Bitcoin hitting the next level... requirements.

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Quote from: JimmyButlerCollector on August 20, 2017, 11:32:50 PM

In order for bitcoin to hit levels of $250,000+...... it will need to be accepted and marketed everywhere. So far, Microsoft accepts bitcoin. This could be the ice breaker and the door opener for other companies such as Apple, Sony, Google, etc down the road, eventually leading to retailers such as Walmart and franchise such as Mcdonalds.

Yes this might increase awareness about bitcoin and its benefits to common people, but without investors bitcoin price can't grow. Bitcoin is already getting lots of new investors which is having really positive effect on price after few years all those bigger brand might also get interested in adding bitcoin as their payment method.

Price will be at moon by 2012, no worries.... Grin

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It is in the right track. I have seen a few payment processors which lets you top up their wallet with bitcoin. Skrill and Payza are the most popular ones and then comes Payeer and a few other less well known and less used. This will lead to bitcoin being accepted in many digital websites first before hitting the mainstream level from mainstream companies. It is a good start but we are far and very far from the 250.000 dollars objective.

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Quote from: JimmyButlerCollector on August 20, 2017, 11:32:50 PM

In order for bitcoin to hit levels of $250,000+...... it will need to be accepted and marketed everywhere. So far, Microsoft accepts bitcoin. This could be the ice breaker and the door opener for other companies such as Apple, Sony, Google, etc down the road, eventually leading to retailers such as Walmart and franchise such as Mcdonalds.

In order for bitcoin to take off to levels that seem ridiculous right now, we will need to see the average Joe not only be holding bitcoin..... but also be spending it. (In this case, $250,000 could possibly be severely underestimated)

But you are missing out how the power of holding will be helping bitcoin to have higher price levels. Spending is good but we cannot expect all the people around the world to spend bitcoin for some product services when they do not have enough merchants to accept bitcoins. The only option in front of them is, spending bitcoin for fiats conversion. That is the only reason bitcoin prices not increasing.

When we are having more number of merchants will be accepting bitcoin, people will automatically spend bitcoin for their daily life's needs. In that case bitcoin will have its value in millions too.

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I don't think spending bitcoin will help in price rise, when you spend bitcoin in some merchant that use bitpay like third party software than all those bitcoin will instantly be converted into fiat which might not help to grow total marketcap.

Holding bitcoin is key, when almost all billionaire and millionaire of this world will start to invest into bitcoin just like they do in gold, price will be over $100k.

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Quote from: FrankNoland on August 21, 2017, 12:14:33 AM

From my perspective, bitcoin is becoming slowly recognised worldwide. Most countries are starting to use bitcoin as a payment tool and in this way it's becoming popular each and everyday. Bitcoin has the potential to reach those levels, if not now but at a later stage.

It is not most countries that have started accepting bitcoins; it is most companies like Microsoft, Uber, PayPal etc. Some of them like Microsoft accepted bitcoins as a payment worldwide. However there are very few countries that have legalized the use of bitcoins and I hope you know about those.

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Quote from: bucciarati on August 21, 2017, 10:48:28 AM

i think bitcoin will never get mass adoption like no one use gold to buy beers and clothes. others altcoin will be used for this purpose bitcoin will be used for big transaction like real estate in my opinion

Depends the purpose of user Bitcoin, they can use their Bitcoin for purchase any things if they want, even small order like candy, but the fees will make them should think again. So this is reason have many altcoin support Bitcoin about this issue.

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Bitcoin doesn't need 'mass adoption' to reach high price levels. And I don't think retail or merchant acceptance will ever be a significant factor. No matter what happens, people won't want to spend BTC if they have an alternative. That's baked into the way it's designed and it's baked into human psychology. People don't want to spend deflationary assets if they can help it.

There's no upside for consumers to use BTC for their regular expenditure and plenty of downside.

The next level will be more people waking up to its use as a way of protecting, preserving and growing value. To get there it needs to maintain and increase trust. I don't think it can until the scaling shit, which is really controlling shit, is finally put to bed. At this point in time it doesn't look like it ever will. It just keeps on morphing and ever more loathsome tricks keep being pulled.

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Quote from: Oilacris on August 22, 2017, 08:02:34 AM

Quote from: peter0425 on August 21, 2017, 09:46:59 AM

Quote from: Oilacris on August 21, 2017, 09:34:20 AM

Quote from: JimmyButlerCollector on August 20, 2017, 11:32:50 PM

In order for bitcoin to hit levels of $250,000+...... it will need to be accepted and marketed everywhere. So far, Microsoft accepts bitcoin. This could be the ice breaker and the door opener for other companies such as Apple, Sony, Google, etc down the road, eventually leading to retailers such as Walmart and franchise such as Mcdonalds.

In order for bitcoin to take off to levels that seem ridiculous right now, we will need to see the average Joe not only be holding bitcoin..... but also be spending it. (In this case, $250,000 could possibly be severely underestimated)

It would really be an Icebreaker when Microsoft would tend to accept bitcoin knowing that its really a big company and would really caught the attention of big companies too and they will surely decide to jump into bitcoin craze. If this thing would happen then high prices would really be expected but the main thing or concern here is what would be the thing that they would need to see on bitcoin for them to be convinced?

I don't think that it will benefit Microsoft to accept bitcoin. And I don't see them accepting bitcoin as payment. Its really the price instability that causes this big companies to accept bitcoins. Unless Bill Gates himself has admitted in public and he has invested millions on bitcoin and they will accept it, then bitcoin will become more popular and universally accepted because its Microsoft. And maybe other big IT company will follow what Microsoft has started and this will really push the price on the next level. But now, I don't see it happening.

You do have a point but its still a good payment option for them to implement.We do know its an IT company which means accepting bitcoin to them would really suits up.This would really increase awareness even though it wont give too much effect on Microsoft but later on when people already do know about bitcoin they will surely get benefit from it later on.

Well maybe they are already getting profit from bitcoin that we don't know, they can always use bitcoin because everyone can surely use it, or maybe Microsoft's owner already have an investment with bitcoin even if he don't have a partnership with bitcoin and his company he can surely use bitcoin freely for his personal needs, but yes implementing a combination of Microsoft and Bitcoin would be a win for the both parties.

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Quote from: peter0425 on August 21, 2017, 09:46:59 AM

Quote from: Oilacris on August 21, 2017, 09:34:20 AM

Quote from: JimmyButlerCollector on August 20, 2017, 11:32:50 PM

In order for bitcoin to hit levels of $250,000+...... it will need to be accepted and marketed everywhere. So far, Microsoft accepts bitcoin. This could be the ice breaker and the door opener for other companies such as Apple, Sony, Google, etc down the road, eventually leading to retailers such as Walmart and franchise such as Mcdonalds.

In order for bitcoin to take off to levels that seem ridiculous right now, we will need to see the average Joe not only be holding bitcoin..... but also be spending it. (In this case, $250,000 could possibly be severely underestimated)

It would really be an Icebreaker when Microsoft would tend to accept bitcoin knowing that its really a big company and would really caught the attention of big companies too and they will surely decide to jump into bitcoin craze. If this thing would happen then high prices would really be expected but the main thing or concern here is what would be the thing that they would need to see on bitcoin for them to be convinced?

I don't think that it will benefit Microsoft to accept bitcoin. And I don't see them accepting bitcoin as payment. Its really the price instability that causes this big companies to accept bitcoins. Unless Bill Gates himself has admitted in public and he has invested millions on bitcoin and they will accept it, then bitcoin will become more popular and universally accepted because its Microsoft. And maybe other big IT company will follow what Microsoft has started and this will really push the price on the next level. But now, I don't see it happening.

You do have a point but its still a good payment option for them to implement.We do know its an IT company which means accepting bitcoin to them would really suits up.This would really increase awareness even though it wont give too much effect on Microsoft but later on when people already do know about bitcoin they will surely get benefit from it later on.

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Quote from: JimmyButlerCollector on August 20, 2017, 11:32:50 PM

In order for bitcoin to hit levels of $250,000+...... it will need to be accepted and marketed everywhere. So far, Microsoft accepts bitcoin. This could be the ice breaker and the door opener for other companies such as Apple, Sony, Google, etc down the road, eventually leading to retailers such as Walmart and franchise such as Mcdonalds.

In order for bitcoin to take off to levels that seem ridiculous right now, we will need to see the average Joe not only be holding bitcoin..... but also be spending it. (In this case, $250,000 could possibly be severely underestimated)

Microsoft has accepted Bitcoin for years, as far as I know, though perhaps not with the convenience of today. I'm still not sure acceptance by major companies before user acceptance is very useful in propagation - certainly does not seem the case for Bitcoin. I agree that Average Joe wanting to use his Bitcoin to buy things is more important to push the next step. I think the good news is that organic growth is really pacing well now.

Quote from: alyssa85 on August 21, 2017, 05:56:38 AM

The network can't cope with more than 250,000 transactions per 24 hour period.

That was why some developers got fed-up and forked the chain to create bitcoincash, which has 8 mg blocks. If adoption as a currency happens, it won't be on bitcoin - it will be on the other chains, bitcoincash, ether, doge, litecoin etc.

No it can't, but the majority of this year should be evidence enough that there isn't that level of true demand in terms of transaction. Network capacity was artificially bloated in part by the very same guys you're talking about.

bucciarati

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i think bitcoin will never get mass adoption like no one use gold to buy beers and clothes. others altcoin will be used for this purpose bitcoin will be used for big transaction like real estate in my opinion

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Quote from: Asrael999 on August 21, 2017, 09:51:46 AM

Microsoft already accept Bitcoin - you can redeem it into your account where they automatically convert it to fiat and allow you to purchase with that fiat.

Microsoft accepting Bitcoin is mostly only known to people being active in the Bitcoin world for at least a year. Another thing that isn't helping, is that they don't seem to take Bitcoin that seriously.

Microsoft should be making it obviously clear in the countries they allow people to pay with Bitcoin, that it is an available option. As it is right now, barely anyone of the newer people here will notice that.

I even remember back in 2016 that Microsoft by 'mistake' announced that they no longer accept Bitcoin payments anymore, where not long after that they corrected themselves.

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Microsoft already accept Bitcoin - you can redeem it into your account where they automatically convert it to fiat and allow you to purchase with that fiat.

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Quote from: Oilacris on August 21, 2017, 09:34:20 AM

Quote from: JimmyButlerCollector on August 20, 2017, 11:32:50 PM

In order for bitcoin to hit levels of $250,000+...... it will need to be accepted and marketed everywhere. So far, Microsoft accepts bitcoin. This could be the ice breaker and the door opener for other companies such as Apple, Sony, Google, etc down the road, eventually leading to retailers such as Walmart and franchise such as Mcdonalds.

In order for bitcoin to take off to levels that seem ridiculous right now, we will need to see the average Joe not only be holding bitcoin..... but also be spending it. (In this case, $250,000 could possibly be severely underestimated)

It would really be an Icebreaker when Microsoft would tend to accept bitcoin knowing that its really a big company and would really caught the attention of big companies too and they will surely decide to jump into bitcoin craze. If this thing would happen then high prices would really be expected but the main thing or concern here is what would be the thing that they would need to see on bitcoin for them to be convinced?

I don't think that it will benefit Microsoft to accept bitcoin. And I don't see them accepting bitcoin as payment. Its really the price instability that causes this big companies to accept bitcoins. Unless Bill Gates himself has admitted in public and he has invested millions on bitcoin and they will accept it, then bitcoin will become more popular and universally accepted because its Microsoft. And maybe other big IT company will follow what Microsoft has started and this will really push the price on the next level. But now, I don't see it happening.

Oilacris

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Quote from: JimmyButlerCollector on August 20, 2017, 11:32:50 PM

In order for bitcoin to hit levels of $250,000+...... it will need to be accepted and marketed everywhere. So far, Microsoft accepts bitcoin. This could be the ice breaker and the door opener for other companies such as Apple, Sony, Google, etc down the road, eventually leading to retailers such as Walmart and franchise such as Mcdonalds.

In order for bitcoin to take off to levels that seem ridiculous right now, we will need to see the average Joe not only be holding bitcoin..... but also be spending it. (In this case, $250,000 could possibly be severely underestimated)

It would really be an Icebreaker when Microsoft would tend to accept bitcoin knowing that its really a big company and would really caught the attention of big companies too and they will surely decide to jump into bitcoin craze. If this thing would happen then high prices would really be expected but the main thing or concern here is what would be the thing that they would need to see on bitcoin for them to be convinced?

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Quote from: JimmyButlerCollector on August 20, 2017, 11:32:50 PM

In order for bitcoin to hit levels of $250,000+...... it will need to be accepted and marketed everywhere. So far, Microsoft accepts bitcoin. This could be the ice breaker and the door opener for other companies such as Apple, Sony, Google, etc down the road, eventually leading to retailers such as Walmart and franchise such as Mcdonalds.

In order for bitcoin to take off to levels that seem ridiculous right now, we will need to see the average Joe not only be holding bitcoin..... but also be spending it. (In this case, $250,000 could possibly be severely underestimated)

The issue about this happening will largely mean a change in our orientation in the way we all see bitcoin because quite a number of us are seeing it as an asset and thereby hoarding it with the expectation that price will increase but for it to get the massive attention, it needs to be available and affordable because without that, we will continue to be stuck at a growing currency which is still growing after 8 years or thereabout

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Quote from: JimmyButlerCollector on August 20, 2017, 11:32:50 PM

In order for bitcoin to hit levels of $250,000+...... it will need to be accepted and marketed everywhere. So far, Microsoft accepts bitcoin. This could be the ice breaker and the door opener for other companies such as Apple, Sony, Google, etc down the road, eventually leading to retailers such as Walmart and franchise such as Mcdonalds.

In order for bitcoin to take off to levels that seem ridiculous right now, we will need to see the average Joe not only be holding bitcoin..... but also be spending it. (In this case, $250,000 could possibly be severely underestimated)

Agree, however my fear is that BTC is too complicated to understand for the "average Joe". But I am still confident it will grow high, regardless.

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Quote from: lumeire on August 21, 2017, 08:05:31 AM

BTCBTCBTC won't be mass adopted unless it fix its issues with fees, which as we see is still not plausible at this point.

True, the lack of Bitcoin for now and the future is the transaction cost that reaches tens of dollars even more if it is not revised.

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Quote from: HabBear on August 20, 2017, 11:41:55 PM

It doesn't have to be marketed every where, we just need a tad more than 5 times the amount of demand we have now to push the price up to $25,000.

Of course more press, marketing, presence, would help. But the best way to get that is for each of us to share Bitcoin with the people we know. We need people to realize that Bitcoin isn't a fad, it isn't a techy novelty, it's real...it has real benefit...it has real staying power. It's not going anywhere. And it's a great alternative option to existing investments.

Unfortunately a push towards USD 25,000,- needs a little more than 5 times the amount of demand we have right now. The larger BTC's market cap grows, the more money is needed to increase it.

Apart from that I agree. Also I get the feeling that Bitcoin is slowly moving towards acceptance as something more than just a fad.

Quote from: alyssa85 on August 21, 2017, 05:56:38 AM

The network can't cope with more than 250,000 transactions per 24 hour period.

That was why some developers got fed-up and forked the chain to create bitcoincash, which has 8 mg blocks. If adoption as a currency happens, it won't be on bitcoin - it will be on the other chains, bitcoincash, ether, doge, litecoin etc.

Linear scaling as with BCH only gets you so far. 8mb blocks will be nothing more than a drop in the ocean in the big picture.

ETH, DOGE and LTC don't scale so hot either. ETH is already at capacity when major ICOs take place. DOGE and LTC have only cheap transaction fees right now because they barely have any transaction volume going through. Neither scale better than BTC.

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I think that the really important thing for bitcoin is not to have another chain split.
Many people don't understand what happens during such a process.
This shakens the one thing that bitcoin has built up during the last years: trust!
Without trust there is no new money and no further developement!

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BTCBTCBTC won't be mass adopted unless it fix its issues with fees, which as we see is still not plausible at this point.

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One point that people are not considering is the zeros in bitcoin.

You cant expect the average Joe to use a coin that is show with lots of zeros to the left. He will screw it, because its confusing.

At the first the stores will have to change the unit to mBTC while marketing its products, and also in the way it is show in screens while doing payments. If the price of BTC increases to six figures, then switch it to satoshis, or sBTC. This will made it easy to use.

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Quote from: JimmyButlerCollector on August 20, 2017, 11:32:50 PM

In order for bitcoin to hit levels of $250,000+...... it will need to be accepted and marketed everywhere. So far, Microsoft accepts bitcoin. This could be the ice breaker and the door opener for other companies such as Apple, Sony, Google, etc down the road, eventually leading to retailers such as Walmart and franchise such as Mcdonalds.

In order for bitcoin to take off to levels that seem ridiculous right now, we will need to see the average Joe not only be holding bitcoin..... but also be spending it. (In this case, $250,000 could possibly be severely underestimated)

The network can't cope with more than 250,000 transactions per 24 hour period.

That was why some developers got fed-up and forked the chain to create bitcoincash, which has 8 mg blocks. If adoption as a currency happens, it won't be on bitcoin - it will be on the other chains, bitcoincash, ether, doge, litecoin etc.

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Quote from: JimmyButlerCollector on August 20, 2017, 11:32:50 PM

In order for bitcoin to hit levels of $250,000+...... it will need to be accepted and marketed everywhere. So far, Microsoft accepts bitcoin. This could be the ice breaker and the door opener for other companies such as Apple, Sony, Google, etc down the road, eventually leading to retailers such as Walmart and franchise such as Mcdonalds.

In order for bitcoin to take off to levels that seem ridiculous right now, we will need to see the average Joe not only be holding bitcoin..... but also be spending it. (In this case, $250,000 could possibly be severely underestimated)

Unlike the tech giants and whatnot bitcoin is different. It is decentralized.

Which means that the technology will probably not evolve that much at all. Rather, what has to change is the community itself. All we really need is bitcoin to have more acceptance in society in the form of merchants and whatnot, and the rest will sort itself out.

Stability will come with more merchants accepting btc, which is a plus. I wouldn't be surprised at all if a clear correlation between the amount of merchants around the world accepting btc and the btc price was found in the long run.

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There is no next level.
Core coin does not scale beyond this point.
Bitcoin (cash) is where the future is at.

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The only real requirement is that the fiat printing presses continue humming along.

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Quote from: JimmyButlerCollector on August 20, 2017, 11:32:50 PM

In order for bitcoin to hit levels of $250,000+...... it will need to be accepted and marketed everywhere. So far, Microsoft accepts bitcoin. This could be the ice breaker and the door opener for other companies such as Apple, Sony, Google, etc down the road, eventually leading to retailers such as Walmart and franchise such as Mcdonalds.

In order for bitcoin to take off to levels that seem ridiculous right now, we will need to see the average Joe not only be holding bitcoin..... but also be spending it. (In this case, $250,000 could possibly be severely underestimated)

I understand that there seems to be an impatient with many people as to the progress of Bitcoin in hitting the mainstream. Personally, I don't see the reasons why we have to rush things. Remember that compared to other currencies and assets, Bitcoin is still so new as it has not yet even approach a decade. Let's allow time to do its work and let's wait for some more years because it is impossible to be forcing anybody or any organization to also adopt Bitcoin. And you can not blame people if they are holding on to their Bitcoin because just like here in my country it is not really that very easy to buy one so we make sure that we hold on to them as much as possible. Bitcoin has become a speculator's toy meaning to say that we are all expecting that it will really rise to the moon soon...and that is why we are not spending our Bitcoin.

FrankNoland

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From my perspective, bitcoin is becoming slowly recognised worldwide. Most countries are starting to use bitcoin as a payment tool and in this way it's becoming popular each and everyday. Bitcoin has the potential to reach those levels, if not now but at a later stage.

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the important thing to ask is how many people are actually using that option. it doesn't matter if Microsoft accepts bitcoin, if people start using bitcoin and they increase their sales through it, then automatically everyone else will jump at the chance to add bitcoin without hesitation. but so far most people prefer hodling their coins. and as an investment we can see price is still going up too. and it does it fast!

besides Microsoft is not exactly having the big bitcoin sign on their entrance. it is mostly a hidden away thing where you can add funds to your account using this in a weird way in my opinion. it is not like Steam which you can just see bitcoin right beside other payments options like credit card.

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Not necessary accept everywhere,only few reputed institutes start accepting and it goes through this segwit thing.The price will go to the moon.

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It doesn't have to be marketed every where, we just need a tad more than 5 times the amount of demand we have now to push the price up to $25,000.

Of course more press, marketing, presence, would help. But the best way to get that is for each of us to share Bitcoin with the people we know. We need people to realize that Bitcoin isn't a fad, it isn't a techy novelty, it's real...it has real benefit...it has real staying power. It's not going anywhere. And it's a great alternative option to existing investments.

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Quote from: JimmyButlerCollector on August 20, 2017, 11:32:50 PM

In order for bitcoin to hit levels of $250,000+...... it will need to be accepted and marketed everywhere. So far, Microsoft accepts bitcoin. This could be the ice breaker and the door opener for other companies such as Apple, Sony, Google, etc down the road, eventually leading to retailers such as Walmart and franchise such as Mcdonalds.

In order for bitcoin to take off to levels that seem ridiculous right now, we will need to see the average Joe not only be holding bitcoin..... but also be spending it. (In this case, $250,000 could possibly be severely underestimated)

Yes mass adoption is needed to bitcoins hitting next level and mass adoption is just one factors, the important factors on bitcoins is the bitcoin's network its self, we still must pay fees sending transaction and it is big problem to be currency especially for small amount of transaction (couples cent in bitcoins) and the time of confirmation is the problem too for bitcoins to be currency and hitting next level.

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In order for bitcoin to hit levels of $250,000+...... it will need to be accepted and marketed everywhere. So far, Microsoft accepts bitcoin. This could be the ice breaker and the door opener for other companies such as Apple, Sony, Google, etc down the road, eventually leading to retailers such as Walmart and franchise such as Mcdonalds.

In order for bitcoin to take off to levels that seem ridiculous right now, we will need to see the average Joe not only be holding bitcoin..... but also be spending it. (In this case, $250,000 could possibly be severely underestimated)

Topic: Bitcoin hitting the next level... requirements. (Read 881 times)