Topic: Bitcoin price PLUS $1000 - Would Bitcoin then see world wide acceptance? (Read 6692 times)

Not even sure if they will reach that kind of price.

That's good too. Anything that allows the average dumbass walking down the street in Oklahoma to use Bitcoin is good with me.

If there was software that would process these kinds of requests for payments then people could easily scam by broadcasting these kinds of requests near a register and when a customer pays the incorrect address there would be nothing they could do about it, nor could anyone prove who was the scammer.

A much better scenario would be retail outlets using a QR code on a PIN pad so you could scan a QR code to send a payment to, include a TX fee, then broadcast the TX to the store's node only. When the store receives the TX they would rebroadcast the TX to multiple "super nodes" ensuring that the TX is well propagated before accepting it as a 0/unconfirmed TX

you need to use your bitcoin too..

Bitcoin's acceptance isn't really tied to commerce as much as it's crippled by usability. Of course there must be someplace to use Bitcoin for it to have value but for general acceptance it must be easy to use. Until very recently Bitcoin was a toy for techno geeks and nerds because it requires speciality knowledge that the overwhelming majority of citizens don't possess. I'd like to say that Bitcoin could be used by just anyone that spends the time necessary to gain the knowledge but this simply isn't true. There are still many people that can't balance their own checking account ledger and need to have someone else do their taxes because they can't figure it out or their lazy.

Businesses are starting to pop up that will allow Bitcoin to be used like a credit or debit card. These businesses need to create a layer between the protocol and the user that will allow a simpleton to scan a QR code or answer a simple question to pay with and buy Bitcoin. I'd like to see software that fits on a phone works like Bump and asks questions like, "a register near you is requesting that you pay .005 Bitcoin. Would you like to make this payment? This step is really more important than any value that could be assigned to the individual unit of 1 Bitcoin. Satoshi is the unit most people will eventually buy and whole Bitcoins will be reserved for transferring large amounts of money between financial institutions. Ever seen one of these, this is the future one Bitcoin:

These were reserved for bank transfers.

Some say it could be because of new merchant accepting it they will never hold bitcoin, due to obvious reasons.
They will sell it the second they accept it. So basically it leads to Bitcoin sell-off through huge market sell orders.

there must be the possibility of achieving price $ 1,000 more, see more investors and merchants that accept bitcoin,
but which I'm still confused as to why the current very low price

Well at $1200 it caught the attention of some famous people like Richard Branson

Still not.. As long as they do not know much about bitcoin.

Educate people first so that they will be accepted all over the world.

Even if bitcoin is $200 as long as they can easily get a hand on it. People will embrace it.

I agree. We need to see more bitcoin related commerce. When we see enough commerce then we can truly see the benefits that bitcoin has to offer. When enough people use bitcoin then merchants will hopefully start to offer discounts for using it, which will hopefully cause more people to buy and use it, and the circle will continue.

I think this is a problem with bitcoin. There are too many people who believe the price will always rise, thus preventing them from spending their bitcoin thus preventing adoption from increasing

Even if bitcoin is worth around $500 as long as everyone gets a good grip on what it is, it will be accepted.

Heh... even if people wanted to do it, it's not a decision that can be made. It's just not that simple.
You cant just add a thousand dollars to the price of bitcoin because the price is driven by supply and demand and economics.
Also, artificially driving the price of something up would make it lose value in my opinion. People would lose trust in its value. Also, probably the biggest problem with what you suggested, is everyone would just  buy bitcoins before it goes up and sell afterwords, causing total havoc and likely crashing the price of bitcoin wayyyyyyyyyyyyy under what it was.

Your plan lacks the part that says how this would even be remotely possible...

When we hit 1K, we are going to see some serious shit.

World wide acceptance will come when bitcoin's value will be 10,000$ or more.

I don't doubt a lot of people will sell once it gets to 1k, but it depends how fast it climbs to that. If it goes up fast people will still be tempted to hold to see where it goes to.

When the price will hit $1000 several hodlers will sell their holdings but the adoption will continue without them.

that is a matter of relevancy...it will depend on the integrity of fiat currency I guess...