Bitcoins true potential - page 6. | Bitcointalksearch.org

Snorek

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Quote from: Dahhi on August 31, 2016, 05:39:16 PM

Quote from: Nimbulan on August 09, 2016, 06:55:45 AM

In my opinion in several decades countries from around the world might be using it as an official currency

Several decades from now, the world will be using government issued digital currencies... watch out.

Or society will rebel against economic dictatorship and parasitic taxation also unclear way money are created is causing problems.
And cure for that could be bitcoin or something that will evolve from it - a decentralized global monetary system with full transparency.

electronicash

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Quote from: sishendaoye on September 06, 2016, 09:41:32 AM

Not sure what Bitcoin true potential is because to be real I do not pay any attention to that, I am only here to make some more money and noting else.
I know that people say that Bitcoin is going to take over the world but we have yet to see what will happen.

eventually you will pay attention to it when your earnings went down or went up. bitcoin's potential is limitless and when one day we'll see that the known merchants that don't accepts it for now will start to consider bitcoin, you'd be happen to see how much you've earned while you are here in the forum.

StoreBit

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to me there is too much potential in the price of bitcoin, my personal view is that the price of bitcoin will start increasing, therefore it is a good time to invest in bitcoin in present time, and it will be really a good decision.

sishendaoye

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Not sure what Bitcoin true potential is because to be real I do not pay any attention to that, I am only here to make some more money and noting else.
I know that people say that Bitcoin is going to take over the world but we have yet to see what will happen.

Dahhi

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Quote from: Nimbulan on August 09, 2016, 06:55:45 AM

In my opinion in several decades countries from around the world might be using it as an official currency

Several decades from now, the world will be using government issued digital currencies... watch out.

outatime1

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The value can also be a function of demand. What I mean is that if there is some good news that makes people panic buy, the price could spike higher than is should be worth just because of that temporary demand.

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Quote from: Pap0u on August 08, 2016, 08:05:04 PM

There have been plenty of discussions from time to time on the price speculation of Bitcoin. Where do you guys see the price of one Bitcoin in the years to come?

i see it higher than this.
there has been a good and steady growth when you look at the charts for "all". and this rise has not stopped yet.

Quote

Most importantly, why? How would Bitcoin work?

because of more adoption.
more and more people get to know bitcoin and start using it. there is always a new business or a merchant who starts accepting bitcoin which helps the adoption.
more adoption, more demand , higher price

Quote

Bitcoin can not exist independently without any other currency, because then where do you derive its value?

everything is that way in the world, they take their price from another thing, mostly currency! so i don't understand this part!

Quote

Imagine Bitcoin though is adopted worldwide, as a popular secondary means of processing transactions. What should the value be of a Bitcoin if literally every person who owned a bank account and debit and credit cards also used Bitcoin wallets and bitcoins daily.

this can an can't happen at the same time. because bitcoin has the potential to get there but the government and banks may never allow that to happen if they feel threatened.

Quote

My theory is that the value of a Bitcoin needs to be the sum of all the value of money that exists in the world divided by 21 million bitcoins then adjusted to market price.

Why is Bitcoin priced at what it is today and what is its maximum potential to be valued at?

that is one of putting it.
but i think the maximum is what people are willing to pay for it. so if they are willing to pay $570 for one bitcoin it would be worth $570 and if they are willing to pay a million it would be worth a million

ubitcoin

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Quote from: DomesticTrader on August 29, 2016, 10:29:37 AM

Quote from: Pap0u on August 08, 2016, 08:05:04 PM

There have been plenty of discussions from time to time on the price speculation of Bitcoin. Where do you guys see the price of one Bitcoin in the years to come? Most importantly, why? How would Bitcoin work? Bitcoin can not exist independently without any other currency, because then where do you derive its value? Imagine Bitcoin though is adopted worldwide, as a popular secondary means of processing transactions. What should the value be of a Bitcoin if literally every person who owned a bank account and debit and credit cards also used Bitcoin wallets and bitcoins daily.

My theory is that the value of a Bitcoin needs to be the sum of all the value of money that exists in the world divided by 21 million bitcoins then adjusted to market price.

Why is Bitcoin priced at what it is today and what is its maximum potential to be valued at?

potential for sure but i dont think the bitcoin will have a bright future because everyone is telling me it will die blabla and most of the peole are dumping them right now why is that can someone tell me,

Actually the people are seeing that everyone who is dumping are very ignorant. No one is dumping intentional like we do see in altcoin markets its just market fluctuations. It’s been steady above $500 price levels for a considerably long time now. Bitcoin is predicted to rise about $1000 levels at least next year. Then we can see the true potential of bitcoins.

Kevin77

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Quote from: lumeire on August 29, 2016, 09:40:24 AM

Quote from: Bitmore on August 28, 2016, 01:31:35 PM

Quote from: NorthPixel on August 09, 2016, 06:38:49 AM

Quote from: maku on August 09, 2016, 06:13:05 AM

Bitcoin for now is like subsidiary currency. Fiats are dominating and it is only possible to view bitcoin price in direct comparison to them.
But bitcoin is much more that simple paper money. It can be used in many ways, for example to store important information in the blockchain.
This feature alone, if used correctly and with plan will made 1 BTC worth more than $10.000.

It will take several decades for the bitcoin to be used a major currency. In the mean while, there should be more developments.

I respectfully disagree.
One scenario is the currency collapse, which could happen overnight. Heck, the 2007 bank housing crisis $trillion bailout was to stop a financial collapse ending in all ATMs from working within just hours. (Is it not curious that Bitcoin was created shortly thereafter?)
As such, Bitcoin might be the only currency left to carry out ANY transactions, from grocery store to buying gas, and at that moment each Bitcoin would be worth literally $millions in today's dollars.

Look what is going on; negative interest rates on the horizon, demise of the petrodollar and the rise of the BRICs nations removing the dollar as reserve currency, Chinese yuan being gold backed (in its latest version),,, this might not take decades.

It may be less than weeks when SHTF, and then we will be the whales!

While all that remains a possibility, I kind of think those are the worst case scenarios. IMO something would have already been done before the situation even comes to that.

Actually people use bitcoin like fiat more and more everyday so the fact that people may be comparing it to cash is no longer valid. People are actually already using bitcoin like actual fiats so we are kind of past that point already. The true potential of bitcoin is being unveiled slowly.

Capradina

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Quote from: DomesticTrader on August 29, 2016, 10:29:37 AM

Quote from: Pap0u on August 08, 2016, 08:05:04 PM

There have been plenty of discussions from time to time on the price speculation of Bitcoin. Where do you guys see the price of one Bitcoin in the years to come? Most importantly, why? How would Bitcoin work? Bitcoin can not exist independently without any other currency, because then where do you derive its value? Imagine Bitcoin though is adopted worldwide, as a popular secondary means of processing transactions. What should the value be of a Bitcoin if literally every person who owned a bank account and debit and credit cards also used Bitcoin wallets and bitcoins daily.

My theory is that the value of a Bitcoin needs to be the sum of all the value of money that exists in the world divided by 21 million bitcoins then adjusted to market price.

Why is Bitcoin priced at what it is today and what is its maximum potential to be valued at?

potential for sure but i dont think the bitcoin will have a bright future because everyone is telling me it will die blabla and most of the peole are dumping them right now why is that can someone tell me,

Everyone is doing it all because they want to foster a passion in order to be able to get a lot of bitcoin. Fuck the words everyone!! . Because all the people was not meant for me. If I say that bitcoin is going to be better then I would still find a way to get a lot of bitcoin bitcoin and prove that it's going to be great or have a good future

romero121

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Quote from: Slark on August 27, 2016, 09:39:14 PM

Quote from: Barbut on August 27, 2016, 02:58:32 PM

Nobody knows true potential of bitcoins. We can only guess how big can it grow, and how spread will it be. I understand sometimes how many optimistic people there is here, I'm one of them, and we really have big faith in blockchain and bitcoin. For me those two things are connected and there is no one without another one.
True potential of bit coins is probably world domination, where bitcoin can take throne and other alt coins can be soldiers. I see bit coin in future, where technology have primate over the other fiat currencies.
Time will tell was I right or not, for now my thinking have logic and sense.

I would like to correct something. True potential of bitcoin is enormous. We already know pretty much all of it now. We can add potential uses and speculate on what blockchain can even more helpful.
But the real problem is that people might not recognize that potential at all. The worst scenario - Bitcoin will be used by geeks in limited scale, will be forgotten.
And in 50 years or so will re-emerge as 'new concept' and it will be major hit, because then society will be ready for digital currency.

It might happen, in my opinion the anonymous nature of bitcoin is the one which makes it to be used and generated in a limited scale. At the same as mentioned re-emerging happens if bitcoin and other digital currencies completely gets vanished due to the intervention of governments or any other governing authority of the network.

StoreBit

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Quote from: RyNinDaCleM on August 09, 2016, 08:19:04 AM

Quote from: ethereumhunter on August 09, 2016, 06:42:40 AM

sooner government will be realize that bitcoin have more benefits for many people, and they will integrate their bank system with bitcoin and blockchain technology. i see that bitcoin can be one currency that can united all country with one currency, no matter where you are, where you live, you can use bitcoin in anywhere.

It's true about blockchain being used by banks, but you are crazy if you think Bitcoin will be the one they use. Banks and gov will never give up their power over the system. They will more likely fork the coin that suits them best and centralize it.

i think they will do some adjustment, the banks and government will adopt bitcoin on certain conditions, the banks will do some amendment like they will create online wallets for bitcoin or any other crypto currency, the government will impose some taxes on bitcoin and will apply some other rules which they consider in their favour.

DomesticTrader

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Quote from: Pap0u on August 08, 2016, 08:05:04 PM

There have been plenty of discussions from time to time on the price speculation of Bitcoin. Where do you guys see the price of one Bitcoin in the years to come? Most importantly, why? How would Bitcoin work? Bitcoin can not exist independently without any other currency, because then where do you derive its value? Imagine Bitcoin though is adopted worldwide, as a popular secondary means of processing transactions. What should the value be of a Bitcoin if literally every person who owned a bank account and debit and credit cards also used Bitcoin wallets and bitcoins daily.

My theory is that the value of a Bitcoin needs to be the sum of all the value of money that exists in the world divided by 21 million bitcoins then adjusted to market price.

Why is Bitcoin priced at what it is today and what is its maximum potential to be valued at?

potential for sure but i dont think the bitcoin will have a bright future because everyone is telling me it will die blabla and most of the peole are dumping them right now why is that can someone tell me,

lumeire

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Quote from: Bitmore on August 28, 2016, 01:31:35 PM

Quote from: NorthPixel on August 09, 2016, 06:38:49 AM

Quote from: maku on August 09, 2016, 06:13:05 AM

Bitcoin for now is like subsidiary currency. Fiats are dominating and it is only possible to view bitcoin price in direct comparison to them.
But bitcoin is much more that simple paper money. It can be used in many ways, for example to store important information in the blockchain.
This feature alone, if used correctly and with plan will made 1 BTC worth more than $10.000.

It will take several decades for the bitcoin to be used a major currency. In the mean while, there should be more developments.

I respectfully disagree.
One scenario is the currency collapse, which could happen overnight. Heck, the 2007 bank housing crisis $trillion bailout was to stop a financial collapse ending in all ATMs from working within just hours. (Is it not curious that Bitcoin was created shortly thereafter?)
As such, Bitcoin might be the only currency left to carry out ANY transactions, from grocery store to buying gas, and at that moment each Bitcoin would be worth literally $millions in today's dollars.

Look what is going on; negative interest rates on the horizon, demise of the petrodollar and the rise of the BRICs nations removing the dollar as reserve currency, Chinese yuan being gold backed (in its latest version),,, this might not take decades.

It may be less than weeks when SHTF, and then we will be the whales!

While all that remains a possibility, I kind of think those are the worst case scenarios. IMO something would have already been done before the situation even comes to that.

Universat

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Quote from: mobnepal on August 09, 2016, 10:50:44 AM

It is hard to predict real value or good stable value/price of bitcoin and also hard to predict what will be price over time. But bitcoin price is determined by supply of bitcoin and demand of bitcoin worldwide. But sometime there are many events that could significantly manipulate/swing market price of bitcoin.

yes it is right to say that we cannot predict the value of bitcoin. as there is a lot of fluctuation in the market price of bitcoin, some time a good news can increase the price of bitcoin very high, while other time its value of bitcoin is effecting badly after the band news like hacking of bitfinex.

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Quote from: NorthPixel on August 09, 2016, 06:38:49 AM

Quote from: maku on August 09, 2016, 06:13:05 AM

Bitcoin for now is like subsidiary currency. Fiats are dominating and it is only possible to view bitcoin price in direct comparison to them.
But bitcoin is much more that simple paper money. It can be used in many ways, for example to store important information in the blockchain.
This feature alone, if used correctly and with plan will made 1 BTC worth more than $10.000.

It will take several decades for the bitcoin to be used a major currency. In the mean while, there should be more developments.

I respectfully disagree.
One scenario is the currency collapse, which could happen overnight. Heck, the 2007 bank housing crisis $trillion bailout was to stop a financial collapse ending in all ATMs from working within just hours. (Is it not curious that Bitcoin was created shortly thereafter?)
As such, Bitcoin might be the only currency left to carry out ANY transactions, from grocery store to buying gas, and at that moment each Bitcoin would be worth literally $millions in today's dollars.

Look what is going on; negative interest rates on the horizon, demise of the petrodollar and the rise of the BRICs nations removing the dollar as reserve currency, Chinese yuan being gold backed (in its latest version),,, this might not take decades.

It may be less than weeks when SHTF, and then we will be the whales!

Leonard2016

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Quote from: Slark on August 27, 2016, 09:39:14 PM

Quote from: Barbut on August 27, 2016, 02:58:32 PM

Nobody knows true potential of bitcoins. We can only guess how big can it grow, and how spread will it be. I understand sometimes how many optimistic people there is here, I'm one of them, and we really have big faith in blockchain and bitcoin. For me those two things are connected and there is no one without another one.
True potential of bit coins is probably world domination, where bitcoin can take throne and other alt coins can be soldiers. I see bit coin in future, where technology have primate over the other fiat currencies.
Time will tell was I right or not, for now my thinking have logic and sense.

I would like to correct something. True potential of bitcoin is enormous. We already know pretty much all of it now. We can add potential uses and speculate on what blockchain can even more helpful.
But the real problem is that people might not recognize that potential at all. The worst scenario - Bitcoin will be used by geeks in limited scale, will be forgotten.
And in 50 years or so will re-emerge as 'new concept' and it will be major hit, because then society will be ready for digital currency.

that is why it is called "potential" not something else.
potential is something that is there but not yet found. and this is true about bitcoin that it has a great future and usage for itself but it is not yet found by people and businesse which are slowlyr ealizing that.

Slark

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Quote from: Barbut on August 27, 2016, 02:58:32 PM

Nobody knows true potential of bitcoins. We can only guess how big can it grow, and how spread will it be. I understand sometimes how many optimistic people there is here, I'm one of them, and we really have big faith in blockchain and bitcoin. For me those two things are connected and there is no one without another one.
True potential of bit coins is probably world domination, where bitcoin can take throne and other alt coins can be soldiers. I see bit coin in future, where technology have primate over the other fiat currencies.
Time will tell was I right or not, for now my thinking have logic and sense.

I would like to correct something. True potential of bitcoin is enormous. We already know pretty much all of it now. We can add potential uses and speculate on what blockchain can even more helpful.
But the real problem is that people might not recognize that potential at all. The worst scenario - Bitcoin will be used by geeks in limited scale, will be forgotten.
And in 50 years or so will re-emerge as 'new concept' and it will be major hit, because then society will be ready for digital currency.

Barbut

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Nobody knows true potential of bitcoins. We can only guess how big can it grow, and how spread will it be. I understand sometimes how many optimistic people there is here, I'm one of them, and we really have big faith in blockchain and bitcoin. For me those two things are connected and there is no one without another one.
True potential of bit coins is probably world domination, where bitcoin can take throne and other alt coins can be soldiers. I see bit coin in future, where technology have primate over the other fiat currencies.
Time will tell was I right or not, for now my thinking have logic and sense.

virusasog

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Quote from: Altynbekova on August 26, 2016, 10:53:25 AM

Quote from: NorthPixel on August 10, 2016, 07:03:46 AM

Quote from: manselr on August 09, 2016, 12:23:24 PM

The potential is insanely high. Multiple million dollars per coin (inflation adjusted) once money from all fronts enters BTC. This is why having 21 BTC is a must for long term.

When you adjust for the inflation, the bitcoin price will be very high. The money printing will devalue the dollar quite a lot.

That's exactly what is making me go into bitcoin. Traditional money is controlled by institutions, bitcoins however make it unique and uncontrollable by 1 entity.
Potential or not, it makes bitcoin unique and very promosing, compared to other currencies.

I am not able to get you bro. What you mean by traditional money. Fiat's are control reserve banks by the every government and bitcoin is the decentralized currency which can able work and move through block to any bitcoin addresses that's it.

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