Bitcoins true potential - page 7. | Bitcointalksearch.org

Labumi

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Quote from: vero on August 26, 2016, 03:29:06 PM

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?

If you think as easy as it only refers to the total value divided by 21 million bitcoin, then why bill gates did not buy all bitcoin available on the market but I see that the potential bitcoin is very bright as bright as the sky clouds your doorstep or as beautiful as your neighbor's lawn.

I don't understand how about 21 million bitcoin. However I am definitely bitcoin is a very potential currency and it will be something very valuable in the future. because the bitcoin is unique and different from other currencies and also it gives us something extraordinary. Just waiting for everyone to realize that, after that the price will be very good bitcoin

vero

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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?

If you think as easy as it only refers to the total value divided by 21 million bitcoin, then why bill gates did not buy all bitcoin available on the market but I see that the potential bitcoin is very bright as bright as the sky clouds your doorstep or as beautiful as your neighbor's lawn.

Ayers

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Quote from: Zistmine on August 26, 2016, 02:22:31 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.

As the user number of the bitcoin grow in the next few years, I think the bitcoin price could rise 40 to 80% a year.

80% is too much, this mean that by the time we are at the next halving the price will be above 3000, i can not see this imho, it will be much lower than that

Altynbekova

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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.

Zistmine

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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.

As the user number of the bitcoin grow in the next few years, I think the bitcoin price could rise 40 to 80% a year.

NorthPixel

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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.

Xenophoto

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First of all, I think your idea of every person who has a bank account would also own bitcoin is highly unlikely. There are tons of technology haters out there, doubters, and people who thinks that every single thing on the Internet is a scam. Bitcoin has a really bad name when it comes to the social media, so people already thinks that Bitcoins are used for fraud purposes. They don't see its advantages.

The price of bitcoin is basically demand and supply. If the majority of people start to embrace bitcoins, then bitcoin's price will shoot up. The scarcity is what makes bitcoin valuable after all. The idea of crypto-currency has an infinite potential, there are tons of things that can make use of bitcoins. We just don't have the technology for it just yet.

manselr

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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.

simon66

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I think it would take north of $50k each to get into territory that would actually surprise me..

If it never gets to $10k in 10 years I'd be more surprised than if it got to $40k..

RyNinDaCleM

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Quote from: Amph on August 09, 2016, 11:40:10 AM

Quote from: RyNinDaCleM on August 08, 2016, 09:27:45 PM

Sure bitcoin can have a value independently of all fiats.
I can pay employees their wages and it becomes the value of hour of work * amount of bitcoin.
Lets say you work 1 hour, and I pay you .02 BTC for that hour. It would be the equivalent of ~$11/hr. Now it doesn't need that usd comparison, but it helps here. Then negotiations can happen to get .025 or whatever your skill may be worth. In a system where wholesalers are paid in btc, their employees are paid in btc and they can then pay their bills in btc, you no longer need the conversion rate, and the value is whatever someone is willing to trade for it. Whether it be hours of their life, chickens on their farm or bj's from the lady of the night. Wink

but you did that math because you know its value in fiat, would be curious to not know it, to see how much are people willing to estiamte bitcoin on tis own

Yes, that's the caveat there. It would require someone who desired BTC for it's properties and doesn't already know the usd value.

Amph

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Quote from: RyNinDaCleM on August 08, 2016, 09:27:45 PM

Sure bitcoin can have a value independently of all fiats.
I can pay employees their wages and it becomes the value of hour of work * amount of bitcoin.
Lets say you work 1 hour, and I pay you .02 BTC for that hour. It would be the equivalent of ~$11/hr. Now it doesn't need that usd comparison, but it helps here. Then negotiations can happen to get .025 or whatever your skill may be worth. In a system where wholesalers are paid in btc, their employees are paid in btc and they can then pay their bills in btc, you no longer need the conversion rate, and the value is whatever someone is willing to trade for it. Whether it be hours of their life, chickens on their farm or bj's from the lady of the night. Wink

but you did that math because you know its value in fiat, would be curious to not know it, to see how much are people willing to estiamte bitcoin on tis own

hawkins

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if anyone asked about the potential bitcoin, especially regarding price, I think it indefinitely. bitcoin prices would always rise at a fantastic price, and it will make more people interested. so the price of bitcoin will increase, and that is certainly the bitcoin system development still remain to be done, and it will certainly be something extraordinary in the future

chesthing

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Quote from: Pap0u on August 09, 2016, 10:19:42 AM

Why do you think it can not scale and be used in mass adoption? You really think it will take decades for cryptocurrencies to become mainstream and worldwide?

Do some research on bitcoin scaling. Your second question contains an assumption of what I think that makes no sense, as it is much broader than whether bitcoin can scale.

mobnepal

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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.

Pap0u

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Why do you think it can not scale and be used in mass adoption? You really think it will take decades for cryptocurrencies to become mainstream and worldwide?

chesthing

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Bitcoin can't scale to anywhere near the mass adoption you are talking about, so there's that...

RyNinDaCleM

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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.

Nimbulan

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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.

thats true, but it is definitely possible, in my opinion in several decades countries from around the world might be using it as an official currency

ethereumhunter

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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.

NorthPixel

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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.

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