Do you really believe that Bitcoin will hit 1,000,000 - page 6.

painlord2k

sr. member

Activity: 453

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Quote from: micky123 on August 13, 2014, 10:13:29 AM

Yup, looks to have recovered slightly. I think it was just a bunch of whales playing with BTC

. That said, the price of BTC is too volatile and certainly not for the faint of heart. If we have to drive mainstream adoption, we cant let BTC be this volatile. If volatility is not taken care of, adoption by the masses would become impossible. This also leads me to believe that banks and financial institutions, which stand to lose the most from BTC adoption could be the reason for such volatility! Conspiracy theory? Just might be true!

Volatility is a problem self correcting as the size of Bitcoin market increase and single entities become smaller compared to the whole system.
It is also correcting as the need to convert bitcoins in fiat reduce as more entities accept and use bitcoins to pay and be paid and stay inside the Bitcoin ecosystem.
This would reduce the supply of coin available on exchanges.

I just checked out Purse.io, and I see only Bitcoin's asks for >10% than the Bitstamp price.
This is, all the offer under Bistamp+10%< are gone or filled immediately.

painlord2k

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Activity: 453

Merit: 254

Quote from: InwardContour on August 13, 2014, 09:42:59 AM

Quote from: micky123 on August 13, 2014, 07:18:06 AM

How ironic,

here we are discussing if BTC will hit a million dollars and BTC is crashing as we speak!

There are no real major indicators as to why it is crashing though, but might just be a good time to buy. damn, why does it crash when i am broke! Huh

It's not a crash but only a downswing which will be followed by a rebound, probably in few weeks we will see again the ~~July~~ January values.

Fixed for you Undecided

micky123

legendary

Activity: 1022

Merit: 1005

Quote from: InwardContour on August 13, 2014, 09:42:59 AM

Quote from: micky123 on August 13, 2014, 07:18:06 AM

How ironic,

here we are discussing if BTC will hit a million dollars and BTC is crashing as we speak!

There are no real major indicators as to why it is crashing though, but might just be a good time to buy. Damn, why does it crash when i am broke! Huh

It's not a crash but only a downswing which will be followed by a rebound, probably in few weeks we will see again the July values.

Yup, looks to have recovered slightly. I think it was just a bunch of whales playing with BTC

. That said, the price of BTC is too volatile and certainly not for the faint of heart. If we have to drive mainstream adoption, we cant let BTC be this volatile. If volatility is not taken care of, adoption by the masses would become impossible. This also leads me to believe that banks and financial institutions, which stand to lose the most from BTC adoption could be the reason for such volatility! Conspiracy theory? Just might be true!

InwardContour

sr. member

Activity: 644

Merit: 260

Quote from: micky123 on August 13, 2014, 07:18:06 AM

How ironic,

here we are discussing if BTC will hit a million dollars and BTC is crashing as we speak!

There are no real major indicators as to why it is crashing though, but might just be a good time to buy. damn, why does it crash when i am broke! Huh

It's not a crash but only a downswing which will be followed by a rebound, probably in few weeks we will see again the July values.

micky123

legendary

Activity: 1022

Merit: 1005

How ironic,

here we are discussing if BTC will hit a million dollars and BTC is crashing as we speak!

There are no real major indicators as to why it is crashing though, but might just be a good time to buy. damn, why does it crash when i am broke! Huh

Hash Master

newbie

Activity: 56

Merit: 0

Quote from: btchaste on August 12, 2014, 10:52:45 AM

Quote from: botany on August 12, 2014, 10:45:52 AM

Quote from: Hash Master on August 12, 2014, 10:26:16 AM

We are talking about the price of Bitcoin, but let's not forget there are other cryptocurrencies out there, still making their way through. Wink

I am willing to wager that none of them will surpass bitcoin in market capitalization for the next 10 years. Wink

Yes no one of the altcoins will take bitcoin's place, at least in the near future.

Everything can happen, you can never know. It's a damn slippery planet.

hikedoon

full member

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No. I don't.

botany

legendary

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Merit: 1064

Quote from: keithers on August 12, 2014, 04:25:13 PM

BTC at a mill per coin would be the approximate price if it completely replaced the dollar right? Don't think it is ever going to happen.

I am bullish long term, but I think the highest we will ever go is around 10k (this is a guess obv)

Why just the dollar? It could replace all fiat currencies.

keithers

legendary

Activity: 1456

Merit: 1001

This is the land of wolves now & you're not a wolf

BTC at a mill per coin would be the approximate price if it completely replaced the dollar right? Don't think it is ever going to happen.

I am bullish long term, but I think the highest we will ever go is around 10k (this is a guess obv)

farmerJ

newbie

Activity: 46

Merit: 0

I don't think the price of 1BTC will ever worth as much as gold price per oz.

donguan

newbie

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not more than 30k i think, 30k will also take a while it is all about regulation

botany

legendary

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Quote from: Wexlike on August 12, 2014, 11:20:41 AM

I think the maximum might be 50k $.

Maximum? The Winklevoss twins' conservative estimate is that much... Grin

http://www.coindesk.com/cameron-winklevoss-bitcoin-price-40k/

Wexlike

legendary

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I think the maximum might be 50k $. But the future is full of surprises. One extreme brutal hyperinflation can destroy your FIAT wealth in a very short timeframe.

Just imagine: What would happen if only 2 million people would buy "only" one bitcoin ? 2 million people is nothing in a global scale. If we would adapt to 10 million users, the price would be already very high ! The problem is, that compared to us in the west, most of the world is poor.

I think the first big scale bitcoin adoption will happen in one of the poorer countries, that are plagued with a high inflation of their government paper money.

btchaste

newbie

Activity: 55

Merit: 0

Quote from: botany on August 12, 2014, 10:45:52 AM

Quote from: Hash Master on August 12, 2014, 10:26:16 AM

We are talking about the price of Bitcoin, but let's not forget there are other cryptocurrencies out there, still making their way through. Wink

I am willing to wager that none of them will surpass bitcoin in market capitalization for the next 10 years. Wink

Yes no one of the altcoins will take bitcoin's place, at least in the near future.

botany

legendary

Activity: 1582

Merit: 1064

Quote from: Hash Master on August 12, 2014, 10:26:16 AM

We are talking about the price of Bitcoin, but let's not forget there are other cryptocurrencies out there, still making their way through. Wink

I am willing to wager that none of them will surpass bitcoin in market capitalization for the next 10 years. Wink

Hash Master

newbie

Activity: 56

Merit: 0

We are talking about the price of Bitcoin, but let's not forget there are other cryptocurrencies out there, still making their way through. Wink

whysosweet

newbie

Activity: 40

Merit: 0

Answering to the OP, I think that the value of bitcoin will reach several thousands of dollars but not millions.

micky123

legendary

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Quote from: bobmarley650 on June 08, 2014, 03:56:13 PM

Do you really believe that Bitcoin will hit 1,000,000

analyses never ends

Hi,

I do believe BTC can reach those dizzying heights as long as we drive adoption. For example, here in India, people are totally oblivious to BTC, i always need to take some time off from my busy schedules to explain how it works. Some get the logic, some don't!

Unless we have an interface between the people who will be using BTC (Read: Common users) and the techno-whiz kids, it will take forever to reach those levels!

Think of this like microprocessors and users, most common users will struggle to use microprocessors, but they are a cinch for techno-whiz kids. Unless you have an interface (Read: Microsoft OS) which is easy to work with, we will not be able to drive adoption. My 2 satoshi! Grin

Painful Truth

sr. member

Activity: 294

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Quote from: bobmarley650 on June 08, 2014, 03:56:13 PM

Do you really believe that Bitcoin will hit 1,000,000

analyses never ends

It is more a question of possibility.

Which on is more likely: Me playing lottery every week for the next 20 years and winning the jackpot or bitcoin reaching/touching 1 Million.

Both are unlikely, but the second one seems more likely than the first in my opinion.

BTC reaching 100K within 20 Years... i would not want to bet against

cryptworld

hero member

Activity: 714

Merit: 503

i think not
100,000$ is already a really high and difficult cipher to reach
not thinking about 1 million $
I will focus on the "near" future and the 10k $ cipher

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