I seriously hope bitcoin is the myspace of cryptocurrencies.
See https://bitcointalksearch.org/topic/m.1897702
Topic: Does Bitcoin have what it takes to become a trillion dollar industry? - page 2. (Read 1904 times)
May 13, 2013, 08:45:29 AM
May 13, 2013, 08:00:13 AM
If the rich decide to utilize bitcoin for it's ability to store and send wealth across borders
if bitcoin begins to be used in trade by 10's of millions of people.
Yes, it's possible.
if bitcoin begins to be used in trade by 10's of millions of people.
Yes, it's possible.
May 13, 2013, 02:53:51 AM
For bitcoin to hit 1T it would have to be 1000x bigger then it is now. Hrm, I just don't see it happening anytime soon.
May 13, 2013, 12:06:30 AM
Quote
the price of bitcoins will need to rise to $50,000 a piece.
In order for this to happen, I strongly believe gold or silver would need to reach a higher amount first.
Gold > Silver > BitCoin
Not exactly... For this to happen, every single bitcoin must be able to buy, on average, $50,000 worth of goods and services at any given point in time. So, if you can imagine the possibility of a future where there will be plenty of merchants selling $1,050,000,000,000 worth of goods/services for bitcoin on a regular basis (and not merely transferring those coins into fiat currencies on the spot), then it's very likely that bitcoins would reach a valuation of $50,000 each.
May 12, 2013, 11:32:42 PM
Quote
the price of bitcoins will need to rise to $50,000 a piece.
In order for this to happen, I strongly believe gold or silver would need to reach a higher amount first.
Gold > Silver > BitCoin
May 12, 2013, 10:00:01 PM
My odds about Bitcoin market cap
10B - 90% ($0/BTC otherwise)
50B - 50%
100B - 20%
>200B - 5%
10B - 90% ($0/BTC otherwise)
50B - 50%
100B - 20%
>200B - 5%
May 12, 2013, 07:55:58 PM
I hope so too, but highly unlikely. Just some flaws that others have pointed out in other threads that are its glaring weakness. These weaknesses wont allow it to dominate and be accepted. I sorta think about bitcoin as myspace and MAYBE another crypto coin can be facebook?
Maybe btc is facebook, time will tell, thats the best part!
Maybe btc is facebook, time will tell, thats the best part!
May 12, 2013, 04:23:21 PM
My guess is as good as anyone's, I hope it does, that would be nice.
Guess, we'll have to wait and see.
Guess, we'll have to wait and see.
May 12, 2013, 04:20:26 PM
Right now bitcoins is a billion dollar industry based on the price per bitcoin and the current number of bitcoins which are out there. However in order for bitcoins to become a trillion dollar industry once the maximum of 21,000,000 bitcoins have been released, the price of bitcoins will need to rise to $50,000 a piece. Do you guys believe that it can happen and that bitcoins can become a multi-trillion dollar industry.
And if you don't believe it can happen do you believe the value of all cryto-currencies combined can make it happen because litecoins are already a multi-million dollar industry and so are a few others I believe.
And if you don't believe it can happen do you believe the value of all cryto-currencies combined can make it happen because litecoins are already a multi-million dollar industry and so are a few others I believe.
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