Economist predicts Bitcoin $25,000 | Bitcointalksearch.org

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Quote from: tokeweed on February 16, 2017, 01:31:13 AM

Quote from: HabBear on February 12, 2017, 01:02:44 AM

https://finance.yahoo.com/news/why-bitcoin-will-surge-to-25000-142402299.html

Economist predicts Bitcoin $25,000!

Part of the commentary compares it to a bubble, but one that hasn't even started it's run yet.

The best part - read the comments - a lot of ill-informed people commenting. People thinking that China can shut it down, haha.

From what rabbit hat did he get and come up with that number? If it really does reach 25k USD, then Bitcoin will be the biggest, largest, hugest bubble in the history of trading in the world. It's just so hard for me to fathom that the whole thing will be that big to support a 25k USD price per coin. BTC will have to eat up a large part of the fiat market share for that to happen. That or the darknet has to grow HUGE. Which I don't think will happen

You seem to be mistaken on this in general

25k dollars per coin is less than 25 bitcoins right now. If we assume that the number of coins remains basically the same (e.g. the supply of new coins can well be offset by the number of coins leaving circulation for good) to get there the Bitcoin user base should increase only 25 times. Further, if there are only a million active bitcoin users at the moment, we would need only around 25M active users all in all. That's nowhere near eating up even a relevant part of the fiat market. You obviously overlook that Bitcoin is still rather tiny in respect to adoption

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Quote from: HabBear on February 12, 2017, 01:02:44 AM

https://finance.yahoo.com/news/why-bitcoin-will-surge-to-25000-142402299.html

Economist predicts Bitcoin $25,000!

Part of the commentary compares it to a bubble, but one that hasn't even started it's run yet.

The best part - read the comments - a lot of ill-informed people commenting. People thinking that China can shut it down, haha.

From what rabbit hat did he get and come up with that number? If it really does reach 25k USD, then Bitcoin will be the biggest, largest, hugest bubble in the history of trading in the world. It's just so hard for me to fathom that the whole thing will be that big to support a 25k USD price per coin. BTC will have to eat up a large part of the fiat market share for that to happen. That or the darknet has to grow HUGE. Which I don't think will happen.

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Quote from: pangdmay on February 15, 2017, 10:22:35 PM

Quote from: pacifista on February 12, 2017, 06:01:10 AM

Cant wait for it to happen. And if that happens many will become millionaires in an instant. As for now its only a dream that is to hard to achieve. But im not saying that bitcoin will never get that price.

This may not happen in the short term. The faster the growth, the greater the bubble, which is not conducive to bitcoin. Maybe 50 or 60 years, it will become a reality.

In my opinion even economist cannot make exact price movement or the future value. $25000 is something unrealistic and its tough to reach in a short or long run. Even on faster growth price moves in relation to adoption and acceptance to mainstream usage.

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Quote from: pacifista on February 12, 2017, 06:01:10 AM

Cant wait for it to happen. And if that happens many will become millionaires in an instant. As for now its only a dream that is to hard to achieve. But im not saying that bitcoin will never get that price.

This may not happen in the short term. The faster the growth, the greater the bubble, which is not conducive to bitcoin. Maybe 50 or 60 years, it will become a reality.

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Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

You are not able to understand that as the price hikes even the transaction fees are also hiked so that is not a big thing as miners are also have their own expenses and they have to meet it that is why the transaction fees is high.

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Quote from: The_Dark_Knight on February 14, 2017, 09:51:43 PM

Quote from: HabBear on February 13, 2017, 10:46:50 PM

Quote from: The_Dark_Knight on February 13, 2017, 09:42:44 PM

Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

Look around you, globalization has reached its peak and we seem to be in a point on time when we are going to see a regression and we see a less globalized world and a world divided by regions, besides with the current economic issues it will not be as surprising if bitcoin reached that amount.

More specific opinions without any sort of rationale or argument.

Saying that "globalization has reached its peak" is as random and baseless as if I were to say "the sky is about to stop being blue".

For globalization to have reached its peak we'd need at least one (but probably more than one) of the following:

Population to start decreasing, meaning fewer consumers
Companies to stop wanting to sell as much goods and services, meaning fewer supply of things to buy
Countries to start building all the goods they need to function, which is geographically impossible; E.g. Japan cannot produce all the food it needs for it's population because its land is too small
People, Companies, and Countries wanting to stop making money, because globalization makes everyone richer

How is the world less globalized?

The United States the biggest champion of globalization has taken a step back and is determined to look after itself, Brexit will happen in the next 2 or 3 years, The EU is looking very shaky if Le Pen wins a Frexit will be a real possibility, borders are getting closed, and there are probably more signals, I did not say that globalization will be completely reverted, but it seems we have reached the peak of it

Britain was never truly a part of the EU, to begin with

Regarding Marine Le Pen coming to power in France, this now seems to be a plausible outcome (after Trump became the President of the US). Despite her ant-EU rhetoric, I don't really think that she will go as far as to make France leave the EU. France like Germany is the backbone of this union, and if this country leaves it, that will be the end of the united Europe. And it will certainly backfire at France itself

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Quote from: HabBear on February 13, 2017, 10:46:50 PM

Quote from: The_Dark_Knight on February 13, 2017, 09:42:44 PM

Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

Look around you, globalization has reached its peak and we seem to be in a point on time when we are going to see a regression and we see a less globalized world and a world divided by regions, besides with the current economic issues it will not be as surprising if bitcoin reached that amount.

More specific opinions without any sort of rationale or argument.

Saying that "globalization has reached its peak" is as random and baseless as if I were to say "the sky is about to stop being blue".

For globalization to have reached its peak we'd need at least one (but probably more than one) of the following:

Population to start decreasing, meaning fewer consumers
Companies to stop wanting to sell as much goods and services, meaning fewer supply of things to buy
Countries to start building all the goods they need to function, which is geographically impossible; E.g. Japan cannot produce all the food it needs for it's population because its land is too small
People, Companies, and Countries wanting to stop making money, because globalization makes everyone richer

How is the world less globalized?

The United States the biggest champion of globalization has taken a step back and is determined to look after itself, Brexit will happen in the next 2 or 3 years, The EU is looking very shaky if Le Pen wins a Frexit will be a real possibility, borders are getting closed, and there are probably more signals, I did not say that globalization will be completely reverted, but it seems we have reached the peak of it.

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Quote from: HabBear on February 12, 2017, 10:02:28 PM

Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

Why does bitcoin at $25,000 mean the end of the banks? You don't offer any reason for that statement.

For bitcoin to reach that level you have to believe that bitcoin is an investment, an asset class...like gold or stocks. Do you know what the highest price stock is? (Price per share). Berkshire Hathaway (BRKA, the A shares). The "A shares" of Berkshire Hathaway trade at $254,000 PER SHARE. And guess what, the banks are still here

Obviously, Warren Buffet doesn't want any random dude as his shareholder

Quote from: HabBear on February 12, 2017, 10:02:28 PM

My point is that the value of an asset class has zero influence on the existence of some unrelated business. People still need banks. If the price of bitcoin goes to $25,000 it does not mean that everyone will be using bitcoin. There are nearly 7 billion people in the world and only 21 million bitcoin that will ever be mined (100 years from now). Bitcoin can very well be a rich asset class that exists along side so many others and at some point will be out of reach for the common person (to own a whole coin that is)

I guess the dependence is more intricate than that

Indeed, no one (I hope) is speaking about everyone and his grandma using Bitcoin, even if its price reaches 25k dollars per coin. What I want to say is that we still can't neglect or omit the fact that Bitcoin price largely depends on Bitcoin recognition and adoption. If the latter are set to increase, the price will likely increase, especially if we talk about multifold increases (in this case, from 1k to 25k). In this way, the price growth can be a good indicator of how fast and in what amount the Bitcoin user base grows (given that the supply of new coins is firmly fixed)

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25,000 $ in my opinion is too overated as of now. The price of bitcoin right now ranges from 900$-1000$ and it going 25 times more than it's price now is to crazy unless there will be some sort of demand that will drive the price way up to that price. If that wouldn't happen, I guess it is yet another failed prediction if there.will be no good news for bitcoin in the years to come.

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Quote from: Doms on February 14, 2017, 05:25:13 AM

Anyone can have his guess as to the potential price that bitcoin can reach, and some even have theories on how that price can be achieved. These are all ok, but at the end of the day, it is still the law of supply and demand that is going to dictate how the price is going to behave for the foreseeable future.

Yeah. At the end. Only the law of supply and demand will govern on determining the price of the value of bitcoin. Because even if there is so much coin out there but no one mine it or buy it, i think the price bitcoin will not be pump. And 25k$ price is too over rated speculation.

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Anyone can have his guess as to the potential price that bitcoin can reach, and some even have theories on how that price can be achieved. These are all ok, but at the end of the day, it is still the law of supply and demand that is going to dictate how the price is going to behave for the foreseeable future.

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Quote from: Amph on February 14, 2017, 02:45:09 AM

they ar enot providing any time frame for that prediction, with these premises every prediction could be true, 25k might sound reasonable from 2020 to 2030

we have already seen more than 10x increase in the past therefore is not so out of reality to think that another one can happen in one sit

and i don't believe we necessarely need adoption increase to reach that value as unstable one, another big manipulation like willy bot can cut it

No one can predict the time but it is quite reasonable to think that the price would reach those levels as there is only a limited amount of coins and since more people are attracted to the idea of bitcoin the price will keep on increasing and i hope we will have a good price triple from the current value when its time for the next halving.

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they ar enot providing any time frame for that prediction, with these premises every prediction could be true, 25k might sound reasonable from 2020 to 2030

we have already seen more than 10x increase in the past therefore is not so out of reality to think that another one can happen in one sit

and i don't believe we necessarely need adoption increase to reach that value as unstable one, another big manipulation like willy bot can cut it

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Quote from: The_Dark_Knight on February 13, 2017, 09:42:44 PM

Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

Look around you, globalization has reached its peak and we seem to be in a point on time when we are going to see a regression and we see a less globalized world and a world divided by regions, besides with the current economic issues it will not be as surprising if bitcoin reached that amount.

More specific opinions without any sort of rationale or argument.

Saying that "globalization has reached its peak" is as random and baseless as if I were to say "the sky is about to stop being blue".

For globalization to have reached its peak we'd need at least one (but probably more than one) of the following:

Population to start decreasing, meaning fewer consumers
Companies to stop wanting to sell as much goods and services, meaning fewer supply of things to buy
Countries to start building all the goods they need to function, which is geographically impossible; E.g. Japan cannot produce all the food it needs for it's population because its land is too small
People, Companies, and Countries wanting to stop making money, because globalization makes everyone richer

How is the world less globalized?

The_Dark_Knight

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Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

Look around you, globalization has reached its peak and we seem to be in a point on time when we are going to see a regression and we see a less globalized world and a world divided by regions, besides with the current economic issues it will not be as surprising if bitcoin reached that amount.

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Quote from: HabBear on February 13, 2017, 03:49:00 PM

Quote from: Biodom on February 13, 2017, 12:36:31 PM

bitcoin at $25K is only 400bil in market cap (counting current coins only)=5% of gold, which is quite reasonable.
I fail to see how this is in any way reflects on the rest of the economy.

Biodom, I fail to see how this reality needs to reflect on the rest of the economy. I just don't understand your comment.

that was in response to the following:

Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

Obviously, I think that 25K bitcoin does NOT mean anything of sort.

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Quote from: 600watt on February 13, 2017, 03:29:27 PM

and i thought for a moment OP was referring to The Economist Cheesy

Haha, oops. That wasn't my intent but I see it now. Anything to get more people reading this post I suppose!

Quote from: bering on February 13, 2017, 12:57:06 PM

predictions could be missed anytime and i think they were too much because the price even never hit $1500 and how do it would reach $25000 and they not told to us when it would happening but i personally don't believe them

Bering, the fact that they think it could happen is about as good as they can do. Predicting the timing is impossible. Just like now one can predict when the next stock marekt crash will occur, but people can reliably say that the market is overvalued.

Quote from: Biodom on February 13, 2017, 12:36:31 PM

bitcoin at $25K is only 400bil in market cap (counting current coins only)=5% of gold, which is quite reasonable.
I fail to see how this is in any way reflects on the rest of the economy.

Biodom, I fail to see how this reality needs to reflect on the rest of the economy. I just don't understand your comment.

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and i thought for a moment OP was referring to The Economist Cheesy

bering

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predictions could be missed anytime and i think they were too much because the price even never hit $1500 and how do it would reach $25000 and they not told to us when it would happening but i personally don't believe them

Biodom

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bitcoin at $25K is only 400bil in market cap (counting current coins only)=5% of gold, which is quite reasonable.
I fail to see how this is in any way reflects on the rest of the economy.

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Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

Why does bitcoin at $25,000 mean the end of the banks? You don't offer any reason for that statement.

For bitcoin to reach that level you have to believe that bitcoin is an investment, an asset class...like gold or stocks. Do you know what the highest price stock is? (Price per share). Berkshire Hathaway (BRKA, the A shares). The "A shares" of Berkshire Hathaway trade at $254,000 PER SHARE. And guess what, the banks are still here.

My point is that the value of an asset class has zero influence on the existence of some unrelated business. People still need banks. If the price of bitcoin goes to $25,000 it does not mean that everyone will be using bitcoin. There are nearly 7 billion people in the world and only 21 million bitcoin that will ever be mined (100 years from now). Bitcoin can very well be a rich asset class that exists along side so many others and at some point will be out of reach for the common person (to own a whole coin that is).

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Quote from: Taki on February 12, 2017, 10:18:29 AM

25000$ per 1 batch is big dream of all bitcoin believes. But I think this price is impossible, it will break all financial institutes and instruments and I think main heads of government and politic just will not let it to happen.

I think this is possible, since Bitcoin is a scarce currency, and demand is constantly increasing. But I would rather see this happen over the course of several years, because such a rapid increase in price would bring instability in the market, some people would see this as a bubble, and would probably make the price drop to values much lower than twenty-five thousand dollars.

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Quote from: davis196 on February 12, 2017, 02:32:42 AM

Quote from: Ahab_Hunter_of_BearWhale on February 12, 2017, 01:37:05 AM

With side chains the 1% transaction fee will be lowered and transaction timing will be very low/quick. If Bitcoin goes mainstream it's mkt cap will HAVE to be at least 10-50k minimum. It's current mkt cap is tiny. People are going to start dumping fiat around the world, interest growing fast in unstable and high inflation/uncertainty countries - would only take moderate penetration in a few 3rd or 2nd world countries to see explosive growth in mkt cap.

If bitcoin ever reaches $25,000 all the cryptocurrency exchange platforms will sell the btc they have and run away with the money.Btc price will return to $500 and everything will start from the beginning.
Don`t be such an optimist.

lol exchange platform will not do that, scam platform maybe but some still have integrity and they would rather have the trust of the people and continue with the business. The proportion of their income will be the same since their processing fee is equivalent to the percentage of the amount being withdrawn or traded..

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Quote from: Hazir on February 12, 2017, 07:49:35 AM

... the reason he presented is too vague.
He said, bitcoin is good, limited and good as store value, therefore it will go high, no details whatsoever.

That's how economists think. It's theoretical. Those ingredients are there and the author referenced tulipomania, as a similar psychological bubble that would push up BTC, but the limited number of BTC makes it different longer term.

Quote from: https://finance.yahoo.com/news/why-bitcoin-will-surge-to-25000-142402299.html

It will take many years of great returns to remove the current skepticism on digital money.

That's good news for us acquiring BTC assets because digital currencies have pragmatic advantages! Internet shopping took a while. Now, you can buy toilet paper in Amazon pantry. Wink

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Quote from: Hazir on February 12, 2017, 08:58:15 AM

Bear in mind guys, that Lamoureux didn't specify when bitcoin will reach that $25k. He never said it will be this years, next or in 5 years.
All he said is that bitcoin will eventually cross that $25 threshold someday - and he might be right here, as I think the same.
The problem is it may not be in near future at all, but instead after next halving in 2020 or even later. So yes, he is technically right with his prediction.

This is the exact answer and that is the truth as you really cannot predict the real price of bitcoin unless you witness the price of bitcoin growing up to that range and with a limited supply it is quite possible to reach a huge amount and that too multiple times than the current value. Who knows what the price would be ten years from now ,the chances of crossing 10 k is possible and there might even be a possibility that the price could crash.

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Quote from: zby on February 12, 2017, 02:57:50 AM

What we need is $80,000 - then satoshi will be the richest man on earth!

That's an interesting thought, actually. I'm wondering what price we have to hit in order for those genesis coins to start moving. I suspect they're not going to just sit there forever--in fact, it's surprising that no one's cashed those out yet.

Don't listen to these stupid predictions. Back in 1998, they were predicting the Dow would hit 36,000 by 2000 or so. Didn't happen. Silver/goldbugs are ALWAYS predicting gold will hit $100,000 and silver $1000. Doesn't happen, won't happen. Silver hit $50 twice in history, and I'm not even sure it even broke that back in 2011. People have been predicting the end of the world since the beginning of the world. Blah blah blah.

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Quote from: HabBear on February 12, 2017, 01:02:44 AM

https://finance.yahoo.com/news/why-bitcoin-will-surge-to-25000-142402299.html

Economist predicts Bitcoin $25,000!

Part of the commentary compares it to a bubble, but one that hasn't even started it's run yet.

The best part - read the comments - a lot of ill-informed people commenting. People thinking that China can shut it down, haha.

ECONOMIST PREDICTS BITCOIN TO CRASH TO $10:

http://www.businessinsider.com/williams-bitcoin-meltdown-10-2013-12?IR=T

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Quote from: Febo on February 12, 2017, 02:24:48 PM

Quote from: CryptoDatabase on February 12, 2017, 01:22:59 PM

Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

21m BTC * 25,000 = $525,000,000,000

It would take a hell of a lot higher of a price to be the end of banks. For it to take over banks it has to be worth more than they are and I don't see that happening any time in our future.

I totally agree with that. $25k BTC is only 25 times higher price as it is now and right now is really nothing.

If my math is close to accurate, the net worth of the globe is over $250 trillion which means BTC would have to be priced at $12 million/BTC just to break the current global finances and would put 1 satoshi being worth roughly $11 each.

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Quote from: HabBear on February 12, 2017, 01:02:44 AM

https://finance.yahoo.com/news/why-bitcoin-will-surge-to-25000-142402299.html

Economist predicts Bitcoin $25,000!

Part of the commentary compares it to a bubble, but one that hasn't even started it's run yet.

The best part - read the comments - a lot of ill-informed people commenting. People thinking that China can shut it down, haha.

I think it is just a matter of time.

Quote from: CryptoDatabase on February 12, 2017, 01:22:59 PM

Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

21m BTC * 25,000 = $525,000,000,000

It would take a hell of a lot higher of a price to be the end of banks. For it to take over banks it has to be worth more than they are and I don't see that happening any time in our future.

I totally agree with that. $25k BTC is only 25 times higher price as it is now and right now is really nothing.

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$25000++!!! I mean I get it it that bitcoin has a really good future and has lot's of potential in the upcoming years for sure. But I think the prediction is too high I don't think we can expect a price of 25000$ for sure within 2-3 years. Even after bitcoin will be fully mined I think we can expect a price 5000$.

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Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

21m BTC * 25,000 = $525,000,000,000

It would take a hell of a lot higher of a price to be the end of banks. For it to take over banks it has to be worth more than they are and I don't see that happening any time in our future.

Wolf Rainer

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Quote from: davis196 on February 12, 2017, 02:32:42 AM

Quote from: Ahab_Hunter_of_BearWhale on February 12, 2017, 01:37:05 AM

With side chains the 1% transaction fee will be lowered and transaction timing will be very low/quick. If Bitcoin goes mainstream it's mkt cap will HAVE to be at least 10-50k minimum. It's current mkt cap is tiny. People are going to start dumping fiat around the world, interest growing fast in unstable and high inflation/uncertainty countries - would only take moderate penetration in a few 3rd or 2nd world countries to see explosive growth in mkt cap.

If bitcoin ever reaches $25,000 all the cryptocurrency exchange platforms will sell the btc they have and run away with the money.Btc price will return to $500 and everything will start from the beginning.
Don`t be such an optimist.

In order to sell bitcoins at 25,000 you need people to buy it, and those people will never let the bitcoins fall like that, cause the people who can spend 25,000 are millonaires with a lot of influence in the markets.

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Quote from: Taki on February 12, 2017, 10:18:29 AM

25000$ per 1 batch is big dream of all bitcoin believes. But I think this price is impossible, it will break all financial institutes and instruments and I think main heads of government and politic just will not let it to happen.

Yes, I think for now it does not happen because it is still highly impossible. As you say it will destroy the financial institutions, so maybe the government and financial institutions will take act. But good side the adoption will increase even up to 100% because rising prices. I agree with you, the price of bitcoin is currently impossible to reach $ 25,000. I believe bitcoin prices will rise, but not as much as that and in the near future.

royalfestus

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Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

Whenever it gets to that value($25000) there will be lower volume for individuals exchange. Then one can afford to pay more for transaction fee to make it faster

raven7886

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Quote from: Hazir on February 12, 2017, 08:58:15 AM

Bear in mind guys, that Lamoureux didn't specify when bitcoin will reach that $25k. He never said it will be this years, next or in 5 years.
All he said is that bitcoin will eventually cross that $25 threshold someday - and he might be right here, as I think the same.
The problem is it may not be in near future at all, but instead after next halving in 2020 or even later. So yes, he is technically right with his prediction.

No one is going to predict a market which is going to happen after 100 or 200 years. We need to be confident that bitcoin may hit $25k levels in near future maybe around next halving or well before too. Simply I mean to say, we need to analyze the supporting factors for those prices to happen rather than time line.

manselr

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Quote from: iqlimasyadiqa on February 12, 2017, 08:52:11 AM

Quote from: LFC_Bitcoin on February 12, 2017, 07:24:41 AM

$25,000 would make us insanely wealthy but a price that high seems a distant dream. A lot would have to change to make something like this a reality. Maybe many years away but not soon.

This remains a dream. it took a very remarkable thing that can make the price of bitcoin reach 25,000USD. still need a very long time, and we here certainly wanted it to happen as quickly as possible. many people will become rich because of this incident.

You are forgetting that bitcoin will grow exponentially in big bubble burst cycles, it will not be a smooth sailing trip, so nobody knows how high it will be after this $1000 floor. Now everyone knows bitcoin under $1000 is cheap, so next bubble is anyone's guess, $25,000 is certainly possible.

Taki

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25000$ per 1 batch is big dream of all bitcoin believes. But I think this price is impossible, it will break all financial institutes and instruments and I think main heads of government and politic just will not let it to happen.

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Bear in mind guys, that Lamoureux didn't specify when bitcoin will reach that $25k. He never said it will be this years, next or in 5 years.
All he said is that bitcoin will eventually cross that $25 threshold someday - and he might be right here, as I think the same.
The problem is it may not be in near future at all, but instead after next halving in 2020 or even later. So yes, he is technically right with his prediction.

iqlimasyadiqa

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Quote from: LFC_Bitcoin on February 12, 2017, 07:24:41 AM

$25,000 would make us insanely wealthy but a price that high seems a distant dream. A lot would have to change to make something like this a reality. Maybe many years away but not soon.

This remains a dream. it took a very remarkable thing that can make the price of bitcoin reach 25,000USD. still need a very long time, and we here certainly wanted it to happen as quickly as possible. many people will become rich because of this incident.

n691309

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Quote from: HabBear on February 12, 2017, 01:02:44 AM

https://finance.yahoo.com/news/why-bitcoin-will-surge-to-25000-142402299.html
Economist predicts Bitcoin $25,000!
Part of the commentary compares it to a bubble, but one that hasn't even started it's run yet.
The best part - read the comments - a lot of ill-informed people commenting. People thinking that China can shut it down, haha.

Too much fantasy here, I don't think that the time when bitcoin price will be $25,000 is near, at least not for the next few years (meaning that for this decade we can't see $xx,xxx). I think that this news is to make people think that investing in bitcoin now can be very profitable and people that already have bitcoin to not sell but to hold for a longer time.

Shiroslullaby

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People are always making these predictions to hype a story.
It would take some huge event for the price to go up that much. T
he reality is that until there are faster confirmations on the blockchain, Bitcoin is never going to be used for more than internet money.

Unless the average person has a way to change fiat to BTC and vise-versa, or spend Bitcoin in a physical shop,
there will never be the mass adoption that would increase demand and drive the price that high.

Hazir

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Quote from: panju1 on February 12, 2017, 07:22:36 AM

Quote from: HabBear on February 12, 2017, 01:02:44 AM

https://finance.yahoo.com/news/why-bitcoin-will-surge-to-25000-142402299.html

Economist predicts Bitcoin $25,000!

Part of the commentary compares it to a bubble, but one that hasn't even started it's run yet.

The best part - read the comments - a lot of ill-informed people commenting. People thinking that China can shut it down, haha.

I read the article and I didn't find the author mentioning a time frame for this to happen. That is the easy way for him to hedge his bets.
I respect economists who give a time frame - like the guy who said Bitcoin will reach $10 in a year's time. He might have got it wrong, but he had the courage to state his beliefs.

It was Tim Draper, and he said that bitcoin will reach $10.000 on the wave of hype after that bubble of 2013.
He later revised his prediction and said it won't be possible for BTC to spike that much.
Well, like Yves Lamoureux I would like to see bitcoin skyrocketing to $25k too, but the reason he presented is too vague.
He said, bitcoin is good, limited and good as store value, therefore it will go high, no details whatsoever.

LFC_Bitcoin

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$25,000 would make us insanely wealthy but a price that high seems a distant dream. A lot would have to change to make something like this a reality. Maybe many years away but not soon.

panju1

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Quote from: HabBear on February 12, 2017, 01:02:44 AM

https://finance.yahoo.com/news/why-bitcoin-will-surge-to-25000-142402299.html

Economist predicts Bitcoin $25,000!

Part of the commentary compares it to a bubble, but one that hasn't even started it's run yet.

The best part - read the comments - a lot of ill-informed people commenting. People thinking that China can shut it down, haha.

I read the article and I didn't find the author mentioning a time frame for this to happen. That is the easy way for him to hedge his bets.
I respect economists who give a time frame - like the guy who said Bitcoin will reach $10 in a year's time. He might have got it wrong, but he had the courage to state his beliefs.

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Quote from: Denker on February 12, 2017, 06:37:21 AM

I don't like articles like that. Mostly wild guessing, someone's asking his crystal ball and that's it.
An expert has spoken! Cheesy

Quote

It will take many years of great returns to remove the current skepticism on digital money. And there will be pressure from governments to regulate it, which in the end, will only lend it more legitimacy.

So I would say we are speaking about a time frame of at least 2-3 decades!
I mean come one let's be realistic.
Gosh who knows if Bitcoin will still be the dominant open Blockchain then?! I hope so!
But hey... this article is shitty.

i don't know what crossed in his mind doing that article and telling that the price would provably reach for 25,000$! and i don't know what is his strong basis while in reality we cannot actually tell if it would be happen or not, much better if we just predict little low so that the eyebrows of critics will not rise for this one 25,000$ road will be the thougest one to reach and if that would be happen i think we can see bitcoins accepted on malls and any other offline business.

Denker

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I don't like articles like that. Mostly wild guessing, someone's asking his crystal ball and that's it.
An expert has spoken! Cheesy

Quote

It will take many years of great returns to remove the current skepticism on digital money. And there will be pressure from governments to regulate it, which in the end, will only lend it more legitimacy.

So I would say we are speaking about a time frame of at least 2-3 decades!
I mean come one let's be realistic.
Gosh who knows if Bitcoin will still be the dominant open Blockchain then?! I hope so!
But hey... this article is shitty.

agustina2

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Quote from: HabBear on February 12, 2017, 01:02:44 AM

https://finance.yahoo.com/news/why-bitcoin-will-surge-to-25000-142402299.html

Economist predicts Bitcoin $25,000!

Part of the commentary compares it to a bubble, but one that hasn't even started it's run yet.

The best part - read the comments - a lot of ill-informed people commenting. People thinking that China can shut it down, haha.

So it will be bubble by bubble basis. More bubbles will eventually leads to a huge bubble that will give intense and thrilling experience while using bitcoin. Well it was started when the price hits $300 after those tremendous price decrease.

Well it's not that wrong to be more confident about some speculations about the huge price increase in bitcoin. Just sort those speculations with valid basis and arguments to those malnourished one so that we can have a healthy predictions.

mindrust

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Quote from: davis196 on February 12, 2017, 02:32:42 AM

Quote from: Ahab_Hunter_of_BearWhale on February 12, 2017, 01:37:05 AM

With side chains the 1% transaction fee will be lowered and transaction timing will be very low/quick. If Bitcoin goes mainstream it's mkt cap will HAVE to be at least 10-50k minimum. It's current mkt cap is tiny. People are going to start dumping fiat around the world, interest growing fast in unstable and high inflation/uncertainty countries - would only take moderate penetration in a few 3rd or 2nd world countries to see explosive growth in mkt cap.

If bitcoin ever reaches $25,000 all the cryptocurrency exchange platforms will sell the btc they have and run away with the money.Btc price will return to $500 and everything will start from the beginning.
Don`t be such an optimist.

But your story is more optimistic than his.

I would definitely prefer this story over his. Because when your story happens and btc falls down to 500$, people will be buying tons of btc and it will jump back to 25k$ again.

It happened before(1000$>150$>1000$), and there is no reason for it not to happen again.

Shinpako09

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I would love that price but i dont want to think too much on such price. Not all prediction is accurate. If that price would happen for sure it wont last long and would drop again very fast.

Cashew

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Quote from: CyberKuro on February 12, 2017, 05:20:02 AM

Quote from: Cashew on February 12, 2017, 04:14:20 AM

Quote from: davis196 on February 12, 2017, 02:32:42 AM

Quote from: Ahab_Hunter_of_BearWhale on February 12, 2017, 01:37:05 AM

With side chains the 1% transaction fee will be lowered and transaction timing will be very low/quick. If Bitcoin goes mainstream it's mkt cap will HAVE to be at least 10-50k minimum. It's current mkt cap is tiny. People are going to start dumping fiat around the world, interest growing fast in unstable and high inflation/uncertainty countries - would only take moderate penetration in a few 3rd or 2nd world countries to see explosive growth in mkt cap.

If bitcoin ever reaches $25,000 all the cryptocurrency exchange platforms will sell the btc they have and run away with the money.Btc price will return to $500 and everything will start from the beginning.
Don`t be such an optimist.

You are taking the actual scheme of things, but when Bitcoin will be at 25 000$, they will not sell it anymore for cash, as Bitcoin will be favoured by the great financial power. This however assumes that Bitcoin reached that price which seems me quite a little dream.

Bitcoin will always rise up I think, as limited supply of bitcoin and increases demand over time, no doubt of that.
But, wil it ever reach more than $5000/$10000/$25000 in the future? Only time will tell, we're moving to reach $2000 in this year.
People won't sell any bitcoin for fiat money anymore, if daily needs and all aspects of life will accept bitcoin as a method of payment, a long way and many years to see, how we can make it.

We are speculating until a too long point. To be sure, I have made all my maths on how much I need to have to fullfill my dream based on 5000$/BTC in 2020. So everything above this price will be just a pure bonus !

pacifista

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Cant wait for it to happen. And if that happens many will become millionaires in an instant. As for now its only a dream that is to hard to achieve. But im not saying that bitcoin will never get that price.

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Quote from: Cashew on February 12, 2017, 04:14:20 AM

Quote from: davis196 on February 12, 2017, 02:32:42 AM

Quote from: Ahab_Hunter_of_BearWhale on February 12, 2017, 01:37:05 AM

With side chains the 1% transaction fee will be lowered and transaction timing will be very low/quick. If Bitcoin goes mainstream it's mkt cap will HAVE to be at least 10-50k minimum. It's current mkt cap is tiny. People are going to start dumping fiat around the world, interest growing fast in unstable and high inflation/uncertainty countries - would only take moderate penetration in a few 3rd or 2nd world countries to see explosive growth in mkt cap.

If bitcoin ever reaches $25,000 all the cryptocurrency exchange platforms will sell the btc they have and run away with the money.Btc price will return to $500 and everything will start from the beginning.
Don`t be such an optimist.

You are taking the actual scheme of things, but when Bitcoin will be at 25 000$, they will not sell it anymore for cash, as Bitcoin will be favoured by the great financial power. This however assumes that Bitcoin reached that price which seems me quite a little dream.

Bitcoin will always rise up I think, as limited supply of bitcoin and increases demand over time, no doubt of that.
But, wil it ever reach more than $5000/$10000/$25000 in the future? Only time will tell, we're moving to reach $2000 in this year.
People won't sell any bitcoin for fiat money anymore, if daily needs and all aspects of life will accept bitcoin as a method of payment, a long way and many years to see, how we can make it.

Pierre 2

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I think there are 2 chances to happen if we could reach that price:
1. Bitcoin will be valuable asset, everyone will start to accept it so noone will sell and run.
2. Bitcoin will be like bubble, everyone will sell and run.

First is bigger chance because it will happen "over time" not in one night. Maybe like 30 years etc.

Cashew

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Quote from: davis196 on February 12, 2017, 02:32:42 AM

Quote from: Ahab_Hunter_of_BearWhale on February 12, 2017, 01:37:05 AM

With side chains the 1% transaction fee will be lowered and transaction timing will be very low/quick. If Bitcoin goes mainstream it's mkt cap will HAVE to be at least 10-50k minimum. It's current mkt cap is tiny. People are going to start dumping fiat around the world, interest growing fast in unstable and high inflation/uncertainty countries - would only take moderate penetration in a few 3rd or 2nd world countries to see explosive growth in mkt cap.

If bitcoin ever reaches $25,000 all the cryptocurrency exchange platforms will sell the btc they have and run away with the money.Btc price will return to $500 and everything will start from the beginning.
Don`t be such an optimist.

You are taking the actual scheme of things, but when Bitcoin will be at 25 000$, they will not sell it anymore for cash, as Bitcoin will be favoured by the great financial power. This however assumes that Bitcoin reached that price which seems me quite a little dream.

Loepuenkyou

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Quote from: davis196 on February 12, 2017, 02:32:42 AM

Quote from: Ahab_Hunter_of_BearWhale on February 12, 2017, 01:37:05 AM

With side chains the 1% transaction fee will be lowered and transaction timing will be very low/quick. If Bitcoin goes mainstream it's mkt cap will HAVE to be at least 10-50k minimum. It's current mkt cap is tiny. People are going to start dumping fiat around the world, interest growing fast in unstable and high inflation/uncertainty countries - would only take moderate penetration in a few 3rd or 2nd world countries to see explosive growth in mkt cap.

If bitcoin ever reaches $25,000 all the cryptocurrency exchange platforms will sell the btc they have and run away with the money.Btc price will return to $500 and everything will start from the beginning.
Don`t be such an optimist.

iam agree youre statement don't over optimist,if bitcoin price incraese until rech too
butd don't pessimist too, if bitcoin price down until reach 500 dollar
use good analys so not over optimist and pessimist

zby

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What we need is $80,000 - then satoshi will be the richest man on earth!

digaran

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There is a blockade in the way of bitcoin scaling, I think devs should consider increasing the block size by 50% for now and then decrease the difficulty accordingly. however $25k is inevitable and we'll see that day soon in few years, that is why people should start mining even if they are paying from pockets for electricity. my plan is to do that and hold my coins for the time when price reaches a profit for all past investments since if we are to mine for now without profit it's like investing for future profit.

davis196

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Quote from: Ahab_Hunter_of_BearWhale on February 12, 2017, 01:37:05 AM

With side chains the 1% transaction fee will be lowered and transaction timing will be very low/quick. If Bitcoin goes mainstream it's mkt cap will HAVE to be at least 10-50k minimum. It's current mkt cap is tiny. People are going to start dumping fiat around the world, interest growing fast in unstable and high inflation/uncertainty countries - would only take moderate penetration in a few 3rd or 2nd world countries to see explosive growth in mkt cap.

If bitcoin ever reaches $25,000 all the cryptocurrency exchange platforms will sell the btc they have and run away with the money.Btc price will return to $500 and everything will start from the beginning.
Don`t be such an optimist.

Ahab_Hunter_of_BearWhale

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With side chains the 1% transaction fee will be lowered and transaction timing will be very low/quick. If Bitcoin goes mainstream it's mkt cap will HAVE to be at least 10-50k minimum. It's current mkt cap is tiny. People are going to start dumping fiat around the world, interest growing fast in unstable and high inflation/uncertainty countries - would only take moderate penetration in a few 3rd or 2nd world countries to see explosive growth in mkt cap.

Wolf Rainer

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Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

HabBear

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https://finance.yahoo.com/news/why-bitcoin-will-surge-to-25000-142402299.html

Economist predicts Bitcoin $25,000!

Part of the commentary compares it to a bubble, but one that hasn't even started it's run yet.

The best part - read the comments - a lot of ill-informed people commenting. People thinking that China can shut it down, haha.

Topic: Economist predicts Bitcoin $25,000 (Read 2786 times)