Topic: Everyone will cash out at $1000 - page 4. (Read 9431 times)

Only if hashrate grows about +10% per retarget next 15 years. How likely is that?
Otherwise it will be cheaper to mine it with today units

what so stupid about a bolder bath


 

crypto market fork 

You mean a 'return' of $? Maybe you don't want your $ returned. Good riddance.

You will have off-chain service for daily small transactions, and even better you can mortgage your coins and get fiat loan to spend. This day will not be too far away once bitcoin can be traded on large forex exchanges, then some investment bank will package bitcoins and make various financial products, just like they did with housing, no one can stop it from happening

i can attest to that. all the way up to $100/btc i was screaming overbought...then when we went over $200 "we're never gonna stop no one's selling anymore buy buy buy" hahahaha

lessons learned 

This is a sad but true issue with bitcoin - do people want to get into it because it's the goose that lays dollars or because they want to support a fantastic movement towards decentralized regulated economies.  I'm afraid a lot of people are in it for the dollars and they are hoarding until the value is so high that they can cash out...  I really hope that more people realize that this is and will continue to be an uphill battle and now matter where battles are fought, they require people and "money" to succeed.  Bitcoin, at this point, could be bought out by a single person...  sad but true, this is a very fragile economy!  I'm guessing if we ever want to see coins at $1000 we (as a community) need to realize the greater good - mine for the sake of keeping the network strong (helping to prevent the obvious 51% attack), contribute to forums, talk about it with people who don't know anything about it and get developers interested in creating sites, apps and hardware that support bitcoin...  I'm super excited about bitcoin and really hope that it continues to grow; I'd LOVE to see $1000 considering I've been mining for some time and bought quite a few coins at $5/per... but more than seeing significant growth in fiat, I'd rather see significant growth in the COMMUNITY!

A bunch of people were dreaming about how fantastic it would be if each BTC was worth $100.

But you know what takes over when you are near your price? Greeeeed.

If it goes to $1000, $2000 is only one doubling away...

If they're lucky, they do.  But no one can call the market perfectly.  Even with attempted manipulation, those whales can very well lose a good chunk of their coin.

That might be true today, but you can guarantee that the more BTC is worth, the more VC's and the like will be pouring money into Bitcoin-related ventures to solve exactly these types of problems.

I think it's quite funny to see how people think $1000 is a high price for a bitcoin.

Think about the size of the world economy -- tens of trillions of USD, at least -- and the current size of the Bitcoin market -- just over 1 billion. Going to ten billion is a drop in the bucket. Hundred billion isn't a stretch either. Considering Bitcoin's lack of need for trust in human beings, a trillion wouldn't surprise me at all. That's $100,000 per bitcoin. China and Russia know that their currencies are weak, because they don't have the connections the Euro CB or Federal Reserve have. When they decide to dump all their nearly worthless, depreciated USD and invest in BTC for their reserve currencies, the market going to ten trillion is not unreasonable at all. And then you have $1,000,000 per Bitcoin.

Too much higher than that and you run up against the size of the entire world economy.

Also, it's likely that other cryptocurrencies will comprise a solid chunk of the economy, too. A million per coin sounds like a more likely ceiling than a thousand. I actually think it will slowly rise to a few million once it hits a million (in 2018 I predict).

The Foundation have stated they'll be adjusting the protocol to be more microtransaction-friendly as the value rises.

Not true. I plan to hold my BTC until the price tops out (over a million) and then simply spend them. Why would I need cash when everyone accepts bitcoin?

994 then

Exactly. Until the network architecture can increase the number of transactions per second, it won't be economical to use Bitcoin for small purchases when the price goes past roughly $500/coin.

But bitcoin can not be used as a currency because of very low transaction/sec limit

Be patient, it's not going to happen in one day, but here are some high-end offer: http://www.bitpremier.com/

Because I can't use it on amazon or to pay to people who are selling their flat.

Why do you want to cash out to fiat money instead of directly spend them? If you don't want to spend them why exchange to fiat currency which lose its value over time (can be printed out of nothing)?

If you are anticipating that the price will fall after reach $1000, then it is another topic. This spring, some one forecasted that 20,30,50,70,100,200 to be the top of bitcoin exchange price and they failed most of the time, no one can call the top

995.1337 

.