Explain WHY bitcoin will be worth 1-3000 USD

sanadas

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Quote from: harizen on June 05, 2016, 10:59:54 AM

Quote from: RoseMann on June 05, 2016, 10:41:51 AM

The price of bitcoin is an indication of its usage. the more the usage, or the adoption, the higher the price.

Then how can we tell if that increased numbers of usage came from different person? The increase of adoption must came from different persons. It's really increasing as time is passing but today I see no great numbers of adoption.

Most of the traders are acquiring more coins at least when there is a chance. Meaning most of stats from active usage came from same person. They just increase their bitcoin numbers on hand.

Maybe the total number of transactions over certain value could be a good indication. That should exclude the dust transactions.

600watt

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Quote from: zimmah on May 30, 2016, 05:21:41 AM

one of the main reasons is, there are 7.4 billion people in the world, and there's several trillions of dollars on the world but there will only ever be 21 million bitcoin.

Currently there's 15 million bitcoin.

So, if we divide all bitcoin evenly over 7.4 billion people that means that every person will have 0.00283783 bitcoin on average.

That's a tiny amount of bitcoin.

Of course, if bitcoin would still only be worth $500 than most people could easily buy 1, 10 or even 100 or 1000 bitcoin.

But there's not enough bitcoin for everyone to have 1, 10, 100 or 1000 bitcoin, only a few people can have that many, and the rest will have to do with 1/1000th of a bitcoin or less.

So therefore, 1 bitcoin has to be so massively expensive that most people will not be able to afford one in their lifetime

that is of course assuming that bitcoin will be used by everyone eventually.

But even if bitcoin will only be used by 1% of the worlds population that that still means that bitcoin will reach high amount, just not as high as it would otherwise (still easily $10,000)

this.
the logic is simple. bitcoin can fail and price could drop, so you lose your invested money. which is a fixed numer. on the other hand bitcoin could succeed. mass adoption event of hyper-internet-monetization epicness is possible. that means hundreds of million or even billion of people will use bitcoin. in order to serve this demand those few million existing bitcoins must improve in orders of magnitude. so the upside of this investment is unpredictibly high. if you ever played poker you know that this bet is almost a no-brainer. if bitcoin succeeds it will be big.

harizen

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Quote from: RoseMann on June 05, 2016, 10:41:51 AM

The price of bitcoin is an indication of its usage. the more the usage, or the adoption, the higher the price.

Then how can we tell if that increased numbers of usage came from different person? The increase of adoption must came from different persons. It's really increasing as time is passing but today I see no great numbers of adoption.

Most of the traders are acquiring more coins at least when there is a chance. Meaning most of stats from active usage came from same person. They just increase their bitcoin numbers on hand.

RoseMann

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Quote from: sanadas on May 31, 2016, 04:27:59 AM

Quote from: zimmah on May 30, 2016, 05:25:10 AM

Quote from: MatTheCat on February 21, 2016, 06:14:28 AM

Quote from: 1Referee on February 21, 2016, 05:55:16 AM

People who say that Bitcoin can reach $1 million per coin at some poin in the future are not being realistic. They keep fooling themselfs. I think anything between $1000-$5000 is surely possible. Especially when Bitcoin is getting used as an investment tool by institutional investors. These guys have the money to move Bitcoin beyond what we think is possible. Without them we'll probably keep sitting below $5000 for ever. We only need Bitcoin to gain more popularity among average joe people as being a currency and an investment tool. The rest will go automatically.

Bitcoin is controlled by a Chinese cabal. They have Bitcoin stitched right up in terms of mining capacity and in terms of control of Bitcoin 'wealth', Satoshi's coin stash notwitstanding.

If Western institutions pile into Bitcoin, then they are piling into Chinaman's business and enriching Chinaman. If Western Institutions are eager to make use of 'blockchain' technology, then there are plenty other alternatives that they could turn to other than hyper expensive, bloated, and lets face it, very slow Bitcoin.

Bitcoin goes up, when the Chinese whales decide to pump it. Bitcoin goes down, when they decide to dump it.

Bitcoin's only advantage over existing means of electronic payment, is in it's ability to avoid government capital controls.

If Bitcoin is going to hit new ATHs, it aint gonna be institutional investors coming into the frame, it is going to be an increase in demand due ton Capital Flight (probably from China), and the Chinese Bitcoin Cowboys ramping Bitcoin into the stratosphere to ensure that the Capital Flightees pay top dollar for their Bitcoin. Thus Joe Bitcoiner hopes to get rich on the back of economic chaos and mass suffering in the most populated nation on the face of the Earth.

Quote from: r0ach on February 21, 2016, 05:47:19 AM

http://www.zerohedge.com/news/2014-07-10/pure-madness-revenueless-assetless-sync-continues-over-5bn-now-bigger-cablevision-an

And indeed, one should never underestimate the avalanche effect of mass public greed, which is why the old adage of the majority always losing holds true. The majority who invest money in a vacuos asset like Bitcoin are certain to lose and those who win or hope to win are exploiting the stupidty of other humans, whilst neither creating nor offering anything of value in exchange for their profit. The very definition of a 'rat race'.

you're forgetting that bitcoin is starting to get widely used all over the world, and those investors are sure as hell not going to want to miss the boat and let "chinamen" have all the bitcoins.

I think the bitcoin usage is not widely at the moment. But the adoption is increasing all the time.

The price of bitcoin is an indication of its usage. the more the usage, or the adoption, the higher the price.

sanadas

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Quote from: zimmah on May 30, 2016, 05:25:10 AM

Quote from: MatTheCat on February 21, 2016, 06:14:28 AM

Quote from: 1Referee on February 21, 2016, 05:55:16 AM

People who say that Bitcoin can reach $1 million per coin at some poin in the future are not being realistic. They keep fooling themselfs. I think anything between $1000-$5000 is surely possible. Especially when Bitcoin is getting used as an investment tool by institutional investors. These guys have the money to move Bitcoin beyond what we think is possible. Without them we'll probably keep sitting below $5000 for ever. We only need Bitcoin to gain more popularity among average joe people as being a currency and an investment tool. The rest will go automatically.

Bitcoin is controlled by a Chinese cabal. They have Bitcoin stitched right up in terms of mining capacity and in terms of control of Bitcoin 'wealth', Satoshi's coin stash notwitstanding.

If Western institutions pile into Bitcoin, then they are piling into Chinaman's business and enriching Chinaman. If Western Institutions are eager to make use of 'blockchain' technology, then there are plenty other alternatives that they could turn to other than hyper expensive, bloated, and lets face it, very slow Bitcoin.

Bitcoin goes up, when the Chinese whales decide to pump it. Bitcoin goes down, when they decide to dump it.

Bitcoin's only advantage over existing means of electronic payment, is in it's ability to avoid government capital controls.

If Bitcoin is going to hit new ATHs, it aint gonna be institutional investors coming into the frame, it is going to be an increase in demand due ton Capital Flight (probably from China), and the Chinese Bitcoin Cowboys ramping Bitcoin into the stratosphere to ensure that the Capital Flightees pay top dollar for their Bitcoin. Thus Joe Bitcoiner hopes to get rich on the back of economic chaos and mass suffering in the most populated nation on the face of the Earth.

Quote from: r0ach on February 21, 2016, 05:47:19 AM

http://www.zerohedge.com/news/2014-07-10/pure-madness-revenueless-assetless-sync-continues-over-5bn-now-bigger-cablevision-an

And indeed, one should never underestimate the avalanche effect of mass public greed, which is why the old adage of the majority always losing holds true. The majority who invest money in a vacuos asset like Bitcoin are certain to lose and those who win or hope to win are exploiting the stupidty of other humans, whilst neither creating nor offering anything of value in exchange for their profit. The very definition of a 'rat race'.

you're forgetting that bitcoin is starting to get widely used all over the world, and those investors are sure as hell not going to want to miss the boat and let "chinamen" have all the bitcoins.

I think the bitcoin usage is not widely at the moment. But the adoption is increasing all the time.

zimmah

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Quote from: MatTheCat on February 21, 2016, 06:14:28 AM

Quote from: 1Referee on February 21, 2016, 05:55:16 AM

People who say that Bitcoin can reach $1 million per coin at some poin in the future are not being realistic. They keep fooling themselfs. I think anything between $1000-$5000 is surely possible. Especially when Bitcoin is getting used as an investment tool by institutional investors. These guys have the money to move Bitcoin beyond what we think is possible. Without them we'll probably keep sitting below $5000 for ever. We only need Bitcoin to gain more popularity among average joe people as being a currency and an investment tool. The rest will go automatically.

Bitcoin is controlled by a Chinese cabal. They have Bitcoin stitched right up in terms of mining capacity and in terms of control of Bitcoin 'wealth', Satoshi's coin stash notwitstanding.

If Western institutions pile into Bitcoin, then they are piling into Chinaman's business and enriching Chinaman. If Western Institutions are eager to make use of 'blockchain' technology, then there are plenty other alternatives that they could turn to other than hyper expensive, bloated, and lets face it, very slow Bitcoin.

Bitcoin goes up, when the Chinese whales decide to pump it. Bitcoin goes down, when they decide to dump it.

Bitcoin's only advantage over existing means of electronic payment, is in it's ability to avoid government capital controls.

If Bitcoin is going to hit new ATHs, it aint gonna be institutional investors coming into the frame, it is going to be an increase in demand due ton Capital Flight (probably from China), and the Chinese Bitcoin Cowboys ramping Bitcoin into the stratosphere to ensure that the Capital Flightees pay top dollar for their Bitcoin. Thus Joe Bitcoiner hopes to get rich on the back of economic chaos and mass suffering in the most populated nation on the face of the Earth.

Quote from: r0ach on February 21, 2016, 05:47:19 AM

http://www.zerohedge.com/news/2014-07-10/pure-madness-revenueless-assetless-sync-continues-over-5bn-now-bigger-cablevision-an

And indeed, one should never underestimate the avalanche effect of mass public greed, which is why the old adage of the majority always losing holds true. The majority who invest money in a vacuos asset like Bitcoin are certain to lose and those who win or hope to win are exploiting the stupidty of other humans, whilst neither creating nor offering anything of value in exchange for their profit. The very definition of a 'rat race'.

you're forgetting that bitcoin is starting to get widely used all over the world, and those investors are sure as hell not going to want to miss the boat and let "chinamen" have all the bitcoins.

zimmah

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one of the main reasons is, there are 7.4 billion people in the world, and there's several trillions of dollars on the world but there will only ever be 21 million bitcoin.

Currently there's 15 million bitcoin.

So, if we divide all bitcoin evenly over 7.4 billion people that means that every person will have 0.00283783 bitcoin on average.

That's a tiny amount of bitcoin.

Of course, if bitcoin would still only be worth $500 than most people could easily buy 1, 10 or even 100 or 1000 bitcoin.

But there's not enough bitcoin for everyone to have 1, 10, 100 or 1000 bitcoin, only a few people can have that many, and the rest will have to do with 1/1000th of a bitcoin or less.

So therefore, 1 bitcoin has to be so massively expensive that most people will not be able to afford one in their lifetime

that is of course assuming that bitcoin will be used by everyone eventually.

But even if bitcoin will only be used by 1% of the worlds population that that still means that bitcoin will reach high amount, just not as high as it would otherwise (still easily $10,000)

sanadas

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Quote from: ?? on ??

Quote from: sanadas on May 02, 2016, 02:24:43 AM

Quote from: italianobitcoin on April 29, 2016, 11:13:15 AM

The value of Bitcoin is now quite stable and that is not that bad but the most people are hoping that the value will be more worth soon so they can also have more money.
But the reach a higher value it will really takes a long time until you can have a lot of profit with it,

I have different opinion. I just wish the bitcoin price rises only 1% a month. The stability will make it useful.

If it is so stable, the price will be much higher. I think it is better to rise 1% a week instead of a months.

1% increase on average a week is even better. For the last 6 years, the average increase is more than 1% a week.

sanadas

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Quote from: italianobitcoin on April 29, 2016, 11:13:15 AM

The value of Bitcoin is now quite stable and that is not that bad but the most people are hoping that the value will be more worth soon so they can also have more money.
But the reach a higher value it will really takes a long time until you can have a lot of profit with it,

I have different opinion. I just wish the bitcoin price rises only 1% a month. The stability will make it useful.

italianobitcoin

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Forza Italia

The value of Bitcoin is now quite stable and that is not that bad but the most people are hoping that the value will be more worth soon so they can also have more money.
But the reach a higher value it will really takes a long time until you can have a lot of profit with it,

target

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Quote from: Digitalbitcoin on March 08, 2016, 05:41:55 PM

Quote from: NeuroticFish on March 08, 2016, 05:36:15 PM

Some optimistic calculation tells that someday much more people will want to own BTC. Since the quantity of all bitcoin "in the world" ever is not great, the price should rise.

Too optimistic? Time will tell.

Very true. In world till 2145 bitcoin mining will work and till that time 21 billion bitcoins will be generated. After finishing all blocks there will be just interaction and exchange of bitcoins. So in that case value of bitcoin and some other cryptocurrency will be higher. That amount cannot predict now. But as per my opinion it will goes up to $10000+.

Once 21 million are already generated, its also the start of the decline of price as the money will be distributed to some coins that existed.
thus the reason why new coins these days has about 100 million of supply to last the more generations. sure we're all be dead by 2145 though

aleandromagno

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Quote from: BitMaxz on April 29, 2016, 09:32:07 AM

Quote from: aleandromagno on April 29, 2016, 09:18:03 AM

Quote from: asrilani on April 29, 2016, 08:39:04 AM

Quote from: richjohn on April 27, 2016, 02:24:02 AM

Quote from: KennyR on April 27, 2016, 02:21:45 AM

Quote from: NeuroticFish on March 08, 2016, 05:36:15 PM

Some optimistic calculation tells that someday much more people will want to own BTC. Since the quantity of all bitcoin "in the world" ever is not great, the price should rise.

Too optimistic? Time will tell.

It the real fact for which bitcoin is expected to touch $3000 in the future, though the price seems to be high compared to most other countries currencies.

In reality it is really possible to touch $3000 in the future. Like what happenee in the past that it only costs cents and now it is the cryptocurrency with a highest price.

$3000 is the possible price to have. But it might be reached within the next two years. It is possible in 5 years.

Not necessarily last for so long .. Just that Bitcoin is accepted by Facebook or Google, and we have $ 3,000 in a week Wink

I think facebook and google dont need bitcoin.. and what do you mean that we have $3000 in a week?
as my speculation in 2 years the price of bitcoin will reach around 1k to 2k value maybe in 4 years we will see that the price reach 3000 value..

Facebook, Google - these are only symbols of mainstream.. It can be McDonalds or Walmart.. When some giant company will start accepting Bitcoin price can jump up to $3000 even in few days.. ok .. let say in one month..

pereira4

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Easy, real price surge hasn't even begun. We are not even in teh double figures marketcap yet, we are at 7 billion marketcap roughly while services like uber are 50 billion, so do the fucking math. We aren't even started yet. We will reach 100 billion in the next 5 years and the price will be in the 5 figures.

BitMaxz

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BTC price road to $80k

Quote from: aleandromagno on April 29, 2016, 09:18:03 AM

Quote from: asrilani on April 29, 2016, 08:39:04 AM

Quote from: richjohn on April 27, 2016, 02:24:02 AM

Quote from: KennyR on April 27, 2016, 02:21:45 AM

Quote from: NeuroticFish on March 08, 2016, 05:36:15 PM

Some optimistic calculation tells that someday much more people will want to own BTC. Since the quantity of all bitcoin "in the world" ever is not great, the price should rise.

Too optimistic? Time will tell.

It the real fact for which bitcoin is expected to touch $3000 in the future, though the price seems to be high compared to most other countries currencies.

In reality it is really possible to touch $3000 in the future. Like what happenee in the past that it only costs cents and now it is the cryptocurrency with a highest price.

$3000 is the possible price to have. But it might be reached within the next two years. It is possible in 5 years.

Not necessarily last for so long .. Just that Bitcoin is accepted by Facebook or Google, and we have $ 3,000 in a week Wink

I think facebook and google dont need bitcoin.. and what do you mean that we have $3000 in a week?
as my speculation in 2 years the price of bitcoin will reach around 1k to 2k value maybe in 4 years we will see that the price reach 3000 value..

aleandromagno

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Quote from: asrilani on April 29, 2016, 08:39:04 AM

Quote from: richjohn on April 27, 2016, 02:24:02 AM

Quote from: KennyR on April 27, 2016, 02:21:45 AM

Quote from: NeuroticFish on March 08, 2016, 05:36:15 PM

Some optimistic calculation tells that someday much more people will want to own BTC. Since the quantity of all bitcoin "in the world" ever is not great, the price should rise.

Too optimistic? Time will tell.

It the real fact for which bitcoin is expected to touch $3000 in the future, though the price seems to be high compared to most other countries currencies.

In reality it is really possible to touch $3000 in the future. Like what happenee in the past that it only costs cents and now it is the cryptocurrency with a highest price.

$3000 is the possible price to have. But it might be reached within the next two years. It is possible in 5 years.

Not necessarily last for so long .. Just that Bitcoin is accepted by Facebook or Google, and we have $ 3,000 in a week Wink

asrilani

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Quote from: richjohn on April 27, 2016, 02:24:02 AM

Quote from: KennyR on April 27, 2016, 02:21:45 AM

Quote from: NeuroticFish on March 08, 2016, 05:36:15 PM

Some optimistic calculation tells that someday much more people will want to own BTC. Since the quantity of all bitcoin "in the world" ever is not great, the price should rise.

Too optimistic? Time will tell.

It the real fact for which bitcoin is expected to touch $3000 in the future, though the price seems to be high compared to most other countries currencies.

In reality it is really possible to touch $3000 in the future. Like what happenee in the past that it only costs cents and now it is the cryptocurrency with a highest price.

$3000 is the possible price to have. But it might be reached within the next two years. It is possible in 5 years.

richjohn

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Quote from: KennyR on April 27, 2016, 02:21:45 AM

Quote from: NeuroticFish on March 08, 2016, 05:36:15 PM

Some optimistic calculation tells that someday much more people will want to own BTC. Since the quantity of all bitcoin "in the world" ever is not great, the price should rise.

Too optimistic? Time will tell.

It the real fact for which bitcoin is expected to touch $3000 in the future, though the price seems to be high compared to most other countries currencies.

In reality it is really possible to touch $3000 in the future. Like what happenee in the past that it only costs cents and now it is the cryptocurrency with a highest price.

KennyR

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Quote from: NeuroticFish on March 08, 2016, 05:36:15 PM

Some optimistic calculation tells that someday much more people will want to own BTC. Since the quantity of all bitcoin "in the world" ever is not great, the price should rise.

Too optimistic? Time will tell.

It the real fact for which bitcoin is expected to touch $3000 in the future, though the price seems to be high compared to most other countries currencies.

hasiramasenju

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Quote from: sanadas on April 11, 2016, 06:45:30 AM

If the bitcoin replace the US dollar as the main reserve currency in the world, it will be worth $1m each.

for replace dollar i don't think that will really happen because dollar one of the strong currency in the world but might be to be a rival of dollar still possible someday but for replace it i think it impossible

BitHodler

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Quote from: sanadas on April 11, 2016, 06:45:30 AM

If the bitcoin replace the US dollar as the main reserve currency in the world, it will be worth $1m each.

This will only happen in people's wildest dreams.

In the real world Bitcoin will just be (already is) an alternative form of money where people find freedom in.

Topic: Explain WHY bitcoin will be worth 1-3000 USD (Read 3217 times)