Topic: Explain WHY bitcoin will be worth 1-3000 USD - page 4. (Read 3228 times)

Because greed? Utility's a long ass way behind that for the foreseeable future.

There is no information that can back up such a claim. In the end it is all about what people are willing to pay for 1 single bitcoin.
Remember that bitcoin is an asset, and with all assets the price is based on speculation and potential.

So no there's no legit claim the price will be guaranteed at a certain value during a certain period of time.

because owning bitcoins gives you rights of ownership of the relative data stored on the Blockchain, which is the world's biggest, more widespread and popular p2p decentralized network, hence bitcoins have an intrinsic value.
because bitcoins have the pros without cons of gold, which makes them and ideal store of value.
because bitcoins have the pros without the cons of cash, which which makes them the ultimate payment method for in person trades.
because bitcoins have the pros without the cons of electronic payment systems, and are much more secure and fast than those, which makes them the ultimate payment method for online trades.
because bitcoins are non inflationary, which means that if demand and adoption grow, their value is bound to rise.
and many more reasons, these are the most notheworthy.

you would just need one of these reasons to justify such prices, but you have all of them.

more chances to be worth 10k than 1, also what are the argument against a 1$ value of bitcoin, based its fail for random reason, like it may die because of x bullshit thing?

instead there is a greater reason to have a higher price, which is adoption and miners manipulation, adoption will be forced by price manipulation in some way

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.




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'.

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.

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

Hi,

Can all of you bitcoin and market gurus please explain for a dumb kid like me WHY bitcoin will and can be worth 1000-3000 USD (some say $10000 to $1MIL which I find weird?!).
One reason I think I've understood is that once all the bitcoins are mined and bitcoins goes global... we can kinda set the price. Is this correct?

Please list every reason and explain it like it's for a 10 yr old. I often see "BITCOIN WILL REACH THE PRICE XXXX USD" but never a reason why.
My heart says I should hold on to all of my bitcoins but my paranoid brain says "No. Plenty of crashes before that."

Thanks in advance.