Ah, the cool $50k per Bitcoin. Let's see what this means.
If miners decide to sell all their mined Bitcoins, (or 50%), this is how much daily fresh money is needed on the exchanges for the price to be stable:
2014-2016 : $180 million ($90 million if 50% sold)
2017-2020: $90 million ($45 mil)
2021-2024: $45 million ($22 mil)
etc.
So, if you are prepared to wait until 2020, good luck in finding that daily $45 million. (16$ billion in a year).
And before somebody says that miners don't need to sell 50% of their generated Bitcoins: they do need to pay their electricity bills in other currencies, and in a steady state, I estimate that the average cost of each BTC for electricity will be 50% of their market value.
Topic: I will not Die Untill Bitcoin will reach at Least 50K - page 49. (Read 49961 times)
I am sure they can never be $50k per 1 bitcoin. It is unbelievable.
Famous last words?
My spreadsheet tells me that $50k / coin will be hit by the exponential trendline at 8.th of Juli 2016. But it might happen much sooner in a bubble (maybe December 2015)
(And if there is a new trendline starting late October 2013 - we will hit $50k coins in march or april 2014 [not very likely!])
This is possible, 2013 was good year for Bitcoin and 2014 is going to be Better so Bitcoin demands are getting higher and supply are lower so b positive guys. We are sky rocketing.
Or maybe you being sarcastic ;-)
Not so unbelievable, it only requires 50X more demand...
Or 50X less supply!There better be 500,000,000,000 more demand if we switch to mBTC because guess what kids, Bitcoin is almost infinitely divisible.
Once you have an "infinite" amount of pieces of Bitcoin that the consumer public can acquire for buying and selling, the value goes wayyyyyyyyyyyyyyyyyyy down.
Endless supply.
Disclaimer: I pray I'm wrong.
You could cut gold down to atoms, doesn't mean you have an endless supply of gold does it.
Not so unbelievable, it only requires 50X more demand...
Or 50X less supply!There better be 500,000,000,000 more demand if we switch to mBTC because guess what kids, Bitcoin is almost infinitely divisible.
Once you have an "infinite" amount of pieces of Bitcoin that the consumer public can acquire for buying and selling, the value goes wayyyyyyyyyyyyyyyyyyy down.
Endless supply.
Disclaimer: I pray I'm wrong.
I am sure they can never be $50k per 1 bitcoin. It is unbelievable.
Not so unbelievable, it only requires 50X more demand...
That is the point. But these discussions on how fast the BTC price surges are getting boring ...
maybe not "have" to buy in fractions but i think if the price ever goes up to $10k -100k per coin then the average user wiill not be buying full btcs due to the price
a mbits system would be more appealing for new adopters too than a tiny fraction of a whole coin imo
its just psychological
a mbits system would be more appealing for new adopters too than a tiny fraction of a whole coin imo
its just psychological
We are already there, posts on this site frequently mention getting in as an investor at less than a full BTC. I do think that moving trading platforms to quote in fractions of BTC is a smart marketing move, but not necessary.
I think BTC can easily pass the market cap of large cap stocks in 2014 (500 billion). This is the bubble investment opportunity of the last 1000 years. I seriously cringe that i didn't jump in two years ago when i read about it, but that is what it is.
My main concerns are alt coins, rich developers getting lazy and not progressing the protocol, government intervention.
its only a matter of time before coins will have to be sold in fractions as well because buying
a whole coin when the price reaches $10,000 will be too expenisve for the average user
a whole coin when the price reaches $10,000 will be too expenisve for the average user
Why would you HAVE to buy a whole BTC? That isn't a limit or restriction.
You can always buy a $1 worth of bitcoin for a $1, even when BTC reaches $100,000,000.00 per BTC, that would be 0.00000001 BTC. (I believe I did that math right... $1.00/USD * 0.00000001BTC/USD = $100,000,000.00/BTC)
By that time, a dollar will only be worth a penny, and the "Dollar Menu" at McDonalds will be the "Hundred-Dollar Menu". That, or the "0.00000100BTC Menu"...
If you want to feel more rich, you buy LTC or one of the hundred other alt-coins instead. That, or keep using FIAT. But 1 BTC will fit in your pocket easier.
maybe not "have" to buy in fractions but i think if the price ever goes up to $10k -100k per coin then the average user wiill not be buying full btcs due to the price
a mbits system would be more appealing for new adopters too than a tiny fraction of a whole coin imo
its just psychological
I am sure they can never be $50k per 1 bitcoin. It is unbelievable.
Famous last words?
My spreadsheet tells me that $50k / coin will be hit by the exponential trendline at 8.th of Juli 2016. But it might happen much sooner in a bubble (maybe December 2015)
(And if there is a new trendline starting late October 2013 - we will hit $50k coins in march or april 2014 [not very likely!])
its only a matter of time before coins will have to be sold in fractions as well because buying
a whole coin when the price reaches $10,000 will be too expenisve for the average user
a whole coin when the price reaches $10,000 will be too expenisve for the average user
Why would you HAVE to buy a whole BTC? That isn't a limit or restriction.
You can always buy a $1 worth of bitcoin for a $1, even when BTC reaches $100,000,000.00 per BTC, that would be 0.00000001 BTC. (I believe I did that math right... $1.00/USD * 0.00000001BTC/USD = $100,000,000.00/BTC)
By that time, a dollar will only be worth a penny, and the "Dollar Menu" at McDonalds will be the "Hundred-Dollar Menu". That, or the "0.00000100BTC Menu"...
If you want to feel more rich, you buy LTC or one of the hundred other alt-coins instead. That, or keep using FIAT. But 1 BTC will fit in your pocket easier.
I accept you, When all bitcoins will be mined that day 1 Satoshi will cost minimum 1$.
its only a matter of time before coins will have to be sold in fractions as well because buying
a whole coin when the price reaches $10,000 will be too expenisve for the average user
a whole coin when the price reaches $10,000 will be too expenisve for the average user
Why would you HAVE to buy a whole BTC? That isn't a limit or restriction.
You can always buy a $1 worth of bitcoin for a $1, even when BTC reaches $100,000,000.00 per BTC, that would be 0.00000001 BTC. (I believe I did that math right... $1.00/USD * 0.00000001BTC/USD = $100,000,000.00/BTC)
By that time, a dollar will only be worth a penny, and the "Dollar Menu" at McDonalds will be the "Hundred-Dollar Menu". That, or the "0.00000100BTC Menu"...
If you want to feel more rich, you buy LTC or one of the hundred other alt-coins instead. That, or keep using FIAT. But 1 BTC will fit in your pocket easier.
Regulations are as good against bitcoin as sandbags against tsunami.
This needs to be a historic quote for bitcoins, somewhere in a WiKi... Love it.
it needs to change to mbits of something smaller because its a bit of a mess
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs $2.50 in fiat
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs $2.50 in fiat
What fraction of an ounce of gold does the coffee cost? Bitcoin isn't really for day to day transactions. It's a store of value and hopefully a means of global trade. Using mBTC and uBTC with off chain transactions might allow consumer use and even micro payments but those aren't where the really big valuations will come from.
i think btc has the flexibility to be used for big and small payments ,unlike a gold bar btc is easily divisible ,
as soon as more merchants start accepting it scanning a qr code from your mobile wallet to pay 0.0035125BTC will
be as simple as using regular cash to buy a coffee
of course its a great store of value as well and "be your own bank" is cool but i like paying for things in btc whenever i get the chance to spend some ,more spending and less hoarding will help distribute the btc network more widely too so its a win /win situation as soon as more merchants get on board ,hopefully someone massive like amazon etc
it needs to change to mbits of something smaller because its a bit of a mess
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs $2.50 in fiat
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs $2.50 in fiat
What fraction of an ounce of gold does the coffee cost? Bitcoin isn't really for day to day transactions. It's a store of value and hopefully a means of global trade. Using mBTC and uBTC with off chain transactions might allow consumer use and even micro payments but those aren't where the really big valuations will come from.
I am on your side my friend all the way to 50k. We went up so much this year and if you look at the current infrastructure is quite poor, imagine if we have proper services, non shady exchanges and mass adoption.
I think BTC can still be used to trade and for large sums, mBTC for every day use, they can coexist
I think BTC can still be used to trade and for large sums, mBTC for every day use, they can coexist
I am sure they can never be $50k per 1 bitcoin. It is unbelievable.
50X increase from 1000USD?
Not so unbelievable, it only requires 50X more demand...
Absolutly, We traveled from 3 Cents to 1300$ since late 2008 (Since Satoshi's first Block) its just 5 years and today we are in 1K which is 1000 s times so nothing is hard in bitcoin world,
recent happy news is Btc China got good deposit option
At the beginning of 2013 people didn't think it would hit $100 let alone $1000. Shoot, dollar parity was even a big deal.
:-)
+1
I am sure they can never be $50k per 1 bitcoin. It is unbelievable.
50X increase from 1000USD?
Not so unbelievable, it only requires 50X more demand...
Absolutly, We traveled from 3 Cents to 1300$ since late 2008 (Since Satoshi's first Block) its just 5 years and today we are in 1K which is 1000 s times so nothing is hard in bitcoin world,
recent happy news is Btc China got good deposit option
At the beginning of 2013 people didn't think it would hit $100 let alone $1000. Shoot, dollar parity was even a big deal.
:-)
it needs to change to mbits of something smaller because its a bit of a mess
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs $2.50 in fiat
a whole bitcoin will soon be out of reach for many people and the decimal point placement
is a bit tricky if we dont start using mbits or ubits etc
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs $2.50 in fiat
a whole bitcoin will soon be out of reach for many people and the decimal point placement
is a bit tricky if we dont start using mbits or ubits etc
The problem of decimals is fixed pretty well via punctuation that for some reason isn't standard (IE: 0.013,275,0 BTC is easier to make sense of than 0.0132750 BTC at a glance). On the other hand, I feel that we should switch to mBTC simply because many people don't initially understand the concept of divisibility. While it can be argued any new user should understand how the currency works, nobody in the general public really gives that much of a hoot and you know it
a $5 sandwich costs 0.00703125 BTC at current gox rates
(not including the tx fee )its going to get worse as coins get more valuable and we have to go further back
past the decimal point to pay for small items
its only a matter of time before coins will have to be sold in fractions as well because buying
a whole coin when the price reaches $10,000 will be too expenisve for the average user
I am sure they can never be $50k per 1 bitcoin. It is unbelievable.
50X increase from 1000USD?
Not so unbelievable, it only requires 50X more demand...
Absolutly, We traveled from 3 Cents to 1300$ since late 2008 (Since Satoshi's first Block) its just 5 years and today we are in 1K which is 1000 s times so nothing is hard in bitcoin world,
recent happy news is Btc China got good deposit option
it needs to change to mbits of something smaller because its a bit of a mess
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs $2.50 in fiat
a whole bitcoin will soon be out of reach for many people and the decimal point placement
is a bit tricky if we dont start using mbits or ubits etc
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs $2.50 in fiat
a whole bitcoin will soon be out of reach for many people and the decimal point placement
is a bit tricky if we dont start using mbits or ubits etc
The problem of decimals is fixed pretty well via punctuation that for some reason isn't standard (IE: 0.013,275,0 BTC is easier to make sense of than 0.0132750 BTC at a glance). On the other hand, I feel that we should switch to mBTC simply because many people don't initially understand the concept of divisibility. While it can be argued any new user should understand how the currency works, nobody in the general public really gives that much of a hoot and you know it
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