Topic: Price of bitcoin in 5 years? plus explanation not a gambling thread. - page 3. (Read 4248 times)

What scalability issues?

I think the price is going to be around $400. It may have topped at several k$ in the meantime, but I don't see how the scalability issues could be handled in time for BTC to continue on its current exponential trajectory.

(I believe the current rally is an outlier and we are going to see much lower prices before seeing much higher prices, as well.)

I'll throw my hat into the ring here. I think that the price of bitcoin will be $55,000 in 5 years. This is based on a $1 trillion total market cap for 18 million coins mined at the time.

$1 trillion is really just a nice round number, but it is more the order of magnitude that is important for the sake of discussion here. In five years, bitcoin is going to be an international payment system that is widely accepted everywhere in the world. It will be the number two currency in every market, second to the local fiat. Merchants will prefer to accept bitcoin because of the low fees, 0 fraud risk, potential for keeping some of the money off the books, and of course the international utility; as a result, they will incentivize customers to pay with Bitcoin by offering a discount when paying in Bitcoin, maybe upwards of 5%.

The seeds are still being planted, but the reality is that we have at least four well capitalized payment processors internationally who will be busting ass to get merchants accepting bitcoin: Bitpay, Coinbase, BIPS and now Circle (launched today in the NY Times article). This time next year there will be a number of large companies that accept bitcoin as payment, including a large gaming company like Valve or Blizzard, and there will be neighborhoods throughout the world that will have 20+ brick and mortar businesses within a 5 block radius of each other that all accept and prefer bitcoin. Berlin already features one such neighborhood, and New York City is next; the New York City neighborhood will be highly successful because of all of the Satoshi Square momentum, and on the heels of NYC, SF, Austin and Boston will quickly follow.

its stupid to try to give an exact number. One person I respect said it should 3 times itself a year for the next 10 years i.e 3^5=243 times increase 243X200=48,600 in 5 years. other estimates I heave heard is between 1-10 percent of gold which could be anywhere between 4,115-41,150. based on 6.9 trillion of gold and 16,756,000 bitcoins. Anyone else have any good ideas?

I like to think that bitcoin is already worth at least 4 digits but its undervalued due to negative sentiment...