The Mythical $10,000 USD bitcoin | Bitcointalksearch.org

samurai1200

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Quote from: samson on April 10, 2013, 10:06:39 AM

Quote from: johnyj on April 10, 2013, 08:43:09 AM

Given current daily money supply of $2.8 billion from QE infinite and 3600 bitcoin, 10K is quite possible, but that will change when FED start to tighten

You seem to be ignoring the fact that outside the US nobody really gives a crap what the 'FED' thinks.

Wrong. Something like 70% of all Forex trade is done with the USD as the quote currency. Interp/Extrapolated, that means most people interested in currencies outside the US give a crap what the Fed thinks.

samson

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Quote from: johnyj on April 10, 2013, 08:43:09 AM

Given current daily money supply of $2.8 billion from QE infinite and 3600 bitcoin, 10K is quite possible, but that will change when FED start to tighten

You seem to be ignoring the fact that outside the US nobody really gives a crap what the 'FED' thinks.

Minor Miner

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Quote from: BTCINVESTOR on April 10, 2013, 12:44:11 AM

Quote from: Minor Miner on April 10, 2013, 12:38:45 AM

where do you get world GDP as 340T? The USA is still the largest economy and its GDP is only around 20t right?

I am in contact with Morisson Bonpasse, who authored "The Single Global Currency" who has provided me with that estimate. He runs the Single Global currency association (www.singleglobalcurrency.org)

It is off by an order of magnitude. How does he explain that. The US is 14T and the whole G8 is only 34T and then it drops off the face of the earth from there.

johnyj

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Given current daily money supply of $2.8 billion from QE infinite and 3600 bitcoin, 10K is quite possible, but that will change when FED start to tighten

CasinoBit

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Quote from: b!z on April 10, 2013, 08:13:24 AM

Quote from: CasinoBit on April 10, 2013, 06:59:45 AM

Problem is that the price of bitcoin rises and many people that have absolutely no idea about bitcoin or computers in general are making "investments" to try and profit off the phenomena.

It's good for them and it's good for all of us too.

People like stability when it comes to currency, it is good for bitcoin as an investment and as a virtual commodity but not as a currency which most of the forum supports according to my understanding.

John Self

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Quote from: BTCINVESTOR on April 10, 2013, 12:44:11 AM

Quote from: Minor Miner on April 10, 2013, 12:38:45 AM

where do you get world GDP as 340T? The USA is still the largest economy and its GDP is only around 20t right?

I am in contact with Morisson Bonpasse, who authored "The Single Global Currency" who has provided me with that estimate. He runs the Single Global currency association (www.singleglobalcurrency.org)

That figure of 340T isn't even close to being correct.

http://en.wikipedia.org/wiki/World_economy

If your present-day figures are total shit, why should anyone believe your extrapolations about future figures?

b!z

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Quote from: CasinoBit on April 10, 2013, 06:59:45 AM

Problem is that the price of bitcoin rises and many people that have absolutely no idea about bitcoin or computers in general are making "investments" to try and profit off the phenomena.

It's good for them and it's good for all of us too.

CasinoBit

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Problem is that the price of bitcoin rises and many people that have absolutely no idea about bitcoin or computers in general are making "investments" to try and profit off the phenomena.

Wekkel

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yes

Quote from: proudhon on April 10, 2013, 06:11:04 AM

Quote from: Wekkel on April 10, 2013, 12:55:07 AM

If BTC reaches $10,000 at the current stage of the BTC economy, THAT would be a bubble.....

That would be the end of bitcoin.

we have official confirmation, gentlemen Cheesy

wopwop

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bitcoin's idea is worth way more than 10.000$ per bitcoin

imo 1.000.000$ per bitcoin seems fair to the people of earth

proudhon

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Quote from: Wekkel on April 10, 2013, 12:55:07 AM

If BTC reaches $10,000 at the current stage of the BTC economy, THAT would be a bubble.....

That would be the end of bitcoin.

Roger_Murdock

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Quote from: mccorvic on April 10, 2013, 12:43:12 AM

Quote from: BTCINVESTOR on April 10, 2013, 12:38:03 AM

Every single spare dollar I have. 100% all in.

I believe in bitcoin more than most and have been here for a looong time. I believe that BTC is worth 100x what it is valued at now.

So, please, don't invest more than you can afford to lose. Every dollar you put in BTC pretend that it could just vanish tomorrow.

True, but you should also take that approach to every dollar you don't put in BTC.

kiko

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Quote from: Ekaros on April 10, 2013, 05:53:03 AM

How large part of bitcoin economy is fully done by bitcoin not, fiat->bitcoin->fiat?

In theory it shouldn't really matter. The more people there are doing fiat->bitcoin->fiat purchases, the more people will be holding a transient bitcoin float. These people are accidental hoarders. Just like the countries that buy USD just because they want to buy crude oil, it still helps the dollar.

Ekaros

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Quote from: pretendo on April 10, 2013, 01:00:17 AM

Quote from: Wekkel on April 10, 2013, 12:55:07 AM

If BTC reaches $10,000 at the current stage of the BTC economy, THAT would be a bubble.....

That isn't even necessarily true; if the bitcoin saturation of the world economy was maturing with mainstream bitcoin institutions and financial services, credit, widespread acceptance by merchants... let's say 2% of the world used it in 5 or 10 years. That would absolutely justify a price of 10,000 USD today.

In 5 to 10 years, not now...

In my opinion we aren't nearly there...

How large part of bitcoin economy is fully done by bitcoin not, fiat->bitcoin->fiat?

kiko

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I agree with the OP in the main. Let's look at the numbers.

blockchain.info wallet users are groing at 1.5% per day. that's 56% per month. I'm pretty sure that outpaces the ramp up that facebook saw.

I think it will continue to grow, but the current pace is going to be hard to maintain due to the barriers to entry. When the Mt.Gox queue gets north of 20,000; people will just get discouraged from the whole process.

We could see exponential growth morph into a linear ~3000 new users a day growth.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: Zaih on April 10, 2013, 05:11:35 AM

Let's not get too ahead of ourselves ^_^

Oh heck, why not. Lets do.

Zaih

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Let's not get too ahead of ourselves ^_^

pretendo

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Quote from: Wekkel on April 10, 2013, 12:55:07 AM

If BTC reaches $10,000 at the current stage of the BTC economy, THAT would be a bubble.....

That isn't even necessarily true; if the bitcoin saturation of the world economy was maturing with mainstream bitcoin institutions and financial services, credit, widespread acceptance by merchants... let's say 2% of the world used it in 5 or 10 years. That would absolutely justify a price of 10,000 USD today.

Wekkel

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yes

If BTC reaches $10,000 at the current stage of the BTC economy, THAT would be a bubble.....

pretendo

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Quote from: BTCINVESTOR on April 10, 2013, 12:47:55 AM

And I certainly don't believe this is a permanent spiral. It just hasn't even gotten close to maturity. That's all I'm saying.

you mentioned "deflation"

Topic: The Mythical $10,000 USD bitcoin (Read 13722 times)