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Topic: The price of Bitcoin, if it succeeds (Read 1542 times)

full member
Activity: 420
Merit: 117
January 18, 2015, 01:27:39 PM
#26
IMO, I don't think the price of BTC will ever be correlated to its stability unless there are regulations in place. It doesn't matter if there are 10 coins available or 21M; as more fiat money is dumped in (assumption), the price will rise (perhaps), but this does not equate to long-term stability.
hero member
Activity: 714
Merit: 500
January 18, 2015, 10:38:13 AM
#25
it should be very high

simple math tell me that with only 21M it should be 10K-100k at the very least
Could you walk me though that math?
legendary
Activity: 3248
Merit: 1070
January 18, 2015, 10:34:25 AM
#24
it should be very high

simple math tell me that with only 21M it should be 10K-100k at the very least
sr. member
Activity: 1512
Merit: 326
January 18, 2015, 06:32:33 AM
#23
yea bitcoin price going crazy at middle of this all
let see what the best price in 2015
sr. member
Activity: 252
Merit: 250
January 18, 2015, 05:18:01 AM
#22
lets assume all the btc will rise the price betewwn may and october 2015 soo like 300 to 500 dollars but thats just my assumption the btc its slowly degrading the last few months
legendary
Activity: 2296
Merit: 1031
January 17, 2015, 11:20:20 PM
#21
There is a lot of talk about at what price BTC is supposed to be. This statements are mostly based on the past price of BTC.
E.g. "It can't be 1000 USD/BTC today since it was just 130 USD/BTC 2 years ago"
I think, that is a pretty bad way to look at it.
The best way, I can think of, is what has the price to be, when a certain amount of people use it. Imagine in 10 years 100 Million people worldwide are using Bitcoin in some way(I don't want to discuss, if that is a good estimate, since the title of the topic is "if it succeeds"). Looking at the current market cap of ~$ 3 billion, that is just not enough. That means that everybody can just use an equivalent of average 30 USD.
Any other suggestions on how to determine a good price?

It all depends on the demand and interest in btc.  But it's also important to look at the obvious stumbling blocks such as security and the more and more prevalent understanding that btc is not as anonymous as many believed.  But the security aspect is definitely the price crippling agent in my opinion.  There's just too much general uncertainty and even if we all agree on what the price should be, rather or not it succeeds, it really doesn't matter until btc is further established and businesses that act as "exchanges" do their part to actually ensure security.

Actually, btc has already succeeded and look at where we are.  Huge volatility and no agreement in price stabilization.
full member
Activity: 224
Merit: 100
January 17, 2015, 09:02:41 PM
#20
There will never be a mass adoption as long as whales and early adopters hold 99%+ of all bitcoins. Spread the wealth, perform random of acts of kindness and give away some of your coins to noobs. Like me!!!!
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
January 17, 2015, 04:04:46 PM
#19
yes, if you want to support BTC , do something. first thing is, use it. speak about it. donate it.
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
January 17, 2015, 03:46:39 PM
#18
I think more people spend time concerning themselves with the price that figuring out how to spend it on a day to day basis in their own lives.
sr. member
Activity: 806
Merit: 250
CryptoTalk.Org - Get Paid for every Post!
January 17, 2015, 03:21:26 PM
#17
Fans say it will get to $50k
Others say zero

The current price reflects the fan/other ratio.







full member
Activity: 238
Merit: 100
www.secondstrade.com - 190% return Binary option
January 17, 2015, 03:15:58 PM
#16
There is a lot of talk about at what price BTC is supposed to be. This statements are mostly based on the past price of BTC.
E.g. "It can't be 1000 USD/BTC today since it was just 130 USD/BTC 2 years ago"
I think, that is a pretty bad way to look at it.
The best way, I can think of, is what has the price to be, when a certain amount of people use it. Imagine in 10 years 100 Million people worldwide are using Bitcoin in some way(I don't want to discuss, if that is a good estimate, since the title of the topic is "if it succeeds"). Looking at the current market cap of ~$ 3 billion, that is just not enough. That means that everybody can just use an equivalent of average 30 USD.
Any other suggestions on how to determine a good price?

You see .. that's the issue mate , everyone look at the price and they  want to get rich between night & another just like that .
which is wrong ... a good price isn't what makes us rich but it's stable price . Let's say ~300$ for three months . that's stable then it's good . even if it was 1$ .
Most of people don't give a shit about Bitcoin being annonymus or fast or without fees they just want to become rich. *facepalm*
that's my opinion Grin

Good and a stable price of 1million USD/btc
I don' think there will be any growth that big anytime ever.
1000 USD would be great for it to reach again.
sr. member
Activity: 434
Merit: 250
Loose lips sink sigs!
January 17, 2015, 03:11:36 PM
#15
Volatility is what will keep full major retailer adoption.They can't risk losing their revenue due to foreign currency exchange volatility (i.e., USD/EUR/GBP/YEN to BTC conversion swings.)
legendary
Activity: 2226
Merit: 1052
January 17, 2015, 02:30:37 PM
#14
There is a lot of talk about at what price BTC is supposed to be. This statements are mostly based on the past price of BTC.
E.g. "It can't be 1000 USD/BTC today since it was just 130 USD/BTC 2 years ago"
I think, that is a pretty bad way to look at it.
The best way, I can think of, is what has the price to be, when a certain amount of people use it. Imagine in 10 years 100 Million people worldwide are using Bitcoin in some way(I don't want to discuss, if that is a good estimate, since the title of the topic is "if it succeeds"). Looking at the current market cap of ~$ 3 billion, that is just not enough. That means that everybody can just use an equivalent of average 30 USD.
Any other suggestions on how to determine a good price?

I dont think it can be discussed any logical way for now apart from saying that it would be determined by demand supply. At the moment supply is very high as BFL is selling under court order to refund customers. So, unless supply decreases, price wont shoot up as demand is growing in steady pace with new companies coming in.
legendary
Activity: 1596
Merit: 1061
Smile
January 17, 2015, 02:27:22 PM
#13
I remember reading an article on Winklevosses where they predicted potential price of bitcoin if let's say bitcoin succeeded as a payment system capturing all the current credit card market share. It was a huge figure which I can't recall.

about $40,000 I think

this is the most common prediction of a stable price I have seen when bitcoin is used mainstream
hero member
Activity: 714
Merit: 500
January 17, 2015, 01:04:25 PM
#12
Take a look at Bitcoin Price Speculator Model page, and play with the numbers Smiley
http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html
That is a great site.
Playing around there is really fun and it gives a more sophisticated estimate.
hero member
Activity: 714
Merit: 503
January 17, 2015, 12:01:55 PM
#11
I think that the first thing we need is the end of the manipulation in markets

after what we can talk about high prices in bitcoin I could even see it at 10k $
hero member
Activity: 518
Merit: 500
Hodl!
January 17, 2015, 11:25:47 AM
#10
I have a notion that the velocity of bitcoin will actually drop over time. At some point it becomes useful enough to the general populace and business, that exchange transactions stop happening, and they will maintain a balance or float in bitcoin. Some of us do this now, and seek out places to spend bitcoin when we receive it. This involves "effort". As the amount of "effort" this takes shrinks to zero, many more people will do it.

Unless in future, exchanges, wallet sites, or other proxies for bitcoin banks are running fractional reserve, if a bitcoin is received at the moment, in ecommerce or remittance, it's highly likely to be available for use again quickly, as it is exchanged for dollars. When there's a critical mass of places to spend or use bitcoin, then it becomes pointless to change to dollars and back again, so people will retain that amount of bitcoin to spend at a future time. So instead of that amount being available for re-use several times a day, it will sit in someone's wallet for a day, two days, week, until they have occasion to spend it. This would tend to bring bitcoins velocity down into the same range as a dollars one would think.
member
Activity: 105
Merit: 10
January 17, 2015, 11:16:08 AM
#9
Yes it depends on how much user of bitcoin is
hero member
Activity: 630
Merit: 500
January 17, 2015, 11:04:17 AM
#8
Take a look at Bitcoin Price Speculator Model page, and play with the numbers Smiley
http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html
legendary
Activity: 3976
Merit: 1421
Life, Love and Laughter...
January 17, 2015, 10:56:29 AM
#7
There is a lot of talk about at what price BTC is supposed to be. This statements are mostly based on the past price of BTC.
E.g. "It can't be 1000 USD/BTC today since it was just 130 USD/BTC 2 years ago"
I think, that is a pretty bad way to look at it.
The best way, I can think of, is what has the price to be, when a certain amount of people use it. Imagine in 10 years 100 Million people worldwide are using Bitcoin in some way(I don't want to discuss, if that is a good estimate, since the title of the topic is "if it succeeds"). Looking at the current market cap of ~$ 3 billion, that is just not enough. That means that everybody can just use an equivalent of average 30 USD.
Any other suggestions on how to determine a good price?

You see .. that's the issue mate , everyone look at the price and they  want to get rich between night & another just like that .
which is wrong ... a good price isn't what makes us rich but it's stable price . Let's say ~300$ for three months . that's stable then it's good . even if it was 1$ .
Most of people don't give a shit about Bitcoin being annonymus or fast or without fees they just want to become rich. *facepalm*
that's my opinion Grin

Good and a stable price of 1million USD/btc

now that would be pretty awesome.
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