The road to $1000 would be much harder - page 3.

phlogistonq

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Activity: 159

Merit: 100

Quote

Given the small "market cap" reality, I think bitcoin can goes to 100 really without too much resistence, which is indeed the case. But from here on, it may become harder to go up to $1000, simply because now we need some "$10bn market cap" (acutally much less than that, but the trading volume in dollar terms have to go up about ten times of current size, or bigger than that).

If you are assuming that the $10bn has to be raised by the same people then you would be correct, But that is not what is happening. The price is rising because more people are joining. Only a small % of people have heard of bitcoins now and bought some. This number can -easily- multiply by a factor of ten. So, I think $10bn is no problem at all.

flaab

full member

Activity: 121

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At this growth rate..........We can get to 1000 by summer.

Jobe7

full member

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Merit: 100

Now they are thinking what to do with me

If 1 billion people put $10 on bitcoin, then there's your tenfold increase to 1,000.

Now consider that most people put more than $10 (or equivalent in their own currency). Let's say, $50, so now you only need 200 million people. Now this would be difficult for a single country, but remember, we're talking global here.

Now, consider that certain rich individuals are putting in quite a lot more than $10, or $50, more in the thousands and tens of thousands, or more.

That cuts down the 200 million drastically.

Lets be very random and assume that with the wealthy individuals and not so wealthy individuals, it's an average of $1,000 (and tbh, I think my average number there is way too low for the coming months, with whats coming).

We're down to 1 million people now.

Now .. consider businesses that are starting to adopt bitcoin, and how much they're investing into bitcoin to pay their staff and whatever else? That's anybody's guess..

I think people vastly underestimate the crucial point we are at.

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: Hyena on April 05, 2013, 05:17:24 PM

At first we will be surprised to see 200$. Next time we open our eyes it's past 1000$

my call for this coming week of breaking $200 is in tact

also my call of $440 by April 30th, 2013 will be touched.

From there is anyone's guess.

Hyena

legendary

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Merit: 1015

At first we will be surprised to see 200$. Next time we open our eyes it's past 1000$

phatsphere

hero member

Activity: 763

Merit: 500

i think, the exchanges are ready. there are only two problems: 1. micro-transactions are allowed, just "tax" them and they go away. the actual $$$ amount is not the problem, it's the sheer number of tx. 2. there are plenty of other exchanges besides gox.
finally, yes, bigger investors are the key. only if bitcoin is inflated enough, it will also start to be a good tool serving its actual purpose as a money transmitting utility - that phase only comes after enough inflation, otherwise bitcoin is doomed anyways.

Zangelbert Bingledack

legendary

Activity: 1036

Merit: 1000

More volatile, more prone to breaking things in the infrastructure, but not harder - if by harder you mean "slower." I think we could well be there by fall or even summer if the planets align correctly. But don't expect much in the Bitcoin world to escape disruption as that happens. This is radical change we are experiencing even now, and it will only accelerate.

Brushan

member

Activity: 224

Merit: 10

I agree that it will be harder but i think the bigger the marketcap, the bigger the investors which will make price rise exponentially. I'm also worried about exchanges not being able to handle the trafic. But with the news about eToro about to add BTC trading, do you think that it can be a solution?

flibbr

newbie

Activity: 25

Merit: 250

I agree. The road to $1000 will be alot tougher than the road to $100.

twolifeinexile

full member

Activity: 154

Merit: 100

Given the small "market cap" reality, I think bitcoin can goes to 100 really without too much resistence, which is indeed the case. But from here on, it may become harder to go up to $1000, simply because now we need some "$10bn market cap" (acutally much less than that, but the trading volume in dollar terms have to go up about ten times of current size, or bigger than that).

Current infrastracture apparently not ready for a volume up 10 times given all these exchanges/wallets events.

Current bitcoin blockchain size is also approaching its limits.

Also, if you look random talking in the this forum, a lot of guys have said they may at least partial exit at $1000, this is may due to the fact at that market to market value, the cash-out value would have a positive effect on their daily life, so even there is an upside, they are willing to get out an significant portion of their stach.

Yes, there will be more money pouring in, but these counter forces will make it not a easy (or "crazy") route.

Topic: The road to $1000 would be much harder - page 3. (Read 4818 times)