I have to disagree with the following lines: "bitcoin will go to a million dollars, simply because u.s.a. keeps inflating its currency" and "i don't think bitcoin will necessarily buy more goods and services than it does right now"
BTCitcoins value could and would go way up but that doesn't mean it's due to inflation of $ but rather other factors that surround BTCitcoin directly. Also BTCitcoin could surely be used to buy more things than are being sold at the moment, like up until now, there were house and car sales that BTCitcoin was used directly and it will be matter of time, before we see other types of sales (big ones), use this method as well. There's no limit on what BTCitcoin can be used, but rather the matter of who accept it and when they do it.
Topic: thought on wht bitcoin will buy in the future (Read 501 times)
though i think eventually bitcoin will go to a million dollars, simply because u.s.a. keeps inflating its currency, i don't think bitcoin will necessarily buy more goods and services than it does right now. that is, it won't buy more eggs, but it will take 10000 dollars to buy a dozen eggs. I'm holding onto bitcoin as insurance against the malfeasance of the banks.
It can happen but the real question is when it is going to happen. Maybe the price will not be that high because of people holding on to their Bitcoins forever. and if demand increases it will continue to give effect to the price.
althiugh many users hold their bitcoin.
In the future i wanted bitcoin to be able to buy daily groceries and pay all my bill, like in the thread said that fiat will keep on inflating, so using bitcoin to stabilize the household economy will be good solution
Bitcoin can buy whatever you can think of as long as someone is accepting it as a form of payment in exchange for the good you desire.
If the US seriously devalues its currency and it does end up pushing Bitcoin to $1m per coin, then I have a feeling more retailers or producers will start accepting Bitcoin in exchange for their goods.
If the US seriously devalues its currency and it does end up pushing Bitcoin to $1m per coin, then I have a feeling more retailers or producers will start accepting Bitcoin in exchange for their goods.
though i think eventually bitcoin will go to a million dollars, simply because u.s.a. keeps inflating its currency, i don't think bitcoin will necessarily buy more goods and services than it does right now. that is, it won't buy more eggs, but it will take 10000 dollars to buy a dozen eggs. I'm holding onto bitcoin as insurance against the malfeasance of the banks.
It can happen but the real question is when it is going to happen. Maybe the price will not be that high because of people holding on to their Bitcoins forever. 
though i think eventually bitcoin will go to a million dollars, simply because u.s.a. keeps inflating its currency, i don't think bitcoin will necessarily buy more goods and services than it does right now. that is, it won't buy more eggs, but it will take 10000 dollars to buy a dozen eggs. I'm holding onto bitcoin as insurance against the malfeasance of the banks.
It can happen but the real question is when it is going to happen. Maybe the price will not be that high because of people holding on to their Bitcoins forever. 
Hi.
As of today:
Indirectly it can buy almost everything available in online stores.
Some middleman service is required to do so but it is possible.
The future:
To be honest no idea what future await bitcoin, I think nothing extraordinary
will happen. Some price fluctuations rather small in fact.
Like #avikz said BTC is and will be equivalent of gold. Rare, mysterious
thing that awakens desire, greed and admiration.
Maybe little more spread throughout the peoples minds and wallets
As of today:
Indirectly it can buy almost everything available in online stores.
Some middleman service is required to do so but it is possible.
The future:
To be honest no idea what future await bitcoin, I think nothing extraordinary
will happen. Some price fluctuations rather small in fact.
Like #avikz said BTC is and will be equivalent of gold. Rare, mysterious
thing that awakens desire, greed and admiration.
Maybe little more spread throughout the peoples minds and wallets
Bitcoin is not meant to buy eggs or daily groceries. Though there are people want this to happen because they want bitcoin to become a regular currency, but I see bitcoin as an alternate investment. If you are thinking that bitcoin will go up to a million dollar in future, then you can certainly buy a peaceful retired life with bitcoin and that's what exactly my goal is.
Bitcoin will never become a regular currency because of it's decentralized nature and no government will be able to control total bitcoin of the world alone hence it will bring in conflict of interest and that's not a good thing to happen.
Bitcoin will never become a regular currency because of it's decentralized nature and no government will be able to control total bitcoin of the world alone hence it will bring in conflict of interest and that's not a good thing to happen.
though i think eventually bitcoin will go to a million dollars, simply because u.s.a. keeps inflating its currency, i don't think bitcoin will necessarily buy more goods and services than it does right now. that is, it won't buy more eggs, but it will take 10000 dollars to buy a dozen eggs. I'm holding onto bitcoin as insurance against the malfeasance of the banks.
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