Topic: What does it take for Bitcoin to go 100X? - page 2. (Read 9449 times)

Russia could support Bitcoin, but not now, since their ruble is plummeting.

So even if they would support it otherwise, now they wont because its a direct threat to their currency.

USA would not support it normally, but now they do since they are overconfident in their dollars.

Its an upside world

I'm not holding my breath for any country to do any sort of official or quasi-official embrace, but geo-politically speaking...

If Russia made a credible statement of support for Bitcoin and support of those who wish to host critical infrastructure I personally would have significantly more confidence that the solution is sound against certain kinds of attacks.  If other's felt this way I could see it having a significant impact on the value, but it probably would not be a 100x event in and of itself.

Russia and China both are powerful enough to be autonomous.  The West probably has the means of putting sufficient pressure on China to have them crack down on Bitconi infrastructure support if it were of critical importance, and of course they have a lot of hashing power.  The same could probably not be said of Russia since we've already used most of our financial ammo in the recent sanctions bullshit and they have their own energy needs covered.  The Russians also might be interested in a little payback for these insults if the opportunity arose.  What the West could probably not do would be to keep the Chinese hashing gear from being put into box-cars and pop up in Russia a few days later.

I've long argued that Bitcoin is a threat to pretty much any country and that there is a strong possibility that it could be attacked by all more-or-less simultaneously and in a coordinated manner.  It occurs to me, however, that a country like Russia or China could clamp down on use of distributed crypto-currencies by their populace yet allow infrastructure support anyway if it were of strategic significance.  Or at the very least turn a blind eye to operators who keep the system hobbling along, and especially if there were enough kickbacks going on.  China actually seems to do this already to some extent.

Get a country like the Netherlands to buy up a large share of bit coins quietly, and then publicly announce they are cold storing 1 million bitcoin. ...

Boom 100x increase

So you say that because price is inflating we buy things we dont need, well thats an understatement.

But for sure people are very motivated to spend if the money evaporates in their hands.

Bitcoin wont be a big economy because people rarely spend here!

Its natural to have what most others cant have.

Its why a normal watch can sell for $300-5,000 right? Its basically lifestyle thing.. and being that person to say Im better then you in a short statement. Also its a cycle, since most cant get it opposite sex are more lingered to what they cant have as well.

or just some traditional format to be passed, and bam we got new users.

and this can be the twins etf thing, since they got their exchange done.

Well yes but the main appeal of it is mainly the big price.

I saw a big correlation with big price and alot of activity on this forum + the news reporting on bitcoin.

So in order for people to become very interested in bitcoin, it must reach 500$ again...

Portability and concealability are also important factors for people ready to scarper from appallingly-run economies. It may become the nuclear option for many before it becomes a more generally accepted store of value.

the reason for people to put their money into bitcoin is to avoid governments and other institutions to have control over your money. that's reason enough. but it would need a stable price to attract people to use bitcoin as a store of value.

Well said. The nonexistence of good money is why people buy houses they don't really need.

Some or many people willing to put several billions into bitcoin reserves.

But what would make people put billions into BTC

When people see pegged sidechains in practice and realize that owning BTC is a universal bet on the success of any one or collection of them, there very well may be a massive rush to get some money down on the table.  That could launch BTC to levels otherwise impossible absent big problems in USD-land.

The combination of these two factors could create a new cohort of the ultra-wealthy currenly consisting of corporate CEO's and hedge-fund managers.

It will be a great store of value but not yet, right now still is seen as a speculative asset by most, because it's still being developed, we aren't even past 0.1 yet..

in the future once the price goes back to 1k+ and starts a steady uptrend, but a solid one without many periods of ups and downs in between, people will start putting their wealth on it (When I say people, i mean the average relatively wealthy guy that is clueless about BTC)

People have to treat bitcoin as a store of value. So they don't have to buy overpriced houses/art to diversify their wealth away from bonds and wallstreet.

My suggestion is for people to either use bitcoin and/or invest in it as a long term strategy rather than attempt to outsmart the marketplace/bots to hedge against risks with some form of day trading .

Not yet, 90% of the population has no clue.

9% are skeptics or idiots.

1% are bitcoin users but are bickering between themselves.


You cant have this , first you need to straight out our community, then set up advertising campaigns to promote bitcoin.

We need alteast 10% of the population for this to happen!

You got it right. alts are easier to manipulate but btc is different lots of factor are involved (but i would love to see end 2013 year again, i mean we all would). that way stable lets says stable alts are on some low price now other come and gone.

why not? bitcoin did increased x10 with the last ath and x25 in 2011, why such a thing could no be repeated? x100 may sounds a bit too far-stretched, but if the demand will be there it is possible to surpass even that kind of increase

altcoin are different thing, they are so worthless that some of them did go to 10k-30k%(i remember one in 2013 that has reached a crazy percentage in the 10-50k range, was beyond reality...)

"Too large"   This is assuming the dollar holds all its current value and this is highly unlikely to last forever.    Right now USA dollars are used as global money, not quite explicitly but its well known that oil wherever its produced is then sold in dollars.
This does not have to continue and if you believe in natural progression, its certain to change so can bitcoin go up by some exponential amount I believe so.   however it will have to compete vs other mediums and long term we cant know which

It doesnt take alot but this is assuming btc could replaced into all those markets and accepted by both parties

LOOOL! Bitcoin 100x???!!!

Mate i made a ton of money on certain alts. I had like 4 coins last month that were going 15x and more. Bitcoin 100x??? Why? How? Too high marketcap. Too large amount of money needed to go even 2x!!
It must really suck to hold the Gavincoin/Bitcoin right now.