Even if a bitcoin was worth 0,01 euro, I would still use bitcoins.
It makes things so easy (send bitcoins to whoever you want, with
low transaction fees) and difficult (to be hack and controlled)
It used to be $ 1, $ 31 now it's $ 13 does it matter?
As long as we can send and receive bitcoins that's worth more
then whatever pricetag you throw @ it.
Topic: What will BTC be worth in 12 months - page 3. (Read 4039 times)
Compare with Paypal
Total ammount of transactions in 2009 - 71 billion USD
Bitcoins in circulation 10 500 000
71 000 000 000 / 10 500 000 = 6761 usd/btc
This is just to have some approx. imagination
Total ammount of transactions in 2009 - 71 billion USD
Bitcoins in circulation 10 500 000
71 000 000 000 / 10 500 000 = 6761 usd/btc
This is just to have some approx. imagination
Well they might not be worth anything if the world goes to hell... Dec 21 2012... Hehe. 
$TEXAS
I save my BTC but not because I want to profit from them, that's secondary...
I imagine a future where having one full BTC would be almost impossible!!!
my thought chain (feel free to correct me if I'm wrong, with proof, as I'm sure some ass wipe will)
1 BTC = 13,5
10,500,000 * 13.5 = U$S 141,750,000
there are between 850 and 1 trillion dollars in circulation today. (Source: http://www.doughroller.net/personal-finance/how-much-money-is-in-circulation-today/ and others)
So... let's say BTC can grow exponentially in the next 10 years... not very unlikely with the introduction of new technologies such as NFC, and smartphone becoming a way to pay for goods.
We will have about 18,000,000 BTC by 2020 if I'm not mistaken (source: http://en.wikipedia.org/wiki/File:Total_bitcoins_over_time.png)
My contention is that there will be about 72,576,000,000 roughly 72 billion BTC which by then there will be 18 million of them...
1 BTC would be about U$S 4,032.00
I haven't accounted for inflation so it could be more, and the most dubious number is the growth number so that's where someone can fight my calculations. Remember, BTCs are not worth more than what people "Feel" they are... however, the more people get into it and start using BTC to exchange goods, the more money will be injected into the system, therefore the total capital of BTC will grow.
That's just my contention.
Feel free to crash it and burn it!
I imagine a future where having one full BTC would be almost impossible!!!
my thought chain (feel free to correct me if I'm wrong, with proof, as I'm sure some ass wipe will)
1 BTC = 13,5
10,500,000 * 13.5 = U$S 141,750,000
there are between 850 and 1 trillion dollars in circulation today. (Source: http://www.doughroller.net/personal-finance/how-much-money-is-in-circulation-today/ and others)
So... let's say BTC can grow exponentially in the next 10 years... not very unlikely with the introduction of new technologies such as NFC, and smartphone becoming a way to pay for goods.
We will have about 18,000,000 BTC by 2020 if I'm not mistaken (source: http://en.wikipedia.org/wiki/File:Total_bitcoins_over_time.png)
My contention is that there will be about 72,576,000,000 roughly 72 billion BTC which by then there will be 18 million of them...
1 BTC would be about U$S 4,032.00
I haven't accounted for inflation so it could be more, and the most dubious number is the growth number so that's where someone can fight my calculations. Remember, BTCs are not worth more than what people "Feel" they are... however, the more people get into it and start using BTC to exchange goods, the more money will be injected into the system, therefore the total capital of BTC will grow.
That's just my contention.
Feel free to crash it and burn it!
Why isn't there a "stays the same" option?
Man, that's crazy-talk.
Agreed, it's not allowed to stay the same, and it's definitely not allowed to go down.
Why isn't there a "stays the same" option?
Man, that's crazy-talk.
Why isn't there a "stays the same" option?
I'd say there is a 90% chance that they'll be worth more at the end of 2013 than today. I'm not sure of the exact amount but I believe that one day a Satoshi will be worth 1USD - one day!
The way The Bernank' is printing, that day may arrive sooner than expected.
Quote
They will be worth more at the end of 2013 - how much more? Nobody really knows but in the long term over 5 - 10 years or so you are looking at MASSIVE gains
Massive gains or fail are the two most likely scenarios, in my (and some others') opinion.
I'd say there is a 90% chance that they'll be worth more at the end of 2013 than today. I'm not sure of the exact amount but I believe that one day a Satoshi will be worth 1USD - one day!
I only discovered bitcoin a few days ago (I've been travelling the world and lost in the wilderness too long), and I think this is like the start of the internet all over again, this will be just as revolutionary if not more so. Everyone is saying "I wish I had bought more when they were cheaper" or "it's too late for me" what these people don't realise is that THIS IS the early days - bitcoin is still way on the fringes which is a great thing for us early adopters
They will be worth more at the end of 2013 - how much more? Nobody really knows but in the long term over 5 - 10 years or so you are looking at MASSIVE gains
I only discovered bitcoin a few days ago (I've been travelling the world and lost in the wilderness too long), and I think this is like the start of the internet all over again, this will be just as revolutionary if not more so. Everyone is saying "I wish I had bought more when they were cheaper" or "it's too late for me" what these people don't realise is that THIS IS the early days - bitcoin is still way on the fringes which is a great thing for us early adopters
They will be worth more at the end of 2013 - how much more? Nobody really knows but in the long term over 5 - 10 years or so you are looking at MASSIVE gains
I think it depends on several factors. If there is some sort of currency collapse by which people start to use bitcoin to replace their fiat transactions, that will be beneficial.
However, what I really think it will come down to is the bitcoin entrepreneurs creating technologies that become relevant to individuals. Once the average person can make bitcoin purchases at any store with a debit card, similar to what Paymium has begun to do in Europe, when someone can plug a safe into a wall that securely stores bitcoin savings with no setup or technical knowledge from the user, once bitcoin transactions into fiat currencies are instant and fluid, once I can get direct deposit in bitcoins. These are the types of things that lead to bitcoin being so easy and enjoyable for an individual to use without technical knowledge to make every day transactions, even from businesses who do not currently accept bitcoin.
Who knows what one thing develops that gets a million people to join bitcoin. Once a debit card comes out, I have at least 6 friends who will join. The potential is amazing.
However, what I really think it will come down to is the bitcoin entrepreneurs creating technologies that become relevant to individuals. Once the average person can make bitcoin purchases at any store with a debit card, similar to what Paymium has begun to do in Europe, when someone can plug a safe into a wall that securely stores bitcoin savings with no setup or technical knowledge from the user, once bitcoin transactions into fiat currencies are instant and fluid, once I can get direct deposit in bitcoins. These are the types of things that lead to bitcoin being so easy and enjoyable for an individual to use without technical knowledge to make every day transactions, even from businesses who do not currently accept bitcoin.
Who knows what one thing develops that gets a million people to join bitcoin. Once a debit card comes out, I have at least 6 friends who will join. The potential is amazing.
Sorry I didn't put an option on the poll for the price to drop, most people seem to think they're on the way up anyway but still I should have put some lower choices on the poll.
I'll keep the poll open as this is turning into quite an interesting thread, I'm enjoying this forum a lot already.
c4c
I'll keep the poll open as this is turning into quite an interesting thread, I'm enjoying this forum a lot already.
c4c
People buying and hoarding bitcoins are responsible for the mania that results in the crashes that occur a few times every year, and they are the ones most hurt by these crashes.
If you are about to buy bitcoins because you expect the price to quadruple next year, then you are about to make a big mistake. Absurd expectations are a classic feature of a bubble just before it bursts.
I don't feel comfortable when the value of BTC is increasing much faster than gold or silver or other currencies against the dollar or the euro. It's an indication of a bubble fueled by irrational expectations.
If you are about to buy bitcoins because you expect the price to quadruple next year, then you are about to make a big mistake. Absurd expectations are a classic feature of a bubble just before it bursts.
I don't feel comfortable when the value of BTC is increasing much faster than gold or silver or other currencies against the dollar or the euro. It's an indication of a bubble fueled by irrational expectations.
You are right to a certain extent, but Bitcoin's already had it's huge bubble, and seems more stable now. The expectations aren't entirely irrational because the supply of Bitcoins is drying up (as far as mining goes) and the demand is presumably rising as more people adopt. I think growth will slow, but Bitcoin probably isn't done just yet.
That being said, I would welcome a mini-crash to about $8 so I can buy some! I made the mistake of missing out when they were $5.
The price of Bitcoin will rise permanently as it is a deflationary currency.
But if the "big fish" like smoothie - the biggest owners of bitcoin keep doing this shit speculation like today, people will find it risky to use bitcoins... that's the danger.
The big speculators underestimate their influence on the market, they can destroy the future of bitcoin just for their own interrest. They would earn more if they just left it alone and bitcoin would become mainstream...
That's my opinion...
But if the "big fish" like smoothie - the biggest owners of bitcoin keep doing this shit speculation like today, people will find it risky to use bitcoins... that's the danger.
The big speculators underestimate their influence on the market, they can destroy the future of bitcoin just for their own interrest. They would earn more if they just left it alone and bitcoin would become mainstream...
That's my opinion...
Major crashes seem mainly driven by scares such as exchange hacks, not hoarding. Hoarders could only crash the market if they decided to dump sufficient BTC in one go, right?
And they dump at the first sign of trouble because they realize they might actually lose money instead of making 1000%.
Major crashes seem mainly driven by scares such as exchange hacks, not hoarding. Hoarders could only crash the market if they decided to dump sufficient BTC in one go, right?
Why did I listen? I was going to buy Bitcoins when they were $5 each. I think unless Bitcoins legal prospects (or technical prospects) change, the price will continue to rise, although probably slowing gradually, and will be between $17 and $25 in December of 2013.
If governments start spewing crap at it, then unfortunately, I think Bitcoin won't do too well.
If governments start spewing crap at it, then unfortunately, I think Bitcoin won't do too well.
People buying and hoarding bitcoins are responsible for the mania that results in the crashes that occur a few times every year, and they are the ones most hurt by these crashes.
If you are about to buy bitcoins because you expect the price to quadruple next year, then you are about to make a big mistake. Absurd expectations are a classic feature of a bubble just before it bursts.
I don't feel comfortable when the value of BTC is increasing much faster than gold or silver or other currencies against the dollar or the euro. It's an indication of a bubble fueled by irrational expectations.
If you are about to buy bitcoins because you expect the price to quadruple next year, then you are about to make a big mistake. Absurd expectations are a classic feature of a bubble just before it bursts.
I don't feel comfortable when the value of BTC is increasing much faster than gold or silver or other currencies against the dollar or the euro. It's an indication of a bubble fueled by irrational expectations.
I'm starting to think you've asked the wrong question.
Perhaps: How many dollars will a Bitcoin buy in 12 months?
Perhaps: How many dollars will a Bitcoin buy in 12 months?
How much wood could a woodchuck.......
since this is just a poll, i say around $20
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