Topic: When will bitcoin go to 400? (Read 4105 times)

between 150-200 to NY - 95%.
between 300-400 to NY - 75%.
rest options - 60% each :p

Well that's how I do it already being from Europe (with mt gox). So from people outside US there will be little difference.

In which case the average Joe isn't going to want to go through that trouble, which severely limits the marketability of the currency.

Also, there will always be relatively easy to exchange USD to bitcoins. If the US gov and other govs outlaws bitcoin, exchange-markets will emerge in Panama, Isle of Man and some carribian  Islands and other such places where people today conduct "offshore banking". You would wire deposits to them and the US Gov can't do shit about it...

What he said :-)

You are assuming that there will not be other sources of demand.  The world's  black market is huge.  Imagine how useful to people in this market an anonymous digital currency would be. 

Well they failed with piratebay didn't they, and bitcoins are even more decentralized than bittorrent, Piratebay at least have a website where they share links to the torrents. Also, it's a lot easier for a government to explain why it's wrong to pirate then why it's wrong to trade in a virtual currency after mutual agreement. Don't forget that most of us live in a democracy or at least a approximation to one. If most people in, in this case US, are aware of bitcoins and don't agree with a banning of them, Obama will have to think twice. Now or never, now not so many people are aware of it

I'm as big a bitcoin fan as anyone, but the "correct" answer has to be Never. If you think there's a greater than 50% chance of it hitting 400 in the next few years you should be buying every single bit you can afford because that would mean it's hugely undervalued right now.

Bit of a difference between going through 1 local exchange and not having to worry about government interference than going through a foreign exchange and jumping through various hoops to get your cash, like having a check sent or a wire transfer, rather than a direct bank deposit. There is quite a difference.

Well, people are doing it now and probably will later too. No difference brah.

Your whole assumption is that the government will fail. There is no proof, either way, as to whether or not an attempt to ban will succeed or not. If there are limited routes for people to exchange BTC for other currencies and it is not a simple process, no one will want to invest time/money in it. No one is going to want to jump through hoops to use a currency.

Why is it that bitocins are so awesome, yet the government wants it to be illegal? That sounds exactly like cannabis to me. Make it illegal. Let it go viral. Bitcoins utility is so great that confidence could fall to less than pennies and come back ten fold. We've already got the guns. You didn't think we'd make it to Walmart, did you?

If mighty US gov. seriously tries to kill the Bitcoin, I say it's a good thing for two reasons: 1: They will fail and look stupid which will probably refrain many other governments  from trying (ok, governments in general might not be known for learning from others mistakes, but still...) 2: The Bitcoin, surviving a attack from the worlds most powerful government, will look a lot more solid and reliable...

A government can never stop bitcoins entirely, for that they would need to seize all hdd:s and servers in the whole world that store bitcoins. That, of course, will never happen. What they can do is banning all the the sites that exchange bitcoins or accept it for payments like mentioned. That is, those based in the country of the government in question, in this case US. If most other countries act like US, we will end up exchanging bitcoins in the same countries we today use for "anonymous" offshore-banking and webhosting: Isles of man, Panama, Cayman Islands, Channel islands etc. For the user, the physical location doesn't really matter so this will not change much. There will always be countries where it's legal. It will be less attractive with less places that accepts it, sure, but far from useless. But that's kind of a worst case scenario, the bitcoin will probably be legal in many countries. Not that the governments want it but many of us lives in democracies, and the people will want it. But gov'ts will of course use scare-tactics and propaganda to change the general opinion. I'm seeing them using three arguments: 1: the It's-mostly-used-for-illegal-activities-arguments, 2: The deflation argument, and 3: The-governmen's-lack-of-control-arguments (although that is the beauty of it for many people). So let's see if the people buys it...

 

I actually see a lot of similarity between cannabis and bitcoin. 

The fact that Hearst's timber interests were threatened in the 1930s by the easy with which to make paper out of hemp vs. wood pulp eventually led to the criminalization of cannabis.  His newspapers printing articles to cause panic and hysteria didn't hurt either. http://en.wikipedia.org/wiki/Legal_history_of_cannabis_in_the_United_States

Powerful interests are aligned against bitcoin. 

When it comes right down to it, I think most people don't really care about currency.  They don't particularly care about quantitative easing or deficit spending.  All they really care about is their own comfort.  If it increases their comfort then it may have a chance of going to 400.  If it doesn't we will be lucky to see it hold at 40.

The only difference is that pot is a tangible good. What good is a virtual currency if you can't spend it? If no one will accept Bitcoins as payment then they're useless. If the government outlawed Bitcoins it would pretty much be the end of it. I feel like I'm repeating myself.

Bitcoins are made an illegal currency and companies can no longer exchange BTC for USD. Companies no longer accept BTC. BTC prices plummet. How hard is that to understand?

I would LOVE to have underground illegal crypt-currency. That would literally make my life. That would just seal the deal with my persona, might as well boot right into the MAtrix.

I am don`t know when it will be 400 $, and don`t even want to guess. But when i am understood , that even now,  1 $ is worse  3 bitcents, i am laughed for half of hour.

If the government made accepting bitcoins illegal it will be the greatest thing that could have happened to bitcoin. Look what it did for reefer.

If there isn't any action by the US government against bitcoin by then, I think bitcoin will reach parity with gold by the once by the end of the year.

They can't just ouwlaw it. They can only try, but it's going to be a pain in the ass for those legislators willing to ban bitcoins, as it would also threaten other "legit" electronic currencies.

Anyways, yeah I know US is a corporate dictatorship. I'm european but I know that if it's banned in US it will affect legislation in other countries.