Topic: When will bitcoin hit $100? (Read 4875 times)
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My guess is that now there are a lot of people/teams, as ingenious and educated or more so than "Satoshi", who are working on even better p2p currency.
Don't underestimate the power of the Bitcoin protocol! The currently enabled functionality in the client is but a small fraction of what's possible. Instant transactions, real micro-payments, true anonymity, free automatic escrow, scalable blockchain and much more is what's coming to Bitcoin in the next years. And no, these are not just items on a wish-list but all perfectly possible with the current Bitcoin protocol! It's just that none of the clients makes use of them because it is really hard to get the implementation done right without introducing possible security flaws.
Besides, even if another P2P cryptocurrency with superior features came along tomorrow - it would first have to prove itself over time to be at least as secure as Bitcoin has turned out to be over the last 3.5 years. People are not going to trust serious amounts of money to a system that hasn't been thoroughly scrutinized by a lot of experts for some years. We're not talking about some fancy P2P filesharing protocol after all.
Having said that, I still voted only "within a decade".
We'll forgive you because the poll is kind of silly. I also think it will happen within a decade, and within 5 years, and within a decade.
My guess is that now there are a lot of people/teams, as ingenious and educated or more so than "Satoshi", who are working on even better p2p currency.
Don't underestimate the power of the Bitcoin protocol! The currently enabled functionality in the client is but a small fraction of what's possible. Instant transactions, real micro-payments, true anonymity, free automatic escrow, scalable blockchain and much more is what's coming to Bitcoin in the next years. And no, these are not just items on a wish-list but all perfectly possible with the current Bitcoin protocol! It's just that none of the clients makes use of them because it is really hard to get the implementation done right without introducing possible security flaws.
Besides, even if another P2P cryptocurrency with superior features came along tomorrow - it would first have to prove itself over time to be at least as secure as Bitcoin has turned out to be over the last 3.5 years. People are not going to trust serious amounts of money to a system that hasn't been thoroughly scrutinized by a lot of experts for some years. We're not talking about some fancy P2P filesharing protocol after all.
Having said that, I still voted only "within a decade".
It will reach $100 when the demand is sufficient. So the better question is "When will bitcoin become mainstream?"
Bitcoin trading for 1 BTC to 100 USD and bitcoin becoming mainstream are two very different things. I would not consider bitcoin "mainstream" until 1 BTC purchases 100 onces of gold not just a mere 100 USD.
My guess is that now there are a lot of people/teams, as ingenious and educated or more so than "Satoshi", who are working on even better p2p currency.
(Current "Alternative" p2p currencies, are simply Bitcoin clones, using the same basic concept of mining, etc.)
Since B still can't even come back to its record against USD, i think such a new currency is likely to be unveiled before 100 USD is reached.
If not, i think Bitcoin's value will be suppressed as the result of centralization in mining, full-nodes and exchanges.
If the governments decide to crack down on them, particularly the exchanges and other Bitcoin<>Fiat middlemen, it's difficult to envision 1Btc=100USD...
I posted this statement to betsofbitco not too long ago fwiw, for anyone who wants to gambool 
:
http://betsofbitco.in/item?id=470
"price of bitcoin will reach $100 USD before the end of 2013"
Deadline is mid-2013, so people can't soak up a sure thing when it's almost over, more incentive for early betting imo.
:http://betsofbitco.in/item?id=470
"price of bitcoin will reach $100 USD before the end of 2013"
Deadline is mid-2013, so people can't soak up a sure thing when it's almost over, more incentive for early betting imo.
Wasnt Bruce who said "up up up"? lol
Indeed, I still have it in my ears when I think back.
It's certainly been a wild ride since then but the most exciting times are most probably still ahead.
uh oh, these threads again
Aaah yes, reminds me of the good old times about 14 months ago - up Up UP
Wasnt Bruce who said "up up up"? lol
uh oh, these threads again
Aaah yes, reminds me of the good old times about 14 months ago - up Up UP
uh oh, these threads again
Yup looks bullish to me
time to sell
It can't be, I'm a pig and usually get butchered but atm things are good
uh oh, these threads again
Yup looks bullish to me
time to sell
100 USD/BTC is not at all an extreme prediction imho.
Let's say that it happens when there are 12 million bitcoin in circulation. That would make for a total market value of 1.2 billion USD which isn't even pocket change in the financial world. This is less money than the US spends on securing its oil supply (military) in 20 hours.
No one will take bitcoin seriously till it's a 10+ billion thing - I.e. the bitcoin price is well over 500 USD. Might never happen, but it needs to happen for bitcoin to become relevant.
Let's say that it happens when there are 12 million bitcoin in circulation. That would make for a total market value of 1.2 billion USD which isn't even pocket change in the financial world. This is less money than the US spends on securing its oil supply (military) in 20 hours.
No one will take bitcoin seriously till it's a 10+ billion thing - I.e. the bitcoin price is well over 500 USD. Might never happen, but it needs to happen for bitcoin to become relevant.
If all the bitcoins (lets say 12mil) were worth the same as all apple stock it would mean a bitcoin price of $47000.
$7.50 and $100 not looking so high with that in mind.
100 USD/BTC is not at all an extreme prediction imho.
Let's say that it happens when there are 12 million bitcoin in circulation. That would make for a total market value of 1.2 billion USD which isn't even pocket change in the financial world. This is less money than the US spends on securing its oil supply (military) in 20 hours.
No one will take bitcoin seriously till it's a 10+ billion thing - I.e. the bitcoin price is well over 500 USD. Might never happen, but it needs to happen for bitcoin to become relevant.
Let's say that it happens when there are 12 million bitcoin in circulation. That would make for a total market value of 1.2 billion USD which isn't even pocket change in the financial world. This is less money than the US spends on securing its oil supply (military) in 20 hours.
No one will take bitcoin seriously till it's a 10+ billion thing - I.e. the bitcoin price is well over 500 USD. Might never happen, but it needs to happen for bitcoin to become relevant.
It will reach $100 when the demand is sufficient. So the better question is "When will bitcoin become mainstream?"
uh oh, these threads again
Yup looks bullish to me
uh oh, these threads again
Bitcoin will cross the $100 threshold on February 5, 2013.
What time?
Geez, I'm not psychic, dude.
Bitcoin will cross the $100 threshold on February 5, 2013.
What time?
Geez, I'm not psychic, dude.
I think it will hit 100 sooner than we think. Gambling will play a big role in weather it happens or not.
Please advertise poker sites to your friends and family.
I got a few people to sign up (that can really care less about how bitcoin works) and gave them a few chips .. now they are hooked and want more bitcoins.
Please advertise poker sites to your friends and family.
I got a few people to sign up (that can really care less about how bitcoin works) and gave them a few chips .. now they are hooked and want more bitcoins.
well said 
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