Topic: When will bitcoin hit $100? (Read 4886 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 
2018
That makes me wonder if even the USD is even around by then 2018
That makes me wonder if even the USD is even around by then 
2018
Bitcoin will cross the $100 threshold on February 5, 2013.
What time?
Something's gotta give. They are running out of financial sectors to inflate. Eventually, the currency itself is going to bubble and pop. Either the dollar will be re-issued at 10:1 to pay off the national debt, or they will just have to run the presses to keep government and debt going. Either way Bitcoin will be worth 10x what it's worth now.
It's not so much when Bitcoin will hit $100, but when $100 is only worth 1 BTC.
I disagree strongly: the bitcoin economy is nowhere near the breadth or maturity of the USD economy. If it was, then we could talk coherently about the value of the dollar denominated in bitcoin. However, as it is now and for the near-term future, bitcoin's value is primarily determined by its exchange rate against the dollar, euro, or other currencies. If there was anything close to parity between the amounts of goods and services available for e.g. USD or EUR and bitcoin, then we could say something like '$100 is only worth 1 BTC', but not until then.
During this phase of bitcoin development, the gap between a speculative digital commodity and a full-fledged distributed digital economy needs to be bridged. As long as bitcoin is more accurately described as a digital commodity, it's more coherent to say that the price of bitcoin fluctuates against the dollar than the other way around.
All that being said, it be pretty sweet if we ever get to the point where we can talk about USD losing value against the bitcoin, but we won't be there until BTCUSD is at least $10,000. And there's a real chance that won't ever happen.
As to the topic post. I think bitcoin will pass $100 within the next two years, I'd put my guess around August 2013.
Bitcoin will cross the $100 threshold on February 5, 2013.
Now that's a prediction!
Bitcoin will cross the $100 threshold on February 5, 2013.
Chances are generally very low for 1 BTC = $100. Unless the dollar goes nuts (which, in fact, has high chance) ...
I honestly don't think so - even all the political and philosophical aspects aside, Bitcoin has the potential to be one of the most efficient online payment systems. Within the next 1-2 years I expect the scalability issues to be solved and some more advanced features to be implemented. Together with many new competing Bitcoin payment providers similar to Bit-Pay who enable cheap and easy integration for merchants who still want to get fiat, Bitcoin is pretty much bound to reach a non-negligible market share in the realm of online/mobile/micro- payments. To facilitate only 1% of those huge markets would require one Bitcoin to be worth > 100 USD. Add in some speculators/investors and you'll get there even faster.Of course there's all kinds of possible roadblocks (mainly increasing regulatory intervention) but so far Bitcoin has turned out to be very resilient even in really rough times and it may well turn out to prevail against even more serious attacks.
It's not so much when Bitcoin will hit $100, but when $100 is only worth 1 BTC.
if bitcoin can prove to be a powerfull weapon against inflation, its game over and bitcoin comes out the winner
It's not so much when Bitcoin will hit $100, but when $100 is only worth 1 BTC.
Chances are generally very low for 1 BTC = $100. Unless the dollar goes nuts (which, in fact, has high chance) ...
I think the definition of a bitcoiner is "a person how wishes he could free himself form dept slavery that is the bank's fiat system. He pushes the idea to everyone around him, not motivated by greed but by the prospect of finical freedom. Bold and fearless the bitcoiner transfers his wealth into bitcoin, hoping to see the day where people around the world stand together and cause the long over due finical revaluation"
Its going to take a lot of time for people to realize that their even is a problem, and a need for something like bitcoin. people need to wake up, and that will only happen with a disaster... lucky for us the banks have been planning such a disaster almost a century, as they make their final moves to OWN us all, bitcoin will be the peoples beacon of hope.
end of inspirational ramble
Its going to take a lot of time for people to realize that their even is a problem, and a need for something like bitcoin. people need to wake up, and that will only happen with a disaster... lucky for us the banks have been planning such a disaster almost a century, as they make their final moves to OWN us all, bitcoin will be the peoples beacon of hope.
end of inspirational ramble
Greater than a decade, if it lasts that long.
oh you...
It'll hit 100 when all of the Bitcoinica customers get their funds back.
hahanot that funny.
Greater than a decade, if it lasts that long.
if it doesn't get exploited before.. which is likely, I'd say within 5 years
It'll hit 100 when all of the Bitcoinica customers get their funds back.
I would say within 5 years.
That was my guess as well, but I've been wrong before.
Does it really matter?
Shouldn't it say something like 3 OZ of silver?
Shouldn't it say something like 3 OZ of silver?
What say you??
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