When will the price go to $1000/BTC?

mgio

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Quote from: Pokerfan on September 06, 2013, 02:27:40 AM

I don't think $1000 is possible until the block reward halves. So no earlier than 2016.

Of course, if fiat currencies collapse before then, the sky will be the limit.

Why would the block reward have anything to do with it?

adworker

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Quote from: Gordonium on September 04, 2013, 12:58:32 PM

What do you think?

I think there is similar thread:

"will the bitcoin reach $1000 one day...?"
https://bitcointalksearch.org/topic/will-the-bitcoin-reach-1000-one-day-242160

nobbynobbynoob

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Annuit cœptis humanae libertas

The transition to talking more in terms of mBTC/µBTC will take place organically.

The first major bubble peaked at 31,90 USD, then slumped to 1,99 USD.
The second bubble peaked at 266 USD, then slumped to 50 USD.

I think it is likely we can see 400 USD by the middle of next year and would be surprised if it's much less than that. The current exponential growth trend is one order of magnitude roughly every year. Who knows when that will end?

I'll vote with predictions from my behind and say 400 USD by next June, at least 1000 USD within two years, with 0 USD not being anywhere near impossible.

superduh

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by December-
reason: people won't be selling coins from their (mostly negative ROI) to fiat below what it cost them in bitcoins or fiat.
this means that people will be more STUBBORN and won't wish to sell. price -> skyrocket to $1000 sometime next year

telemaco

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I think it's grow maybe somewhat delayed by the high value of each BTC. If we were always talking about mBTC, the common populace would probably adopt it much easier.

One thing is to have one BRK-A (Berkshire Hathaway share, Warren Buffet !!!) at >100K $ or on Google share at 850$ (hell it is google!!) and another is to have some mysterious coin that might work or not in the future (again for the common people) valued at 1000$

Now if one new guy goes to Bitstamp and buys 950 mBTC he probably is very happy with it. He probably won't be so willing to spend so much money for a 0.950 BTC.

Just some thoughts though. Maybe some marketing/sales people can provide some light on this.

600watt

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+1

painlord2k

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Next year around summer.

In spring 2011 BTC hit 1 USD
In summer 2012 it hit 10 USD
In spring 2013 it hit 100 USD
.....
In summer 2014 it will hit 1.000 USD

It could be earlier, because the quantitative easing of USD is inflating the USD base a lot faster than BTC base is inflating (even with ASICS being deployed).
If mass adoption continue, the pressure to the price will become stronger and stronger.
As the price increase more and bigger transactions will be possible.
Currently 1 M USD transaction will rock the exchange at 100 USD, so they are rare.
If the price go to 200 the 1 M transactions will become more easier to do and more common and this will push the price higher.

It appear small potatoes now, but from July we doubled the price of BTC in USD (around 60 days).
Other 60 days and we could be around 260 again without fireworks.

over1977v

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Quote from: Pokerfan on September 06, 2013, 02:27:40 AM

Of course, if fiat currencies collapse before then, the sky will be the limit.

Yes, but hitting $1000 when $1000 is still very interesting amount will be much harder I guess

Pokerfan

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I don't think $1000 is possible until the block reward halves. So no earlier than 2016.

Of course, if fiat currencies collapse before then, the sky will be the limit.

adworker

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Quote from: Gordonium on September 04, 2013, 12:58:32 PM

What do you think?

No one knows, maybe never because there is nothing like profit without risk associated

600watt

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april 10, 2014

and don´t miss: https://bitcointalksearch.org/topic/announcement-the-international-when-bitcoin-reaches-1000-party-285771

Zaih

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26 hours

Xiaoma

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I think we are pretty near to the end of this correction phase, back over 200 by December, bulls time until 500 next summer. Next bear months so.. not 500 again (but stable) until 2015. There is the next rally that could move BTC to 1000.

So, being fairly optimistic, not touch it before summer 2015. Still, name many investments that get 10x in just 2 years. It will only work if the infrastructure improves.

Tirapon

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My guess: next year some time, assuming continued rate of growth and development. Unforeseeable circumstances could change that either way; Winklevoss ETF could cause a massive rally if it gets approval, on the other hand bad news such as a government ban could set things right back. What would be interesting in such a case would be how other governments react - e.g. if there was a ban in the U.S, how would China/Russia/Europe respond?

sgbett

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I also vote 2014, probably summertime, and the volatility will still be such that you'll see several percent swings on several days out of any given month.

The $10 swings today will be $100 swings... crazy times. Gonna be real hard to hold tight!

MrVivaldi

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Soon enough. The question is not when, the real question is how many are you able to accumulating and what the purchasing power of that arbitrary number of dollars will be.

matt608

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No sooner than 5 years, but I do think it will get there.

leemar

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Quote from: mgio on September 04, 2013, 02:59:22 PM

When and if the Winklevoss ETF is approved.

+1

mgio

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When and if the Winklevoss ETF is approved.

leemar

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I think three things are needed….

1.   Stable exchanges with seamless banking facilities to move fiat in and out easily. Look for the first really Bitcoin friendly banking announcements.
2.   The gaming industry to really get behind Bitcoin, http://upstart.bizjournals.com/money/loot/2013/09/03/bitcoin-casinos-in-the-future.html?page=all

3.   International exchanges mature to make remitting a simple option.

1 + 2 are probably enough to get to $1000. 3 to move well beyond, no idea when/if this will happen.

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