Topic: Why bitcoin will hit 100000$/BTC in 2014. My conspiracy theory - page 4. (Read 10111 times)

Nice thread, but I think the OP and others are looking at the situation from the wrong end of the microscope.

My conspiracy theory is that perhaps the Fed is behind crypto-currencies.  Think about it.  They've expanded the balance sheet by well over $14 Trillion since the housing collapse and have run out of tools to use.  They have been relying on *poof* money creation to keep the system afloat.  That is unsustainable and there is no "out" to rein in all that liquidity.

Unless one simply created another currency and converted a huge chunk of to that new currency.  Well, lookie thar!  A new currency with a mysterious origin just *poofs* onto the scene right after a new administration takes over and sees that things are a complete and utter non-fixable mess.  So, they maintain the status quo until the new currency gets some good footing, but without outright endorsing it lest it draw attention.  "A love fest" was how the congressional hearings were described, wasn't it?  Not to mention the strategic value a totally new currency might have in curtailing the growing influence of China - our biggest banker.

I could go on for pages, but I'll stop well short.  Just think about it:  The Fed and Treasury actually behind BTC.  Oh, the possibilities boggle the mind!

Also worth considering:  BTC can be denominated down to 8 decimal places.  Isn't a Satoshi = 100 millionth?  So if one were to take our national debt and do the math, then it does seem plausible that a BTC should be at least $100,000 USD.  That would be a more supportable arguement for such an obscene(?) valuation.

Yes, the mind gets boggled with the possibilities...

the U.S. already has hundreds of thousands of bitcoins as a reserve currency (seized from DPR by the FBI)

i think we'll eventually see other nations hop on the bandwagon as well, but 100,000 in a year? that's pretty unlikely.

i wonder how much the confiscated Ross Ulbricht coins will be worth a few years down the road.  I can see the headlines already: "jailed man single handedly paid off USA's debt to china"

Tenfold increase every year. 100k by 2016.

That's not absurd, unsustainable or any of the other nonsense. That's fully to be expected given the current very low level of adoption and the ever growing awareness and demand.

Anyone wanna play a round of golf on the moon?

China is understood !!!

U.S give most BTC to China and takes most real money of the Chinese people. Give nothing for real money !!!
It is tactical general impoverishment of China.

Check this, 99% transaction U.S and China !!! Chinese real money (yuan) go to U.S wallets.
http://fiatleak.com/

I agree with this, but does anyone see 50k/bitcoin in the next couple years?
         
                                               
Or is it just a few who believe it will go this high and... is there any experienced traders on here who are long bitcoin but
think anything between 10k and 50k is ridiculous?

I'm thinking you probably chose the wrong username...

Stop posting nonsense, your topic should be removed, not even realistic. Should be under category of "fantasy", not "speculation".

OP, you long pressed your "0" too much and have 2 0s more.

Exactly. Gentleman, I think BTC is the de-facto new world currency. 

Strategically, it makes sense for the Chinese to quietly push for a stateless decentralised currency of any type. They can avoid getting any scapegoating when the US dollar nightmare unwinds.

I like your theory!

But realistically, it's just wealthy Chinese investing. I invested some for some Chinese businessmen back in the 50s after the April crash. Then Baidu announced accepting BTC, getting the ball rolling -plus free trading at BTCChina, people put money in to trade, pushing up the price, causing a mania - Asians love this type of stuff.

If I have learned anything this year, it is that I am unable to overestimate what bitcoin can do.

You might have managed, though.

Maybe this is their exit strategy

China will never supply cryptocurrencies. It is centralized country.

I got in early enough for two orders of magnitude, and they've come far faster than I ever expected.  Another two seems -- possible, but I doubt they will be nearly as fast.

Over the next 30 years or so.  Most of China's USD holdings are in US treasury bonds not "cash".

There's a chance it'll hit $10k per BTC, albiet fairly small.

I doubt 100k, though.

Who knows, may be they are doing it right now.

maybe China will use their trillions of USD toilet paper reserves to buy bitcoins