Will Bitcoin cost $1,000 someday? $10,000? My opinion: No.

wachtwoord

legendary

Activity: 2324

Merit: 1125

Quote from: rpietila on October 29, 2013, 04:22:49 PM

+1. And real estate is dirt cheap. In Berlin everything costs half of what it costs in Helsinki (except housing is 70% cheaper)

I wouldn't call it cheap. I would Helsinki expensive. And you could add a few adjectives in front of that word. I think all real estate in the Netherlands is extremely expensive as well. That's why I have zero interest in acquiring any.

rampalija

full member

Activity: 154

Merit: 100

robably has to do with the Canada and China news.

All at once, it makes it seem like Bitcoin could hit $300 sooner than could have been predicted. I thought $300 was a while off

rpietila

donator

Activity: 1722

Merit: 1036

+1. And real estate is dirt cheap. In Berlin everything costs half of what it costs in Helsinki (except housing is 70% cheaper)

600watt

legendary

Activity: 2338

Merit: 2106

Quote from: somestranger on October 29, 2013, 03:20:08 PM

Quote from: Corelianer on October 29, 2013, 11:21:35 AM

That's the thing, Bitcoin is still in the grey aera, a couple countries made comments...
Thailand--> forbiden
Germany--> partially tax-free

Bitcoins are not illegal in Thailand, and you're supposed to pay sales tax on them in Germany.

concerning germany:
no, there is no vat on btc (like when you buy silver, there is 19% vat added to what you have to pay for your silver)

also, there is no capital gains tax on btc when you hold the coin longer than a year. (in difference to stocks, where you have to pay such a tax, no matter when you cash out)

when you pay something with btc, you still have to pay the vat that is on the item you buy. paying with btc doesn´t erase the vat on the item you buy.

so bitcoins tax status in germany is better then silver or stocks or other forms of investment.

theecoinomist

full member

Activity: 200

Merit: 100

Quote from: somestranger on October 29, 2013, 03:20:08 PM

Quote from: Corelianer on October 29, 2013, 11:21:35 AM

That's the thing, Bitcoin is still in the grey aera, a couple countries made comments...
Thailand--> forbiden
Germany--> partially tax-free

Bitcoins are not illegal in Thailand, and you're supposed to pay sales tax on them in Germany.

somestranger

hero member

Activity: 487

Merit: 500

Are You Shpongled?

Quote from: Corelianer on October 29, 2013, 11:21:35 AM

That's the thing, Bitcoin is still in the grey aera, a couple countries made comments...
Thailand--> forbiden
Germany--> partially tax-free

Bitcoins are not illegal in Thailand, and you're supposed to pay sales tax on them in Germany.

rampalija

full member

Activity: 154

Merit: 100

Quote from: stash on October 26, 2013, 09:13:47 AM

Quote from: FTWbitcoinFTW on October 25, 2013, 09:07:08 AM

I LOL'd hard. Grin

me too so funny

rpietila

donator

Activity: 1722

Merit: 1036

MtGox' problems have not crushed bitcoin, and it is unlikely that there would be much effect (anymore) if they vanished from the Earth.

I think MtGox played their demise quite gracefully as it did not bring severe market disruption.

This is a further proof that Bitcoin survives anything, but you need to be very careful to whom you trust your bitcoins.

Corelianer

full member

Activity: 309

Merit: 100

Quote from: zengryT on October 29, 2013, 11:11:39 AM

Quote from: Corelianer on October 29, 2013, 11:07:23 AM

Quote from: phillipsjk on October 27, 2013, 02:32:24 AM

I think $10,000 is likely to happen before $10.

For some reason, I am convinced that the US is going to do something silly like impose capital controls. That will immediately triple the price (to about $600 USD/BTC). Hyperinflation state-side will then make BTC worth $10,000USD/BTC within 2 years.

For it to drop to $10/BTC, the Internet would have to be shut-down for an extended period of time. Could happen, but it would have to be an event more catastrophic that a nuclear exchange between the super-powers. Sad

I think the price goes to $10/BTC if a governement sizes Gox or Bitstamp.
If you cannot exchange your Bitcoins against fiat, you are screwed.

You have to comply with law regulations, thats where MtGox failed in US, thats why the US bank accounts MtGox seizure

That's the thing, Bitcoin is still in the grey aera, a couple countries made comments...
Thailand--> forbiden
Germany--> partially tax-free

zengryT

hero member

Activity: 745

Merit: 500

Quote from: Corelianer on October 29, 2013, 11:07:23 AM

Quote from: phillipsjk on October 27, 2013, 02:32:24 AM

I think $10,000 is likely to happen before $10.

For some reason, I am convinced that the US is going to do something silly like impose capital controls. That will immediately triple the price (to about $600 USD/BTC). Hyperinflation state-side will then make BTC worth $10,000USD/BTC within 2 years.

For it to drop to $10/BTC, the Internet would have to be shut-down for an extended period of time. Could happen, but it would have to be an event more catastrophic that a nuclear exchange between the super-powers. Sad

I think the price goes to $10/BTC if a governement sizes Gox or Bitstamp.
If you cannot exchange your Bitcoins against fiat, you are screwed.

You have to comply with law regulations, thats where MtGox failed in US, thats why the US bank accounts MtGox seizure

Corelianer

full member

Activity: 309

Merit: 100

Quote from: phillipsjk on October 27, 2013, 02:32:24 AM

I think $10,000 is likely to happen before $10.

For some reason, I am convinced that the US is going to do something silly like impose capital controls. That will immediately triple the price (to about $600 USD/BTC). Hyperinflation state-side will then make BTC worth $10,000USD/BTC within 2 years.

For it to drop to $10/BTC, the Internet would have to be shut-down for an extended period of time. Could happen, but it would have to be an event more catastrophic that a nuclear exchange between the super-powers. Sad

I think the price goes to $10/BTC if a governement sizes Gox or Bitstamp.
If you cannot exchange your Bitcoins against fiat, you are screwed.

zoinky

hero member

Activity: 811

Merit: 1000

Web Developer

Quote from: billington.mark on October 29, 2013, 09:56:00 AM

The main thing ive noticed when explaining bitcoin is that the vast majority people don't realise how the current fiat monetary system works.
When i show people this video: https://www.youtube.com/watch?v=iFDe5kUUyT0#t=71, (which i think explains it the best) most people are shocked and dont believe it.

Even if bitcoin doesnt work out in the long term, its opening peoples eyes to the way the current financial system is being run, how it isnt sustainable and gives them a kick to do something more intelligent with their assets. Is that bitcoin, gold, silver, property, antiques, etc..? ive not worked that part out just yet!

This is a perfect video to show some people. Thank you.

billington.mark

full member

Activity: 153

Merit: 100

The main thing ive noticed when explaining bitcoin is that the vast majority people don't realise how the current fiat monetary system works.
When i show people this video: https://www.youtube.com/watch?v=iFDe5kUUyT0#t=71, (which i think explains it the best) most people are shocked and dont believe it.

Even if bitcoin doesnt work out in the long term, its opening peoples eyes to the way the current financial system is being run, how it isnt sustainable and gives them a kick to do something more intelligent with their assets. Is that bitcoin, gold, silver, property, antiques, etc..? ive not worked that part out just yet!

rampalija

full member

Activity: 154

Merit: 100

my opinion YES, if ppl are more inerested in this currency

wachtwoord

legendary

Activity: 2324

Merit: 1125

Quote from: phillipsjk on October 27, 2013, 02:32:24 AM

For it to drop to $10/BTC, the Internet would have to be shut-down for an extended period of time. Could happen, but it would have to be an event more catastrophic that a nuclear exchange between the super-powers. Sad

We'd be facing larger problems, such as the struggle to continue to breath.

phillipsjk

legendary

Activity: 1008

Merit: 1001

Let the chips fall where they may.

I think $10,000 is likely to happen before $10.

For some reason, I am convinced that the US is going to do something silly like impose capital controls. That will immediately triple the price (to about $600 USD/BTC). Hyperinflation state-side will then make BTC worth $10,000USD/BTC within 2 years.

For it to drop to $10/BTC, the Internet would have to be shut-down for an extended period of time. Could happen, but it would have to be an event more catastrophic that a nuclear exchange between the super-powers. Sad

rpietila

donator

Activity: 1722

Merit: 1036

Just read the link, the study is not about addresses, rather statistical methods.

anu

legendary

Activity: 1218

Merit: 1001

RepuX - Enterprise Blockchain Protocol

Quote from: rpietila on October 26, 2013, 12:59:01 PM

Quote from: anu on October 26, 2013, 04:55:58 AM

Quote from: cryptocoinsnews on October 25, 2013, 02:08:53 AM

The centralization of BTC owners (big corps, governments, rich people)

Of all things, why would that prevent Bitcoin to rise in value?

I mean, we may not like it if Bitcoin develops that way, but don't confuse your personal likes and dislikes with the market.

A well researched study shows that Bitcoin is not very centralized:
- Half of the coins are held by 1,000 users
- The other half is held by the rest 350,000.

Thanks for that link. My coins are separated into several accounts, most of which fall into the same group as the total. If you give me the data I can tell you if you counted me once or several times.

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: anu on October 26, 2013, 04:55:58 AM

Quote from: cryptocoinsnews on October 25, 2013, 02:08:53 AM

The centralization of BTC owners (big corps, governments, rich people)

Of all things, why would that prevent Bitcoin to rise in value?

I mean, we may not like it if Bitcoin develops that way, but don't confuse your personal likes and dislikes with the market.

A well researched study shows that Bitcoin is not very centralized:
- Half of the coins are held by 1,000 users
- The other half is held by the rest 350,000.

wachtwoord

legendary

Activity: 2324

Merit: 1125

If you buy them now they won't ever cost you $10k

(unless you sell and rebuy)

Topic: Will Bitcoin cost $1,000 someday? $10,000? My opinion: No. (Read 6888 times)