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

wachtwoord

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Quote from: rpietila on October 29, 2013, 03:22:49 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

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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

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

600watt

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Quote from: somestranger on October 29, 2013, 02:20:08 PM

Quote from: Corelianer on October 29, 2013, 10:21:35 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

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Quote from: somestranger on October 29, 2013, 02:20:08 PM

Quote from: Corelianer on October 29, 2013, 10:21:35 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

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Are You Shpongled?

Quote from: Corelianer on October 29, 2013, 10:21:35 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

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Quote from: stash on October 26, 2013, 08:13:47 AM

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

I LOL'd hard. Grin

me too so funny

rpietila

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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

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Quote from: zengryT on October 29, 2013, 10:11:39 AM

Quote from: Corelianer on October 29, 2013, 10:07:23 AM

Quote from: phillipsjk on October 27, 2013, 01:32:24 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

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Quote from: Corelianer on October 29, 2013, 10:07:23 AM

Quote from: phillipsjk on October 27, 2013, 01:32:24 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

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Quote from: phillipsjk on October 27, 2013, 01:32:24 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

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Quote from: billington.mark on October 29, 2013, 08:56:00 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

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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

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

wachtwoord

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Quote from: phillipsjk on October 27, 2013, 01:32:24 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

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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

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

anu

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RepuX - Enterprise Blockchain Protocol

Quote from: rpietila on October 26, 2013, 11:59:01 AM

Quote from: anu on October 26, 2013, 03:55:58 AM

Quote from: cryptocoinsnews on October 25, 2013, 01:08:53 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

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Quote from: anu on October 26, 2013, 03:55:58 AM

Quote from: cryptocoinsnews on October 25, 2013, 01:08:53 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

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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 6946 times)