Topic: Will Bitcoin cost $1,000 someday? $10,000? My opinion: No. - page 2. (Read 6946 times)

I LOL'd hard. 

LOL that is great

It is not because bitcoin is very valuable, it is because too much USD get printed every day

FED is printing 2.8 billion USD per day, and there is only 3600 coins per day generated, which gives a corresponding value of 780K dollar per coin if both are accepted as payment medium equally

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.

The ecosystem just needs to slowly develop like it has been up until now, and with it the price will continue rising. $1,000 definitely seems likely within just a couple years.

The wallet security and ease of use is still a big concern right now.  And many people won't have enough bandwidth to download the whole blockchain

Comparing with the banks, bitcoin are still limited for tech savvy people

altcoin offer the same service for cheap?
lol no, altcoins is a cheaper service.


its a fact that 99.99% of altcoins are set to die. buying in alts is CRAZY risky even LTC could easily die within a year.

true, I am buying into FTC, but Its not because i think bitcoin won't reach 1000$ its cuz i think FTC has a chance at 1$ / coin, once bitcoin takes over.

if bitcoin doesn't grow into something huge all altcoins are doomed, imo. but thats not to say there isn't huge opportunity in the alts. 1$ / FTC would mean a 12X increase, bitcoin going to 1000 represents a 6X increase.

by buying an alts, i'm adding a huge amount of risk for potentially higher returns, I honestly think the risk is not worth taking, unless you are willing to actually participate in the community of the alt you are buying.

I find your lack of vision disturbing

Bitcoin is too volatile, exchanges are vulnerable to ddos and online exploits, pools and e-wallet computers are exploitable as well.
Second to that, you have groups of whales that sell off high volume of btc to create panic selling.   Exchanges do not have countermeasures to people trying to manipulate btc market by high-volume scaring.  In the SEC they have visibility on this type of action.  However, in bitcoin you do not.



As an investor in bitcoin, I will continue to mine and buy / sell btc.   However, I am done buying mining equipment.  That game is long over now.


All in all, bitcoin will change the way the world processes payments.  It will have value as well.  $100-$500 range is what I think.  I also think it would be better to back btc by Palladium, gold or silver.  Make the PMs have a lower value than the btc...not the other way around.

Oh great, this again.


For the 10.000th Time.

Do you have any Idea just how much saver a 0 confirmation transaction is compared to a credit card payment. Have you ever been asked to wait in line for 180 days until your credit card payment can't be chared back?  

This is no problem for low value goods.



http://bitcoin.org/bitcoin.pdf

7. Reclaiming Disk Space.





  there are more miners than ever in Bitcoin. Mining Hardware never was more decentralized as right now.


Don't see a problem here. There is nothing wrong with people getting rich. Last time I checked this was still OK.

Exactly - there are indeed large mining groups now, but the "hands of the few" argument is bullshit just designed to grab the attention of whiny keynesians. "Oh those evil rich people ruining Bitcoin"

True, so that is not driving the current increase.
I think it is justified simply because a very large pool of interested users started joining (the Chinese) for all the things that are good about bitcoin, as they already were before the increase. More customers, more demand. Nothing wrong with that. Exactly according to plan, in fact.

Very much like the jan-apr peak, actually, when a lot of new people got introduced to bitcoin. However, at that time the increased usefulness (support from various companies, newly developed tools and services, etc) attracted new people.

No, a lot of people have, and even more preordered insane amounts of hashing miners. I do not see centralization here.

i'm creating service that will be accepting bitcoin and it will be possible thanks to bitcoin. Because i'm not going to deal with banks or other institutions hoping they will not ban my account or freeze money there. Not to mention their fees.
I think there is more people like me. You are not expecting those services fall from the sky, don't you?

Created this thread yesterday, I am guessing you must have seen it before posting this lol.

$10 VS. $10,000 - What Say You?
https://bitcointalksearch.org/topic/10-vs-10000-what-say-you-317405

Nothing ever changes on this forum at least  
Let's just be honest: no one knows where this is going

yeah, this topic is being discussed at least once a month, only the OP name changes. 

YABWNR$XT

Yet another bitcoin will never reach $X thread? Seriously?

Relatively little had also changed just before the big run up in price we saw in march/april...but there were lots of these little itty bitty things that had happened, none of which by themselves were that significant or had much to do with the utility of bitcoin (fincen ruling, etc.) - but in the end led to a significantly higher overall price level, even after a big crash.

Along with Baidu, I also think the silkroad thing that happened recently is reasonably significant and worth a mention as a possible driver for the spike we are seeing at the moment - a lot of people I know personally, and just from reading general peoples opinion on it, there seems to be more genuine interest in it now, whereas before lots of people (including me) were pretty worried that the whole thing would fall apart if silkroad got busted

It seems that you are in favour of an alt-coin that solves the problems you outlined above - so do you think that this alt-coin, (whatever it may be) will someday cost $1,000 or $10,000? I think that either way, if the idea of decentralised currency does take off (whether bitcoin, or a superior alt-coin), it will be us that are currently following the development of bitcoin that would be first in line to catch wind of this superior alt-coin, if one ever does manage to emerge despite bitcoin now having a huge following - as other people have said, its a bit like the http: etc. infrastructure of the internet, email and all that stuff - there are probably more effective ways of doing this in hindsight, but these systems have caught on, and its not going to be possible to change our global dependence on them anytime soon, even if somebody does think of a better system.

I guess its still relatively early days yet, but I personally think that bitcoin will either demonstrate to the world that decentralised currency works as a concept, or that it doesn't. If it does succeed, then bitcoin (and possibly some alt-coins too) could end up massively valuable. If bitcoin doesn't succeed in this way, I don't think any alt-coin would either.