Topic: will the bitcoin reach $1000 one day...? - page 105. (Read 112632 times)

it's already $100 and we have yet entered porn and gambling industry in the real world. They will push btc beyond 1000 easily. $1B marketcap is just that one instragram company worth remember?

bit coin will fail with it not haveing enough paid to mine cause it will stop producing coin it will suddenly stop no miners no bitcoin blockchain crash thats not for along time yet there is a term for it google it tradgedy of commons

//en.bitcoin.it/wiki/Tragedy_of_the_Commons

at that point some other crypt currency will rise with high rates paid to mine on proof of stake not proof of work

It's not really that insane at all - think of owning bitcoin as owning stock in the bitcoin economy, the same way that holding dollars or yen or euros or whatever is in a sense owning stock in the country - or monetary union that issues that currency.  The country/union goes under the stock currency goes to zero too.

All stocks start out at near zero - just whatever the initial investment is divided by the number of shares.  Look at something like Apple computer, facebook, etc - when they got massive initial success, their stock probably rose in value a huge amount over the first couple years.

Will it go higher?  IDK.  I thought it would be around $10-13 for a long time, as it had stayed around $5 for a long time.  Then all of a sudden it goes to $100.

So now, could it go to $1000?  I actually do think it could.  The market cap is about $1 billion now, and I don't think $10 billion is impossible, that's still a tiny drop in world commerce. 

I think the real market for bitcoin as an actual transfer mechanism is in the third world - getting people connected to the network there so they can send and receive money internationally would be a huge boon since remittance (immigrants sending their families back home money) is a huge deal and a huge pain in the ass with big fees that bitcoin can take care of.

I hope it will

It could quite well reach it, but could it stay above the $1000 mark?

So long as bitcoin continues to exist, mining will never be 'over', although we may stop calling it mining in the future.

The process of mining involves:

• validating bitcoin transactions
• collecting them into a block with a header
• finding a SHA256 hash of the header with a value lower than the current difficulty
• broadcasting the block to the bitcoin network

For doing this work, "miners" are rewarded with a block reward.  The block reward consists of the sum of the block subsidy (currently 25 BTC) and the transaction fees from all the transactions that the miner included in the block.

Over time, the block subsidy will be reduced.  Approximately every 4 years the subsidy is cut in half.  Meanwhile, as bitcoin gains popularity, the value of the transaction fees should increase.  Eventually the value of the transaction fees will exceed the value of the block subsidy.  Perhaps at that time we'll stop calling it "mining" and we'll just call it "transaction processing" instead.  Regardless of what we call it, those who perform that work will continue to be compensated for their work.

I was thinking today about exponential growth and singularities.

Wouldn't it just be great if the value of bitcoin matched the exponential growth of mining difficulty?

I wonder what will happen to bitcoin after mining is 'over'

definitively not because there are many people including myselves to buy any amount of coins with close to zero value even if bitcoins become useless

maybe you mean scenarios for values under 1 or 0.1 USD?

I agree, I predict it will be at 500 as a high point and hover around 250 throughout next year
year or two after it will hit 1000 but hover around 500

Can anyone explain a scenario where it will go back to 0?

Imagines with a CIA banner appearing one day and everyone going ZOMGANOSANO lol

Yeah pretty much spot on. I'm new to the forum, but have been using bitcoins for about a year pretty regularly. I had about 40 btc when it jumped to ~$100 per coin like it is now. I'm also convinced, after making just $4k, that it will continue to rise. Since then I always put part of my paycheck into bitcoins. The thing is the value of anonymity is going up. With the NSA and basic rights granted by the constitution (in the US) being taken away, the ability to remain anonymous is more valuable. Thus I believe, especially since the NSA and Snowden are in the media right now, that bitcoins will rise in popularity. They will be morth wore.. and us who started early will be wealthy in our 40's off of bitcoins. I absolutely love them, and the idea of giving big banks the finger when it comes to handling your money.. it's like I get to satisfy that little rebel urge inside of me just a bit more.. also while making and saving money. I'm a tech geek.. so of course the idea of bitcoins sounds awesome to me. What's not to love about them? The point is... they will go above $100!

I notice that Blu-Ray, despite using upgraded technology, still uses a laser, to read data off a reflective layer, stored on a round plastic disc. Bitcoin is not the data, or Sony, or a DVD and BlueRay patent. Bitcoin is the plastic reflective disk. In short, whatever comes next is most likely to be an upgraded version of Bitcoin itself, not a competitor with just more features.

This is absurd and delusional. Bitcoin will be the film to a new coin's Blu-Ray in under 10 years.

I believe it will reach $1000 atleast. Gl everyone.

My tip is keep ur btc , don't spend/sell it.

Bitcoin started selling at roughly 0.00076/BTC.

It's roughly added 6 zeros in 4 years, which is insane.

Now it's gone public and mainstream, it's hard to see it add even one more zero.

Unless some country takes it on as their unofficial currency, the market is now being controlled and manipulated by lots of crooks (many senior members of this website can vouch for that ), so most likely can only fall back to where it *should be* without the corrupt manipulation.

The value of bitcoin is also dependent on how much Max Keiser rants about it. His rants dropped off massively since Cyprus spike a few months ago, so I don't figure that is going to help push up the price any more either. He probably cashed out then.

We could all hope

With inflation going up every year it's not too far fetched to think bitcoins will be $1000 in a couple year.  Maybe even this year if EU breaks down again.

Or perhaps less

I hope it'll reach 1k in the next 5 years...

Quite inspiring, let me say.