Inflation and all ya know?
Topic: will the bitcoin reach $1000 one day...? - page 119. (Read 112647 times)
It might hit $1000, but by then $1000 may be worth $100 in today's money.
Inflation and all ya know?
Inflation and all ya know?
no i think 200 will be the max
Why so? Have any arguments?
no i think 200 will be the max
'fo shizzle ma nizzle'
The more it is adopted, the more it will be spread among people and the more it's value will rise.
The more it is adopted, the more it will be spread among people and the more it's value will rise.
Even though the past jump was a remarkable increase in %, don't think it will get that high. It's somewhat stable now.
The halving of the block reward every four years supports the doubling of the price at roughly the same pace. So wherever true support lies, whether it's at $50 or $30, means a support of $100 or $60 in about four years.
Undoubtedly speculators and improved infrastructure will drive up the price, but given the current state of the bitcoin, sustainable growth should be about 19% a year.
Undoubtedly speculators and improved infrastructure will drive up the price, but given the current state of the bitcoin, sustainable growth should be about 19% a year.
doubt btc will reach 1000 in the next 4 years
Yes. Maybe sooner than we think ...
Yes... easily.
Popular media is currently playing a big part in the perceived value and driving some fluctuations in price, but ultimately all money is faith based and no matter what we may think now, 5 minutes from now, something could in effect come along and bolster or wipe out that faith. It's pretty much the same with any value system, things only have real market value because enough people have a consensus that they do. We are all playing a gambling game, but the odds are much better than sheer chance, in the long term the odds are that the value will go up.
Scarcity of an object that a market wants invariability drives up price. I think we will have more bubbles and more big drops, but all the new alt coins have made predicting the future of bitcoins a lot harder, you may want to keep that in mind, if your thinking of investing big.
Just my 2cents
Scarcity of an object that a market wants invariability drives up price. I think we will have more bubbles and more big drops, but all the new alt coins have made predicting the future of bitcoins a lot harder, you may want to keep that in mind, if your thinking of investing big.
Just my 2cents
If the userbase for Bitcoin doesn't increase, then logically the price would go down, as the total number of Bitcoins increases.
Thus, for $1,000/BTC to become reality, the userbase needs to grow at least ten-fold in a week. Or more realistically, about twelve-fold in a year. This would need an exponential increase, which is unlikely and could create a bubble like happened a few months ago.
The most likely path is a steady increase, higher than the effect of newly generated Bitcoins. This would mean $1,000 will take about 24 years.
However, fiat notes are printed all the time. This is not the worst part. Your savings can be lend out by banks eleven-fold. The same cannot be done with Bitcoins. Looking at all this from outside the box, you'd think that fiat currencies are more likely to crash to worthless than Bitcoins. In fact, several have! And Bitcoin never became worthless! So when reasoning that money is worth "people's trust x ( people using 2 )" and trust in fiat should stay the same (but fiat suffers inflation) and trust in Bitcoins should rise, then things speed up. $1,000 would 'only' take 4 years (just after the block decrease to 12.5).
This also means that the rise in value won't be a steady incline. Rather, every few months it will 'correct' itself as the increased trust in Bitcoins doesn't show up in the day-to-day exchange rate.
Thus, for $1,000/BTC to become reality, the userbase needs to grow at least ten-fold in a week. Or more realistically, about twelve-fold in a year. This would need an exponential increase, which is unlikely and could create a bubble like happened a few months ago.
The most likely path is a steady increase, higher than the effect of newly generated Bitcoins. This would mean $1,000 will take about 24 years.
However, fiat notes are printed all the time. This is not the worst part. Your savings can be lend out by banks eleven-fold. The same cannot be done with Bitcoins. Looking at all this from outside the box, you'd think that fiat currencies are more likely to crash to worthless than Bitcoins. In fact, several have! And Bitcoin never became worthless! So when reasoning that money is worth "people's trust x ( people using 2 )" and trust in fiat should stay the same (but fiat suffers inflation) and trust in Bitcoins should rise, then things speed up. $1,000 would 'only' take 4 years (just after the block decrease to 12.5).
This also means that the rise in value won't be a steady incline. Rather, every few months it will 'correct' itself as the increased trust in Bitcoins doesn't show up in the day-to-day exchange rate.
Somehow it could go down to the Cellar
When a Seller again like Avalon only accepts Bitcoins then will be again a rise like this Spring.
hi
Answering the question, yes is my opinion.
When?.... its the 1M$ question
i hope soon
Answering the question, yes is my opinion.
When?.... its the 1M$ question
i hope soon Probably less than two years... if we don't collapse to zero in the mean time, which is very possible. Safer than banksters though.
hi
Answering the question, yes is my opinion.
When?.... its the 1M$ question i hope soon
Answering the question, yes is my opinion.
When?.... its the 1M$ question
i hope soon ...When our current systems began to fail, it will only take minutes to hours for total collapse, not days to weeks. With the real-time media of today, once the lines began to form at EVERY bank, credit union, and savings and loan, ever person that has any money in these institutions will stop whatever they are doing and go and stand in line. After these institutions pay the 1% to 2% they have available funds for, it will be over...
I don't think bitcoin is the best choice for the economic doom scenarios - then the most valuable commodities will be fresh water, fuel, pharmaceuticals, guns, and arable land!
Bitcoin is predicated on a functioning internet, which implies functioning telecommunications companies, hardware companies, software companies - pretty much the whole industrial stack. The largest of these companies (Microsoft, Google, Apple) owe nothing to the banks.
The problem is debt - you can still loan out bit coins at interest and cause the same problems.
Two years ago when I discovered BTCs I believed that at some point in the future they could easily be worth over $100,000 each. I wanted to invest a considerable amount in them, but am retired and my wife needs to agree to large investments.
In late 2011, when bitcoins were valued between $2 US to $3 US, I tried to talk her into investing, but she believed the risk was too high. In early 2012 the price reached over $5 US, and I explained how we could have doubled our investment in less than six months, had she allowed me to invest.
In August-September 2012 when the price sank to around $10 US, I explained again that had we bought when I first mentioned it we would have multiplied our investment by four, and had we invested the second time I brought it up we would have doubled our investment. I didn't mention that bitcoins were over $16 a month earlier. I also gave her a four hour course in the state of the fiat currencies around the world. This time she woke up and realized the potential, and allowed me to invest about a quarter as much as I hoped to, yet still a considerable sum.
At that time, I told her that in two or three years bitcoins could reach over $100, and that in five to ten years they could easily be valued at over $1,000, maybe even $10,000 or $100,000 each, depending on what happened to the fiat currencies in the world, and more specifically in the U.S. Since she now realized the financial state of the U.S. and the possibility the U.S. financial system could collapse, she believed it.
In March when the price of bitcoins went over $200 each, we were both shocked! We had no idea they would reach that value so quickly. On the day they reached their high of over $260 each, she thought we should sell enough to recoup our investment, and I agreed. I found a person willing to purchase the bitcoins, but that person only would offer 8% less than the MtGox price. She thought that was too high of cut for them to take, and while we argued about that for two hours, the price plummeted to below $70.
In April the price recovered to about $150 each, and we sold enough bitcoins to recoup all we had invested in bitcoins, precious metals, and other investments. Since selling those bitcoins, the price has never reached $150 again.
Short term, I believe the price could go either direction, depending on the state of the world economies, the pressure to regulate the bitcoins by the U.S. and other countries, the falling precious metal prices, and whether or not tracing bitcoin transactions becomes a part of the 'system'. If too much negative influence develops over the next year, it may kill bitcoins altogether, except for underground use. However, I believe the bitcoin 'system' is robust enough to survive all that it is up against, and eventually will become the 'seed' of the future 'monetary system'. As such, each bitcoin could be valued at over $3,300,000 U.S. (today's dollar value), because it is estimated that total fiat value is currently $70 trillion, and maximum bitcoins mined can only be 21 million, so $70 trillion divided by 21 million equals $3,333,333.33.
How many years this will take depends on how quickly the systems in place today collapse. I believe our current fiat systems are already barely hanging on by a thread, so I predict this will all happen within the next two to five years, maybe even sooner. I cannot accurately predict when these system will collapse, but I can accurately predict how long the collapse will take once it begins. When our current systems began to fail, it will only take minutes to hours for total collapse, not days to weeks. With the real-time media of today, once the lines began to form at EVERY bank, credit union, and savings and loan, ever person that has any money in these institutions will stop whatever they are doing and go and stand in line. After these institutions pay the 1% to 2% they have available funds for, it will be over.
That is my best guess!
In late 2011, when bitcoins were valued between $2 US to $3 US, I tried to talk her into investing, but she believed the risk was too high. In early 2012 the price reached over $5 US, and I explained how we could have doubled our investment in less than six months, had she allowed me to invest.
In August-September 2012 when the price sank to around $10 US, I explained again that had we bought when I first mentioned it we would have multiplied our investment by four, and had we invested the second time I brought it up we would have doubled our investment. I didn't mention that bitcoins were over $16 a month earlier. I also gave her a four hour course in the state of the fiat currencies around the world. This time she woke up and realized the potential, and allowed me to invest about a quarter as much as I hoped to, yet still a considerable sum.
At that time, I told her that in two or three years bitcoins could reach over $100, and that in five to ten years they could easily be valued at over $1,000, maybe even $10,000 or $100,000 each, depending on what happened to the fiat currencies in the world, and more specifically in the U.S. Since she now realized the financial state of the U.S. and the possibility the U.S. financial system could collapse, she believed it.
In March when the price of bitcoins went over $200 each, we were both shocked! We had no idea they would reach that value so quickly. On the day they reached their high of over $260 each, she thought we should sell enough to recoup our investment, and I agreed. I found a person willing to purchase the bitcoins, but that person only would offer 8% less than the MtGox price. She thought that was too high of cut for them to take, and while we argued about that for two hours, the price plummeted to below $70.
In April the price recovered to about $150 each, and we sold enough bitcoins to recoup all we had invested in bitcoins, precious metals, and other investments. Since selling those bitcoins, the price has never reached $150 again.
Short term, I believe the price could go either direction, depending on the state of the world economies, the pressure to regulate the bitcoins by the U.S. and other countries, the falling precious metal prices, and whether or not tracing bitcoin transactions becomes a part of the 'system'. If too much negative influence develops over the next year, it may kill bitcoins altogether, except for underground use. However, I believe the bitcoin 'system' is robust enough to survive all that it is up against, and eventually will become the 'seed' of the future 'monetary system'. As such, each bitcoin could be valued at over $3,300,000 U.S. (today's dollar value), because it is estimated that total fiat value is currently $70 trillion, and maximum bitcoins mined can only be 21 million, so $70 trillion divided by 21 million equals $3,333,333.33.
How many years this will take depends on how quickly the systems in place today collapse. I believe our current fiat systems are already barely hanging on by a thread, so I predict this will all happen within the next two to five years, maybe even sooner. I cannot accurately predict when these system will collapse, but I can accurately predict how long the collapse will take once it begins. When our current systems began to fail, it will only take minutes to hours for total collapse, not days to weeks. With the real-time media of today, once the lines began to form at EVERY bank, credit union, and savings and loan, ever person that has any money in these institutions will stop whatever they are doing and go and stand in line. After these institutions pay the 1% to 2% they have available funds for, it will be over.
That is my best guess!
maybe, we don't know..I hope 
Peeps should remember that 1000 USD/BTC equates to a "market cap" below 10 billion USD. Still a minnow.
The reference fx rate of 1000 USD makes it sound huge and unimaginable but this is purely psychological. It is nigh time to shift the decimal point three places to the right and think in terms of fiat per mBTC, which will put today's rates in perspective. The "big boys" have barely even started to play. Small-time venture capital is in, and a few other investors, but "Winklevii" and their ilk aside, a lot of that money is flowing into startups (BitPay, etc.) as fiat, rather than buying up bitcoin. This is great for those who want to buy bitcoin, as the price remains lower for longer.
With widespread corporate adoption by major players, and ubiquitous usage, even just as a kind of "gold 3.0", there's no reason why we can't see 10 USD/mBTC sooner or later. But that certainly won't be happening next week, and probably not even next year, and much as I admire rpietila's (facetious?) optimism, I think it could be a good time yet before we see 300 USD/mBTC!
I'm betting on 1 USD/mBTC within a year or two from now, but only with moderate confidence. Zero is still a possibility, though that possibility gradually diminishes with each passing day that bitcoin survives, nay, thrives.
The reference fx rate of 1000 USD makes it sound huge and unimaginable but this is purely psychological. It is nigh time to shift the decimal point three places to the right and think in terms of fiat per mBTC, which will put today's rates in perspective. The "big boys" have barely even started to play. Small-time venture capital is in, and a few other investors, but "Winklevii" and their ilk aside, a lot of that money is flowing into startups (BitPay, etc.) as fiat, rather than buying up bitcoin. This is great for those who want to buy bitcoin, as the price remains lower for longer.
With widespread corporate adoption by major players, and ubiquitous usage, even just as a kind of "gold 3.0", there's no reason why we can't see 10 USD/mBTC sooner or later. But that certainly won't be happening next week, and probably not even next year, and much as I admire rpietila's (facetious?) optimism, I think it could be a good time yet before we see 300 USD/mBTC!
I'm betting on 1 USD/mBTC within a year or two from now, but only with moderate confidence. Zero is still a possibility, though that possibility gradually diminishes with each passing day that bitcoin survives, nay, thrives.
Possibly if it gained a chunk of Credit/Debit Cards share, at that time bankers will invent a successor.
Might be. Jump to: