One day, the opportunity to have bought sub $1000 bitcoins would be like buying a 400oz gold bar for under $1k.
Some day...
Well this! Some day...
Topic: will the bitcoin reach $1000 one day...? - page 91. (Read 112647 times)
maybe the price of bitcoin is zero in the future,
This is the most rational bear case IMO and you'd have to be naïve to rule it out. I mean, if there were huge upside prospects and no downside risk, bitcoin would already be trading in four, five, six digits, etc.
I won't put a percentage on that outcome, and believe that it falls as every day passes, but it is well above zero.
The same could be said for fiat currency, and every day the chance increases
maybe the price of bitcoin is zero in the future,
This is the most rational bear case IMO and you'd have to be naïve to rule it out. I mean, if there were huge upside prospects and no downside risk, bitcoin would already be trading in four, five, six digits, etc.
I won't put a percentage on that outcome, and believe that it falls as every day passes, but it is well above zero.
One day, the opportunity to have bought sub $1000 bitcoins would be like buying a 400oz gold bar for under $1k.
Some day...
Some day...
maybe the price of bitcoin is zero in the future, nobody knows, but if bitcoin will be successfull, you will have exponential growth....
True, and what's interesting is how, almost without fail, when BTC value jumps, all other alts fall back in value (vs BTC) and then slowly slowly catch up a bit later.
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the real question is "Which crypto-currency will be most popular 10 years from now".
More likely than not, it won't be bitcoin.
More likely than not, it won't be bitcoin.
More likely it will!
I damire your enthusiasm, and there's no way to know for sure, but I'm betting that Bitcoin will join the likes of Myspace and Napster as a defunct "first of its kind, paved the road, but since surpassed" technology.
You can't compare an open source protocol to a closed source privately owned business. Bitcoin is like HTTP, or even like Linux. Sure, there are many versions, and new features being added, and sure, there may even be options for what kind of GUI or feature-set you use, but it's still HTML, or Linux. Bitcoin has something that in business is called "First Mover Advantage" and "Network Effects." I suggest you google those terms, but in short, everyone will continue to use bitcoin because everyone else is using bitcoin, and all the best developers will continue to flock to bitcoin because everyone else will then use their code and contributions.
/sign
but its "strange" to see, that some people say, that the price will be at 500 $ in 10-20 years. when we look back, there was nearly 300 $ some month ago
!maybe the price of bitcoin is zero in the future, nobody knows, but if bitcoin will be successfull, you will have exponential growth....
Yesterday I sold all my bitcoins @ $2500.
But it is not real It happens in my dream. lol
But it is not real It happens in my dream. lol
But that's the thing, other crypto-currencies don't have a "network effect." Network effect doesn't mean that it is used over a network. It means that it is used by the largest network of people. The bigger the network of people, the stronger it is, and, more importantly, the more it continues to feed on itself. All new customers, businesses, and developers coming into the crypto-currency economy are going to pick what everyone else they know is already using. A new user isn't going to pick Litecoin when the stores in their area accept Bitcoin, and a store owner won't accept Freicoin when the vendors they buy goods from accept Bitcoin. Everyone will continue to increasingly use what their friends and others they interact with are using.
Very interesting food for thought. And don't get me wrong, without bitcoins success, there would be no "other crypto-currencies" to speak of. But once people learn about "decentralized online currency" and once the infrastructure is in place for people and merchants to use and exchange bitcoins effortlessly, once they let go of their dependency on fiat money and overcome their doubt and skepticism, adopting another currency will be just a software update away and the floodgates for competing currencies will be open.
I wouldn't be saying that if I didn't believe there was a lot of room for improvement on bitcoin as a daily form or exchange. Unfortunately, due to its "zero trust" nature it cannot "adapt" to the needs of the market. It can only evolve via spinoff "alt coins".
Ironically, the fate of bitcoin will be decided by people who to this day haven't even heard of it.
The invention of money is not that money is different things you use for payment, rather it is the most sellable good on the market. Therefore it makes sense to have only one sort of money in the free market.
The reason we have different fiat moneys, is only due to restrictions. Governments in all countrys want their cut in the inflation tax.
If it drops, awesome. Buy in.
If it rises, awesome. You're richer.
I'm actually I hoping I can get in at $50 again before it can hit the quadruple digits
I can see it skyrocketing if something like ebay adopts it. So, yeah, not a matter of if, but of when.
If it rises, awesome. You're richer.
I'm actually I hoping I can get in at $50 again before it can hit the quadruple digits
I can see it skyrocketing if something like ebay adopts it. So, yeah, not a matter of if, but of when.
I believe that it will drop instead of gain for now
But that's the thing, other crypto-currencies don't have a "network effect." Network effect doesn't mean that it is used over a network. It means that it is used by the largest network of people. The bigger the network of people, the stronger it is, and, more importantly, the more it continues to feed on itself. All new customers, businesses, and developers coming into the crypto-currency economy are going to pick what everyone else they know is already using. A new user isn't going to pick Litecoin when the stores in their area accept Bitcoin, and a store owner won't accept Freicoin when the vendors they buy goods from accept Bitcoin. Everyone will continue to increasingly use what their friends and others they interact with are using.
Very interesting food for thought. And don't get me wrong, without bitcoins success, there would be no "other crypto-currencies" to speak of. But once people learn about "decentralized online currency" and once the infrastructure is in place for people and merchants to use and exchange bitcoins effortlessly, once they let go of their dependency on fiat money and overcome their doubt and skepticism, adopting another currency will be just a software update away and the floodgates for competing currencies will be open.
I wouldn't be saying that if I didn't believe there was a lot of room for improvement on bitcoin as a daily form or exchange. Unfortunately, due to its "zero trust" nature it cannot "adapt" to the needs of the market. It can only evolve via spinoff "alt coins".
Ironically, the fate of bitcoin will be decided by people who to this day haven't even heard of it.
I agree with that point, but as any other competing crypto-currency would also be an open source protocol, and benefit from the "network effect" of being an online currency, all bitcoin has left is its "First Mover Advantage", and while it would take some very impressive innovations to surpass such a head start, I believe such development is inevitable in the near term.
But that's the thing, other crypto-currencies don't have a "network effect." Network effect doesn't mean that it is used over a network. It means that it is used by the largest network of people. The bigger the network of people, the stronger it is, and, more importantly, the more it continues to feed on itself. All new customers, businesses, and developers coming into the crypto-currency economy are going to pick what everyone else they know is already using. A new user isn't going to pick Litecoin when the stores in their area accept Bitcoin, and a store owner won't accept Freicoin when the vendors they buy goods from accept Bitcoin. Everyone will continue to increasingly use what their friends and others they interact with are using. This is why Linux is impossible to unseat, despite there being tons of other opensource OS's, why DVD is impossible to unseat despite there being other optical media developed at the time, and why eBay is impossible to beat, despite there being better and cheaper alternatives out there.
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the real question is "Which crypto-currency will be most popular 10 years from now".
More likely than not, it won't be bitcoin.
More likely than not, it won't be bitcoin.
More likely it will!
I damire your enthusiasm, and there's no way to know for sure, but I'm betting that Bitcoin will join the likes of Myspace and Napster as a defunct "first of its kind, paved the road, but since surpassed" technology.
You can't compare an open source protocol to a closed source privately owned business. Bitcoin is like HTTP, or even like Linux. Sure, there are many versions, and new features being added, and sure, there may even be options for what kind of GUI or feature-set you use, but it's still HTML, or Linux. Bitcoin has something that in business is called "First Mover Advantage" and "Network Effects." I suggest you google those terms, but in short, everyone will continue to use bitcoin because everyone else is using bitcoin, and all the best developers will continue to flock to bitcoin because everyone else will then use their code and contributions.
I agree with that point, but as any other competing crypto-currency would also be an open source protocol, and benefit from the "network effect" of being an online currency, all bitcoin has left is its "First Mover Advantage", and while it would take some very impressive innovations to surpass such a head start, I believe such development is inevitable in the near term.
Quote
the real question is "Which crypto-currency will be most popular 10 years from now".
More likely than not, it won't be bitcoin.
More likely than not, it won't be bitcoin.
More likely it will!
I damire your enthusiasm, and there's no way to know for sure, but I'm betting that Bitcoin will join the likes of Myspace and Napster as a defunct "first of its kind, paved the road, but since surpassed" technology.
You can't compare an open source protocol to a closed source privately owned business. Bitcoin is like HTTP, or even like Linux. Sure, there are many versions, and new features being added, and sure, there may even be options for what kind of GUI or feature-set you use, but it's still HTML, or Linux. Bitcoin has something that in business is called "First Mover Advantage" and "Network Effects." I suggest you google those terms, but in short, everyone will continue to use bitcoin because everyone else is using bitcoin, and all the best developers will continue to flock to bitcoin because everyone else will then use their code and contributions.
Quote
the real question is "Which crypto-currency will be most popular 10 years from now".
More likely than not, it won't be bitcoin.
More likely than not, it won't be bitcoin.
More likely it will!
I damire your enthusiasm, and there's no way to know for sure, but I'm betting that Bitcoin will join the likes of Myspace and Napster as a defunct "first of its kind, paved the road, but since surpassed" technology.
And I admire yours, but your newbie status is showing your ignorance of Bitcoins. If some technological breakthrough comes out in next few years, then bitcoin can simply adopt it into the program. Getting merchants to accept the the coin is one of the bigger challenges. Bitcoin has a far better potential (and head-start) then anything else.
And your judging me based on my "newbie" status shows your own. Bitcoin can't "simply adopt" anything new into it's functionality, not without majority miner adoption and a hard fork.
Bitcoin has proven the potential for crypto-currencies, but about the only advantage it has is its head start.
After 3rd generation it may hit $1000. We will never be able to see it.
Quote
the real question is "Which crypto-currency will be most popular 10 years from now".
More likely than not, it won't be bitcoin.
More likely than not, it won't be bitcoin.
More likely it will!
I damire your enthusiasm, and there's no way to know for sure, but I'm betting that Bitcoin will join the likes of Myspace and Napster as a defunct "first of its kind, paved the road, but since surpassed" technology.
And I admire yours, but your newbie status is showing your ignorance of Bitcoins. If some technological breakthrough comes out in next few years, then bitcoin can simply adopt it into the program. Getting merchants to accept the the coin is one of the bigger challenges. Bitcoin has a far better potential (and head-start) then anything else.
Impossible.
But I believe it will hit $500 within 10 years.
But I believe it will hit $500 within 10 years.
Quote
the real question is "Which crypto-currency will be most popular 10 years from now".
More likely than not, it won't be bitcoin.
More likely than not, it won't be bitcoin.
More likely it will!
I damire your enthusiasm, and there's no way to know for sure, but I'm betting that Bitcoin will join the likes of Myspace and Napster as a defunct "first of its kind, paved the road, but since surpassed" technology.
Quote
the real question is "Which crypto-currency will be most popular 10 years from now".
More likely than not, it won't be bitcoin.
More likely than not, it won't be bitcoin.
More likely it will!
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