Bitcoin Forum

Give a pretty good argument for how far the price of one bitcoin may go.   Opinions?

http://www.talkgold.com/forum/r389510-.html

Yes, there is clearly a huge upside in the long run, which is probably why I continue to hold mine.

The risk is clearly that something will kill Bitcoin in the meantime, such as the over-dependence on one exchange, hacking, etc.

the way i see it, imagine just 11 million people out of the 7 Billion people decide to try bitcoin. and they are not going to invest their whole life savings of $£50k but instead they just want to dabble with $£1k (a months salary)

well for each person out of those 11 million to get 1BTC would end up costing £$1k each as there is only 11mill coins.

in reality though id say half of the coin are being hoarded and not available to be resold. so this would push the price up further to $£2k a coin, where theres only 5mill coins available for all the demand.

this wouldn't happen for a very long time, though at which point there would be much more than 11 million bitcoins.

I have read in many places that it could even be worth $100,000 a coin.  Granted, that is only if it gains worldwide adoption.  Hence why I post that it is crazy when people call Bitcoin a "risky" investment.  It may very well be the best investment in the history of the world!  I think it is crazy not to take the risk.  There is the risk of not investing too.  I say to my friends just buy one.  If it does become that valuable you will be glad you have one!  If it does not work out, hey, it is cheaper than a trip to vegas and a lot less riskier than that too!  ;)


http://thinkinghard.com/blog/HowBitcoinCouldReachUS$100000PerBitcoin.html (http://thinkinghard.com/blog/HowBitcoinCouldReachUS$100000PerBitcoin.html)

That is the right way to think about it. It would be a very bad risk to assume that it is guaranteed to appreciate in value to a big number. But purchasing a small amount of it that you can easily afford to lose gives you very big potential upside, with known and limited downside. Why wouldn't you make that bet? Yet, many people whom I explain this to are afraid of the "uncertainty" and "risk" even if that is only applied to a $500 bet. Irrational.

Exactly my thoughts.

+1 on this thinking.  

In my mind there is no doubt that other exchanges will emerge on the scene.  Just give it time.  Once we have 2-3 stable popular exchanges, things will be incredibly more stable IMO.

Sure, that's certainly one of the ways I value bitcoin.

A better thing to do imho is look at the whole crypto currency eco system.  Then look at what % share btc will have.

41k is a reasonable estimate ... and no where near the ceiling

It could also go to zero .... so not a game for the feint hearted!

exactly this

I agree there is huge upside potential, but this post doesn't really explain why.  Seems a bit unreasonable to assume that bitcoin would be as valuable as all fiat combined. 

We don't know where Bitcoin is headed, but I guarantee it will be long road with some very tough times.

Now we know why the price is so high.

I wonder what it would be like if each coin was worth $10,000.  That means that .0001 bitcoins would be worth $1.  If it were to become the defacto currency, do you guys think there would be sub currencies emerge which are based solely on Bitcoins?

at $10k it would be nowhere near the defacto currency.

That would make all the bitcoins that have been mined (including lost coins) worth about $110 Billion.

The thing is you may be billionaires or millionaires in the dollar, the pound or the euro, but that's only because they've devalued the crap out of it and Bitcoin is simply an honest reflection of how screwed up the major currencies are, the only reason people can spend so much with Bitcoins is because it's held its value against the other currencies far better and the central banks are working hard to keep the illusion that their paper is worth anything going.

Once the major currencies lose their purchasing power and more and more people adopt Bitcoin everyone will probably be a billionaire or millionaire in paper money but in Bitcoin there will probably be only a select few who have thousands or millions of Bitcoin as was the case before with paper money when they didn't go into a frenzy with it.

Ugh...

Not happy about seeing bitcoin discussed on a website like that...

I think it's nice to see.  I think it would be a nice shot in the arm of Multi level marketing programs and such adopted Bitcoin on a mass scale.  Would certainly bring in a lot of new fans.  Talkgold really isn't a bad forum.  Maybe some of the ads are iffy, but the point of the forum is to help people avoid any scams.

300$ In the next few months, 10,000$ each in long term.

I am not a mathematician, but it seems that there is probably a greater likelihood that if BTC does gain mass adoption, then the price could  just as easily be $100,000 as $10,000 per BTC when divided out by the number of people using it by the amount of money invested in it.  The question really is will it gain mass adoption?  If so, crazy high numbers, if not, our BTC will be worth much less.  Granted, there may be some use for it on smaller scales so I guess we could say that $1000 each is possible but it is something to think about.

1.000 $ this year
5.000 $ next year
20.000 $ in 2 years
100.000 $ by the next halving