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Title: What price do you see Bitcoins reaching? Post by: BitshireHashaway on May 12, 2013, 08:14:17 PM In the future, say if bitcoins stick around and become something which many people use in there everyday lives what price do you guys see as being the stable price for bitcoins. Obviously if bitcoins replaces say the US dollar no one will want it fluctuating between $130 and $260 as it has done in the pass. What price do you guys see as being the stable price for bitcoins if it becomes a major currency.
Title: Re: What price do you see Bitcoins reaching? Post by: jhansen858 on May 12, 2013, 08:19:35 PM If Bitcoin replaces the dollar, then you would no longer price the bitcoin in dollars. You would price the bitcoin in bitcoins. Therefore, 1 bitcoin = 1 bitcoin. Now, at that point, you would be more interested in, how much did that house sell for. How much did that business sell for. How much did the city of LA spend in bitcoin last year.
Title: Re: What price do you see Bitcoins reaching? Post by: naphto on May 13, 2013, 08:26:29 AM Would be around 500 dollars / btc. But unlikely to ever happen.
Title: Re: What price do you see Bitcoins reaching? Post by: Mike Christ on May 13, 2013, 08:31:33 AM Would be around 500 dollars / btc. But unlikely to ever happen. Way higher, and at the rate we're going right now, unavoidable, unless Bitcoin turns out to be like the Titanic. Title: Re: What price do you see Bitcoins reaching? Post by: Le Happy Merchant on May 13, 2013, 08:31:57 AM Would be around 500 dollars / btc. I hope you are trolling. I hope this entire thread is trolling. If the U.S. dollar was replaced by Bitcoins the value per Bitcoin (in terms of current purchasing power parity) would be millions. Title: Re: What price do you see Bitcoins reaching? Post by: naphto on May 13, 2013, 09:42:22 AM Would be around 500 dollars / btc. I hope you are trolling. I hope this entire thread is trolling. If the U.S. dollar was replaced by Bitcoins the value per Bitcoin (in terms of current purchasing power parity) would be millions. Bitcoin will never be closed to 10 000 usd, start using your brain. It is still unlikely that we will see 200 usd again this year. USD being replaced by bitcoin is not even conceivable, but if bitcoin somehow is adopted, which is highly unlikely, the value will be around 500 usd / btc. Title: Re: What price do you see Bitcoins reaching? Post by: naphto on May 13, 2013, 09:43:20 AM Infinity. It is a mathematical certainty that 1 USD in its present incarnation will be worth exactly 0 ounces of gold and 0 BTC at some point in the future. Except if the usd disappears that's not even possible... Title: Re: What price do you see Bitcoins reaching? Post by: Miz4r on May 13, 2013, 10:03:23 AM Would be around 500 dollars / btc. I hope you are trolling. I hope this entire thread is trolling. If the U.S. dollar was replaced by Bitcoins the value per Bitcoin (in terms of current purchasing power parity) would be millions. Bitcoin will never be closed to 10 000 usd, start using your brain. It is still unlikely that we will see 200 usd again this year. USD being replaced by bitcoin is not even conceivable, but if bitcoin somehow is adopted, which is highly unlikely, the value will be around 500 usd / btc. Maybe you should starting using your brain for once. If bitcoin is used and adopted globally it will be worth far more than $5000 let alone $500, it's a mathematical certainty if you accept this premise. Even if only 10% of the human population would have $500 worth of bitcoins to work with 1 bitcoin would be valued at about 32,000 usd. And that's only considering a small scale of adoption where our old currencies would still play the dominant role in this world. Title: Re: What price do you see Bitcoins reaching? Post by: Zaih on May 13, 2013, 10:21:07 AM Your OP is slightly confusing on many levels..
But if it were to replace the US dollar?? Then I'd say around a million dollars is reasonable. That's implying $22T worth of currency once we finish mining everything. But lets be serious here... Title: Re: What price do you see Bitcoins reaching? Post by: dbru77 on May 13, 2013, 10:36:43 AM What price do you see Bitcoins reaching? So glad someone finally asked this question! Almost lost hope..people in here seem to care so little about that. ;D The answers to your question will probably be more confusing than clarifying. Title: Re: What price do you see Bitcoins reaching? Post by: naphto on May 13, 2013, 10:38:02 AM Maybe you should starting using your brain for once. If bitcoin is used and adopted globally it will be worth far more than $5000 let alone $500, it's a mathematical certainty if you accept this premise. Even if only 10% of the human population would have $500 worth of bitcoins to work with 1 bitcoin would be valued at about 32,000 usd. And that's only considering a small scale of adoption where our old currencies would still play the dominant role in this world. You are either stupid or american, or maybe both. 10 % of human population is a small scale of adoption? Only 30 % of the human population is connected to internet. 10 % is way over a small scale of adoption... + your calculation is over-evaluated. The number of bitcoins will double up, the value for each one will be half of it. + the real important factor is "how much some average guy is up to put on 1 btc" which is not going to be over 1k usd. You wrongly assumed that bitcoin might/will/could be/should be handling an over-estimated part of the transactions... But it's not. Notwithstanding the fact that 22.4 % of the world population is living with less than 1.25 usd a day ; almost no one will pay 1k usd for something that can disappear or lost its value any day. The most important factor is not which market bitcoin can reach (which will not be even close to what you assumed), but the psychological value of 1 btc. Title: Re: What price do you see Bitcoins reaching? Post by: jeremy on May 13, 2013, 10:39:44 AM 1 million $ sounds about right, I am sure Max Keiser will agree with me. I also think that at a peak of some upcoming bubble it could happen sooner than later.
Title: Re: What price do you see Bitcoins reaching? Post by: uMMcQxCWELNzkt on May 13, 2013, 11:02:27 AM What will happen and what I feel should happen are totally different. I cannot read the minds of many of the idiots I come across on a daily basis so trying to apply logic to events that will be ruled by knee jerk panic reactions is a wasted effort. I believe if we do go up then we will peak higher than $400 at least. People will sell at ~$200 so it depends on (sell to recover costs) vs (quick get sub $300 bitcoins before the rise).
(Written with tablet) Title: Re: What price do you see Bitcoins reaching? Post by: Gordonium on May 13, 2013, 07:10:15 PM Atleast 1000$/BTC.
Title: Re: What price do you see Bitcoins reaching? Post by: Hawker on May 13, 2013, 07:22:33 PM Would be around 500 dollars / btc. I hope you are trolling. I hope this entire thread is trolling. If the U.S. dollar was replaced by Bitcoins the value per Bitcoin (in terms of current purchasing power parity) would be millions. Bitcoin will never be closed to 10 000 usd, start using your brain. It is still unlikely that we will see 200 usd again this year. USD being replaced by bitcoin is not even conceivable, but if bitcoin somehow is adopted, which is highly unlikely, the value will be around 500 usd / btc. Thats fine if Bitcoin were adopted by a tiny town. But if it were adopted by a specific industry, say the oil industry for international transfers, then a price of $10s of 1000s per Bitcoin would be likely. Alternatively, if dictators or billionaires started to use it as a hedge against their wealth being confiscated, the price will go to $10s of 1000s. Hosni Mubarak alone had $70 billion confiscated. The Gadaffi clan had over 10 billion. The Ben Ali clan also had billions confiscated from their Swiss bank accounts. If they had used Bitcoin, the families would still have their money and Bitcoin would be worth over $40,000 each. Title: Re: What price do you see Bitcoins reaching? Post by: Carl Junior on May 13, 2013, 07:23:58 PM If bitcoin continues on his warpath with the current greed, bots, lag and amateurism in many services, price manipulation by big players, you can't be serious about any value above 200$.
But once enough serious businesses start to emerge and provide stable and transparent services, it will all change the market and the price. When and if that time comes, that's the billion dollar question. Title: Re: What price do you see Bitcoins reaching? Post by: fourkey2001 on May 13, 2013, 08:04:30 PM Would be around 500 dollars / btc. I hope you are trolling. I hope this entire thread is trolling. If the U.S. dollar was replaced by Bitcoins the value per Bitcoin (in terms of current purchasing power parity) would be millions. Bitcoin will never be closed to 10 000 usd, start using your brain. It is still unlikely that we will see 200 usd again this year. USD being replaced by bitcoin is not even conceivable, but if bitcoin somehow is adopted, which is highly unlikely, the value will be around 500 usd / btc. Thats fine if Bitcoin were adopted by a tiny town. But if it were adopted by a specific industry, say the oil industry for international transfers, then a price of $10s of 1000s per Bitcoin would be likely. Alternatively, if dictators or billionaires started to use it as a hedge against their wealth being confiscated, the price will go to $10s of 1000s. Hosni Mubarak alone had $70 billion confiscated. The Gadaffi clan had over 10 billion. The Ben Ali clan also had billions confiscated from their Swiss bank accounts. If they had used Bitcoin, the families would still have their money and Bitcoin would be worth over $40,000 each. You are talking nonsense here. Go and read some fundamentals of currency and how they exist. Bitcoin is so fluctuating that if I had 1BTC for $117 and tomorrow that same thing costs $80...? whats going on? Title: Re: What price do you see Bitcoins reaching? Post by: ThatDGuy on May 13, 2013, 08:10:51 PM Would be around 500 dollars / btc. I hope you are trolling. I hope this entire thread is trolling. If the U.S. dollar was replaced by Bitcoins the value per Bitcoin (in terms of current purchasing power parity) would be millions. Bitcoin will never be closed to 10 000 usd, start using your brain. It is still unlikely that we will see 200 usd again this year. USD being replaced by bitcoin is not even conceivable, but if bitcoin somehow is adopted, which is highly unlikely, the value will be around 500 usd / btc. Thats fine if Bitcoin were adopted by a tiny town. But if it were adopted by a specific industry, say the oil industry for international transfers, then a price of $10s of 1000s per Bitcoin would be likely. Alternatively, if dictators or billionaires started to use it as a hedge against their wealth being confiscated, the price will go to $10s of 1000s. Hosni Mubarak alone had $70 billion confiscated. The Gadaffi clan had over 10 billion. The Ben Ali clan also had billions confiscated from their Swiss bank accounts. If they had used Bitcoin, the families would still have their money and Bitcoin would be worth over $40,000 each. You are talking nonsense here. Go and read some fundamentals of currency and how they exist. Bitcoin is so fluctuating that if I had 1BTC for $117 and tomorrow that same thing costs $80...? whats going on? It could fluctuate on orders of magnitude in the other direction over time as well. Bitcoin has proven this multiple times already. It could certainly happen a few more times given how relatively small it still is. Hawker's first post goes back to mid 2011, I've read and learned from a few of them. His fundamentals of how this economy has worked and grown seem pretty sound. Title: Re: What price do you see Bitcoins reaching? Post by: Hawker on May 13, 2013, 08:14:09 PM Would be around 500 dollars / btc. I hope you are trolling. I hope this entire thread is trolling. If the U.S. dollar was replaced by Bitcoins the value per Bitcoin (in terms of current purchasing power parity) would be millions. Bitcoin will never be closed to 10 000 usd, start using your brain. It is still unlikely that we will see 200 usd again this year. USD being replaced by bitcoin is not even conceivable, but if bitcoin somehow is adopted, which is highly unlikely, the value will be around 500 usd / btc. Thats fine if Bitcoin were adopted by a tiny town. But if it were adopted by a specific industry, say the oil industry for international transfers, then a price of $10s of 1000s per Bitcoin would be likely. Alternatively, if dictators or billionaires started to use it as a hedge against their wealth being confiscated, the price will go to $10s of 1000s. Hosni Mubarak alone had $70 billion confiscated. The Gadaffi clan had over 10 billion. The Ben Ali clan also had billions confiscated from their Swiss bank accounts. If they had used Bitcoin, the families would still have their money and Bitcoin would be worth over $40,000 each. You are talking nonsense here. Go and read some fundamentals of currency and how they exist. Bitcoin is so fluctuating that if I had 1BTC for $117 and tomorrow that same thing costs $80...? whats going on? Go read how many of his $70 billion Mubarak has been had confiscated. Then consider if he would have preferred to keep $40 billion. Forget your fundamentals of currency and think about the real value of Bitcoin as a store of value which no government can confiscate. Title: Re: What price do you see Bitcoins reaching? Post by: uMMcQxCWELNzkt on May 13, 2013, 08:22:14 PM I think the media are going to have a field day when they read this topic.
Would be around 500 dollars / btc. I hope you are trolling. I hope this entire thread is trolling. If the U.S. dollar was replaced by Bitcoins the value per Bitcoin (in terms of current purchasing power parity) would be millions. Bitcoin will never be closed to 10 000 usd, start using your brain. It is still unlikely that we will see 200 usd again this year. USD being replaced by bitcoin is not even conceivable, but if bitcoin somehow is adopted, which is highly unlikely, the value will be around 500 usd / btc. Thats fine if Bitcoin were adopted by a tiny town. But if it were adopted by a specific industry, say the oil industry for international transfers, then a price of $10s of 1000s per Bitcoin would be likely. Alternatively, if dictators or billionaires started to use it as a hedge against their wealth being confiscated, the price will go to $10s of 1000s. Hosni Mubarak alone had $70 billion confiscated. The Gadaffi clan had over 10 billion. The Ben Ali clan also had billions confiscated from their Swiss bank accounts. If they had used Bitcoin, the families would still have their money and Bitcoin would be worth over $40,000 each. You are talking nonsense here. Go and read some fundamentals of currency and how they exist. Bitcoin is so fluctuating that if I had 1BTC for $117 and tomorrow that same thing costs $80...? whats going on? Go read how many of his $70 billion Mubarak has been had confiscated. Then consider if he would have preferred to keep $40 billion. Forget your fundamentals of currency and think about the real value of Bitcoin as a store of value which no government can confiscate. |