Bitcoin Forum

Say BTC hits $10,000 each in 2014 (or 12 x for the year)

What are the chances that it will still have room to grow in 2015 or 2016 by 10-25x? Meaning 10k to 100k in 2015 and 100k to 1 Million in 2016?

2016

If final price is $1m, growth will start slowing down once it reaches around $200,000

Thanks thats what I was looking for.

I worded my question wrong, but yeah thats waht I mean't. When would it start to slow down from exponential growth. thanks

Take a look at this:

https://bitcointalk.org/index.php?topic=366214.0

It is still hard to believe for me that BTC will hit 6 or even 7 figures. There would be too many millionairs out there. Every person who owns 10 BTCs would be a millionair. Probably a million will not be worth a million when this happens?!

And if BTC hits 10K, where is the point to sell? Hold forever and live at home with your mom and dad or pay out one day and live good!? If you own 50 BTCs 10K would be a good point to sell and live... Or at least sell the half or so...

Tenfold increase every year until semi-saturation. That's when half the people you know are using it. Enjoy the ride.

Or it becomes the myspace of cryptocurrencies.  ::)

Currenly there are 25 million millionaires in the world (probably more). Currently only about 75,000 people own 10 BTC or more. Assuming bitcoin hits $100,000, that's 75k new millionaires (if they hold their BTC until then).

Adding 75k millionaires to the 25 million that already exist is nothing!

Right. Think of it from another angle. What if those 25 million millionaires decide to store even a small portion of their investments in Bitcoin? What would that do to the price?

to da moon

Let's get past 800, 900, 1000, 2000, 3000, 4000, 5000 etc and I'll start to believe.

I see it hitting $10,000 and I don't know how long it'd take for it to hit $1,000,000

My conservative estimate is 5-6 fold increase annually. It's $800 per bitcoin at mtgox currently; so, on 12/26/2014, a bitcoin will be trading at $4000-$5000.

If you believe Bitcoin will reach $10,000 by 2016 drop a few mBTC here and double your investment when it does:
http://betsofbitco.in/item?id=1532

biggest risk is that site not existing in 3 years

I'd take that bet if someone made it over on bitbet.us. On that note, we need more no's for this one: http://bitbet.us/bet/672/btc-will-hit-1000-without-dropping-to-100/

judging from what I read on wookieepedia, bitcoins will most likely be about 25 druggats soon... so 2 BTC will get you a T-14 hyperdrive generator

Lol. What? You mean instead of keeping your bitcoin and making a 12 fold increase if it does?

If everything goes well there is no sell point you can live your rich life using BTC only :D

it won't, myspace wasn't a protocol, you can't compare myspace with bitcoin.

you should compare it with TCP/IP, http, UDP, FTP, etc.

it might, eg pow very energy consuming vs nxt, emunie or peerCoin.

also much less features.

Also myspace was a protocol, being a form of information arrangement for receiving and responding to

Much better odds and shorter timeframe here: http://bitbet.us/bet/635/1btc-10-000-usd/

Go on everybody bet on NO because it never could reach that next year right bears?

Really wish I could afford to bet more than 1 btc. Still, a free 13k is nice.

if as many people would use peercoin are any other trashcoin they would need more energy than bitcoin would. Bitcoin (or any SHA256 coin) has highly energy-efficient ASIC miners, and no other coin as ASICs yet (and some are even designed not to allow ASICs, or not have nearly as efficient ASICs, as a 'feature') However ASICs by design are more energy efficient.

a faster confirmation time does not mean that the transactions go faster, as you'd need more confirmations to get the same 'safety' so that's just a joke. Having 'more coins' is also a joke because of infinite divisibility.

Any features that bitcoin doesn't have and altcoins do have can easily by added to the bitcoin protocol. It's easier to upgrade the protocol of bitcoin than it is to migrate millions of bitcoin users, industries, merchant and miners to accept trashcoin 2.3. And once Trashcoin 4.2 comes out they'll have to migrate all over again. It's just not going to happen.

Why did people migrate from myspace to facebook? simply, because they didn't have anything to lose from switching to facebook. But there's much more on the line when switching from bitcoin. Also, the network effect is exactly what caused the collapse of myspace. A lot of people were using facebook, and since a social network is not really much use without friends, they were forced to either join facebook or be left in a social desert.

The same is basically true for bitcoin and trashcoins and money in general. If tomorrow everyone would decide they no longer want to use dollars, the dollar would become worthless. Currency only holds value because you can buy stuff from it from other people. If enough people accept a currency than that currency has value. So, the more people that recognize any currency, including bitcoin or trashcoin or fiat, the more value the currency has.

Since bitcoin has the biggest network, and there's no altcoin that can do things that bitcoin can't do, bitcoin will stay. And the longer bitcoin is in this position the stronger the network effect gets, and the harder it will be to dethrone bitcoin.

Bitcoin is far from mainstream, Bitcoin will find its price when it cannot grow in userbase anymore. 2016 seems too early for me, but I dont think 10x yearly price increase is sustainable

Are we forgetting about mBTC?  The price at some point will no longer be displayed for just 1 BTC.  Then the process will start all over.  People will be excited to pay $10 for 1 mBTC.  The price will rise to $100 per mBTC then $1000 and so on.  People will be thrilled with the returns on their investments even at these stages.  I do not see why it is not sustainable?

I'm not sure we will hit that in 2014, but we might, so I bet yes, the ratio is good. Although I would expect all the naysayers jumping in for the free money, don't see much of that. Lots of talk, little walk. Cmon bears, outrageous price prediction, I even counted the digits for you - it's 5 - by end of 2014! Not going to happen right?

even if you think it will hit $10,000 in 2014 (which I am hoping for, but maybe not so soon), you might want to bet against that happening as a hedge...

For me it's a much simpler question: How sure of my own ability to analyze the tech, the economy and politics am I? I have to put my money where my mouth is, for my own sake. Would be really nice if the bears did the same, but what can you expect.

What does this mean, exactly?

The bear part? There are a couple bets running over at bitbet and BEARS ARE NOT BETTING  >:(. If it's the other part, then exactly what it says. This whole thing is pointless if you are not willing to trust yourself.