Bitcoin Forum

What major events would have to occur for bitcoin to go back up to $1000 per? A government accepting it as a form of currency? A big business such as apple accepting it as a payment? Better and positive publicity? Lets get some ideas going...

I don't think anything big needs to happen, it will get there this year baring more serious bad news.

But something big like Wall Street investing would speed the process up.

Couldn't wall street "investing" put a bad light on bitcoin because it makes it seem more as an investment than a currency?

How about a major bank failure and subsequent bail-in.

Yikesy

Serious taxation of wealthy bank accounts in bailed countries would drive the rich to seek elsewhere to store value... fiscal paradise, gold, bitcoin, etc...
Just any large event that causes a demand surge will drive the price up...

From a rich government they wont be accepting it as a for of currency but may be if swiss accepting it as a currency that will be really a big deal

if google announces that it accepts bitcoin to pay for ads.
if ebay implements an escrow system and allows merchants to accept bitcoin for products.
if dx.com and/or alibaba.com starts accepting bitcoins for products.
if any developed nation accepts bitcoin to pay taxes.
if any major telecom/utilities company allows paying bills with bitcoin.
basically if any large franchise accepts bitcoin.
if the treasuries bubble pops, the fed starts printing fiat even faster and causes a hyperinflation.
 

Or Walmart could start accepting bitcoin.. CVS maybe Meijer.. Some simple companies like that would be good for Bitcoin as well.

The vast majority of people following/watching BTC markets are long-term Bullish, and the fundamentals are strong too.
The "major events" are already happening.
The BTC economy is growing much faster than in 2010/2011/2012, so a trip back to $1,000 is just a question of when.

obviously , we will reach $1000,so long as China government announces accepting bitcoin and make sure exchanges will not be cracked down again.
and,you guys know , it's Chinese who pushed the price above $1,000
And also the Chinese who pushed the price down to $340
Chinese bitcoin community is strong,and Chinese has the key.

If we saw major adoption for it as a payment option - that would drive up demand from consumers (and bring in new blood) which would lead to an increase in price. It should eventually appreciate seeing as how we are regularly getting more and more people willing to buy it.

All the US has to do is keep borrowing money from the Chinese at the rate of $50 Billion a day and keep running the US economy into the toilet on their blood dollars and bitcoin only needs to pick up the pieces.

If we dont get anymore bad news like mtgox, it should get to 1k easily

6.5billion cap ($500 a coin) is statistically saying that every person in the world as put $1 towards bitcoin

or

0.1% of the world has put just one months wage into bitcoin $1000

i prefer the use of the 0.1% only investing $1000 each

now imagine that either 0.2% adopted bitcoin with only a month of salary. laving their multiple thousands of savings as fiat.. then btc will easily rise.

or that the same 0.1% decided to put in $2000 each.

or. if you like maths.

if everyone invested just $100 a month (10% of salary) each month. every 10months bitcoin will rise by $500, meaning in 1 year it will be $1500 each. and in 18 months $2000 and in 2 years $2500..

and that is just playing with small numbers. now imagine the big investers throwing thousands at bitcoin each week/month.

the only set back that i can see is miners. many people are sing fiat to buy rigs and then cash out bitcoin to pay back electricity bills. the mining manufacturers are cashing out to pay chip companies and other suppliers and all the employee wages. which means all of this mining power is not to gain bitcoin hoards. but to invst into fiat companies like electronic components and utility companies.

one miners realise that they are not bitcoin investors. but fiat investers.. the equilibrium of people buying bitcoin to hoard will rise and the selling bitcoin to pay fiat bills will shrink

https://i.imgur.com/O8cjM.gif

I like your train of thought

Jesus. You really know your stuff. Thank you for your input. I can walk awau feeling as if I have learned something about how bitcoin could work xD

I think nothing that important has to happen. It's enough if people get tired of the China drama plus a bit more media coverage.

Many weak hands have left the market already. Just a matter of time before depression will fade and euphoria will set in again.

ya.ya.yo!

I enjoyed the year of 2013 better. Much more was happening in the news, and the price was fluctuating greatly. Good times. Now, for me at least, bitcoin is getting dull (price fluctuation and interest-wise).

Time.

We need a stable BTC exchange in the NYC area, or anywhere in the U.S. For that matter. We need stability first before another attempt at the 1k mark.

Not major event is required for 1000. The FUD just put the price low, once it stops, people will realize it was just FUD and there will be higher demand

actually no, he doesn't

first of all, a $1000/month wage may be normal in the USA and Western Europe And Japan. But it's outrageous anywhere else. Yes, even in eastern Europe and China. So even though 0.1% of the world paying $1000 euro per month may look like it's just a small amount of people putting aside a small amount of money, that's not true at all. $1000 is a lot of money to a lot of people.

Even in the wealthy countries, there are also poor people. People who simply can't afford $1000, or even $100. Especially not monthly.

In fact, even people who do have a decent job live above their income limit. It's considered normal to spend more money per month than you receive, by living on credit card debt. It doesn't matter if your annual income is $10.000 or $100.000, it's very common to take loans to buy a house slightly bigger then you can afford, a car slightly more expensive than you can afford, etc.

This leaves them with no money to safe up (which in an inflationary currency system may actually be the smart thing to do, because of inflation your relative debt will decrease, and if you have savings their value would only decrease). However the better thing to do would be what most (almost all) rich people do. Is live a lifestyle you can EASILY afford (no luxury you can't afford, no unnecessary debts, etc. note a debt is not always bad if it's a profitable investment) and put aside a few dollars a month in investments or hard assets such as gold. Eventually the cash will build up and you'll eventually even have enough to quit your job and still live the lifestyle you want.

It's not necessarily that poor people have less income, it's just the way they MANAGE their budget that makes/keeps them poor. And also the illusion that working hard will make you rich. Working hard only makes your 'boss' rich. (And the fact that you can even think of other human beings as your boss is disgusting in itself, dogs have bosses, people don't, by calling someone your boss you're essentially a dog).


I'm not saying though that bitcoin will not take of, it will. But it will be a combination of small investments from poor people (probably just a few µBTC) mostly for remittances at first, backed up by a few wealthy investors who buy several BTC and a broad range in between.

I'd say educate your friends and family on how to manage their wealth/income and advice them to not life a lifestyle they can't afford, and instead put aside a couple of bucks (even if it's just $10 a month) in bitcoins or gold or silver or some other investment/asset class. So that in a couple of years they can life the lifestyle they want.

Below as an image that describes the cycle of income of an average western person. Don't be one of them, unless you enjoy being a slave to society all your live.
http://www.state.gov/cms_images/summit_16.jpg

also, if you want some free bitcoins daily, check my signature. It's not much, but it's something to start you of, and especially your friends who do not yet have bitcoins.


oh and besides, a 'market cap' of for example $5 billion does not mean that $5 billion was actually invested in bitcoin. For example if someone buys only 0.01 bitcoin for $200 that's a $200 dollar investment, but since that would put the bitcoin value at $20,000 the bitcoin market cap would be 21,000,000*20,000 = $420,000,000,000 while only $200 was invested in it. the 'market cap' is not really all that useful by itself.

$1000+ is likely just a matter of matter of several months or less.