Bitcoin Forum

Back in 2013 everyone was speculating on the same range, they truly believed this, and this range was in the tens of thousands! , even 1 million per bitcoin!.
I was seeing only news like this one : http://falkvinge.net/2013/03/06/the-target-value-for-bitcoin-is-not-some-50-or-100-it-is-100000-to-1000000/


What have happened now? is the spirit still alive or it's just sex now?.

whoever said bitcoin will be worth $100k on one day is nothing more than a dreamer living in a fantasy world. predictions up to $5K are also high, but not that unreasonable. $100k is beyond insane.

Ok so then Wences Casares, Roger Ver, Erik Vorhees,Winklevoss boys, the world economic forum and many others are all dreamers and live in a fantasy world.You know what? I live there too. ;D ;)

This. A lot of people have gone from delusional dreamers to pessimists only because they didn't become millionaires in 2 years. Well guess what, if Bitcoin is a success it will reach those high prices, it just may take more time, but it's unavoidable to see 1 million per coin if we see a decent % of fiat and other assets go into Bitcoin in the future, just do the math.

The names you've mentioned are selling you the Brooklyn Bridge. You're the guy buying it.
Big difference.

there is no harm in imagining
maybe it could happen, but if it is only up to $ 5k we must also be thankful  ;D

Wow to this comment. $1 million is fiat currency backed by more fiat currency it doesn't have any real value value all it has is backing from government bodies forcing you to buy into their scheme in which they can buy assets for a cheaper price than they are worth.

1 BTC could easily be $1,000,000 will in the next few years because If you can understand the value of the foreign exchange. Foreign Exchange is $60 Trillion (All money world wide) if BTC became only 10% it would accumulate to around $287000 (with 21,000,000 Bitcoins in the world ) so that means if bitcoin became 50% it would be $1,000,000 roughly speaking.

Its Simple Mathematics. Global Debt is Growing! Fiat value is decreasing! China is dumping their reserve for both gold and bitcoins everyday. The UK are creating their own version of bitcoin and the blockchain to replace the GBP. I think its quite disrespectful to value bitcoin and the blockchain so low. BTCBTCBTCBTCBTCBTCBTC

If anyone disagrees I would like them to see by the end of 2016 the price of bitcoin  (It won't be $100,000 but it won't be anywhere near where it is now)

In reality, btc is at 240 as of today, NOT $5k. You can't and shouldn't be thankful.

In reality btc was 5$ in 2012, so today I am thankful.   If in the future it goes to 5k, I will also be thankful.

Also, JJG is this your alt account?

$1000 per btc was 'beyond insane' when it hadn't even reached dollar parity.  One thing I have learned is that anything is possible.

Why do you think I am JJG?

You are absolutely right, anything is possible, including the drop to 0.

Yes, there is a non-zero chance that BTC will be valued at less than a dollar.  However, considering most dead alt coins are still worth fractions of a penny I don't see the probability of it going to '0' being very significant.

And you needed an alt account to tell me that?! :D
You can talk and believe whatever you want.So do I.This is a free world.
Bitcoin will grow in value a lot in the next 10-20 years if it succeeds.I'm convinced about that.  ;D
However if it really should fail it was worth a try and I won't regret it. :)

100k usd?

There are only two reasons I could think of that could make this thing possible: hyperinflation of USD or a super pump on bitcoin's prices. It can be achieved naturally, only if people would give attention to bitcoin and pour money to it. Also, if more and more businesses establish their service around bitcoin, that would also boost the price upwards.

They have invested in Bitcoin. It is not like their holdings just got generated one day.
So yes, I would say that their faith in Bitcoin is not just mere pretense.

Yeah but hyperinflation fmusd wont be real 100k value :)

Then you believe it is going to zero.. it is really that simple.

Bitcoin becomes a store of wealth or it dies.  You think BTC will be able to hold a hash rate in 12 years with the price the same and the miners all mining in the negatives...




It's zero or hero that is it. 

There's too much emphasis on the price, and it is the least interesting part about bitcoin honestly.

We need everybody involved in bitcoin right now to do their part in getting everybody they know to start using Bitcoin too.

As of now, with the CFTC ruling Bitcoin as a digital commodity, its uses as a currency are feigning.

I was never comfortable using Bitcoin as a currency anyway, nobody likes to see their wealth swing wildly.

Zero or hero really describes the situation here. What we have is an all or nothing situation. If Bitcoin is a success it will translate in huge price, there is no escape from this. Satoshi said so himself years ago. For the system to function in the future as demand raises, we need price that goes beyond 4 figures, I don't see why people is being so negative lately and putting limits on themselves. If you aren't here for the long term and you are limiting your expectations then what are you doing?

Hey I'll take that, it won't make me rich but it'd make me very damn happy that I invested in bitcoin. I'm not being greedy so 5,000 USD bitcoins is good enough to make me happy.

I think that's hard to keep that spirit alive when we are in the soon in the soon to be 2 year downtrend.
I think that even the most optimistic out there would hardly give any statements like that anymore.

What we need is another spark, another run and don't worry, you will start hearing again stuff like that.

Any spare money that you can invest to make a 2000% ROI is an investment you should do ;)  If you really think 5,000 is possible, invest all you have now and you might actually be quite rich afterwards ;)

100k is indeed a little far fetched, but that was also how 1k looked from sub 1 USD prices.

Focus should shift away from price only,  but I guess it is just human nature, especially when we are downtrending/stagnant for a long time.

I'm not convinced that this is sound advice. Personally, I think USD5000 is possible (I think much higher is possible, I don't think USD 100k is far-fetched) but it's possible - not guaranteed. The advice I'd give is "invest only what you can afford to lose".

no. i don't think it's going to zero. i prefer to have a realistic look at the future of bitcoin. don't you also think $100K per coin isn't way too high? my ultimate prediction for bitcoin is max $5000 per coin.

Why USD5000? I'm familiar with - and tend to agree with - the argument for "zero-or-hero". Anything in between just seems somewhat arbitrary.

$5K puts BTC a market cap of 105B..  That's not very big relative to silver and nothing compared to gold.

if bitcoin ever truly succeeds the value has to be in the range of 100,000 to several millions.


The real question is, to what extend will bitcoin fail or succeed?


Also, to put things in perspective, with 21000000 bitcoins (note we are not currently on 21 million and won't be for a long time) we compare to companies as follows:

to have the market cap of Apple (worth $724,773,100,000) Bitcoin would need to be $34,000 per bitcoin
for google, (worth $345,849,200,000) bitcoin would need to be $16,469 per bitcoin



Right now, if you wanted to buy all coins mined so far for the current market price, it would only cost you about 3.6 billion USD, a single rich dude like warren buffet or bill gates could buy that in a heartbeat. Consider that, a single person could buy all bitcoins if everyone would be stupid enough to sell at the current price, and they wouldn't even need to spend 5% of their total networth. Even mark zuckerburg has 10 times that amount of money.

Bitcoin is TINY right now.

Bitcoin can theoretically be worth 100k or more.  The math is there.  The technology is there.
But, will the world embrace it is unknown.  Like Satoshi said, its best to have a little bit
of coin just in case. 

If "it" does happen, you can bet that it will happen pretty fast.  Markets behave in such
a way that keep people out.  There will be bubbles and crashes.

It may bubble back to up to $1000, crash to $500, then go to $5000...
Then crash to $2000.

This will scare people out of just chasing the market. 

Then, if say, there was a massive bull run up to 100k, most people
would be too scared to buy, as it would seem "too high" at every price.

That's how these things go...

Just have some BTC and never sell it.  If it never explodes in value,
it was still a fun experiment.

Max we will seis 1k again imo

No it is NOT the least interesting part of bitcoin.... acting like the price does not matter is not doing any favors to the bitcoin community. If you look at a chart for the peak google searches on bitcoin, or when the most number of wallets were opened, it all happened during bullish rallies. That's how bitcoin gets in the spotlight, it looks attractive for people to get on board, more people are interested when the price goes up, and more people are enthusiastic about bitcoin when their wealth goes up.

Now, after a 2 year bear market, there is nothing but pessimism... newcomers will not even touch bitcoin when all it has done for the last 2 years is lose value. We really need a huge price rally for the sake of bitcoin's success


No one likes to see their wealth just goes down and STAYS down

Some coins  might have gone somewhere and stays there. Because prices may fall down and rise up again everything just unpredictable.

$5k doesn't make any sense...  It's way low.. only nerds use it and it dies or everyone starts using it as a store of wealth.

1/20 millionth  of all the gold on the planet is worth $550 000...  $100k would be 1/5th the market cap of gold..
 

IMO a hope of a max of $5k is to risky to keep in bitcoin.. oil is a great buy right now.

A 5k coin is impressive but it would be in something of a hinterland at that price level, neither a failure nor world beater. I think it either swallows the world or is abandoned. The way the block reward is set up is a little bit like an inbuilt time bomb in that aspect. 

Good grief, you have the battered bitcoin syndrome and have lost sight of what the bigger picture is going to bring. I just hope you don't sell when we hit 1k and watch the rest of us go baller status.

He will. Sayonara.

Than you have the wrong idea of wealth.

I wouldn't go that far, but yeah I think it will be big.  BTC could be $100k a coin and coexist with national currencies.

I think mathematical formulas and speculations are fine/fun but I truly started to understand the value of something like bitcoin after reading this blog entry.

http://szabo.best.vwh.net/shell.html (http://szabo.best.vwh.net/shell.html)

If you interested in the potential value of BTC in the future then this is a must read.