Bitcoin Forum

Get ready.

30/10/2015 Update - Get ready for the race, it's going to be fun!

02/11/2015 Update - Looking just like anticipated :)

Wow, that's a fairly liberal estimate. What makes you say that? I'd be surprised if it hits $310.

I can't see it hitting $1000 again for a year or two at least.

I just feel it comming

I think it has a chance actually all depends if this is infact the bubble move.  Would be pretty sick to see though i think the whole world would be sent a little crazy this time.

Two simple things:
1) You need to move your thread to the right section (https://bitcointalk.org/index.php?board=57.0).
2) Feelings are wrong most of the time.

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I'd be happy to sell you my BTC for $2k per piece right now. It is a great offer if you trust your feeling.

1). Ok i cant move it myself.
2). Pessimist?

i think there is some consensus that it will double sometime by late july ( around the halving). as with the ltc halving......it will probably over shoot mark and then come down to. I wouldn't be surprised to see  $1,200 - $1500.  If FOMO is strong maybe more... :)

If we break new ATHs dont you think we would go way higher at that point? since everyone will be in profit. 

hmm, great idea.

when all these noobs make speculation posts.. we should spam them with offers.. if they are really going to put their neck on the line to make a speculation then they also need to put their money where their mouth is and be willing to buy bitcoin at slightly lower than their speculation.. afterall its no risk to them.. they will get returns when their speculated price hits..

if they decline offers. then they themselves do no believe their own hype and thus their topic should get deleted

Why in a world would I buy your bitcoins at $2000 now, believing in my speculation. Where as I am not as rich at the moment and can buy them at 300$ per BTC. So where is your logic in that?.

I really hope not.  :-\ The growth we see now looks consistent with the growth of BTC. If it jumps to $2k then we are in another speculative bubble that WILL pop and bring us back to reality. Then come the endless complaints about how bitcoin "scammed me".

i would say realist, because we have seen this exact movements of the market many times, yet people still fall each time for it, like it is the new moon run up

i'm all for believing this, but right now the only thing that can set off the skyrocketing, is only the halving

    
With an available supply of 14,771,150 BTC it takes $4,351,964,840 to yield a price of $ 294.63. To move the price to $8k where are all of these extra billions coming from. Tens of extra billions. You know something we don't?

Bitcoin is over-pumped as it is.

ok, so buy them..

oh wait let me guess you only have $20 of bitcoin and want to hype up the speculation to try turning your $20 into $400...

yea.. its noobs like you that just shout out a random number. never list atleast 5 reasons why. and then backs out of a chance to even make profit based on their own 'tips'

the point of trying to sell at $2k to you, is that if you truly beleive in your speculation then any price below your speculation would be deemed as a profitable offer. and by you taking up the offer shows you are putting your own fnds on the line to back up your speculation..

so go on atleast buy 0.01btc for $20.. back up what you have to say..
show you stand by your speculation

Antonopoulos has said in one of his interviews that we will see another 3 - 4 bubbles until Bitcoin doesn't get mass adopted. It's just how these new thing grow I guess. It's hard to prevent bubbles when you have big number of people rushing to invest into a single market.

I also believe that this will happen and this doesn't seem as a problem to me. As long as we are growing and technology is being adopted by the masses.

We if we keep at the pace of this so-called "natural" aka slow growth it will take 20 years just for Bitcoin to grow to the marketcap of a very small corporation. This is supposed to be world changing technology we're talking about, why do people talk it down like it's worth less than a 2nd rate fast food joint?

i'll be just as happy if it gets back to $500 range

1. Im not investing into any sort of "Charity Beg" operations.
2. I do actually know for a fact that it will hit, I know something noone knows yet. And yes, 5-7k$ within 3-4 weeks.
3. If you think this is bs, lets make a bet (as you said, put your money where your mouth is)
4. How can you assume that I am poor, that is a poor judgement from your side, obviously i'm not rich but c'mon.

the marginal cost of producing bitcoin back in march was estimated to be about $247...given difficulty of 57,541,669,370.......tomorrow difficulty will 63,413,802,702 up around 10% or so....follows that marginal cost to produce would be around $270..... so not sure how much overpumped the price is.

I do agree it looks insurmountable...the amount of capital to get btc to 8k

 :D

You don't actually believe this is how it works do you?

Heh, Zuckerberg wishes Facebook had 103 billion real dollars flowing into it.

Yes, that is how it works. Bitcoins market capitalization, which is around $4.3 billion is the available supply multiplied by the price. Unless I'm mistaken in which case fine, point out why.

So if if I am reading your post correctly, you say the price of btc will be $5,000 usd or more within the next 4 weeks. And that your willing to bet that that will occur. Dang count me in. Find a trusted escrow and name an amount.

That's a stupid bet to make BTCFarm.

Tens of extra billions are dimes for world economy when you realise the significance of the most financially disruptive and revolutionary technology we have, after Internet. Bitcoin @ 5-6K USD, easily. And fairly soon, I give it most 1 year timeframe.

Could I ask where, specifically, tens of extra billions of capital are going to come from though. Tbh I don't think such sums are ever chump change.

May I propose...

http://www.wsj.com/articles/in-chinas-alleyways-underground-banks-move-money-1445911877

It's impossible that btc will reach 5 or 8 thousands. I hope it won't fall down till 20$ or so :/

Bitcoin is a bit like the stock market, a $750 billion dollar company like Apple hasn't literally had 750 billion actual dollars invested in it, rather the market "thinks" its worth that. If everyone suddenly decided to jump out of Apple stock tomorrow there wouldn't be 750 billion in money waiting for everyone to get out, many would lose their fortunes overnight.

If one whale came in and bought up $1 billion worth of Bitcoins off the sale walls tonight it would probably skyrocket to a $10-25 billion marketcap overnight if not higher.

Btw the average daily volume for Forex is $5.29 TRILLION so yes in the grand scheme of things a few billion is chump change.

One billion dollars of deranged spending on the BTC market would push the market cap way, way higher than that.

What's wrong with that?

Why would anyone in their right mind pay 10x more just to prove their point to some random people online?

If you feel it, bet on it.

Have fun losing all the money you bet, your guessing skills are pretty bad.

You can't blame someone, anyone on here, for making a feel good post that we're on a major move up into magicland. However, doubling down and looking to bet on such a feeling is where the well deserved wrath has come from. Keep buying and holding and may your dreams come true.

Ok lets do it, how about we put 5BTC each into escrow ? Let me know :)

The US treasury bonds are over 17 trillon. 1% of that move into bitcoin, the bitcoin price will be much higher than £1 million.

not impossible, but it require time

as i said, i'm more interested in a stable high price, than a simply new unsubstantial ath

Ebay market cap is 28 billion and what do they have appart from network effect? Seems like a software platform that got popular and is now getting serious competition.

It is the network effect like Facebook. It has nothing but the users. Users will move to another platform if there is a scandal related to Facebook.

It requires a heck of a lot time, people don't seem to understand that. It may take 10 years or longer. There are people thinking if I buy now at $300 I will sell it for $10,000 just after the halving  :D :D

if the halving has the same effect on btc price  as it recently did to ltc, wouldn't we expect an approximate doubling by 2016. Then another 2 -3 doublings in next 10-12 years.  with nothing else effecting growth..just that  could possibly push price to 2,400 - 4,800. I would happily wait that long...as they say ..."time flies when your halving fun"

Maybe after 5 years? or maybe more longer.
I think that a good amount of people are satisfied with the current price.
But we want to see the price much more higher than now :), it really takes too much time and many halving period to reach 5k-8k.

well the only thing i can figure out its we see a horizont of 500$ for next year but continuose rising its very impossible there will be attacks

You have an activity level that high and you haven't figured out that market cap is a borderline meaningless measure?

The price is set by a few tens of thousands of coins and a few tens of millions of dollars. On Bitstamp a $5.9 million dollar buy would push the price to $2700. Congratulations you now have a 16 billion dollar market cap at a bargain price.

A $4.3 billion dollar buy would probably push the price to $500,000 and then infinity as I doubt anyone's set a high enough price and there wouldn't be any coins left.

Before we set our aims so high, let's just wait and see what would happen in the following weeks to come. I wouldn't be surprised if this pulls back once again. Hopefully the effect is caused by the expected halving that is going to take place around mid of next year.

Ssshhhhh!!!
Don't say that ever again!
This time we will break the $300 barrier permanent!Have a bit trust and think positive. ;)

We are positive, just realistic no super crazy bull mode lol.

IMO we go back to 220-240 one more time.  Sub $200 will never be seen again.

That $2700 price is not sustainable. If the price gets higher, more seller will appear to sell at higher price.

Don't use ltc as an example - ltc has nothing to do with this. We already have an example of what will happen based on the previous block reward halving. ie. Current Price * 40. Or roughly 11k/BTC

Even if it is x20, that would be $6k/btc. I think it is very difficult to rise that much. The market capitalization is much larger than before. We need more fresh money to push the price higher.

we're going to get fresh money, leveraged longs, less selling and a block reward halving all at the same time.

I know this. That's why those who moan about VC money going into companies rather than directly buying coins are deluded. There'd be a giant spike and then it would all come crashing down again.

Wow 5k - 8k? Must be a bitcoin craze, by then I can afford to buy the script I've been meaning to buy since then. I could pay my mortage too :)
I wonder what can make the price go skyrocket, could it be the Chinese?

The idea this is here to stay might be enough.

china and especially wallstreet. if you have wall street guys investing in bitcoin, then we're going to see a lot fireworks the comming years. just make sure you keep holding your coins.

I don't know witch price bitcoin will have in 2 years or 5 years, could be 500, 3000. But i think that in long time bitcoin is a good inversion. There are risks, but all the inversions have risks.

It isn't impossible, but I think it would require loads of time before we get there: with massive adaption and full support from the merchants and consumers too. For now, let's focus on the realistic goals such as $320 and somewhere near it. ;)

FAIL MATH IS FAIL,

You have no idea what the actual available supply is.

14,771,150 BTC is the number of btc in the world, the amount actually for sale is unknown.  If 14,771,000 btc is being held by people that refuse to sell below $5k the available supply is 150.

that's actually a good, thing, because more sellers, mean more buyers, which mean more consolidation at that point of the price

you need plenty of price correction, before you can sustain higher value, you can't simply rise to 10k(for example) and think it can remain there

Good point, but the fudders dont understand it..

do the maths.

if BTC represent 1% of the global PIB, it's value rise to 100 000 USD per 1 BTC.

and, trust me, if people awake ... they don't represent 1% of the global PIB.

why the horse car have fallen ?
because of the car.

Outside of the french world PIB is GDP  ;)

I love this. It reminds me of the many people who said "It is IMPOSSIBLE for bitcoins to ever be worth $1".

We can use the US treasury bonds as an example. The new ceiling is just below 20 trillion. If 1% of the money enters bitcoin, that is 200 billion. Divided that by 16 million bitcoin (supply in a few years), that is $12.5k/bitcoin.

well i hope you are right it might reach such high prices though i think we will need to wait for a few more years to achieve such a milestone but sooner or later it will happen

I remember when it first hit $1, even. And then as it fell back under $1, too. Artforz flipping about 20k bitcoins within the span of 15 minutes as it was falling and laughing at whoever bought at the higher price and sold at the lower price while in IRC.

The bigger traders don't broadcast their trades in BTC nowadays. Almost like they learned a lesson.

I'm glad I'm not the only one who thinks this.

Although it will probably not go straight there from $300, it will probably be a "double bubble" like we have seen before.

Double bubble. Care to explain that a bit so I know what is coming  :D

Mass hysteria as in cats and dogs living together a'la Venkman style?
https://s-media-cache-ak0.pinimg.com/236x/25/1d/c2/251dc2257a23df6711e0fc205c6ed533.jpg

Please realize that the last bubble was pure and simple manipulation, MTgox together with some serious hedgefunds (read capital) exploded the price.

Don't get me wrong, I do think bitcoin should be worth alot more than this dump price, yet I'm not so optimistic about the timeframe. I sure hope so, but I dont think its likely that we'll see a double bubble, 300/400 woould be more realistic I think :)

Wasn't the willy bot pretty much responsible for the spike in prices?  It was on Gox but have they been able to figure out who was responsible getting it on there? Seems like it had to be an inside job.

Japanese authorities are probably so happy grilling karpales about the hookers they could care less about a willy bot.

So no to double bubble. Alright no needless worrying over nothing.

the btc-market do not contains 14,771,150 BTC. Maybe the amount of total btc in circulation worldwide is near to this amount.. So with ~4 billion USD BTC-investment BTC will go up like factor x100 or x1000 easily because market-liquidity is very limited.

And those people who write BTC will never reach X k USD etc. Everything is possible in financial market. Also the cryptocurrencies market.  i think this people must read more mathematical lecture to learn financial economic and market-movement and basic stochiastic.

In reality it only need small changes for market to BTC reach at least 10.000 USD per coin. i know many scenarios where this WILL happen. one example: say 21 million people suddenly become interested in BTC and want to hold min. 1 BTC for long-term investment: I think then this will be the last time BTC being worth less than a house thousand dollar.


NOTICE: This post represents my own opinion and thoughts about the speculation on BTC price. I do not advice anybody to take this information as base for financial investment decisions.

Yes total coins in circulation is much lesser than total mined coins. So, the new money flow into bitcoin investments may take bitcoin prices to new heights. I too strongly believe that bitcoin price will reach $10k levels so soon.

It sure played a huge role in the rise, but it was also maintained by buyers who supported the bot. Without people mass buying, the bot would've been dumped to the ground. This shows what effect a price rise can have on people with no clear sell goals. They start thinking to the moon and beyond and keep holding, thus supporting the crazy price increase.

The bot may be partially responsible, but peoples greediness and unwillingness to part at 2x profit was the major reason for it actually going as high as it did.

I agree, but it still will be only 20,000 Rubles...
Get out of this forum and study current global geopolitical events in a language other than English.
The world is waking up to the $ scam, and the savvy minded are looking for somewhere new to put those $'s

http://www.reactiongifs.com/r/2013/05/Ron-Paul_Its-Happening1.gif

I'm looking at October 2013 right now, it's possible history may repeat and we could have a two year moon cycle. This time around there is enough infrastructure to keep things aloft for longer, so we'll see  ;D

Well let's be honest, if I wanted to make a 2x profit i'd go back to selling junk on ebay. I'm here for the 100x-200x potential profit in the long-run. People can call it greed, I just call it investing.

$5k? Maybe after few years..
Bitcoin price have a surprising consistent increase but the risk of a big collapse is still present..
Let's only hope btc continues to be green everyday.

Based on what? Is there any factual explanation behind this claim or is this just another wild guess? If it s just a guess, why $5k, guess $50k, dream big. :))

I wouldn't call it greed at all. Just smart investing. Who in their right minds wouldn't grab a chance to make 100-200x profit, you would be silly not to. Days of selling on ebay and making anything is far off in the past because of high delivery costs and all those extra seller fees. Not one of those issues when putting into a cryptocurrency.

Bingo, the available supply available to purchase is much smaller than 14M coins.

After the 2013 run, we have sat for 2 years around the $200-$400 range. Everyone that bought early coins who was going to sell some has sold already.

The only remaining supply of coins is:
1) Mining rewards which produce about $1M in coins per day at $300/BTC
2) Traders "selling high" at $300 waiting to buy back lower.

The thing about these exponential runs is at some point all of the traders have sold their stashes and have no remaining supply to provide the market. This is what happened in early 2013 as we went through $20, everyone trading was caught watching the price launch with no coins left. Only option was to buy back higher at a massive loss or watch.

100x would be $30,000. That should be achievable when 1% of US treasury money come into back bitcoin and bitcoin is used for paying salary.

exactly 2x or even 10x is not going to drastically change my live.

100x might have a bit of an impact, but even than I'd probably hold most of it (at least what I don't need).

Bitcoin is likely to go up forever, because it's deflationary in nature. This is only going to get better with each halving.

x100 wont change your life? How much did you invest in Bitcoin? $10?

yeah it is but we will need to wait for a couple of more years in order to reach this goal lets hope you are right

yes it will hit this huge amount of money worth though i dont know how much time is left to reach it maybe a year or few

can you read?

I invested much more than $10, but i can't afford thousands and thousands of dollars, i'm just a student after all.

But even $100.000 isn't a life-changing amount, sure, it's nice to have, but it's not like you can stop working after having $100.000 And wasting it on a car/house/holiday is stupid.

I might invest it to start a company or something, and in that way it might be lifechanging, but even than investing all of it would be risky. So i'd probably only risk a small portion of it.

Maybe after 2 halving periods this price can be reached.
For the moment this is simple impossible, because it is just too high the speculation.
There aren't much coin left in the market and less to be mined, if a country implements then the price will reach even 10k

$1M might change my life a bit. I will use half of that to improve my quality and invest the rest. Maybe 25% in bitcoin, and 25% in stocks and shares.

$1M ? Are you serious

you are right it will reach such price we just need to wait

he has 0.35 BTC LOL

Bitcoin will be at $ 5k but not before halving to happen but till then there will be a steady increase in price and at about 500 $ is fair for me.I also will like to see your prediction to come true.

I think $5000 is more possible and will get this price range in first quarter of next year so that i am also waiting to get this range.

Guess It depends on where you live but for the USA, 1M can be A life changing amount, and 100k generally isn't although its still a nIce chunk of change.

I wasn't able to track down the article but I think its kind of recent...maybe in Business Week. Talks about a company that is charging around 1.3% for world wide remittances when the world bank estimates that average fees from banks and couriers are around 8%. Also world bank estimates world wide remittance amount to about 583 billion per year. Didn't mention bitcoin. 

What a helpful post, thanks for that.  ::)

If 10% of the $583 billion is represented in bitcoin, that is about $3,800 per bitcoin. Bitcoin can also be use in online purchase.

Seriously in what 3rd world country do you live that you can get anywhere with less than 1 million dollars?

Even $1,000,000 isn't a lot of money anymore these days.

That's a figure that deserves a little more respect than you're giving it. The majority of people wherever they are will never, ever have access to anywhere near that amount in their entire lives.

In my own first world country that would be enough to buy a modest wee house and 2-3 others to provide a low income.

I live on the south coast in the uk and this is exactly what I'd be doing with that amount

lol...its not a lot.... just ask the Donald....life wasn't so easy for him. He had to start with only $1,000,000 loan from his dad. That he had to pay back. The horror.
seriously though, 1 million is an astounding amount of money anywhere even in USA. just interest alone on that amount would give you income greater than over 60% of the us population....just the interest.

I am shocked people actually believe this line of reasoning. Your thinking isn't close to being correct. It assumes that every coins is being sold every second of ever day for the market price, which isn't even close to being correct. Shockingly bad reasoning.

Market cap is only determined by total coins time current price, regardless of how many coins were sold at the moment.

Sure if someone could buy every coin at $1000 right now, then the market cap is 14 million+ times a thousand. However, this never happens, ever.

The market cap is also NOT 14 million, as some say 4 million coins are lost, of the 10 remaining, 6 million belong to long term holders, of the then 4 million remaining, 3 million belong to techno short term geeks that hold, and 1 million get traded in a day. If those 1 million went for $1000 that day, then In that case, it only took $1 billion in cash to move the price to $1000. NOT 14 billion.... I hope you get this.

Bitcoin only needs a few things to reach a new ATH.

First, is the ratio of sellers to buyers has to turn. Price increase can do this alone because miners will have less incentive to sell as they can pay for their electricity with fewer coins. Miners are typically holders if they can be. The halving will also do this. So a price bump alone can reduce selling pressure and only short-term speculators will be selling lots of coins. In 9 months the halving will do this for us and everyone that understands markets knows what is coming.

Second, buying pressure has to go up. More easy entries into the bitcoin market (coinbase, gemini, et cetera) is a key here. Two years ago getting money to Gox took huge balls to wire your money to Karp. Now you can debit out of your checking account. HUGE improvement. Positive news and a positive momentum behind bitcoin will bring those wanting to invest. There is never and end of those types of people that are willing to take a chance on big returns.

Are you serious at all dude???
If you give me 1 million bucks, I would easily live my whole life king-size and die like the same...
If you think it ain't anything and if you have something bigger to share, why don't you just come ahead and share it with us if it's nothing for you???  8)

$1,000,000 is not too much money but what it can buy is so great in some 2nd world countries.
You know real estate prices and rents all go up in those developing countries. Also their stock markets have valuable shares of some firms who have consistent grows.
Even inflation and interest rates are 2 digits in these countries.

You cant get much more than one percent without risk today.  That s only $10,000 a year.

1m is not outstanding anymore, sorry to say.  You need about 3m to retire comfortably in the usa.

What country do you live in?

In certain parts of the USA, $1 million is actually not too much money. Look at New York City. That 1 mil can by you a small housing unit in the city, which is by no means life changing. However, there are cheaper places where $1,000,000 can buy you a nice house, a car, and pay off all your loans with plenty to spare. Still, certainly not a king-size life and absolutely not enough to discontinue work.

And who would want to live in NYC unless you are high paid executive or own a successful company

It would not be viable to live there if your just an average guy/woman who is working just to get by

Certainly risk appetite would affect your rate of return.  Bank and CD's ...have little or no risk and maybe yield 1% return. But for a modicum of risk you certainly can find a bunch of blue chip stocks that will yield 4-6%.

Most people in the US retire with nothing other than social security so I guess most aren't even living comfortably.

Well, there are plenty of average men/women living/working in New York. Someone has to fill every position under these executives and companies. Of course, it wouldn't be a good strategy to move to New York if you wish to live comfortably as an average person. Some, however, were born into the area, or stay for other reasons.

I guess that all depends on your lifestyle.  For most people, making $50,000 a year (or equivalent in whatever country you live) represents a decent annual sum for the average middle class citizens (and for lower middle class citizens, that's actually a lot). $1,000,000 means that person could comfortably live for 20 years without working a single day.  Of course, that assumes there'd be no inflation and it also assumes that person wouldn't be working.  If he or she was smarter with the money, a portion of it could be invested a good bit in themselves and used as capital to start their own business and be their boss.  And they could do it all quite comfortably for several years, long enough to grow a business through the initial hard years.  Within a few years of hard work doing what they love, they'd still have well over half of that money left with a very comfortable trade that they enjoy. If done right, such a person might possibly never have to worry about finances ever again cuz they'd be completely set.

So yes, $1,000,000 could definitely change life and probably for most people.

If you're used to living flying first class every where you go and eating at first class restaurants and buying the biggest house on the block, then maybe not.  But I digress

Although of course, to make that million dollars go the extra mile, I would advise against living in high cost-of-living places like New York or LA.  Florida seems rather nice this time of year.  $50,000 in Florida will take you 20 years without having to work

Guys please don't confuse NYC as only being Manhattan.
Brooklyn, Bronx, Queens and that red headed step child Staten Island are all part of NYC.
Cost of living, most of which includes housing is much much cheaper in these boroughs. easily by factors in double digits

are you kidding? NY city is one of the most interesting places to live and 8.4 mil people agree.
Do you think they are all executives?
Bronx, Queens and Brooklyn are where regular folks mostly live, but they might work on Manhattan or Long island.
https://en.wikipedia.org/wiki/Demographics_of_New_York_City
average household income in Brooklyn=$60K, Queens=$67K with average in US $52K. These are not rich people.

I also agree with OP that says that $1mil is serious chunk of money. Financial professionals usually suggest that you can safely use 4% each year without even decreasing principal (due to appreciation). A healthy mix of stocks, bonds, RE and alternatives is needed, though.

If bitcoin will ever pops really high, I intend to use Risto's SSS method as I think that it is quite brilliant:
https://bitcointalk.org/index.php?topic=345065.0
Essentially, you sell out 10% every time BTC doubles from your average buy-in price.

These "financial professionals" have an approach that is fundamentally mistaken.
The first priority when investing is to be protected from loss, but you are always exposed to risk with any traditional or alternative asset, so to "diversify" into a "healthy mix" of assets does not actually protect from loss.
If there truly exists a diversified strategy or portfolio that did well during the previous market meltdown while consistently producing >4% average returns, then let's identify it and discuss it.
What you should be doing with $1M is acquiring assets that will always protect your principal. Most people are not even aware that these exist.

because they don't, maybe? in a strict sense, at least.

i read a book about depression and one thing was interesting. People needed professional services during and after, but had NO money to pay for them. So, as far as professional services are concerned, they suffered for much longer than actual depression is depicted (which is typically 1929-1933) and recovered only after WWII.

Of course they exist; you will even hear the professionals talk negatively about these investment vehicles, and it would be laughable if it was not so sad.

you are not talking about stamps or MLP?
when I get cold calls, they always talk about stamps and MLPs, LOL.

maybe a decade ago, but right now most banks don't even pay interest anymore, they're just as likely to charge interest.

Even if you earn an average salary in a first world country you're expected to make about $2 million in your lifetime, but most of it will go towards mortgage payment, food, gas, and other necessities, so you won't ever get to save a million.

Sure, a million isn't money most of us have laying around the house, I mean most people struggle getting even 1% of that on the bank and keeping it there. But don't overestimate the value of a million.

Being a millionaire won't allow you to just buy whatever you like and it won't make you rich beyond believe. This is what I am trying to warn you for.

Don't go thinking "I'm a millionaire now, I can buy whatever the hell I want and it won't even make a dent in my bank account" If you do that, it will be gone before you know it.

You'd need far more than 1 million to be able to spend as much as you please without worrying about money.

But, if you handle your money with a bit of care than a million can get you a long way.

no you won't

you'd spent it on a car a house and poof gone is your money.


if think you can throw money around like peanuts just because you have a million of them, you won't have a million for long.

what kind of assets?

just asking in case bitcoin becomes worth enough that i have to worry about these things.

this is something that always interest me, how many think that you need tons of million to conduct a good life, no you don't need ton's of million, unless you like to buy expensive things, which in most case are useless, and only a way to tell the other that you're rich

i'm not interested in this, with 500k i could finish this life easily, 1 small house 50-100 square meters, 5k euro per year, and i'm done i can pay everything

foods cost me 200-250 per month, which is the major thing, the remaining stuff are clothes, cheap things, i don't like to spend too much in clothes

and then you have utility bills, which if you're alone should be a total of 50-100(including all of them) per month

then i have other money to buy videogame which i love, and part of my computer, smartphone every 3 years etc..., that's it, if you think i care about yatch/big house/traveling/etc..., no i don't give a damn about those stuff....

I think that the OP speculated price is possible.
But maybe after few years when bitcoin become more popular.
For now it is a lot about 1500% change but there aren't much coins available.

it probably needs 10 years before we see a price anywhere near the $5000 to $8000. patience is the key to profit. i will definitely hold for plenty of years.

I think that it really depends on the technology trends.
About competition i don't think that any other currency will compete bitcoin.
And another one is advertisement from big companies, but min. 10 years of course until 5-8k

10 years until 5k?  Conservatively, if it takes more than 3-4 years to get to 5k, that would be tragic.

Yep...living on social security is not comfortable, at least it wouldn't be for me.  If you're on a fixed income
from the govt, you have to watch every penny. 

If Bitcoin stays 10 more years in penny stock territory then it is a total failure.

Yea these levels are penny stock territory for Bitcoin. If we haven't exponentially grown to 5+ figures in a few years, something went wrong. If you don't think so, you haven't wrapped your head around the potential of Bitcoin and are thinking too small.

what penny stock?
$4 bil is a solid midcap, right in the middle of $2-10bil range.

Do you realize how tiny even $10 billion is when compared to the market caps of typical S&P 500 companies or global commodities and currencies?

I thought this is supposed to be a history changing global currency, not a small midwestern fast food chain.

Either it hurries up and takes off in the next 1-5 years or be doomed to be seen as a fad IMO.

Said who? Even if it stays in this price range for the next 20 years it wouldn't be a failure, cause we would still be able to send money across the globe with almost no fees by using Bitcoin.
You call it a failure because you wanted to profit from rising Bitcoin prices.

The falling block reward is something of an inbuilt time bomb. If the price stays at similar levels then it'll fade away. As Satoshi himself said it either becomes a major deal or it'll dwindle to nothing. I'm sure it could survive as a curio for die hards but it would never progress beyond that.

When I first heard about bitcoin it was worth less than a dollar and sounded to me like a scam at first. Its now worth over $200 in just a few years. That isn't bad. I think that bitcoin needs more success in awareness and adoption; I don't see what good a higher price would do.

OK "dloghwak" lol
Whatever you say.  But please stop talking about people trying to get rich quick with Bitcoin as if it's some kind of faulted mentality.  It's about the REALIZATION that it is extremely valuable and that it will change the world.  IMHO, anyone who continues to attack bitcoin supporters as "get rich quick" fantasies are either missing the point or spreading FUD.  If Bitcoin is what we say it is, then we will absolutely get rich quick.  And if you don't then it's your own stupid fault LOL

How exactly does bitcoin achieve more awareness and adoption without price rising?

To be a truly global currency there would have to be a daily velocity of trillions of dollars moving on the blockchain. There is not enough Bitcoins in existence to handle such large volume accept thru a radical price increase per coin.

And yes I do want to profit because that is what business and commerce exists for, to make money and better your life and provide for your family. I'm not a " get rich quick" schemer but I'm not a communist either and hope it will help me succeed in life.

You seems to be lucky when you heard about bitcoin.
But did you really invested a bit at that time or lost that opportunity.
The same maybe would be nowadays after few years when we go back to current time.

Sorry to say, but there is a reason why you aren't rich and Bitcoin won't change that.

Nothing wrong with being a capitalist, but you can't measure Bitcoins success on your own success.

Merchants accepting it, stand ups utilizing it.

i hope you are right i believe you really are as it would bring me a lot of profit in my opinion its only a matter of time when it will happen

Recently newegg that implemented i think increased the price a bit.
Then there is the g2a which sells game keys and other game stuff.
Dell also accepts bitcoin for a long time now, and hope one day amazon and ebay will implement the bitcoin.

Amazon is what so many people are waiting for. The current blocksize issue is what potentially holds Amazon back. If they accept Bitcoin payments, then most likely each block will be full.

By doubling the block size will the issue still available?
Or maybe there should be another thing another big size.
If amazon implements then i think in the beginning the block will not be full but after a year or so when the popularity increases.
But of course the price will be increased and maybe at the OP target of 5-8k

Even if Amazon did accept it, there still wouldn't be a reason for any fresh users to come on board unless they were offering some major enticements. It would be sweet but I think they'll show some interest long after everyone else has done a lot more hard work.

Yes regarding the blocksize issue I hope we finally will find a solution for that at the next planned conference for that in HK.
Bitcoin has to grow and therefore bigger blocks are desperately needed.Furthermore payment channels and sidechains will have a big impact in Bitcoin's growth.This is going to be very very interesting.

...that's non sense.

No one is rushing to buy bitcoins because merchants accept them

Right but perhaps the pumping of bitcoins price as a speculative instrument has run its course. Perhaps if the price is going to rise further it needs to demonstrate more value other than being something a fool buys in order to sell to a bigger fool for a bigger price sometime down the road. Call me naive but I do think that bitcoin has something to offer outside of that.

It hasn't.

Just sit back and enjoy the show.

Speculation and greed is what drives this beast, at least until we get to a 1T$ market cap.

depends who you ask? if it doesn't increase in value at all, but transforms the way we conduct transactions around the world, I would deem that transformative and a huge success.
when you speak of bitcoin as a failure you are only looking at it as a value proposition...yet its is much more than that.

I think we can close this year out at $700+

Strap yourselves in.

It needs value to incentivise those who help keep it rolling. If there are no exchanges left and mining goes back to a bunch of old laptops then that's not a system that most people will be willing to trust or make use of.

All the cool layers on top that make life easier ain't being run out of the kindness of people's hearts.

Bitcoin is about reintroducing sound money to the world.

Transforming how we conduct fiat transactions around the world does not compare in terms of impact on society.

I wouldn't call a 4 billion dollar market cap "penny stock" territory. Under 1 billion is considered a small cap stock. Over 10 billion is generally considered a large cap stock. We've already been there and will get there again. $5000 is possible next year, but if it takes 3-4 more years, that's good enough. 10x your money in 3 years. Come on, that's fast.

I don't think all that many people on here have done much conventional investing. They've been permanently warped by Bitcoin and alt madness and the bar of expectations has been raised.

Yep. Stocks have taken 8 years to double. Ether(eum) did that last week.  

Bitcoin's up 35% in a month. It's pretty nuts how fast you can gain and lose money. Maybe crypto is more like a casino.

but it could start a chain in some way, this is a possibility, it will then cause a huge dump from amazon and the price will be levelled in any case, but with a major correction for the value

the problem is that 99.9% of people around the world are fine with fiat

That would be nice, but I very much doubt it. I would be surprised if BTC broke $1000 during the halving next year.

Exactly, which is why greed and speculation drives adoption. Not "merchant acceptance".

it works two ways,

one way, they think making 10% profit in a month is "slow"

on the other hand they think a $10 billion market cap is huge.

Bitcoin will stay volatile as long as the "market cap" is tiny.

Even a small investment of a million dollars or so will result in a couple of % increase in price. While the same investment in the USD/EUR market wouldnt even change it by a pip.

I have news for you, buddy. The bulls are back. We can break $1000 THIS year.

Looking good so far, i'm so lucky I know something only a hand-full of people know, it will keep going like this untill 500, than 700, 1400 and big investors will join. Just watch :)

well, we are at $ 348 now, wow.

bitcoiners feel like this in the casino of life at the moment:
https://youtu.be/Il8aYGjDmzg?t=403

there is actually a lot of consensus that btc will go past $1,200 next year around the halving. will it stay there and go beyond is questionable.  but at the low end it seems like $600 is almost a given.

usually the floor after a bubble is a bit higher than the top of the previous bubble, so if that pattern holds true the floor after the next bubble would be over $1200 (say $1400 or so)


the past bear market has broke many patterns though, wil the next bubble re-align to confirm with previous patterns, or wil we create a new pattern?

Only time will tell.

The same moment when it passes last ATH of ~1200 USD, it will be forced to go above 2k. The main reason is that every investor that bought at last ath will think to
himself; i should have just held on to my coins, and they will re-buy at huge loss, which will only drive the price even higher.

ha ha ha  :P

https://i.imgur.com/QLWi5FG.png

lulzzz

consensus among who? 

People who really really really want it to happen.



Yup. Everyone got a hard lesson in that and they shouldn't go forgetting that now. Perhaps vastly more epic patterns will be created or a bunch of modest ones. The future is being written as it trundles along.

New all time highs are often a great time to buy something. It means there is momentum. Think about it with BTC.

1. Buy at all time high of $32-$33 in February 2013. Then what happens?
2. Buy at a new all time high of $267-268 in Late 2013. Then what happens?

If bitcoin passes $1201, what should you do? Buy!

Maybe you will want to sell because you think the price is high. Haha.

I hope that the price of $5K-$8K+ will be at next year.
After the halving period there are many chances to grab this price.
Otherwise there should be lots of pumps since its firstly impossible.

it was a tweet linking to an article...saw it maybe a week ago or so.  let me see if I can find and post here

oh, well if it was on twitter, it must be true then.  :P

I do not hope so. I like the price of $5K-$8K+ in 2-3 years. We do not want a big bubble this time. I still remember the two year bear market from 2013-2015.