Bitcoin Forum

Economy => Economics => Topic started by: awesome31312 on June 06, 2017, 06:11:43 AM



Title: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: awesome31312 on June 06, 2017, 06:11:43 AM
People often tend to miss the point with such posts. Yes, I believe it is possible for Bitcoins to be valued at $10,000 USD or greater at some point in the future, but only because the USD is going to suffer from inflation. Not all of us are taking this into account. Bitcoin's value does not come from the USD at all. Let's stop making the comparison, for the sake of economics. It is not a substitute or a competitor of the USD either. It is *actual money*. The US dollar bills are debt slips. Bitcoin is based on supply and demand. It may or may not be the currency of the future, but cryptocurrency definitely is!


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: davis196 on June 07, 2017, 05:05:51 AM
People often tend to miss the point with such posts. Yes, I believe it is possible for Bitcoins to be valued at $10,000 USD or greater at some point in the future, but only because the USD is going to suffer from inflation. Not all of us are taking this into account. Bitcoin's value does not come from the USD at all. Let's stop making the comparison, for the sake of economics. It is not a substitute or a competitor of the USD either. It is *actual money*. The US dollar bills are debt slips. Bitcoin is based on supply and demand. It may or may not be the currency of the future, but cryptocurrency definitely is!

You are right,but i don`t see any major USD inflation.
The Federal Reserve printed trillions of dollars,the USA government debt is still increasing but the USD value is still pretty high.
Anyway,it`s better to compare bitcoin with all the other cryptocurrencies,instead of comparing BTC with USD.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: Amph on June 07, 2017, 05:44:10 AM
it will happen eventually when more people are willing to pay for it, actually it can happen pretty fast if many are holding now their coin, and the coins on the exchange are limited

because the same people will rush to buy at higher price, just to have more for  the future, but since they are limited in circulation you don't need increase in adoption for the value to increase

what i mean is that the real circulation of the bitcoin now is not 16M+, which is a good thing, this is forcing people to buy at higher price, because there is a shortage of bitcoin right now with the current high demand


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: Idrisu on June 07, 2017, 06:40:33 AM
People often tend to miss the point with such posts. Yes, I believe it is possible for Bitcoins to be valued at $10,000 USD or greater at some point in the future, but only because the USD is going to suffer from inflation. Not all of us are taking this into account. Bitcoin's value does not come from the USD at all. Let's stop making the comparison, for the sake of economics. It is not a substitute or a competitor of the USD either. It is *actual money*. The US dollar bills are debt slips. Bitcoin is based on supply and demand. It may or may not be the currency of the future, but cryptocurrency definitely is!
Exactly, "bitcoin may not be the currency of the future, but crypto currencies definitely is" is a reality we cannot push aside. Bitcoin according to  the founding fathers " will become something valuable or nothing at all" we the enthusiast should always have this at the back of our minds.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: ktabb on June 07, 2017, 10:15:42 AM
People often tend to miss the point with such posts. Yes, I believe it is possible for Bitcoins to be valued at $10,000 USD or greater at some point in the future, but only because the USD is going to suffer from inflation. Not all of us are taking this into account. Bitcoin's value does not come from the USD at all. Let's stop making the comparison, for the sake of economics. It is not a substitute or a competitor of the USD either. It is *actual money*. The US dollar bills are debt slips. Bitcoin is based on supply and demand. It may or may not be the currency of the future, but cryptocurrency definitely is!

Inflation happens at an average of 3.22% annually, and that number has been lower recently. It would take a very, very, very long time for bitcoin to reach $10k based on inflation alone. If bitcoin hits $10k, inflation won't be a primary, or even significant, reason.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: BitHodler on June 07, 2017, 10:23:01 AM
Bitcoin will move past the $10,000 mark regardless of fiat becoming less valuable throughout the years. $10,000 is nothing more than a temporary milestone, don't forget that.

As years go by, people will see Bitcoin far more as safe haven asset. I am even so confident, that people will convert a large portion of their gold holdings to Bitcoin.

Bitcoin offers people freedom, convenience, it's insanely easy to liquidate, it doesn't occupy a large bit of space in case you have millions or even billions worth of it, and the list goes on.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: yoseph on June 07, 2017, 10:28:26 AM
Bitcoins high value has nothing to do with a failing US economy, rather its based on how a lot of people have started to accept it as a means of payment of goods and services, the more people accept and use bitcoins, the more it value rises. If major countries such as the US and the EU recognize bitcoins as a legal means of payment, the price may eventually go higher than ever.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: Gaaara on June 07, 2017, 12:21:29 PM

You are right,but i don`t see any major USD inflation.
The Federal Reserve printed trillions of dollars,the USA government debt is still increasing but the USD value is still pretty high.
Anyway,it`s better to compare bitcoin with all the other cryptocurrencies,instead of comparing BTC with USD.

Yup, there is no sign of USD inflation, there is way USD will go through inflation as they are the most powerful money, USD has a good foundation and I think if ever that any problem that will appear regarding USD will quickly be solved as the US governments actions at any problem with their country.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: machinek20 on June 07, 2017, 01:09:57 PM
It is possible and it dont need through inflation, it can be reaches if there are a lot of people using bitcoin and we are using usd because it is the most common currency used for global transaction, it doesn't matter what currency we used, it is just an exchange rate as the comparison


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: jameshowlett on June 07, 2017, 06:38:48 PM
People often tend to miss the point with such posts. Yes, I believe it is possible for Bitcoins to be valued at $10,000 USD or greater at some point in the future, but only because the USD is going to suffer from inflation. Not all of us are taking this into account. Bitcoin's value does not come from the USD at all. Let's stop making the comparison, for the sake of economics. It is not a substitute or a competitor of the USD either. It is *actual money*. The US dollar bills are debt slips. Bitcoin is based on supply and demand. It may or may not be the currency of the future, but cryptocurrency definitely is!

You are right,but i don`t see any major USD inflation.
The Federal Reserve printed trillions of dollars,the USA government debt is still increasing but the USD value is still pretty high.
Anyway,it`s better to compare bitcoin with all the other cryptocurrencies,instead of comparing BTC with USD.
Shut up dude. Look at this: http://www.usinflationcalculator.com/
Make some calculate with this website and you will see how awful the inflation has caused to the USD. $20 in 1913 worth $500 in 2017 ;) Please do not say anything which you do not understand about it


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: findingthemoon on June 07, 2017, 06:45:14 PM
People often tend to miss the point with such posts. Yes, I believe it is possible for Bitcoins to be valued at $10,000 USD or greater at some point in the future, but only because the USD is going to suffer from inflation. Not all of us are taking this into account. Bitcoin's value does not come from the USD at all. Let's stop making the comparison, for the sake of economics. It is not a substitute or a competitor of the USD either. It is *actual money*. The US dollar bills are debt slips. Bitcoin is based on supply and demand. It may or may not be the currency of the future, but cryptocurrency definitely is!

Bitcoin has had since its existence higher inflation than the USD, true it will eventually be deflationary but I always laugh when people say they put all their money into bitcoin because of inflation. Bitcoin is the most inconvenient currency to really use so I also disagree that its value does not come from USD because without a way to convert it, bitcoin would be nearly useless.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: Jherek on June 07, 2017, 06:58:15 PM
Yeah that is true, bitcoin (and also the big part of other cryptocurrencies that are well-known and trusted worldwide) does not get affected by any inflation, because it simply does not exist, when we always have inflation factor on any paper money and that is a fact.
However I think that it is actually kind of stupid to say that 10,000$ bitcoin is possible just because US dollar can lose a lot of its value to make such a significant change. After all, do you really expect USD will lose half of its value in next 10 years? Something like that happening would pretty much break the economics of 90% of the countries on the globe, a global crisis and other things: I would rather believe that BTC will double its price 3 times more.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: shield132 on June 07, 2017, 07:18:47 PM
By the way it depends a little on USD because main price is shown in usd and plus many exchangers (mostly local based as I know) are converting bitcoin in usd at first and than in local currency, well, I have to pay both fees. Also usd can't make any big difference on bitcoin's price, because if usd went wrong, bitcoin will go right and it can always find it's right because bitcoin is different system from usdand other currencies. Also possible is everything but hard to say when bitcoin will achieve 10000$.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: tabas on June 07, 2017, 07:35:43 PM
People often tend to miss the point with such posts. Yes, I believe it is possible for Bitcoins to be valued at $10,000 USD or greater at some point in the future, but only because the USD is going to suffer from inflation. Not all of us are taking this into account. Bitcoin's value does not come from the USD at all. Let's stop making the comparison, for the sake of economics. It is not a substitute or a competitor of the USD either. It is *actual money*. The US dollar bills are debt slips. Bitcoin is based on supply and demand. It may or may not be the currency of the future, but cryptocurrency definitely is!

Possibly it is a yes that bitcoin can reach $10,000 soon but I don't understand the comparison of bitcoin and USD. People tend to think that because of it's value was being converted to dollar it is depending on it. And you are right that it's base on supply and demand that makes the value of it higher when people buys more.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: sweetdesirez on June 07, 2017, 07:43:04 PM
Why do we always relate everything to SD flat is something I cannot figure out. Bitcoin is a currency by itself and not affected by any flat currency, but the rules and laws. As Russia is thinking of developing its own national currency, the Indian banks are thinking of integrating blockchain technology, it is obvious bitcoin, the first to lead will always lead.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: jc89 on June 07, 2017, 08:34:57 PM
Yes it will happen and only time can tell when. Some might say within a year, 2, or 3 but only time has the answer.

I haven't encountered about someone believing that the price of bitcoin comes from the USD itself. USD is just a reference for the bitcoin's price and they have no association or whatsoever. As from your statement, the demand and supply is the sole dictator of the price of bitcoin, nothing else.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: iluvpie60 on June 07, 2017, 08:57:02 PM
The USD isnt being devalued that much though. It devalues a few percent each year roughly. For USD inflation to make BTC go up would take a long long time.

BTC is going up by its own merits. More countries making it legal. More consumer protections in certain countries put on having licenses and such. BTC is going up on its own.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: Panda Trump on June 07, 2017, 09:26:46 PM
It might be happening in an other way though.

If bitcoin is $10,000 each, we would need everyone to own about $25 worth of Bitcoin. If it becomes a world-wide known and often used currency, this would be easily achievable... It just has to become more known.

We could even reach the $1,000,000 per bitcoin without any inflation on the $$$ side... 60 Trillion dollars of money in the world, I found on some site. This means that if everyone would use Bitcoin instead of that, Bitcoin would be worth an astonishing 3 million dollars!

Everything is possible! :)


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: gentlemand on June 07, 2017, 09:33:55 PM
I've had 'dollar hyperinflation' shouted at me for what seems like all eternity.

Hasn't happened yet and I'm getting deeply bored of it. It usually seems to be from people trying to sell you their lumps of useless shiny metal.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: iamTom123 on June 08, 2017, 02:43:51 AM
The reason why Bitcoin seems to be linked to USA dollar is because people are encashing their Bitcoin to the dollar but in other countries like the Philippines we are selling our Bitcoin for the local currency yet we also measure our Bitcoin by the dollar because we know the value of one dollar vis-a-vis the peso.

I don't believe that Bitcoin can reach the $10K level all because the dollar is suffering from great inflation. I think it does not work that way as Bitcoin can really rise on its own. In fact, even if Bitcoin can be one million there is no harm to the dollar at all as they don't exist dependent of each other.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: n0ne on June 08, 2017, 02:51:20 AM
It's clear that $10000 is a possible one, because what experts have predicted is much higher than the quoted price. Also the user base is increasing with increased circulation, along with increased holding of bitcoins. This generates a higher demand for bitcoin and cause a price pumping that has got highest chance of reaching $10000 and more.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: Tyrantt on June 08, 2017, 03:09:40 AM
It's clear that $10000 is a possible one, because what experts have predicted is much higher than the quoted price. Also the user base is increasing with increased circulation, along with increased holding of bitcoins. This generates a higher demand for bitcoin and cause a price pumping that has got highest chance of reaching $10000 and more.

$10k is possible absolutely, tho it would just take some time for more people, businesses and countries to accept it. Once it's spread enough, I believe we'll see a 5 digit number in the future and we've had a good half of the year with Japan and Australia accepting bitcoin. Just give it some time.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: viralz on June 08, 2017, 03:20:12 AM
People often tend to miss the point with such posts. Yes, I believe it is possible for Bitcoins to be valued at $10,000 USD or greater at some point in the future, but only because the USD is going to suffer from inflation. Not all of us are taking this into account. Bitcoin's value does not come from the USD at all. Let's stop making the comparison, for the sake of economics. It is not a substitute or a competitor of the USD either. It is *actual money*. The US dollar bills are debt slips. Bitcoin is based on supply and demand. It may or may not be the currency of the future, but cryptocurrency definitely is!

You got the point,
Bitcoin is basically the stuff under supply and demand, no-one control it, 24 hours and no holiday.
It is ways too big if compared to fiat money.
Bitcoin is king (so far), it is actually a real stuff with the function of real money.

BTC is like the real lion king in the wild harsh jungle while the fiat money is tamed and controlled,.... there is no way to trade it 24/no holidays.




Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: joromz1226 on June 08, 2017, 03:42:15 AM
10,000$ bitcoin each is very much possible actually. I think 2 or 3 years from now it will be given or happen.
That's why many of the bitcoin enthusiast are holding it because of this things.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: Zicadis on June 08, 2017, 05:14:27 AM
People often tend to miss the point with such posts. Yes, I believe it is possible for Bitcoins to be valued at $10,000 USD or greater at some point in the future, but only because the USD is going to suffer from inflation. Not all of us are taking this into account. Bitcoin's value does not come from the USD at all. Let's stop making the comparison, for the sake of economics.
Its easy to miss this point because most of the times we all talk of bitcoins value in dollars and end up pegging it to the USD, which in reality is not what happens.

It is not a substitute or a competitor of the USD either. It is *actual money*. The US dollar bills are debt slips. Bitcoin is based on supply and demand.
Correct the price system of bitcoin  is entirely based on supply and demand, and that is why a $10,000 Bitcoin is possible because of its limited coin supply on condition demand is always there.

It may or may not be the currency of the future, but cryptocurrency definitely is!
Whichever role it plays in the future it has paved way for the mystery future currency


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: HabBear on June 08, 2017, 05:32:02 AM
People often tend to miss the point with such posts. Yes, I believe it is possible for Bitcoins to be valued at $10,000 USD or greater at some point in the future, but only because the USD is going to suffer from inflation. Not all of us are taking this into account.

Wow, incredible point here!

But if that is true, you're implying that the USD would be in free fall more than other currencies. So while Bitcoin could hit $10,000USD it could still be $2,500 or $5,000 or less than $10,000 in CAD or Pounds or Euro or Yuan?

That would be quite an weird turn of events. This makes the case for putting all of ones savings into Bitcoin and then leveraging the arbitrage between currency values to really make gains in purchasing power, be it with the USD or any other fiat currency.

It's interesting that as the price of bitcoin to fiat gets higher the volatility that still remains (and almost in the same nominal value swings) becomes less concerning. Anyone else feeling more ease about the volatility that still exists?



Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: FiiNALiZE on June 08, 2017, 10:00:56 PM
It is possible and it dont need through inflation, it can be reaches if there are a lot of people using bitcoin and we are using usd because it is the most common currency used for global transaction, it doesn't matter what currency we used, it is just an exchange rate as the comparison
Supply and demand, you have the right point though if someone finds a flaw in Bitcoin and is able to make coins out of nowhere even though people say that itís impossible then the price of Bitcoin would just go on a decline till Bitcoin is finally over.
$10,000 per Bitcoin is easily possible if more people start purchasing it, if purchasing Bitcoin becomes easier to the regular people that donít use Computers that much then the price would go up really fast.


Title: Re: A $10,000 Bitcoin is possible, but it won't be what you think it would be
Post by: LegendaryMiner on June 08, 2017, 10:15:49 PM
I agree, but for some individuals it will be difficult to understand. For many users the first thing that comes in mind is how to sell Bitcoin to get fiat. This is because they fail to understand how Bitcoin can be sustainable in the long run, because such people have not put the effort into understanding the technology and where Bitcoin's value comes from.