Bitcoin Forum

I feel that $10,000 a coin is Bitcoin's destiny easily. Given the amount of growth and maturity that comes along with it and the limited supply of Bitcoins in circulation, its only a matter of time when $10,000/BTC will be the new $100/BTC.

Chime in!

And how many Happy Pizza can we buy with BTC today? and how many could we buy with it 2 years go?

A 100-fold increase is easily possible with Wall Street jumping in.

http://bitbet.us/bet/635/1btc-10-000-usd/

Yeah mate but if you just swing over to Vietnam you will notice its even worse. I can't remember clearly but I paid like 2,00,000 Dong or whatever they call it for a taxi ride. lol!

Yup, I remember the crap Cambodian money. Basically using each 1000 note like a quarter as you said mostly change.

Bet was opened back when mtgox existed.

10k was possible before China decided to ban it. And merchants in China was preparing for mass adaptation.

We don't even need Wall Street to reach 10,000

We will most likely reach it next year, with or without Wall Street.

iwanttobelieve.jpg

We are not hitting 10k anytime soon, if ever.  Bitcoin will be replaced by another currency, should the technology continue to move forward.

I set more realistic goals. like hoping it will go up another $10 or so every once in a while.

This forum is full of ambitious people.

Thinking small will probably get laughed at.

Ding dong.


Discuss!!!


 >:(

Sure I will believe in 10K btc per coin...I also want to believe in Vulcan Star Trek Nympho's of the T'pol type exist.......

don't hurt to hope

Searing

It will happen easily. I give it max of 3 years before $10,000 per Bitcoin will have been considered "cheap". My 3 year hopes for Bitcoin is $50,000.

The trendline growth chart hanging on my wall says we should be at $10K/btc minimum by mid-October 2015.

Growth is not a constant, ever increasing thing.  Based on this, I guess it'll hit 1 trillion per btc at some point also?

I do believe.

Given the Bitcoin advantages over fiat currencies, it is really only a matter of time for $10,000 a coin. But not in one year, very likely within 5 years

When the reward halves in 2016 we will get another upturn in the direction of the price.

Like it did after going from 50 to 25.

Let's come back in Oct. 2015 and revisit this comment, shall we?  I'll PM you.  :D

i will quote this and point back to in july 2015

Looking good  8)
Last seven days:
change: +11.49%      high: 654.1      low: 554.5

people keep saying that but I've never seen a price rise because of reward halving. Supply doesn't decrease only increases slower.

Do you understand what an s-curve is? Do you realize that s-curves are usually elliptical until they go vertical?

Bitcoin adoption is still a long way from the vertical.

Of course it won't hit a trillion but $10k is almost inevitable.

It's because people still believe bitcoin will act like myspace or netscape.

But they don't realize bitcoin does not work like that, there's way too much at stake in bitcoin.

One can simply just move from myspace to facebook, because it doesn't cost anything to register at myspace, and it doesn't take any effort and money to construct an infrastructure to have myspace work properly. However bitcoin requires money to buy into it and it requires infrastructure to work (it's worthless if shops don't accept it).

So bitcoin won't simply be replaced by some new altcoin, in fact, all altcoins are dying, even litecoin and dogecoin.

Go invest in overkillcoin (https://www.youtube.com/watch?v=1eU2INYe4gk) all you want, bitcoin will be worth +$1 million within 5 years.

That Sir, is the only thing which will take Bitcoin down...if any other competing digital currency gets ahead of Bitcoin. Especially if some government decides to toss one out~

I think it will be reached in the first half of 2015.

I want to believe too, but I find it hard to believe that we will pass something like $5,000 per coin.   Trust me, I would love to be wrong, and pass $10,000.   I just logically don't see it...

I think mathematically we would need to be much higher than current prices if BTC is going to truly become a competitor to a Visa or Mastercard, I just don't know where the top would be...

You are wrong. Your problem is not logic. The logic is crystal clear on this matter. You can't see it emotionally.

no one will adopt it, it will fail, end of story.

we are moving AWAY from fiat, not towards it.

you all just afraid of big numbers, but


http://fm.cnbc.com/applications/cnbc.com/resources/img/editorial/2014/04/29/101624678-BmZdtkIIIAAdIsX.530x298.jpg?v=1398793925
these 8 people are the owners of companies that total a networth of 1 trillion

that's 128 times the value of all currently mined bitcoins combined. And they're just 8 people....

Walmart has a networth of 486 billion or so (over 60 times the value of all bitcoins currently mined), and that's just 1 single company)

the gold market is worth 7 trillion dollars, about a 1000 times more than the bitcoin market, and really, does not bitcoin offer much more utility than gold? It's basically gold 2.0

and don't even get me started on real estate bubbles etc.

Bitcoin will grow to a multi-trillion dollar industry, mark my words.

Less coins produced per day, miners who sell to pay the bills have less to sell, supply to the market reduces, assuming demand is constant this will result in a price rise, it may take a few months to take effect, but I think its inevitable.

Well, here's the math for the 5-figure bull-case: http://www.honestnode.com/bitcoin-fair-value-a-first-assessment/

Just use this app to play with some numbers:
http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html

Any way you slice it, bitcoin rising to many thousands of dollars per coin is a no brainer.  Even tens of thousands is not at all out of realm of possibility.  It's not a matter of if, it is just a matter of when (think a few years, not decades).

It's interesting to see how just a month ago, lots of outdoor were predicting $5000 in July, while now, many don't think it will ever hit that figure. I think we will break the ATH either this year or early 2015. Before a new ATH, there's no benefit in speculating if we'll hit $10k or not.

Remember, remember!
The fifth of November,
The Gunpowder treason and plot;
I know of no reason
Why the Gunpowder treason
Should ever be forgot!

Bitcoin has the infrastructure in place to be a payment gateway. And the network effect is going mainstream.

As for other alt coin, most are dieing slowly as zimmah pointed out.

I believe it, Bitcoin is heading up, those 10k will happen and probably before the next years July 4th, Happy days everyone !

It's impossible without regulation and secure and reliable exchanges.

Major investors will never put money through shady exchanges without a trusted third party.

And that's the right spot for Winklevoss twins joining this party, when Bitcoin enters to Wall Street there you will have the first multimillionaire reliable exchange :)

unlikely

I would love to support this, but in my opinion, there were at least couple of problems with the article:

1)  Bitcoin as 10% of the remittance market is nothing short of wild speculation.  It seems unlikely.
2)  I believe the author has miscalculated velocity.  He's looking at, I believe, things like mining transactions and including them in velocity calcs.  This would be akin to counting the printing press moment as a velocity event, but I do not think USD velocity calcs work that way.
3)  I believe that the M2 calculation is actually the appropriate one to make--which I don't typically see, so I really like that he's working with M2 as a fundamental building block to determine value.  But I think it's pegged in a very arbitrary fashion in this article.
4)  I'm having a hard time understanding why these elements he identifies would all be additive.  Take the M2 calculation, for example.  It's probably a good measure.  But the uses he identifies and ADDS to the M2 value determinant are really just part and parcel of M2. 

That said, I'm open to being told why I'm wrong.  I'm an MBA and I do a lot of microecon work, but I don't have as much exposure to macro. 

I think this will be Impossible until the FBI auctions off their 140k coins.

Investors are not stupid enough to invest money into bitcoins at this point knowing that the FBI has 140k coins that they will auction off - the auction will of course cause the price to fall considerably.

The only real use of coins at this point is if you need to open an exchange with them or have some other use like the silk road coin winner did (I think he was opening an exchange with the coins he won/ exchange arbitrage or something) - but investors who want to simply hold coins will simply wait for the 140k auction  and buy cheaply when the price crashes - at that point the market can start rising again - depending on who bought the coins (steady hands vs weak ones who will dump when price rises) and other factors.

The marshals just completed a 30k auction, and if anything, the price went up. It sure didn't crash.

Yes
A) because it was only 30k - not nearly as much as 140k
B) As I noted the guy was not an investor but was trying to open an exchange and be involved in exchange arbitrage.

140k will definitely crash the price. Theres a reason why only 1 guy won all the coins - he needed them for something besides just investing - all the other buyers offered much less than he did - this tells you that for the 140k unless there is an exception like with the 30k auction - the bidders will lowball offers for the coins = prices go down.

That's coming soon.
Now that the US Mint guy tweeted that he bought bitcoin, more will follow ;)

I believe in 10K a coin soonish (say 2015).

10k is possible but I think unlikely  by 2015 , may be 2017-18.

Wrong, the FBI wont sell all the coins at one time, why do you think they sell 30k first. Cant you think by youre self, this is pure logical. Typical straightforeward tunnelvision.

Bitcoin will reach 10k within 2 years, its just 2-3 bullruns.

The FBI's coins were in two batches, one of 30k (SR) and one of 140k (DPR).
Ross Ulbricht is fighting for the 140k, which is the sole reason they weren't also sold at the marshall's auction with the 30k.

I also think bitcoin will reach five figures soon. I know we have the potential.

still with the auction panic talk? i thought you guys would realize now that auctions don't crash the price.

Well, of course I didn't though Bitcoin could go to 1000 dollar 2 years ago... I didn't even fathom that as a remote posibility. So there, yeah it can happen, technically it could go to 1 million dollars, this is a good thread by rpiet:

https://bitcointalk.org/index.php?topic=400235.0

Of course, the question is when. It may take ages, we'll be old and crippled by then  :-[
Also, a lot, a lot of people will lose a lot of money in the way, because there will be crashes, panic buys and panic sells, it's going to be an insane road of ups and downs, that is the only thing I know for granted lol.

We should look at the big chinese panic selling event when the chinese gov announced banning Bitcoin in several places. What amount of coins were sold during that period of time? How much would the price fall with a 140K coin sellout? Also, would they sell all at once, or a periodical sellout?

What most people argue about the 2.0 gold argument is that Bitcoin hasn't got any intrinsic value, that is, may the network fall or may there would be a mad max type scenareo... who would take Bitcoin as something as value anymore? While gold is a material thing that can be used in real life. That's the typical old school investor type of guy that I get when I try to explain Bitcoin to them. They are somewhat right tho, but in any case, in a mad max type scenareo, I maintain that the guy with the bigger guns and most food resources is who runs the place. I don't expect any niceness on such scenareo, like people doing trades and shit. I hope we never get to such a place and we all become Bitcoin millonaires, that is if I ever get to reunite enough money to but 1 BTC first :-[

I would like to believe it, but i dont.
When you think just about how much fiat is needed to keep the price in 10k USD range each day; thats something that banks would block definetly.
Even at the stage we are in currently, its hard to operate due to banks closing bitcoin related accounts, then just imagine the fuss if u multiply that by 10x-20x.

In a "best case scenario" , where the banks and that 1% population would have it in their interest for bitcoin to be at that value, then, and only then can 1 bitcoin be worth 10k $.

Cheers

10k is possible after the etf is listed on stock exchange.

Yeah, it seems withdrawing Bitcoin can be a pain in the ass. I know stories of accounts geting frozen by local banks when they try to withdraw. But then again, we have Bitcoin ATM. And as far as I know, you don't need any bank account or anything, you go to your nearest Bitcoin ATM with your paper wallet and withdraw your shit. What scares me is someone robbing you while you are withdrawing or something, since there isn't videovigilance or anything I think, like on banks.

The solution to that is simple. Don't be a limp dick. I have always used cash, kept it in my pocket, and I decided long ago that if someone could take it from me they deserved to keep it. As a result, I have never been robbed or pickpocketed.

Alternatively, bring a dozen friends whenever you go to get some money out.

Anyway, in-person trading on a large scale is the answer to banks getting in the way. Just a matter of how bad people want it.

What would happen if China makes bitcoin be illegal.
may be bad for the survival of the miners.

I believe in $10k BTC easily, but the main question is when. If it is within the next 2 years then great, otherwise it will be overtaken by some other crypto tech.

Bitcoin will not be replaced within 2 years....lol, lets roll out Bitcoin first ok? ore the new crypto needs to kill Lightcoin first and i dont see that happening in the comming 5 years.

If it goes to $10k it will go to $100k, we'are all early adopters.

Wishful thinking. Unless cost of production go to 100k per coin, bitcoin value will not go that high.

Looking at the past, 10k isn't too far away from current value...

You might be surprised; things move very fast in this field and who knows what will happen. I myself have my eyes on one emerging tech.

10k for 1 coin ?

NERVER :D

What if you don't have any friends?
If you live in a troubled area you are pretty much fucked. If they use a knife on you, as in "give me your Bitcoin wallet or die", what would you realistically speaking do on there? Let's be serious, Bitcoin is awesome, but enough to lose your life to some punk that wants to rob you? Im not sure about that one.

There are some exiting technologies which will place themselves side by side with bitcoins but at the moment I don't see any of them able to substitute the btc.
BUT I'm not saying it's impossible, just unlikely.

I believe in it. Why not! If we look at things all to negatively, it won't do us any good. Yeah, we should remain realistic, I know. But look at the brighter side: People have always said that bitcoin was overvalued - until its value grew by 1000%

BTC will fro sure be worth 10k UDS at some point. But question is what you will be able to buy with 10k USD at that time.

I don't see $10,000 anytime soon. If anything we might go to $1000.

Too much bad press and right now there is very little volume and we had some positive news in the last couple of weeks and not much has happened.

$600-700 is a good area. I am just glad it didn't break $300

In my opinion it won't take so much time to reach that value, 5 years from now could be a realistic prediction.
During 5 years the dollar will eventually lose some buy power but not at 10x level.

ton of person will become reach and panic sell at that value lol

We'll have panic secs at every 500 dollar increments... with a steady rise of 1 million per BTC.

it is getting tougher to believe......

(silly hairless primate that I am I want it NOW)

BTC may get to 10K someday...likely I will die from the stress of the up and down nature on how it gets there....

Searing

 

What tech?  8)