My guess is that if this happened, bitcoin would be all over the mainstream media, because then everybody would have to take it seriously. With 6M bitcoins you would need a price of 83, and with 7M you would need a price of 71,5 to create a 500M economy.

The steep appreciation of Netscape stock after its IPO 1995 started the dotcom bubble. What could be a similar event for bitcoin?

My point is that people should celebrate the fact that by using bitcoin they can escape government regulations. The other day Jeff Garzik was defending bitcoin by saying that it's not anonymous and if you buy drugs with it, the government can still find you. http://www.cbsnews.com/8301-504943_162-20069780-10391715.html

People escaping government regulations by using bitcoin is not a bug, it's a feature, and advocates of bitcoin should understand it.

I think bitcoin advocates should stop defending it against allegations it can be used to buy illegal drugs. There's nothing wrong about buying drugs with bitcoin. I wouldn't recommend taking illegal drugs, but it's not the government's business to tell us what we can consume. People die all the time from abusing legal drugs (Michael Jackson, Heath Ledger, Derek Boogaard) and nobody proposes to ban them. If the idea behind bitcoin is to liberate people from the government's monopoly on legal tender, we should also celebrate the liberation from harmful government regulation.

full disclosure: I don't drink any alcohol, I don't smoke, and I have never consumed any illegal drug.

What kind of personal identification would he need? Why does he need personal identification, is it becauseof US legislation? If I gave it to him, would I be able to withdraw any amount?

Is it true?

It would be just a 13fold increase from the previous level, but it seems quite unlikely to me.

It seems to me that we are on the brink of bitcoin becoming widely known to the mainstream public. If bitcoin was the internet, it was in the 1970s a year ago, and it's 1993 now. Next months could be 1995-1997.

That's the price I need to sell at to have "FU money". Theoretically it's just a 13fold increase from here, which sounds highly probable based on past performance. However, I wonder what will happen once it goes over 100. Will the mainstream media start to write about it massively and cause a spike to 500-1000? Or will people consider it to crazy to pay 100 dollars for some unproven virtual currency and price appreciation will stop?