This is unlikely unless Bitcoin undergoes serious improvements which might require a few hard forks in the interim. To reach that price ($100,000 or anywhere of that order), Bitcoin adoption should expand dramatically. Since its current adoption is tiny, with only a few hundred thousand people actively using it, this per se is not totally impossible. So, the adoption could hypothetically increase to a few dozen million users in a relatively short period of time, say, in a couple of years, for example, due to a major currency crash or something to that tune. And then such prices could be potentially reachable...

But Bitcoin is simply not yet ready for such level of adoption

If you haven't already seen they are getting ready for the "tax implementation".

https://bitcointalk.org/index.php?topic=1590009.0

I called it how it was and low and behold it is starting to creep in.


So you want to know about the beneficiaries?

They are the ones that have been trained from the ground up on how everything works.

They are the ones that are to inherit the new financial paradigm.

Bitcoin elites know this all too well.

They preyed (much like vampires) upon the desire the beneficiaries have to make things more balanced.

That is why the decentralization mask was so heavily sold.

In the end though we now see what Bitcoin has become.

-"Innovative" altcoins by the truck load
-centralized exchanges
-centralized news
-buy in from large financial institutions

Exactly the opposite of what it was supposed to be.

Many people that have bought into Bitcoin are complacent about cleaning out the greedy germs.

No one wants to go against the flow to make things better because they don't want their investment to take a hit.

So they cheer lead till it hurts, wait for an increase, and get the hell out of dodge.

It is the epitome of selfishness on the highest order.

Bitcoin will never earn the trust of any society operating this way.

Last time I checked the world wasn't very fond of central banking type systems.

Acting like one isn't going to get this thing very far.

lol seems you have the wrong hat on today.

yet dynamic blocksize implementations have been publicly released AND RUNNING since last year..
but took core a 10 months to REWRITE their entire implementation.

cores implementation is not just a simple patch, it was a whole rewrite.
i really think its time you learn C++


firstly your playing semantics.. segwit is a BLOAT size increase(4mb). with a side effect of capacity increase (1.8mb-2.1mb)
the 4mb weight limit has no correlation to capacity. the base block and witness does..
which is having a one time side effect on capacity increase, but cannot scale. EG you cannot re segwit a segwit, so has nothing to do with scaling. its a one time boost. stop over selling it.

secondly your right segwit doesnt mean moving txs to LN. (but your just twisting 'why' its not directly involved with LN)
much like seeing a baby take its first step doesnt mean all babies should be entered into a cities marathon race event.

but without being able to take a certain step early on, marathons in the future would never happen.

lets atleast not think that marathons are made compulsory for anyone able to walk in the future.
lets atleast not think LN is compulsory for anyone able to use bitcoin in the future.

so i hope i never see you in the future talk about LN as the solution to scaling. or i will have to refer you to this post to remind you

My gut says up as a result of BTC heading down. I think that is the fuel we are wiating for.

@KeyJockey -  thanks for your detailed review of the GUI. very cool  . Gonna wait for the compatable Daemon b4 trying the Windows version. Kinda glad I am at least experiencing the CLI version for a bit first too.

Yep, the sensible ones amongst us knew it'd take months for the price to feel the effects of the halvening. Only now are we seeing it reflected in the price.   

It was a similar wait for a price reaction at the last halvening.

The growing support still looks good for now but I would expect this to plateau at some point and may start going down the longer Segwit stays inactivated. So what would be the next step for Bitcoin as a whole if it is not activated? Will we see some developers of Core leaving in disappointment? That is over a year of their work that might go to waste.

Go into r/btc and actually experience these guys first hand.
It's like walking unaware into a room full of staunch feminists and SJW's. Every word you say is taken negatively. Every word you MIGHT say is defended against by a preemptive attack.
Quite funny.
So, after several coup attempts over a couple of years now, they have redefined english, new ways to think, etc. Like 1984.

Deep diving into all that (shudder) and translating back to normal english reveals a basic issue, I think.
They sincerely believe that segwit locks in a future where only layer 2 solutions to scaling are permitted.
So they think blocking it is a good thing.

But that premise is incorrect. Segwit only opens up new options, scales some, fixes bugs, etc.
It's just obvious, but I can understand the confusion coming out of that place.

I still don't understand why there are some people opposed to the SegWit implementation. Isn't it something that will make the Bitcoin ecosystem better? What are the arguments against this? Could it take more than a month for the consensus to be reached?

if ViaBTC is the last miner to update to 13.1, yes i agree they will yield

Surprised: Yes. In a sense that I would have given it <50% probability (and therefore bet against it).

Reemergence of bull market: this requires a lengthier explanation which is based on the trendline model.

The trend is adjusting itself all the time, but it already has 5 years of data, which means that the new datapoints do not change it much. I have high confidence on the predictive ability of the trend, because I believe it tells us the market-tested maximum increase rate based on infrastructure and psychological factors mainly. According to the trend, we will reach $1M in 12/2016. It is quite breathtaking speed actually.

A
Ultimate definition for a bull market is that the trendline will never be revisited. The rate of growth of bitcoin economy would have changed, which means that the trendline should be recalculated with only the new data (since 1.1.2013 for example). The new booms and busts would conform to the steeper trend and not the old (which did call the bottom in 2011, and was very good in 2013). This would mean that $1M is reached sooner than 12/2016.

B1
Intermediate1 bull market is something that would now have started, and will run its course and crash to the trendline and below sometime so far in the future that it would have been better to buy now. Such as 2011 before the bubble. This will of course affect the trendline slope to the upside, since so long time would have been spent significantly above it.

B2
Intermediate2 bull market means that we make the new ATH and go beyond, but in the aftermath visit the trendline and below such that it is advantageous to wait considering the risks and such (going below $800). The trend would be pretty much intact in this scenario. (According to the trend, we would close the year 2014 at $6,356, which means that the likely price is between $3k-$13k.)

C
Bull market is not resumed, and we will turn down before making an ATH. Likely by the end of March, there will be an event allowing purchase at $300-$400 for the nimble, and the general consensus price will be at $500s, making this price available for all.

I would currently give the odds:
A = 15%
B1 = 20%
B2 = 25%
C = 40%.

Note that there will probably be flashcrashes in the way, which gives entry points to those who believe in the bull market but don't want to commit all now.

It may be, but the fundamentals simply do not support it. There is simply no way that Bitcoin, with its 1 MB blocksize limit, can make even a minuscule dent in the cash transaction market in India no matter how many large denomination Indian rupee bills are taken out of circulation by the Indian government.

I'm so glad I bought that phone!
I think it was a moto g, and it got out in November 2013.
I bought mine in december 2013, and at that time bitcoin was at its highest point so far.
I do not know exactly how much I paid, but the bitcoin price at the moment is still beyond the price at that time.

Even now a little knowledgeable people were good to use with the help of various bitcoin wallets that were compatible with smart phones. At present people doesn't have a good understanding about the technology running behind the success of the advancing digital currency network. Soon more compatible apps might emerge over the years, so that even people who doesn't have much knowledge too can use which supports adoption.

It is very possible that the bitcoin price will be much higher in the future, it will rise faster than stock index.

$10k ? Are you sure it will go 10k ? If what you're saying is true, then all of us should have buy a few and keep till next year.... but I doubt it will go so high next year....

Understood that classic is no longer supported. But since I keep the whole multibit folder offline (on a USB thumb drive) I should be safe, correct?

The US is relatively good toward bitcoin. The only thing is sending bitcoin overseas through mail, like cash is banned too. This is why i'm pretty sure you can't transfer loaded coins across their border.

This is an interesting website. I had my smartphone last year and I bought it about $320. So for bitcoin now, it's half. 0.5 BTC for it. But that was the last year's price, now it is 0.25 BTC (If I get the best deal in selling it) but I think I won't sell it anymore. The smartphones' prices easily decline, especially for Samsung phones. Sadly for me, the website doesn't have my phone in it.

Therefore, I think I can conclude that I should buy Apple because the price doesn't decline that much to their original prices.

Right now bitcoin doesn't scale for shit, so this is a pipe dream unless something comes along to change that.