What Will it Take For BTC to Reach $1000?

[Benjig]

I think Bitcoin is just like any other currency. How does a currency rise or fall? It needs basic supply and demand, investments, and exchange. Bitcoin it self needs to be more and more globalized for people to use. The more people using it, means more people are going to be trading and exchanging with bitcoin.  

Agree, needs time, not a few years, lot of time. Some facts:

Mining will never stop, every 2 years computer processing technology gets twice faster and twice smaller.
With oil exhaustion we'll enter an age of New energy forms, some free, some cheaper, some more efficient.

Population continues its grow, more shit to the planet but more Bitcoin demand

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[gripflierGO]

I think Bitcoin is just like any other currency. How does a currency rise or fall? It needs basic supply and demand, investments, and exchange. Bitcoin it self needs to be more and more globalized for people to use. The more people using it, means more people are going to be trading and exchanging with bitcoin.  

Agree, needs time, not a few years, lot of time. Some facts:

Mining will never stop, every 2 years computer processing technology gets twice faster and twice smaller.
With oil exhaustion we'll enter an age of New energy forms, some free, some cheaper, some more efficient.

Population continues its grow, more shit to the planet but more Bitcoin demand

Demand will go high only if the awareness level is high. People should start accepting the bitcoin and I believe the present users of bitcoin should educate those people who are still not aware about the bitcoin once people starts using it I think the value can go beyond $1000.

[cellard]

I think Bitcoin is just like any other currency. How does a currency rise or fall? It needs basic supply and demand, investments, and exchange. Bitcoin it self needs to be more and more globalized for people to use. The more people using it, means more people are going to be trading and exchanging with bitcoin.  

Agree, needs time, not a few years, lot of time. Some facts:

Mining will never stop, every 2 years computer processing technology gets twice faster and twice smaller.
With oil exhaustion we'll enter an age of New energy forms, some free, some cheaper, some more efficient.

Population continues its grow, more shit to the planet but more Bitcoin demand

We need to solve the blocksize stuff, otherwise we will never have full trust. Every hard fork is a big doubt in investor's minds and in holders wallets. We need to make it scalable infinitely, its the only way to make it big.

[AtheistAKASaneBrain]

I think Bitcoin is just like any other currency. How does a currency rise or fall? It needs basic supply and demand, investments, and exchange. Bitcoin it self needs to be more and more globalized for people to use. The more people using it, means more people are going to be trading and exchanging with bitcoin.  

Agree, needs time, not a few years, lot of time. Some facts:

Mining will never stop, every 2 years computer processing technology gets twice faster and twice smaller.
With oil exhaustion we'll enter an age of New energy forms, some free, some cheaper, some more efficient.

Population continues its grow, more shit to the planet but more Bitcoin demand

We need to solve the blocksize stuff, otherwise we will never have full trust. Every hard fork is a big doubt in investor's minds and in holders wallets. We need to make it scalable infinitely, its the only way to make it big.

I don't think it will be solved anytime soon judging by the ongoing discussion. It has actually been going on since 2011 and a consensus was never reached.

[virtfund]

 To me it seems unlikely that the BTC price will go all the way back above $1000 until it finds a way to become "sexy" to mainstream finance; probably around the time that news outlet are telling stories about how everyday consumers have begun to useuse the blockchain "under the hood" in financial apps.

[muhrohmat]

well the rarity of bit coin must rise in mining the diff must rise and the summer must come for more people to gather those coins besides that the markets and sales sites of big corporations like apple and microsoft must come to a use of bit coin in order for it to be a aceptable currency in digital may rise to 500 dollars but 1000 only like 2 years form now day 4 june 2015

[Amph]

I think Bitcoin is just like any other currency. How does a currency rise or fall? It needs basic supply and demand, investments, and exchange. Bitcoin it self needs to be more and more globalized for people to use. The more people using it, means more people are going to be trading and exchanging with bitcoin.  

Agree, needs time, not a few years, lot of time. Some facts:

Mining will never stop, every 2 years computer processing technology gets twice faster and twice smaller.
With oil exhaustion we'll enter an age of New energy forms, some free, some cheaper, some more efficient.

Population continues its grow, more shit to the planet but more Bitcoin demand

We need to solve the blocksize stuff, otherwise we will never have full trust. Every hard fork is a big doubt in investor's minds and in holders wallets. We need to make it scalable infinitely, its the only way to make it big.

I don't think it will be solved anytime soon judging by the ongoing discussion. It has actually been going on since 2011 and a consensus was never reached.

back then there were only proposals about it, now it's getting serious, we are nearly the saturation of the 1 mb at our disposal, it will be solved by the early next year, until then we can't grasp 1k or any better price of course

[zeraTunerse]

To me it seems unlikely that the BTC price will go all the way back above $1000 until it finds a way to become "sexy" to mainstream finance; probably around the time that news outlet are telling stories about how everyday consumers have begun to useuse the blockchain "under the hood" in financial apps.

thats true but it also seek the acceptance from the people,government and the banking system who stands in the support of bitcoin or else i dont think it can reach upto this mark if there is mass adoption and acceptance from society and government it can go beyond $1000.

[photon_coin]

i was thinking about this question,

most people here have the 'legit' answers , user adoption, ect...

still -------------- what got it there the last time ?

a good ole fashioned PUMP   


I am not in favor of this since wild changes in peoples perception of value can damage the image of btc.


But it sure as hell got the job done last time.

[Bitcoined-Me]

Mainstream user adoption with a safer/simpler way for non-tech savvy people to buy bitcoin.

[gripflierGO]

To me it seems unlikely that the BTC price will go all the way back above $1000 until it finds a way to become "sexy" to mainstream finance; probably around the time that news outlet are telling stories about how everyday consumers have begun to useuse the blockchain "under the hood" in financial apps.

thats true but it also seek the acceptance from the people,government and the banking system who stands in the support of bitcoin or else i dont think it can reach upto this mark if there is mass adoption and acceptance from society and government it can go beyond $1000.

It is really difficult at present to think of that moment which can take the value of bitcoin above $1000 and looking at the present market situation I don't think it is simply possible as it will take great effort from the society to know about the bitcoin and adoption would be a difficult too for those who are not tech friendly.

[hunnaryb]

Mainstream user adoption with a safer/simpler way for non-tech savvy people to buy bitcoin.

It is very difficult to convince non-tech people to adopt something new that they haven't heard or used before. They would rather prefer to stay away from it or would choose some alternate option for investment on which they can trust on so the mass adoption is very necessary to reach it upto $1000 or more.

[Amph]

i was thinking about this question,

most people here have the 'legit' answers , user adoption, ect...

still -------------- what got it there the last time ?

a good ole fashioned PUMP   


I am not in favor of this since wild changes in peoples perception of value can damage the image of btc.


But it sure as hell got the job done last time.

you got it, a pump is the only thing that can boost bitcoin price and force adoption in a short time, yeah it's not a natural grow, but what it really matter is what will happen after the pump
 
if the price will not crash like the last time then a pump would be ideal now, because besides helping adoption will raise the confidence of people in bitcoin, but as i said, only in the case there will not be a big crash after it

[manselr]

Mainstream user adoption with a safer/simpler way for non-tech savvy people to buy bitcoin.

It is very difficult to convince non-tech people to adopt something new that they haven't heard or used before. They would rather prefer to stay away from it or would choose some alternate option for investment on which they can trust on so the mass adoption is very necessary to reach it upto $1000 or more.

This is a basic fact of life. It's always hard to try to get people out of your confort zone. It happens to everyone. With the internet it was the same. How many people missed lifetime boats because of that?
But history will put Bitcoin where it belongs regardless what the common folk think about it now.

[BIT-Sharon]

When there is no barrier for the global economy to come to a situation that any goods can be shipped to any country without any difficulties, such as transact with Bitcoin.

[legendster]

The prevailing mindset is that when the BTC production limit is reached the price will skyrocket within the hour.
But think about it.

Right now any random person can invest into a mining gear & 'create' btc the moment this 'creation' process ceases to exist the supply of the BTC in the market will dip significantly, yes this is the best point where the price can skyrocket, but due to limited supply traders who already have bitcoins would have a tendency of hoarding the coins rather than selling.

It would be only a matter of time by when the exchanges and indie traders run out of their stocks and the hoarders are left with the big pots. Result : The lack of availability of BTC in the market would reduce it's use and could actually 'pop the price bubble' caused by the supply choke.

The most crucial part which makes BTC viable as a currency and as a store of value is it's daily transactional capacity, the moment the number of transactions reduce would be the moment when BTC itself will start to lose it's importance in the public eye.

[mikaljan]

I'm pretty sure someone already controls the price

[Searing]

adoption which would take between 7-10 years

China ban is lifted .... Russian ban is lifted

or some kick ass new sidechain app that will shake things up

most likely in the next year if we are very very luck BTC will creep just above 300 usd ...but imho that is a stretch
with all the drama dev dislcord on 20mb or not block size etc etc

 

[arallmuus]

It is very difficult to convince non-tech people to adopt something new that they haven't heard or used before.

It is actually much harder to convince them that a virtual coins on their computer have a value of $200~ each.

you got it, a pump is the only thing that can boost bitcoin price and force adoption in a short time, yeah it's not a natural grow, but what it really matter is what will happen after the pump

What will happen after a pump is a dump. A pump will always be followed by a dump afterward basically because some people are buying at the peak point which makes them cut their lost by dumping it back. A pump cant force adoption but a stable higher price would

The prevailing mindset is that when the BTC production limit is reached the price will skyrocket within the hour.

That would be in about 100 years later and all of us would be not around anymore by that time

I'm pretty sure someone already controls the price

Indeed, a whale or a group of whale controls it, could be the chinese (no fact about this, just my asumption)

China ban is lifted .... Russian ban is lifted

Even if the ban isnt lifted, most people from the country are still using and trading it as usual though

most likely in the next year if we are very very luck BTC will creep just above 300 usd ...but imho that is a stretch
with all the drama dev dislcord on 20mb or not block size etc etc

Next year will be the halving year, it is not yet clear what will happen after the next halving as the price might skyrocket or plummet to the ground instead. Also if the 20mb receive the consensus, the price will be decreasing alot

[Searing]

It is very difficult to convince non-tech people to adopt something new that they haven't heard or used before.

It is actually much harder to convince them that a virtual coins on their computer have a value of $200~ each.

you got it, a pump is the only thing that can boost bitcoin price and force adoption in a short time, yeah it's not a natural grow, but what it really matter is what will happen after the pump

What will happen after a pump is a dump. A pump will always be followed by a dump afterward basically because some people are buying at the peak point which makes them cut their lost by dumping it back. A pump cant force adoption but a stable higher price would

The prevailing mindset is that when the BTC production limit is reached the price will skyrocket within the hour.

That would be in about 100 years later and all of us would be not around anymore by that time

I'm pretty sure someone already controls the price

Indeed, a whale or a group of whale controls it, could be the chinese (no fact about this, just my asumption)

China ban is lifted .... Russian ban is lifted

Even if the ban isnt lifted, most people from the country are still using and trading it as usual though

most likely in the next year if we are very very luck BTC will creep just above 300 usd ...but imho that is a stretch
with all the drama dev dislcord on 20mb or not block size etc etc

Next year will be the halving year, it is not yet clear what will happen after the next halving as the price might skyrocket or plummet to the ground instead. Also if the 20mb receive the consensus, the price will be decreasing alot

er to your last point....assuming 20mb consensus is reached....why would the price drop as a result (use small words this whole block size thing makes my head hurt)

and how would or could this differ should they say reach consensus on say an 8mb jump instead?

thanks