Benjig
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May 20, 2015, 07:39:55 PM |
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Time.. It's just a matter of time before Bitcoin prices Boom! like pre 2013.
But 23,000 each? Hope eternal life elixir is discovered before because time is getting over for me
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Natalia_AnatolioPAMM
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May 20, 2015, 07:47:48 PM |
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Probably about 100 million dollars spent on bitcoins each day.
yep, the only way
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rjclarke2000
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May 20, 2015, 07:57:27 PM |
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Is pecunia creating new accounts to answer/back up his/her previous posts?
Something fishy is going on.
Anyway, good thread elux. This is the feel good thread where we can but wait and see. I feel with the infrastructure being built we will see something great in the coming years.
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spazzdla
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May 20, 2015, 08:22:25 PM |
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Bitcoin today could be the best investment opportunity since... Bitcoin pre 2013. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) DING DING DING DING DING DING DING. If you're going to risk wealth on BTC, right now is the time. Zero or hero is where we are going.
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mrhelpful
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May 20, 2015, 09:48:14 PM |
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Easy for Chamath Palihapitiya to say that, when hes already hit his billions with facebook.
And owning a basketball team, go warriors!
But, that quote theres trillions up for grabs was the mention of his area in focus with techcrunches startup quality on boundaries where they arent discovered, and where people should be aiming for.
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Pab
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May 20, 2015, 10:04:51 PM |
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Yes bitcoin price can be 23000$ or 100000$ but whatwill be value of usdollar that time,what will be possible to buy for 1dollar,in the time of Great Depression sutcase of paper money was worth pocket of matches And bitcoin,i think we will have new technology digital currencys not based on costly mining
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pleaseexplain
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May 20, 2015, 11:25:20 PM |
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simply holding might work based on past record. if you bought in oct 19 2011 you got a bitcoin for $2.27 so now you have 100x your buy in price. lets assume the growth rate flattens out and it takes now 3 times along to go up the same way means holding for about 9 years.
considering bitcoin adoption is still effectively nil ie demand is miniscule it is entirely possible to get there and may be sooner. Sure bitcoin is essentially an all or nothing stock but if you think it is going to die you would not be buying at all - but if you are a believer then things look bright.
be patient if you are only buying in now
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techgeek
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May 21, 2015, 02:29:05 AM |
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I would understand the whole great depression comparison, but it cant be compared exactly since its being printed w. whatever amount printed nesscesary.
Instead bitcoin is a limited volume amount, so its not quite similar but the overall concept idea almost similar.
This goes based on how 1915s dollar value to till today how much it would be worth.
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tabnloz
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May 21, 2015, 05:31:23 AM |
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it's like trying to fill a bucket with big rocks and small stones; you gotta get the big rocks in first then let the small stones fill in the gaps (meaning build out the infrastructure, rails etc and then - hopefully - the users and retailers etc flesh it all out).
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azguard
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May 21, 2015, 09:34:20 AM |
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Probably about 100 million dollars spent on bitcoins each day.
Actually a country making it an official currency would probably push BTC to a new high. There's a lot of things that could add to the process. Bitcoin becoming a world reserve currency would definitely make it worth 100 times more ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) This will not happens any time soon. Most of countries will try to use that in advantage to make more money they dont want to risk anything for this. Yes it will push price but i dont think that just one country would do anything need more at least 10.
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randy8777
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May 21, 2015, 09:42:39 AM |
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Probably about 100 million dollars spent on bitcoins each day.
Actually a country making it an official currency would probably push BTC to a new high. There's a lot of things that could add to the process. Bitcoin becoming a world reserve currency would definitely make it worth 100 times more ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) This will not happens any time soon. Most of countries will try to use that in advantage to make more money they dont want to risk anything for this. Yes it will push price but i dont think that just one country would do anything need more at least 10. any time soon? it will never happen. tell me why would a country use bitcoin where they don't have any control, while they can create their own and have the control they so love.
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Amph
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May 21, 2015, 05:01:37 PM |
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Probably about 100 million dollars spent on bitcoins each day.
yep, the only way with simple word you can say a 100x demand, would cut it or x10 of the same thing that caused the 1200 peak, x10 willy bot + mass chinese
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elux (OP)
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May 21, 2015, 05:40:34 PM |
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100X ago:It's quiet... *too* quiet !
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Gervais
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May 21, 2015, 05:46:40 PM |
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What made it go up 100x before? I think the only way we'll see that sort of rush or increase is if something massive happens like a huge corporation or ginormous industry gets involved. Remittance, gambling, sex/adult/porn, and oil are all massive industries that could get on board.
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WhatTheGox
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May 21, 2015, 06:17:13 PM |
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Bitcoin at 23,000 USD, yes please. It all looks & sounds very nice but I'm beginning to lose hope that I'll live to see prices like that. I hope it happens, it'll make us all very wealthy but my confidence in that kind of rise is draining by the day. You know its the bottom when you and others are beginning to lose hope, that is exactly the correct emotion for the price right now. Think about how many big names are invested in keeping this thing alive and then think about how it can really only go upwards.
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briguy37
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May 21, 2015, 06:39:32 PM |
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To go to 100x, that means about $23,000.
First, those with bitcoins must have greater incentive to keep them in bitcoins rather than exchange them for fiat. This means that the reasons to move back to fiat are greatly reduced/eliminated. I'm thinking if major credit cards started accepting bitcoin-based payments that might do the trick (even if they converted to fiat when you paid them, this means bitcoin savings accounts could replace bank savings accounts for the general public without loss of functionality when you need to buy with "cash").
That might be enough, but assuming that happens there is still an influx of mined coins that have to be accounted for. At the current 3600 BTC/day, $23,000/BTC, that's $82,800,000 worth of coins being mined each day, or $30.24 billion/year.
For comparison, about 2500 tons of gold is mined each year, which equates to about 80 million ounces. At $1,205/ounce, that's $96.4 billion. So Bitcoin would have to be about 1/3 as popular as gold if it were to happen right now.
However, it gets easier to maintain the price each time the mining rate halves. Here's the amount per year after the upcoming halvings needed to offset a $23,000/BTC price:
current - $30.24 billion/year 1/3 as popular as gold 2016 - $15.12 billion/year 1/6 as popular as gold 2020 - $7.56 billion/year 1/12 as popular as gold 2024 - $3.78 billion/year 1/24 as popular as gold 2028 - $1.89 billion/year 1/48 as popular as gold 2032 - $0.95 billion/year 1/96 as popular as gold
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gentlemand
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May 21, 2015, 06:47:56 PM |
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For comparison, about 2500 tons of gold is mined each year, which equates to about 80 million ounces. At $1,205/ounce, that's $96.4 billion. So Bitcoin would have to be about 1/3 as popular as gold if it were to happen right now.
That's an interesting statistic. I often wonder what the ratio is of private vs institutional/governmental buying when it comes to gold. I only know of one person who admits to any involvement in gold.
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Fabrizio89
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May 21, 2015, 07:50:30 PM |
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100x is kinda unrealistic, but it would simply require a part of the financial system to use Bitcoin in a way, not necessarily to take over though.
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txbtc
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May 21, 2015, 09:18:24 PM |
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Each bubble has made the previous bubble look like a small blip on the all-time value chart.
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GreenStox
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May 21, 2015, 09:21:23 PM |
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It will take a few trillion $ that i`m sure the banksters can spare. Ask the IMF to put some money in Bitcoin and problem resolved ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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