What does it take for Bitcoin to go 100X?

[traderbit]

Today is May 20, 2015. The price of Bitcoin is around $233 US Dollars.

Q: What does it take for Bitcoin to go 100X? (10 000% price increase)

A: It takes 1% of the most obvious target markets.




Bitcoin Price Model | http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html


Video | James DeAngelo - Is $100 000 Bitcoin possible?

To quote Chamath Palihapitiya: "Trillions of dollars are up for grabs. Up for grabs!"

Have a nice day!

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 

I hope this prediction will come true

[azguard]

Today is May 20, 2015. The price of Bitcoin is around $233 US Dollars.

Q: What does it take for Bitcoin to go 100X? (10 000% price increase)

A: It takes 1% of the most obvious target markets.




Bitcoin Price Model | http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html


Video | James DeAngelo - Is $100 000 Bitcoin possible?

To quote Chamath Palihapitiya: "Trillions of dollars are up for grabs. Up for grabs!"

Have a nice day!

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 

I hope this prediction will come true

it will take miracle to come for this.
but sometimes its good to have something to hope about.

realistically wont happen anytime soon, not even to go double on value btc is stable for now.

[mrhelpful]

So going based on alll these categories that bitcoin is, or will be used in.

Out of those listed, anyone has the metrics on any of those catgories that we are in 1% lol. Cause thats alot of areas to fulfill and I feel like its not even hitting 1% of any of them since its such a infant stage.

[futureofbitcoin]

So going based on alll these categories that bitcoin is, or will be used in.

Out of those listed, anyone has the metrics on any of those catgories that we are in 1% lol. Cause thats alot of areas to fulfill and I feel like its not even hitting 1% of any of them since its such a infant stage.

Uh obviously? That's why we're not at 23k per coin...

[Alley]

That type of price could not happen until several more halvings.  At current production to offset miners dumping there coins at $23k per coin, $82 million would have to go into the bitcoin economy every day to maintain that price.  I don't think so...

[gentlemand]

That type of price could not happen until several more halvings.  At current production to offset miners dumping there coins at $23k per coin, $82 million would have to go into the bitcoin economy every day to maintain that price.  I don't think so...

Hmm. Let's do some totally arbitrary and moronic mathematics that disregard reality almost completely.

If there was equal demand in every single country in the world, that works out at $418,000 of fresh expenditure per day.

You know what? For an entire planet I just about think that's doable.

[Fakhoury]

That type of price could not happen until several more halvings.  At current production to offset miners dumping there coins at $23k per coin, $82 million would have to go into the bitcoin economy every day to maintain that price.  I don't think so...

Hmm. Let's do some totally arbitrary and moronic mathematics that disregard reality almost completely.

If there was equal demand in every single country in the world, that works out at $418,000 of fresh expenditure per day.

You know what? For an entire planet I just about think that's doable.

Why reality is disregarded here ?

I see it's doable since this can be applied to the whole planet as you said.

[gentlemand]

Why reality is disregarded here ?

Because some countries are tiny and don't have a pot to piss in. That's made up for by the giant ones with economies that could dwarf the puny ones thousands of times over.

I'm constantly amazed at the disconnect certain people have with figures relating to 'real world' turnovers in the finance arena. Forex turns over more than $5 trillion every single day.

$82 million a day is not to be sniffed at. It's still chump change, even more so when you consider that there would be potential demand in every single country in the world if Bitcoin actually grew properly.

[thebigtalk]

I big big investment worth billions in a day. The significant increase will be seen in no time.

[futureofbitcoin]

Why reality is disregarded here ?

Because some countries are tiny and don't have a pot to piss in. That's made up for by the giant ones with economies that could dwarf the puny ones thousands of times over.

I'm constantly amazed at the disconnect certain people have with figures relating to 'real world' turnovers in the finance arena. Forex turns over more than $5 trillion every single day.

$82 million a day is not to be sniffed at. It's still chump change, even more so when you consider that there would be potential demand in every single country in the world if Bitcoin actually grew properly.

Most people can't even do math with small numbers, and completely fail to understand or comprehend large numbers. There was a book that was made into a movie about evolution, where a homo sapien girl was abandoned or something, and got adopted into a neanderthal tribe. The smartest one in the tribe, the chief, could only count up to 5, because that's the number of fingers he has on his hand. The girl was able to count up to 10, which really amazed the chief.

Now obviously there's a lot of fiction in that story, but I think the point can be applied here. Most people are too dumb to comprehend large numbers.

You give the example of $5 trillion vs 82 million,  but I doubt these people would understand the difference in magnitude of those numbers. In their mind, its "big number" vs "another big number".

[Fakhoury]

Why reality is disregarded here ?

Because some countries are tiny and don't have a pot to piss in. That's made up for by the giant ones with economies that could dwarf the puny ones thousands of times over.

I'm constantly amazed at the disconnect certain people have with figures relating to 'real world' turnovers in the finance arena. Forex turns over more than $5 trillion every single day.

$82 million a day is not to be sniffed at. It's still chump change, even more so when you consider that there would be potential demand in every single country in the world if Bitcoin actually grew properly.

How would Bitcoin grow in a not proper way ?

[gentlemand]

How would Bitcoin grow in a not proper way ?

Not growing properly means if the wider world can't find a genuine use for it or refuses to trust it.

All those lengthy numbers entirely depend on there being actual (and increasing) usage and demand worldwide.

Right now worldwide demand is effectively zero and a 100x rise is pure supposition.

[Fakhoury]

How would Bitcoin grow in a not proper way ?

Not growing properly means if the wider world can't find a genuine use for it or refuses to trust it.

All those lengthy numbers entirely depend on there being actual (and increasing) usage and demand worldwide.

Right now worldwide demand is effectively zero and a 100x rise is pure supposition.

Would it take around 5-10 years to enter the consumer phase ?

[Alley]

We currently can't even get $1 million a day into the economy for the price to go up.  Across the whole world!  Plain and simple we need massive massive adoption.

[gentlemand]

Would it take around 5-10 years to enter the consumer phase ?

Who knows?

I guess 5-10 years would be enough time to figure out if it was ever likely to happen. If it's still nowhere in a decade then it's unlikely to blossom after that. Satoshi themselves said that in twenty years volume will be gargantuan or nil.

You can have all the cool stuff in the world rolling out, but if it doesn't convince enough potential users then it's goodnight.

Right now the infrastructure and usability for regular folks is still tricky enough to put almost everyone off. In the coming years that'll be sorted out. Then we'll see what the world thinks of its merits or lack thereof.

[Fakhoury]

Would it take around 5-10 years to enter the consumer phase ?

Who knows?

I guess 5-10 years would be enough time to figure out if it was ever likely to happen. If it's still nowhere in a decade then it's unlikely to blossom after that. Satoshi themselves said that in twenty years volume will be gargantuan or nil.

You can have all the cool stuff in the world rolling out, but if it doesn't convince enough potential users then it's goodnight.

Right now the infrastructure and usability for regular folks is still tricky enough to put almost everyone off. In the coming years that'll be sorted out. Then we'll see what the world thinks of its merits or lack thereof.

Respect. Everything you said, makes sense.

Would halving and price increase after halving encourge more people to adopt bitcoin into their lives ?

Would the price go down after halving ? Is it possible ?

[AlexGR]

Today is May 20, 2015. The price of Bitcoin is around $233 US Dollars.

Q: What does it take for Bitcoin to go 100X? (10 000% price increase)

A: It takes 1% of the most obvious target markets.

The halving won't hurt either.

[futureofbitcoin]

Would halving and price increase after halving encourge more people to adopt bitcoin into their lives ?

Would the price go down after halving ? Is it possible ?

1. Probably not. Most people don't know anything about bitcoin, and certainly nothing about the halving. So why would that affect them? If anything, maybe people will be turned off by an increase in price, thinking it's too expensive now. There may be some new entrants looking to speculate and get rich quick. But they're not adopting bitcoin into their lives, only speculating for profit.

2. Of course it's possible. If the demand falls by a lot, the price will fall. halving isn't the only factor in determining the price, in fact, I think it's probably a very small one.

[gentlemand]

Would halving and price increase after halving encourge more people to adopt bitcoin into their lives ?

Dunno. Maybe it depends on what role the world decides to award it if it was taken to their bosom.

It's easier to make a case for it as a turbocharged digital gold than anything else. What do you think it might become?

1. Probably not. Most people don't know anything about bitcoin, and certainly nothing about the halving. So why would that affect them? If anything, maybe people will be turned off by an increase in price, thinking it's too expensive now. There may be some new entrants looking to speculate and get rich quick. But they're not adopting bitcoin into their lives, only speculating for profit.

Aye. Most of that would be far over the average user's head.

2. Of course it's possible. If the demand falls by a lot, the price will fall. halving isn't the only factor in determining the price, in fact, I think it's probably a very small one.

Yup. It all hinges on demand. If that never arrives then everything else is irrelevant.

[Q7]

I would say the offshore deposits will have the most significant impact if we want to see the price going up insanely one day. Imagine tax dodgers moving around the fund and practically these people would not mind paying whatever price is shown on the screen as long as the money goes through to its intended account and fulfilling its objective.