Is there any possibility to hit the BTC price @ $16666.66 ?

[pooya87]

reaching 16K$ is not an easy mark to reach for bitcoin.
after the first upcoming halving is 2016 the price might start going up and make another bobble but to reach any bigger bubble it needs some major adoptation and investments which i don't see happening anytime soon.

[eerygarden]

It could reach that value. It is becoming more scarce but i am not sure about the rate of new users adopting bitcoin.

Cold storage is still too technical and whilst the trezor sounds good, I am not so sure it will go mainstream. I think it needs to be shrunk down to a size that you can fit in to your wallet. Its a bit like the cell phones of the 80s for now, but a great breakthrough non the less.

If tescos and its foreign equivalants would integrate such a device in to their club cards then mass adoption will follow for sure. Its all very plausible to me. Time will tell.

I predict 2016 for $16666.66/BTC. Forever the optimist

[manselr]

A 5 figure BTC will be a mathematical certainty 10 years from now, if adoption goes as planned. So yes, it's reasonable to say we will go through that price (not sure why you choose that particular number tho) and beyond. We consider now anything beyond 1000 an exageration because our brains are shaped like that, to not see beyond established horizons, thats why tons of morons will sell all of their wallets when we are near ATH again, which will translate in a more even distribution of the Bitcoin total supply among its users as well.

[techgeek]

Yeah, I`ll probably get hit by a bus or something during the time duration.

Or probably get into some natural causes for me to enjoy this coin..

[azguard]

A 5 figure BTC will be a mathematical certainty 10 years from now, if adoption goes as planned. So yes, it's reasonable to say we will go through that price (not sure why you choose that particular number tho) and beyond. We consider now anything beyond 1000 an exageration because our brains are shaped like that, to not see beyond established horizons, thats why tons of morons will sell all of their wallets when we are near ATH again, which will translate in a more even distribution of the Bitcoin total supply among its users as well.

Thinking more 15 year for price to go with 5 digits. But if goes ass planned maybe less then 10. Lots of think need to happen in certain order for price to go up.

[NorrisK]

Price of bitcoin doesn't necessarily need to go up by that much to facilitate the money poured in the system. The money is used to build services on top of the blockchain, not to pump bitcoin..

[Ahab_Hunter_of_BearWhale]

A 5 figure BTC will be a mathematical certainty 10 years from now, if adoption goes as planned. So yes, it's reasonable to say we will go through that price (not sure why you choose that particular number tho) and beyond. We consider now anything beyond 1000 an exageration because our brains are shaped like that, to not see beyond established horizons, thats why tons of morons will sell all of their wallets when we are near ATH again, which will translate in a more even distribution of the Bitcoin total supply among its users as well.

It's very hard for people to grasp really big numbers and the scale of the systems they represent. If Bitcoin catches on in any one major industry - merchant payments (online or physical), remitances, used as a fund transfer system by banks or institutions (which is already being worked on and tried), as a store of value rooted in scarcity similar to gold or even the backbone of a highly secure database/information storage or usage system then the price of a single Bitcoin will be Alot higher than it is currently.

Today people are still talking about the Bitcoin system, and holding value in that system purely by talking about Bitcoins, the whole unit. In the future people will talk about those 100,000,000 or 100 million sub units - satoshi's - that will be the value that people will transfer. Framing the conversation around the value of Satoshi's can start to help change your view about where the price may go in the future with wider adoption.

[hayabusa911]

I'm going to have to go with D on this one!

[coinableS]

Assuming it's still alive by then, 2024-2025 will be the most interesting phase to witness.

By that point 90% of coins will be mined and annual inflation will be below 2%. If there is sustained and increasing demand the price can only go one way.

People will look back and gape at a time when millions of new coins were arriving every year. 

Very true, in 2025 everyone will wish they had a time machine to go back to now so they could own at least 1 bitcoin. What's crazy that time period is only 9 years away, and there will be 3 halvings in that period, 2016, 2020, and 2024. The reward will only be around 3 bitcoin per block. It will be interesting to watch this unfold over the next decade.

[trinaldao]

Is there any possibility to hit the BTC price @ $16666.66 ?

If it is possible then when it'll happened ?

A. 2025
B. 2035
C. 2045
D. ?

posible hit that rate if all people holding bitcoin 

[Biodom]

Assuming it's still alive by then, 2024-2025 will be the most interesting phase to witness.

By that point 90% of coins will be mined and annual inflation will be below 2%. If there is sustained and increasing demand the price can only go one way.

People will look back and gape at a time when millions of new coins were arriving every year.  

Very true, in 2025 everyone will wish they had a time machine to go back to now so they could own at least 1 bitcoin. What's crazy that time period is only 9 years away, and there will be 3 halvings in that period, 2016, 2020, and 2024. The reward will only be around 3 bitcoin per block. It will be interesting to watch this unfold over the next decade.

...assuming that there will be a lot of usage and ONLY 21 mil bitcoins
However, if 1mb block limit can be overturned so easily, who is to say that 21 mil limit is untouchable if miners will decide otherwise?

[gentlemand]

...assuming that there will be a lot of usage and ONLY 21 mil bitcoins
However, if 1mb block limit can be overturned so easily, who is to say that 21 mil limit is untouchable if miners will decide otherwise?

The block limit was a temporary measure implemented a long time ago. 21 mil is one of the very cornerstones of the whole thing.

Apart from a few special cases, most agree that something has to be done about transaction limits. I haven't heard a squeak about raising the total number of coins.

If the subject ever was raised semi seriously I assume it'll be a long way down the line and even more controversial than it would be now.

[coinableS]

Assuming it's still alive by then, 2024-2025 will be the most interesting phase to witness.

By that point 90% of coins will be mined and annual inflation will be below 2%. If there is sustained and increasing demand the price can only go one way.

People will look back and gape at a time when millions of new coins were arriving every year.  

Very true, in 2025 everyone will wish they had a time machine to go back to now so they could own at least 1 bitcoin. What's crazy that time period is only 9 years away, and there will be 3 halvings in that period, 2016, 2020, and 2024. The reward will only be around 3 bitcoin per block. It will be interesting to watch this unfold over the next decade.

...assuming that there will be a lot of usage and ONLY 21 mil bitcoins
However, if 1mb block limit can be overturned so easily, who is to say that 21 mil limit is untouchable if miners will decide otherwise?

You mean the temporary 1 MB block restriction that was only added after the fact, and is now preparing to be lifted as planned?

[Biodom]

...assuming that there will be a lot of usage and ONLY 21 mil bitcoins
However, if 1mb block limit can be overturned so easily, who is to say that 21 mil limit is untouchable if miners will decide otherwise?

The block limit was a temporary measure implemented a long time ago. 21 mil is one of the very cornerstones of the whole thing.

Apart from a few special cases, most agree that something has to be done about transaction limits. I haven't heard a squeak about raising the total number of coins.

If the subject ever was raised semi seriously I assume it'll be a long way down the line and even more controversial than it would be now.

i see interested parties at some point raising the issue initially under the guise of "lost coins", which is a somewhat equivalent of "wear and tear".
apparently, those 'lost' coins are a significant % of the total already.

[gentlemand]

i see interested parties at some point raising the issue initially under the guise of "lost coins", which is a somewhat equivalent of "wear and tear".
apparently, those 'lost' coins are a significant % of the total already.

How would we ever know what was lost or what was simply dormant?

I agree it's a possibility but it would be the start of a slippery slope that would have most sprinting for the exit. If you can't depend on the core principles then you're not gonna stick around for other meddlings.

It'll be fascinating to see what the future power struggles will consist of. It could be horrifically messy or settle down for good. Not only is it the world's most powerful computing experiment, it might also become the world's largest social experiment in consensus or fatal lack thereof.

[Biodom]

i see interested parties at some point raising the issue initially under the guise of "lost coins", which is a somewhat equivalent of "wear and tear".
apparently, those 'lost' coins are a significant % of the total already.

How would we ever know what was lost or what was simply dormant?

I agree it's a possibility but it would be the start of a slippery slope that would have most sprinting for the exit. If you can't depend on the core principles then you're not gonna stick around for other meddlings.

It'll be fascinating to see what the future power struggles will consist of. It could be horrifically messy or settle down for good. Not only is it the world's most powerful computing experiment, it might also become the world's largest social experiment in consensus or fatal lack thereof.

I basically agree with your interpretation. Looking at how 'easy' it was to force through a major change re the size of a block in a very short timeframe, I don't see that 21 mil will also escape a challenge at some time and we shall see what happens then (consensus or a fatal lack thereof). In fact, before such challenge we would never know how solid the consensus is/will be.

[Cconvert2G36]

I basically agree with your interpretation. Looking at how 'easy' it was to force through a major change re the size of a block in a very short timeframe, I don't see that 21 mil will also escape a challenge at some time and we shall see what happens then (consensus or a fatal lack thereof). In fact, before such challenge we would never know how solid the consensus is/will be.

No change has happened, so we don't know how "easy" it may or not be. But it reeks of hyperbole to say that simple transaction throughput capacity is an issue on the same level as the 2.1 quadrillion satoshi. There's a certain sort of mutually assured destruction incentive structure at work on that one.

[azguard]

Assuming it's still alive by then, 2024-2025 will be the most interesting phase to witness.

By that point 90% of coins will be mined and annual inflation will be below 2%. If there is sustained and increasing demand the price can only go one way.

People will look back and gape at a time when millions of new coins were arriving every year. 

Very true, in 2025 everyone will wish they had a time machine to go back to now so they could own at least 1 bitcoin. What's crazy that time period is only 9 years away, and there will be 3 halvings in that period, 2016, 2020, and 2024. The reward will only be around 3 bitcoin per block. It will be interesting to watch this unfold over the next decade.

sometimes i wish i had time machine in 2013 when was going up so rapidly. but ass you said 3 halving price may go to 5 digits it doesnt need to be 16k think that 10k would be great.

[mladen00]

Imho,
D for sure!

[okae]

ofc that this is possible even more faster than ppl is thinking and not only to $16666.66, much more.

is just a question of time and i think in the next 5-10 years this could happend easy.

so my vote is for 2020-2025