jackg (OP)
Copper Member
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Activity: 2856
Merit: 3071
https://bit.ly/387FXHi lightning theory
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August 28, 2015, 03:26:11 PM |
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Not focussing on the actual limits of bitcoins and how one bitcoin has been set limits of many millions of pounds.
What is the potential for the bitcoin price in the future?
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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LiteCoinGuy
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Merit: 1010
In Satoshi I Trust
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August 28, 2015, 03:30:19 PM |
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Slunt
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Activity: 59
Merit: 10
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August 28, 2015, 04:10:17 PM |
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Not focussing on the actual limits of bitcoins and how one bitcoin has been set limits of many millions of pounds.
What is the potential for the bitcoin price in the future?
What do you mean by the bolded part? Regarding the second line nobody knows the potential, that's up to what potential you see in it. 1 bitcoin could be worth thousands, tens of thosands, a million, or zero or close to it. That's part of the fun. |
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g-unit
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August 28, 2015, 04:14:37 PM |
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Between $150 and $5 million plus.
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jackg (OP)
Copper Member
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Activity: 2856
Merit: 3071
https://bit.ly/387FXHi lightning theory
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August 28, 2015, 04:23:10 PM |
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Not focussing on the actual limits of bitcoins and how one bitcoin has been set limits of many millions of pounds.
What is the potential for the bitcoin price in the future?
What do you mean by the bolded part? Regarding the second line nobody knows the potential, that's up to what potential you see in it. 1 bitcoin could be worth thousands, tens of thosands, a million, or zero or close to it. That's part of the fun. I have read some websites that suggests that there was a cap on the bitcoin price of around $1000000000 and caps on the dogecoin price at $15000000. Howether, not sure if these are legit and they have changed in the past! |
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RustyNomad
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August 28, 2015, 04:26:27 PM |
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I have read some websites that suggests that there was a cap on the bitcoin price of around $1000000000 and caps on the dogecoin price at $15000000. Howether, not sure if these are legit and they have changed in the past!
There is no 'cap' on the price of bitcoin. The price of bitcoin is determined by the market and not by its code. |
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jackg (OP)
Copper Member
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Activity: 2856
Merit: 3071
https://bit.ly/387FXHi lightning theory
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August 28, 2015, 06:15:34 PM |
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I have read some websites that suggests that there was a cap on the bitcoin price of around $1000000000 and caps on the dogecoin price at $15000000. Howether, not sure if these are legit and they have changed in the past!
There is no 'cap' on the price of bitcoin. The price of bitcoin is determined by the market and not by its code. What does the "market cap" resemble? |
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gentlemand
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Welt Am Draht
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August 28, 2015, 06:44:39 PM |
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What does the "market cap" resemble?
Taking that literally the market capitalisation is the total number of coins times the current price. It's a really shitty measure as if one coin is sold for $1 million to someone with lots of dollars and a brain injury that means the market cap is in the trillions. Until the next coin sells for a few hundred dollars. There's no limit to how high or low the price can be. In 2020 there's a good chance it'll be zero. There's another chance it'll be in the tens of thousands. You gotta decide for yourself where it might head. This is a fun tool - http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html |
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jackg (OP)
Copper Member
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Activity: 2856
Merit: 3071
https://bit.ly/387FXHi lightning theory
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August 28, 2015, 08:58:01 PM |
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What does the "market cap" resemble?
Taking that literally the market capitalisation is the total number of coins times the current price. It's a really shitty measure as if one coin is sold for $1 million to someone with lots of dollars and a brain injury that means the market cap is in the trillions. Until the next coin sells for a few hundred dollars. There's no limit to how high or low the price can be. In 2020 there's a good chance it'll be zero. There's another chance it'll be in the tens of thousands. You gotta decide for yourself where it might head. This is a fun tool - http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.htmlThat tool was quite useful, Thankyou, to see the affects of different potential problemas on bitcoins! |
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MinerHQ
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Merit: 1023
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August 29, 2015, 01:32:52 AM |
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I have read some websites that suggests that there was a cap on the bitcoin price of around $1000000000 and caps on the dogecoin price at $15000000. Howether, not sure if these are legit and they have changed in the past!
There is no 'cap' on the price of bitcoin. The price of bitcoin is determined by the market and not by its code. Yes bitcoins are not controlled by even any big institutions or governments but bitcoin price is purely depends on demand and supply. If demand for bitcoin grow the price will grow. |
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Chef Ramsay
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August 29, 2015, 04:15:07 AM
Last edit: August 29, 2015, 04:25:08 AM by Chef Ramsay |
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I have read some websites that suggests that there was a cap on the bitcoin price of around $1000000000 and caps on the dogecoin price at $15000000. Howether, not sure if these are legit and they have changed in the past!
There is no 'cap' on the price of bitcoin. The price of bitcoin is determined by the market and not by its code. Yes bitcoins are not controlled by even any big institutions or governments but bitcoin price is purely depends on demand and supply. If demand for bitcoin grow the price will grow. Good grief, I'd love to be the boss of what demand in the bitcoin looks like for the masses aka adoption. There has to be discounts offered for bitcoin usage in that it's value is rewarded by its utility as in the low cost of acceptance compared to credit cards or so. The discount has to offer the locals an advantage and this should spread all over the damn country to get things rolling. People have to have the advantage in purchasing power before they'll want to use it for payment. Put simply, merchants need to offer discounts across the board and then let the price action move for those that are looking to get their product and pay accordingly. Let the partial profit reign into the consumer level. |
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aakashsangwan
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August 29, 2015, 06:02:37 AM |
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I have read some websites that suggests that there was a cap on the bitcoin price of around $1000000000 and caps on the dogecoin price at $15000000. Howether, not sure if these are legit and they have changed in the past!
There is no 'cap' on the price of bitcoin. The price of bitcoin is determined by the market and not by its code. Yes bitcoins are not controlled by even any big institutions or governments but bitcoin price is purely depends on demand and supply. If demand for bitcoin grow the price will grow. No, they are not controlled by supply and demand. Anyone with enough bankroll and statistical approach can change the bitcoin prices by playing with buy and sell order list on any small exchange. |
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