BTC is about to be $5K-$8K ++

[dloghwak]

10 years until 5k?  Conservatively, if it takes more than 3-4 years to get to 5k, that would be tragic.

If Bitcoin stays 10 more years in penny stock territory then it is a total failure.

what penny stock?
$4 bil is a solid midcap, right in the middle of $2-10bil range.

Do you realize how tiny even $10 billion is when compared to the market caps of typical S&P 500 companies or global commodities and currencies?

I thought this is supposed to be a history changing global currency, not a small midwestern fast food chain.

Either it hurries up and takes off in the next 1-5 years or be doomed to be seen as a fad IMO.

Said who? Even if it stays in this price range for the next 20 years it wouldn't be a failure, cause we would still be able to send money across the globe with almost no fees by using Bitcoin.
You call it a failure because you wanted to profit from rising Bitcoin prices.

OK "dloghwak" lol
Whatever you say.  But please stop talking about people trying to get rich quick with Bitcoin as if it's some kind of faulted mentality.  It's about the REALIZATION that it is extremely valuable and that it will change the world.  IMHO, anyone who continues to attack bitcoin supporters as "get rich quick" fantasies are either missing the point or spreading FUD.  If Bitcoin is what we say it is, then we will absolutely get rich quick.  And if you don't then it's your own stupid fault LOL

Sorry to say, but there is a reason why you aren't rich and Bitcoin won't change that.

Said who? Even if it stays in this price range for the next 20 years it wouldn't be a failure, cause we would still be able to send money across the globe with almost no fees by using Bitcoin.
You call it a failure because you wanted to profit from rising Bitcoin prices.

To be a truly global currency there would have to be a daily velocity of trillions of dollars moving on the blockchain. There is not enough Bitcoins in existence to handle such large volume accept thru a radical price increase per coin.

And yes I do want to profit because that is what business and commerce exists for, to make money and better your life and provide for your family. I'm not a " get rich quick" schemer but I'm not a communist either and hope it will help me succeed in life.

Nothing wrong with being a capitalist, but you can't measure Bitcoins success on your own success.

[gambit1]

Merchants accepting it, stand ups utilizing it.

[98problems]

i hope you are right i believe you really are as it would bring me a lot of profit in my opinion its only a matter of time when it will happen

[jt byte]

Merchants accepting it, stand ups utilizing it.

Recently newegg that implemented i think increased the price a bit.
Then there is the g2a which sells game keys and other game stuff.
Dell also accepts bitcoin for a long time now, and hope one day amazon and ebay will implement the bitcoin.

[richardsNY]

Merchants accepting it, stand ups utilizing it.

Recently newegg that implemented i think increased the price a bit.
Then there is the g2a which sells game keys and other game stuff.
Dell also accepts bitcoin for a long time now, and hope one day amazon and ebay will implement the bitcoin.

Amazon is what so many people are waiting for. The current blocksize issue is what potentially holds Amazon back. If they accept Bitcoin payments, then most likely each block will be full.

[jt byte]

Merchants accepting it, stand ups utilizing it.

Recently newegg that implemented i think increased the price a bit.
Then there is the g2a which sells game keys and other game stuff.
Dell also accepts bitcoin for a long time now, and hope one day amazon and ebay will implement the bitcoin.

Amazon is what so many people are waiting for. The current blocksize issue is what potentially holds Amazon back. If they accept Bitcoin payments, then most likely each block will be full.

By doubling the block size will the issue still available?
Or maybe there should be another thing another big size.
If amazon implements then i think in the beginning the block will not be full but after a year or so when the popularity increases.
But of course the price will be increased and maybe at the OP target of 5-8k

[gentlemand]

Amazon is what so many people are waiting for. The current blocksize issue is what potentially holds Amazon back. If they accept Bitcoin payments, then most likely each block will be full.

Even if Amazon did accept it, there still wouldn't be a reason for any fresh users to come on board unless they were offering some major enticements. It would be sweet but I think they'll show some interest long after everyone else has done a lot more hard work.

[Denker]

Merchants accepting it, stand ups utilizing it.

Recently newegg that implemented i think increased the price a bit.
Then there is the g2a which sells game keys and other game stuff.
Dell also accepts bitcoin for a long time now, and hope one day amazon and ebay will implement the bitcoin.

Amazon is what so many people are waiting for. The current blocksize issue is what potentially holds Amazon back. If they accept Bitcoin payments, then most likely each block will be full.

Yes regarding the blocksize issue I hope we finally will find a solution for that at the next planned conference for that in HK.
Bitcoin has to grow and therefore bigger blocks are desperately needed.Furthermore payment channels and sidechains will have a big impact in Bitcoin's growth.This is going to be very very interesting.

[brg444]

Merchants accepting it, stand ups utilizing it.

Recently newegg that implemented i think increased the price a bit.
Then there is the g2a which sells game keys and other game stuff.
Dell also accepts bitcoin for a long time now, and hope one day amazon and ebay will implement the bitcoin.

Amazon is what so many people are waiting for. The current blocksize issue is what potentially holds Amazon back. If they accept Bitcoin payments, then most likely each block will be full.

...that's non sense.

No one is rushing to buy bitcoins because merchants accept them

[gambit1]

Right but perhaps the pumping of bitcoins price as a speculative instrument has run its course. Perhaps if the price is going to rise further it needs to demonstrate more value other than being something a fool buys in order to sell to a bigger fool for a bigger price sometime down the road. Call me naive but I do think that bitcoin has something to offer outside of that.

[brg444]

Right but perhaps the pumping of bitcoins price as a speculative instrument has run its course. Perhaps if the price is going to rise further it needs to demonstrate more value other than being something a fool buys in order to sell to a bigger fool for a bigger price sometime down the road. Call me naive but I do think that bitcoin has something to offer outside of that.

It hasn't.

Just sit back and enjoy the show.

Speculation and greed is what drives this beast, at least until we get to a 1T$ market cap.

[cohnhead]

10 years until 5k?  Conservatively, if it takes more than 3-4 years to get to 5k, that would be tragic.

If Bitcoin stays 10 more years in penny stock territory then it is a total failure.

depends who you ask? if it doesn't increase in value at all, but transforms the way we conduct transactions around the world, I would deem that transformative and a huge success.
when you speak of bitcoin as a failure you are only looking at it as a value proposition...yet its is much more than that.

[jehst]

I think we can close this year out at $700+

Strap yourselves in.

[gentlemand]

depends who you ask? if it doesn't increase in value at all, but transforms the way we conduct transactions around the world, I would deem that transformative and a huge success.
when you speak of bitcoin as a failure you are only looking at it as a value proposition...yet its is much more than that.

It needs value to incentivise those who help keep it rolling. If there are no exchanges left and mining goes back to a bunch of old laptops then that's not a system that most people will be willing to trust or make use of.

All the cool layers on top that make life easier ain't being run out of the kindness of people's hearts.

[brg444]

10 years until 5k?  Conservatively, if it takes more than 3-4 years to get to 5k, that would be tragic.

If Bitcoin stays 10 more years in penny stock territory then it is a total failure.

depends who you ask? if it doesn't increase in value at all, but transforms the way we conduct transactions around the world, I would deem that transformative and a huge success.
when you speak of bitcoin as a failure you are only looking at it as a value proposition...yet its is much more than that.

Bitcoin is about reintroducing sound money to the world.

Transforming how we conduct fiat transactions around the world does not compare in terms of impact on society.

[jehst]

I wouldn't call a 4 billion dollar market cap "penny stock" territory. Under 1 billion is considered a small cap stock. Over 10 billion is generally considered a large cap stock. We've already been there and will get there again. $5000 is possible next year, but if it takes 3-4 more years, that's good enough. 10x your money in 3 years. Come on, that's fast.

[gentlemand]

$5000 is possible next year, but if it takes 3-4 more years, that's good enough. 10x your money in 3 years. Come on, that's fast.

I don't think all that many people on here have done much conventional investing. They've been permanently warped by Bitcoin and alt madness and the bar of expectations has been raised.

[jehst]

$5000 is possible next year, but if it takes 3-4 more years, that's good enough. 10x your money in 3 years. Come on, that's fast.

I don't think all that many people on here have done much conventional investing. They've been permanently warped by Bitcoin and alt madness and the bar of expectations has been raised.

Yep. Stocks have taken 8 years to double. Ether(eum) did that last week.  

Bitcoin's up 35% in a month. It's pretty nuts how fast you can gain and lose money. Maybe crypto is more like a casino.

[Amph]

Merchants accepting it, stand ups utilizing it.

Recently newegg that implemented i think increased the price a bit.
Then there is the g2a which sells game keys and other game stuff.
Dell also accepts bitcoin for a long time now, and hope one day amazon and ebay will implement the bitcoin.

Amazon is what so many people are waiting for. The current blocksize issue is what potentially holds Amazon back. If they accept Bitcoin payments, then most likely each block will be full.

...that's non sense.

No one is rushing to buy bitcoins because merchants accept them

but it could start a chain in some way, this is a possibility, it will then cause a huge dump from amazon and the price will be levelled in any case, but with a major correction for the value

the problem is that 99.9% of people around the world are fine with fiat

[Mobius]

That would be nice, but I very much doubt it. I would be surprised if BTC broke $1000 during the halving next year.