Explain WHY bitcoin will be worth 1-3000 USD

[alexanderrrr]

Hi,

Can all of you bitcoin and market gurus please explain for a dumb kid like me WHY bitcoin will and can be worth 1000-3000 USD (some say $10000 to $1MIL which I find weird?!).
One reason I think I've understood is that once all the bitcoins are mined and bitcoins goes global... we can kinda set the price. Is this correct?

Please list every reason and explain it like it's for a 10 yr old. I often see "BITCOIN WILL REACH THE PRICE XXXX USD" but never a reason why.
My heart says I should hold on to all of my bitcoins but my paranoid brain says "No. Plenty of crashes before that."

Thanks in advance.

[r0ach]

http://www.zerohedge.com/news/2014-07-10/pure-madness-revenueless-assetless-sync-continues-over-5bn-now-bigger-cablevision-an

[1Referee]

People who say that Bitcoin can reach $1 million per coin at some poin in the future are not being realistic. They keep fooling themselfs. I think anything between $1000-$5000 is surely possible. Especially when Bitcoin is getting used as an investment tool by institutional investors. These guys have the money to move Bitcoin beyond what we think is possible. Without them we'll probably keep sitting below $5000 for ever. We only need Bitcoin to gain more popularity among average joe people as being a currency and an investment tool. The rest will go automatically.

[MatTheCat]

People who say that Bitcoin can reach $1 million per coin at some poin in the future are not being realistic. They keep fooling themselfs. I think anything between $1000-$5000 is surely possible. Especially when Bitcoin is getting used as an investment tool by institutional investors. These guys have the money to move Bitcoin beyond what we think is possible. Without them we'll probably keep sitting below $5000 for ever. We only need Bitcoin to gain more popularity among average joe people as being a currency and an investment tool. The rest will go automatically.

Bitcoin is controlled by a Chinese cabal. They have Bitcoin stitched right up in terms of mining capacity and in terms of control of Bitcoin 'wealth', Satoshi's coin stash notwitstanding.

If Western institutions pile into Bitcoin, then they are piling into Chinaman's business and enriching Chinaman. If Western Institutions are eager to make use of 'blockchain' technology, then there are plenty other alternatives that they could turn to other than hyper expensive, bloated, and lets face it, very slow Bitcoin.

Bitcoin goes up, when the Chinese whales decide to pump it. Bitcoin goes down, when they decide to dump it.

Bitcoin's only advantage over existing means of electronic payment, is in it's ability to avoid government capital controls.

If Bitcoin is going to hit new ATHs, it aint gonna be institutional investors coming into the frame, it is going to be an increase in demand due ton Capital Flight (probably from China), and the Chinese Bitcoin Cowboys ramping Bitcoin into the stratosphere to ensure that the Capital Flightees pay top dollar for their Bitcoin. Thus Joe Bitcoiner hopes to get rich on the back of economic chaos and mass suffering in the most populated nation on the face of the Earth.

http://www.zerohedge.com/news/2014-07-10/pure-madness-revenueless-assetless-sync-continues-over-5bn-now-bigger-cablevision-an

And indeed, one should never underestimate the avalanche effect of mass public greed, which is why the old adage of the majority always losing holds true. The majority who invest money in a vacuos asset like Bitcoin are certain to lose and those who win or hope to win are exploiting the stupidty of other humans, whilst neither creating nor offering anything of value in exchange for their profit. The very definition of a 'rat race'.

[Amph]

more chances to be worth 10k than 1, also what are the argument against a 1$ value of bitcoin, based its fail for random reason, like it may die because of x bullshit thing?

instead there is a greater reason to have a higher price, which is adoption and miners manipulation, adoption will be forced by price manipulation in some way

[olloman]

Hi,

Can all of you bitcoin and market gurus please explain for a dumb kid like me WHY bitcoin will and can be worth 1000-3000 USD (some say $10000 to $1MIL which I find weird?!).
One reason I think I've understood is that once all the bitcoins are mined and bitcoins goes global... we can kinda set the price. Is this correct?

Please list every reason and explain it like it's for a 10 yr old. I often see "BITCOIN WILL REACH THE PRICE XXXX USD" but never a reason why.
My heart says I should hold on to all of my bitcoins but my paranoid brain says "No. Plenty of crashes before that."

Thanks in advance.

because owning bitcoins gives you rights of ownership of the relative data stored on the Blockchain, which is the world's biggest, more widespread and popular p2p decentralized network, hence bitcoins have an intrinsic value.
because bitcoins have the pros without cons of gold, which makes them and ideal store of value.
because bitcoins have the pros without the cons of cash, which which makes them the ultimate payment method for in person trades.
because bitcoins have the pros without the cons of electronic payment systems, and are much more secure and fast than those, which makes them the ultimate payment method for online trades.
because bitcoins are non inflationary, which means that if demand and adoption grow, their value is bound to rise.
and many more reasons, these are the most notheworthy.

you would just need one of these reasons to justify such prices, but you have all of them.

[jt byte]

There is no information that can back up such a claim. In the end it is all about what people are willing to pay for 1 single bitcoin.
Remember that bitcoin is an asset, and with all assets the price is based on speculation and potential.

So no there's no legit claim the price will be guaranteed at a certain value during a certain period of time.

[European Central Bank]

Because greed? Utility's a long ass way behind that for the foreseeable future.

[onewiseguy]

if you look at the history of bitcoin is will rise much more.

[makingwin1]

yeah bitcoin won't reech 10000$ soon, it will takes years,  i think by end of 2016 we will have 700$ because of halving of course, and because of china market

[target]

yeah bitcoin won't reech 10000$ soon, it will takes years,  i think by end of 2016 we will have 700$ because of halving of course, and because of china market

not possible even after 10 years. if you hold large amount yet the price plummet like a log, you'd be scracthing you head thinking why you bought the coins for $400. 

[bitcoin-hunter]

Hi,

Can all of you bitcoin and market gurus please explain for a dumb kid like me WHY bitcoin will and can be worth 1000-3000 USD (some say $10000 to $1MIL which I find weird?!).
One reason I think I've understood is that once all the bitcoins are mined and bitcoins goes global... we can kinda set the price. Is this correct?

Please list every reason and explain it like it's for a 10 yr old. I often see "BITCOIN WILL REACH THE PRICE XXXX USD" but never a reason why.
My heart says I should hold on to all of my bitcoins but my paranoid brain says "No. Plenty of crashes before that."

Thanks in advance.

because owning bitcoins gives you rights of ownership of the relative data stored on the Blockchain, which is the world's biggest, more widespread and popular p2p decentralized network, hence bitcoins have an intrinsic value.
because bitcoins have the pros without cons of gold, which makes them and ideal store of value.
because bitcoins have the pros without the cons of cash, which which makes them the ultimate payment method for in person trades.
because bitcoins have the pros without the cons of electronic payment systems, and are much more secure and fast than those, which makes them the ultimate payment method for online trades.
because bitcoins are non inflationary, which means that if demand and adoption grow, their value is bound to rise.
and many more reasons, these are the most notheworthy.

you would just need one of these reasons to justify such prices, but you have all of them.

I think you are right, but its also the fact that we are making the price of the bitcoin with the whole bitcoin itself so I think we can also say the price is made by our self right ?

Its also the fact that the halving is coming and that will let the price go to a high amount or maybe to a lower amount, you of course never know what is gonna happen.

[SFR10]

Well $1000 will be within reach in the future (again) but I don't see it reach all the way up to $1 M (that's too much). Well there will be a point that the demand keeps on growing more and more with supply remaining the same and that itself would certainly be the main factor for it's value to keep on growing even further.

[HostSurf]

Hi,

Can all of you bitcoin and market gurus please explain for a dumb kid like me WHY bitcoin will and can be worth 1000-3000 USD (some say $10000 to $1MIL which I find weird?!).
One reason I think I've understood is that once all the bitcoins are mined and bitcoins goes global... we can kinda set the price. Is this correct?

Please list every reason and explain it like it's for a 10 yr old. I often see "BITCOIN WILL REACH THE PRICE XXXX USD" but never a reason why.
My heart says I should hold on to all of my bitcoins but my paranoid brain says "No. Plenty of crashes before that."

Thanks in advance.

because owning bitcoins gives you rights of ownership of the relative data stored on the Blockchain, which is the world's biggest, more widespread and popular p2p decentralized network, hence bitcoins have an intrinsic value.
because bitcoins have the pros without cons of gold, which makes them and ideal store of value.
because bitcoins have the pros without the cons of cash, which which makes them the ultimate payment method for in person trades.
because bitcoins have the pros without the cons of electronic payment systems, and are much more secure and fast than those, which makes them the ultimate payment method for online trades.
because bitcoins are non inflationary, which means that if demand and adoption grow, their value is bound to rise.
and many more reasons, these are the most notheworthy.

you would just need one of these reasons to justify such prices, but you have all of them.

I think you are right, but its also the fact that we are making the price of the bitcoin with the whole bitcoin itself so I think we can also say the price is made by our self right ?

Its also the fact that the halving is coming and that will let the price go to a high amount or maybe to a lower amount, you of course never know what is gonna happen.

Indeed, you are right the price will go to a high amount soon or later, this is of course because of the different factors the bitcoin depends on.
One of them is the halving that will let the price jump another one is that the people are believing again in the bitcoin.

[Dr.Osh]

I do not know, but I think because bitcoin is a technology that is very good in the eyes of investors and users very much, but that's my only guess only... 

[Denker]

Because it can!Simple is that!
Bitcoin is the oldest, most known an used coin with the biggest and fastest growing infrastructure.
Look where BTC had been in 2012 and where it is now and what is planned for the short to mid future.

[RodeoX]

First off, there is no person on Earth who knows what the future price will be. This is a social experiment and stating that the price will be this or that is just guessing. However I do think bitcoin is growing so rapidly because many of us see the huge improvement in money that bitcoin represents.

The problems with traditional money systems are many. Especially when you try using them in a digital world. Consider how awkward a credit card transaction is. After waiting for weeks and handing over all your personal banking and tax information to a bunch of people you do not know you can get a card. When using this card you must hand over everything that is needed to steal from you to whoever you are paying. This information, which includes your identity, is passed on to the payment processor and passes through... I don't know how many servers. It will then take days or even months for the paperwork to be completed and for the business to be paid. Of course when the website you bought from is inevitably broken into all your information goes on sale at some Dweb TOR site.

Because of all these problems the card issuer must charge a whopping 3% on transactions. If you think you do not have to pay for using your credit card then you don't understand economics. MasterCard is not a public service, it is a for profit business and someone MUST pay. Therefore businesses that accept credit cards pass on their fees to you.  For example, when I buy something for bitcoin I often pay 3% less. Notice in the screen shot that cash (bitcoin, checks, bankwire) are less than the normal price. In this example the buyer saves hundreds of dollars. If you used say a bankwire you would save some but still have to pay for that, another $25.

Bitcoin is also far more secure than credit cards or PayPal. If you broke into my Overstock.com account you could see my name and address and even what I have bought. But you would find no credit card information and nothing that leads to any of my money. In contrast someone getting your Amazon account would also get your card and could use it to buy stuff. It's safer for all parties involved to use BTC.

There are many other reasons and use cases that make BTC superior for one user or another. A big one for me is the universality of bitcoin. I travel a lot and love the idea of a global money that I can bring with me anywhere. Money that is beyond the control of any government or financial institution worldwide.

We have years and decades of growth ahead of us, but my guess is that bitcoin is still an infant in terms of growth in value. But, we'll see.

[ultimatesky]

Hi,

Can all of you bitcoin and market gurus please explain for a dumb kid like me WHY bitcoin will and can be worth 1000-3000 USD (some say $10000 to $1MIL which I find weird?!).
One reason I think I've understood is that once all the bitcoins are mined and bitcoins goes global... we can kinda set the price. Is this correct?

Please list every reason and explain it like it's for a 10 yr old. I often see "BITCOIN WILL REACH THE PRICE XXXX USD" but never a reason why.
My heart says I should hold on to all of my bitcoins but my paranoid brain says "No. Plenty of crashes before that."

Thanks in advance.

because owning bitcoins gives you rights of ownership of the relative data stored on the Blockchain, which is the world's biggest, more widespread and popular p2p decentralized network, hence bitcoins have an intrinsic value.
because bitcoins have the pros without cons of gold, which makes them and ideal store of value.
because bitcoins have the pros without the cons of cash, which which makes them the ultimate payment method for in person trades.
because bitcoins have the pros without the cons of electronic payment systems, and are much more secure and fast than those, which makes them the ultimate payment method for online trades.
because bitcoins are non inflationary, which means that if demand and adoption grow, their value is bound to rise.
and many more reasons, these are the most notheworthy.

you would just need one of these reasons to justify such prices, but you have all of them.

I think you are right, but its also the fact that we are making the price of the bitcoin with the whole bitcoin itself so I think we can also say the price is made by our self right ?

Its also the fact that the halving is coming and that will let the price go to a high amount or maybe to a lower amount, you of course never know what is gonna happen.

Indeed, you are right the price will go to a high amount soon or later, this is of course because of the different factors the bitcoin depends on.
One of them is the halving that will let the price jump another one is that the people are believing again in the bitcoin.

The price will go to a high amount that is true, but the halving can also be a bad thing for the bitcoin and can get it collapsed.
In my opinion this could happen, most likely not but the bitcoin is not to predict, the only thing that can give the bitcoin a very good boost is the halving.

[rekinthis]

Because it can!Simple is that!
Bitcoin is the oldest, most known an used coin with the biggest and fastest growing infrastructure.
Look where BTC had been in 2012 and where it is now and what is planned for the short to mid future.

yeah bitcoin had huge jump in these 4 years, so because  of that, i think it will rise that high in future too

Also, china did a price rise on bitcoin months ago, thats nice reason for bitcoin to grow, and of course halving which will happen in 2016 and 2020, it's good reason for bitcoin to grow too

[newcoins1978]

Because it can!Simple is that!
Bitcoin is the oldest, most known an used coin with the biggest and fastest growing infrastructure.
Look where BTC had been in 2012 and where it is now and what is planned for the short to mid future.

yeah bitcoin had huge jump in these 4 years, so because  of that, i think it will rise that high in future too

Also, china did a price rise on bitcoin months ago, thats nice reason for bitcoin to grow, and of course halving which will happen in 2016 and 2020, it's good reason for bitcoin to grow too

The price will be worth over 30k but only in your dreams. Like you said there is no valid reason or argument for the price to go this high.
So don't expect it to go this high. It will not happend. Period.