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Author Topic: What will happen if the bitcoin economy goes to 500.000.000?  (Read 1718 times)
Neyo (OP)
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June 10, 2011, 04:45:37 PM
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My guess is that if this happened, bitcoin would be all over the mainstream media, because then everybody would have to take it seriously. With 6M bitcoins you would need a price of 83, and with 7M you would need a price of 71,5 to create a 500M economy.
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June 10, 2011, 04:47:45 PM
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give it a month or two

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June 10, 2011, 04:50:43 PM
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give it a month or two

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Findeton
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June 10, 2011, 04:56:06 PM
 #4

500 million is not a round enough number. Let it be 1 Billion dollars of market cap, then it will be a good piece of news.

First it will reach 100$/btc, that would generate some news and then when it hits the 150$/btc news will tell that bitcoin's worth 1 billion dollars.

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June 10, 2011, 05:11:02 PM
 #5

When it hits $250M, I suggest we make moves to start the backup net. Or buy a few companies that lay down internet tubes.

Something. Get bitcoin some way to weather software and hardware issues. We will face opposition. No doubt about it.

Proposal: http://forum.bitcoin.org/index.php?topic=11541.msg162881#msg162881
Inception: https://github.com/bitcoin/bitcoin/issues/296
Goal: http://forum.bitcoin.org/index.php?topic=12536.0
Means: Code, donations, and brutal criticism. I've got a thick skin. 1Gc3xCHAzwvTDnyMW3evBBr5qNRDN3DRpq
bitoption
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June 10, 2011, 05:26:56 PM
 #6

A fundamental issue is that in the crowd that has 100k+ bitcoins, they don't seem to be making serious moves to help encourage and stabilize the economy as far as I can tell.

At some point, they will need to, since they won't be able to get rid of their $25-$50M quickly, and won't want to. Until then, though, we are still waiting and seeing what sort of people our new BTC overlords are.
Findeton
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June 11, 2011, 11:43:48 AM
 #7

A fundamental issue is that in the crowd that has 100k+ bitcoins, they don't seem to be making serious moves to help encourage and stabilize the economy as far as I can tell.

At some point, they will need to, since they won't be able to get rid of their $25-$50M quickly, and won't want to. Until then, though, we are still waiting and seeing what sort of people our new BTC overlords are.

I have an idea to solve that. I'll explain it in 2-3 weeks.

Bitcoin Weekly, bitcoin analysis and commentary

14DD7MhRXuw3KDuyUuXvAsRcK4KXTT36XA
newunit16
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June 11, 2011, 11:47:07 AM
 #8

if BTC reaches 500m and nobody is accepting it as payment (aside from the niche market) i see it hitting 50m a few days after that.
mewantsbitcoins
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June 11, 2011, 12:12:39 PM
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if BTC reaches 500m and nobody is accepting it as payment (aside from the niche market) i see it hitting 50m a few days after that.

And I see dead people
tehcodez
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June 11, 2011, 04:28:32 PM
 #10

if BTC reaches 500m and nobody is accepting it as payment (aside from the niche market) i see it hitting 50m a few days after that.

And I see dead people

Mr. Shyamalan has coins. Send them so he can be cured.
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