Why do people think one Bitcoin will be worth $1000 (or more)

[yocko06]

This doesn't even need to be discussed. these new comers who don't know a thing about bitcoin yet are repeating the same stupid things like bitcoin doesn't have any real value. try researching the use of bitcoin and you will find it has a huge vale. all that needs to be said is it will make money modern. The tech that bitcoin is made up of is ground breaking and has alot more applications than just money aswell. they are just unseen by everyone at this point.

[qbits]

$1000/BTC is not unreasonable once it gains wider acceptance.

I'm not sure about that unless eventually difficulty is so high one needs to spend close to $1000 on electricity to mine one BTC. Currently mining 1 BTC on GPU costs about $40-$50 on ASIC about $4-$5.

Bitcoin is a very easy and cheap way to send money across the internet. The more businesses that accept it, and the more people that use it, the higher the value of a single BTC will need to be in order to serve the market. $1000/BTC is not unreasonable once it gains wider acceptance.

I am down about $120,000 from last weekend and I still believe in bitcoin as a very easy and cheap way to send money across the internet. The price of a single BTC is still more than what it was on April 1. The value simply went up too quickly and caused a temporary bubble. MtGox going down so much did not help.

Because bitcoin is a virtual commodity that acts as the medium for transfer, and goods are priced in dollars, it is crucial that we have stable reliable bitcoin exchanges!!! The bitcoin protocol itself is robust, the exchanges need work!

I agree 100%!!!!

[johnyj]

A very deep learning curve make sure that everyone always have something to learn (and become attracted more) 

[Peter Lambert]

$1000/BTC is not unreasonable once it gains wider acceptance.

I'm not sure about that unless eventually difficulty is so high one needs to spend close to $1000 on electricity to mine one BTC. Currently mining 1 BTC on GPU costs about $40-$50 on ASIC about $4-$5.

As more people get into mining bitcoins the difficulty will go up. As more ASICs are introduced to the network, the difficulty will go up. In just a few years the block reward will drop in half again. If the price of bitcoins goes up, then more people join in mining and the difficulty goes up, so if a bitcoin costs $1000 then the cost to mine a bitcoin will trend toward $1000.

[gradient vector]

This doesn't even need to be discussed. these new comers who don't know a thing about bitcoin yet are repeating the same stupid things like bitcoin doesn't have any real value. try researching the use of bitcoin and you will find it has a huge vale. all that needs to be said is it will make money modern. The tech that bitcoin is made up of is ground breaking and has alot more applications than just money aswell. they are just unseen by everyone at this point.

+1

[darkmule]

Threads like this are convincing me, almost against my will, that maybe there should actually be a longer timeout in the noob cage than there already is.

[Luckybit]

I think many people (newbies) think the value of Bitcoins can only go up is because they know there will never be more than 21 Millions Bitcoins on this planet.

You r right. But 95% users of this forum own bitcoins and hope to make a fortune spreading this delusion. They don't have strong arguments to support the delusion so they just troll people like u, giving useless advice to use search button or think outside the box. If u really want to discuss the value of Bitcoin u should find some other forum. Here u'll be just trolled to death.

There are strong arguments. The fact that more and more places are accepting Bitcoins than ever. The Bitcoin ATM machines that are coming. The ASIC mining hardware that is coming. The future of Bitcoins gets brighter and brighter with every news cycle. The only weakness of Bitcoin right now is the infrastructure.

Bitcoin is worth at least $1000 a coin right now and was rising to that level before the mtGox incident. It's worth between $1000-5000 right now, if the infrastructure can hold it. There are some things which need to be implemented, there needs to be more job boards which pay in Bitcoins, more businesses which pay in Bitcoin and more ways for people to learn Bitcoin selling products or services. That is happening but slowly and I think we are about 6 months away to a year away before everything is in place.

Right now we have to fix mtGox and the exchanges. When MtGox is fixed and the exchanges are decentralized then the value will shoot up to $1000-5000.

[Snowfire]

Bitcoin IOUs already exist, as does a small market for them. You can go on Ripple and create and trade them yourself; so that is happening more quickly than many here realize.

[mestar]

Bitcoin is worth at least $1000 a coin right now

If you can make that claim, then you can easily answer this question:

Where is the daily $3.6 million coming from?

[johnyj]

Bitcoin is worth at least $1000 a coin right now

If you can make that claim, then you can easily answer this question:

Where is the daily $3.6 million coming from?

It's from a tiny leaked part of those daily $2.8 billion USD that FED is printing now