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Author Topic: Will Bitcoin ever hit $1,000?  (Read 1282 times)
SgtSpike
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March 18, 2013, 11:29:49 PM
 #1

Speculate away.  Smiley
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gimme_bottles
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March 18, 2013, 11:32:07 PM
 #2

the only question: how long until this thread becomes obsolete?
nobbynobbynoob
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March 18, 2013, 11:33:33 PM
 #3

Yes. But I don't know when.

Actually, I originally thought that, within about five years, one BTC would be worth either about $1k or nothing.

Then I was thinking $10k per BTC...

But honestly, within 5-7 years, I think it will be either $100k+ per BTC or pretty much zero, and probably not much in between. (Ł might be between, say, zero and $2k per Ł.) And I mean $100k at today's prices, excluding any future printing actions by Helicopter Ben & Co.

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March 18, 2013, 11:36:07 PM
 #4

1000 USD and 10000 USD or higher are, given time, very likely. The more interesting question is whether to road to say 10000 USD takes a detour via 40 USD, 30 USD, 20 USD or even 10 USD.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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March 18, 2013, 11:36:38 PM
 #5

yes it will....

only question is when... 2016? 2026?
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March 18, 2013, 11:37:41 PM
 #6

Yes.

With a maximum of 21 million bitcoins that can be mined, just imagine IF huge websites such as Amazon or eBay started to use them...21 million isn't even 1% of America's population! It will become very scarce eventually and 21 million is really a small number.

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March 18, 2013, 11:40:32 PM
 #7

1000 USD and 10000 USD or higher are, given time, very likely. The more interesting question is whether to road to say 10000 USD takes a detour via 40 USD, 30 USD, 20 USD or even 10 USD.

Part of me is still a little bearish, somehow (this rocket is too powerful!), so I've held off on buying BTC, preferring the comfort of cheaper Ł instead. By exchanging between BTC and Ł one can speculate without touching fiat.

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goldlyre
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March 19, 2013, 12:00:13 AM
 #8

Yeah, sure, absolutely!!!! Grin
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March 19, 2013, 12:04:31 AM
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March 19, 2013, 12:13:25 AM
 #10

The price still cannot go too far beyond the cost of mining bitcoin.

As mining equipment becomes easier to use for the average person, several people may just opt to buy an ASIC to stick in the corner as opposed to buying through the exchange.

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BitPirate
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March 19, 2013, 01:57:32 AM
 #11

That sends the cost of mining BTC up, as the supply rate does not change.

More people will be invested in ASIC, will barely be able to break even, and will want good prices for their BTC.

Yes we will hit $1000.

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March 19, 2013, 02:00:04 AM
 #12

1000 USD and 10000 USD or higher are, given time, very likely. The more interesting question is whether to road to say 10000 USD takes a detour via 40 USD, 30 USD, 20 USD or even 10 USD.

I think the ride will be much more wild than anyone can even imagine.
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