|
Pap0u (OP)
|
 |
August 09, 2016, 01:05:04 AM |
|
There have been plenty of discussions from time to time on the price speculation of Bitcoin. Where do you guys see the price of one Bitcoin in the years to come? Most importantly, why? How would Bitcoin work? Bitcoin can not exist independently without any other currency, because then where do you derive its value? Imagine Bitcoin though is adopted worldwide, as a popular secondary means of processing transactions. What should the value be of a Bitcoin if literally every person who owned a bank account and debit and credit cards also used Bitcoin wallets and bitcoins daily.
My theory is that the value of a Bitcoin needs to be the sum of all the value of money that exists in the world divided by 21 million bitcoins then adjusted to market price.
Why is Bitcoin priced at what it is today and what is its maximum potential to be valued at?
|
|
|
|
|
|
|
|
|
|
|
|
|
"Bitcoin: mining our own business since 2009" -- Pieter Wuille
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
gentlemand
Legendary
 Offline
Activity: 2590
Merit: 3013
Welt Am Draht
|
|
August 09, 2016, 01:36:55 AM |
|
Bitcoin's current price is what someone is willing to pay to someone willing to sell. Facetious but true. A vast amount of the price is pure speculation but you can say the same about a huge amount of things including gold. It really doesn't have a great deal of adoption or utility at present and I think people have a tendency to overestimate it.
As for it replacing all of the money in the world, er, no. Governments will always want to control their currency and they can enforce its usage by paying out in it and demanding tax back in it.
Even if Bitcoin was taken to the hearts of populations, a huge amount of GDP would remain in the national currencies.
As for future valuations? I think $10,000 is quite possible. Not alot would need to change for that to happen. Bitcoin would be large but still niche. $100,000 and more would take a big shift in how much of the world views it and that's going to take decades or more.
|
|
|
|
|
RyNinDaCleM
Legendary
Offline
Activity: 2408
Merit: 1009
Legen -wait for it- dary
|
|
August 09, 2016, 02:27:45 AM |
|
Sure bitcoin can have a value independently of all fiats. I can pay employees their wages and it becomes the value of hour of work * amount of bitcoin. Lets say you work 1 hour, and I pay you .02 BTC for that hour. It would be the equivalent of ~$11/hr. Now it doesn't need that usd comparison, but it helps here. Then negotiations can happen to get .025 or whatever your skill may be worth. In a system where wholesalers are paid in btc, their employees are paid in btc and they can then pay their bills in btc, you no longer need the conversion rate, and the value is whatever someone is willing to trade for it. Whether it be hours of their life, chickens on their farm or bj's from the lady of the night.  |
|
|
|
|
immangrace
|
|
August 09, 2016, 07:31:16 AM |
|
Sure bitcoin can have a value independently of all fiats. I can pay employees their wages and it becomes the value of hour of work * amount of bitcoin. Lets say you work 1 hour, and I pay you .02 BTC for that hour. It would be the equivalent of ~$11/hr. Now it doesn't need that usd comparison, but it helps here. Then negotiations can happen to get .025 or whatever your skill may be worth. In a system where wholesalers are paid in btc, their employees are paid in btc and they can then pay their bills in btc, you no longer need the conversion rate, and the value is whatever someone is willing to trade for it. Whether it be hours of their life, chickens on their farm or bj's from the lady of the night. That's the thing that I think is holding bitcoin down people think of its value in fiat not on its own, I ask someone how much bitcoins you have and he says $124 !! I say what the hell, when I ask about how much bitcoins you have I mean you to say 0.12 or 0.5 bitcoin, people don't think of bitcoin as its own value but how much it is in fiat and that needs to change. |
|
|
|
RyNinDaCleM
Legendary
Offline
Activity: 2408
Merit: 1009
Legen -wait for it- dary
|
|
August 09, 2016, 10:53:07 AM |
|
Sure bitcoin can have a value independently of all fiats. I can pay employees their wages and it becomes the value of hour of work * amount of bitcoin. Lets say you work 1 hour, and I pay you .02 BTC for that hour. It would be the equivalent of ~$11/hr. Now it doesn't need that usd comparison, but it helps here. Then negotiations can happen to get .025 or whatever your skill may be worth. In a system where wholesalers are paid in btc, their employees are paid in btc and they can then pay their bills in btc, you no longer need the conversion rate, and the value is whatever someone is willing to trade for it. Whether it be hours of their life, chickens on their farm or bj's from the lady of the night. That's the thing that I think is holding bitcoin down people think of its value in fiat not on its own, I ask someone how much bitcoins you have and he says $124 !! I say what the hell, when I ask about how much bitcoins you have I mean you to say 0.12 or 0.5 bitcoin, people don't think of bitcoin as its own value but how much it is in fiat and that needs to change. Well, initially, it is needed. A fiat value comparison gets a bearing on the value, but eventually, you can get away all together. |
|
|
|
maku
Legendary
Offline
Activity: 1288
Merit: 1000
|
|
August 09, 2016, 11:13:05 AM |
|
Bitcoin for now is like subsidiary currency. Fiats are dominating and it is only possible to view bitcoin price in direct comparison to them.
But bitcoin is much more that simple paper money. It can be used in many ways, for example to store important information in the blockchain.
This feature alone, if used correctly and with plan will made 1 BTC worth more than $10.000.
|
|
|
|
|
|
NorthPixel
|
|
August 09, 2016, 11:38:49 AM |
|
Bitcoin for now is like subsidiary currency. Fiats are dominating and it is only possible to view bitcoin price in direct comparison to them.
But bitcoin is much more that simple paper money. It can be used in many ways, for example to store important information in the blockchain.
This feature alone, if used correctly and with plan will made 1 BTC worth more than $10.000.
It will take several decades for the bitcoin to be used a major currency. In the mean while, there should be more developments. |
|
|
|
|
|
ethereumhunter
|
|
August 09, 2016, 11:42:40 AM |
|
sooner government will be realize that bitcoin have more benefits for many people, and they will integrate their bank system with bitcoin and blockchain technology. i see that bitcoin can be one currency that can united all country with one currency, no matter where you are, where you live, you can use bitcoin in anywhere.
|
| ..Stake.com.. | | | ▄████████████████████████████████████▄
██ ▄▄▄▄▄▄▄▄▄▄ ▄▄▄▄▄▄▄▄▄▄ ██ ▄████▄
██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██ ██████
██ ██████████ ██ ██ ██████████ ██ ▀██▀
██ ██ ██ ██████ ██ ██ ██ ██ ██
██ ██████ ██ █████ ███ ██████ ██ ████▄ ██
██ █████ ███ ████ ████ █████ ███ ████████
██ ████ ████ ██████████ ████ ████ ████▀
██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██
██ ▀▀▀▀▀▀▀▀▀▀ ██
▀█████████▀ ▄████████████▄ ▀█████████▀
▄▄▄▄▄▄▄▄▄▄▄▄███ ██ ██ ███▄▄▄▄▄▄▄▄▄▄▄▄
██████████████████████████████████████████ | | | | | | ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█ ▄▀▄ █▀▀█▀▄▄
█ █▀█ █ ▐ ▐▌
█ ▄██▄ █ ▌ █
█ ▄██████▄ █ ▌ ▐▌
█ ██████████ █ ▐ █
█ ▐██████████▌ █ ▐ ▐▌
█ ▀▀██████▀▀ █ ▌ █
█ ▄▄▄██▄▄▄ █ ▌▐▌
█ █▐ █
█ █▐▐▌
█ █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█ | | | | | | ▄▄█████████▄▄
▄██▀▀▀▀█████▀▀▀▀██▄
▄█▀ ▐█▌ ▀█▄
██ ▐█▌ ██
████▄ ▄█████▄ ▄████
████████▄███████████▄████████
███▀ █████████████ ▀███
██ ███████████ ██
▀█▄ █████████ ▄█▀
▀█▄ ▄██▀▀▀▀▀▀▀██▄ ▄▄▄█▀
▀███████ ███████▀
▀█████▄ ▄█████▀
▀▀▀███▄▄▄███▀▀▀ | | | ..PLAY NOW.. |
|
|
|
|
Nimbulan
|
|
August 09, 2016, 11:55:45 AM |
|
Bitcoin for now is like subsidiary currency. Fiats are dominating and it is only possible to view bitcoin price in direct comparison to them.
But bitcoin is much more that simple paper money. It can be used in many ways, for example to store important information in the blockchain.
This feature alone, if used correctly and with plan will made 1 BTC worth more than $10.000.
It will take several decades for the bitcoin to be used a major currency. In the mean while, there should be more developments. thats true, but it is definitely possible, in my opinion in several decades countries from around the world might be using it as an official currency |
|
|
|
RyNinDaCleM
Legendary
Offline
Activity: 2408
Merit: 1009
Legen -wait for it- dary
|
|
August 09, 2016, 01:19:04 PM |
|
sooner government will be realize that bitcoin have more benefits for many people, and they will integrate their bank system with bitcoin and blockchain technology. i see that bitcoin can be one currency that can united all country with one currency, no matter where you are, where you live, you can use bitcoin in anywhere.
It's true about blockchain being used by banks, but you are crazy if you think Bitcoin will be the one they use. Banks and gov will never give up their power over the system. They will more likely fork the coin that suits them best and centralize it. |
|
|
|
chesthing
Legendary
Offline
Activity: 1414
Merit: 1000
|
|
August 09, 2016, 01:54:32 PM |
|
Bitcoin can't scale to anywhere near the mass adoption you are talking about, so there's that...
|
|
|
|
|
|
Pap0u (OP)
|
|
August 09, 2016, 03:19:42 PM |
|
Why do you think it can not scale and be used in mass adoption? You really think it will take decades for cryptocurrencies to become mainstream and worldwide?
|
|
|
|
mobnepal
Legendary
Offline
Activity: 1218
Merit: 1006
|
|
August 09, 2016, 03:50:44 PM |
|
It is hard to predict real value or good stable value/price of bitcoin and also hard to predict what will be price over time. But bitcoin price is determined by supply of bitcoin and demand of bitcoin worldwide. But sometime there are many events that could significantly manipulate/swing market price of bitcoin.
|
|
|
|
|
chesthing
Legendary
Offline
Activity: 1414
Merit: 1000
|
|
August 09, 2016, 04:18:17 PM |
|
Why do you think it can not scale and be used in mass adoption? You really think it will take decades for cryptocurrencies to become mainstream and worldwide?
Do some research on bitcoin scaling. Your second question contains an assumption of what I think that makes no sense, as it is much broader than whether bitcoin can scale. |
|
|
|
|
|
hawkins
|
|
August 09, 2016, 04:34:52 PM |
|
if anyone asked about the potential bitcoin, especially regarding price, I think it indefinitely. bitcoin prices would always rise at a fantastic price, and it will make more people interested. so the price of bitcoin will increase, and that is certainly the bitcoin system development still remain to be done, and it will certainly be something extraordinary in the future
|
|
|
|
|
Amph
Legendary
Offline
Activity: 3206
Merit: 1069
|
|
August 09, 2016, 04:40:10 PM |
|
Sure bitcoin can have a value independently of all fiats. I can pay employees their wages and it becomes the value of hour of work * amount of bitcoin. Lets say you work 1 hour, and I pay you .02 BTC for that hour. It would be the equivalent of ~$11/hr. Now it doesn't need that usd comparison, but it helps here. Then negotiations can happen to get .025 or whatever your skill may be worth. In a system where wholesalers are paid in btc, their employees are paid in btc and they can then pay their bills in btc, you no longer need the conversion rate, and the value is whatever someone is willing to trade for it. Whether it be hours of their life, chickens on their farm or bj's from the lady of the night. but you did that math because you know its value in fiat, would be curious to not know it, to see how much are people willing to estiamte bitcoin on tis own |
|
|
|
|
RyNinDaCleM
Legendary
Offline
Activity: 2408
Merit: 1009
Legen -wait for it- dary
|
|
August 09, 2016, 05:18:00 PM |
|
Sure bitcoin can have a value independently of all fiats. I can pay employees their wages and it becomes the value of hour of work * amount of bitcoin. Lets say you work 1 hour, and I pay you .02 BTC for that hour. It would be the equivalent of ~$11/hr. Now it doesn't need that usd comparison, but it helps here. Then negotiations can happen to get .025 or whatever your skill may be worth. In a system where wholesalers are paid in btc, their employees are paid in btc and they can then pay their bills in btc, you no longer need the conversion rate, and the value is whatever someone is willing to trade for it. Whether it be hours of their life, chickens on their farm or bj's from the lady of the night. but you did that math because you know its value in fiat, would be curious to not know it, to see how much are people willing to estiamte bitcoin on tis own Yes, that's the caveat there. It would require someone who desired BTC for it's properties and doesn't already know the usd value. |
|
|
|
|
simon66
|
|
August 09, 2016, 05:20:44 PM |
|
I think it would take north of $50k each to get into territory that would actually surprise me..
If it never gets to $10k in 10 years I'd be more surprised than if it got to $40k..
|
|
|
|
|
manselr
Legendary
Offline
Activity: 868
Merit: 1004
|
|
August 09, 2016, 05:23:24 PM |
|
The potential is insanely high. Multiple million dollars per coin (inflation adjusted) once money from all fronts enters BTC. This is why having 21 BTC is a must for long term.
|
|
|
|
|
|
Xenophoto
|
|
August 10, 2016, 09:19:39 AM |
|
First of all, I think your idea of every person who has a bank account would also own bitcoin is highly unlikely. There are tons of technology haters out there, doubters, and people who thinks that every single thing on the Internet is a scam. Bitcoin has a really bad name when it comes to the social media, so people already thinks that Bitcoins are used for fraud purposes. They don't see its advantages.
The price of bitcoin is basically demand and supply. If the majority of people start to embrace bitcoins, then bitcoin's price will shoot up. The scarcity is what makes bitcoin valuable after all. The idea of crypto-currency has an infinite potential, there are tons of things that can make use of bitcoins. We just don't have the technology for it just yet.
|
|
|
|
|
