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April 01, 2013, 11:37:09 PM
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April 01, 2013, 11:42:49 PM
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It seems to me that what's driving bitcoin's growth is unique functional capability that other forms of currency/commodity do not have. This is not a simple comparison to existing traditional currencies, but rather a technology adoption curve, which behaves much differently. http://en.wikipedia.org/wiki/Technology_adoption_lifecycle

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April 01, 2013, 11:50:08 PM
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world drug Market Values
marijuana market is $141.80 Billion.
Cocaine     $85 Billion
Heroin    $68 Billion
Illegal Tobacco $50 Billion
Methamphetamine $28.25 Billion
Ecstasy$16.07 Billion

if silk road gets 1 percent Market Value bitcoin Market Value is easy 1 Billion

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April 02, 2013, 12:31:10 AM
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Illegal Tobacco $50 Billion

As a small time illegal tobacco dealer I am trying to work my way up to the big time, maybe even become an illegal tobacco mob boss or something. Hopefully hit the $25-$30 billion range in illegal tobacco sales. Then I will convert to Bitcoin for all trades.

By illegal tobacco it is usually selling non-FDA approved cigarettes in the back alley or distributing packets of cigarettes without a warning label. All very dangerous of course, but it is a dangerous world, such is the life of an illegal tobacco dealer.

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April 02, 2013, 12:36:00 AM
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I think this has been answered many times.  It can be anywhere from about $0 to about $100,000 a bitcoin.
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April 02, 2013, 01:10:50 AM
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I think this has been answered many times.  It can be anywhere from about $0 to about $100,000 a bitcoin.

Did you read the post? The current transaction volume going through bitcoin most definitely does not support $100k per coin...

I thought you were asking about 5-10 years down the line?  It is very likely the block limit will be raised, also more services will pop up that handle transactions in-house instead of writing every single one to the blockchain.

To be honest, these threads are moot.  Your guess is as good as anybody else's.  And if you don't know the outcome of the replies you will receive from the Speculation forum...
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