$1 Trillion Bitcoin

[w00t]

Just tell me, how (by what mechanism) can you stop all the money in the world from trying to enter into bitcoin in the following 7 months?

There are no bitcoins for sale, until the price is very high. There is only about 1.5MBTC in weak hands now. I will consider selling the bulk of mine at above $1M. I think that is substantially above the long term realistic value of $300k.

So you think there will be spike at about 1M USD per BTC?

Looking at the numbers - the global wealth is about 222 trillion USD and about 1/3 (on average) is held in liquid assets. So we are looking at BTC to be going worth at max 74 trillion/21million which is about 3.5 million USD per 1 BTC.

Yeah 1 million spike sounds reasonable.

[SkRRJyTC]

https://www.youtube.com/watch?v=YD3RNouwvOU

[Zangelbert Bingledack]

What you described, blokes suddenly being lifted to world class, is exactly the mechanism that will finish bitcoin's rise from <1,000 to >1,000,000 this year. It just cannot take any longer any more. This is not 2011.

Could you elaborate on the mechanism? Do you mean people the newly rich will brag to their friends and get everyone in on it? Or something more than that?

[farfiman]

Just tell me, how (by what mechanism) can you stop all the money in the world from trying to enter into bitcoin in the following 7 months?

There are no bitcoins for sale, until the price is very high. There is only about 1.5MBTC in weak hands now. I will consider selling the bulk of mine at above $1M. I think that is substantially above the long term realistic value of $300k.

So Justin Beiber  just got 1 M $ richer....he really needed that

[Zangelbert Bingledack]

Mother nature doesn't like singularity , that's why you don't see it,  ever .

Except, um, black holes?

Black holes are nonsense, because infinite gravity is nonsense (literally a meaningless string of words). /OT

[rpietila]

Just tell me, how (by what mechanism) can you stop all the money in the world from trying to enter into bitcoin in the following 7 months?

There are no bitcoins for sale, until the price is very high. There is only about 1.5MBTC in weak hands now. I will consider selling the bulk of mine at above $1M. I think that is substantially above the long term realistic value of $300k.

So you think there will be spike at about 1M USD per BTC?

Looking at the numbers - the global wealth is about 222 trillion USD and about 1/3 (on average) is held in liquid assets. So we are looking at BTC to be going worth at max 74 trillion/21million which is about 3.5 million USD per 1 BTC.

Yeah 1 million spike sounds reasonable.

During the heyday before the 266 crash, $10 million invested into bitcoin increased the marketcap by $100 million. This is because most of the coins are not traded, and will not be. The large holders do understand what I am saying, and will leave the haters to hate (and me to fend it off), while we all accumulate more and more bitcoins. I am not selling unless for investment, any time before $100k, and probably as we are there, I will have a hard time to start unloading, since the world will be all about bitcoin.

In January, if you bought bitcoins and mentioned it in a ball, they were looking at you like this: 

When bitcoin hits $100k, and you talk about soon selling yours, it will be the same: 

[Birdy]

During the heyday before the 266 crash, $10 million invested into bitcoin increased the marketcap by $100 million. This is because most of the coins are not traded, and will not be. The large holders do understand what I am saying, and will leave the haters to hate (and me to fend it off), while we all accumulate more and more bitcoins. I am not selling unless for investment, any time before $100k, and probably as we are there, I will have a hard time to start unloading, since the world will be all about bitcoin.

In January, if you bought bitcoins and mentioned it in a ball, they were looking at you like this:  

When bitcoin hits $100k, and you talk about soon selling yours, it will be the same:  

Although I'm not quite as optimistic as you, I think Bitcoin is the lottery ticket with highest chance of winning you can buy right now.
There is a realistic chance for 1M$ Bitcoins indeed, but I don't think it's for certain.

@everyone: So, if you know people playing lottery, tell them to buy Bitcoins instead xD

[Raize]

I am already creating serious ripples, when I jetset around the town trying to corner all prime available office space since I know, the other bitcoin millionaires/HNWI:s will be after the same thing in as little as 30-60 days.

What you described, blokes suddenly being lifted to world class, is exactly the mechanism that will finish bitcoin's rise from <1,000 to >1,000,000 this year. It just cannot take any longer any more. This is not 2011.

I have also been looking at commercial real estate.

I think a large number of us would have changed lives if Bitcoin hit $1,000. I don't see it going to even $10,000 anytime soon.

[bitcool]

Mother nature doesn't like singularity , that's why you don't see it,  ever .

Except, um, black holes?

exactly, when you "see" it, you've passed event horizon, and you know what's waiting for you 

[wormbog]

One million $ per BTC in 2013? Seriously guys, that's just ridiculous.

[rpietila]

One million $ per BTC in 2013? Seriously guys, that's just ridiculous.

Instead of outright denial, why don't you post some proof?

Currently I don't see a proof anywhere in this world that Bitcoin can go to zero, OR that it can go anywhere but up in the months and months to come.

[nobbynobbynoob]

One million $ per BTC in 2013? Seriously guys, that's just ridiculous.

It does sound ridiculous, doesn't it? But then, so does the idea that the Fed is "printing" $85 billion every month as part of its (cough, euphemism) "quantitative easing" program.

We can rise an order of magnitude or two within the next couple of years, I think, but of course past performance is no guarantee of future results. If you'd told me five months ago that now bitcoin would be trading at $130+ and litecoin at $4, I would have wondered what drugs you were on.

[anu]

One million $ per BTC in 2013? Seriously guys, that's just ridiculous.

It does sound ridiculous, doesn't it? But then, so does the idea that the Fed is "printing" $85 billion every month as part of its (cough, euphemism) "quantitative easing" program.

We can rise an order of magnitude or two within the next couple of years, I think, but of course past performance is no guarantee of future results. If you'd told me five months ago that now bitcoin would be trading at $130+ and litecoin at $4, I would have wondered what drugs you were on.

+1

[wormbog]

One million $ per BTC in 2013? Seriously guys, that's just ridiculous.

Instead of outright denial, why don't you post some proof?

Because I don't have the ability to travel through time.

[wormbog]

One million $ per BTC in 2013? Seriously guys, that's just ridiculous.

It does sound ridiculous, doesn't it? But then, so does the idea that the Fed is "printing" $85 billion every month as part of its (cough, euphemism) "quantitative easing" program.

We can rise an order of magnitude or two within the next couple of years, I think, but of course past performance is no guarantee of future results. If you'd told me five months ago that now bitcoin would be trading at $130+ and litecoin at $4, I would have wondered what drugs you were on.

Sure, 100x within 2 years, I'd call that unlikely but possible. I really hope that happens so I can go retire on a beach somewhere.

But the OP is predicting a rise from mid $130s to ONE MILLION BUCKS in 8 months. Does anyone else here believe that's possible?

[rpietila]

One million $ per BTC in 2013? Seriously guys, that's just ridiculous.

It does sound ridiculous, doesn't it? But then, so does the idea that the Fed is "printing" $85 billion every month as part of its (cough, euphemism) "quantitative easing" program.

We can rise an order of magnitude or two within the next couple of years, I think, but of course past performance is no guarantee of future results. If you'd told me five months ago that now bitcoin would be trading at $130+ and litecoin at $4, I would have wondered what drugs you were on.

Sure, 100x within 2 years, I'd call that unlikely but possible. I really hope that happens so I can go retire on a beach somewhere.

But the OP is predicting a rise from mid $130s to ONE MILLION BUCKS in 8 months. Does anyone else here believe that's possible?

It was me, not the OP 

[ThatDGuy]

One million $ per BTC in 2013? Seriously guys, that's just ridiculous.

It does sound ridiculous, doesn't it? But then, so does the idea that the Fed is "printing" $85 billion every month as part of its (cough, euphemism) "quantitative easing" program.

We can rise an order of magnitude or two within the next couple of years, I think, but of course past performance is no guarantee of future results. If you'd told me five months ago that now bitcoin would be trading at $130+ and litecoin at $4, I would have wondered what drugs you were on.

Sure, 100x within 2 years, I'd call that unlikely but possible. I really hope that happens so I can go retire on a beach somewhere.

But the OP is predicting a rise from mid $130s to ONE MILLION BUCKS in 8 months. Does anyone else here believe that's possible?

I would say that it's hard to believe, but also possible.  The last bubble drew quite an amount of interest to cryptocurrency, and it with it a lot of VC to improve the overall infrastructure.

[chiropteran]

Sure, 100x within 2 years, I'd call that unlikely but possible. I really hope that happens so I can go retire on a beach somewhere.

But the OP is predicting a rise from mid $130s to ONE MILLION BUCKS in 8 months. Does anyone else here believe that's possible?

rpietila is no troll.  If he says it is possible, I believe it.

[600watt]

It's gonna be bitcoin for sure. It cannot be stopped anymore, no way. I think it will reach $1M (per BTC) before Christmas this year, but the long-term value is not so high.

we all wish this could become true. but...

how should the bitcoin infrastructure cope with that ? remember the spike a few weeks ago ? mt.gox couldn´t handle it. lag. laaaaaaaaaaaaaaaaag... panic sell lemming stunt. while at the same time bitcointalk went offline, bitcoincharts went offline, no more prices, other exchanges getting in trouble because users went away from mt.gox ... it was a desaster.

at 250 $

what would happen at 2500,- ? imagine the media coverage. everything would get really crazy at a 2500 level. but what about 25 000,- ? pure madness. it would be in daily news, some news would start to broadcast live from tokyo 24/7. people would go nuts. every scammer would sell to every grandma, people would start killing each other over bitcoins. how would mt.gox and the rest of the infrastructure do at this point ? if all this and much more complete madness is going on, what is to expect at 250 000,- $ ? mt.gox would be in smoking ruins.

let´s say mt.gox pulls all the way through 1 btc = 1 million $  
if one cashes out his 100 btc he would have 100 mio $ on his account. (would sure look nice)
with the current rate of withdrawel of 10 000,- $ a month...  hm...  nice income for the next 833 years.  


much more likely: failing infrastructure making it bumpy all the way up to....  (?)

[rpietila]

It's gonna be bitcoin for sure. It cannot be stopped anymore, no way. I think it will reach $1M (per BTC) before Christmas this year, but the long-term value is not so high.

we all wish this could become true. but...

how should the bitcoin infrastructure cope with that ? remember the spike a few weeks ago ? mt.gox couldn´t handle it. lag. laaaaaaaaaaaaaaaaag... panic sell lemming stunt. while at the same time bitcointalk went offline, bitcoincharts went offline, no more prices, other exchanges getting in trouble because users went away from mt.gox ... it was a desaster.

at 250 $

what would happen at 2500,- ? imagine the media coverage. everything would get really crazy at a 2500 level. but what about 25 000,- ? pure madness. it would be in daily news, some news would start to broadcast live from tokyo 24/7. people would go nuts. every scammer would sell to every grandma, people would start killing each other over bitcoins. how would mt.gox and the rest of the infrastructure do at this point ? if all this and much more complete madness is going on, what is to expect at 250 000,- $ ? mt.gox would be in smoking ruins.

let´s say mt.gox pulls all the way through 1 btc = 1 million $  
if one cashes out his 100 btc he would have 100 mio $ on his account. (would sure look nice)
with the current rate of withdrawel of 10 000,- $ a month...  hm...  nice income for the next 833 years.  


much more likely: failing infrastructure making it bumpy all the way up to....  (?)

Of course it's bumpy, but that will just be a killing upon a killing for OTC dealers, like me.

If you want to learn how to profit, there is a summit in my sig.

Gox will be replaced by a dealer network this year