Bitcoin should be at $13,500 ?

[semaforo]

Its a market in its nascent stages, complexity is to be expected. Do you think WU was easy when they were still using the pony express? Give it 24 months once regulatory issues have been resolved competition will increase, complexity and costs will decrease and WU will be left in the dust.

WU could adapt and adjust, using bitcoin as their means of transfer.

    If WU starts using bitcoin, then I can finally become a professional philanthropist.

I rejected email in 1994. You mean I have to get a computer, learn how to use it, wrap my brain around concepts like "software," figure out how modems work, make a contract with an ISP, and then call tech support any time there's a problem? Why would I go through this ridiculously complicated process when I can just buy some stamps and put a letter in the post box?


     People still write letters today. I'm a bear on email. It's just a matter of time before someone hacks email or the government shuts it down because of all the criminals writing emails. Then we will all go back to letters and the beauty of receiving personal handwritten messages.

[1714767894]

1714767894

[HappyBitCoinUser]

Stop with BTC $1k - $1M cause its retarded and unrealistic. Its not even speculation, its trolling.

[wachtwoord]

Stop with BTC $1k - $1M cause its retarded and unrealistic. Its not even speculation, its trolling.

It is realistic. Honestly only $1k on the lower part of the spectrum is even pushing it because that is really low.

[Notanon]

No improved and simpler method of converting fiat to btc and back, such that the local village idiot can do so easily without getting confused, will mean that the price will just stagnate or decline at worst. Address this and the price will go back up, simple as that. Considering the number of alternative currencies springing up, which some people are naively or arrogantly ignoring, this makes a simple fiat conversion system that will give MtGox and co a run for their money even more critical.

BTC should be what Ripple is, a medium for buying things that allows some degree of privacy and can bypass ludicrous credit card and merchant fees, not an overspeculated pseudoasset like some people treat it to be.

[wachtwoord]

No improved and simpler method of converting fiat to btc and back, such that the local village idiot can do so easily without getting confused, will mean that the price will just stagnate or decline at worst. Address this and the price will go back up, simple as that. Considering the number of alternative currencies springing up, which some people are naively or arrogantly ignoring, this makes a simple fiat conversion system that will give MtGox and co a run for their money even more critical.

BTC should be what Ripple is, a medium for buying things that allows some degree of privacy and can bypass ludicrous credit card and merchant fees, not an overspeculated pseudoasset like some people treat it to be.

No, converting fiat is only the currently most prevalent way of acquiring Bitcoins. Soon*, the most prevalent method will instead change to real economic interaction.

* No clue what 'soon' is here though

[semaforo]

   It is impossible to think that bitcoin growth will be steady rather than exponential. For the growth not to be exponential, every person who finds out about bitcoin would have to tell only one person about it. Bitcoin's growth cannot help but accelerate.

   100k value for bitcoin sounds as absurd now as the earth being round when you can clearly see it's flat, or the earth rotating around the sun  when you can clearly feel that the earth is still and the sun moves in the sky above sounded at other times in history.

[Odalv]

   It is impossible to think that bitcoin growth will be steady rather than exponential. For the growth not to be exponential, every person who finds out about bitcoin would have to tell only one person about it. Bitcoin's growth cannot help but accelerate.

   100k value for bitcoin sounds as absurd now as the earth being round when you can clearly see it's flat, or the earth rotating around the sun  when you can clearly feel that the earth is still and the sun moves in the sky above sounded at other times in history.

+1 :-) lol

[bassclef]

   It is impossible to think that bitcoin growth will be steady rather than exponential. For the growth not to be exponential, every person who finds out about bitcoin would have to tell only one person about it. Bitcoin's growth cannot help but accelerate.

   100k value for bitcoin sounds as absurd now as the earth being round when you can clearly see it's flat, or the earth rotating around the sun  when you can clearly feel that the earth is still and the sun moves in the sky above sounded at other times in history.

I like the way you think.

[legendster]

Bitcoins are coming down, and the clones (alt coins) will go up.

There is no limited supply of 'bitcoins' and all it takes is copy and paste, and can create lots of coins.

you mad bro ?

[johnyj]

  It is impossible to think that bitcoin growth will be steady rather than exponential. For the growth not to be exponential, every person who finds out about bitcoin would have to tell only one person about it. Bitcoin's growth cannot help but accelerate.

   100k value for bitcoin sounds as absurd now as the earth being round when you can clearly see it's flat, or the earth rotating around the sun  when you can clearly feel that the earth is still and the sun moves in the sky above sounded at other times in history.

+100
 

However, money has a strange character: Without money nothing can be done, but with only one type of money anything can be done, unless the merchant exclusively require bitcoin payment (just like EU merchants only accepting €), people do not have the motivation to exchange to bitcoin and spend (due to added complexitiy in exchange process), it will take some time for a bitcoin-only economy to build up

But I think this will happen eventually, sooner or later some producer with excessive amount of cash flow and some investment in bitcoin will provide bitcoin-only sale for part of their product line, and that will create a miracle in business history: The more you sell, the more valuable your income will become, and this will create a snowball effect and more and more merchant will join the bitcoin-only sale party

[jhansen858]

it has lots of great properties — negligible transaction fees (...)

Bullshit.
My credit card is free of charge for me (as a customer), I don't give a shit if the merchant have to pay an American company for providing this service. But I know, and I care, that everywhere in the country I can use it, without paying any fee. Bitcoins fees are way too high.

Except you don't realize there is a hidden tax.  Merchants pay up to 3%-4% for each transaction.  You think they just eat that cost and pass 0% of it on to you in the form of higher prices?

Sorry to burst the bubble but what you said is simply not correct.

[suryc]

it has lots of great properties — negligible transaction fees (...)

Bullshit.
My credit card is free of charge for me (as a customer), I don't give a shit if the merchant have to pay an American company for providing this service. But I know, and I care, that everywhere in the country I can use it, without paying any fee. Bitcoins fees are way too high.

Except you don't realize there is a hidden tax.  Merchants pay up to 3%-4% for each transaction.  You think they just eat that cost and pass 0% of it on to you in the form of higher prices?

Sorry to burst the bubble but what you said is simply not correct.

I completely agree with your sentiment and I already tried to explain that to him. He doesn't want to understand.

[Frizz23]

My balls should be at 5 billion US$ each!

There are 22 million Bitcoin, but there are only two of my balls -> so very rare thing.

Geez, people! 13,500? Seriously?

As long as I can't pay for a Cheeseburger with Bitcoins it's value is pure speculation.

[painlord2k]

As long as I can't pay for a Cheeseburger with Bitcoins it's value is pure speculation.

It was not "until I can pay my pizza, it is just speculation".
http://foodly.com/
http://pizzaforcoins.com/

Or was "until I can pay my bills"?
http://billpayforcoins.com/index.php

[ShroomsKit]

Bitcoins are coming down, and the clones (alt coins) will go up.

There is no limited supply of 'bitcoins' and all it takes is copy and paste, and can create lots of coins.

So how many million Bitcoins do you have?

[wachtwoord]

My balls should be at 5 billion US$ each!

There are 22 million Bitcoin, but there are only two of my balls -> so very rare thing.

Geez, people! 13,500? Seriously?

As long as I can't pay for a Cheeseburger with Bitcoins it's value is pure speculation.

But (1) it isn't easy to transfer your balls quickly and cheaply, (2) your balls are easily forgeable (I cannot tell the difference with someone else's balls) and (3) it's hard to divide your balls up indefinitely and still be able to tell those are pieces of your balls.

Bitcoins does all of these (and PM accomplishes them better than your balls, though rather imperfect).

[flavius]

you know, I can't say much for bitcoin at it's current time, but I think I'll go ahead and put 10-50 coins on a drive and put it in storage, then not check the price of bitcoin for 20 years.

[wachtwoord]

you know, I can't say much for bitcoin at it's current time, but I think I'll go ahead and put 10-50 coins on a drive and put it in storage, then not check the price of bitcoin for 20 years.

Good lad.

[neilol]

Its a market in its nascent stages, complexity is to be expected. Do you think WU was easy when they were still using the pony express? Give it 24 months once regulatory issues have been resolved competition will increase, complexity and costs will decrease and WU will be left in the dust.

WU could adapt and adjust, using bitcoin as their means of transfer.

    If WU starts using bitcoin, then I can finally become a professional philanthropist.

I rejected email in 1994. You mean I have to get a computer, learn how to use it, wrap my brain around concepts like "software," figure out how modems work, make a contract with an ISP, and then call tech support any time there's a problem? Why would I go through this ridiculously complicated process when I can just buy some stamps and put a letter in the post box?


     People still write letters today. I'm a bear on email. It's just a matter of time before someone hacks email or the government shuts it down because of all the criminals writing emails. Then we will all go back to letters and the beauty of receiving personal handwritten messages.

This is gold

[Cluster2k]

I personally feel that all threads along the lines of 'bitcoin going to $10k' or 'bitcoins worth $1M' do more harm than good to bitcoin's reputation.  While speculation is fun there are two factors at play: No one can predict the future value of bitcoins with any certainty, and outsiders reading this forum may form the idea that bitcoin is just one huge get-rich-quick scheme full of people sitting and waiting to become millionaires.