will the bitcoin reach $1000 one day...?

[favdesu]

It's on its way too moon, but will it last? When will the bubble explode?

[over1977v]

If you count inflation then yes? In 1000 years it will hit 1000$. But if you compare current value i think true value of bit coin is 300$ and it will stuck there.

But when USD is inflating and BTC get stuck on 300$ for next 1000 years ( ), Bitcoin is big fail, right?

[j68r]

It's on its way too moon, but will it last? When will the bubble explode?

There isn't a bubble, there is an expanding process. btc is currently an insignificance globally. That's obviously lost on those who eat, breath and sleep bitcoin but that's just the uncomfortable truth. At the moment it's mostly caught in a circle jerk propped up by mining, with hardware, energy and speculation driving prices up. Until it gets into real market places, globally, and a proper price discovery mechanism kicks in then it's anyone's guess what it's true value is.

What I find confusing is how some seem obsessed with measuring its "value" in filthy corrupt fiat. A symbol of the stinking cess pit of corporate corruption, captured government and their theft of public wealth the world over, using all but worthless bankster wealth transfer tickets trading on little more than a psychotic faith in an unsustainable, not quite broken (yet) system, and the obscene debt slavery to be imposed on all those unfortunate generations yet to come.

How can something like fiat ever be used to measure something as honest and untainted as btc. Obviously the measure is valid at any point in time, but is it really a meaningful indicator? I'd have to say that until btc and fiat start to go head to head and compete for the trust of the people in the same space, it's of little use knowing what they're "worth" other than for short term speculation that btc will ultimately fail.

What matters is that btc can at some point be used as a universally accepted means of exchange for things people really need, essential goods, food, fuel & shelter. I hope it gets there one day if not shut down by the global banksters and their captured government stooges protecting their fiat extortion racket. I can't see how btc, or some subordinate equivalent, can avoid becoming the primary means of exchange for those goods and services if it can survive. That said btc is a very, very long way from that day and until it manages to get there it's not, as a concept, really worth anything much at all to the public beyond being a bit of an expensive novelty.

[600watt]

It's on its way too moon, but will it last? When will the bubble explode?

There isn't a bubble, there is an expanding process. btc is currently an insignificance globally. That's obviously lost on those who eat, breath and sleep bitcoin but that's just the uncomfortable truth. At the moment it's mostly caught in a circle jerk propped up by mining, with hardware, energy and speculation driving prices up. Until it gets into real market places, globally, and a proper price discovery mechanism kicks in then it's anyone's guess what it's true value is.

What I find confusing is how some seem obsessed with measuring its "value" in filthy corrupt fiat. A symbol of the stinking cess pit of corporate corruption, captured government and their theft of public wealth the world over, using all but worthless bankster wealth transfer tickets trading on little more than a psychotic faith in an unsustainable, not quite broken (yet) system, and the obscene debt slavery to be imposed on all those unfortunate generations yet to come.

How can something like fiat ever be used to measure something as honest and untainted as btc. Obviously the measure is valid at any point in time, but is it really a meaningful indicator? I'd have to say that until btc and fiat start to go head to head and compete for the trust of the people in the same space, it's of little use knowing what they're "worth" other than for short term speculation that btc will ultimately fail.

What matters is that btc can at some point be used as a universally accepted means of exchange for things people really need, essential goods, food, fuel & shelter. I hope it gets there one day if not shut down by the global banksters and their captured government stooges protecting their fiat extortion racket. I can't see how btc, or some subordinate equivalent, can avoid becoming the primary means of exchange for those goods and services if it can survive. That said btc is a very, very long way from that day and until it manages to get there it's not, as a concept, really worth anything much at all to the public beyond being a bit of an expensive novelty.

the leveling up of the new technology (bitcoin) with the old fashioned banking dinosaur technology will not result in the destruction of fiat currencies. if you bought bitcoin for dollars the dollars aren´t worthless after the trade. someone else owns them now. all the fiat money will get sucked into btc sooner or later, because it is profitable, and the more flows in, the more profitable it gets. perfect self fulfilling prophecy.

[j68r]

the leveling up of the new technology (bitcoin) with the old fashioned banking dinosaur technology will not result in the destruction of fiat currencies. if you bought bitcoin for dollars the dollars aren´t worthless after the trade. someone else owns them now. all the fiat money will get sucked into btc sooner or later, because it is profitable, and the more flows in, the more profitable it gets. perfect self fulfilling prophecy.

Fiat is unlimited, it's value is very close to zero. Ultimately it will have to come down to a battle for trade and trusted means of exchange and I can't see the money printing masters of the universe allowing that battle to not go their way, by hook or by crook. The only thing preventing a fiat close to zero value realisation now is the prosperity borrowed with increasingly colossal and insurmountable debts kicked forward to the future and the hyper-inflation being held back by corporate entities sitting on truly vast cash reserves.

[evansearle42]

Yup, lets see if Earth survive longer or the Bitcoin hit $1000 first...

[Oswego]

I think bitcoins will reach 1000$ soon, you just have to see how's the trend in the last year.

Even if now we are in a bubble, it will explode and it will start rising again. That's sure.

[waltermot321]

I'd like to understand why somebody thinks a Bitcoin will be worth $1000.
I don't buy into the "Bitcoin as currency" at all. To me it is strictly an electronic
commodity, and a highly speculative one at that. Lack of a stable value
makes a currency completely unworkable, in my opinion.

Bitcoin is not a currency or a commodity. It's a protocol, like FTP or E-mail or BitTorrent, which allows you to store and transmit value. It doesn't really care what that value is worth. So, even if you discount the speculative commodity-like nature of it, and only use it to send money back and forth like PayPal (USD/EUR -> BTC -> USD/EUR within  a few seconds), which is already way cheaper to do with Bitcoin that with other systems, especially internationally, then its value will still grow just due to the amount of bitcoin stuck in those seconds-long transactions.

Exactly:
Paypal right now is processing about $170 billion per year, and going up by >25% year on year, and of course it is not the only player by any means.  And there is no reason to suppose that the growth rate will decline in next five years.  So in 5 years' time, we can suppose that the addressable transaction volume for Bitcoin will be at least $500 billion.

In 5 years' time, there will be 17.5 million bitcoins in circulation.  Let's suppose that they are all used only to transmit value, with absolutely zero hoarding. A $1000 value would equate to a total value of $17.5 billion.  In other words, Bitcoin would have a 3.4% share of the $500 billion "Paypal" market.

In reality, I'm sure it will continue to be held as a speculative store of value, and that of course will send it up against the fiat currencies.  So, even if it doesn't get to a 3% share of Paypal's market that quickly, it seems to me to be certain that it will either have disappeared or will have comfortably exceeded the $1,000 benchmark within less than 10 years. 

Well, if paypal accept Bitcoin then it would even surpass the $500 billion paypal market...

[ferda2mx]

Exactly:
Paypal right now is processing about $170 billion per year, and going up by >25% year on year, and of course it is not the only player by any means.  And there is no reason to suppose that the growth rate will decline in next five years.  So in 5 years' time, we can suppose that the addressable transaction volume for Bitcoin will be at least $500 billion.

In 5 years' time, there will be 17.5 million bitcoins in circulation.  Let's suppose that they are all used only to transmit value, with absolutely zero hoarding. A $1000 value would equate to a total value of $17.5 billion.  In other words, Bitcoin would have a 3.4% share of the $500 billion "Paypal" market.

In reality, I'm sure it will continue to be held as a speculative store of value, and that of course will send it up against the fiat currencies.  So, even if it doesn't get to a 3% share of Paypal's market that quickly, it seems to me to be certain that it will either have disappeared or will have comfortably exceeded the $1,000 benchmark within less than 10 years. 

Seems $1.000 is pretty reasonable and $10.000 still possible, it would be just 34% share of the $500 billion "Paypal" market in 5 years

[Welsh]

Of course $1000 is reasonable. $10,000 is also probable. But, it doesn't mean that we will ever get there. There will be many factors which determine the future for Bitcoin. Hopefully, it will be for the best.



It's nearly at $200 now as of 22/10/2013.

[c1010010]

Of course $1000 is reasonable. $10,000 is also probable. But, it doesn't mean that we will ever get there. There will be many factors which determine the future for Bitcoin. Hopefully, it will be for the best.



It's nearly at $200 now as of 22/10/2013.

"probable. But, it doesn't mean that we will ever get there"



"Possible" perhaps.

[fleabag]

no i bet my life on it.

[Rassah]

no i bet my life on it.

Will you literally do that once that is an option?

[oyeTorry]

Even if now we are in a bubble, it will explode and it will start rising again. That's sure.

This, it is just matter of time I believe. One day, a bubble will touch 1000. Stable 1000+ will take more time though

[PrintMule]

if bubble reaches 1k, i will cut myself

literally

[viper262]

Yes, undoubtedly. The more proactive we are, the faster we will get there. I'm just happy to be a part of such an amazing time.

[honky1492]

if bubble reaches 1k, i will cut myself

literally

Your safe now I believe, this bubble wont go to 1k...

But maybe next year bubble will...  

[bitbitcoins]

if bubble reaches 1k, i will cut myself

literally

Your safe now I believe, this bubble wont go to 1k...

But maybe next year bubble will...  

That is too early as well.
I'll just dump 1000k at you guys 

agree

[pyromaniac]

Definitely, it will! I think that should happen until this Christmas. Yes, I still believe in miracles. 

[Goldenboy]

yes