Anon136
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November 07, 2013, 05:47:37 PM |
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at this rate, probably later this afternoon...
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Rep Thread: https://bitcointalk.org/index.php?topic=381041If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited? |
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birkomester
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November 07, 2013, 06:20:09 PM |
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It will reach.
The real question is : when?
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monbux
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November 07, 2013, 10:15:12 PM |
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And now bitcoin has hit $300 USD, that is amazing... Most of us weren't expecting that until next year o.O
I guess the chinese really love bitcoin. I think bitcoin might hit $1000 in a year or two at this pace.
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Gator-hex
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November 07, 2013, 10:19:42 PM |
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Keep this in mind... When 1 Satoshi (0.00000001BTC) = 1 cent then 1BTC = $1million One day we will buy our goods and services in Satoshis, not Bitcoins.  |
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neordicICE
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November 07, 2013, 10:23:38 PM |
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Bitcoin will hit $1000 next year at this pace, this Im confident. No need to sell all Bitcoins now |
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Dessy
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November 07, 2013, 10:37:52 PM |
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As far as I know from what I've read about bitcoins in general they will eventually reach a price possibly as high as $1000. There's no way of knowing for sure but as there are a limited supply of them you never know. I'm going to keep ahold of 10-20 of them for a few years and see what the price is like. Might make me a few thousand or cost me a few thousand. Will just have to wait and see :p
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Valerian77
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November 07, 2013, 10:49:44 PM |
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Keep this in mind... When 1 Satoshi (0.00000001BTC) = 1 cent then 1BTC = $1million One day we will buy our goods and services in Satoshis, not Bitcoins. maybe - but that is not possible before the Bitcoin market consumes 21E12 €. Not sure where we are now - but the pure trading market is around 25E8 €. That means the market must grow by factor 10000 - not a small number. 1000$ next year is nearly sure because not only China comes also India will adopt Bitcoins. Then the market size will be something like 1000 $ x 12E6 = 12E9 $ ~ 9.65E9 €. |
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Lauda
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Terminated.
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November 07, 2013, 10:52:16 PM |
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maybe - but that is not possible before the Bitcoin market consumes 21E12 €. Not sure where we are now - but the pure trading market is around 25E8 €. That means the market must grow by factor 10000 - not a small number.
1000$ next year is nearly sure because not only China comes also India will adopt Bitcoins. Then the market size will be something like 1000 $ x 12E6 = 12E9 $ ~ 9.65E9 €.
You do realize that considering the amount of people who have actually bought bitcoin or are using it is so small compared to the amount of people using the internet, that this growth factor is actually considered small? |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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Valerian77
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November 07, 2013, 11:02:49 PM |
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maybe - but that is not possible before the Bitcoin market consumes 21E12 €. Not sure where we are now - but the pure trading market is around 25E8 €. That means the market must grow by factor 10000 - not a small number.
1000$ next year is nearly sure because not only China comes also India will adopt Bitcoins. Then the market size will be something like 1000 $ x 12E6 = 12E9 $ ~ 9.65E9 €.
You do realize that considering the amount of people who have actually bought bitcoin or are using it is so small compared to the amount of people using the internet, that this growth factor is actually considered small? I just referred to the former posting from Gator-hex. My point of view is that there must be somebody investing the money into Bitcoin to blow up the value or the market has to adopt very fast which is so unlikely. So we will see the outsome after China and India are in. |
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Lauda
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November 07, 2013, 11:20:08 PM |
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I just referred to the former posting from Gator-hex. My point of view is that there must be somebody investing the money into Bitcoin to blow up the value or the market has to adopt very fast which is so unlikely. So we will see the outsome after China and India are in.
I understand that. I was just pointing out that 1 satoshi being 1 cent is a possibility. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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KonstantinosM
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November 08, 2013, 12:03:52 AM |
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I already like calculating my every transaction in satoshis.
I did that since bitcoin hit $10
It makes me feel rich as hell!
When bitcoin hits $1000 we'll throw large bitcoin parties all over the world!
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Syscoin has the best of Bitcoin and Ethereum in one place, it's merge mined with Bitcoin so it is plugged into Bitcoin's ecosystem and takes full advantage of it's POW while rewarding Bitcoin miners with Syscoin
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Current C
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November 08, 2013, 12:10:00 AM |
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There is alot of volatility in Bitcoin. Im not certain it will I am however hopeful. I've been watching it for over 2 years now. Its been a roller coaster for sure. Some unrelated things have caused it to crash have been resolved. With anything highly volatile there's great risks and great rewards. I kick myself for not getting more involved earlier on. But had the 10 dollar coins I could have bought gone to 20 or 50 dollars I would likely have sold my position. I think wider adoption will be a key motivator in the broader fiat value of the coin. A common but misunderstood philosophy is the coin itself is more valuable than fiat. I recognize this. I tried explaining this to my friend who kind of refuses to understand much of anything yet argues simply on the merits of having a point. I told him to put his money where his mouth is. He's since shut up now that Mt. Gox is trading at above historical levels.  So, in short I am going to work very hard at simplifying the coin and hopefully broadening the market that accepts it. I really feel bad for late coming miners duped by the asics that are now readily available and essentially killing the mining scene. |
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Lauda
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November 08, 2013, 05:35:20 AM |
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I already like calculating my every transaction in satoshis.
I did that since bitcoin hit $10
It makes me feel rich as hell!
When bitcoin hits $1000 we'll throw large bitcoin parties all over the world!
That is certainly an optimistic way of looking at it. Why not?  |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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birkomester
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November 08, 2013, 08:03:12 AM |
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In 2014-15 i think bitcoin will reach 1000$
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ferda2mx
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November 08, 2013, 08:27:49 AM |
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maybe - but that is not possible before the Bitcoin market consumes 21E12 €. Not sure where we are now - but the pure trading market is around 25E8 €. That means the market must grow by factor 10000 - not a small number.
factor 10000 is just 4 consecutive year increase by 10x. Given historial growth, it is very reasonable, but I understand exponentially growth cannot last forever... |
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PrintMule
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November 08, 2013, 01:06:27 PM |
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I just had an idea Imagine a scenario when all bitcoin is intentionally destroyed via sending to trash wallet, but just a handful of coins remain, say 100 of them. 1000$ for 1 memorabilia btc Maybe in a golden hard coin form. |
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DodoB
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November 08, 2013, 01:27:31 PM |
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I just had an idea Imagine a scenario when all bitcoin is intentionally destroyed via sending to trash wallet, but just a handful of coins remain, say 100 of them. 1000$ for 1 memorabilia btc Maybe in a golden hard coin form. uhh why would this happen? it will never happen so there is not point thinking what if |
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TheDragonSlayer
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November 08, 2013, 02:09:55 PM |
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At the rate Bitcoin is going up, I did say next month..
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greenlion
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November 08, 2013, 08:39:09 PM |
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I think there is good reason to believe that Bitcoin really already should be at $1000.
If you look at the behavior of miners with respect to hardware, they're already behaving as though BTC is worth about $1000. Granted some proportion of the hashing power being put online now are delayed pre-orders trying to recoup some of the sunk cost on what is already a negative ROI versus outright coin buying, but there are plenty of orders happening right now under very comparable return calculations. Are we to believe simply that all miners are just greedy delusional idiots?
The behavior of miners suggests to me that there is some inherent structural bottleneck right now artificially suppressing outright buying demand, probably something to do with the barrier of dealing with exchanges with national fiat (for example the delays in electronic transfers from conventional bank accounts is absolutely killer for anyone serious about trading). I think it's unreasonable to just assume that the higher level of anonymity inherent to mining (i.e. no "cash business" reporting requirements, etc.) supports that much of a premium.
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