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

[Anon136]

Within a year or two, I think. With the caveat it might also drop to zero.

I agree, if bitcoin doesn't fail and drop to $0, it will absolutely reach $1000, and almost certainly reach $10,000.

10,000??! That's kind of a stretch, though bitcoin will remain as a primarily accepted universal cryptocoin

I see no reason that the value of a mBTC can't grow from it's current $0.70 to $10.00. It already reached $1.20 about a month ago. Does $10 really sound like such a huge number that it's "kind of a stretch?"

i move that mBTC just be called bits. i.e. "How much for this gallon of milk?", "That will be 3 bits please"

[DannyHamilton]

i move that mBTC just be called bits. i.e. "How much for this gallon of milk?", "That will be 3 bits please"

I'd prefer miliBits, millies, or mils.

bits is already a name for a value of US currency equivalent to $0.125

two bits currently means $0.25 (or a quarter).

[theBishop]

I heard old podcast on Letstalkbitcoin! who talk about calling it embit or thats how would pronounce.  I prefer because its easiest and only two syllables.  Easy to say like.

[Mustang_Brett]

It's crazy.  Who knows what will happen.  With so many people invested and the trend of investors going upwards I think growth is likely..

[owox]

Yes and higher.

People will start trading alternative coins soon and Bitcoin will become more of a 'hold asset'. This will drive up demand and reduced supply prices will go up. Additionally, once people understand that Bitcoins can be used in 0.01 or 0.001 units they will ensure that their products are made available. The cost of trading in bitcoin will be much lower, but i will assume that volume of bitcoin trades will reduce due to increasing value.

[Soull]

Yes and higher.

People will start trading alternative coins soon and Bitcoin will become more of a 'hold asset'. This will drive up demand and reduced supply prices will go up. Additionally, once people understand that Bitcoins can be used in 0.01 or 0.001 units they will ensure that their products are made available. The cost of trading in bitcoin will be much lower, but i will assume that volume of bitcoin trades will reduce due to increasing value.

Very very true!

[TRON64bit]

look here:

Winklevoss twins predict $400b market cap for bitcoin.

http://www.forbes.com/sites/afontevecchia/2013/11/12/winklevoss-twins-say-bitcoin-market-to-hit-400b-urge-regulators-not-to-push-innovation-to-china/

so i guess one day it could reach $1000

[debuni]

Guess will reach 1K in the mid Jan again
Now are Holidays

[leuckest]

I hope your optimistic previsions get confirmed! Than I'll be so damn rich... 

[Soull]

Guess will reach 1K in the mid Jan again
Now are Holidays

Interesting opinion! I'd really love to hear more from you in my thread: https://bitcointalk.org/index.php?topic=385313.0

Much love!
Soull

[infinitybo]

@Leuckest you are not the one in this situation because nothing is impossible tho.

[zeraTunerse]

look here:

Winklevoss twins predict $400b market cap for bitcoin.

http://www.forbes.com/sites/afontevecchia/2013/11/12/winklevoss-twins-say-bitcoin-market-to-hit-400b-urge-regulators-not-to-push-innovation-to-china/

so i guess one day it could reach $1000

It is about $20,000/Bitcoin in 15 years
Definitively possible

[Framewood]

I see Bitcoin more as more of an investment coin and one of the newer faster coins being used for everyday transactions.

I like what NXT is doing and has proposed for the future.

[geraFoerra]

I see Bitcoin more as more of an investment coin and one of the newer faster coins being used for everyday transactions.

But the reality is different, you can use Bitcoin for buying stuff and alternative coins just as speculative investment

[trl55238]

I see Bitcoin more as more of an investment coin and one of the newer faster coins being used for everyday transactions.

But the reality is different, you can use Bitcoin for buying stuff and alternative coins just as speculative investment

You can't use bitcoin for buying stuff on the fly. Too much wait time cos too many conformations are necessary for it to be adopted by the mainstream brick-and-mortar stores. Full service Restaurants and bars do accept it cos you'll be sitting there a while. So yeah.. Any store where you normally would be in and out of in 5 minutes are never going to have any use for bitcoin. Those alts that were mentioned earlier are probably a better bet. In the long run, next generation currencies like Nxt with near-instant confirmation will likely be the staple for such transactions.

[Elkuurbitcoins]

You can't use bitcoin for buying stuff on the fly. Too much wait time cos too many conformations are necessary for it to be adopted by the mainstream brick-and-mortar stores. Full service Restaurants and bars do accept it cos you'll be sitting there a while. So yeah.. Any store where you normally would be in and out of in 5 minutes are never going to have any use for bitcoin. Those alts that were mentioned earlier are probably a better bet. In the long run, next generation currencies like Nxt with near-instant confirmation will likely be the staple for such transactions.

Is there nothing that can be done about that? To speed up confirmation times?

[thedarksun]

Guys, after chinese new year when the third party exchanges no longer function in china, I think the price might drop to 100 dollars.

[Soull]

Guys, after chinese new year when the third party exchanges no longer function in china, I think the price might drop to 100 dollars.

Interesting opinion, Id love it if you would share your opinions in this thread:
https://bitcointalk.org/index.php?topic=385313.msg4162069#msg4162069

When is chinese new year? what do u mean "third party exchanges no longer fucntion" ? Isn't 100 dollars a little TO low?

Please, write what you wrote here and if you want to answer my question also please do that in the thread i just shared I would appreciate it, and many other would to

Much Love!
Soull

[greenlion]

You can't use bitcoin for buying stuff on the fly. Too much wait time cos too many conformations are necessary for it to be adopted by the mainstream brick-and-mortar stores. Full service Restaurants and bars do accept it cos you'll be sitting there a while. So yeah.. Any store where you normally would be in and out of in 5 minutes are never going to have any use for bitcoin. Those alts that were mentioned earlier are probably a better bet. In the long run, next generation currencies like Nxt with near-instant confirmation will likely be the staple for such transactions.

This entire statement is based on a complete misunderstanding of what confirmation actually means. For the purposes of a point of sale situation, simply seeing the transaction broadcast on the network is good enough.

[Mustang_Brett]

It is about $20,000/Bitcoin in 15 years

Personally, I think we're just starting to see the initial mainstream adoption of BitCoin and the associated value rise that goes with it.  I think it will continue to increase in value quickly over the next year or two but I expect it will stall for a month or two as cautious people hold back.  I think that's the reason why mainstream banking is now trying to close the doors on it as it sees BitCoin thriving and they want to stop it while they can.

I think it's too late for that and after some initial pushback we'll see the "If you can't beat them, join them" phase and that's when BitCoin will take it's final spurt until it hits its ceiling.  I see 2/3 Altcoins following suit but with lower values attached to them.

Mustang Brett