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

[hl5460]

Economic crisis in the BRICS will drive BTC to 500+ by the end of this year.

[ferda2mx]

USD is base on Gold it suppose to have.

Mistypo: USD is backed not by Gold but by God, at least they believe

[bezzeb]

Depends on how suicidal the U.S government and Federal Reserve is feeling, there's every possibility.

Thanks, you made the point i wanted to make.  I'd just add that the existence of bitcoin may have a stabilizing influence on fiat currencies due to competitive pressures which are likely (but not guaranteed) to develop.  It might "keep them honest" to a degree.

If this happens, then bitcoin growth may slow as bitcoin will only hit sectors where it has an uber obvious competitive advantage such as international transactions.

If however the USD is driven deep enough into the hole, then hold on to your horse - it will be quite a ride.

[CrashX]

USD is base on Gold it suppose to have.

Mistypo: USD is backed not by Gold but by God, at least they believe

Not sure about that, I'm an atheist, so they better have a shit load of Gold in Fort Knox.  <-- I think that's where they keep it...

[Taras]

I really think bitcoin will become exponentially more valuable than it is today.
However it has a lot more attention today, and as its userbase expands it will have a lot more people hoarding it. It may take a decade for the $1,000 mark, but it is imminent.

USD is base on Gold it suppose to have.

Today, like the currency of most nations, the dollar is fiat money, unbacked by any physical asset. A holder of a federal reserve note has no right to demand an asset such as gold or silver from the government in exchange for a note. Bitcoin and USD thus has something in common; except note that bitcoin is very limited in supply, and the government doesn't hesitate to print USD that it doesn't have.

[CrashX]

I really think bitcoin will become exponentially more valuable than it is today.
However it has a lot more attention today, and as its userbase expands it will have a lot more people hoarding it. It may take a decade for the $1,000 mark, but it is imminent.

USD is base on Gold it suppose to have.

Today, like the currency of most nations, the dollar is fiat money, unbacked by any physical asset. A holder of a federal reserve note has no right to demand an asset such as gold or silver from the government in exchange for a note. Bitcoin and USD thus has something in common; except note that bitcoin is very limited in supply, and the government doesn't hesitate to print USD that it doesn't have.

Im afraid your wrong. Bitcoin its 010101's only its worth nothing.  IF you ever play an RPG game is the same thing.

Ask any person how much World of Warcraft Gold was worth 5 years ago and what is worth now.

Bitcoin and Playing WoW is pretty much the same concept except that to find gold in WoW you had to sit their for a while to find it.  Eventually they came out with WoW Bots that did the job for you ... same as Bitcoin a bot decoding encrypted files/blocks...

Dollar or any currency is 100% backed by Gold or valuable Minerals. When a country does an currency exchange they exchange by gold.


Lets say that Mexico Government  has  1bLn US dollar they will send it back to the US Government and the US will send 1billion dollars worth of gold or a some mineral they asked for.

Ask anybody that does currency exchange.

[Mirk0]

I really think bitcoin will become exponentially more valuable than it is today.
However it has a lot more attention today, and as its userbase expands it will have a lot more people hoarding it. It may take a decade for the $1,000 mark, but it is imminent.

USD is base on Gold it suppose to have.

Today, like the currency of most nations, the dollar is fiat money, unbacked by any physical asset. A holder of a federal reserve note has no right to demand an asset such as gold or silver from the government in exchange for a note. Bitcoin and USD thus has something in common; except note that bitcoin is very limited in supply, and the government doesn't hesitate to print USD that it doesn't have.

+1
USD doesn't have any backup. It used to have but not anymore. Central bankers changed the shit to their favour. They wanted to print money - they can now. And there is no gold backup. USA has currently the biggest debt in the history of our world.

[Taras]

Im afraid your wrong. Bitcoin its 010101's only its worth nothing. 

If you call bitcoin worthless for being 010101's, saying
USD its paper only its worth nothing.
is completely justified. Niether currency has anything backing it up.

IF you ever play an RPG game is the same thing.
Ask any person how much World of Warcraft Gold was worth 5 years ago and what is worth now.

People WANT these currencies nonetheless. It has value because people spend it on having some fun.

Bitcoin and Playing WoW is pretty much the same concept except that to find gold in WoW you had to sit their for a while to find it.  Eventually they came out with WoW Bots that did the job for you ... same as Bitcoin a bot decoding encrypted files/blocks...

Bitcoin was meant to be mined with bots. These are called miners. WoW bots made the gold more available; Since bitcoin has always been mined by high-efficiency machines, and not once by hand, the same downfall could not be applied.

Dollar or any currency is 100% backed by Gold or valuable Minerals. When a country does an currency exchange they exchange by gold.

USD has NOTHING backing it up. Only people's belief that it has value is what gives it value. It is a fiat currency.
Banks and countries are perfectly well with trading via gold. Everyone loves it. USD is no longer backed by it.

Lets say that Mexico Government  has  1bLn US dollar they will send it back to the US Government and the US will send 1billion dollars worth of gold or a some mineral they asked for.

That's called the Mexican Government buying gold from the US Government.

[geofflosophy]

I really think bitcoin will become exponentially more valuable than it is today.
However it has a lot more attention today, and as its userbase expands it will have a lot more people hoarding it. It may take a decade for the $1,000 mark, but it is imminent.

USD is base on Gold it suppose to have.

Today, like the currency of most nations, the dollar is fiat money, unbacked by any physical asset. A holder of a federal reserve note has no right to demand an asset such as gold or silver from the government in exchange for a note. Bitcoin and USD thus has something in common; except note that bitcoin is very limited in supply, and the government doesn't hesitate to print USD that it doesn't have.

+1
USD doesn't have any backup. It used to have but not anymore. Central bankers changed the shit to their favour. They wanted to print money - they can now. And there is no gold backup. USA has currently the biggest debt in the history of our world.

This is misleading, because as a percentage of GDP our debt is nowhere near the biggest in the history of the world.

[Rassah]

Im afraid your wrong. Bitcoin its 010101's only its worth nothing.  IF you ever play an RPG game is the same thing.

Ask any person how much World of Warcraft Gold was worth 5 years ago and what is worth now.

Bitcoin and Playing WoW is pretty much the same concept except that to find gold in WoW you had to sit their for a while to find it.  Eventually they came out with WoW Bots that did the job for you ... same as Bitcoin a bot decoding encrypted files/blocks...

Dollar or any currency is 100% backed by Gold or valuable Minerals. When a country does an currency exchange they exchange by gold.

Are you a troll? USD hasn't been backed by gold since before the 70's. It's backed by nothing but the people willing to accept it for payment, and the government and central banks promising they won't devalue it through hyperinflation.

As for your WoW comparison, the difference between Bitcoin and WoW is that Blizzard can make as much WoW gold as they want (thus making everyone else's gold worth a lot less), or worse, Blizzard can just shut down WoW, or be shut down by someone else, making WoW gold instantly worthless. Bitcoin isn't owned or operated by anyone, so no one can make bitcoins on a whim, and no one can shut down bitcoin. That's why Bitcoin is so valuable and has so much support.


Even if USD was backed by gold, you still have to rely on the promises of politicians that they will give you X amount of gold for Y amount of USD. So, whom do you trust more? A promise of a few politicians who have shown to be professional liars? Or a database secured by math, and computing power that is greater than 500 of the world's top supercomputers combined?

[totemITnow]

Dollar or any currency is 100% backed by Gold or valuable Minerals.

Old times are gone. Today you will not find such statement on dollar banknote.

[paraipan]

Related to centralized WOW Gold

http://us.battle.net/wow/en/forum/topic/4917951761

http://us.battle.net/wow/en/forum/topic/8568987406


And a good read on hyperinflation when compared to virtual and RL situations

http://www.zerohedge.com/news/2013-05-21/diablo-3-case-virtual-hyperinflation

[Swordsoffreedom]

It is not a one day but rather it is a measure of the time it will take to do so.

[dwdoc]

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

Tuesday.

[hunnaryb]

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

Tuesday.

 

June

[poewerden]

Im sure it will be Evening when bitcoin reach $1000

[boioioing]

Yes it will, as the dollar in 100 years inflated 2259.6% 
It is a question of time.

[tymothy]

The value of bitcoin is going to depend on demand and usage. If the size and usage of bitcoins approached the value of major currencies, the value of a single bitcoin would have to be astronomical given the constrained supply.

There's currently $1.2 trillion USD in circulation as cash money, $2.5 trillion when you count checking accounts, $10.5 trillion when you add in money market funds, savings accounts and CDs. If the usage of Bitcoins approached the size and value of the dollar economy, for the 20 million bitcoins to replace the dollar in current usage, the value of a single bitcoin would have to be over $500,000, and over $1,000,000 USD if it became the single global currency. Obviously that's rather ambitious. But if bitcoins are ever to become semi-mainstream, the sheer demands of even a million new users trying to conduct transactions in bitcoins would easily drive the price to $10,000+.

[steveds]

will not go this high sprry op

[trumbadera]

Yes it will, as the dollar in 100 years inflated 2259.6% 
It is a question of time.

+1
Your right