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

[tonino]

why $1000 and why not 1 million?

1 million is not possible, come on

I agree with You but I had some smart people telling me that they are convinced that one day it will be 1 million.

[marcovaldo]

I agree with You but I had some smart people telling me that they are convinced that one day it will be 1 million.

Not possible....
Who will put 1 million to buy 1 btc?



The cap is much lower

[reannypleas]

Not possible....
Who will put 1 million to buy 1 btc?

Nobody today, but nobody would buy 1 btc for 100 USD 3 years ago 

[NickNick]

I agree with You but I had some smart people telling me that they are convinced that one day it will be 1 million.

Not possible....
Who will put 1 million to buy 1 btc?



The cap is much lower

1 BTC would just be irrelevant. Only counting in micro or milli-BTCs. That's all!

[gmg]

I agree with You but I had some smart people telling me that they are convinced that one day it will be 1 million.

Not possible....
Who will put 1 million to buy 1 btc?



The cap is much lower

1 BTC would just be irrelevant. Only counting in micro or milli-BTCs. That's all!

There will only be 21 million BTC ever. So, if only 21 million people (less than 10% of the population of any among the US, EU, Russia or 1.5% of the population of China!) decide to use bitcoin as a currency, the average wealth of any of them will be just 1 BTC. If just 0.5% of the world population is using bitcoin, then the average wallet will contain slightly above 0.5 BTC! And this, even after every BTC has been mined...

So:
a) Yes, it is absolutely certain that BTC will someday become irrelevant if the currency becomes established. People will be talking of mBTC, μBTC, or even satoshis.
b) In such scenario, the USD equivalent of a whole BTC will be worth A LOT. Whether this will be many thousands or millions is just a matter of: 1) how many people will be looking to exchange their fiat to BTC and 2) how fast this will happen.

[Anon135246]

I doubt we will break $150 in the short term unless some really positive news comes out .

Currently the order books of the major exchanges has lots more volume of sellers at the $140 ish level while the buyer volumes look weak in comparison .

Personally I feel the sellers are dominant approaching $140-$150 area for now .

Personally I would use the $120 ish area for buying, dollar cost averaging to as close the that figure as possible.

And try to sell over $140 .

On Mtgox we have in recent weeks tested resistance at $148 ish but have seen a sharp rejection .

I personally would not short bitcoin since there are few news events that can take the value to zero .

Yet there are thousands of news events that could raise the value of bitcoin .

 

Don't rely on Mtgox for a good price indication.

[tagbond]

yes, if companies and individuals use it as a currency for day to day use, not just for commodity trading..

[overunity]

I doubt we will break $150 in the short term unless some really positive news comes out .

Currently the order books of the major exchanges has lots more volume of sellers at the $140 ish level while the buyer volumes look weak in comparison .

Personally I feel the sellers are dominant approaching $140-$150 area for now .

Personally I would use the $120 ish area for buying, dollar cost averaging to as close the that figure as possible.

And try to sell over $140 .

On Mtgox we have in recent weeks tested resistance at $148 ish but have seen a sharp rejection .

I personally would not short bitcoin since there are few news events that can take the value to zero .

Yet there are thousands of news events that could raise the value of bitcoin .

 

Don't rely on Mtgox for a good price indication.

It has the highest volume by far so it cannot be ignored .
But Bitstamp has the same issues with seller volumes vastly outweighing buyers but the $150 level is reflected as $130 on bitstamp but if you take the price indication away the graph looks the same with less volatility .
Without volatility it is difficult to turn a profit in a sideways market .

Not much chance to make money trading on bitstamp alone .
The best way currently is arbitrage which for now is very lucrative if you can tie your money up and wait for withdrawals from mtgox to repeat the arbitrage again .
I expect that once mtgox start releasing funds more efficiently then the potential of arbitrage will also evaporate.
Buy $125 bitstamp  and sell $135 gox but you can only do it about once a fortnight but it simple to execute . 

[overunity]

I agree with You but I had some smart people telling me that they are convinced that one day it will be 1 million.

Not possible....
Who will put 1 million to buy 1 btc?



The cap is much lower

Approaching that point you will be dealing more in satoshi's .
A full BTC will be rarely used, but if you own one now you will be a happy person then lol.

[BitChick]

I agree with You but I had some smart people telling me that they are convinced that one day it will be 1 million.

Not possible....
Who will put 1 million to buy 1 btc?



The cap is much lower

Approaching that point you will be dealing more in satoshi's .
A full BTC will be rarely used, but if you own one now you will be a happy person then lol.

Yes!

I was hoping we would see $1000 before the end of the year.  But there has been a bunch of setbacks these past few months unfortunately.  It could happen really fast though! 

[Rassah]

Heard at Atlanta conference this past weekend:

5 years from now...
"Hey, how much for BMW"

"2 bitcoins"

"Wow, that's a lot!"

"Well, it is an expensive company"

[SgtSpike]

Heard at Atlanta conference this past weekend:

5 years from now...
"Hey, how much for BMW"

"2 bitcoins"

"Wow, that's a lot!"

"Well, it is an expensive company"

Says the one who bought a $300,000 Prius.   

[Rassah]

Heard at Atlanta conference this past weekend:

5 years from now...
"Hey, how much for BMW"

"2 bitcoins"

"Wow, that's a lot!"

"Well, it is an expensive company"

Says the one who bought a $300,000 Prius.   

$124,000 Prius, actually. I spent very close to 1,000 bitcoins, so it's fairly easy to track. Btw, after recent travels and renting out some other cars (like Chevy Sonic), the Prius really feels like a luxury car :9

[DannyHamilton]

Says the one who bought a $300,000 Prius.   

$124,000 Prius, actually. I spent very close to 1,000 bitcoins, so it's fairly easy to track. Btw, after recent travels and renting out some other cars (like Chevy Sonic), the Prius really feels like a luxury car :9

Prius?  Best car I've ever owned.  150,000 miles and haven't had a problem with it yet.

Of course I bought mine before bitcoin existed, so I couldn't have spent bitcoin on it.

[mininganon]

yes bitcoin is the future of money

[fattypig]

Yes but the government will do their part to stop bitcoin at all cost, they don't want the world to use Bitcoin and government cant print bitcoin

[BitChick]

Yes but the government will do their part to stop bitcoin at all cost, they don't want the world to use Bitcoin and government cant print bitcoin

Ahhh, but if they could just get DPR's stash on top of the small amount they already collected from the Silk Road closure . . . 

[hairball]

Should be much higher than $1,000 someday. But maybe other crypto currencies will soak up enough demand that it doesn't go to the stratosphere.

[Erdogan]

Depends on the number of users. Looking good.

[hunnaryb]

Should be much higher than $1,000 someday.

+1
The only question is what you will be able to buy for $1,000 when it happens. Maybe just one hour parking ticket