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

[Wekkel]

If $266 was possible, $1,000 will be a breeze.

[freedomno1]

The rebellion begins after people realize their mistakes
Revolt My Comrades 

[danzigod]

Yes considering today's economy its possible.
Will it happen?Time will tell.

[naphto]

one year ago i would have said that yes, BTC will go over $1000, but recently i feel that there are some serious developemtn going on in the crypto currency arena.

with LTC and a few other cryptos doing well, BTC might not have the traction we all thought it did in the beginning.

i certainly am spreading my investments across a very broad range of cryptos

I am not sure that any other altcoin have any potential to ever be closed to bitcoin now

[Cryptomaker]

No, that is all.

[fleabag]

yes it can go to $1000 slurp slurp. boy this Kool-aid is good!

[rdrgpaz]

bitcoin is dropping, I guess so

[hate_the_face]

are you guys insane? A thousand dollars?

How do you figure it ever even gets back to 266?

nobody wants a coin that is going to be going the way of Old Yeller as soon as the services it currently has a monopoly on no longer have a monopoly

It's not the coin that matters, it's the services behind it.

[Wekkel]

It's not the coin that matters, it's the services behind it.

BTC still has first mover advantage. For the foreseeable future, Bitcoin will not have less services behind and use for it than any other altcoin. Again, if $266 was possible, $1,000 is also possible. Only the prospect of riding a new bubble is enough for most 'investors'.

[pollard86]

Yes.

[hate_the_face]

It's not the coin that matters, it's the services behind it.

BTC still has first mover advantage. For the foreseeable future, Bitcoin will not have less services behind and use for it than any other altcoin. Again, if $266 was possible, $1,000 is also possible. Only the prospect of riding a new bubble is enough for most 'investors'.

so did Napster

how'd that work out?

[Hang Tim]

It'll happen as a bubble then drop down back to $100.

[cowanjeffrey93]

If this down trend continue I think BTC price will be $10 within few months. I don't think it will hit $1000.

[nobbynobbynoob]

If this down trend continue I think BTC price will be $10 within few months. I don't think it will hit $1000.

It's a bear market but it probably won't drop to $10 - that's a "fail" scenario. I don't think the miners would sell that cheap.

In the first big drop after the bubble peak we tested $50 pretty hard. I can't say that's definitively the "hard bottom", but it wouldn't be rational to go much lower. With difficulty skyrocketing, while difficulty doesn't directly affect price, the production (mining) cost per BTC will rise over time, and the spot price won't be below that for long, if ever.

During the 2011 bear market some miners sold at $3 because it was still profitable for them to do so.

[unitarray]

highly doubt it but it would be awesome if it did

[Welsh]

The only way it would reach that amount if people actually used it rather than just hoarding it. It's becoming more of a savings than a currency. Bitcoin was created to use as a currency. Yet people are just buying & holding. Will not budge. I respect the people who actually use it wherever they can. Obviously we are going to hold on to it, because it has the potential to become very valuable but not without us helping it. What would it be worth if everyone is just going to cash out? 0.

[bassjoe]

Maybe. There is an extremely limited supply so BTC is subject to deflation like no other currency (possibly in the history of humanity).

However, there are several things that can stop its rise:

• a concerted worldwide push by regulators to make it nearly impossible to transact in BTC for anything worthwhile or convert it into fiat currencies
• a better option. BTC is the first cryptographic virtual currency. Already others have been developed and released. More will follow
• merchants no longer wanting to use the currency due to chargeback risk

[Rassah]

It's not the coin that matters, it's the services behind it.

BTC still has first mover advantage. For the foreseeable future, Bitcoin will not have less services behind and use for it than any other altcoin. Again, if $266 was possible, $1,000 is also possible. Only the prospect of riding a new bubble is enough for most 'investors'.

so did Napster

how'd that work out?

Liberty Reserve was Napster, centralized and run by a single company. Bitcoin is bittorrent. How is that working out?

[coinprize]

It's definitely possible. Since bitcoins are limited resource, but the prerequisites is that bitcoin are being accepted by most of the merchants and circulate in everyone's daily expenses.

[hate_the_face]

Liberty Reserve was Napster, centralized and run by a single company. Bitcoin is bittorrent. How is that working out?

bitcoin may as well be considered one company