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

[Kyle91]

It will reach $1000 but not before next halving in 3 years.

no, possibly 10 years. Not many people know about Bitcoin yet.

[ketten]

很有可能

[marcovaldo]

It will reach $1000 but not before next halving in 3 years.

no, possibly 10 years. Not many people know about Bitcoin yet.

You just put random numbers, 3 years, 10 years, but what is your logic?

[Kyle91]

It will reach $1000 but not before next halving in 3 years.

no, possibly 10 years. Not many people know about Bitcoin yet.

You just put random numbers, 3 years, 10 years, but what is your logic?

10 years or whatever the hell, what i am saying is that it will be a very long time for this to happen.

[marcovaldo]

10 years or whatever the hell, what i am saying is that it will be a very long time for this to happen.

It needed 3 months to go from 10$ to 250$, so why would it take much more to go from 100$ to 1000$?

[Lauda]

10 years? You're insane.
Look at facebook, what happened to it since '04.
10 years is a long time. The price of BTC will be much higher than 1000$ or some alt will suceed by then.

[Bitobsessed]

Wouldn't surprise me if Bitcoin touched $1,000 in the next 365 days.

Yes.

[Kyle91]

10 years? You're insane.
Look at facebook, what happened to it since '04.
10 years is a long time. The price of BTC will be much higher than 1000$ or some alt will suceed by then.

It just seems like it would be a long time.I just can't see bit coin becoming 1000 in like only a year.

[marcovaldo]

Just wait and see

[Lauda]

Just wait and see

Waiting is boring.

[nobbynobbynoob]

10 years? You're insane.
Look at facebook, what happened to it since '04.
10 years is a long time. The price of BTC will be much higher than 1000$ or some alt will suceed by then.

It just seems like it would be a long time.I just can't see bit coin becoming 1000 in like only a year.

The thing is, nobody knows. The price is basically a function of bid sum divided by ask sum.

Bid sum = ~ 10 million USD; Ask sum = ~ 100.000 BTC -> Exchange rate = 100 USD/BTC

Ballpark figures. Historic trends show ask sum declining over the long term, but let's ignore that and increase ask volume to BTC120k. Thus it requires 110 million USD in additional bids to raise the price to 1000 USD/BTC or 1 mBTC/USD. That could be one million individuals purchasing an average of $110 worth of bitcoin each, without any additional adoption/use. Doesn't seem so insurmountable now, does it? But yes, I have no idea if/when this will take place. Nobody does.

[Harderfaster]

no, possibly 10 years. Not many people know about Bitcoin yet.

+1 my thought exactly..
It probably wont happen, and if ti will it will probably be somewhere in 5 years or more.

[torry28]

10 years? You're insane.
Look at facebook, what happened to it since '04.
10 years is a long time. The price of BTC will be much higher than 1000$ or some alt will suceed by then.

It just seems like it would be a long time.I just can't see bit coin becoming 1000 in like only a year.

The thing is, nobody knows. The price is basically a function of bid sum divided by ask sum.

Bid sum = ~ 10 million USD; Ask sum = ~ 100.000 BTC -> Exchange rate = 100 USD/BTC

Ballpark figures. Historic trends show ask sum declining over the long term, but let's ignore that and increase ask volume to BTC120k. Thus it requires 110 million USD in additional bids to raise the price to 1000 USD/BTC or 1 mBTC/USD. That could be one million individuals purchasing an average of $110 worth of bitcoin each, without any additional adoption/use. Doesn't seem so insurmountable now, does it? But yes, I have no idea if/when this will take place. Nobody does.

Finally some analyse ! 1 million individuals purchasing an average of $110 worth of bitcoin seems a lot but who knows fackbook uses 100 times more people (though it is free)

[geofflosophy]

10 years? You're insane.
Look at facebook, what happened to it since '04.
10 years is a long time. The price of BTC will be much higher than 1000$ or some alt will suceed by then.

It just seems like it would be a long time.I just can't see bit coin becoming 1000 in like only a year.

The thing is, nobody knows. The price is basically a function of bid sum divided by ask sum.

Bid sum = ~ 10 million USD; Ask sum = ~ 100.000 BTC -> Exchange rate = 100 USD/BTC

Ballpark figures. Historic trends show ask sum declining over the long term, but let's ignore that and increase ask volume to BTC120k. Thus it requires 110 million USD in additional bids to raise the price to 1000 USD/BTC or 1 mBTC/USD. That could be one million individuals purchasing an average of $110 worth of bitcoin each, without any additional adoption/use. Doesn't seem so insurmountable now, does it? But yes, I have no idea if/when this will take place. Nobody does.

Finally some analyse ! 1 million individuals purchasing an average of $110 worth of bitcoin seems a lot but who knows fackbook uses 100 times more people (though it is free)

If Apple started accepting BTC for all of its products and had 0.1% of their sales in BTC, that'd do it too assuming that all of those BTC were either bought by new users or replaced by current holders. Obviously those are both (0.1% of Apple sales and rebuy) big assumptions, but I think it gives a good indicator of the scale we're talking about with respect to the current BTC value and potential value if even one or two very large companies decides to start accepting BTC for orders.

You can bet your bottom dollar that Coinbase and Bitpay both have great biz dev people and major investors working tirelessly to make this happen; it's only a matter of time as far as I'm concerned, and much less time than many of you think.

[Singlebyte]

10 years? You're insane.
Look at facebook, what happened to it since '04.
10 years is a long time. The price of BTC will be much higher than 1000$ or some alt will suceed by then.

It just seems like it would be a long time.I just can't see bit coin becoming 1000 in like only a year.

Within a year is definitely likely.  It is not that much different from going from $20 to $266.  With all the news & press stories coming out, a lot of new people are taking notice.  Surely wall street investors are also keeping an eye.  $1000 is a real possibilty in the near future.

[worldbridger]

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

Agreed! They're both acting like Kamikaze at the moment! If the US needs a Greek style bailout, or worse a Cyprus style bailin, the bitcoin price will skyrocket!

[Rassah]

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

Agreed! They're both acting like Kamikaze at the moment! If the US needs a Greek style bailout, or worse a Cyprus style bailin, the bitcoin price will skyrocket!

US won't need a bailout, as it prints its own currency. It can just print more of it, and inflate the debt. Also, government spending deficit is decreasing considerably due to the fiscal cliff.

No, I think we'll have to rely on actual adoption and use for this one.

[BitEnthusiast]

I believe yes, here's why, "Bitcoin price of $100,000 by 2015 is not unrealistic. The value of total world currencies in circulation right now is around $60 trillion. If Bitcoin can win just 1% of that $60 trillion, then that would mean a Bitcoin price of $55,000" like Rick Falkvinge said the question is can this be reached in the next 2-3 years.

[Kyle91]

10 years? You're insane.
Look at facebook, what happened to it since '04.
10 years is a long time. The price of BTC will be much higher than 1000$ or some alt will suceed by then.

It just seems like it would be a long time.I just can't see bit coin becoming 1000 in like only a year.

Within a year is definitely likely.  It is not that much different from going from $20 to $266.  With all the news & press stories coming out, a lot of new people are taking notice.  Surely wall street investors are also keeping an eye.  $1000 is a real possibilty in the near future.

We just gotta wait and see what happens.

[maryjbitcoins]

i dont think so btc is the preliminary crypt currency of the day governments are already positioning themselves to have their own, Canada has already tested their own backed crypto currency.

The idea will live on, I think in 10 years btc will have eventually imploded.. spawning later advancements in security/ technological features to perfect crypto currencies from its current negatives