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

[masyveonk]

Hitting that price is 100% dependant on Bitcoin being adopted by the mainstream and fully integrated into day-to-day life. Otherwise I don't see it happening. That is a tremendously high market cap, especially as the supply of bitcoin grows

That's 100% arbitrary, price is determined as the equilibrium of quantity demanded at a price versus quantity supplied at a price.

When people talk about "market cap" for Bitcoin it's really a metaphor, it's not a real thing. Market capitalization applies to stocks and other instruments where there are "shares". There is no such thing strictly as a "market cap" for a currency.

True, it means for the Bitcoin price to rise from $500 to $1000 (just example), no need for 2x more new money to enter Bitcoin economy .

[exstasie]

Hitting that price is 100% dependant on Bitcoin being adopted by the mainstream and fully integrated into day-to-day life. Otherwise I don't see it happening. That is a tremendously high market cap, especially as the supply of bitcoin grows

That's 100% arbitrary, price is determined as the equilibrium of quantity demanded at a price versus quantity supplied at a price.

When people talk about "market cap" for Bitcoin it's really a metaphor, it's not a real thing. Market capitalization applies to stocks and other instruments where there are "shares". There is no such thing strictly as a "market cap" for a currency.

True, it means for the Bitcoin price to rise from $500 to $1000 (just example), no need for 2x more new money to enter Bitcoin economy .

Well do we know how much money is currently on the BTC economy??
With all of the publicity of BTCs in mainstream media, it'll create new companies that will convert fiat currency to digital currency and increase the amount of money in the BTC economy.

[BubaBuka]

I think it will hit $1000 as long as the current trend continues, and if the profit taking dips don't create any major lows along the way 

[Lauda]

Next milestone is $500, then we will see.

[JekyllIsland]

I think $1000 is inevitable. The real question is will bitcoin reach $10,000 one day?

IMHO most likely, which is meaningless btw 

[Lauda]

I think $1000 is inevitable. The real question is will bitcoin reach $10,000 one day?

IMHO most likely, which is meaningless btw 

It will go beyond that.

[marcetin]

It will be $1k before end of year and by end of next year it will get one or two zeros more, so $10k for sure by the end of next year

[donbu7]

It will be $1k before end of year and by end of next year it will get one or two zeros more, so $10k for sure by the end of next year

jajajaja, that is ridiculous, what are you smoking???

[Lauda]

It will be $1k before end of year and by end of next year it will get one or two zeros more, so $10k for sure by the end of next year

jajajaja, that is ridiculous, what are you smoking???

No it's not ridiculous. We've already seen a 1000x/yr growth 4 times now and it doesn't seem to be stopping.

[reactive4ce]

It will be $1k before end of year and by end of next year it will get one or two zeros more, so $10k for sure by the end of next year

jajajaja, that is ridiculous, what are you smoking???

No it's not ridiculous. We've already seen a 1000x/yr growth 4 times now and it doesn't seem to be stopping.

Yes but it is difference going from 0.01 to 1 and from 100 to 10.000

So the growth has to slow down the more the price is

[DannyHamilton]

seen a 1000x/yr growth 4 times now

November 14 2010, high value $0.30
November 14 2011, high value $3.00

That's only 9x/yr growth, not 1000x/yr, right?
It's 900%, but 100% is only 1x, correct?


November 14 2011, high value $3.00
November 14 2012, high value $11.05

That's only 3.68x/yr growth, not 1000x/yr.
It's only 268.33%


November 14 2012, high value $11.05
November 14 2013, high value so far today $447.50

That's only 40.5x/yr growth, not 1000x/yr.
It's 3949.77%.

[DannyHamilton]

So the growth has to slow down the more the price is

Why?  Increase in exchange rate is a function of demand which is driven by popularity, familiarity, and usability.

Are you suggesting that as the exchange rate increases, less people will know about bitcoin, less people will want bitcoin, and there will be less uses for bitcoin?

[sarcasticviper]

Im not sure if it will but given time of course it probably would reach 1000 or very close but all of this is speculation and with current prices and the rate its increasing almost daily it probably could hit 1000 next year. Then again there are events that could affect the outcome of it and it could crash hard like it did before. Its still interesting to look at and observe the changes every day while im just enjoying reading about it and earning a few free bitcoins here and there and going along for the ride wherever it takes us. Glory and fame or bitter loss I will have fun.

[reactive4ce]

So the growth has to slow down the more the price is

Why?  Increase in exchange rate is a function of demand which is driven by popularity, familiarity, and usability.

Are you suggesting that as the exchange rate increases, less people will know about bitcoin, less people will want bitcoin, and there will be less uses for bitcoin?

You misunderstood me because of my bad english. I meant
So the yearly price percentage increase has to slow down the more the price is

[pabloangello]

I only see that "it doesnt happen-limit" changes in people minds every year and is up to the new limit

[DannyHamilton]

the yearly price percentage increase has to slow down the more the price is

Why?

I don't understand your reasoning.  Why does a higher current price slow down the yearly price percentage increase?  Shouldn't it be the opposite?  Shouldn't a higher price cause a faster price percentage increase?

[Lodorenos]

I definitely believe it will. Especially with the recent media attention surrounding crypto currencies as a whole.

[reactive4ce]

the yearly price percentage increase has to slow down the more the price is

Why?

I don't understand your reasoning.  Why does a higher current price slow down the yearly price percentage increase?  Shouldn't it be the opposite?  Shouldn't a higher price cause a faster price percentage increase?

Because of higher market cap when the price is higher, thus more USD must go to Bitcoin

I just say much more USD must be go to Bitcoin in time period
when price increasese from 100 to 10.000
than in time period
when price increasese from 1 to 100


100 to 10.000 is harder, thus it should take longer with the same amount of USD going to Bitcoin than from 1 to 100

[exstasie]

It will be $1k before end of year and by end of next year it will get one or two zeros more, so $10k for sure by the end of next year

I like the way you think!  One can dream right?  I guess there is no limitations right now on the potential growth. I guess it has to stop sometime. But who knows!

[manoamano]

It will be $1k before end of year and by end of next year it will get one or two zeros more, so $10k for sure by the end of next year

Are you ready to take a bet?