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

[raspcoin]

Doubtful. Newer alts and more feature rich alts will begin chipping away at it.

Not really. Litecoin, currently the most credible alt, has lost value compared to bitcoin. Bitcoin has the highest growth among the seven largest cryptocurrencies by market cap.

[Agamemnon]

Unless Bitcoin is destroyed by a 51% attack, it is bound to thrive within an unstable economy.

It is similar to gold, but imo bitcoins are better than gold. Think as an investor. Bitcoins do not inflate. They cannot be stolen if stored properly (offline). They are easy and safe to move. Almost impossible to counterfeit as far as I know.
If you have some knowledge about how currencies work, you should be a fan of BTC. It is not the future, but it is way better than the USD. And as long as financial instability remains, BTC will thrive. Bubbles will come and go, just like the one nowadays, but I'm pretty sure it is going to reach $1000 in a year.

And once big financial institutions endorse BTC, the price may soar to $100k or who knows how high. It is theoretically possible to introduce bank accounts, credit/debit cards in BTC.

Or in case the USD crashes, where do you think all the money is gonna flow? When half the world economy will disappear in a day? BTC has a bright future for the years to come.

[BADecker]

Of course Bitcoin will reach $1000 one day. But it won't be a full day. Then it will be headed to $2000 and beyond.

The banks will start implementing regulations that will make it difficult for Bitcoin to be cashed in. Then Bitcoin will drop back down.

[MaxBTC1]

Yes defiantly 100%   

You seem pretty defiant with this prediction.

Def ini tely

Definitely

[kitcar765]

Unless Bitcoin is destroyed by a 51% attack, it is bound to thrive within an unstable economy.

It is similar to gold, but imo bitcoins are better than gold. Think as an investor. Bitcoins do not inflate. They cannot be stolen if stored properly (offline). They are easy and safe to move. Almost impossible to counterfeit as far as I know.
If you have some knowledge about how currencies work, you should be a fan of BTC. It is not the future, but it is way better than the USD. And as long as financial instability remains, BTC will thrive. Bubbles will come and go, just like the one nowadays, but I'm pretty sure it is going to reach $1000 in a year.

And once big financial institutions endorse BTC, the price may soar to $100k or who knows how high. It is theoretically possible to introduce bank accounts, credit/debit cards in BTC.

Or in case the USD crashes, where do you think all the money is gonna flow? When half the world economy will disappear in a day? BTC has a bright future for the years to come.

nail on the head there!

ECB dropping interest rates to 0.25% has definitely helped bitcoin. When USD pops and the UK housing market crashes, and canadas housing markets tanks. more people will learn about fiat currency and what the banks have done.

In such an environment bitcoin is the biggest invention since the internet. it is a game changer.

[600watt]

one day ... ? yeah.

on november 25th 2013. mark my words.
 

[likl3sfuhjh]

possible

msiqts

[EmoHamster]

Well over 1k by the end of the year at this rate. Especially as people learn that cashing out in US dollars is foolish.

[spa4rtacus]

By tea time today.

[AnatomicFlack]

Is there any real good reason for this insane march the price is on the last few days? 

Certainly seems like the 1K mark is feasible and likely a whole lot sooner than anyone is expecting. 

I'm only wishing I had more BTC right now to have any of this insane climb impact me!!!

The only real bonus here for relative newbies, such as myself, is if this continues I might actually get a return on my investment of the hardware!

That and you have to wonder how upset the people who sold around the end of October are feeling right now when they were getting just over $200/BTC.

[MikaelAngelo]

at this rate in a few days

[Peter Lambert]

Within a year or two, I think. With the caveat it might also drop to zero.

I agree, if bitcoin doesn't fail and drop to $0, it will absolutely reach $1000, and almost certainly reach $10,000.

$10,000?!?!   Really?? That would take a very long time....

Why would it have to take a long time? Who would have thought going from 1 to 100 would only take a couple years? Why would going from 100 to 10000 take longer? The network effect starts to kick in and the adoption accelerates, so the rate of price increase goes up. Bitcoin could hit 10000 tomorrow, all it would take would be for people to pull the asks below that and raise the bids.

[soothaa]

I'm thinking it will hit $1,000 before the end of the week.

CNN had a piece where they targeted the final price at $85,000 something.

Think about it. Bitcoin is finite. No other currency is!

[wachtwoord]

Why only 85k?

[HoboTheClown]

what i find odd is that bitcoin is still based off US $ value.  So this would make you think that if the hearing going on right now, fails bitcoin, then this could cause the value in bitcoin to avalanche to a very very low value.  Yes, the world is adopting it as a world currency but if it's based on the US $ Value wouldn't it cause the value of bitcoin to not rise much anymore.  I mean, people wouldn't allow the conversion of bitcoins and might be frowned upon?  Just curious why the valuation of bitcoin doesn't get changed to another countries currency were that country has adopted/accepted bitcoins.  Is it because the current .. what's that word...  where the currency valuation is adjusted based on the USD? 

[Peter Lambert]

what i find odd is that bitcoin is still based off US $ value.  So this would make you think that if the hearing going on right now, fails bitcoin, then this could cause the value in bitcoin to avalanche to a very very low value.  Yes, the world is adopting it as a world currency but if it's based on the US $ Value wouldn't it cause the value of bitcoin to not rise much anymore.  I mean, people wouldn't allow the conversion of bitcoins and might be frowned upon?  Just curious why the valuation of bitcoin doesn't get changed to another countries currency were that country has adopted/accepted bitcoins.  Is it because the current .. what's that word...  where the currency valuation is adjusted based on the USD? 

This makes no sense. Bitcoins are not based on USD. The price is reported in USD because that is the unit we in the US are used to. If you live in the UK then you would report the price of bitcoins in GBP. It is just a conversion to whatever local currency you want to compare it to.

[wachtwoord]

what i find odd is that bitcoin is still based off US $ value.  So this would make you think that if the hearing going on right now, fails bitcoin, then this could cause the value in bitcoin to avalanche to a very very low value.  Yes, the world is adopting it as a world currency but if it's based on the US $ Value wouldn't it cause the value of bitcoin to not rise much anymore.  I mean, people wouldn't allow the conversion of bitcoins and might be frowned upon?  Just curious why the valuation of bitcoin doesn't get changed to another countries currency were that country has adopted/accepted bitcoins.  Is it because the current .. what's that word...  where the currency valuation is adjusted based on the USD? 

This makes no sense. Bitcoins are not based on USD. The price is reported in USD because that is the unit we in the US are used to. If you live in the UK then you would report the price of bitcoins in GBP. It is just a conversion to whatever local currency you want to compare it to.

Or in ounces of gold, check the gold thread.

Value only exists relative to other things. Most people like to compare against the US Dollar. If you like to price it in fresh fish or logs of lumber: go ahead

[Agamemnon]

Bitcoin price is most commonly expressed in USD because it is the most convenient.

USD is accessible, relatively easy to transfer. So it is a convenient medium of exchange.

If you were to buy BTC for gold, things would get more complicated. For instance, most people do not own gold. Second, gold is not an e-currency, so it cannot be exchanged digitally.

Although BTC/gold would better express the value of BTC, beware, because gold and bitcoin show very similar characteristics.
So it would not show you the price anomalies.

The trick may be to compare the buying power of the dollar to the price of one BTC expressed in dollar. This way one BTC's worth is expressed in "physical goods".

[Oldgamer]

i am surprised that this topic is still exist... and people still argue

[monbux]

If bitcoins countinue to rise the current speed. I predict it'll be well over $1000/USD this week.
I think BTCchina is almost at $1000 right now.