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Author Topic: will the bitcoin reach $1000 one day...?  (Read 112578 times)
Tarom
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December 17, 2013, 12:34:55 AM
 #1741

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Rather than speculating on how high bitcoins will skyrocket, how long will it take for them to become as stable as, say, USD?
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Bitcoin will never become stable because its not tied to any material, accountable value beyond supply-demand and it doesn't have a central bank to support it and make swings less volatile... A god example would be a garden without a gardener, no matter how good it is underneath, someone has do to the necessary house keeping to keep it in shape.
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December 17, 2013, 01:21:40 AM
 #1742

Pretty cool to see this post is only from June.  I love how the pattern repeats with someone throwing on another zero, and everyone nay-saying.
$10?  Nahhh
then
$100?  No way
then
$1000?  Never...

And now everyone is wondering about $10,000

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December 17, 2013, 01:33:03 AM
 #1743

Pretty cool to see this post is only from June.  I love how the pattern repeats with someone throwing on another zero, and everyone nay-saying.
$10?  Nahhh
then
$100?  No way
then
$1000?  Never...

And now everyone is wondering about $10,000

So true, people are not used to such high rise in value with stabilized stocks, thats why it looks so hard to come
But Bitcoin is still in early stage
komrobert
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December 17, 2013, 01:38:29 AM
 #1744

It already did, and I think we are not far away from 3k$, I think we might test that in q1 of 2014;)
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December 17, 2013, 02:46:36 AM
 #1745

Well it may be possible if bitcoins survive for that much time since the feds seem to hate it
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December 17, 2013, 05:32:05 AM
 #1746

It already did, and I think we are not far away from 3k$, I think we might test that in q1 of 2014;)
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December 17, 2013, 06:04:26 AM
 #1747

Pretty cool to see this post is only from June.  I love how the pattern repeats with someone throwing on another zero, and everyone nay-saying.
$10?  Nahhh
then
$100?  No way
then
$1000?  Never...

And now everyone is wondering about $10,000
I'm still asking myself about $1000.

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
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DannyHamilton
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December 18, 2013, 09:34:22 PM
 #1748

you guys are crazy lol

This crypto currency . . .

TLDR

Work on using punctuation, and capitalization, and something resembling typical grammar usage.  Then your wild ramblings might make a bit more sense.
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December 18, 2013, 09:36:28 PM
 #1749

$100,000 is a bit far fetch I think. Is it China to blame for the drop in Bitcoin currency?

How about $100 per mBTC.  Is that a bit far fetched?

If people move to using mBTC in pricing and exchanges, it seems like the move from $1 per mBTC to $100 per mBTC is just as possible and likely as the move from $1 per BTC to $100 per BTC.
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December 18, 2013, 09:40:47 PM
 #1750

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Bitcoin will never become stable because its not tied to any material, accountable value beyond supply-demand and it doesn't have a central bank to support it and make swings less volatile... A god example would be a garden without a gardener, no matter how good it is underneath, someone has do to the necessary house keeping to keep it in shape.

Sort of like gold.

Gold is not tied to any material, accountable value beyond supply-demand, and it doesn't have a central bank to support it and make swings less volatile.  As such, the gold price will never stabilize either.  It has the same huge swings whereby the value increases six-fold in a single month, and is then cut in half the following month all the time, right?
yntro
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December 18, 2013, 09:40:58 PM
 #1751

Maybe........

It was 1000$ now it drop like 50%...

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PRIMEDICE
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lindeanin
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December 18, 2013, 09:47:39 PM
 #1752

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Bitcoin will never become stable because its not tied to any material, accountable value beyond supply-demand and it doesn't have a central bank to support it and make swings less volatile... A god example would be a garden without a gardener, no matter how good it is underneath, someone has do to the necessary house keeping to keep it in shape.

Sort of like gold.

Gold is not tied to any material, accountable value beyond supply-demand, and it doesn't have a central bank to support it and make swings less volatile.  As such, the gold price will never stabilize either.  It has the same huge swings whereby the value increases six-fold in a single month, and is then cut in half the following month all the time, right?

No, gold does not have such huge monthly swings. Much more volume (in USD terms) is trading with gold
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December 18, 2013, 09:51:53 PM
 #1753

The question needs updating to: "Will bitcoin reach $1 million one day?" Max Keiser thinks it will.

A sack of potatos will, eventually..   at least until they issue the "new" dollar at a 1m:1 conversion.

If you're talking about American Dollars, they have actually got a law that says they will never devalue their currency

Not that that'll really stop 'em.  All it means is that they need a *NEW* unit of currency (maybe they'll call it the 'Franklin') that trades at  one Franklin per 100 Dollars.



America devalues the dollar every day, simply by printing more into existance... $85 billion worth a month, to be exact
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December 18, 2013, 09:58:48 PM
 #1754

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Bitcoin will never become stable because its not tied to any material, accountable value beyond supply-demand and it doesn't have a central bank to support it and make swings less volatile... A god example would be a garden without a gardener, no matter how good it is underneath, someone has do to the necessary house keeping to keep it in shape.

Sort of like gold.

Gold is not tied to any material, accountable value beyond supply-demand, and it doesn't have a central bank to support it and make swings less volatile.  As such, the gold price will never stabilize either.  It has the same huge swings whereby the value increases six-fold in a single month, and is then cut in half the following month all the time, right?

No, gold does not have such huge monthly swings. Much more volume (in USD terms) is trading with gold

That was the point I was making.  The original quote seemed to indicate that without a central bank that can add and remove currency from the market to force the exchange rate into stabilization, stabilization wouldn't be possible.  I offered gold as an example that a central bank is not necessary for stabilization of exchange rate.
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December 18, 2013, 10:01:56 PM
 #1755

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Bitcoin will never become stable because its not tied to any material, accountable value beyond supply-demand and it doesn't have a central bank to support it and make swings less volatile... A god example would be a garden without a gardener, no matter how good it is underneath, someone has do to the necessary house keeping to keep it in shape.

Sort of like gold.

Gold is not tied to any material, accountable value beyond supply-demand, and it doesn't have a central bank to support it and make swings less volatile.  As such, the gold price will never stabilize either.  It has the same huge swings whereby the value increases six-fold in a single month, and is then cut in half the following month all the time, right?

No, gold does not have such huge monthly swings. Much more volume (in USD terms) is trading with gold

That was the point I was making.  The original quote seemed to indicate that without a central bank that can add and remove currency from the market to force the exchange rate into stabilization, stabilization wouldn't be possible.  I offered gold as an example that a central bank is not necessary for stabilization of exchange rate.

I getting it now, sorry  Smiley
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December 19, 2013, 06:03:02 AM
 #1756

Bitcoin will never become stable because its not tied to any material, accountable value beyond supply-demand and it doesn't have a central bank to support it and make swings less volatile... A god example would be a garden without a gardener, no matter how good it is underneath, someone has do to the necessary house keeping to keep it in shape.

Dude, I think you may be on the wrong forum  Huh
greenlion
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December 19, 2013, 06:05:00 AM
 #1757

Bitcoin will never become stable because its not tied to any material, accountable value beyond supply-demand and it doesn't have a central bank to support it and make swings less volatile... A god example would be a garden without a gardener, no matter how good it is underneath, someone has do to the necessary house keeping to keep it in shape.

The entire premise of Bitcoin and p2p decentralized cryptocurrency in the first place is no one has to do the "necessary house keeping". The analogy of a garden without a gardener is patronizing and completely asinine.

The world didn't have any "necessary house keeping" until the early 20th century anyway, and central banking was basically hoisted on countries as the panacea for bank runs. Instead of regulating or outlawing overleveraging, they created the moral hazard of a "lender of last resort", but in the long run we know that the "lender of last resort" function to central banking was just the used car salesman pitch, because the real function was monetary policy / debt manipulation all along.

Central banking is the entity that creates the price volatility in everything in the first place by constantly micro-managing money supply and thus indirectly tweaking interest rates. The price volatility is not inherent to Bitcoin quo Bitcoin, it's a side effect of the fact that the supply schedule of fiat is constantly increasing, and that means more and more fiat needs to find some place to produce a return to counteract inflation.
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December 19, 2013, 10:23:50 AM
 #1758

Maybe........

It was 1000$ now it drop like 50%...
but now on positive trend and getting some momentum lets hope this trend will go ahead and have more recovery from this few past days lost

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December 20, 2013, 12:32:18 AM
 #1759

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Bitcoin will never become stable because its not tied to any material, accountable value beyond supply-demand and it doesn't have a central bank to support it and make swings less volatile... A god example would be a garden without a gardener, no matter how good it is underneath, someone has do to the necessary house keeping to keep it in shape.

Sort of like gold.

Gold is not tied to any material, accountable value beyond supply-demand, and it doesn't have a central bank to support it and make swings less volatile.  As such, the gold price will never stabilize either.  It has the same huge swings whereby the value increases six-fold in a single month, and is then cut in half the following month all the time, right?

No, gold does not have such huge monthly swings. Much more volume (in USD terms) is trading with gold

That was the point I was making.  The original quote seemed to indicate that without a central bank that can add and remove currency from the market to force the exchange rate into stabilization, stabilization wouldn't be possible.  I offered gold as an example that a central bank is not necessary for stabilization of exchange rate.

Gold is not comparable to BTC.
True, gold has no bank behind it.
Gold does however have value outside of supply/demand.
Gold can be used to craft items, btc cannot.
The driving force behind golds value is its rarity as a precious metal.
The driving force behind btc value is demand for btc.
hope4me
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December 20, 2013, 12:42:14 AM
 #1760

Gold is not comparable to BTC.
True, gold has no bank behind it.
Gold does however have value outside of supply/demand.
Gold can be used to craft items, btc cannot.
The driving force behind golds value is its rarity as a precious metal.
The driving force behind btc value is demand for btc.

Bitcoin have value outside of supply/demand, you can exchange Bitcoin for goods or services.
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