Everyone will cash out at $1000

[nobbynobbynoob]

Well, I can't say I wouldn't sell at 1,000 USD. I mean 100 Bitcoin don't sound like much now. maybe 10,000 USD right now. But 100,000 USD is a nice amount. I think people will panic sell in hopes of not missing out a nice pay day. But I think we have quite a way to go until we can see those types of numbers.

No more than 2 years.

Would be my educated guess, too. Bitcoin has grown about four orders of magnitude in the past three years or so, which of course isn't to say it will continue the exact same growth trend. But within the next few years I foresee the exchange rate per BTC as being likely upward of $10k at least, even in 2008-adjusted dollars, or zero, but not much in between. We shall see.

The transactions-per-block scalability problem is still a biggie. The very smart devs must have spent a whole lot of time figuring out the best method of dealing with it though. Have faith in them; watch a Mike Hearn video or three to feel good about the prospects of the Bitcoin project!

[Odalv]

Well, I can't say I wouldn't sell at 1,000 USD. I mean 100 Bitcoin don't sound like much now. maybe 10,000 USD right now. But 100,000 USD is a nice amount. I think people will panic sell in hopes of not missing out a nice pay day. But I think we have quite a way to go until we can see those types of numbers.

No more than 2 years.

That would be awesome 1 Bitcoin will be able to buy you a nice average car, can't wait for those days.

I'm not sure you can buy nice average car for $1000

[Magazine]

Well, I can't say I wouldn't sell at 1,000 USD. I mean 100 Bitcoin don't sound like much now. maybe 10,000 USD right now. But 100,000 USD is a nice amount. I think people will panic sell in hopes of not missing out a nice pay day. But I think we have quite a way to go until we can see those types of numbers.

No more than 2 years.

That would be awesome 1 Bitcoin will be able to buy you a nice average car, can't wait for those days.

I'm not sure you can buy nice average car for $1000

Oops, my mistake. I was thinking about if Bitcoin reached 10,000 USD. Hey, I guess you can buy a car for 1,000 USD. 

[Tzupy]

People should stop dreaming about 10,000 $ / BTC anytime soon. 1,000 $ is possible in 2014 during a bubble spike,
but after that the spikes will grow slower, something like 2,000 in 2015, 3,000 in 2016, and 4,000 in 2017.

And if you buy a car for 1,000 $, that's probably going to be a death trap, so don't.

[adamstgBit]

People should stop dreaming about 10,000 $ / BTC anytime soon. 1,000 $ is possible in 2014 during a bubble spike,
but after that the spikes will grow slower, something like 2,000 in 2015, 3,000 in 2016, and 4,000 in 2017.

why would the spikes grow slower?
growth should be exponential, no?

which would mean the bubble will get closer and closer together,  pretty soon a bubble pop will be immediately followed by another bubble!
  

[Magazine]

I guess that's what the fun of Bitcoin is, you never truly know what price they will be at.

[Tzupy]

why would the spikes grow slower?
growth should be exponential, no?

which would mean the bubble will get closer and closer together,  pretty soon a bubble pop will be immediately followed by another bubble!
  

They will grow slower because of limited resources, in our case speculators' money. IMO there won't be enough money to get above 4,000 $ in 2017.

[David M]

And if you buy a car for 1,000 $, that's probably going to be a death trap, so don't.

I paid $1000 for a 1992 Mitsubishi Magna with 300,000 Km on the clock 2 years ago.

The ECU shorted out after a further 5000 Km but got a second hand one for $150.
I have driven another 20,000Km without issue.

Cars... Absolute money pits.  Stay cheap folks....

On topic:

My kids have a target of $1000 per BTC and they want to sell half their stash at the price.

[romerun]

They don't need to cash out, but instead use coins to purchase whatever. At $1000 means shit tons of merchants.

[Magazine]

They don't need to cash out, but instead use coins to purchase whatever. At $1000 means shit tons of merchants.

1000$ is only 10 times more than now.
And there is nowhere in my city where you can spend bitcoins.
So let's assume that at 1000$ there will be 10 businesses that accept bitcoins in my city...

I'd not call that "shit tons".

I have to agree here, as much as I like Bitcoin. I would still prefer to have my Bitcoin changed into cash. It's easier for day to day use.

[romerun]

If you live down by the cave, yes. But big cities like nyc, sf, portland, multiply the current number merchants by 10, living by btc should be quite convenient. I don't see walmart and mcdonald take btc at 1000 though, but at 10 grands, they might.

[drawingthesun]

When I can top up  a pre-paid VISA/Mastercard with Bitcoin very quickly and easily Bitcoins will become more valuable.

The process would be go online and one time buy for $10 a pre-paid card, then go to account online to convert BTC into the card balance needed. This would mean no need to go exchanges and whenever I need real world money I can create it from my Bitcoins. (No service like this exists in Australia)

If such a service exists so people know they can spend Bitcoins day to day just by doing 1 online action (and also allow them to withdraw money from a ATM with the card) Bitcoin will easily be able to merit prices beyond $1,000. Note that this does not require any merchants to know or care about Bitcoin, just allowing us to move money into day to day spending at whenever we want will increase the value tremendously.

Imagine telling a friend about bitcoins and how they can be used all over the internet without ever having to worry about your details being stolen, and then tell them that you can top up your card whenever you want to buy a coffee or pay rent. Very valuable.

At this point the only reason to cash out would be to day trade the bubbles and such, but no longer any real reason to actually cash to fiat, this also increases Bitcoins value and stabilizes it because this rush to cash into fiat is removed.

Now the future a lot of you are talking about, Bitpay similar services acting as point of sale and even bitcoin payment systems using the blockchain in many stores, this future will happen perhaps, but it's further away and means most people know what Bitcoin is. Once we get to this point where Bitcoin is as common as the words paypal, bank and VISA/MasterCard we will be so far north of $10,000 that $1,000 will be remembered as the cheap old days.

What I am trying to say is even something like easily topped up VISA cards will allow Bitcoin to sustain $1,000+ prices very easily. Its also in VISA's best interest to do so, they can make a small fee on each top up and if they start buying Bitcoin as a investment now the payoff will cement them as a finance leader for decades to come. And in the process destroy MasterCard. (Or vice versa, whichever one does it first wins it all)

When 1/5 stores actually accepts some kind of Bitcoin payment, those days are the $10,000 days.

[domob]

When I can top up  a pre-paid VISA/Mastercard with Bitcoin very quickly and easily Bitcoins will become more valuable.

I agree with you that this would surely boost Bitcoin's usefulness a lot, but personally I wouldn't use such a service.  I don't use credit cards (or ATM cards which are more common in Austria) myself and value my privacy paying with cash.  After all, it's none of VISA's (or my bank's) business to know when, where and what I buy for my living, and it's also none of my grocery store's business to know what else I bought when with them by matching my payments together automatically.

I will start using Bitcoins for those purchases when I can pay with a mobile wallet app directly to an address, or when off-chain providers exist that allow me to pay with anonymous accounts where I can easily create new ones from time to time to break the chain of all my transactions.

[jubalix]

People should stop dreaming about 10,000 $ / BTC anytime soon. 1,000 $ is possible in 2014 during a bubble spike,
but after that the spikes will grow slower, something like 2,000 in 2015, 3,000 in 2016, and 4,000 in 2017.

why would the spikes grow slower?
growth should be exponential, no?

which would mean the bubble will get closer and closer together,  pretty soon a bubble pop will be immediately followed by another bubble!
  

I agree with this, if anything the btc environment is speeding up, on slowing down, exponentially

[MrHempstock]

Fundamentally, Bitcoin markets still have a problem. And that problem is that a few hold so many coins.  It doesn't matter what small fish do, when whales start selling, everyone will follow because the small fish can not create enough buying pressure to stop it.  We've seen that with every crash.  Plus many small fish are weak hands and will follow whatever everyone else is doing anyway.

Bottom line, if whales sell at $1000, everyone else will try to sell too.  And many wont get out in time, just like the $260 crash.  If whales start big buying, so will everyone else.  All the talk about new people and media attention, blah, blah, blah...is pointless.  If they are not new whales entering the market, it won't do anything to change the trend created by the whales.  

Really we should be thankful any time that whales are selling out, because it means they are distributing their "hoard" of Bitcoins to many other people.

+1

[Ares]

Fundamentally, Bitcoin markets still have a problem. And that problem is that a few hold so many coins.  It doesn't matter what small fish do, when whales start selling, everyone will follow because the small fish can not create enough buying pressure to stop it.  We've seen that with every crash.  Plus many small fish are weak hands and will follow whatever everyone else is doing anyway.

Bottom line, if whales sell at $1000, everyone else will try to sell too.  And many wont get out in time, just like the $260 crash.  If whales start big buying, so will everyone else.  All the talk about new people and media attention, blah, blah, blah...is pointless.  If they are not new whales entering the market, it won't do anything to change the trend created by the whales.  

Really we should be thankful any time that whales are selling out, because it means they are distributing their "hoard" of Bitcoins to many other people.

+1

Unless they buy back even more Bitcoins at a lower price.

[hromobiti]

When I can top up  a pre-paid VISA/Mastercard with Bitcoin very quickly and easily Bitcoins will become more valuable.

The process would be go online and one time buy for $10 a pre-paid card, then go to account online to convert BTC into the card balance needed. This would mean no need to go exchanges and whenever I need real world money I can create it from my Bitcoins. (No service like this exists in Australia)

If such a service exists so people know they can spend Bitcoins day to day just by doing 1 online action (and also allow them to withdraw money from a ATM with the card) Bitcoin will easily be able to merit prices beyond $1,000. Note that this does not require any merchants to know or care about Bitcoin, just allowing us to move money into day to day spending at whenever we want will increase the value tremendously.

Imagine telling a friend about bitcoins and how they can be used all over the internet without ever having to worry about your details being stolen, and then tell them that you can top up your card whenever you want to buy a coffee or pay rent. Very valuable.

At this point the only reason to cash out would be to day trade the bubbles and such, but no longer any real reason to actually cash to fiat, this also increases Bitcoins value and stabilizes it because this rush to cash into fiat is removed.

Now the future a lot of you are talking about, Bitpay similar services acting as point of sale and even bitcoin payment systems using the blockchain in many stores, this future will happen perhaps, but it's further away and means most people know what Bitcoin is. Once we get to this point where Bitcoin is as common as the words paypal, bank and VISA/MasterCard we will be so far north of $10,000 that $1,000 will be remembered as the cheap old days.

What I am trying to say is even something like easily topped up VISA cards will allow Bitcoin to sustain $1,000+ prices very easily. Its also in VISA's best interest to do so, they can make a small fee on each top up and if they start buying Bitcoin as a investment now the payoff will cement them as a finance leader for decades to come. And in the process destroy MasterCard. (Or vice versa, whichever one does it first wins it all)

When 1/5 stores actually accepts some kind of Bitcoin payment, those days are the $10,000 days.

Its possible but not anytime soon

[pisces1999]

if whales sell at $1000, everyone else will try to sell too.  And many wont get out in time

[jubalix]

eh when btc goes to 10K the pressure for retailers  to accept will be immense.

I am sure they will find a way to get a bit of that 100 billion cash capital, I mean think about that just the market cap, not the velocity of the money which can easily be 10-20 x that in a year.

1T of goods and services up for grabs.... a year!

[Hfleer]

I think $1000 is the price a lot of people are anticipating. It's high enough that much of the 'old money' in this economy will start to rumble and awaken from their slumber. I'm not sure if the price could reach a sustainable $1000, as it is the sweet spot for a lot of people. Thoughts?

If it goes to $1000, it will hit $10,000 in a matter of hours. Maybe minutes

Yup.  You never really know.  If BTC price is exploding up at the time it reaches 1,000 it could blow right by as easily as it did 50 or 60.