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Author Topic: Why I think Bitcoin will be over $5000 a coin  (Read 4583 times)
BitcoinBarrel
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November 03, 2013, 03:31:49 AM
 #1

Many of you know Satoshi has mined around 1 million Bitcoins from when the network first launched. That being said, what do you think the net worth of an individual would be that created the world's largest and most influential digital currency?

Mark Zuckerburg's net worth is around $20 Billion dollars USD for creating Facebook. There's no doubt that Facebook has revolutionized online Media to become the largest social site the world has ever known.

But Bitcoin has the potential to change the landscape of the global financial system forever and could possibly become a worldwide standard for digital transactions. It's already moving in that direction and growing every day.

So if Satoshi's Net worth comes anywhere close to $20 Billion then it wouldn't be surprising if Bitcoin was valued more than $5000 per coin.

1,000,000 Bitcoins at $5,000 per coin is $5 Billion USD.

What do you think?



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Rupture
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November 03, 2013, 04:59:35 AM
 #2

Heh I'd certainly like them to be worth that, however I doubt we will see that price for at least a year or two
BitcoinBarrel
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November 03, 2013, 05:27:44 AM
 #3

You never know it could go much higher than that, but for the time being $5000 is a reasonable figure.



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solex
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November 03, 2013, 05:42:09 AM
 #4

Satoshi deserves his (future) multi-billions for the amount of thinking and programming work he put in. He kept the faith mining for 18 months while a few people came and went until finally the whole project started taking off.

Didn't Zuckerburg just peer over Tyler and Cameron shoulder's for his billions?

Shallow
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November 03, 2013, 06:56:09 AM
 #5

Satoshi deserves his (future) multi-billions for the amount of thinking and programming work he put in. He kept the faith mining for 18 months while a few people came and went until finally the whole project started taking off.

Didn't Zuckerburg just peer over Tyler and Cameron shoulder's for his billions?

Even if satoshi wants to spend his coins he can't cause it would likely crash the price

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November 03, 2013, 09:33:43 AM
 #6

Satoshi deserves his (future) multi-billions for the amount of thinking and programming work he put in. He kept the faith mining for 18 months while a few people came and went until finally the whole project started taking off.

Didn't Zuckerburg just peer over Tyler and Cameron shoulder's for his billions?

Even if satoshi wants to spend his coins he can't cause it would likely crash the price

You mean like spending all at once? That would be so stupid. I would only spend the amount of bitcoins that I need to spend to survive and maybe improve the quality of my life a bit.

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November 03, 2013, 12:26:57 PM
 #7

One of the things I find most impressive about Satoshi is him having the confidence to hold onto his bitcoins all this time. That is the ultimate strong hands. For this he deserves every penny he's made.
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November 03, 2013, 12:29:08 PM
 #8

One of the things I find most impressive about Satoshi is him having the confidence to hold onto his bitcoins all this time. That is the ultimate strong hands. For this he deserves every penny he's made.

Or maybe he has lost his wallet-password xD
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November 03, 2013, 12:32:04 PM
 #9

One of the things I find most impressive about Satoshi is him having the confidence to hold onto his bitcoins all this time. That is the ultimate strong hands. For this he deserves every penny he's made.

Or maybe he has lost his wallet-password xD

That would be fun.  Grin

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November 03, 2013, 02:46:57 PM
 #10

One of the things I find most impressive about Satoshi is him having the confidence to hold onto his bitcoins all this time. That is the ultimate strong hands. For this he deserves every penny he's made.

Or maybe he has lost his wallet-password xD

Or: genius-dude invents money-system of the future, figures out how to remain completely anonymous, but his hard disk crashes and he made no backups  Grin
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November 03, 2013, 03:55:10 PM
 #11

One of the things I find most impressive about Satoshi is him having the confidence to hold onto his bitcoins all this time. That is the ultimate strong hands. For this he deserves every penny he's made.

I don't think the coins will ever be spent. The first strong hand, and the last.

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Baitty
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November 03, 2013, 04:30:02 PM
 #12

I honestly think it could within a few years. Just because of the past. It seems to crash then comes bouncing back with more value to it.

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November 03, 2013, 04:42:20 PM
 #13

On 10/24/13 the Bitcoin world changed.  A major hedge fund manager endorsed Bitcoin at a conference for financial advisors, and the media dialogue suddenly changed from heavily-biased negativity to optimism.  I believe someone very rich has taken a major position and is starting to "pump."  This could go to $10,000 or more before the next major "dump" and crash.

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November 03, 2013, 05:01:54 PM
 #14

Subject to the obvious qualification that this entire debate is pointless uninformed speculation and guesswork.....

That's a rise of 25 fold which puts the total value of all btc at ~ U$ 60 billion dollars. That would equate to the market cap of the 120th most valuable global company. For comparison, MasterCard is 113th at 63 billion, Amex is 90th at 74 billion and Visa is 66th at 90 billion.

I think that is plausible but probably towards the upper end of what I think is likely within the medium term (2-5 years).

 My more conservative estimate is a roughly 10 fold rise within that time scale, giving ~ US$ 2,000 per coin within 2-5 years. That is a based on doubling every 12-18 months.  

Edit: Here is the company list for 2013 (courtesy of the FT): http://media.ft.com/cms/3816a3bc-3195-11e3-a16d-00144feab7de.pdf


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November 03, 2013, 05:22:36 PM
 #15

One of the things I find most impressive about Satoshi is him having the confidence to hold onto his bitcoins all this time. That is the ultimate strong hands. For this he deserves every penny he's made.

Or maybe he has lost his wallet-password xD

He can get coins even forget the password i believe. He is creater of that system. Finds a way Smiley
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November 03, 2013, 09:23:46 PM
 #16

Subject to the obvious qualification that this entire debate is pointless uninformed speculation and guesswork.....

That's a rise of 25 fold which puts the total value of all btc at ~ U$ 60 billion dollars. That would equate to the market cap of the 120th most valuable global company. For comparison, MasterCard is 113th at 63 billion, Amex is 90th at 74 billion and Visa is 66th at 90 billion.

I think that is plausible but probably towards the upper end of what I think is likely within the medium term (2-5 years).

 My more conservative estimate is a roughly 10 fold rise within that time scale, giving ~ US$ 2,000 per coin within 2-5 years. That is a based on doubling every 12-18 months.  

Edit: Here is the company list for 2013 (courtesy of the FT): http://media.ft.com/cms/3816a3bc-3195-11e3-a16d-00144feab7de.pdf


Facebook Exec stated that first step is duplicating Golds value to the world. 
Second step is usurping banks and Visa/Mastercard.
He valued bitcoin at $400,000 per coin for doing the first.
Sky was the limit for the second.
Hmm...

Bitcoin's true purpose defined in Satoshi's message on the Genesis Block:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
View it on the Blockchain | Genesis Block Newspaper Copies
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November 03, 2013, 11:08:20 PM
 #17

One of the things I find most impressive about Satoshi is him having the confidence to hold onto his bitcoins all this time. That is the ultimate strong hands. For this he deserves every penny he's made.

Or maybe he has lost his wallet-password xD

That would be fun.  Grin

Satoshi is far too much of a genius for that.
Because all his coins are coinbase they are in 50 BTC chunks across anywhere between 10,000 to 20,000 different addresses and private keys which could be written down and stored anywhere. All with no history and total anonymity. He can cash in from one address at a time, over years, starting with the latest and get a fantastic income without tanking the price.

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November 04, 2013, 02:09:41 AM
 #18

Because all his coins are coinbase they are in 50 BTC chunks across anywhere between 10,000 to 20,000 different addresses and private keys which could be written down and stored anywhere. All with no history and total anonymity. He can cash in from one address at a time, over years, starting with the latest and get a fantastic income without tanking the price.

There are a lot of old blocks that were never spent that follow a pattern that identify Satoshi-mined blocks with a pretty good degree of certainty. If even a single satoshi of those blocks is moved, people will notice.

Buy & Hold
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November 04, 2013, 02:24:22 AM
 #19

This is along the lines of why I believe bitcoin is grossly undervalued.  If the free market can take something like facebook and instagram and deem it to be worth 10X as much as bitcoins current market cap then we have no where to go but up.  I am not one who thinks that bitcoin will replace the dollar and be used in every brick&mortar store in the world, but what it can do is worth a lot more than facebook can do.

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November 04, 2013, 06:04:00 AM
 #20

Satoshi deserves his (future) multi-billions for the amount of thinking and programming work he put in. He kept the faith mining for 18 months while a few people came and went until finally the whole project started taking off.

Didn't Zuckerburg just peer over Tyler and Cameron shoulder's for his billions?

Even if satoshi wants to spend his coins he can't cause it would likely crash the price

You mean like spending all at once? That would be so stupid. I would only spend the amount of bitcoins that I need to spend to survive and maybe improve the quality of my life a bit.
No, even if he moved only few coins the price would be affected somehow.

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