When Will Bitcoin Reach $1000??

[Lauda]

Nice graph, but exponencial growth cannot last forever 

The graphs are awesome.
Yes, yes it can last forever.

[AuroraHF]

Nice graph, but exponencial growth cannot last forever 

The graphs are awesome.
Yes, yes it can last forever.

Are you crazy? Exponential growth cannot last forever.

[xybersurfer]

have you seen the bitstamp order book ? it's going to crash any moment.

[BitcoinHeroes]

Nice graph, but exponencial growth cannot last forever 

The graphs are awesome.
Yes, yes it can last forever.

It only last until it bubble....

[co5hike]

have you seen the bitstamp order book ? it's going to crash any moment.

Its about time. I would like to rebuy back at about 200 

[panseit]

I think that bitcoin will hit 1000$ during Q3 of 2014.It grows rapidly

[Sevvero]

I think 2014 is a safe estimate.

[Altoidnerd]

Nice graph, but exponencial growth cannot last forever  

The graphs are awesome.
Yes, yes it can last forever.

That's correct.  The exponential growth right now is a result of the diffusion of bitcoin e.g. "how many people knowing about it" being roughly proportional to demand.  

The diffusion curve looks like this below - this sort of represents how many people know of bitcoin in the world:

http://en.wikipedia.org/wiki/Sigmoid_function



Since the log of the price is still quite linear over large times, it seems like we are still in the beginning of this diffusion.  I went into great detail on the matter on my blog, but the price of course also depends on the effective supply.  The degree to which bitcoin is being hoarded has drastic impact on the price at a given time.  The demand seems to obey this curve well and since the supply function, disregarding hoarding, is well known, we observe the log linearity.  Log linearity does imply exponential growth - overall, of course.  Keep an eye on the log linear model.

Like clockwork, bitcoin has gained 10x or 1000% in any 1 year window.  1000%/yr is an outrageous gain, but it happened 4 times and I cannot see much evidence that is changing soon.  However of course we must all recognize there will come a time with diffusion of bitcoin will slow.  At that point, I do not know what the price will do.

[Sevvero]

I'm placing bets on 2014.

[BitcoinHeroes]

Soon, I am guessing end of this year...

[ANiceJewishBoy]

Yes in the end, but I guess im not as certain as most people it wont take a nice dive first. Anything can happen we just have to sit back and watch.

I think people are just noticing that people are coing to the coin, which means there are entirely new economies and organizational structures being attached to Bitcoin, so the price will go up. But they don't see that it still does work kinda like a real market in that it is based on supply and demand.

[ANiceJewishBoy]

Nice graph, but exponencial growth cannot last forever 

The graphs are awesome.
Yes, yes it can last forever.

Are you crazy? Exponential growth cannot last forever.

It can last as long as Bitcoin informative measures are booming. More people are coming to Bitcoin and will for a while.

[ANiceJewishBoy]

Nice graph, but exponencial growth cannot last forever  

The graphs are awesome.
Yes, yes it can last forever.

That's correct.  The exponential growth right now is a result of the diffusion of bitcoin e.g. "how many people knowing about it" being roughly proportional to demand.  

The diffusion curve looks like this below - this sort of represents how many people know of bitcoin in the world:

http://en.wikipedia.org/wiki/Sigmoid_function

https://i.imgur.com/lffdyqI.png

Since the log of the price is still quite linear over large times, it seems like we are still in the beginning of this diffusion.  I went into great detail on the matter on my blog, but the price of course also depends on the effective supply.  The degree to which bitcoin is being hoarded has drastic impact on the price at a given time.  The demand seems to obey this curve well and since the supply function, disregarding hoarding, is well known, we observe the log linearity.  Log linearity does imply exponential growth - overall, of course.  Keep an eye on the log linear model.

Like clockwork, bitcoin has gained 10x or 1000% in any 1 year window.  1000%/yr is an outrageous gain, but it happened 4 times and I cannot see much evidence that is changing soon.  However of course we must all recognize there will come a time with diffusion of bitcoin will slow.  At that point, I do not know what the price will do.

Everyone read this^^^^^^^^^^^^^

[DodoB]

My estimation: 4-6 monthes or so.

it might even drop,but who knows.

[Lauda]

The amount of people that known about bitcoin is growing each day, and even this growth will increase. So an bitcoin price increase of 1000x/yr is certainly possible.

[xeit]

I am pretty new to bitcoin and love the idea behind it. I have attempted mining on an old android device I had laying around but I was only able to max out at about 572kh/h which earned me absolutely nothing after a month of it running straight. So I think I'm going to need to better equipment if I am planning on mining in the future. I would only hope I can get a hold of at least 1 btc and just hold on to it for several years and pray that it increases in value. I would hope that it passes 1000 and goes to 40,000 like some articles I've read predict.
This is my first post here and I look forward to learning and participating in this great community.

[ANiceJewishBoy]

I am pretty new to bitcoin and love the idea behind it. I have attempted mining on an old android device I had laying around but I was only able to max out at about 572kh/h which earned me absolutely nothing after a month of it running straight. So I think I'm going to need to better equipment if I am planning on mining in the future. I would only hope I can get a hold of at least 1 btc and just hold on to it for several years and pray that it increases in value. I would hope that it passes 1000 and goes to 40,000 like some articles I've read predict.
This is my first post here and I look forward to learning and participating in this great community.

It will no doubt reach prices like 40,000. But only when it is available in communities without internet, and they are extremely rare, but available. And it will be a bubble, not a real price.

[ANiceJewishBoy]

I'm ordering a few books on Economics and Bitcoin and I am going to make some pretty informative threads in the near future.

And if you love Bitcoin (and if you want someone who owns a business to start loving bitcoin)
read this: https://bitcointalk.org/index.php?topic=321086.0

[PumpkinCoin]

I am pretty new to bitcoin and love the idea behind it. I have attempted mining on an old android device I had laying around but I was only able to max out at about 572kh/h which earned me absolutely nothing after a month of it running straight. So I think I'm going to need to better equipment if I am planning on mining in the future. I would only hope I can get a hold of at least 1 btc and just hold on to it for several years and pray that it increases in value. I would hope that it passes 1000 and goes to 40,000 like some articles I've read predict.
This is my first post here and I look forward to learning and participating in this great community.

My first post too.  Opened an account at CampBX this spring.  Parked a little over $100 right after the price collapsed.  Was waiting for a good entry point under $100 per BTC.  Tried logging onto CampBX two weeks later and account log-in changed by someone else (at CampBX).  No phone # for support;  opened tech ticket which hasn't even been addressed yet.  Didn't respond to BBB complaint.  Ripped off.  Nevertheless, I have amassed over 60 BTC at Coinbase and other wallets and 85 LTC and growing....  

I wouldn't be surprised to see it hit over $1k on this move over the next couple months.  The reasoning is the ludicrously small valuation.  I don't think "float" is an issue as it can be infinitely split.  Also, it is hard to get into (and out of).  When a stock moves, momentum chasers can almost instantly move money into a stock as they already have stock market accounts.  The movements on highly speculative stocks are quicker.  With BTC, however, there could be a delay as it takes days to open an account at Coinbase or move money to Bitstamp etcetera.  People who vaguely know of BTC or follow it but haven't bought any yet and don't want to meet strangers at a coffee house to buy BTC see the price moving up, hear about it on the news and the time of the breakout is delayed.  

[birkomester]

2014