Bitcoin could be worth 100x more than today.

[Lethn]

If they run off with everyone's money or the ETF drops off the exchange don't say I didn't warn you, seems like a fine way to syphon BTC off unsuspecting investors.

[1715323558]

1715323558

[Eternity]

Yes that looks very feasible to achieve

[bythesea]

I would be happy to see 1000$ for bitcoin, but even that is 2 much. The moment when it goes mainstream the value will drop.

[defaced]

When btc was less than a cent, people thought it would never reach $1. When it was $1 they said that it would never pass $10 and so goes the story, everytime.

Ohhhh how they tricked me into selling at $2 lol

[Lauda]

When btc was less than a cent, people thought it would never reach $1. When it was $1 they said that it would never pass $10 and so goes the story, everytime.

Ohhhh how they tricked me into selling at $2 lol

This is how they will trick you to sell now, and then it hits $10,000. 

[Martijnvdc]

I would be happy to see 1000$ for bitcoin, but even that is 2 much. The moment when it goes mainstream the value will drop.

Why would the value drop if it goes mainstream?

[Lauda]

I would be happy to see 1000$ for bitcoin, but even that is 2 much. The moment when it goes mainstream the value will drop.

Why would the value drop if it goes mainstream?

That's wrong. It will fly up.

[cr1776]

I would be happy to see 1000$ for bitcoin, but even that is 2 much. The moment when it goes mainstream the value will drop.

Because that is always how things with limited supply work.  </sarcasm>

 

[applelover]

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

The GDP of Cyprus is $23 billion.  If it switched from the Euro to Bitcoin and if it could magically get all 12 million Bitcoin that have ever been minted, each Bitcoin would be worth about $1900.

GDP is an annual number.  it has nothing to do with the net amount of value, or currency, in existence in Cyprus.  so, i think your logic is wrong.

[Hawker]

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

The GDP of Cyprus is $23 billion.  If it switched from the Euro to Bitcoin and if it could magically get all 12 million Bitcoin that have ever been minted, each Bitcoin would be worth about $1900.

GDP is an annual number.  it has nothing to do with the net amount of value, or currency, in existence in Cyprus.  so, i think your logic is wrong.

But doesn't a country require that its currency covers at least its GDP?

[Lauda]

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

The GDP of Cyprus is $23 billion.  If it switched from the Euro to Bitcoin and if it could magically get all 12 million Bitcoin that have ever been minted, each Bitcoin would be worth about $1900.

GDP is an annual number.  it has nothing to do with the net amount of value, or currency, in existence in Cyprus.  so, i think your logic is wrong.

I'd rather see some other country adopt Bitcoin than Cyprus.

[applelover]

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

The GDP of Cyprus is $23 billion.  If it switched from the Euro to Bitcoin and if it could magically get all 12 million Bitcoin that have ever been minted, each Bitcoin would be worth about $1900.

GDP is an annual number.  it has nothing to do with the net amount of value, or currency, in existence in Cyprus.  so, i think your logic is wrong.

But doesn't a country require that its currency covers at least its GDP?

shouldn't all net worth be covered by currency? i know the calculation you are trying to do, cause i'd like to do it also, but i'm not sure how.  i think the number should be higher than what you put forth though.

"The net worth of the United States and its economic sectors has remained relatively consistent over time. The total net worth of the United States remained between 4.5 and 6 times GDP from 1960 until the 2000s, when it rose as high as 6.64 times GDP in 2006, principally due to an increase in the net worth of US households in the midst of the United States housing bubble. The net worth of the United States sharply declined to 5.2 times GDP by the end of 2008 due to declines in the values of US corporate equities and real estate in the wake of the subprime mortgage crisis and the global financial crisis. Between 2008 and 2009, the net worth of US households had recovered from a low of 3.55 times GDP to 3.75 times GDP, while nonfinancial business fell from 1.37 times GDP to 1.22 times GDP.[7]"

[ripple]

The Winklevoss brothers have a vested interest as they hold large stocks of Bitcoin, previously quoted to be 1% of Bitcoins, and have opened a fund around it, and so they would be expected to be bullish on Bitcoin. Success in their fund and personal net worth depends on them convincing others to invest in their dream.  For them the sky is the limit, and a Bitcoin has potential to be worth $40,000 or more.  It would be surprising if they did not have this attitude.

Now ask a a banker being asked by a miner to underwrite a proposal to build a datacentre of equipment containing new HashFast Sierras. The lender may appear to be prudent in using the current value of Bitcoins and then quartering it or quadrupling it, say from $400 to $100, or $400 to $1,600, over a year to examine the project probable outcomes.

The reality in the long term is somewhere in the middle, where the price of Bitcoins is given as:

   PRICE = TRANSACTIONS VALUE + INVESTMENT VALUE

Examples of positive forces would be if Ebay or Amazon incorporated Bitcoin into their processing system, then the Transaction Value will be enormous.  By further example of a positive influence would be if the Chinese were to hold more Bitcoins than ounces of Gold as a store of savings, then the Investment Value would be be massive.

Against this is are politicians running governments feeling a need to take a stance against Bitcoins due to the advantage it offers for hiding the identities of perpetrators of blackmail, such as Bitcoin payment extorted to recover your files on computer.  There are also hackers waiting to take any means to steal other persons Bitcoins, such as the exploit on android phones they used to empty phone wallet.

No one can predict the future price of Bitcoins, however when listening to predictions try to discover the vested interest of the soothsayer.  Is it a dodgy manager at Butterfly Labs wanting you to upgrade rather than cancel your 12 month old pre-order who talks of Bitcoin in the thousands, or is it someone posting on this forum how wonderful and profitable their equipment may become if Bitcoin soars as hidden to members they are actually selling their uneconomical equipment on Ebay.

[Lauda]

40 000$; seems possible.

[AnonyMint]

Other than ALL governments filtering the protocol on the internet (which is very unlikely), the only thing that could potentially slowdown Bitcoin's meteoric rise in price at this stage is an altcoin that is better than Bitcoin. But it would take some time for that altcoin to reach enough market capitalization to have this effect.

Such an altcoin might immediately be appreciating faster than Bitcoin.

[Lauda]

Other than ALL governments filtering the protocol on the internet (which is very unlikely), the only thing that could potentially slowdown Bitcoin's meteoric rise in price at this stage is an altcoin that is better than Bitcoin. But it would take some time for that altcoin to reach enough market capitalization to have this effect.

Such an altcoin might immediately be appreciating faster than Bitcoin.

It would take years for one to overtake it.

[AnonyMint]

Other than ALL governments filtering the protocol on the internet (which is very unlikely), the only thing that could potentially slowdown Bitcoin's meteoric rise in price at this stage is an altcoin that is better than Bitcoin. But it would take some time for that altcoin to reach enough market capitalization to have this effect.

Such an altcoin might immediately be appreciating faster than Bitcoin.

It would take years for one to overtake it.

If Bitcoin's price is rising 10X per year, and an altcoin is rising 100X per year, then starting from $1000 versus $0.01, the altcoin reaches price parity at 5 years.

A giant sucking sound of jealously.

However, before parity that 10X would slow down, so figure on the order of 3 years if this ratio applied. Who knows what the actual ratio would be. It depends on the impact of the relative feature sets.

In most cases, it could not happen. The feature set of the altcoin would have be undeniably superior beyond any reasonable doubt.

[AnonyMint]

Other than ALL governments filtering the protocol on the internet (which is very unlikely), the only thing that could potentially slowdown Bitcoin's meteoric rise in price at this stage is an altcoin that is better than Bitcoin. But it would take some time for that altcoin to reach enough market capitalization to have this effect.

Such an altcoin might immediately be appreciating faster than Bitcoin.

It would take years for one to overtake it.

If Bitcoin's price is rising 10X per year, and an altcoin is rising 100X per year, then starting from $1000 versus $0.01, the altcoin reaches price parity at 5 years.

A giant sucking sound of jealously.

However, before parity that 10X would slow down, so figure on the order of 3 years if this ratio applied. Who knows what the actual ratio would be. It depends on the impact of the relative feature sets.

In most cases, it could not happen. The feature set of the altcoin would have be undeniably superior beyond any reasonable doubt.

In 3 more years if unabated Bitcoin's market cap will be in the $trillions. At this point it will be a major percentage of global wealth.

So what is likely to abate Bitcoin's rate of appreciation is saturation of global wealth. Thus by 2016 we should see the mainstream financial system collapsing as I assume moving this much wealth out of it will cause contagion with the $quadrillion of (mostly credit-swaps on bonds) derivatives.

2016 has been the year that Armstrong's models predict the globe turns down into the worst global implosion (much worse than 2008).

[DoomDumas]

$100,000? wohoo, I will be millionaire if I have 10 BTC now!!

It's too much. Nobody will pay that amount for 1 coin. Not even 10,000 for 0.1 or 1000 for 0.01. It's insane.

1000-3000? Maybe...

Anyone would be fine with 1$ per Satoshi !

[Lauda]

Anyone would be fine with 1$ per Satoshi !

Mili and micro bitcoin too.