Will Bitcoin Reach $10,000 One Day?

[TRJohnnyc]

Non-sense.
And Bitcoin is not a deflating currency.
Bitcoin has a limited number of bitcoins, in the time

Some guy bought a pizza for 100000 btc  in 2010, now a pizza is worth about 0.1 btc. How is that not deflationary? Bitcoins are limited and demand for them is continually growing due to privacy concerns, tax avoidance, media attention etc. Bitcoin being limited is what makes it deflationary unlike  fiat currencies.

Does not make sense at all.



There is a limited (and not fixed) amount of oil in the world, and the number of humans is rising.
It does not mean that the price of oil will increase to infinity.

If the oil supply drops to one barrel and the people of the world decide that this one barrel is worth everything every single person on the person ever owns, they will give the owner of that barrel the wealth of the entire world, which is in practical terms, infinite. I know that is still not absolutely infinite, and such a scenario is impossible, but it explains how a price has no limits.

[ApatheticAndrew]

^^ $100... expensive pizza

But yea it could reach $10000 in a few years if it continues to be adopted by business across the planet

[bitcoin44me]

^^ expensive pizza

At this time, it was a normal price ...

[manoamano]

Some guy bought a pizza for 100000 btc  in 2010, now a pizza is worth about 0.1 btc. How is that not deflationary? Bitcoins are limited and demand for them is continually growing due to privacy concerns, tax avoidance, media attention etc. Bitcoin being limited is what makes it deflationary unlike  fiat currencies.

Because the price of btc increased between a time T1 and a time T2 does not make it "deflationary" as a permanent property.

If the oil supply drops to one barrel and the people of the world decide that this one barrel is worth everything every single person on the person ever owns, they will give the owner of that barrel the wealth of the entire world, which is in practical terms, infinite. I know that is still not absolutely infinite, and such a scenario is impossible, but it explains how a price has no limits.

As you said, it is impossible.

[co5hike]

Non-sense.
And Bitcoin is not a deflating currency.
Bitcoin has a limited number of bitcoins, in the time

Some guy bought a pizza for 100000 btc  in 2010, now a pizza is worth about 0.1 btc. How is that not deflationary? Bitcoins are limited and demand for them is continually growing due to privacy concerns, tax avoidance, media attention etc. Bitcoin being limited is what makes it deflationary unlike  fiat currencies.

10,000 BTC to be exact. To be fair today Bitcoin value could be 0 USD if things went differently. In this case it would be well spent 10,000 BTC 

[daviddiaz]

Nobody knows the exact or even orientative value of Bitcoin. As of now, it's gaining momentum, and it's just reaching the well informed masses.

I barely paid atention to Bitcoin in the past, altough I did read a lot about it, I thought it wasn't the coin that would explode. I was waiting for another coin. But it has exploded. Nobody can ignore Bitcoin now, and the supply is limited. 10k$? certainly possible. Wait until big online shops accept it, and it will gain even more momentum.

There are a lot of people interested in the success of Bitcoins beyond current Bitcoin owners. From anti-Centralized Bank printed money, to big nations contrary to the status quo.

Yeah, I expect it to explode even more and go over 10k$

[pand70]

Bitcoins are limited and demand for them is continually growing due to privacy concerns, tax avoidance, media attention etc. Bitcoin being limited is what makes it deflationary unlike  fiat currencies.

Although i agree tha bitcoins nature is deflationary, you just mentioned all the wrong reasons about why bitcoin growths. Tax avoidance, privacy etc it was some of the dreams of some libertarians that initially endorsed the currency. Since then much have changed. Just see how the price has skyrocketed after the closing of SR.

[raspcoin]

After being caught by the recent bull, I think it has the potential to reach $10,000 by the end of 2014 or slightly later. It will probably never go below $1,000 next year.

[HeroCalls]

It's possible for it to reach $10,000 eventually. It won't happen yet though. I can see Bitcoin possibly reaching $1,500+ by the end of the year.

[CryptoJunky]

Your Opinion,

Let it happen.

BTC

About this time last year people were asking if Bitcoin would hit $100 one day, which was considered a very generous estimate for the end of this year, and here we are now at $1,000. I'd expect more ups and downs, there will be bad news related to Bitcoin at some point which will lead some to question it. Assuming there isn't some catastrophic flaw in the protocol that has been missed I think we will see $10,000 Bitcoin at some point, and probably sooner rather than later.

[LitecoinStore.com]

It seems inevitable at this point.


Perhaps a year away, maybe.  LTC seems to be following the same path.

[MagicMan187]

I'm going to throw in my 2 cents..

I watched this video, and I agree with it 100%, I highly recommend to give it a watch, I think you have to read between the lines and just take a look around you to see how valuable bitcoin really could be.

http://www.youtube.com/watch?v=w4HGVJjqDVk

I believe that economies around the world are slowly being crippled due to corrupt government officials, poor decisions and wasting tax payers money juggling debts from book to book. Everyone (mainly the mainstream media) is talking about how our economies are finally "rebounding" from the 2008 recession, but you don't have to look far to see that this is clearly not the case.

We all heard about the recent "US Shutdown" right?, I believe something similar to this (albeit much worse), is right around the corner (mid - late 2014). I think the value of bitcoin will really be seen by the general public when they see their beloved fiat currency slowly melt like ice bit by bit, the next significant drop in the USD will cause the price of bitcoin to skyrocket.

I'm certain another recession is on its way in the next 2-5 years, and this one will be the BIG one, the one where many people will lose A LOT of money, assets and ultimately everything they've worked towards, putting all their trust into greedy banks and thieves who call themselves "Government Officials" or whatever.

I think the true value of bitcoin is way above its current $1000+ USD, but the general public just don't see it yet (They put all their faith in the governments and banks, who take your money for an entire year, and give you back a poxy 3-5% in interest (which you will also pay tax on)).

I don't like to keep "all my eggs in one basket", and i'm a true believer that innovation in technology and finance will really push our economy forward (and bitcoin is an example of this).

I'm going to throw my guess in at over $20,000 per BTC within the next 3 years, (We just need the public to realize they can't trust everything they hear on tv, or read in the newspaper), and due to bitcoin's limited availability (and that its divisible to 8 decimal places), I believe its just going to go higher and higher, year after year.

Sources (Google):
"economic outlook 2014"
"us debt crisis 2014"

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[raspcoin]

We just need the public to realize they can't trust everything they hear on tv, or read in the newspaper.

Trust is a very important part of bitcoin. Less trust in society will not favour technologies relying on just that.

[kingscrown]

seems it actually may

[CryptoINR]

Right not the demand is being fueled by hype. I don't know if hype will take it to $10,000. But as more people start using BitCoins for buying and selling stuff, the value would definitely exceed $10,000. Right now the BitCoin market cap is much lower than yearly revenue for the big retailers. They are not going to start accepting it for a while. The onus is on the smaller, or new players to accept BitCoins in exchange for their services and push for its adoption. But changes like that can take years to happen.

[willyb0112]

The one problem I have with bitcoin is stability. It is increasing rapidly but that also means that it could decrease rapidly as well 

[maximusde34]

It's all about public perception. Anyone heard of a financial column/site called The Motley Fool? The crypto-world needs to copy them. The Motley Fool finds a small company somewhere and they hype the hell out of their stock with a positive sales/promotional pitch. Their sales pitch works, it drives those stocks up, and their subscribers make money. Now for crypto, everyone should hype it up. We find that not many people know that they can buy partial Bitcoins and when they see 1 BTC for $1000, they shy away. "Too expensive," they say. We say, "Spend $25.00, $50.00, whatever you want. It's in essence the Poor Man's Stock Market." Guess what? They like that, and they go and buy little bits and pieces. It's growing, and how this grows depends almost entirely on what people think of it.

[cyriljames]

It seems that right now the vast majority of people who are buying into bitcoin are doing so as an investment, not to spend them on products or services.
imo the only way bitcoin hits 10k is if it becomes a widely accepted form of payment. I believe most people will be hard pressed to pay 10k for something with little actual purpose.

I do tend to believe that we will see bitcoin and other altcoins become more mainstream over the next few years and as such the value will rise as demand does.

[DreamWalker]

I would love to see Bitcoin reach over 10k. I personally like the "rocky" feel to the whole idea. A concept that came from a point in time when we needed this massive change. We are at a point where information is becoming more and more widely available. Still feels like we are in the wild west of technological advancement. So this is very much a Gold rush period of time. Learning about bitcoin when it first came about, but i soon dismissed it and focused on earning money in a more traditional way. through further education about the world money system, supporting bitcoin and other digital currencies is what im gonna be putting my focus and attention on. hopefully there are others on the same wave length. Good luck everyone

[repairguy]

Bitcoin is deflationary, as long as demand remains it will easily hit 10k