Will bitcoin reach $10,000 one day...?

[corneliusw]

I think 10,000 is highly unlikely. I can see it hitting the middle stages of that though. We have just seen the beginning stages of bitcoin.

[pasikisu]

if Bitcoin ever reaches 10K, it's gonna be by the end of 2014 I think, not a long time after that.

I think it has to take longer, 10x more value might mean 10x more time to go to this value. It would make sence to me

Only if it's linear. Now, look at this graph and tell me if it looks linear to you Maybe I'm being too optimistic, maybe getting from 1000$ to 10.000$ is much harder than from 1$ to 1000$ but I don't think so. What would make sense to me would be that the more people know Bitcoin the more people convey this news to other people and so on...

you're right, it'll most likely continue the current trend of ~80x increase per year, resulting in 1btc being worth over the entire world economy by 2017 or w/e

Thanks for you relevant reply. Something interesting to say ?

These threads are worthless. (And yeah, so are these two posts of mine.)

I think it's a bit of a problem if enough BTC owners think the value will rise to jupiter and beyond in the coming years, because that'll lead to them just sitting on their coins -> less demand since it's not used as much as it could be for buying stuff in stores.

[miners78]

I hope it does. In the short time I've been watching them they have doubled in value so its not impossible.

[nahtnam]

The real question is, "Would you be willing to spend $10,000 to buy a bitcoin if the price reached that high?"

See, thats the essential problem with bitcoin. People say that its going to go to 1 million, but its not. No one is going to buy a bitcoin for a million dollars. Most people will be selling all the BTC that they have and exchanges wont allow them to be sold since no one is really buying. That means the sell limit will be something low like 0.0001 BTC per day.

[PenAndPaper]

The real question is, "Would you be willing to spend $10,000 to buy a bitcoin if the price reached that high?"

I think people would be willing to spend 10000$ to buy 10 mbits. 

[imamanandyou]

The real question is, "Would you be willing to spend $10,000 to buy a bitcoin if the price reached that high?"

See, thats the essential problem with bitcoin. People say that its going to go to 1 million, but its not. No one is going to buy a bitcoin for a million dollars. Most people will be selling all the BTC that they have and exchanges wont allow them to be sold since no one is really buying. That means the sell limit will be something low like 0.0001 BTC per day.

If we reach 1 million/BTC, not many will have 1 BTC or more, probably between 100-1,000 million users will share all the bitcoins.

[nahtnam]

The real question is, "Would you be willing to spend $10,000 to buy a bitcoin if the price reached that high?"

See, thats the essential problem with bitcoin. People say that its going to go to 1 million, but its not. No one is going to buy a bitcoin for a million dollars. Most people will be selling all the BTC that they have and exchanges wont allow them to be sold since no one is really buying. That means the sell limit will be something low like 0.0001 BTC per day.

If we reach 1 million/BTC, not many will have 1 BTC or more, probably between 100-1,000 million users will share all the bitcoins.

But then there are people like you and me who have a few btc's and the early investors who have 100's or 1000's!

[Bitcoincoinman]

The real question is, "Would you be willing to spend $10,000 to buy a bitcoin if the price reached that high?"

See, thats the essential problem with bitcoin. People say that its going to go to 1 million, but its not. No one is going to buy a bitcoin for a million dollars. Most people will be selling all the BTC that they have and exchanges wont allow them to be sold since no one is really buying. That means the sell limit will be something low like 0.0001 BTC per day.

I could only afford 0.29 of a bitcoin when I started a few weeks ago. After playing around with other cryptocurrences I'm up to 1.568BTC. So I guess what I'm trying to say is. Why would you pay 10K for a full coin

[nahtnam]

The real question is, "Would you be willing to spend $10,000 to buy a bitcoin if the price reached that high?"

See, thats the essential problem with bitcoin. People say that its going to go to 1 million, but its not. No one is going to buy a bitcoin for a million dollars. Most people will be selling all the BTC that they have and exchanges wont allow them to be sold since no one is really buying. That means the sell limit will be something low like 0.0001 BTC per day.

I could only afford 0.29 of a bitcoin when I started a few weeks ago. After playing around with other cryptocurrences I'm up to 1.568BTC. So I guess what I'm trying to say is. Why would you pay 10K for a full coin

Exactly, no one would buy and the price would drop to a reasonable price.

[imamanandyou]

The real question is, "Would you be willing to spend $10,000 to buy a bitcoin if the price reached that high?"

See, thats the essential problem with bitcoin. People say that its going to go to 1 million, but its not. No one is going to buy a bitcoin for a million dollars. Most people will be selling all the BTC that they have and exchanges wont allow them to be sold since no one is really buying. That means the sell limit will be something low like 0.0001 BTC per day.

If we reach 1 million/BTC, not many will have 1 BTC or more, probably between 100-1,000 million users will share all the bitcoins.

But then there are people like you and me who have a few btc's and the early investors who have 100's or 1000's!

Almost all coins will be redistributed in 20-50 years timeframe if price will keep rising, I and you will most likely not hold 1 BTC anymore

[nahtnam]

The real question is, "Would you be willing to spend $10,000 to buy a bitcoin if the price reached that high?"

See, thats the essential problem with bitcoin. People say that its going to go to 1 million, but its not. No one is going to buy a bitcoin for a million dollars. Most people will be selling all the BTC that they have and exchanges wont allow them to be sold since no one is really buying. That means the sell limit will be something low like 0.0001 BTC per day.

If we reach 1 million/BTC, not many will have 1 BTC or more, probably between 100-1,000 million users will share all the bitcoins.

But then there are people like you and me who have a few btc's and the early investors who have 100's or 1000's!

Almost all coins will be redistributed in 20-50 years timeframe if price will keep rising, I and you will most likely not hold 1 BTC anymore

Why is that? Every time I reach 0.05 I keep it in a paper wallet leaving only as much as I need.

[Farce]

I think if you consider the vast majority of the worlds population who dont own or have probably not even heard of bitcoin.
By the time they do hear about it, the price mayt be 1.5-2k
They will want a piece of the crypto currency pie to invest and trade with.
By that point, a few other crypto currencies that are much cheaper than bitcoin will be seen as attractive options.

Not everyone likes the idea of making purchases in miniscule fractions!
Its not attractive!

Thats where I think other lower prices crypto currencies will be seen as more attractive.

[imamanandyou]

The real question is, "Would you be willing to spend $10,000 to buy a bitcoin if the price reached that high?"

See, thats the essential problem with bitcoin. People say that its going to go to 1 million, but its not. No one is going to buy a bitcoin for a million dollars. Most people will be selling all the BTC that they have and exchanges wont allow them to be sold since no one is really buying. That means the sell limit will be something low like 0.0001 BTC per day.

I could only afford 0.29 of a bitcoin when I started a few weeks ago. After playing around with other cryptocurrences I'm up to 1.568BTC. So I guess what I'm trying to say is. Why would you pay 10K for a full coin

Exactly, no one would buy and the price would drop to a reasonable price.

You can buy 0.01 BTC for $100 when price is 10K / BTC. Price does not matter if bitcoin is usefull

[nahtnam]

The real question is, "Would you be willing to spend $10,000 to buy a bitcoin if the price reached that high?"

See, thats the essential problem with bitcoin. People say that its going to go to 1 million, but its not. No one is going to buy a bitcoin for a million dollars. Most people will be selling all the BTC that they have and exchanges wont allow them to be sold since no one is really buying. That means the sell limit will be something low like 0.0001 BTC per day.

I could only afford 0.29 of a bitcoin when I started a few weeks ago. After playing around with other cryptocurrences I'm up to 1.568BTC. So I guess what I'm trying to say is. Why would you pay 10K for a full coin

Exactly, no one would buy and the price would drop to a reasonable price.

You can buy 0.01 BTC for $100 when price is 10K / BTC. Price does not matter if bitcoin is usefull

Yes but think of the early onvesto once (if) bitcoin reaches 1 millions.

[imamanandyou]

Not everyone likes the idea of making purchases in miniscule fractions!
Its not attractive!

Thats where I think other lower prices crypto currencies will be seen as more attractive.

Ok, make the lower prices crypto currencies actually usefull, then they might become attractive

[imamanandyou]

The real question is, "Would you be willing to spend $10,000 to buy a bitcoin if the price reached that high?"

See, thats the essential problem with bitcoin. People say that its going to go to 1 million, but its not. No one is going to buy a bitcoin for a million dollars. Most people will be selling all the BTC that they have and exchanges wont allow them to be sold since no one is really buying. That means the sell limit will be something low like 0.0001 BTC per day.

I could only afford 0.29 of a bitcoin when I started a few weeks ago. After playing around with other cryptocurrences I'm up to 1.568BTC. So I guess what I'm trying to say is. Why would you pay 10K for a full coin

Exactly, no one would buy and the price would drop to a reasonable price.

You can buy 0.01 BTC for $100 when price is 10K / BTC. Price does not matter if bitcoin is usefull

Yes but think of the early onvesto once (if) bitcoin reaches 1 millions.

And what, 1 Bitcoin costed penny very early, and now cost $1,000

[Farce]

Not everyone likes the idea of making purchases in miniscule fractions!
Its not attractive!

Thats where I think other lower prices crypto currencies will be seen as more attractive.

Ok, make the lower prices crypto currencies actually useful, then they might become attractive

Thats were I think certain crypto coins will prevail over others.
Those with a large distribution of coins and a large market cap.
I'm considering buying into some as an investment and as something to trade with.
I have a couple of online businesses and already offer bitcoin as payment, but I want to offer something with a more stable price.
Taking bitcoins as payment for expensive items I sell right now is suicidal! for a business.
Say I sold one of my 24k Gold iPhones, and boom the prices crash the next day for BTC. leaving me screwed.

For trade, we need something more stable with a nice steady growth chart.

THAT is a key point when it comes to a CC being accepted as a useful method of trade..
Right now Quark Coin looks the most promising to me. With a large distribution, large amount of coins, and 1 million mined per year after the first 6 months.

[nahtnam]

The real question is, "Would you be willing to spend $10,000 to buy a bitcoin if the price reached that high?"

See, thats the essential problem with bitcoin. People say that its going to go to 1 million, but its not. No one is going to buy a bitcoin for a million dollars. Most people will be selling all the BTC that they have and exchanges wont allow them to be sold since no one is really buying. That means the sell limit will be something low like 0.0001 BTC per day.

I could only afford 0.29 of a bitcoin when I started a few weeks ago. After playing around with other cryptocurrences I'm up to 1.568BTC. So I guess what I'm trying to say is. Why would you pay 10K for a full coin

Exactly, no one would buy and the price would drop to a reasonable price.

You can buy 0.01 BTC for $100 when price is 10K / BTC. Price does not matter if bitcoin is usefull

Yes but think of the early onvesto once (if) bitcoin reaches 1 millions.

And what, 1 Bitcoin costed penny very early, and now cost $1,000

Lets say I was an early investor and bought 100 btc's. then I forgot about it until it was a million dollars. Now I try to sell all of it. Lets say people buy $100 worth of btc each transaction. 1 million people will have to buy btc which will take a while. Now there are people with 1000's of btc. How would the market be able to cope with that?

[PenAndPaper]

I think if you consider the vast majority of the worlds population who dont own or have probably not even heard of bitcoin.
By the time they do hear about it, the price mayt be 1.5-2k
They will want a piece of the crypto currency pie to invest and trade with.
By that point, a few other crypto currencies that are much cheaper than bitcoin will be seen as attractive options.

Not everyone likes the idea of making purchases in miniscule fractions!
Its not attractive!

Thats where I think other lower prices crypto currencies will be seen as more attractive.

This is happening already and thats why ltc for example had a higher rise than bitcoin. The cure for that is as many suggest to switch to mbtc like bitcoinity already did.

[smothbe]

yeah why not