What is Bitcoin's next catalyst for growth ?

[Mjbmonetarymetals]

Well go on then in one line what's next on the horizon that will take Bitcoin over the $3000 mark.

Integration into PayPal, EBay, western union or positive regulation somewhere in the world or just plain old adoption in general. It'll just be interesting what comes to mind try and do so before reading everyone else's ideas then it's everyones individual golden-brainfart.

This is mine ok it's a long shot -

 Switzerland switching its currency from the Swiss franc to Bitcoin  

[SlyFoxy12]

I think it'll be the integration of more bitcoin merchants, not even big ones just a much wider adoption, I don't think we'll see any major announcements for at least the next year sadly.

[bitcoinpsftp]

I think it will be a very easy to use wallet that is phone based, and a lot of merchants accepting it for payment.  Ease of use is fundamental.

[TheJacob]

What was its last catalyst for "growth"?

Mostly just rampant speculation. Hopefully someone will find/create a use for bitcoins that doesn't exist yet. I don't think a widespread adoption of bitcoin by merchants is very likely to happen anytime soon.

Exchanges that aren't awful would probably help.

[Mjbmonetarymetals]

What was its last catalyst for "growth"?

Mostly just rampant speculation. Hopefully someone will find/create a use for bitcoins that doesn't exist yet. I don't think a widespread adoption of bitcoin by merchants is very likely to happen anytime soon.

Exchanges that aren't awful would probably help.

Well china is/was the last catalyst for growth from $200, I would call this adoption rather than speculation alone, there's still enormous scope for growth yet across the globe

As Bitcoin increases in value more and more online retailers will naturally want to tap into this group of Bitcoin holders ... Speaking of which -  shameless plug "imore" now accepts Bitcoin supporting such as these will help speed up Bitcoin adoption.

http://www.imore.com/imore-store-now-accepting-bitcoin

[zimmah]

the next mayor catalyst for growth will probably be a large supermarket chain accepting bitcoins

[TheJacob]

Well china is/was the last catalyst for growth from $200, I would call this adoption rather than speculation alone, there's still enormous scope for growth yet across the globe

How much of that growth in china is due to actual usage though? I know there are some uses in china, but most of the volume in china is investment/speculation is it not?

[XBBlade]

Haha Switzerland won't do that ever. Their financial position in their country is amazing. I mean salary compared to other european countries!! Insane.

But I think implementing it in amazon would be great for Bitcoin!

[Mjbmonetarymetals]

Well china is/was the last catalyst for growth from $200, I would call this adoption rather than speculation alone, there's still enormous scope for growth yet across the globe

How much of that growth in china is due to actual usage though? I know there are some uses in china, but most of the volume in china is investment/speculation is it not?

Even the way they are regulating it as commodity rather than currency in china a "saving culture" gives a nod to its potential as a store of value rather than simply a payment vehicle.

 I say its spans all 3 nicely currency, commodity and payment system hence the approach of holding a good portion while spending some in Bitcoin accepting stores means Bitcoin's purchasing power will continue to rise over time.

[Mylon]

This is mine ok it's a long shot -

 Switzerland switching its currency from the Swiss franc to Bitcoin  

Yea this is a long shot...

However I believe the next one is this if it works out: http://www.coindesk.com/swiss-lawmakers-bitcoin-foreign-currency/

So yea, we can go up to 3k on the Chinese rally thats still going on, and then the Swiss will take us to 10k

[empoweoqwj]

Well go on then in one line what's next on the horizon that will take Bitcoin over the $3000 mark.

Integration into PayPal, EBay, western union or positive regulation somewhere in the world or just plain old adoption in general. It'll just be interesting what comes to mind try and do so before reading everyone else's ideas then it's everyones individual golden-brainfart.

This is mine ok it's a long shot -

 Switzerland switching its currency from the Swiss franc to Bitcoin  

That's a very long shot. Like a sniper hitting from 100 miles away

But a good question .....

1) More countries defining the legality of bitcoin
2) Many more bitcoin ATM machines around the globe (look how successful the first one wass)
3) Better wallets (hardware)
4) Less websites stealing peoples bitcoins (people need to learn not to store their bitcoins on websites run by god knows who)
5) Organic growth
6) Various financial crises in 2014
7) New potential uses for bitcoin actually getting implemented
Integration by a big payment provider
9) Education of the "masses" about the benefits of bitcoin
10) Can't think of a 10th off hand

[qwerty555]

If we are talking about rapid growth apart from what has already been stated

- any top 3 major social network site and/or payment site like FB or Paypal accepting bitcoin will spur demand and use dramatically.

I would expect that is a when not if scenario.

[niniyo]

- Widely available, easy to use, highly secure hardware wallets (after a few generations of trezor etc).
- ATMs deployed worldwide
- Clearer policy on Bitcoin from governments (which seems to be developing at a rapid pace).
- Continued merchant adoption so that BTC-to-fiat becomes less of an appealing exit strategy for bitcoin holders
- Increased transactions-per-second on the blockchain and some confidence that we will maintain low tx fees in the short/medium term
- Further endorsement by pop culture (starting to happen with Simpsons, Snoop Dogg, Mel B)
- Time: bitcoin is just so young.. you can count the number of days it has been over $1000.  It needs to spend some serious time at these valuations to help build confidence in its value.
- Exchanges: These need to keep getting better, and need to appear in more regions.  Something like Buttercoin would be nice..

The ultimate catalyst, if it happens, will be hyperinflation and the collapse of paper money.  But, bitcoin needs to first be ready for it first.

[Anon136]

Reduction of barriers to entry. More atms. Brick and mortars in every town selling bitcoin.

[Bitcoinpro]

lowering of transaction fees

[empoweoqwj]

If we are talking about rapid growth apart from what has already been stated

- any top 3 major social network site and/or payment site like FB or Paypal accepting bitcoin will spur demand and use dramatically.

I would expect that is a when not if scenario.

I don't believe FB or PayPal will integrate bitcoin unless they have absolutely no financial choice. They will attempt to destroy it first. Only if that fails will they "partner up". Expect a long fight, certainly not going to happen in 2014

[franky1]

the next mayor catalyst for growth will probably be a large supermarket chain accepting bitcoins

+1

something like walmart, tesco. or 711 where you can get items for general living/lifestyle, thats when bitcoin will become an everyday use currency

[railzand]

poor figures reported by western union

Scotland adopts bitcoin

[greenlion]

Argentina is the next big adoption scenario, because right now there is a huge demand for capital flight.

[empoweoqwj]

I agree about the supermarket chain, or 7-11. I'm sure as bitcoin goes more mainstream in 2014 one supermarket chain will give it a go, they are all desperate to give people a reason to shop at their place instead of Tesco or Walmart.

What about charities? People really trust (some) charities. It would be great if the biggest ones would start accepting bitcoin donations. I can't do my Xmas shopping with bitcoins, but I would certainly like to donate some coinage at christmas to a worthy cause.