bitcoin volatility and future

[tondiego]

Bitcoin is definitely the future of currency. For online markets at least.
There is high volatility of bitcoin in exchange rates nowadays, but it is caused by still relatively small number of holders of BTC and merchants accpeting BTC. Though numbers are growing every day. However there is still long road to go and we're only at the beginning.

The stability of exchange rate can be achieved by enter of some big player or players into the BTC world. By that time the exchange rate should be somewhere 10mil$/BTC, or better to say 10000$/mBTC, or even better 10$/milliBTC.

I think this is also important for BTC to become widespread, to realise that amount of 1BTC is freaking huge amount of money (well will be in the future). And it would be better to switch to mBTC, or milliBTC eventually (when the exchange rate will grow to this level).

Lately I've bought just 0.1BTC. I told about it to my friends and most of them were jsut surprised, why so little?! They had absolutely no clue, that I actually bought a hell of a lot (for the future) 

I'm not true believer, but more of a realist I would say 

[Vernunft]

 I'm skeptikal. I wont believe it until I see it. In that case, I would be rich. And I really doubt this will happen.  

[IOerror]

you're a realist? lol.
10 mln$ / btc? no way that's 210,000 billions usd - well maybe if the usd totally collapses, or after ww3, or if btc replaced all the other currencies worldwide in the very long term.
i don't think btc will be the currency of the future - another improved cryptocoin will replace it (probably controlled by a few banks and backed by puppet govs - they will steal and rape it, just like they did with the idea of a free internet).

but i hope you're right ;-)

[tondiego]

The question is not that if it will happen, but when. Sure it might to take 10/20/30 years. But it will happen. And why am I so sure about it?
Just read the basic facts about BTC and if you fully understand the basics BTC (and some other crypto-currencies) is built upon, it's like law of nature. Something that was always there, waiting to be discovered. And it was, fortunately. It's like Pythagoras Theorem.

[tondiego]

Mathematically. IF BTC would take over just 1% of worldwide markets and currency holders. It's price would be somewhere 1mil$/1BTC. Simple as that.

[ebritno]

To think, I once had over 220 coins a year or two back. I spent my whole part time fast food paycheck all on coins. Because I believed BTC would get big. Then I pulled them out because I put to much stock in what others were telling me. "your an idiot, your craxy". That week I watched my paycheck turn into a years pay.

The only thing worse than losing when you put your money where your mouth is, is losing for not keeping your money where your mouth is.

I am not making the same mistake twice.

[umaOuma]

you're a realist? lol.
10 mln$ / btc? no way that's 210,000 billions usd

It is just market cap, but the amount of money at exchanges required would be much lower for 10 mln$ / btc. The same happening today

[Francky85]

So many things have to happen before you can even begin to consider $10 Million per BTC, fistly making it simple enough for the average person to be able to use it safely, for example loosing their money by formatting their PC HDD etc.

Plus having a system where standard fiat is easily convertable into BTC, without charges and banks shutting your account down for dealing with bitcoin based companies.

Many hurdles to overcome before you get anywhere near that sort of level.

[over1977v]

I think this is also important for BTC to become widespread, to realise that amount of 1BTC is freaking huge amount of money (well will be in the future). And it would be better to switch to mBTC, or milliBTC eventually (when the exchange rate will grow to this level).

Lately I've bought just 0.1BTC. I told about it to my friends and most of them were jsut surprised, why so little?! They had absolutely no clue, that I actually bought a hell of a lot (for the future) 

Nice post, it is better use Satoshis instead, buying bit over 100,000 satoshis now for just $1 seems as pretty good deal now