Who will fund BTC price above $1200+ ????

[BurtW]

We are doomed

How about we simply tell people that they can buy part of a Bitcoin.  Too simple?

[wormbog]

Why do people automatically think a bitcoin is not divisible? Because real coins aren't divisible. And most investment assets aren't divisible. Go try to buy a half share of Microsoft, or a half of a gold coin.

Most of the media publicity is reinforcing this belief. Most of the news articles you read about bitcoin have a big picture of fingers holding a physical bitcoin, or a big pile of physical bitcoins. And you can't blame them - there's no way to take a picture of a "real" bitcoin. It's just a string of numbers.

A casual investor sees bitcoin in the headlines all over the place. They've seen pictures of physical bitcoins. They've heard people talking about the incredible growth and how bitcoin will be as transformative as the internet itself. They want to invest before it's too late! But then they read a bitcoin costs $900, and ask themselves, "Do I have an extra 900 bucks lying around right now?"  If not, they won't buy. It's not because they're stupid. It's because the name "bitcoin" and images in the media of physical bitcoins create a false impression of what a bitcoin really is.

[udet4food]

Why do people automatically think a bitcoin is not divisible? Because real coins aren't divisible. And most investment assets aren't divisible. Go try to buy a half share of Microsoft, or a half of a gold coin.

Most of the media publicity is reinforcing this belief. Most of the news articles you read about bitcoin have a big picture of fingers holding a physical bitcoin, or a big pile of physical bitcoins. And you can't blame them - there's no way to take a picture of a "real" bitcoin. It's just a string of numbers.

A casual investor sees bitcoin in the headlines all over the place. They've seen pictures of physical bitcoins. They've heard people talking about the incredible growth and how bitcoin will be as transformative as the internet itself. They want to invest before it's too late! But then they read a bitcoin costs $900, and ask themselves, "Do I have an extra 900 bucks lying around right now?"  If not, they won't buy. It's not because they're stupid. It's because the name "bitcoin" and images in the media of physical bitcoins create a false impression of what a bitcoin really is.

Maybe it is better, these people would be weak hands anyway. Bitcoin need users who understad why they need the Bitcoin, not just speculative hordes

[Voodah]

With all the mBTC discussion, I don't see this posted or mentioned often. Don't know why.

Eventually at most only 21 million coins for 6.8 billion people in the world if it really gets huge.

But don't worry, there are another 6 decimal places that aren't shown, for a total of 8 decimal places internally.  It shows 1.00 but internally it's 1.00000000.  If there's massive deflation in the future, the software could show more decimal places.

If it gets tiresome working with small numbers, we could change where the display shows the decimal point.  Same amount of money, just different convention for where the ","'s and "."'s go.  e.g. moving the decimal place 3 places would mean if you had 1.00000 before, now it shows it as 1,000.00.

[Harley997]

not me. i'm already tapped out, guys.

[GriTBitS]

Don't worry about the little guy, he won't buy in until after 10k anyway! When he realizes he could have paid the house off if he would have just bought 10 bitcoins at 1k. Then he will dump his whole 401k into it! Realized losses are the worst losses! Why do you think its so hard to even buy bitcoin? If it is to succeed, The big dogs can't be having all these rich little dogs fucking with their status quo, trying to be members that their establishments and clubs. The same reason why you need 25k to be an accredited investor or 6m+ in account holdings to be offered pre IPO stock. They don't want you in the club! So stay strong and Hold on tight!

[imamanandyou]

The price above $1200+ will fund those wanting send money quickly to different country, or transfer your wealth when you move to different country. Without Bitcoin, it is hard and expensive

[exstasie]

If i had some disposable cash then I would!  Unfortunately my funds are little dry right now.  Need to advertise for my bitcoins!

[e521]

I don't see anything wrong to use mBTC instead of BTC, it's practical, nobody likes to use fractions.

You can think about this from a different angle: inflation vs deflation

Some time ago the UK govt talked about withdraw 1 penny coins from circulation (I think Canada already did?)
You can't really buy anything with a penny, so why keep using it?

With bitcoin is the opposite, because the unit gains value over time due to it's nature (deflation)

[DPoS]

I just posted on another thread, but the same applies here.   no one wants to see mBTC, they want catchy names... something like:

problem is it goes from 'a bitcoin' to 'a satoshi' without any catchy marketing names inbetween..

how about Nixons @ .01?        Clintons @  .1 ?

or some international things?  like Jabba's @ .001?

people can then start to equate $100 for a Jabba or whatever

and remember this isn't about what geeks want. It's about those other people with money that you want...

we already hit peak geek

[RodeoX]

Don't worry about the little guy, he won't buy in until after 10k anyway! When he realizes he could have paid the house off if he would have just bought 10 bitcoins at 1k. Then he will dump his whole 401k into it! Realized losses are the worst losses! Why do you think its so hard to even buy bitcoin? If it is to succeed, The big dogs can't be having all these rich little dogs fucking with their status quo, trying to be members that their establishments and clubs. The same reason why you need 25k to be an accredited investor or 6m+ in account holdings to be offered pre IPO stock. They don't want you in the club! So stay strong and Hold on tight!

You bring up a little discussed but important aspect of bitcoin. Anyone can compete with the big banks using bitcoin. All other investments have long ago been gamed by big players. As you mention, the criteria for being an "accredited" investor is insulting and shameless. You just have to be rich, that's all. You need to have a net worth of over 1 million and make $200k+ per year.
The stated reason for this is that the "little man" simply is not smart enough to handle investing and must be helped to invest by banks. Whereas a rich person is obviously naturally intelligent.  It sounds like satire, but this is the reason why you poor people are not allowed to invest for yourself. 

Bitcoin destroys this and allows anyone to enter the market at the level they can afford.

[cp1]

Is there an advantage to being an accredited investor besides being able to invest in a hedge fund?  It's not like you'd want to buy direct shares of a company if you didn't have a lot of money to be able to diversify that way.

[RodeoX]

Is there an advantage to being an accredited investor besides being able to invest in a hedge fund?  It's not like you'd want to buy direct shares of a company if you didn't have a lot of money to be able to diversify that way.

Why not? 
I just think people should be allowed to decide how to invest/waste their own money and that they are responsible for the outcome.