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Author Topic: I will not Die Untill Bitcoin will reach at Least 50K  (Read 48648 times)
undeadbitcoiner
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December 25, 2013, 08:05:36 PM
 #1

I am not a Writer so there will be lots of mistakes in my writing methods but i can promises you writing method could be mistake but predictions not, I have a long run in Bitcoin and some Alts, I have seen Bitcoin and Believed in Bitcoin from its 10$ price and Still alive to see all time High 8K (Nov 20, 2017) also, In my point of view (I use to create my views with News and upgoing BTC network) BTC will reach 98K or much more than my expectation very soon and this article is about that.

Before going anywhere further lets start from Bitcoin's startup and early times
According to legend, Satoshi Nakamoto began working on the Bitcoin concept in 2007. While he is on record as living in Japan, it is speculated that Nakamoto may be a collective pseudonym for more than one person.
Bitcoin.org is born!
I've been working on a new electronic cash system that's fully
peer-to-peer, with no trusted third party.

The domain was registered at anonymousspeech.com, a site that allows users to anonymously register domain names and currently accepts Bitcoins.
Nakamoto publishes a design paper through a metzdowd.com cryptography mailing list that describes the Bitcoin currency and solves the problem of double spending so as to prevent the currency from being copied. Block 0, the genesis block, is established at 18:15:05 GMT. Version 0.1 of Bitcoin is released. Compiled with Microsoft Visual Studio for Windows, it lacks a command line interface and is so complete that it furthers speculation that it was developed by more than one person, The first transaction of Bitcoin currency, in block 170, takes place between Satoshi and Hal Finney, a developer and cryptographic activist. Bitcoin mining normally stayed in Solo Mining and in Sep 18, 2010 Bitcoin Pooled Mining (operated by slush), a method by which several users work collectively to mine Bitcoins and share in the benefits, mines its first block. December 9, 2010 Mining Difficulty increases The generation difficulty exceeds 10,000

Problems
The Financial Action Task Force, an inter-governmental group that develops and promotes policies to prevent money laundering and funding of terrorists, publishes Money Laundering Using New Payment Methods, to warn about the use of digital currencies to finance terrorist groups.
Silk Road, a Bitcoin marketplace, launches an illicit marketplace for drug deals, called the eBay for drugs Helped for price increase in a short term but was bad for long term Bitcoin Future.

Bitcoin Exchange Rate while Established
New Liberty Standard publishes a Bitcoin exchange rate that establishes the value of a Bitcoin at US$1 = 1,309.03 BTC (As of Oct 5, 2009) which amount of Bitcoin's value as of Oct 5, 2017 is $5,590,251.88 and Today's value as of Nov 20, 2017 is $10,681,665.16, Price as of Oct 5, 2009 was established using an equation that includes the cost of electricity to run a computer that generated Bitcoins. Nov 6, 2010 Calculated by multiplying the number of Bitcoins in circulation by the last trade on MtGox, the Bitcoin economy exceeds US$1 million. The price on MtGox reached US$0.50/BTC.
An Australian member of the Bitcoin Forum attempts to sell his 1984 Celica Supra for 3000 BTC, and becomes the first person to offer a vehicle in exchange for Bitcoins.
June 2, 2011 At MtGox, the exchange rate touches US$10 per BTC. The Bitcoin generation difficulty surpasses 100,000. and ATH created The price of a Bitcoin on MtGox reaches an all-time high of US$31.91 with a market capitalization of around US$206 million on June 8, 2011 exactly after 6 days when Bitcoin Touched $10

May 22, 2010 when 10,000 BTC spent on pizza which Pizza's Today's price is $81,599,850.00 as of Nov 20, 2017
The first, real-world transaction using Bitcoins takes place when a Jacksonville, Florida programmer, Laszlo Hanyecz, offers to pay 10,000 Bitcoins for a pizza on the Bitcoin Forum. At the time, the exchange rate put the purchase price for the pizza at around US$25.
After Pizza transaction and exchange Bitcoin started being popular in few handful people and Over a five day period beginning on July 12, the exchange value of Bitcoin increases ten times from US$0.008/BTC to US$0.080/BTC. July 17 The MtGox Bitcoin currency exchange market is established by Jed McCaleb.

Crash and Panic
A lot of people are worried about the fluctuation and selling there BTC on pressure But New Bit-coiners are doing so we must note that.
Serious and BTC believers are holding all the BTC they have. As few people are concentrate in News which are created by Centralized monetary system. We have to believe our self first that BTC and we Bit-coiners are decentralized, our market is global market Short-term actions of governments are not important, on a global scale they can't fight the inevitable. Regulations are as good against bitcoin as sandbags against tsunami.

We are sometime focusing in Chinese Government news at the mean time I am focusing in Chinese People. Did anyone think about that Chinese Government indirectly handled a lot of profit to Bitcoin? I think no or some yes. While Chinese government issued warning and ban the deposit in the mean time Chinese Community is more curious in investing in Bitcoin and they are searching some other option of Deposit so now see what, is it loss of bitcoin or its loss of Chinese Government? of course of Government its not just a Chinese production so we don't need to worry about anything or any single government, We are Global Ruled and not Ruled by one we are Ruled by Each of Us.

Bitcoin Price Moving up by 2014
The bitcoin price is the result of supply and demand for bitcoin. The more demand there is, the higher the price goes. The more supply there is, the lower the price, The supply side of bitcoin is fairly well known, even if we look into the future. Bitcoin supply growth will drop below 15% annually very soon and finally 21 million no more then that so supply side is always lower and demand side will be always higher.
China Warns on Bitcoin but Traders are still Legal to trade.
India Warns on Bitcoin but Traders are still Legal to trade.
Singapore Government will not interfere in Bitcoin.
More then 40% of American and 20+% Globally known Bitcoin in this small movement so expect 40% global population know about Bitcoin by 2014.
New Business adopting Bitcoin and even some third party transaction are helping people to transact with bitcoin in Amazon, E bay, Walmart and such web stores.
Overstock to come on Mid 2014 and Overstock CEO clearly described why (Patrick Byrne thinks bitcoin could be a helpful addition to the payment system and his company plans to accept the currency, You’re getting rid of the interchange fees. We’re paying credit card companies around 2%. For a company whose margin is 1%, picking up 2% on that is quite attractive)
Every day New Bitcoin Accepters are on the way Today you can buy almost everything from your Bitcoin House to Car and Grocery to Electronics so why not it will reach 50K? Bitcoin have that potential to reach until i will die and Bitcoin have that potential to grow that one day 1 Satoshi will count 100$.

New Investment in Bitcoins
There are many Bitcoin supporters who believe that digital currency is the future and the only Global Currency. Those who endorse it are of the view that it facilitates a much faster, no-fee payment system for transactions across the globe. Although it is not itself any backed by any government or central bank, bitcoin can be exchanged for traditional currencies; in fact, its exchange rate against the dollar attracts potential investors and traders interested in currency plays. Indeed, one of the primary reasons for the growth of digital currencies like Bitcoin is that they can act as an alternative to national fiat money and traditional commodities like gold.

In March 2014, the IRS stated that all virtual currencies, including bitcoins will be recognized as Asset, would be taxed as property rather than currency. Gains or losses from bitcoins held as capital will be realized as capital gains or losses, while bitcoins held as inventory will incur ordinary gains or losses.

Some Other Important Price Prediction
In the past three years, Bitcoin price has increased exponentially, surging by 0.09, 0.22 and 0.66 percent in 2015, 2016 and 2017 respectively on a daily basis. In 2017, Bitcoin price increased by 0.66 percent on a daily basis, as Bitcoin price surged from $980 to $2750 within a six-month period.

If Bitcoin daily gain since 2010 is considered, by 2020, Bitcoin price should reach $250,000. This, of course, assumes that Bitcoin price will increase at an average rate of 0.42 percent on a daily basis, if the seven-year trend of Bitcoin price continues, Bitcoin will be valued at around $250,000 by 2020.

Bitcoin’s value cannot be predicted based on a linear calculation and graph. Bitcoin’s growth in terms of user base and market cap is exponential and because of it, Bitcoin price can’t be calculated with one certain formula.

After the activation of the Segwit protocol and testing of the Lightning Network, the Bitcoin market has been on a steady rise to reach $80 billion market cap. Presently, the market capitalization of Bitcoin stands at almost 50% of the entire crypto market. In addition, it has exceeded the 1% of gold’s estimated $7 trillion market cap. Due to the limited supply, people will start to realize that they might miss out of the opportunity to mine/own Bitcoin has the price will go up in a rapid way. In case the price will rise at the same pace as right now, Bitcoin price by 2020 will reach $20,000, according to the market experts’ opinion.

Last All time high price Edit on: Nov 2017

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December 25, 2013, 10:02:37 PM
 #2

I am sure they can never be $50k per 1 bitcoin. It is unbelievable.

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December 25, 2013, 10:41:51 PM
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I am sure they can never be $50k per 1 bitcoin. It is unbelievable.

Definitely improbable in the short-term, but I see absolutely no reason why they absolutely could not be. We'd need prices like that to support larger volumes of commerce.

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December 25, 2013, 10:44:14 PM
 #4

If You wait 33 years maybe they will be worth 50K Cheesy I will wait too see You in 33 years Smiley

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December 25, 2013, 11:30:21 PM
 #5

I am sure they can never be $50k per 1 bitcoin. It is unbelievable.

Of course it could be and may be you didnt read the topic clearly "Re: I will not Die Untill Bitcoin will reach at Least 50K" i am not saying that it will reach 50K by tomorrow or by next Year.

I am sure they can never be $50k per 1 bitcoin. It is unbelievable.
Definitely improbable in the short-term, but I see absolutely no reason why they absolutely could not be. We'd need prices like that to support larger volumes of commerce.

I agree improable in the short term. There are many reason price will rise upward each and everyday. Supply will be less and Demand will be high everyday, Slowly more merchandiser are inside bitcoin way so there are many reason to move up and no reason to go down.

If You wait 33 years maybe they will be worth 50K Cheesy I will wait too see You in 33 years Smiley

I will

Thanks All for views, will add more about why its actually going that up

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December 25, 2013, 11:36:55 PM
 #6

I would bet that $50K/BTC will be after 2 reward-per-block halvings (~2020 year).
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December 25, 2013, 11:37:03 PM
 #7

I am sure they can never be $50k per 1 bitcoin. It is unbelievable.

50X increase from 1000USD?

Not so unbelievable, it only requires 50X more demand...

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giantdragon
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December 25, 2013, 11:37:31 PM
 #8

Not so unbelievable, it only requires 50X more demand...
Or 50X less supply!
nastybit
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December 25, 2013, 11:39:17 PM
 #9

Mhh I think $10 to $1300 is much more doable than $1300 to $50k.
Not that this will absolutely not happen, eventually it will with time but it's a very long run!

I would bet that $50K/BTC will be after 2 reward-per-block halvings (~2020 year).

Probably we will see the biggest jump around that period.
With new ASICs coming to the market it could be very soon

CoinCidental
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December 25, 2013, 11:53:43 PM
 #10

it needs to change to mbits of something smaller because its a bit of a mess
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs  $2.50 in  fiat

a whole  bitcoin will soon be out of reach for many people and the decimal point placement
is a bit tricky if we dont start using mbits or ubits etc

Kreigyr
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December 26, 2013, 12:10:24 AM
 #11

it needs to change to mbits of something smaller because its a bit of a mess
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs  $2.50 in  fiat

a whole  bitcoin will soon be out of reach for many people and the decimal point placement
is a bit tricky if we dont start using mbits or ubits etc



The problem of decimals is fixed pretty well via punctuation that for some reason isn't standard (IE: 0.013,275,0 BTC is easier to make sense of than 0.0132750 BTC at a glance). On the other hand, I feel that we should switch to mBTC simply because many people don't initially understand the concept of divisibility. While it can be argued any new user should understand how the currency works, nobody in the general public really gives that much of a hoot and you know it Tongue

undeadbitcoiner
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December 26, 2013, 12:21:10 AM
 #12

I am sure they can never be $50k per 1 bitcoin. It is unbelievable.

50X increase from 1000USD?

Not so unbelievable, it only requires 50X more demand...

Absolutly, We traveled from 3 Cents to 1300$ since late 2008 (Since Satoshi's first Block) its just 5 years and today we are in 1K which is 1000 s times so nothing is hard in bitcoin world,

recent happy news is Btc China got good deposit option

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CoinCidental
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December 26, 2013, 12:37:24 AM
 #13

it needs to change to mbits of something smaller because its a bit of a mess
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs  $2.50 in  fiat

a whole  bitcoin will soon be out of reach for many people and the decimal point placement
is a bit tricky if we dont start using mbits or ubits etc



The problem of decimals is fixed pretty well via punctuation that for some reason isn't standard (IE: 0.013,275,0 BTC is easier to make sense of than 0.0132750 BTC at a glance). On the other hand, I feel that we should switch to mBTC simply because many people don't initially understand the concept of divisibility. While it can be argued any new user should understand how the currency works, nobody in the general public really gives that much of a hoot and you know it Tongue

a $5 sandwich costs 0.00703125 BTC  at current gox rates Smiley (not including the tx fee )

 its going to get worse as coins get more valuable and we have to go further back
past the decimal point to pay  for small  items  

its only a matter of time before coins will have to be sold in fractions as well because buying
a whole coin when the price reaches    $10,000 will be  too expenisve for the average user




cr1776
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December 26, 2013, 12:44:20 AM
 #14

I am sure they can never be $50k per 1 bitcoin. It is unbelievable.

50X increase from 1000USD?

Not so unbelievable, it only requires 50X more demand...

Absolutly, We traveled from 3 Cents to 1300$ since late 2008 (Since Satoshi's first Block) its just 5 years and today we are in 1K which is 1000 s times so nothing is hard in bitcoin world,

recent happy news is Btc China got good deposit option


At the beginning of 2013 people didn't think it would hit $100 let alone $1000. Shoot, dollar parity was even a big deal. 
:-)
undeadbitcoiner
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December 26, 2013, 02:15:06 AM
 #15

I am sure they can never be $50k per 1 bitcoin. It is unbelievable.

50X increase from 1000USD?

Not so unbelievable, it only requires 50X more demand...

Absolutly, We traveled from 3 Cents to 1300$ since late 2008 (Since Satoshi's first Block) its just 5 years and today we are in 1K which is 1000 s times so nothing is hard in bitcoin world,

recent happy news is Btc China got good deposit option


At the beginning of 2013 people didn't think it would hit $100 let alone $1000. Shoot, dollar parity was even a big deal. 
:-)

+1


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black_swan
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December 26, 2013, 02:45:22 AM
 #16

I am on your side my friend all the way to 50k. We went up so much this year and if you look at the current infrastructure is quite poor, imagine if we have proper services, non shady exchanges and mass adoption.
I think BTC can still be used to trade and for large sums, mBTC for every day use, they can coexist

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December 26, 2013, 03:05:36 AM
 #17

it needs to change to mbits of something smaller because its a bit of a mess
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs  $2.50 in  fiat



What fraction of an ounce of gold does the coffee cost? Bitcoin isn't really for day to day transactions. It's a store of value and hopefully a means of global trade. Using mBTC and uBTC with off chain transactions might allow consumer use and even micro payments but those aren't where the really big valuations will come from.
CoinCidental
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December 26, 2013, 04:01:29 AM
 #18

it needs to change to mbits of something smaller because its a bit of a mess
and new users will struggle to equate value of a payment like 0.0035 to buy a coffee that costs  $2.50 in  fiat



What fraction of an ounce of gold does the coffee cost? Bitcoin isn't really for day to day transactions. It's a store of value and hopefully a means of global trade. Using mBTC and uBTC with off chain transactions might allow consumer use and even micro payments but those aren't where the really big valuations will come from.

i think btc has the flexibility to be used for big and small payments ,unlike  a gold bar  btc is  easily divisible ,
as soon as more merchants  start accepting it scanning a qr code from your mobile wallet to pay  0.0035125BTC will
be as simple as using regular cash to buy a coffee

of course its a great store of value as well and "be your own bank" is cool  but i like paying for things in btc whenever i get  the chance to spend some ,more spending and less hoarding will help distribute the btc network more widely too so its a win /win situation as soon as more merchants get on board ,hopefully someone massive like amazon etc Smiley

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December 26, 2013, 04:59:42 AM
 #19

Regulations are as good against bitcoin as sandbags against tsunami.

This needs to be a historic quote for bitcoins, somewhere in a WiKi... Love it.
ISAWHIM
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December 26, 2013, 05:05:12 AM
 #20

its only a matter of time before coins will have to be sold in fractions as well because buying
a whole coin when the price reaches    $10,000 will be  too expenisve for the average user

Why would you HAVE to buy a whole BTC? That isn't a limit or restriction.

You can always buy a $1 worth of bitcoin for a $1, even when BTC reaches $100,000,000.00 per BTC, that would be 0.00000001 BTC. (I believe I did that math right... $1.00/USD * 0.00000001BTC/USD = $100,000,000.00/BTC)

By that time, a dollar will only be worth a penny, and the "Dollar Menu" at McDonalds will be the "Hundred-Dollar Menu". That, or the "0.00000100BTC Menu"...

If you want to feel more rich, you buy LTC or one of the hundred other alt-coins instead. That, or keep using FIAT. But 1 BTC will fit in your pocket easier.
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