Say BTC hits $10,000 each in 2014 (or 12 x for the year)

[zimmah]

Tenfold increase every year until semi-saturation. That's when half the people you know are using it. Enjoy the ride.

Or it becomes the myspace of cryptocurrencies.  

it won't, myspace wasn't a protocol, you can't compare myspace with bitcoin.

you should compare it with TCP/IP, http, UDP, FTP, etc.

[jubalix]

Tenfold increase every year until semi-saturation. That's when half the people you know are using it. Enjoy the ride.

Or it becomes the myspace of cryptocurrencies.  

it won't, myspace wasn't a protocol, you can't compare myspace with bitcoin.

you should compare it with TCP/IP, http, UDP, FTP, etc.

it might, eg pow very energy consuming vs nxt, emunie or peerCoin.

also much less features.

Also myspace was a protocol, being a form of information arrangement for receiving and responding to

[piramida]

If you believe Bitcoin will reach $10,000 by 2016 drop a few mBTC here and double your investment when it does:
http://betsofbitco.in/item?id=1532

Lol. What? You mean instead of keeping your bitcoin and making a 12 fold increase if it does?

Much better odds and shorter timeframe here: http://bitbet.us/bet/635/1btc-10-000-usd/

Go on everybody bet on NO because it never could reach that next year right bears?

[Ibian]

If you believe Bitcoin will reach $10,000 by 2016 drop a few mBTC here and double your investment when it does:
http://betsofbitco.in/item?id=1532

Lol. What? You mean instead of keeping your bitcoin and making a 12 fold increase if it does?

Much better odds and shorter timeframe here: http://bitbet.us/bet/635/1btc-10-000-usd/

Go on everybody bet on NO because it never could reach that next year right bears?

Really wish I could afford to bet more than 1 btc. Still, a free 13k is nice.

[zimmah]

Tenfold increase every year until semi-saturation. That's when half the people you know are using it. Enjoy the ride.

Or it becomes the myspace of cryptocurrencies.  

it won't, myspace wasn't a protocol, you can't compare myspace with bitcoin.

you should compare it with TCP/IP, http, UDP, FTP, etc.

it might, eg pow very energy consuming vs nxt, emunie or peerCoin.

also much less features.

Also myspace was a protocol, being a form of information arrangement for receiving and responding to

if as many people would use peercoin are any other trashcoin they would need more energy than bitcoin would. Bitcoin (or any SHA256 coin) has highly energy-efficient ASIC miners, and no other coin as ASICs yet (and some are even designed not to allow ASICs, or not have nearly as efficient ASICs, as a 'feature') However ASICs by design are more energy efficient.

a faster confirmation time does not mean that the transactions go faster, as you'd need more confirmations to get the same 'safety' so that's just a joke. Having 'more coins' is also a joke because of infinite divisibility.

Any features that bitcoin doesn't have and altcoins do have can easily by added to the bitcoin protocol. It's easier to upgrade the protocol of bitcoin than it is to migrate millions of bitcoin users, industries, merchant and miners to accept trashcoin 2.3. And once Trashcoin 4.2 comes out they'll have to migrate all over again. It's just not going to happen.

Why did people migrate from myspace to facebook? simply, because they didn't have anything to lose from switching to facebook. But there's much more on the line when switching from bitcoin. Also, the network effect is exactly what caused the collapse of myspace. A lot of people were using facebook, and since a social network is not really much use without friends, they were forced to either join facebook or be left in a social desert.

The same is basically true for bitcoin and trashcoins and money in general. If tomorrow everyone would decide they no longer want to use dollars, the dollar would become worthless. Currency only holds value because you can buy stuff from it from other people. If enough people accept a currency than that currency has value. So, the more people that recognize any currency, including bitcoin or trashcoin or fiat, the more value the currency has.

Since bitcoin has the biggest network, and there's no altcoin that can do things that bitcoin can't do, bitcoin will stay. And the longer bitcoin is in this position the stronger the network effect gets, and the harder it will be to dethrone bitcoin.

[imbladednow]

Say BTC hits $10,000 each in 2014 (or 12 x for the year)

What are the chances that it will still have room to grow in 2015 or 2016 by 10-25x? Meaning 10k to 100k in 2015 and 100k to 1 Million in 2016?

Bitcoin is far from mainstream, Bitcoin will find its price when it cannot grow in userbase anymore. 2016 seems too early for me, but I dont think 10x yearly price increase is sustainable

[BitChick]

Say BTC hits $10,000 each in 2014 (or 12 x for the year)

What are the chances that it will still have room to grow in 2015 or 2016 by 10-25x? Meaning 10k to 100k in 2015 and 100k to 1 Million in 2016?

Bitcoin is far from mainstream, Bitcoin will find its price when it cannot grow in userbase anymore. 2016 seems too early for me, but I dont think 10x yearly price increase is sustainable

Are we forgetting about mBTC?  The price at some point will no longer be displayed for just 1 BTC.  Then the process will start all over.  People will be excited to pay $10 for 1 mBTC.  The price will rise to $100 per mBTC then $1000 and so on.  People will be thrilled with the returns on their investments even at these stages.  I do not see why it is not sustainable?

[piramida]

Really wish I could afford to bet more than 1 btc. Still, a free 13k is nice.

I'm not sure we will hit that in 2014, but we might, so I bet yes, the ratio is good. Although I would expect all the naysayers jumping in for the free money, don't see much of that. Lots of talk, little walk. Cmon bears, outrageous price prediction, I even counted the digits for you - it's 5 - by end of 2014! Not going to happen right?

[Dragonkiller]

even if you think it will hit $10,000 in 2014 (which I am hoping for, but maybe not so soon), you might want to bet against that happening as a hedge...

[Ibian]

even if you think it will hit $10,000 in 2014 (which I am hoping for, but maybe not so soon), you might want to bet against that happening as a hedge...

For me it's a much simpler question: How sure of my own ability to analyze the tech, the economy and politics am I? I have to put my money where my mouth is, for my own sake. Would be really nice if the bears did the same, but what can you expect.

[MAbtc]

I have to put my money where my mouth is, for my own sake. Would be really nice if the bears did the same, but what can you expect.

What does this mean, exactly?

[Ibian]

The bear part? There are a couple bets running over at bitbet and BEARS ARE NOT BETTING  . If it's the other part, then exactly what it says. This whole thing is pointless if you are not willing to trust yourself.

[jubalix]

Tenfold increase every year until semi-saturation. That's when half the people you know are using it. Enjoy the ride.

Or it becomes the myspace of cryptocurrencies.  

it won't, myspace wasn't a protocol, you can't compare myspace with bitcoin.

you should compare it with TCP/IP, http, UDP, FTP, etc.

it might, eg pow very energy consuming vs nxt, emunie or peerCoin.

also much less features.

Also myspace was a protocol, being a form of information arrangement for receiving and responding to

if as many people would use peercoin are any other trashcoin they would need more energy than bitcoin would. Bitcoin (or any SHA256 coin) has highly energy-efficient ASIC miners, and no other coin as ASICs yet (and some are even designed not to allow ASICs, or not have nearly as efficient ASICs, as a 'feature') However ASICs by design are more energy efficient.


everyone on peercoin of NXT / Emunie would be much less power, they just run on your laptop, pos if fundamentally different to asic/POW you seem to be confusing security of confirmation and speed with the question of efficiency