Bitcoin will hit $10,000 in 2014

[kireinaha]

Not a chance in hell. Bernie Madeoff has a better chance of earning a presidential pardon than bitcoin hitting $2,000 this year.

How high is it going to get this year? I need to know how much to invest.

Schizophrenia playing up today?

I like to think it out from both angles, that way I don't get my expectations up too high 

[mestar]

If the twins open their Bitcoin ETF I can promise you that more than $36M will be purchased every day. There are a lot of dollars out there.

There is no limit in how much energy can the Bitcoin network use.  And there is a nice linear relationship between its price and its energy usage.

More speculation will not help things, it will only make it worse.  The only possible long term stable state is where the energy used is the same as the amount of "value created" by the network.  Inflows of speculating cash do not create value.  What does create value is enabling financial transactions to be cheaper than before, or even where they were not possible before.  Speculating actually hurts that goal.

[adamstgBit]

If the twins open their Bitcoin ETF I can promise you that more than $36M will be purchased every day. There are a lot of dollars out there.

There is no limit in how much energy can the Bitcoin network use.  And there is a nice linear relationship between its price and its energy usage.

More speculation will not help things, it will only make it worse.  The only possible long term stable state is where the energy used is the same as the amount of "value created" by the network.  Inflows of speculating cash do not create value.  What does create value is enabling financial transactions to be cheaper than before, or even where they were not possible before.  Speculating actually hurts that goal.

Speculation give this "value" a dollar price.

its kinda necessary...

[notig]

A higher price does make things cheaper. THe reason is because with deeper markets it means that there is less spread between the bid/ask and there is more volume. If you are transferring larger amounts of money you lose less money on the spread between bid and ask and for smaller transactions its even less.  The spread on gold prices for instance which have very deep markets is less than a half of a percent. That spread is a real cost for things like remittance and just buying bitcoin and turning around and purchasing things with it. Also typically the higher the price is it means the bitcoin ecosystem is larger and since it is still a free market that means more competition between exchanges and ATM's for lower fees.

In essence a higher price means bitcoin is more useful so people who say that the price doesn't matter are wrong.

[Valerian77]

Probably there are good chances:

[Kungfucheez]

Cool, so, who wants to buy my 1 btc for $10,000 to get this trend started?

[OgNasty]

I think a $600-$4,000 trading range isn't an unreasonable prediction.

[wobber]

Bitcoin can't hit more than 2000 because there are too many bitcoin hoarded (not hoarders). Simply put, going to 10,000, will make some people that own 10k to have more than 100 million dollars overnight. And the FBI to have 1.4 bln. USD. Do you want that? Because I don't.

[Wilhelm]

Bitcoin block value will soon be halved that will make the price jump

[600watt]

Bitcoin can't hit more than 2000 because there are too many bitcoin hoarded (not hoarders). Simply put, going to 10,000, will make some people that own 10k to have more than 100 million dollars overnight. And the FBI to have 1.4 bln. USD. Do you want that? Because I don't.

they get 8 billion every year.

i don´t think an additional 1.4 billion will make such a difference.

http://www.fbi.gov/news/testimony/fbi-budget-for-fiscal-year-2012

[pasikisu]

Of course it's going to continue its 1000% raise every year. Can't you look at graphs? It's basically a fact! $1M by the end of 2016!!11 Whoo!

These threads and the mass hysteria/panic ones when there's a 10% dip in value are quite hilarious to read, thanks.

[Dalmar]

IMO, it just all sounds too good to be true.. it would make me a millionaire, which I find laughable. If it was this predictable/reliable Wall Street would have already been all over it. The previous rises were just easy as fuck, but future significant rises from now require institutional and collective average joe money.
2014 might be an ultra-bear year for all we know. Perhaps it is much needed in order to get rid of the cult-like greedy fanboys and give the developers some room to work without the wrong incentives.

[piramida]

IMO, it just all sounds too good to be true.. it would make me a millionaire, which I find laughable.

you can be only as rich as you allow yourself to be. i.e., if you find an idea of you being a millionaire laughable, you will not be, because you will chicken out once the price goes to 2000 and sell off

[BitchicksHusband]

IMO, it just all sounds too good to be true.. it would make me a millionaire, which I find laughable. If it was this predictable/reliable Wall Street would have already been all over it. The previous rises were just easy as fuck, but future significant rises from now require institutional and collective average joe money.
2014 might be an ultra-bear year for all we know. Perhaps it is much needed in order to get rid of the cult-like greedy fanboys and give the developers some room to work without the wrong incentives.

These types of investments are how most millionaires became millionaires.

[cr1776]

When things like Japan and Argentina become more common (plus the bail-ins etc), people will be looking for ways to protect themselves.  Gold, other PMs, probably bitcoin for some people, will become valuable stores of wealth.  People who are smart are now putting some of their assets in these before it is more difficult.  Think about if Argentinians had done so 2 years ago, they would be protected from the policies of madmen (madwomen).

Gold and PMs *can* be good, but if you wanted to take wealth out of Argentina today, bitcoin would be the best option.

Japan plans to raid dormant bank accounts to raise new revenue
Government resurrects proposal to help pay for welfare and education projects as the indebted country struggles to find new revenue

http://www.scmp.com/news/asia/article/1410614/japan-plans-raid-dormant-bank-accounts-raise-new-revenue

===========

Argentina restricts online shopping as foreign reserves drop
http://www.bbc.co.uk/news/world-latin-america-25836208

[kakobrekla]

Shut up and put up.

[dave00]

*ahem* google 

[daneldanny]

Bitcoin block value will soon be halved that will make the price jump

doesn't look like that's happening for another 2 years according to http://bitcoinclock.com/

[billyjoeallen]

Bitcoin needs multi-level marketers the way Vin Diesel needs a haircut. Bitcoin was created to cut out the middleman and now you think introducing a dozen or more middlemen will make it better? You've been smoking too much herbalife.

[wobber]

Can't see any sign of 10,000. Or of 5000. Or of 2500. OR OF 1250.

Not going to happen. 2014 will be a slow year for bitcoin with price of 500-1100.