Bitcoin at $1000?

[robresno]

I feel like BTC at $8000 is still overpriced. Due to high fees and slow confirmations, it's not really suitable for payments. SegWit seem like just a hack to me. I know we are all Bitcoin optimists here at the forum but is anyone thinking that Bicoin is gonna go down to $1000 level in the next 5 years?

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[Daniel91]

I feel like BTC at $8000 is still overpriced. Due to high fees and slow confirmations, it's not really suitable for payments. SegWit seem like just a hack to me. I know we are all Bitcoin optimists here at the forum but is anyone thinking that Bicoin is gonna go down to $1000 level in the next 5 years?

I think that the most people here don't use bitcoin for buying something, some product, service etc.
We mostly see bitcoin as investment and just collet bitcoin funds and hold, with hope that bitcoin price wil continue to grow.
Nobody can predict future so in 5 years bitcoin can have value of $ 1000 but also $100 000.
Everything depends on supply sand demand.

[MrRiuss]

yeahhhhhhhhhhh, i hope it will go there $1000, so every body will panic and sell it. 

[Tytanowy Janusz]

I feel like BTC at $8000 is still overpriced. Due to high fees and slow confirmations, it's not really suitable for payments. SegWit seem like just a hack to me. I know we are all Bitcoin optimists here at the forum but is anyone thinking that Bicoin is gonna go down to $1000 level in the next 5 years?

Bitcoin is like gold in cryptocurrency world. It dont need to be used for everyday transactions to be worth a lot of money. Like gold in real world. You dont use it for everyday transactions but you will love to store your fiat money there during crysis. Lots of people have gold contract or even real gold hidden in "earthbank" to be out of fiat with part of their capital. Its safer because you dont know when hyperinflation hits your cash. You dont know when government decite to grab your money located in bank (like in Cypr)

bitcoins value is also inside biggest decentralization. No crypto is as decetralized as bitcoin is. What makes it the safest.

It can hit 1000$ but when it does it will be so easy to pump that sin will be not to pump it. It will be waste of potential earnings for whales.

Bitcoin will be like gold but easier to transfer. It can be store of walue for whales. You can store there 10 bil and hide papewallet (or just remeber key sentance) and its safer than gold in "earthbank".

[@rt27]

yeahhhhhhhhhhh, i hope it will go there $1000, so every body will panic and sell it. 

I hope so in order to avail mine. That would be great time to buy bitcoin and I expecte stamped will happen due to tremendous demands of the people from different places in the world. Maybe the system will not contains the flow of transactions. 

[batang_bitcoin]

I feel like BTC at $8000 is still overpriced. Due to high fees and slow confirmations, it's not really suitable for payments.

Please stop this kind of statement that bitcoin is slow and high in fees. You're still not moving on from the Decembers situation, everything has changed and set to lower fees now and the speed isn't a problem anymore.

SegWit seem like just a hack to me.

Prove it on why you think segmit is only a hack to you.

I know we are all Bitcoin optimists here at the forum but is anyone thinking that Bicoin is gonna go down to $1000 level in the next 5 years?

An optimistic mind won't even give that price of bitcoin in the next 5 years. Add more zeros to it.

[mk4]

I feel like BTC at $8000 is still overpriced. Due to high fees and slow confirmations, it's not really suitable for payments.

What kind of bitcoin are you actually using? Bitcoin transactions has been cheap and fast for months already. I swear the people complaining about the transaction fees and price are the ones who doesn't actually transact with bitcoin smh.

[vibingpositively]

Maybe this year? Even then the chances of that happening seem relatively slim to me. I think we are more likely to hit $100,000 than $1,000 this year but I don't think we will hit either any and give both less than 1% chance.

[arakate93]

I think the value of bitcoin will be higher than year to year, as more and more traders prefer to transact in the crypto world, so to descend to $ 1000 may be a bit impossible, but nothing is impossible

[Tipsters]

I feel like BTC at $8000 is still overpriced. Due to high fees and slow confirmations, it's not really suitable for payments. SegWit seem like just a hack to me. I know we are all Bitcoin optimists here at the forum but is anyone thinking that Bicoin is gonna go down to $1000 level in the next 5 years?

This is the most negative post I have read today. Bitcoin will be so resistant whenever it will fall down below 5k. It is because bitcoin is still the best cryptocurrency out there and many people support bitcoin. To that end, no one can still fully predict the future and we can only watch from our quiet rooms patiently.  

[Tytanowy Janusz]

I feel like BTC at $8000 is still overpriced. Due to high fees and slow confirmations, it's not really suitable for payments.

Please stop this kind of statement that bitcoin is slow and high in fees. You're still not moving on from the Decembers situation, everything has changed and set to lower fees now and the speed isn't a problem anymore.

I totaly agree with you about lower fees and confirmation time. This chart shows it great:

https://blockchain.info/charts/transaction-fees-usd
From peak of 22 mil$ and average of 8mil $ in december daily to 200k $ daily now.

But number of transactions per day decrised too :

https://blockchain.info/pl/charts/n-transactions


To enable bitcoin to be use in everyday trades we need not 200 000 transactions like now but close to 150 mil like visa can "in 2016 that VisaNet processes an average of 150 million transaction each day". We are not even close. Thats why in my opinion bitcoin value is like i wrote above. GOLD in CRYPTOWORLD. Not everyday cash to spend in store. Maybe in next years it would change but not fast.

[virendarnagpal]

 

I feel like BTC at $8000 is still overpriced. Due to high fees and slow confirmations, it's not really suitable for payments. SegWit seem like just a hack to me. I know we are all Bitcoin optimists here at the forum but is anyone thinking that Bicoin is gonna go down to $1000 level in the next 5 years?

  Good dream.  Was it day time or at night?  
Whenever the price touches your dream line; I am planning to invest in it heavily.  But alas it will never come true.  As per my information There is some mining cost also below which we shall not expect the price of bitcoin.

[Iconic Love]

If 1 bitcoin is 1000 dollar its a matter of sororrow because before somedays it had a high rate and people alslso invest money to buy bitcoin but if the price became less then thhey will a face a big lose..and also the  people are holdimg bitcoin to make some good profit. they will face a critical moment also...
bcz some people take bitcoin as there...profession..so it can effect on their  personal life...
i wish its price may increase quickly.

[batang_bitcoin]

I feel like BTC at $8000 is still overpriced. Due to high fees and slow confirmations, it's not really suitable for payments.

Please stop this kind of statement that bitcoin is slow and high in fees. You're still not moving on from the Decembers situation, everything has changed and set to lower fees now and the speed isn't a problem anymore.

I totaly agree with you about lower fees and confirmation time. This chart shows it great:

https://blockchain.info/charts/transaction-fees-usd
From peak of 22 mil$ and average of 8mil $ in december daily to 200k $ daily now.

But number of transactions per day decrised too :

https://blockchain.info/pl/charts/n-transactions


To enable bitcoin to be use in everyday trades we need not 200 000 transactions like now but close to 150 mil like visa can "in 2016 that VisaNet processes an average of 150 million transaction each day". We are not even close. Thats why in my opinion bitcoin value is like i wrote above. GOLD in CRYPTOWORLD. Not everyday cash to spend in store. Maybe in next years it would change but not fast.

Before the transactions are vast and its reported to be an attack spam to the network that ended up to make the fees higher. But it's clear that there's no more attack and the fees are not that high. You can transact $1,000 for a very low fee of $0.01- $0.05 so I really don't think that there's a need to worry about the fee.
These people wants to spread FUD in the forum to pull some investors getting out due to their statements. Are they using a sort of version 2 of bitcoin that makes the price higher?  

[Tytanowy Janusz]

I feel like BTC at $8000 is still overpriced. Due to high fees and slow confirmations, it's not really suitable for payments. SegWit seem like just a hack to me. I know we are all Bitcoin optimists here at the forum but is anyone thinking that Bicoin is gonna go down to $1000 level in the next 5 years?

  Good dream.  Was it day time or at night?  
Whenever the price touches your dream line; I am planning to invest in it heavily.  But alas it will never come true.  As per my information There is some mining cost also below which we shall not expect the price of bitcoin.

If price will go lower, mining cost will make minners to quit what will make other miners earn more on each block mined (mining will be profitable at lower prices) Thats why it was profitable to mine bitcoin when it was 1 cent and lower..... That not the problem for bitcoin to jump throught this price.

[renes]

Bitcoin is not overpriced right now, and $1000 is not realistic just as $20.000 is not realistic in the short term due to market conditions, but as bitcoin is the best alternative to fiat money I think it has some value that can't be explained by money.

[arkawa040]

I think the value of bitcoin will be higher than year to year, as more and more traders prefer to transact in the crypto world, so to descend to $ 1000 may be a bit impossible, but nothing is impossible

if all the money is stored in the crypto currency, it will be an economic crisis, traders earn and will earn, but the world needs classic types of business such as plants, factories and fields, everything must be in harmony! therefore, BTC will find its average value and will be more stable!

[Reid]

Slow?
High transaction fees? Huh?
Is this post created in November and just recently clicked the "post" button?
Cmon, stop the FUD just because price of bitcoin is in bear mode.
You might need to do some other work instead of just doing this. I recently got 2k satoshis of transaction fee and it took just minutes. Your saying high fees? Are you that cheap?

[Tytanowy Janusz]

Slow?
High transaction fees? Huh?
Is this post created in November and just recently clicked the "post" button?
Cmon, stop the FUD just because price of bitcoin is in bear mode.
You might need to do some other work instead of just doing this. I recently got 2k satoshis of transaction fee and it took just minutes. Your saying high fees? Are you that cheap?

OP is not cheap. He is talking about bitcoin to be used for everyday transactions (not once a month from wallet to exchange). With 150+mil transaction daiy like visa have. Not 200k+ like bitcoin have now. With that amount of transactions fee will cost hundreds of dolars to confrim transaction in 1 day. In december we have 2-3 times more transactions daily than today. We need 1 000 times more...

[robresno]

It seems to me that most people who replied here assumed that cryptoworld is going to stay the same as it is now for the next 5-10 years. I'm thinking about the big players stepping in and totally crushing bitcoin - making it useless. What if Facebook introduced a Facecoin and overnight 2 billion people would have an instant wallet on their phones with Facecoin that would have $0.05 fees and 30 second confirmations. What if amazon comes up with Amazcoin, and all amazon customers now have wallets and it's super easy to use. Would Bitcoin survive as a storage of value? Why would anyone even need it? I see Bitcoin as Myspace. Creating an industry, and super popular at some point, but where is it now? I'm not negative, just playing devil's advocate, and skeptic when hearing people say BTC is going to 100k.