Bitcoin will NOT Hit the $10,000 mark this year :(

[wobber]

I don't think bitcoin will reach 10,000. EVER.

Why not.

Too many people will be too rich after speculating.

Too many compared to what? And too rich compared to what? Run some numbers for us.

I understand your need to get numbers. I can only give this example: guy sitting on 10,000 BTC gets 100 MIL USD THAT HE CAN COPY ON A USB STICK. With BTC you can move shitload of money without banks, LEAs etc to know about. That's huge power in hands of one man. You can't get this much power if you have 100 MIL USD in assets or even 100 mil USD CASH.

You'd need a truck to move 100 USD cash.

Or a bank account.

There can only be so many bitcoin thousenaires. Limited supply remember? Also any number of millions is not Rich. Billions maybe, or trillions. A relative handful of new millionaires would not majorly shift the world economy.

Then let's get to 10,000 so any 1 BTC holder can make thousands of times his investment. I've been here since bitcoin was nothing and I was so passionate on speaking and spreading it in the past, that people we're just dumb smiling at me. I really wanted to gain adoption but not to make more wealth for myself but because I was seeing it as an amazing thing.

But now things are different, we want it at 10k so we can make more $$. That's what's killing BTC at it's core. I am deeply saddened that we have still these exchanges and not using bitcoin enough, in the street.

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[Ibian]

I don't think bitcoin will reach 10,000. EVER.

Why not.

Too many people will be too rich after speculating.

Too many compared to what? And too rich compared to what? Run some numbers for us.

I understand your need to get numbers. I can only give this example: guy sitting on 10,000 BTC gets 100 MIL USD THAT HE CAN COPY ON A USB STICK. With BTC you can move shitload of money without banks, LEAs etc to know about. That's huge power in hands of one man. You can't get this much power if you have 100 MIL USD in assets or even 100 mil USD CASH.

You'd need a truck to move 100 USD cash.

Or a bank account.

There can only be so many bitcoin thousenaires. Limited supply remember? Also any number of millions is not Rich. Billions maybe, or trillions. A relative handful of new millionaires would not majorly shift the world economy.

Then let's get to 10,000 so any 1 BTC holder can make thousands of times his investment. I've been here since bitcoin was nothing and I was so passionate on speaking and spreading it in the past, that people we're just dumb smiling at me. I really wanted to gain adoption but not to make more wealth for myself but because I was seeing it as an amazing thing.

But now things are different, we want it at 10k so we can make more $$. That's what's killing BTC at it's core. I am deeply saddened that we have still these exchanges and not using bitcoin enough, in the street.

Greed is the pillar that holds bitcoin up. Without it we would have no protection against a 51% and that would make bitcoin worthless for anything remotely related to the real economy.

[wobber]

I don't think bitcoin will reach 10,000. EVER.

Why not.

Too many people will be too rich after speculating.

Too many compared to what? And too rich compared to what? Run some numbers for us.

I understand your need to get numbers. I can only give this example: guy sitting on 10,000 BTC gets 100 MIL USD THAT HE CAN COPY ON A USB STICK. With BTC you can move shitload of money without banks, LEAs etc to know about. That's huge power in hands of one man. You can't get this much power if you have 100 MIL USD in assets or even 100 mil USD CASH.

You'd need a truck to move 100 USD cash.

Or a bank account.

There can only be so many bitcoin thousenaires. Limited supply remember? Also any number of millions is not Rich. Billions maybe, or trillions. A relative handful of new millionaires would not majorly shift the world economy.

Then let's get to 10,000 so any 1 BTC holder can make thousands of times his investment. I've been here since bitcoin was nothing and I was so passionate on speaking and spreading it in the past, that people we're just dumb smiling at me. I really wanted to gain adoption but not to make more wealth for myself but because I was seeing it as an amazing thing.

But now things are different, we want it at 10k so we can make more $$. That's what's killing BTC at it's core. I am deeply saddened that we have still these exchanges and not using bitcoin enough, in the street.

Greed is the pillar that holds bitcoin up. Without it we would have no protection against a 51% and that would make bitcoin worthless for anything remotely related to the real economy.

I disagree. Greed grinds this economy. Because of it, we deceived ourselves we have 900k coins more than we thought we have (see MtGox). Greed brought this insane price without a solid base of commerce and transactions. Bitcoin is shady. 64% of Americans think it's a scam.

51% protection is almost a joke when we have centralized pools. Also, a decentralized protocol is a big no-no with all exchanges' centralized wallets.

[Cyberlight]

I disagree. Greed grinds this economy.

Haha thats total bullsht, you prefer communism ?

Capitalism = greed.

[Ibian]

I don't think bitcoin will reach 10,000. EVER.

Why not.

Too many people will be too rich after speculating.

Too many compared to what? And too rich compared to what? Run some numbers for us.

I understand your need to get numbers. I can only give this example: guy sitting on 10,000 BTC gets 100 MIL USD THAT HE CAN COPY ON A USB STICK. With BTC you can move shitload of money without banks, LEAs etc to know about. That's huge power in hands of one man. You can't get this much power if you have 100 MIL USD in assets or even 100 mil USD CASH.

You'd need a truck to move 100 USD cash.

Or a bank account.

There can only be so many bitcoin thousenaires. Limited supply remember? Also any number of millions is not Rich. Billions maybe, or trillions. A relative handful of new millionaires would not majorly shift the world economy.

Then let's get to 10,000 so any 1 BTC holder can make thousands of times his investment. I've been here since bitcoin was nothing and I was so passionate on speaking and spreading it in the past, that people we're just dumb smiling at me. I really wanted to gain adoption but not to make more wealth for myself but because I was seeing it as an amazing thing.

But now things are different, we want it at 10k so we can make more $$. That's what's killing BTC at it's core. I am deeply saddened that we have still these exchanges and not using bitcoin enough, in the street.

Greed is the pillar that holds bitcoin up. Without it we would have no protection against a 51% and that would make bitcoin worthless for anything remotely related to the real economy.

I disagree. Greed grinds this economy. Because of it, we deceived ourselves we have 900k coins more than we thought we have (see MtGox). Greed brought this insane price without a solid base of commerce and transactions. Bitcoin is shady. 64% of Americans think it's a scam.

51% protection is almost a joke when we have centralized pools. Also, a decentralized protocol is a big no-no with all exchanges' centralized wallets.

Alright then, let's see your suggestion to avoid miners turning a profit without compromising the security of the network. This should be good.

[sickpig]

It will be below 100$ at the end of the year. Mark my words.

quoted for future reference

[jadescorpio]

I don't think Bitcoin will hit $10,000 mark this year but people believe and will believe in BTC.Trust me!

[syber]

Definitely not happening this year. We got to hit 1k again before that is even a reality.
I'm hoping by to see 1k per coin this year and I will be ecstatic. 2k I'll shit myself and any higher I don't even know what I will do.

[Cassius]

2k I'll shit myself and any higher I don't even know what I will do.

Surely there are plenty of bodily functions left for you to express your surprise?

[syber]

2k I'll shit myself and any higher I don't even know what I will do.

Surely there are plenty of bodily functions left for you to express your surprise?

Easily.

[Sawadekub]

with people like u, yes of course we wont reach 10k this year.. because u said so...

just like this fake news few hours ago

price fall because of fake china ban btc news

http://www.businessweek.com/articles/2014-03-20/btc-chinas-bobby-lee-bitcoin-isnt-really-banned-in-china-and-its-quickly-gaining-ground

READ!!!

http://www.reddit.com/r/Bitcoin/comments/20znt2/the_news_about_china_banning_bitcoin_is_false/

wake up guys!!

[SeaofBTC]

I am surprised how many people have decided it wont happen when we're not even a 3rd through the year yet.

Oracles who can see pretty far out, but seem to be jumping past all the NYC exchanges coming, and the institutional providers coming most likely by year's end.

[podyx]

trendline is about $700 right now, will be $5k in end of year

we reached $1242 when trendline was $300 so $10k definately is possible this year

[LittleD]

looks like instead of 10,000 it will come down to $100,00

[superresistant]

I am surprised how many people have decided it wont happen when we're not even a 3rd through the year yet.
Oracles who can see pretty far out, but seem to be jumping past all the NYC exchanges coming, and the institutional providers coming most likely by year's end.

Exactly. Only a fool would say "Bitcoin will NOT Hit the $10,000 mark this year".

Last year, people where saying Bitcoin was dead when it was going down around $150.
The people who sold everything at $158/159 that day expecting to buy back at $35 lost everything.

[andyatcrux]

My guess is it will hit at least $2400 by November. $10000 is such an often spoke target that many would sell of beforehand to not miss the "top" of the bubble. I would imagine a large correction if we approached 6 or 7 thousand. Things move fast but it is hard to see 10 grand before 2015 at this point. I would not discount the possibility though.

[jubalix]

I don't think bitcoin will reach 10,000. EVER.

Why not.

Too many people will be too rich after speculating.

Too many compared to what? And too rich compared to what? Run some numbers for us.

I understand your need to get numbers. I can only give this example: guy sitting on 10,000 BTC gets 100 MIL USD THAT HE CAN COPY ON A USB STICK. With BTC you can move shitload of money without banks, LEAs etc to know about. That's huge power in hands of one man. You can't get this much power if you have 100 MIL USD in assets or even 100 mil USD CASH.

You'd need a truck to move 100 USD cash.

Or a bank account.

There can only be so many bitcoin thousenaires. Limited supply remember? Also any number of millions is not Rich. Billions maybe, or trillions. A relative handful of new millionaires would not majorly shift the world economy.

Then let's get to 10,000 so any 1 BTC holder can make thousands of times his investment. I've been here since bitcoin was nothing and I was so passionate on speaking and spreading it in the past, that people we're just dumb smiling at me. I really wanted to gain adoption but not to make more wealth for myself but because I was seeing it as an amazing thing.

But now things are different, we want it at 10k so we can make more $$. That's what's killing BTC at it's core. I am deeply saddened that we have still these exchanges and not using bitcoin enough, in the street.

The 10K yes nice for people wanting to make money.

The main reason for 10, 100K and over is it makes the market a lot harder to manipulate and potentially a lot deeper, which is much much more usefull as a means of exchange.

Consider that at 100K you need 500 times the money to move the market compared to now all things being equal. So if I need 100.000$ to move the market a bit, now I need $50.000.000. There are a lot less people/entites and institutions with $50M ready to go to do this than 100.000K. Thus volatility likely decreases.

At the $1 Mill mark, even federal govts such as the US or China would have difficulty coming up with with 10 Billion here or there to influence the market, every day.

The stronger BTC gets the stronger it gets if you see what I mean.

Incidentally this makes a lot of holders wealthy. A lot of central banks/Govs have probably realised this and will do their best to shake out individual BTC holders, as a BTC holder has some similarity to a sovereign central bank, or at least is running their own bank.....that can't be easily shut down.

In some ways, the regulation and tacit "banning" of BTC is good for BTC/CC's as it keeps govs out for longer which gives BTC time to evolve sufficiently.

[jdun]

Wait a minute. I don't like the three choices. I choose "no, not this year", but it is not because there are too many hackers killing the dream.