The $1000 Bitcoin, yes it's worth at least that.

[Its About Sharing]

tcio and caiaphas - I think we are confusing the issue here. First, I really doubt that any bitcoin proponent would say that bitcoin is ready to be a stable currency, for many reasons. But key word is "stable". As you said caiaphas, it is too volatile. But the reasons it is volatile are because it is new, the currency markets all over the world are a mess (as are the bond markets), etc. In a sense bitcoin is reflecting that uncertainty (and there isn't a military behind it.  )

The confusion arises in misplacing our saying whether or not it is ready NOW as a currency/commodity/trade unit, with where it will be once things settle down. It is in the EARLY, very early stages. Think back to the internet when Amazon was $5 a share. That is where we are now. Maybe even more like .20 being that this is a currency and doesn't "split" to allow for growth and liquidity. Our liquidity is in decimal places.

And caiaphas, most merchants dealing with bitcoins immediately trade them for dollars/Euros/etc. and don't hold them as bitcoins. Now, once it does develop into a currency and is stable, relatively so, then that will change. For now, this is a part of the process.

With Bitcoins small float, if it is successful, YOU WILL NEED JUST ONE. Think about what I mean by that.

A thousand dollar valuation when there are only 11 million shares right now is nothing, absolutely nothing. We can't look at it as worth $1000, but rather do the math. There just aren't enough of them to be that "cheap". We will definitely be trading bitcoins in fractions.

Now, at this time there is speculation and that is partially why the price is where it is. But the coming collapse of many global currencies along with what looks like near hyperinflation, means that saying bitcoin is worth $1000 is not really saying much. Once that inflation starts hitting us, then you will see the price explode, but it won't be as meaningful, it will be like the 1920's level inflation in Germany. (e.g. - Coins worth 1DM were then minted to be 500 or more!)

IMS

You're thinking 5 years from now in 2020.

i think I made that clear. But, we really have no idea as the current global financial system is getting closer and closer to breaking. Really hard to predict.

[molecular]

all asics out > high diff > bitcoin over 300$+?

no. difficulty follows price, no the other way around.

[marcus_of_augustus]

all asics out > high diff > bitcoin over 300$+?

no. difficulty follows price, not the other way around.

... it is not just that simple, more nuanced than that ... as vladimir is saying, I think?

[smoothie]

"The Geeks will inherit the earth" have just turned into, "Geeks are the new aristocracy", and this is why:

Who owns BitCoins.. There must be some individuals hoarding a large amount, and I wish I was one them. If BitCoins were universally adopted, a BitCoin may well be worth 10,000$, in fact it would probably be worth a whole lot more. On top of that we would have deflation, due to no more BitCoins being generated, ever, and so the value would increase further. If there are 1 Billion people who may adopt this system, and 21 Million BitCoins, you'd be very fortunate (and rich) to own just a single BitCoin. Owning a single BitCoin may be the equivalent of being a multi millionaire today. Having a whopping 1000 BitCoins would rival Gates in his glory days.

The BitCoin system, is perfect, and perfectly flawed. I think we've just discovered how to turn Freetards into Bankers, our new financial overlords.

I have done my research, and conclusion is, it's gonna crash as soon as one of the Hoarders get's scared, and dumps his BitCoins on the exchange. I love the idea, but it reminds me to much of a time when many of my friends got into these "pyramid schemes" selling various crap. And let me just say, pyramid schemes work, when we all buy into them...

I think I will hold out for the next BitCoin, we can probably just reuse the software, it's open source right , be an early adapter, promoter and make my exit.

Good luck to all you scammers, you don't deserve the money.

Someone sounds butthurt they missed the bitcoin train. lol

[coinnewb]

all asics out > high diff > bitcoin over 300$+?

no. difficulty follows price, not the other way around.

... it is not just that simple, more nuanced than that ... as vladimir is saying, I think?

I think so.  One of the attack vectors against Bitcoin depends on network hash rate (i.e., difficulty), so one could argue that higher difficulty will make potential attacks against the network more costly.  Assuming that the price of Bitcoin factors in this very potential cost, higher difficulty will give room for higher price IMHO.

[ThatDGuy]

"The Geeks will inherit the earth" have just turned into, "Geeks are the new aristocracy", and this is why:

Who owns BitCoins.. There must be some individuals hoarding a large amount, and I wish I was one them. If BitCoins were universally adopted, a BitCoin may well be worth 10,000$, in fact it would probably be worth a whole lot more. On top of that we would have deflation, due to no more BitCoins being generated, ever, and so the value would increase further. If there are 1 Billion people who may adopt this system, and 21 Million BitCoins, you'd be very fortunate (and rich) to own just a single BitCoin. Owning a single BitCoin may be the equivalent of being a multi millionaire today. Having a whopping 1000 BitCoins would rival Gates in his glory days.

The BitCoin system, is perfect, and perfectly flawed. I think we've just discovered how to turn Freetards into Bankers, our new financial overlords.

I have done my research, and conclusion is, it's gonna crash as soon as one of the Hoarders get's scared, and dumps his BitCoins on the exchange. I love the idea, but it reminds me to much of a time when many of my friends got into these "pyramid schemes" selling various crap. And let me just say, pyramid schemes work, when we all buy into them...

I think I will hold out for the next BitCoin, we can probably just reuse the software, it's open source right , be an early adapter, promoter and make my exit.

Good luck to all you scammers, you don't deserve the money.

Someone sounds butthurt they missed the bitcoin train. lol

Damn, no kidding! That guy definitely burned out instead of fading away!:

Date Registered:    May 14, 2011, 09:18:54 AM
Last Active:    May 17, 2011, 10:50:33 AM

Here are his last words to all of us:

...
OMFG, can you hear yourselves. Hypocrites, hypocrites, hypocrites!!!

I'd like to hear at least some of you admit that you're a greedy mofo in it only for it's speculative value and that you don't give a shit about the rest.
Amen

[lophie]

Who revived this mummy?  , But seriously, Bitcoin added so much value in my life ever since I was first introduced to the idea back in 2011, You have to actually put some effort into understanding Bitcoin in order to appreciate it otherwise either you are a blind speculator or a retarded flamer.

[freedomno1]

Who revived this mummy?  , But seriously, Bitcoin added so much value in my life ever since I was first introduced to the idea back in 2011, You have to actually put some effort into understanding Bitcoin in order to appreciate it otherwise either you are a blind speculator or a retarded flamer.

This thread is quite old I sort of revived it a while back and now it necro revives now and then  
That and smoothie probally wanted to necro own someone haha
Usually reappears when there are a lot of bears around saying bitcoin is doomed lol and or some bulls on the other end
That's why that quote is mummy tastic thread is old
My original intent was to illustrate a point when the bubble crashed from 220 to 100 and some in change and say that people were complaining at $8 bucks when there was another crash
Man have we come far hehe
That an the original conversation was quite interesting in 2013 time

[BittBurger]

i enjoyed it.   its a good read.

And you're right.   5 years from now it will be interesting to see where this thread led to ...

[vintagetrex]

Yes those amazing investments from Zimbabwe are going to push BTC through the roof!!!

jk lol

Invest in innovation, invest in the world's first cryptographic corporation: Anarcorp

[freedomno1]

i enjoyed it.   its a good read.

And you're right.   5 years from now it will be interesting to see where this thread led to ...

Maybe an archive like the Pizza for Bitcoins XD

[Taras]

So how much longer until the first bitcoin that sells for $1,000 makes the press?
Place your bets, grab your popcorn...

[tclo]

yes chart is looking very strong..could be another mini bubble but won't drop to 65 after this one. 

I guess the volatility is here to stay but BTC has a bright future and we may see $1000 in the next couple of years...or sooner, who knows.  A major currency crisis somewhere would obviously supercharge it.

[ronimacarroni]

I dont think bitcoins is worth $1000
Right now bitcoin is good for store value and speculation, but as a currency is a has a long way to go.
I want to see more bit signs on those price tags.

[elor70]

It will be worth 1000$ somewhere in the future

[Dorrace]

readıng thıs at the fırst 1-2 pages realızıng the date ıt was posted ın early 2011. holy fuck

[frente]

It will be worth 1000$ somewhere in the future

I think there's 60% chance that it will touch $1000 in 2014 and 99% in 2015.

[Dorrace]

It will be worth 1000$ somewhere in the future

I think there's 60% chance that it will touch $1000 in 2014 and 99% in 2015.

well thınk about how the coın jumped up ın the last 2 years. ıf you look at prıce averages over the last 6 months ıt has rısen a bıt. that 200 dollar was a bıg spıke but ıt stabılısed . perhaps ıt really can

[DyslexicZombei]

Which is a 60% greater chance? BTC at oh $5 or BTC at $1K in 2014-2015?  

As a network engineer and an amateur futurist I think we'll see someone or some group ship low cost, self-powered pop up mesh networks by then as Moore's Law continues to take effect on IT hardware costs & demand for high speed wireless in non-traditional areas surges all over the world. I'll let you imagine a worldwide invisible mesh network that is best utilized via a non-centralized crytocurrency or set of cryptocurrencies (to the point where spell checkers quit flagging both of these terms!)

Nice find BTW! Way to mine the archives. 

[Dorrace]

Which is a 60% greater chance? BTC at oh $5 or BTC at $1K in 2014-2015?  

As a network engineer and an amateur futurist I think we'll see someone or some group ship low cost, self-powered pop up mesh networks by then as Moore's Law continues to take effect on IT hardware costs & demand for high speed wireless in non-traditional areas surges all over the world. I'll let you imagine a worldwide invisible mesh network that is best utilized via a non-centralized crytocurrency or set of cryptocurrencies (to the point where spell checkers quit flagging both of these terms!)

Nice find BTW! Way to mine the archives. 

ıts a gamble you dont know exctly whıch way ıt wıll swıng because yes there ıs a chance ıt can drop down to 5 bucks and yes there ıs a chance ıt can go up to 1,000 but the 5 bucks ıs a bıt more belıevable sınce we have seen ıt there before, people seem to have a harder tıme tryıng to belıeve somethıng they have not seen before but ı dont blame them.


but consıderıng network dıffıculty rıses and bıtcoın ıs beıng more wıdely accepted now though ı prefer ıt a method of hoardıng my moneys.