Analysis Bitcoin

Will Bitcoin price reach $1 Million U.S. Dollars?

Guest Author | December 10, 2015 | 3:47 pm
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Analysis

Will Bitcoin price reach $1 Million U.S. Dollars?

Guest Author | December 10, 2015 | 3:47 pm

Bitcoin’s price versus the US dollar is the most searched keyword for Bitcoin, along with “What is Bitcoin?” The Bitcoin price is important under many circumstances, primarily exchange rates with any fiat currency, which are based on US dollar rates to some extent.

Now that Bitcoin’s price has more than doubled since January, the Bitcoin trolls and haters are noticeably silent this holiday season (funny how that works). Now that the good times are rolling, again–for Bitcoin as a global currency and an exchange of value–how far can this go? What is the ceiling for “the future of money”?

Some in the mainstream have actually been beating the drum in favor of Bitcoin as a long-term investment. Henry Blodget of Business Insider used Bitcoin’s peaking value (back during the Mt. Gox bubble in the fall of 2013), to pontificate a $1 million value down the road. That article received over 100k views, at a time when Bitcoin couldn’t have been more exciting to the mainstream, leaping from $125 USD to over $1000 USD in one fiscal quarter.

Recently, The Street took Bitcoin blogger Datavetaren’s word in a recent interview that not only will Bitcoin reach $1 million USD in value, but it will replace gold as the economic “safe haven” of choice. In a Bitcoin bull market, are we just taking a trip to Fantasy Island, or is there real digital gold in these economic graphs, long-term?

If you look at Bitcoin from all sides, it is hard to come up with a failing conclusion, if you go out far enough. As Nick Cary tweeted this morning, Bitcoin daily transactions are setting records this holiday season, passing 100k per day, so demand and usage are at all-time highs. As Bitcoin price continues to increase, the mainstream media struggles to castigate the digital currency.

Bitcoin will undergo a halving next July, dropping production to 12.5 BTC every ten minutes, which certainly won’t hurt Bitcoin’s price in the long run. This may cause miners to sell more Bitcoin holdings to maintain operations in the short-term, so there will be attrition at play. This can act as a counterbalance to the natural appreciation, at least for awhile–don’t expect BTC values to double by next fall, but I would be bullish over time on Bitcoin values. When demand, which is increasing steadily, swamps supply, prices rise over time.

A factor no one talks about is the long-term value of the “global reserve currency,” the dollar itself. The US government will tell you inflation is a mere 2% at worst, and many times, they’ll even say there is no inflation at all if you let them. Anyone who has bought a car, a pound of beef, or a bitcoin for that matter will tell you otherwise. Real-world inflation–not the contrived and manipulated CPI–is more like 5% per annum, not 2% or less.

Many experts are also forecasting the end of the U.S. dollar’s run as the global reserve currency by the end this decade. Superpowers like Russia and China are working night and day to upset the global economic dollar-based shopping cart. The AIIB (Asian Infrastructure Investment Bank) and the BRICS (Brazil/Russia/India/China/South Africa) have created a we-hate-the-dollar investment bank, and new Silk Road construction from China, through Russia, into Eastern Europe are all signs of a geopolitical economic shift for the ages.

In an environment where the U.S. is $18 trillion in debt, where non-dollar denominated bilateral trade agreements are the norm and countries worldwide are using the Chinese yuan for global exchange, the US dollar is on the clock. It’s not a matter of if, but when there is a changing of the guard. The dollar has lost over 97% of its value over the last century, and why wouldn’t that model of consistent economic debasement continue?

Bitcoin’s value is being rated against a depreciating paper asset with a bad heart. We all do this by default, but I could write 3000 words on why a bitcoin is more valuable than a dollar, and the market agrees, obviously. In the end, the question may not be how many dollars a bitcoin is worth–every fiat currency known to man has collapsed, and the U.S. Dollar will be no different. Its final destination will change the future of money even more than Bitcoin will.

I have no doubt a Bitcoin will be worth $1 million USD, not so much because of the strength of Bitcoin as a global currency, but because of the inherent weaknesses in the US dollar going forward. Global support and confidence in the dollar is fading while Bitcoin continues to rise. “The Third World” hasn’t even grasped the value of Bitcoin yet.

The billions of dollars invested is still 1-2 years from bearing fruit, making Bitcoin easier and more capable to use, worldwide. Bitcoin has proven its mettle, and it’s still in the foundation-building stage of its development arc. It may take a decade, but Bitcoin value is not something worth worrying about, over the long run.

The only real question is: will your investment be there when it does?

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  • Mario Sirna

    Ahahha! That’s a good one! Ahahah … still with this 1 milion usd/btc story… come on… stop it

    • Benjamin Torres

      He is not giving a time frame, may be it take 20-100 years maybe more but one day it will reach that amount.

      • Alvin Williams

        In 20 to 100 years when bitcoin reaches the 1 million dollar price tag
        A million dollars be the equivalent to a thousand today.

        • Brian Brah

          You are ignorant the purchasing power of a million dollars will remain the same if bitcoin reaches that which it will easily. 21 million bitcoins and 7+ billion people so do the math u twat.

          • running out of news

            What if the network gets hacked and your prediction of 1 mil go to Zero overnight?

          • sukramko

            ” Hacked ” which network? The FIAT or bitcoin with Hash Rate of 707,457,006 GH/s.
            U twat.

          • running out of news

            Inflation occers in two different way. Your value of the current goes down or the curreny stays the same and prices go UP. A GREAT example is Greece, since they are on the EU…the Euro is relativity stick… The laws of economics are not stupid. Prices in Greece has gone UP even though the currency has stayed the say (relatively, i followed the usd/EU rates closely for work, i know its gone down). So your statement is completely false. You also are NOT considering sell side pressure from increasing prices.

          • Alvin Williams

            You’ll probably figure it in October 2016 when the Chinese yuan is accepted by the IMF and your entire wealth if any gets reduced by 50 percent. Learn to read and you won’t be as ignorant as you are at this very moment.

          • Brian Brah

            You’re the ignorant one bitcoin is a far better investment than you know possible. Already doubled my money in a few months bought in at $220

          • sukramko

            Brian, your example does not validate bitcoin only your pride. And Alvin IMF is already accepted by Asian countries. And yes it already impacts international markets but China would not want USD purchase power to fall 50% till they get rid of their USD IOU’s on american soil. 😉

          • gregory kessler

            awesome

          • Brian Brah

            Haha I forgot about these posts blast from the past for sure any ignorant people I argued with 2 years ago are now kicking themselves for not investing in btc.

          • sukramko

            46k per bitcoin in today’s cash volume.

        • running out of news

          20-100 years is a large range…. FED mandates 2% inflation per year

        • sukramko

          “In 20 to 100 years when bitcoin reaches the 1 million dollar price tag
          A million dollars be the equivalent to a thousand today.”

          Correct and the 1 Million Dollar in cash be equivalent of how much today? That is the real question.

          • Brian Brah

            Wrong bitcoin is already $4000+

          • Basketball God

            7500+ today

    • sukramko

      The real story here is not the strength of BTC vs $, but what currency will dominate the world. If you bough 1oz of gold in ’74 or nice tuxedo the one oz of gold will still buy you the nice tuxedo today, however if you kept the dollar you would not be able to buy the nice tuxedo or the 1oz of gold for same amount. Therefore your money has depreciated in value.

      If you want to think about the value then BTC can easily be worth million dollars, the question is what will that million dollar buy you? Perhaps nice car.
      The conclusion is that if you keep your money in BTC as you would in gold your value will not decrease as demonstrated with gold comparison.

    • Marco Maltese

      It’s funny how many people fail to comprehend the philosophical nature of money.
      If 1$ buys you today a liter of milk, it’s because people AGREE that 1$ can buy a liter of milk.
      The same goes with Bitcoin: only at the moment, because it is not the value of reference, Bitcoin is valued in FIAT currencies, because to obtain one, the fastest way is to BUY IT.
      In the future, this connection will become thinner and thinner, because Bitcoin will be given to you for work and services you do.
      But because the nature of Bitcoin is lacking INFLATION, its value is predestined to grow.
      As somebody else pointed out already, you should understand that in the future Bitcoin will begin to couple up with REAL GOODS.
      This means that each Satoshi out there will slowly become a SYMBOL representing a SHARE of the global existing goods on the planet.

      • Brannon Riche

        Since 2011, I’ve had to unlearn money. It started with the Money As Debt DVD series and then Bitcoin. The reason that the M$=1BTC seems so preposterous, is because we don’t see all of the “real” money. There is a divider that separates the cash and the cash prices that we see from the real money. If this real money could become paper dollars, we would understand the true value of the dollar. Bitcoin does not have this kind of capital control in place, so it is possible for its price to express this kind of value, and because it’s divisibility is superior to that of the dollar, the BTC price CAN go through the roof.. Can anyone correct my assessment please?

        • Marco Maltese

          You will see the difference when banks will begin crashing because the fractional reserve bubble will explode.
          Banks will lock down accounts and only allow withdrawal of some money each day, for living.
          That will be the Bitcoin Day.

          • Brian Brah

            Regret not buying bitcoin? I’m sure you do.

    • Brian Brah

      1 million sooner than later

  • Mario Sirna

    I personally believe in Bitcoin potential, but this kind of over-hyped numbers makes people and potential investors very skeptical in all bitcoin as a ecosystem.
    I personally find damaging for BItcoin reputation to predict such values.
    Actually bitcoin is an emerging technology, maybe in 5 years there will be an enhanced blockchain, or something totally new, and its intrisic value will plummet to few cents.
    Well… Let’s hope for the best 🙂

    • Pinkfish

      Bitcoin is super undervalued. Just like the Internet in 1999. The price is going much much higher.

    • I do believe the value is certain to explode at some point as new technology is built on the blockchain. 1MM may be a bit of an overstretch and assume most realistic investors would agree.

    • sukramko

      Why one has to die for other to evolve? There are many currencies today coinciding with each other just fine. Perhaps there will be another blockchain but it does not mean bitcoin blockchain has to die.

      • bg

        Moreover, it simply can’t die. You can’t say “stop using BTC now”. Currency works on a shared consensus of “assigned value” so once it’s established nobody can revoke that perceived value

        • dajosova

          unless governments stretch the arms of octopuss laws…!

    • Rompe himen

      interesting to read comments of 2 years old

      • Mario Sirna

        Glad they’ve manage to update the BTC protocol. The 4 tx/sec was a serious limit for its growth.
        Let’s see what will happen now.

  • Burgerwars

    So it may take 100 years, along with the currency you’re comparing to that you say will collapse. So, if, in 100 years, $1 million U.S. dollars can only buy you a pencil, your one bitcoin, also worth $1 million, will also only buy you a pencil. This, and me being long gone, makes my million dollar bitcoins useless to me.
    In any event, I do own some bitcoins, but it isn’t like that owning them that they’re my fully funded retirement account.
    I just looked at a website listing a whole list of bitcoin predictions from last year predicting the value this year. All but one were way off, with predictions from several thousand dollars on up. All these pundits are baloney artists. A couple might get lucky in a prediction, but I don’t listen to them.

    • Brian Brah

      A million dollar bitcoin would still be able to buy the same amount of stuff as you can now. You fail to realize the world gdp. If bitcoin = just 5% of gold each coin is 35k. Bitcoin is easily worth 1 million.

      • sukramko

        Gold be bad comparison as its not traded for goods/services etc. The fiat volume would be better indicator. Thus setting aside same percentage as gold/cash ration to represent hoarding storage in bitcoin is a good start.

        The current bitcoin is mostly recognized in international trade as it has no value locally at current state. When bitcoin hits 1T volume, it be easier to see where one market fell from bitcoin rise and give you better indication where and how bitcoin is used.

    • sukramko

      If USD collapses, then the exchange value is irrelevant as no one would trade BTC with/to USD.

      • Marco Maltese

        Exactly. That is what is going to happen.
        I am holding my BTC in my pocket because I consider them a great investment.
        But in the future, I won’t be exchanging them for $ to buy something: I WILL USE BTC TO BUY SOMETHING.
        It’s just a matter of time.
        Days ago Visa partnered with Coinbase to make the SHIFT CARD: now you can pay with this card in any of the 38 MILLION VENUES where Visa is accepted around the world.
        It’s only a matter of time and you will have Bitcoin accepted everywhere.
        Then people will REALLY begin questioning themselves if this Bitcoin thing is just a ponzi or a scam, and then BOOM.

        • sukramko

          Marco, seriously “Exactly. That is what is going to happen.” No it won’t. It just means end to monetary policy and its monopoly. Bitcoin will be another competing currency on the market as all government will issue their own version of blockchain ledger. In their case it still be private and held by Federal Reserve.

          • Marco Maltese

            Yes: seriously. People will, even slowly, understand that governments are enemies to populations, and that their control of money together with banks is not done for peoples’ good, but just to keep the social levels.
            But apart this, on a very basic point of view, why should I use banks’ blockchains and not a really free one with no fees on it? There’s really no point on it. A private blockchain will ALWAYS serve the interest of the few that control it. The most performing and least controlled blockchain will always be the public one. Maybe it won’t be Bitcoin, but it surely won’t be any private blockchain. Banks are just dreaming that using the same technology will keep them on riding the control of money.
            It won’t.

          • Phil Astley

            I agree with Marco here, and though I do not agree with it all – people are stupid and some will never come to the realisation that governments do not had your best interests at heart – a parallel can be made here with alt coins and banks using their own cryptocurrencies for their own gain, does anyone remember coinycoin that got sued out of existence? The creators stated they would give Kayne West 100,000 if he would back it before it even got started. When you can just put that amount of currency to a private individual that to me is basically corrupt and that is what banks and governments will do if they ‘invent’ their own coins. Nothing wrong with them using block chain technology but it is not a dragon that will go easily in the box again if younstart screwing with it.

          • Marco Maltese

            Btw, I am being paid in BTC right now. I don’t need to exchange back to dollars. This will filter slowly into the sheepeoples as well, and then puff: no more dollar.

    • Marco Maltese

      I hope you are trolling.
      Bitcoin value is NOT DIRECTLY PAIRED WITH DOLLAR.
      Quite the opposite, if anything.
      The fact that you assert something so nonsense like in your post shows that you have an extremely limited understanding of what is happening.
      Not of what will happen ah, OF WHAT IS HAPPENING RIGHT NOW.
      DOLLAR FREEFALL, BITCOIN ARISE.

      However, at the moment, $ is the referral value, because the world uses them, because the world is based on FIAT.
      But in the future, when Bitcoin will take over, people will begin to don’t give a damn about the $: while dollars will be falling like stones, Bitcoin will be shooting to the Moon.
      Also, there are good reasons to believe Bitcoin will shoot to the moon not in 100 years, but in maximally 10: it will become used worldwide, or it will disappear.

      • kittë

        we have to pair it to oil … and we will have a lot of fun, 10 stoshi for a barrel 😀

        • Marco Maltese

          Hopefully we won’t be talking about petrol that much in 10-15 years!

          • kittë

            we need that energy to produce solar panels, then we can get the rid of it or use it very very less

      • Konstantin

        I believe bitcoin won’t really become used worldwide (at a serious scale at least), simply because major governments don’t want to allow this.

        But it also don’t have to necessarily die or disappear. Also, there is possible that some other alt coin will become more valuable than bitcoin.

        • Marco Maltese

          If Bitcoin will have a value, it will keep spreading.
          It’s possible that it won’t ever reach the status of MONEY, but it will surely reach a status of RESERVE CURRENCY.
          Actually, it IS already at that status, and if nobody will find a way to stop it, it will keep spreading.

      • MrOmen13

        In other news, BTC reaches $20k in Dec 2017!

    • sukramko

      I guess predicting stock market is easier?

  • John

    The appropriate thing to do when writing a piece of journalism, would be to include the valuation methodology!

    What causes this nice beautiful round number to become bitcoins ultimate value?

    Are you assuming 100% of federal reserve transactions and dollars in circulation will be replaced with Bitcoin?
    Because a 1 million dollar valuation would equate to roughly 12 trillion US dollars being replaced by Bitcoin… So if we took 12 trillion dollars out of the global economy, Bitcoin valuation would be at 1 million dollars with its currently issued supply…. Is it possible? It is… How likely is it that will happen? Doubtful in the near term, and it depends on how fed up the people are with the current criminal banking system…
    This is not going to happen without a lot f opposition… And if it begins to really happen, you can bet your left nut that the bankers will dump tons of money into mining hardware, and will ultimately have a group that controls over 50% of combined mining, so that they can retain control of Bitcoin… In the end, I fear that the same players have a strong chance of allowing bitcoin to become mainstream, as the elite quietly build mining power, regulatory power, and 3rd party application power… Then when it’s all said and done, we will be back to square one, only this time, every transaction you make, for anything including a lollipop is recorded forever!

    • John

      Correction – the Bitcoin valuation would only be at 1m in my scenario above if every one of those dollars were replaced by Bitcoin as the currency…

      • Brian Brah

        Nope there’s other currencies not just dollars.

        • sukramko

          12T is most likely in all currency circulation for 2016

          Total currency in circulation
          In 1990, total currency in circulation in the world passed 1 trillion USD. After 12 years, in 2002 this figure was 2 trillion USD, and in 2008 it had increased to 4 trillion USD, broken down by country as follows:[1]
          Eurozone – 1035.2 billion USD, 24.30% of world total
          USA – 850.7 billion USD, 19.97%
          Japan – 762.4 billion USD, 17.90%
          China – 492.3 billion USD, 11.56%
          India – 140.3 billion USD, 3.29%
          Russia – 110.8 billion USD, 2.60%
          UK – 87.5 billion USD, 2.05%
          Canada – 43.8 billion USD, 1.03%
          Switzerland – 40.3 billion USD, 0.95%
          Poland – 37.7 billion USD, 0.89%
          Brazil – 37.3 billion USD, 0.88%
          Mexico – 34.3 billion USD, 0.81%
          Australia – 32.4 billion USD, 0.76%
          Other countries – 554.9 billion USD, 13.03%

    • Brannon Riche

      Hmmm… and yup!

    • sukramko

      Well put and you are absolutely right. In addition to 12 trillion, how much of that is excess of supply. As it takes 3 business days for FIAT to reach the recipient over central banking system . For that reason buffer of supply is needed. However bitcoin can be reused in less then 10 minutes. In this logic the FIAT would lose transaction power to bitcoin which would further decline in circulated volume.

  • Russell Spears

    If you look at the areas Bitcoin can disrupt…. This header greatly underestimates the potential of Bitcoin.

    There is not one fiat in the last 30 years that has not had multiple crisis… since 2000 USD has lost 38% alone and it is the “Most Stable” .smh. A good medium of exchange, should grow with its usage and the production…that is a value every nation has simply pocketed through debasement policies historically. They stole the positive gains from every holder of the dollar. Being able to forget about bank accounts and bankers… this already has won me over…

    But then again your talking about only 1/5 of the worlds population. 2/3 of the world will find banking and credit through Bitcoin….as soon as they catch on and still more as they buy smart phones. this is going to be decades of growth in Bitcoin value alone.

    There are tons of use cases like micro-transactions and such that will add value and we are
    only now considering what online gambling can do to the price….all are huge. and a value of $1 million is not enough….

    • Phil Astley

      Good comment and one I have also considered, imagine candy crush with a hefty discount for btc transactions when most people know btc exists and getting them is as easy as buying a coke at a corner shop..they likely will not even care about the short term gains, they can hold thousands of coins for millions of microtransactions and watch their initial deferment of revenue turn into profit of billions, all funded by mindless zombies on buses and trains.

      And that is only one game, Apple, Microsoft, Amazon…the list goes on and on.

  • running out of news

    Just buy reading the title you know this article is BS! Coming from someone who has traded stocks for over 12 years(im 28). Lets get to the point, NO ONE knows the futures; period! A prediction like the title suggests is purely click bait. The whole point on my comment is for people to think twice before making irrational investment decisions with hard earned money, possible based off of reading redic articles like this. The Efficient Market Hypothesis is real.

    • running out of news

      And lets be honesty. Who knows the technological advancements that will be made in the next couple. What is the system gets totally hacked?? And all BT go worthless? Diversification

      • Jeremy Ward

        Do you know anything about the bitcoin protocol?

        • running out of news

          Bitcoin was created in less then 3,000 lines of code. And it revolutionized the industry. Tell this to anyone before Bitcoin was created and you would think it would never happen. I wouldnt rule out some kind of hack or break in the future.

          • Mark

            Nice question Jeremy. And the reply makes it quite clear that the answer is no.

          • sukramko

            obviously you don’t understand distribution of blockchain codes.

          • magnus0u812

            And clearly you don’t understand the power of quantum computing….

          • sukramko

            quantum computing is not free to compute. The power it needs to crack a wallet might not be feasible. If you try to use quantum computing to crack moero like system, quantum computing be at loss.

    • Jeremy Ward

      “traded stock for over 12 years(I’m 28”

      Looks like someone’s ego is doing the talking. Is this fact supposed to leave the impression that you are some sort of financial prodigy? Because the only impression that this fact leaves the reader is that you were a rich brat.

      • running out of news

        You just made a big assumption for all readers. I am not rich at all. Just seasoned

      • AUM

        Jeremy, Because someone has actively invested since he was 18 years old makes them a “Rich Bratt” then I feel comfortable calling you a complete idiot.

        • Jeremy Ward

          And your need to reply to a thread that’s over 7 months old says plenty about your motives.
          Maybe read the whole thread next time.

          “Complete Idiot” Out

  • Looking for the return of $1,200! One thing at a time friends 🙂

  • Phrenzy Mcmillan

    I’m more interested in the bitcoin to ounce of gold ratio, or bitcoin to bushel of corn ratio. I don’t think that bitcoin will be the global reserve currency at any point in the future, I do think it could easily become the primary currency of global transaction. I could envisage a world a world where governments and banks have a core of value held in gold, perhaps even part of your own savings are gold, but the daily transactions are in Bitcoin. This way you have a solid mix of physical hard asset as well as highly flexible and easily transferable currency, neither of them opening your hard earned savings up to central bank manipulation or counter party risk.

    They’re working very very hard to get rid of cash, they want you to have all your money in the bank so that it’s trackable, taxable and so they can do things like expose you to negative interest rates to push you to spend and prevent you from simply holding cash to opt out of the system. You see this with the tracking of large cash transactions, the way cash is being treated as suspiscious by police and being civally forfeited and now banks charging you to handle lathe cash transactions. They’re even discussing national currencies that are purely digital that have things like built in negative interest rates where your money will slowly disappear if you don’t spend it.

    The thing is that if you switch to an essentially digital currency, even if it’s the US dollar where almost no cash exists and your money is just bits on a digital bank ledger then you have almost no reason not to use something like BTC instead. These developments away from a physical cash model really narrow the gap between the two currencies and with all the additional risks inherent in national fiat currencies and the many advantages of BTC it’s going to be a slow burn away from the USD. The question is whether BTC will become a big enough threat to the system that it becomes a conscious target of regulators and law makers, or whether it will just slowly grow to fill the spaces left by a retreating USD as things deteriorate.

    • Good points, but the question I still have is who is going to be able to maintain the size of the blockchain ledger if bitcoin becomes the primary currency of global transaction? Just handling as many daily transactions as VISA handles would probably increase the bockchain size by 1 to 2 Terabytes per day. It is a technical question because the blockchain file stores every transaction ever done, so the file size can only grow. Someone else has done the math more precisely but that’s the general idea. It’s supposed to be maintain by the community of users. What common every-day end user can keep up with adding a 2TB drive to their computer every day for a file size like that? (I think we need a new solution for global e-commerce that fixes this issue or makes it surmountable.)

      • sukramko

        You are talking about nodes which can handle that. The ledger can be downloaded for last 2 weeks only to validate your bitcoins. Ans you are rising the subject in wrong group.

        • Phil Astley

          He does make a good point though, how many nodes are actually out there and are they secure against malicious wallets that can act as virus spreaders that find the nodes and cough all over them?

      • Phrenzy Mcmillan

        There are lots of cloud storage systems that let you rent out part of your hard drive room encrypted and stitched together with redundancy to provide a single file. Users are rewarded for participation. Either using this system directly to store a multi tb block Chem ledger or using the system directly integrated to the btc block chain (say 5gb per person involved) with competative compensation on computers that would be on anyway would be a simple way to integrate a proven and well understood technology to tackle this problem effects even as the ledger grows to many, even dozens or hundreds of TB.

        If BTC becomes this popular then compensation and involvement will likely offset costs, particularly as low energy SS memory gets bigger, faster and cheaper wuth some exciting generational jumps on the horizon.

    • Phil Astley

      Every time a discussion like this comes up everyone talks about usd and forgets the rest of the world; America makes up 4.4% (5%if we are being generous) of the developed world, that leaves 95% of the world that doesn’t care what America does and even if we include USA, it is not the single world currency so you can use btc absolutely anywhere, without having to pay extortionate exchange rates….

  • Brony Pony

    I didn’t think much to this article, it was made to look positive, But then tried telling people the price won’t go up when the daily supply is cut in half next year, when most brains believe the opposite! words like that could hurt early 2016 block halving speculation… so has no place been typed by a so called Bitcoin investor.

    Secondly, I’ve heard people say Bitcoin price doesn’t matter.. bitcoin price does matter, if its higher in dollars/gold that means more buying power per BTC for everybody = the poor get richer 🙂 in the far far future maybe we won’t price our BTC in USD but bitcoin price will still matter, what will its price be / worth against say buying gold or a house??? to sum up maybe price doesn’t matter to you, but buying power does and as that means having greater worth per BTC…. YES PRICE DOES MATTER.

  • WhyIsThat1234

    Bitcoin just isn’t backed by anything. The only thing raising the price is demand and the expensive cost to mine and maintain the network. Over time, transaction costs will increase, and the tax man will come after the gains, which will make it less appealing.

    • bovis

      – It is backed by the network. The most powerful computer network on the planet. By a very long way.
      – Yes. Demand. Supply and demand. You know, how a free market works?
      – Transaction costs may increase. They may not. They will still remain faster and cheaper than the existing systems.
      – Ah, the tax man. Run for cover, bitcoiners, the taxman might come after you! A bedtime story to tell your children.

    • Capitol gains are only due if and when the gain is realized and only on the profit of that gain. Loss can also be claimed. This is true with anything so I don’t understand your point.

    • sukramko

      You cant tax what you don’t sale. The same goes for digging Gold.

    • Phil Astley

      Money is not backed by anything except a promise that what you hold will drop in value and you what you can buy now will not buy you the same in 10 years (unless you get pedantic and claim that some investments rose at the same rate as inflation)

      What REAL commodity is current money backed by except print ink on worthless cotton paper?

      • WhyIsThat1234

        what I’m saying is, Bitcoin is like the printed dollar as it is digitally created(printed). The only real money is GOLD.

        • Guy Smiley

          bitcoin has a limit so it cannot be digitally created after it caps at 21 million not the same as paper money and very similar to precious metal but serves the purpose of paper money finite and easily transported

      • Guy Smiley

        except currency now can just be printed as hidden tax where bitcoin is all transparent

  • kchrist

    people should start earning.. its also like saving some money on the bank… i think even i am currently unemployed this will help me earn also it has alot of earning faucets that will me earn bitcoins aswell… i hope that the currenct value of a bitcoin would increase and legit developers would create more fun games for this
    .. #justSaying

  • jonathan sonnier

    I just hope the whores start taking the bitcoin…
    -Jawn

  • Pinkfish

    If you guys understood how impossible and what a headache it is to do an international monetary transaction and how simple and easy it is with Bitcoin, then you could understand why Bitcoin’s value will skyrocket.

    The market is a meager $7 Billion right now. That is NOTHING!!

    We can get $700 Billion and barely make a dent in the work financial systems. That is 100x the price today ($50,000 or so). Now, you can start to see how $1million isn’t as crazy as people would think it is.

    • Phil Astley

      If that happens it would mean the £25 worth I bought as my first foray into btc would be worth £5000 (hope no one goes off on one about exchange rates), I would be happy with that for a start, especially as I intend to buy a few full btc over the next few years 🙂

  • ayumipiedotcom

    I <3 BITCOIN

  • As these people who REALLY ovn money main idea is not to own money but people, then, as long having global Bitcoing will not interfair with main plan then green light will be given.

    • to stop it .. is so easy, proof is right now, as well,
      not spreaing as was planned, but as with out limitations as thought….
      but these limitations can be eliminated, they tied to there to keep ship grounded, and keys will be getting the ones who will set bitcoing free,
      who understand, why is not needed to compute with your computer nessesarily or even some other solution.. or is there..

      • Guy Smiley

        the fuck are you on about? make sense your conspiracy is stronk

      • vetiarvi

        Please STFU and get off the drugs. Even google translate would make more sense that what you wrote.

  • InMyMindsAyn

    My prediction is a $25,000 Bitcoin in 2020.

  • My Info

    IN MY OPINION bitcoin price will keep rising nothing rise in strait line, but the trend is upward . very few people on earth buy and use this currency . just a matter of time before BITCOIN becomes widely used in INDIA and CHINA and the rest of ASIAN countries then the price will hit new highs undreamed of before .remember only 21 million could ever be mined .

  • magnus0u812

    The advent of Quantum computing has the potential to radically affect bitcoin mining capabilities and ultimately price. Tread carefully.

  • Jersey

    All those comments about having that ONE bitcoin. I started mining bcs with a homemade “super computer” in 2009. Back then I could get up to like 20+ bcs/day. As of today, I own 1450 bitcoins. I can tell you, being a millionaire at 28 years old feels pretty good.

    I’m a software engineer if anyone’s interested.

    Best of luck.

    • Hat_trick

      Being humble and educating mainstream adopters about decentralization will feel even better.

  • Cindy Collier

    Whats peoples view on bitcoin to gdp we are also going to slide as fast as the americans. Brexit is going to damage our economy regardless of wether they manage to go through with it or not and we are in a similar scenario in terms of goverment debt and cost of living inflation which will be even more so now as doubtless we will piss off our european neighbours and they will increase the cost of delivering and receiving goods on top of less beneficial renegotiated terms just for the products the pound will be worth less surely

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