What if Bitcoin's goes to $1000 - $2000+
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[quote name=“zerodrama” post=“35018” timestamp=“1384893595”]
When the system decides to take down MSats they’ll be associating my Sats with whatever goblin they come up with.
[/quote]Sometimes I wonder if we’re even having the same conversation… ???
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Zerodrama where are you from?
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[quote name=“kris_davison” post=“35030” timestamp=“1384896981”]
Zerodrama where are you from?
[/quote]Eastern US
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That’s cool just struggle to get some of your colloquialisms. :)
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1 BTC = $2000
0.10 BTC = $200
0.010 BTC = $20 -
Let’s put this in perspective, shall we?
The world GDP is somewhere around 50 Trillion Dollars. Bitcoin will never have more than 21 Million in existence. Let’s say that there is a possibility that Bitcoin could one day constitute 1% of world transactions. If this were the case, then
($50T * 1%) / 21M BTC = $23,809.52 / BTC
What is the likelihood of Bitcoin succeeding in being the currency used in 1% of world transactions? Let’s say it’s 10%. You get a risk-adjusted value of $2,3809.52. So a BTC price of roughly $2,400 wouldn’t be a crazy price today.
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Let’s add that it’ll take time for it to be taken up.
If the $2,400 is reasonable and if the flip-flop habit of bitcoin prices is what it is, then maybe it will hit $4,800 (2x value before it cracks) and then level of to between $2,200 and $2,600.
Not bad, but it’s only 4x from where it is now. LTC could stop at $1,800 (faster run up gives it a higher peak, everyone is familiar by then) and return to $550 to $650 and FTC $250 (two miracles in a row, FTC won’t get the same treatment) then back to $140 to $160, IF WE PLAY BY THE NUMBERS.
If we play by roles and usage:
BTC used for stock trading, mass shipments.
LTC high class hotels, car dealers, home buyers.
FTC rent, groceries, cell phones.In these cases, the market share of the usage has more influence than the raw numbers.
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[quote name=“zerodrama” post=“35300” timestamp=“1385013591”]
If we play by roles and usage:
BTC used for stock trading, mass shipments.
LTC high class hotels, car dealers, home buyers.
FTC rent, groceries, cell phones.
[/quote]But why? Why would you not use BTC for everything? At $2,400, a single satoshi is still a fraction of a penny, making it perfectly acceptable for even the smallest of transactions.
I’m just playing devil’s advocate here. I’m interested in people’s opinions on how they see LTC and FTC gaining the same level of adoption that BTC is experiencing.
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[quote name=“Kevlar” post=“35302” timestamp=“1385014622”]
[quote author=zerodrama link=topic=4522.msg35300#msg35300 date=1385013591]
If we play by roles and usage:
BTC used for stock trading, mass shipments.
LTC high class hotels, car dealers, home buyers.
FTC rent, groceries, cell phones.
[/quote]But why? Why would you not use BTC for everything? At $2,400, a single satoshi is still a fraction of a penny, making it perfectly acceptable for even the smallest of transactions.
I’m just playing devil’s advocate here. I’m interested in people’s opinions on how they see LTC and FTC gaining the same level of adoption that BTC is experiencing.
[/quote]You cannot use Bitcoin for everything because it’s very slow and very expensive to send.
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[quote name=“ghostlander” post=“35304” timestamp=“1385021383”]
You cannot use Bitcoin for everything because it’s very slow and very expensive to send.
[/quote]Both of these problems have solutions. The payment protocol addresses the slowness and the free market will adjust the transaction fees. Remember, transaction fees are NOT hard coded in the protocol, nor are they required; 0 fee transactions go through all the time. The devs are working on fixing the client to respond to increasing market pressure to bring down the cost, and the free market will do the rest.
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[quote name=“Kevlar” post=“35302” timestamp=“1385014622”]
[quote author=zerodrama link=topic=4522.msg35300#msg35300 date=1385013591]
If we play by roles and usage:
BTC used for stock trading, mass shipments.
LTC high class hotels, car dealers, home buyers.
FTC rent, groceries, cell phones.
[/quote]But why? Why would you not use BTC for everything? At $2,400, a single satoshi is still a fraction of a penny, making it perfectly acceptable for even the smallest of transactions.
I’m just playing devil’s advocate here. I’m interested in people’s opinions on how they see LTC and FTC gaining the same level of adoption that BTC is experiencing.
[/quote]There is a growing notion that having a single world reserve currency was a bad idea, and not just because of wars.
By that same token, if people tend to hoard in BTC because they want something that maintains value so their kids can attend college, then people will use other currencies that tend to circulate because they can use those to get the things they need now. This is what I mean about big players affecting my ability to use currency. High prices mean a certain psychology is at work. The store of value side competes and often conflicts with the exchange of value side.
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[quote name=“zerodrama” post=“35425” timestamp=“1385058380”]
[quote author=Kevlar link=topic=4522.msg35302#msg35302 date=1385014622]
[quote author=zerodrama link=topic=4522.msg35300#msg35300 date=1385013591]
If we play by roles and usage:
BTC used for stock trading, mass shipments.
LTC high class hotels, car dealers, home buyers.
FTC rent, groceries, cell phones.
[/quote]But why? Why would you not use BTC for everything? At $2,400, a single satoshi is still a fraction of a penny, making it perfectly acceptable for even the smallest of transactions.
I’m just playing devil’s advocate here. I’m interested in people’s opinions on how they see LTC and FTC gaining the same level of adoption that BTC is experiencing.
[/quote]There is a growing notion that having a single world reserve currency was a bad idea, and not just because of wars.
By that same token, if people tend to hoard in BTC because they want something that maintains value so their kids can attend college, then people will use other currencies that tend to circulate because they can use those to get the things they need now. This is what I mean about big players affecting my ability to use currency. High prices mean a certain psychology is at work. The store of value side competes and often conflicts with the exchange of value side.
[/quote]Good point…lot of people go into btc as long-term investment. I personaly do not want to spend much BTC. But for FTC…I dont really care, I bought item from market, I payed also some FTC for graphics work. FTC have good advantage in low price as lot of people dont belive much in story of FTC beeing sky-high in long term…
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[quote name=“mirrax” post=“35429” timestamp=“1385058739”]
Good point…lot of people go into btc as long-term investment. I personaly do not want to spend much BTC. But for FTC…I dont really care, I bought item from market, I payed also some FTC for graphics work. FTC have good advantage in low price as lot of people dont belive much in story of FTC beeing sky-high in long term…
[/quote]I’m the opposite. The passive mentality in both litecoin and bitcoin just make me dizzy. Can’t stand it.
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[quote name=“Kevlar” post=“35318” timestamp=“1385030790”]
[quote author=ghostlander link=topic=4522.msg35304#msg35304 date=1385021383]
You cannot use Bitcoin for everything because it’s very slow and very expensive to send.
[/quote]Both of these problems have solutions. The payment protocol addresses the slowness and the free market will adjust the transaction fees. Remember, transaction fees are NOT hard coded in the protocol, nor are they required; 0 fee transactions go through all the time. The devs are working on fixing the client to respond to increasing market pressure to bring down the cost, and the free market will do the rest.
[/quote]They don’t want Bitcoin to be faster, they want off-chain processing centres which may go bankrupt like Inputs.io. Zero fee transactions come through if they are high priority (value * age / tx size > threshold). Most small transactions do not qualify for zero fees. Even if the developers wanted to make Bitcoin more affordable for small transactions, there is a problem of the block chain size > 11Gb.
