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People like Max Keiser are calling 100k to 1mill per bitcoin. Hard to imagine. I left my gpu running for a few weeks a year or so ago and mined myself 1 bitco

People like Max Keiser are calling 100k to 1mill per bitcoin. Hard to imagine. I left my gpu running for a few weeks a year or so ago and mined myself 1 bitcoin. I figure that should Keiser's prediction comes true - it will be a nice easy pay day - if not, I didn't waste much time, energy on it. I've been looking at it lately though and thinking that it surely must drop back soon. I'm thinking a drop back down to 15 us is reasonable.

rmc 14y ago
People like Max Keiser are calling 100k to 1mill per bitcoin. Hard to imagine. It's the hope of some in the bitcoin community/industry that bitcoin becomes one of the top 3 currencies in the world. Given that there is a hard limit of ~ 21 million bitcoins (half of which have already been given out), the only way to get in the top 3, is for each bitcoin to be massively valued.
aneth4 14y ago
$1M per bitcoin is $10T in money supply with 10M bitcoins. The current USD money supply is $2.7T. I suspect $10T is around the entire world money supply.
waterlesscloud 14y ago
Bitcoin is like a startup. If it works, it's worth a tremendous amount. If it doesn't, it's worth nearly nothing. Right now its proponents are valuing it like a tech startup stock- what's its potential future value? Its opponents have already decided it will fail. Either side may be right at this point, though bitcoin has more going for it than it did six months ago. To me, the trend is currently towards "it's going to work", so I think it's worth a gamble. But it's definitely a gamble. I think cryptocurrency is without question a force for the future. It makes exchanging money too easy and too fast for it not to eventually dominate economic systems. Economies/companies that don't use it will be at a disadvantage. What's in doubt for me is whether bitcoin will be the winner of the cryptocurrency market.
- kjackson2012 14y ago
  The only way it "works" is if people start using it to pay for goods and services. Right now it is an investment vehicle for speculation. And the crazy volatility suggests to me that most people won't feel comfortable using this as a currency for transactions, until the volatility decreases immensely.
- simondlr 14y ago
  My money is on Bitcoin remaining the winner in the cryptocurrency market. It's got enough network effect now for people to keep it a success. The economy is growing, and people have too much vested interest already. Flaws will be fixed, improvements will be made, etc.

rmc 14y ago

People like Max Keiser are calling 100k to 1mill per bitcoin. Hard to imagine. It's the hope of some in the bitcoin community/industry that bitcoin becomes one of the top 3 currencies in the world. Given that there is a hard limit of ~ 21 million bitcoins (half of which have already been given out), the only way to get in the top 3, is for each bitcoin to be massively valued.

aneth4 14y ago

$1M per bitcoin is $10T in money supply with 10M bitcoins. The current USD money supply is $2.7T. I suspect $10T is around the entire world money supply.

waterlesscloud 14y ago

Bitcoin is like a startup. If it works, it's worth a tremendous amount. If it doesn't, it's worth nearly nothing. Right now its proponents are valuing it like a tech startup stock- what's its potential future value? Its opponents have already decided it will fail. Either side may be right at this point, though bitcoin has more going for it than it did six months ago. To me, the trend is currently towards "it's going to work", so I think it's worth a gamble. But it's definitely a gamble. I think cryptocurrency is without question a force for the future. It makes exchanging money too easy and too fast for it not to eventually dominate economic systems. Economies/companies that don't use it will be at a disadvantage. What's in doubt for me is whether bitcoin will be the winner of the cryptocurrency market.

kjackson2012 14y ago
The only way it "works" is if people start using it to pay for goods and services. Right now it is an investment vehicle for speculation. And the crazy volatility suggests to me that most people won't feel comfortable using this as a currency for transactions, until the volatility decreases immensely.
simondlr 14y ago
My money is on Bitcoin remaining the winner in the cryptocurrency market. It's got enough network effect now for people to keep it a success. The economy is growing, and people have too much vested interest already. Flaws will be fixed, improvements will be made, etc.