Post
Topic
Board Economics
Re: Nostalgia already: "...Bitcoin...is worth nearly a dollar..."
by
buyanycoin
on 07/02/2016, 20:29:18 UTC
Ah, the days when one could even mine whole Bitcoins in minutes with a potato. First time I heard about mining Bitcoin (2011) I thought it had something to do with Minecraft. Btw, I'm surprised to see that already in 2011 prices rose above $20. It took roughly 20 months for BTC to reach this value again ..

It's been roughly 26 months since we hit the $1,000 mark, are we due? Is a superbubble in the high 5-digits brewing?

Perhaps in your dreams. It's far from realistic right now. I am already happy if we manage to come above $600 again. That alone can be considered a great achievement after all the nonsense drama we have been going through.

Here, here.  $1 BTC would be fine as long as trade volume multiplied by 10x to back it up.  The price point is sensationalist static; consumer transaction (on/off chain) volume is the key success/adoption metric - speculative investment notwithstanding the price point (degree of effort people are willing to put out to get a unit) will always adjust to reflect the currency's real-world use.