Quote from: sanadas on May 31, 2016, 08:27:59 AM

Quote from: zimmah on May 30, 2016, 09:25:10 AM

Quote from: MatTheCat on February 21, 2016, 10:14:28 AM

Quote from: 1Referee on February 21, 2016, 09:55:16 AM

People who say that Bitcoin can reach $1 million per coin at some poin in the future are not being realistic. They keep fooling themselfs. I think anything between $1000-$5000 is surely possible. Especially when Bitcoin is getting used as an investment tool by institutional investors. These guys have the money to move Bitcoin beyond what we think is possible. Without them we'll probably keep sitting below $5000 for ever. We only need Bitcoin to gain more popularity among average joe people as being a currency and an investment tool. The rest will go automatically.

Bitcoin is controlled by a Chinese cabal. They have Bitcoin stitched right up in terms of mining capacity and in terms of control of Bitcoin 'wealth', Satoshi's coin stash notwitstanding.

If Western institutions pile into Bitcoin, then they are piling into Chinaman's business and enriching Chinaman. If Western Institutions are eager to make use of 'blockchain' technology, then there are plenty other alternatives that they could turn to other than hyper expensive, bloated, and lets face it, very slow Bitcoin.

Bitcoin goes up, when the Chinese whales decide to pump it. Bitcoin goes down, when they decide to dump it.

Bitcoin's only advantage over existing means of electronic payment, is in it's ability to avoid government capital controls.

If Bitcoin is going to hit new ATHs, it aint gonna be institutional investors coming into the frame, it is going to be an increase in demand due ton Capital Flight (probably from China), and the Chinese Bitcoin Cowboys ramping Bitcoin into the stratosphere to ensure that the Capital Flightees pay top dollar for their Bitcoin. Thus Joe Bitcoiner hopes to get rich on the back of economic chaos and mass suffering in the most populated nation on the face of the Earth.

Quote from: r0ach on February 21, 2016, 09:47:19 AM

http://www.zerohedge.com/news/2014-07-10/pure-madness-revenueless-assetless-sync-continues-over-5bn-now-bigger-cablevision-an

And indeed, one should never underestimate the avalanche effect of mass public greed, which is why the old adage of the majority always losing holds true. The majority who invest money in a vacuos asset like Bitcoin are certain to lose and those who win or hope to win are exploiting the stupidty of other humans, whilst neither creating nor offering anything of value in exchange for their profit. The very definition of a 'rat race'.

you're forgetting that bitcoin is starting to get widely used all over the world, and those investors are sure as hell not going to want to miss the boat and let "chinamen" have all the bitcoins.

I think the bitcoin usage is not widely at the moment. But the adoption is increasing all the time.

The price of bitcoin is an indication of its usage. the more the usage, or the adoption, the higher the price.