Post
Topic
Board Speculation
Re: Now That We're Above $5000, how long until we hit $10,000 BTC
by
jrobi4life
on 13/10/2017, 09:55:21 UTC

I think bitcoin will likely have more bad news than good news for the coming months. No major retailers have adopted BTC, there are few legal frameworks to support its use as an exchanged currency, and there is a lot of opposition due to the fact it's mostly used for money laundering and drugs purchases. I'd be happy to use BTC for most of my routine purchases if a big company would accept crypto, but that is HIGHLY unlikely to occur within the next couple of years or so. I think my estimates are reasonable, I do not see it breaking $20,000 unless a major corporation embraces it.

Bitcoin doesn't have to be accepted by any retailer to be successful.  There are already plenty of Bitcoin debit cards that automatically exchange Bitcoin for fiat at the time of purchase.  Also bitcoin's primary value is as a private store of value.  As long as there someone that will accept bitcoin for currency we don't have to pay for our groceries in bitcoin for it to be valuable.  But make no mistake, bitcoin payments at retailers are already happening and will only increase