Quote from: vthx on September 04, 2013, 06:55:28 PM

If bitcoin stays around long enough then there is a good chance that bitcoins as valued in dollars will reach $1000. The trend in the denominator (usd) is down. For example if you plug today's price of bitcoin/usd into a government inflation calculator you find that it took 46 years (1967-2013) for $143 to turn into $1000 just from dollar devaluation alone. Obviously if the intrinsic value of btc increases (e.g. from more people trusting and using it) than that will accelerate the trend. In short I think there is a good chance bitcoin will either reach/exceed $1000 or become worthless depending on whether or not it remains viable as time progresses. I personally hope that bitcoin lasts. Bitcoin is a huge step in the direction of a more free society!

During an economic downturn, a lot of money moves out of fiat and into precious metals. However, after it was revealed that paper gold certs are completely un-backed (see "Germany gold federal reserve"), the only sure way of having gold is to hold gold bullion, which is becoming harder and harder to find/ship/verify/store.

Bitcoins are weightless, virtual, and unforgeable, at the expense of being more volatile.

If/when the economy tanks, bitcoin will reach FAR beyond $1k.