Can someone please explain to me where the money would come from? Even if India gets on board ... how the heck will their participation affect price?
Its not like a bunch of people in India can start blowing money on $5,000 Bitcoins .
Can someone explain to me why people here think a rise from $1,000 to $10,000 could even happen at all, let alone quickly?
Let's assume there are a total of 2 million people in the entire world holding 6 BTC each on average (not a bad estimate I think). Now let's think about what would happen if 8 million more people got interested in bitcoin recently after reading about it in the papers, and they decide to invest $2000 each on average in bitcoin. Together that means $16 billion will flow into bitcoin, which as you can imagine will push up the price considerably. And 8 million people is still only a tiny fraction of the world population, so $10,000 and higher can be easily reached when more people get interested and start investing a small portion of their wealth.