Quote from: Ibian on January 20, 2014, 09:13:32 PM

Quote from: skivrmt on January 20, 2014, 05:58:17 PM

Quote from: GigaCoin on January 20, 2014, 10:47:54 AM

Look at it from marketcap value, not from price per bitcoin. As the marketcap goes up which is inevitable, so will the price. Fixed amount of bitcoin will insure quick price rise. If we hit $50 Billion market cap this year we're looking at around $4000 / BTC

Price is important but this is a way more important factor in the rising price of Bitcoin that so few people seem to grasp. Bitcoin from $1 to $100 was $1B is new money. From $100 to $1000 is was ~$10 billion in new money. The problem with exponential growth is ~$100B in new money for $10k for Bitcoin.

"$1B isn't so much money really, but $10B is just insane, you'd have to be nuts to believe that could happen in less than a year." - You, about one year ago.

Exactly. It could happen. But for $100B we're going to need institutional money of some sort to get to that price. Its not just going to be individual investors. We're getting there with hedge funds holding coin, Second Market BIT trust starting last Sept, Fortress fund semi opening, and maybe soon this year the W twins ETF opening.

I think it'll happen, just maybe not as soon as most of us would like