Quote from: williamevanl on June 09, 2014, 02:55:23 AM

Quote from: AD_Infinitum on June 09, 2014, 01:43:06 AM

Does anyone realistically think that Bitcoin will ever reach $50k? Don't get me wrong, I'd be more than happy if it reach even 1 zillion but...

I find it interesting that nobody seems to understand that it's somewhat completely arbitrary what the value of each Bitcoin might be. It's like asking questions like: Do you really think people will even spend a trillion dollars on website names (in total). Do you really think a single website could be worth a billion dollars?! etc..

Bitcoin is has been around $1000 with almost zero adoption (.3%). I think this all has to do with people thinking in terms of 'a single bitcoin' but honestly like stock splits one day we will probably talk about millibits or Satoshis. Do you ever think a Satoshi will be worth 10 cents!? (That would make a bitcoin worth $10,000,000)

When Bitcoin hits 10,000 we will probably opt to start referring to things in millibits on exchanges and forums and questions like this will seem silly. If it takes over several markets and is ever used as a store of value like Gold, then yes 50,000 doesn't even seem strange. Without all of the splits microsoft has had, how much would a single stock be worth? (looks like $8,000 now, and $17,740 at its highest) It's the splits that confuse people , back then talking about a single share ever reaching $17,740 would have seemed silly.

The value of all bitcoins isn't totally arbitrary, it is a function of supply and demand

Quote from: Justin00 on June 09, 2014, 09:13:40 AM

can someone tell me in pm when it will reach 50k, defeats the purpose if everyone knows..
come on.. someone.. be a pal!!