Bitcoin Forum

Hey Guys!

Sorry for the re-post. The last one had a typo that was killing me!... %$

Just trying to gauge everyone's opinion and gather thoughts on where you think the Bitcoins are headed in the short term.

 ;)

~Wavey

I think Bitcoin is inflated with speculators.  Just a hunch, but I think because of ASIC speculation many "investors" have created a BTC bubble that will burst and see it traded back down below $25 USD in a month or two.

Also, when all those ASIC early adopters try to sell off their first month's worth of BTC farmed to recoup the initial cost of the machine [and to pay the power bill that the Avalons will create], we will see BTC drop a lot.  Why?  Because they will have lots of BTC so they won't mind selling it under "market value" and will basically race each other below the $25 USD to BTC price.

Interesting view point thejestre.

Although the new ASIC chip Mining machines are interesting and definitely a contributor to making the value rise

Doesn't the limited amount of bitcoins mean that even a crash could potentially generate more attention which could see an even greater rise in value?

An influx of sales at one time will affect the market yes..

but 95% of the world is still not using this currency yet, and make no mistake this currency IS PROGRESS!

It seems to me like as long as people keep trading in BTC they will go up and up

again I was only talking short term before for the sake of gauging general opinion,

but I plan on hanging on to my coins for life  ;)

Yes, it seems like that to me also, but just remember: nothing in life is guaranteed.  So many times I thought I knew of a "sure thing," only to be reminded of this lesson.

Bitcoin is only worth something as long as people are willing to buy it with real currency, but that only means it is worth something.  That doesn't mean people will always be willing to pay more and more for it.

Who knows what will happen in the future.  Maybe Litecoin will be seen as more valuable and BTC will disappear.

In the mean time, I'll see if I can't make some money in it and have some fun.

BTC will not stop until 50$! :)

Interesting results. Looks like most people are expecting a further rise to $35-$40.

I think it will drop short term when the army of ASIC come online, then go back up..

Demand can be really astonishing. In global, so few coins and so many people... No wonder if it pass $100 during this year.
I started buying coins in the beginning of 2012 and now continue doing so.
Just sold 20% of my coins for $33/btc to completely recover USD amount i spent on it. Will sell another 20% when it's $50...  :)

This is where my thoughts are as well. Many people who have a substantial amount currently vested in preorders would more than likely wish to recoup that expense sooner than later. Once their ASICs are paid off, why not just collect a pile of Bitcoins?

I canceled my order from BFL last week and bought BTC with my refund... I am well on my way to doubling my investment already.... $6 jump since I bought in:) I speculate it will be @ $48.43 in the last hour of March (Mountain Time Zone)!

Interesting. Are there any btc prediction markets that deal with this stuff?

in just the short time that I have been monitoring the BTC chain, I have seen its worth rise considerably, I must say that it is rather popular and is being incorporated into many websites and even games now. so as a guess I would say that BTC will be around for quite some time to come.  ;D

This probably is a speculative bubble although it doesn't make a whole lot of sense to me why the shift to ASICs make people think the price will be higher. Looking forward to seeing if this is a bubble or not, and if it is why the support level for BTCs is based on trading fundamentals.

Maybe I'm just optimistic but it could exceed $50...

I sold 1btc at $18.71 on 29th Jan and it pretty much double over the month after that. I'm very bitter.

My viewpoint exactly. I think once ASICs become more commonplace there would be more supply than demand, until a new equilibrium is reached (e.g. the difficulty will rise to make mining less common) and then the value will rise again. Until the next technology comes along...

ASIC's have nothing todo with the price per coin. ONLY possibly in that FEWER mined coins will be sold into the market = price rise.

Why? Because the ROI on ASIC's is sooo high early on, that miners don't NEED to sell bitcoins to recoup fiat investments.

ASIC's, FPGA's, GPU's, CPU's - it doesn't matter, the rate of new coin production is the same regardless, hence those technologies shouldn't impact bitcoin prices, and certainly not negatively.

Another caveat I guess of ASIC's is that they improve the security of the entire bitcoin network which can give investors and merchants confidence.... = price rise.

Well that escalated quickly!