Bitcoin Forum

And do you have any data to back up your pretty little graph?

Nice graph but are you serious!!! Look at what happen to gold this year, do you remember people preaching it it would hit $2000, $5000. Bitcoin is not gold I know but nothing goes straight up. I would be happy if stays at 100, or 130 as today. Maybe then serious investors will get interested.

So are we all going to get rich?

Any instability in any currency or any run on banks such as the case in Cyprus. You will see a flock to Bitcoin, hence raising it's value due to increased demand.  :D :D

SO MINE MINE MINE!!

Well, four more years and I'm a multi-millionaire! Retirement at 35 here I go! :D

Sell your bitcoins today.
Tomorrow will be too late

There's one little bump in the road that may derail your (slightly deceptive logarithmic) graph.  That is the big brick wall lurking on the other side of ASICS.  There is a limit to profitable mining.  If Bitcoin has not established itself as the premier means of worldwide exchange before razor thin margins make mining near impossible, there will be a major crisis.

Bitcoin mining profitability is directly correlated to fiat/BTC price, if bitcoin price rises, mining becomes more profitable.

The goal of Bitcoin is not mining. Mining is the means to which to just process the confirmations and release more Bitcoins into the market. It will eventually taper off as the reward is cut in half.

The goal is its anonymity and instant transactions along with its worldwide usage. There will still be demand for that because trust in Government will decline once all this debt catches up with us.

$1000 a bitcoin and I can quit my day job haha!

boottaa boom booota bang!

Wow, it's going to be a young retirement for me... A chart doesn't prove shit, is there anywhere you got this info from?

Based on the chart I will become millionaire in 2017.

It's a dream not real. Don't every think to quit your day job.

I don't need a dayjob even if bitcoin ever reach $1000  ;)

Unless speculating on risky currencies and business count as one.  :P

I am onemorehuman and I have come to preach the gospel of altcoins.

Woe to the Bitcoiners! :o

If there is such a flood of new users into the bitcoin network like this graph implies, it will not be able to scale properly.

Currently, there is not enough comprehensible information, mature software interfaces, or stable merchants to enable the bitcoin network to handle all this wealth.

Most importantly, the users of bitcoin are grossly overconfident about its technology.

True, Satoshi Nakamoto and all the other developers have made beautiful leaps forward with cryptography and decentralized networking. However, the technical decisions with proof-of-work, difficulty adjustments, and block rewards remain largely untested. We do not know what the best specifications of a cryptocurrency are.

New innovations like proof-of-stake, true anonymity, and multi-purpose mining that other cryptocurrencies are developing will soon make the bitcoin technology obsolete. Software engineering cannot be rushed, it is a slow, organic process that produces winners and losers.

So, just like you have decided to put your faith in bitcoin because you knew it was better than fiat, put your faith in the newer cryptocurrencies that promise yet greater freedom. ;D

I don't think we've seen anything yet. Once bitcoin goes more mainstream (assuming it does), price movements in fiat terms will be astounding.

At the rate of growth you are suggesting we will need 30 to 40 billion people in the world using bitcoin in 2017 (assuming 3 to 4 million using bitcoin now, growing 10 fold year on year)

There are not enough people in the world to allow this to happen.

Most of the world's population will still not have the technology at hand to allow them to use bitcoin in the next 4 years.

Retirement at 20 BAM!

Wait we need some chaotic points here and there
Or are we calculating catostrophic rises in the difficulty of bitcoin mining  ;D

Haha, even greater!

Out of the system in 2 years woot  :D

Nice graph  ;D

I believe the graph was done for LOL

Yes, it is a hoax.

As much as all the scam emails he sends to everyone :D

I believe it will skyrocket to $ 10,000

Good luck mate  :D

Price will not skyrockets if BTC business doesnt skyrocket, so we will see how many big merchants will be in BTC business  :)

how much time did you spend on that pic?

You're right, except that the 3 to 4 million users of bitcoin only use it for some of their transactions. If all 7 billion people in the world used the 21 million bitcoins exclusively, we would probably see these predicted prices.

Of course, that is not going to happen, because:

1. Like others have said, only a few people have access to the technology to use cryptocurrencies.

2. Bitcoin's design is experimental. Newer cryptocurrencies will supersede it. (Like, Bitbars, Orbitcoins, Securecoins)

3. The smooth execution of Bitcoin's network will be compromised by someone, either through breaking SHA-256, achieving a mining monopoly for a 51% attack, or outlawing it.

that's why there's a lot of talk about BTCguild right now, since they command of the network's hashrate and it's no one's fault because they do offer the most payout. We just have to becareful not to ruining bitcoin because of something so simple

lol $1M for a coin thats not posible unless that $1M is like $1000 now

Looks legit.... LOL.

Yeah, it's not likely that the bitcoin will reach $1M by 2017
Although I'm sure hoping it will!

Funny idea, all govts will ban any currency except Bitcoin. Only Bitcoin allowed  :)

I think bitcoin will explode next year. It has a ways to go down first.  ;)

Maybe it will explode next year.. not this year.

i think it will go down a ways and stagnate a bit before exploding into a magnificent bubble of unforeseen proportions!!!  8)

Hehe, i can't wait for 7-figure bitcoins! just a few years, huh??!  :D

Hopefully a few years :)

1000% increase every year is not going to happen!!. But I think it would hit USD 1000 in year 2017 but not a million.

This would happen only if the whole world is using Bitcoin as their main currency. So no, stop dreaming :)

it will explode  :o

Nice graph.

However the question is: What happens in Bitcoins Heaven?

War with the mortals and the demons of the past of course

The only way I could see that happening is if the value of the US dollar went plummeting/ crazy inflation.

I know, it's not very realistic.

This guy is ridiculous!! Bitcoin will easily hit $2,000,000USD/BTC by the end of 2017. This guy does not know jack about how finance works.

Just a quest to world domination  :D

Don't think we can do 1000%? How about 30000% instead? It's already happened with other investments, watch the vid.

http://m.techcrunch.com/2013/09/10/disrupt-sf-13-bitcoin-panel/

To the moon!!!  :D

It only take 3 months to reach Bitcoin heaven, not 4 years :)

Ha-Ha that would be this case
US does not solve debt crisis and defaults on debt causing an economic cycle in the EU and other countries except North Korea (lol) to go into a recession and depression.
People rush to Bitcoins fixed supply and Gold :P

Really? Did you know that the gas will cost $100 per gallon by then?  :P

It is exploding, look at btc-e.com

i forgot to buy some coins last week !

http://gspot.in/wp-content/uploads/2013/05/shocked.jpg

Still in its infancy, if Bitcoin takes hold with the mainstream so that 1000x as many people as now are using it...who knows how high it can go.

Even more baffling then the graph is how seriously everyone is taking this, look at that OP's trust rating!

His rating is

-7: -2 / +0(0)
Warning: Trade with extreme caution

But I believe the graph has been made for fun purpose, because hardly anyone can expect exponentional growth forever

Aw come on - I'm about to sell them...
..and buy back bitcoins.
more bitcoins.

Nice 1, good luck with sales

The Internet grew "exponentially" for at least eight years...

South park - The ladder to heaven http://www.youtube.com/watch?v=XOXfzR85dAc

i was hoping it to drop and then get into the game

Watch out, a drop may be incoming, certainly if the price reaches anywhere near 200

Did it exploded already?

Not even started. ;D

good to hear that lets hope it wont pass 200

if it reaches 1 000 000$, then Lazlo's pizza will be 10 000 000 000$  ;D ;D

You need to buy more ? Act fast, not much time left if you wont buy above 200  :)

The recent news looks very good for Bitcoin future

I believe 2 000 000$ pizza is creazy enought. And 2 000 000$ is a fact already, based on 200 USD/BTC

'Cause I'm T.N.T. I'm dynamite
(T.N.T.) and I'll win the fight
(T.N.T.) I'm a power load
(T.N.T.) watch me explode

well, op was kinda right, considering thread-title.

After carefully accessing this thead, I have conclusion regardng the original OP;

Correct.BTC
Avante Graphtard

2020, 1 G$

Seems legit to me

Well, OP was right, I guess. Bitcoin did explode a month later.... question is, will we reach $1000 next year? Some people think we are going to reach $1000 on this rally -- not sure about that -- but I definitely have a few coins to sell at $1000 if we get there soon.  8)

We all do if $1000 happens soon.
This makes me confident we will not see $1000 soon. Sorry

if your chart is correct i can't wait for bitcoins heaven

I can see Saddam looking at bitcoin now
(Does not specify the direction XD)

I think this price will come faster than expected. The rich boys are standing up and taking notice and the number of request I have had about BTC keeps coming, from older white guys in the financial sector - So I expect that 1,000,000 will be here faster than we all think.

https://bitcointalk.org/index.php?topic=285771.msg3055867#msg3055867

actually, i get a little nervous that it will happen faster than we can get the party set up... 

I think exactly the same. And 1k will be in a (very) long time !

When 1 Satoshi = 1 cent =  1 BTC =  $1,000,000

Bitcoin is a deflationary currency it should rise in value to good and services over a long period of time like gold.

Dollars are an infationary currency they will fall in value to good and services over a long period of time like every fiat currency.

http://dollardaze.org/blog/posts/00747/ValueOfOne1913Dollar.png
http://dollardaze.org

But 1 satoshi will never be 1 cent ...

Energy prices are rising 10% per year. The cost of everything doubles pretty much every decade.

Bitcoin should rise with enery inflation as it's made with energy.

That's what backs it's value, cost of production, like gold.

And?
No one will pay 1000k usd for a bottle of water.
No one will pay 1000k usd for a virtual crap that can disappear at any time.

Why? because they will only pay $200?

Dude, people in Japan pay Y1,000,000 for car. Everyone's a millionaire!

When I was a kid it cost £0.10 to ride on the bus, now it costs £2.80
The house I live in cost £18k in the 1980s now it costs £150k

Inflation is an amazing thing, it's a stealth tax, it steals peoples savings without them noticing.

Bitcoin is the reverse of this.

In Zimbabwe everyone is a trillionaire. :D

http://upload.wikimedia.org/wikipedia/commons/thumb/3/3e/Zimbabwe_%24100_trillion_2009_Obverse.jpg/320px-Zimbabwe_%24100_trillion_2009_Obverse.jpg

Haha, this is has been my thinking exactly, pretty much. Everyone seems so uber bullish at this point -- the top can't be too far off!  :-\

Join the fogies' club! ;D I still have fond recollections of the £0,09 bus fare every Monday arvo when school finished late.


In fairness, that is only partly inflationary. British house prices really have skyrocketed since Thatch encouraged more home ownership in the '80s - you can prove this by comparing the average UK house price to gold/silver, and it has at least tripled.


+1

While it would not be proper form to ram alternative political viewpoints down the throats of my more, let us say statist friends, I have been gently attempting to persuade them that central banking is intrinsically evil (regardless of your political persuasion), and inflation is a tax that transfers wealth mainly from the middle classes to rich banksters, and often directly or indirectly subsidizes warfare and other ugly shenanigans.

wow, their money rocks. reminded me of this one:

http://www.discoverasia.com.au/images/editor_images/china/650_bu_GoldenRock.jpg

We are watching this money historical revolution !

so, bitcoin is now exploding. where's the top, everyone????  ???

The parabola hasn't even begun the pre-start routine to its warmup yet. ;D

maybe. i think the Chinese might take us to 10,000 CNY...... or maybe only 1200! who knows? none of us do!

Old Highscore + 15-35%
But for now I would be happy with 225 usd

Probably 200-250 before bubble burst.
The speed the price is increasing does not feel good, it may happen anytime. At least history showed it works this way

Its going to crash, take your profit away while you can...

$500 would be the top, getting ready to unload my BTC...

time for altcoin pump :) Btc top here

So, I wonder if we're going to clear the $250 mark this time. Last time we got there, Gox crashed horrifically and that seemed to have a pretty dramatic effect on the value. The load is spread much more evenly across exchanges now, so I imagine that will be much less likely.

Interesting times ahead, indeed.

Haha, the old [supposed] Chinese curse. ;D

The Chinese alone can take this baby to five figures if they wish. Note, I'm certainly not saying that will happen.

Haha, getting ready to do that...

Well, it is indeed exploding. Perhaps a bit later than you anticipated on, but you were quite right :D

This is weird, why would they have rocks in their dollar..

Its likely to happen, so selling part of your Bitcoins seems good idea, lets see if we can pass all time high 266 or not

I wouldn't say it would crash and stay like that. As Bitcoin is still in demand. But, this could be one of those bubbles where the price shoots up fast and goes down just as fast or even quicker. Selling your coins could be a good idea. But, I'm not doing it.

I like to ride it up and down.


*That's what she said.*

https://i.imgur.com/4NKXJMY.jpg
I knew it would happen

The chart looks a bit outdated though, lol
The date is May 18, 2013

Hahaha, although its outdated but funny some how..

it would be nice to have the value of BTC going to 1,000,000 per 1.
i think it more likely to happen in year 2028.

just my 2 cents