Bitcoin Forum

I'm no bull but I'm wondering if we could get into such massive speculative bubble and new money that will make a gigantic leap in price.

I'm taking $1,300 as a starting point because it's more than the next major milestone, an ounce of gold. This will certainly make media buzz and the frenzy could begin.

Very rapidly for me would mean somewhere between 1 to 4 months.

Interesting... 60 views and no post. Has this market turned bear? Because I will know what to do: buy! and then buy more!

I hadn't thought about it, but you do raise an interesting point.  I imagine the media will have a fun time with the Bitcoin > gold story. 

$1,300 -> $10,000 is a ~670% increase and really would not be such an insane jump for a four month period.

I'm more interested in whether or not there will be a price correction so steep that money stops coming in for a while, like in 2011/April of this year.

Since history tends to repeat itself, I think you know what I expect.

Also from 1,000,000 to 2,000,000 it's a 100% increase but to get there price would have to go like what, about $5 per minute non-stop for 4 months.

But $5 is 0.0005% of $1,000,000 so by the time we hit that price the spread for a small trader on Gox will be 2*0.6% or $12,000.

Good point notme. Thanks.

Yeah, media outlets will definitely be picking this up. This morning I even read some articles in the papers who have never before talked about Bitcoin...

I too heard some TV stations mentioning bitcoin without being ever a subject on their news.

IMO 1,300$ is more likely to be the crash point. Right now there are about 8k coins to be bought up to 1,300$ (on Gox).
When the sellers will see a significant amount of the bids depleted, they'll know it's time to dump big, or be left holding the bag.

Yesterday, I saw an article on (IT-centric) futurezone.at about Bitcoin surpassing 1000 USD.  (Although they did regular stories since beginning of this year already.)  I'm sure gold parity will bring in a lot of more news stories, though.

Highly likely.
I'm ready with bids at about 600$.

If you want to make money simply do the opposite of what Tzupy says. He's wrong 100% of the time.

I also support this prediction. Also, regular Joes are starting to appear and asking me questions about Bitcoin. I mean literally dudes with no computer background are showing up interest.

Less than 2 yr

Tonight I dreamt that bitcoin crashed from $1000 down to single digits, but jumped up again before I had the chance to buy more. That shit was scary.

No point really in commenting every post done by wanna be psychics speculators.

I had a dream like that recently.  I was watching the price on Bitcoinity and it started dropping non-stop all the way down into negative numbers.  I was in a leveraged trade at the time though.  When my BTC are safe in my wallet, I sleep just fine.

This only shows 0.6% is unsustainable for future trades :)
Hey, you pay high fees and where are your money when you try to withdraw USD from MtGox  ???

Yes, suddenly the Joes are massively interested even though I've been pestering them to buy since 60 $.

If we manage to stay afloat above 1000 $ a few days I believe we will se further growth due to the influx of new buyers. Otherwise correction and lot's of scared pigs.

It's a good point and definitely a milestone, this is also important for major Gold Bugs who so far have rejected bitcoin. Once they see Bitcoin surpass Gold, it will induce a media frenzy + launch a whole new buying craze.

Haha ya it's hilarious to watch.
Eventually he might be right though...i mean he is wrong so many times he has to be right sooner or later  ;D

And he just doesn't see it. He just ignores it and goes on and on...
Poor guy.

Some friends requested me to take their money and buy Litecoins.
They just want to avoid the "complexity" of having to read a bit to install a wallet and
understand the basis.

I am saying "No! I cannot be responsable for your money" and they keep comming "I understand the risks, just do it".
The hell I wont!

It is indeed getting more and more popular ...

That's a bit sell signal for litecoin right there. I think some people will end up in debt because of this litecoin pump and dump. Sad.

Litecoin has proved to be in a close relation with Bitecoin. I think Litecoin has yet to catch up a little bit.
Maybe to a 10 or 15% of Bitcoins value but I wouldnt expect to see Litecoins loosing much value if Bitcoins doesnt.
All I know is I moved 0.5 BTC to LTC and now my LTCs are 2.61 BTCs.
=)

Yes, you're right. I did a similar move and it appears to be a good choice  :)

The only dreams I'm listening to are those of Hyena.  His were right on.

Abount 270 dollars to go! Let's see if it breaks it this (week)end.

It will happen very fast. The fact is that the coins are drying up very quickly on major exchanges, it is just less and less possible to buy some coin without lifting the price. It is almost sold out everywhere

If you consider the amount of excessive fiat money out there (30+ trillion dollars in tax heaven account), any kind of price is possible if a small part of those money start to move towards bitcoin

Price is irrelavent to how "sustainable" a percentage a based fee is.  Most people won't be trading entire bitcoins if we ever reach that price.

Also i just realized that 1300$ is almost 1000€. Maybe this will give an additional buzz

I'm waiting for £1000 or approx $1600 that is a nice milestone for me for Bitcoins. :)

So 1300 will have lots of meanings:

1. More than gold
2. About 1000 €
3. 10 times bigger than the start of the rally.

I think it's a milestone.

The bad news is that it's both a milestone and a psychological barrier and i 'm seeing that more and more lately in the forum and among my friends.

Yeah, they either decide not to buy since it's perceived as to expensive or they go to the altcoins. We need that millibit quick!

Not right away, but after ~2-3 months consolidation it's possible.

Even in that case some people argue that bitcoin will look like yet another cheap shitcoin. It seems like a lose-lose situation.

Can't wait to start seeing http://images3.wikia.nocookie.net/__cb20130708051814/cardfight/images/7/7b/It-s-over-9000-its-over-9000-29849302-496-370.jpg in the Wall Observer thread.

All it would take is two or more mega-whales get in a bit-grabbing race. (The likelihood of this increases as price keeps rising.) I see a spike to the 10K within a few months as being incredible, unlikely...but certainly possible.

On further thoughts, this is not going to happen, since now you can get a bitcoin ASIC miner immediately from BFL and start to mine coins, unless the network difficulty rise 10 times quickly, the money will go into BFL's pocket