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Title: $10,000 by 2016 very likely Post by: Elwar on November 28, 2013, 08:42:24 AM 1 Bitcoin will be worth at least $10,000 by 12/31/2016
Success of this bet will occur if 1 Bitcoin is valued at $10,000 or more on one of the largest exchanges of the time (based upon top 4 trading volumes/day). The $10,000 is in Federal Reserve Notes (US dollars). Info Opening date: April 14, 2013 Bet deadline: Dec. 3, 2016 end of day Eastern Time Event date: Dec. 31, 2016 end of day Eastern Time Category: Economics Total agree bets: 0.90 Total disagree bets: 0.90 Total weighted agree bets: 27663.920 Total weighted disagree bets: 28514.809 http://betsofbitco.in/item?id=1532 1 to 1 bet right now, put your bet in to double your bitcoins when it reaches $10k Title: Re: $10,000 by 2016 very likely Post by: beetcoin on November 28, 2013, 08:46:27 AM that looks like a good bet to me. high likely that it will reach $10,000.. at least more than 50% chance in my opinion.
so this is the futures market that i was asking for. i wonder if this has killed business for intrade.com? Title: Re: $10,000 by 2016 very likely Post by: panck4beer on November 28, 2013, 09:20:04 AM The only thing Im afraid is if betsofbitco.in will be working in 3 years
Can this bet be resolved sonner than Dec. 31, 2016 ? Title: Re: $10,000 by 2016 very likely Post by: bitleif on November 28, 2013, 09:38:37 AM Does this include the chance of a hyperinflationary scenario in the USD by 2016? I don't view that as very likely, but possible.
Title: Re: $10,000 by 2016 very likely Post by: eindbaas on November 28, 2013, 09:57:32 AM The only thing Im afraid is if betsofbitco.in will be working in 3 years hello ausieoutlaw :DCan this bet be resolved sonner than Dec. 31, 2016 ? Title: Re: $10,000 by 2016 very likely Post by: NUFCrichard on November 28, 2013, 10:01:59 AM The way the market moves nowadays $10000 in 2014 doesn't seem impossible.
Imagine if a big name moves into Bitcoin, like Western Union or alike... Title: Re: $10,000 by 2016 very likely Post by: beetcoin on November 28, 2013, 10:47:13 AM The way the market moves nowadays $10000 in 2014 doesn't seem impossible. Imagine if a big name moves into Bitcoin, like Western Union or alike... if a big name like western union jumped into the game, it would be funny because they'd probably fall fIat on their face. i think a lot of people would be against it since most of us here are anti establishment. Title: Re: $10,000 by 2016 very likely Post by: seanneko on November 28, 2013, 10:57:04 AM The way the market moves nowadays $10000 in 2014 doesn't seem impossible. Imagine if a big name moves into Bitcoin, like Western Union or alike... Considering we added $1000 to the price in just ONE MONTH, it's certainly possible to hit $10k next year. At the current rate of growth we could hit $14k by Dec 2014. Title: Re: $10,000 by 2016 very likely Post by: bitleif on November 28, 2013, 11:13:16 AM The way the market moves nowadays $10000 in 2014 doesn't seem impossible. Imagine if a big name moves into Bitcoin, like Western Union or alike... Considering we added $1000 to the price in just ONE MONTH, it's certainly possible to hit $10k next year. At the current rate of growth we could hit $14k by Dec 2014. Extrapolating an exponential curve is pretty dangerous though. Title: Re: $10,000 by 2016 very likely Post by: seanneko on November 28, 2013, 11:32:20 AM The way the market moves nowadays $10000 in 2014 doesn't seem impossible. Imagine if a big name moves into Bitcoin, like Western Union or alike... Considering we added $1000 to the price in just ONE MONTH, it's certainly possible to hit $10k next year. At the current rate of growth we could hit $14k by Dec 2014. Extrapolating an exponential curve is pretty dangerous though. Absolutely. Is it really an exponential curve though? I just zoomed out to a 12h chart and the November rally pretty much looks like a straight line on the linear chart. Title: Re: $10,000 by 2016 very likely Post by: Gordonium on November 28, 2013, 03:41:56 PM Will probably happen in 2014
Title: Re: $10,000 by 2016 very likely Post by: Hawker on November 28, 2013, 03:56:45 PM Will probably happen in 2014 Atlas you have been here since the beginning. How many Bitcoin do you have stashed away? Title: Re: $10,000 by 2016 very likely Post by: Sindelar1938 on November 28, 2013, 03:58:28 PM Yep, very likely outcome
Title: Re: $10,000 by 2016 very likely Post by: I_bitcoin on November 28, 2013, 04:00:37 PM Will probably happen in 2014 +3.14159 It's the circle of life and it moves us all. Title: Re: $10,000 by 2016 very likely Post by: Gordonium on November 28, 2013, 04:08:35 PM Will probably happen in 2014 Atlas you have been here since the beginning. How many Bitcoin do you have stashed away? I am not Atlas. Title: Re: $10,000 by 2016 very likely Post by: Hawker on November 28, 2013, 04:25:43 PM Will probably happen in 2014 Atlas you have been here since the beginning. How many Bitcoin do you have stashed away? Atlas posted in the newbie section under another new name a few months ago. He said he gave up bitcoin and started meditating or some shit. Sorry Gordonium. And wow! He timed that well didn't he! Pity as I used enjoy his threads in the Politics forum. Title: Re: $10,000 by 2016 very likely Post by: bqxpd on November 28, 2013, 04:56:07 PM if a big name like western union jumped into the game, it would be funny because they'd probably fall fIat on their face. i think a lot of people would be against it since most of us here are anti establishment. This is actually one of the inevitable psychological challenges faced by members of every subculture as their shared interest begins to go mainstream. If Bitcoin really has the broad utility we all think it does, it's only a matter of time before people and organizations most of us disapprove of begin benefiting mightily from "our" beloved cryptocurrency. That's going to feel particularly galling in the case of banks and other traditional money transmitters, but there's no avoiding it if broad adoption of Bitcoin really is in the cards. Title: Re: $10,000 by 2016 very likely Post by: TheD1ceMan on November 28, 2013, 05:43:04 PM we will see 10k in 2014
Title: Re: $10,000 by 2016 very likely Post by: jerelimZ on November 28, 2013, 05:56:28 PM No one betting?
It is safe bet except I would preffer escrow Title: Re: $10,000 by 2016 very likely Post by: romerun on November 28, 2013, 08:44:29 PM Meh 10k that's for sure but 100k by the end of 16 this is interesting
Title: Re: $10,000 by 2016 very likely Post by: beetcoin on November 28, 2013, 08:51:35 PM No one betting? It is safe bet except I would preffer escrow i would bet but i don't know how trustable the site is. it's sitll the wild wild west right now, so not that safe of a bet. Title: Re: $10,000 by 2016 very likely Post by: jubalix on November 28, 2013, 10:40:34 PM The way the market moves nowadays $10000 in 2014 doesn't seem impossible. Imagine if a big name moves into Bitcoin, like Western Union or alike... Considering we added $1000 to the price in just ONE MONTH, it's certainly possible to hit $10k next year. At the current rate of growth we could hit $14k by Dec 2014. Extrapolating an exponential curve is pretty dangerous though. not on a log graph its not, having said that I think we should only be at $300 right now, $1k stable would be about may 2014 Title: Re: $10,000 by 2016 very likely Post by: byronbb on November 29, 2013, 12:59:23 AM we will see 10k in 2014 This is very possible. We could be at the same stage as the first bubble. Can you buy 100m in btc? Not easily. Is it probable one person wishes to do so? 100% yes. Title: Re: $10,000 by 2016 very likely Post by: c0ldfusi0nz on November 29, 2013, 01:34:57 AM Last I heard, betsofbitco.in was run by LukeJr who is a well respected forum member and a core developer. You're not likely to find a more trustable bitcoin service. Feel free to correct me if I'm wrong.
Title: Re: $10,000 by 2016 very likely Post by: jballs on November 29, 2013, 01:59:00 AM The way the market moves nowadays $10000 in 2014 doesn't seem impossible. Imagine if a big name moves into Bitcoin, like Western Union or alike... Considering we added $1000 to the price in just ONE MONTH, it's certainly possible to hit $10k next year. At the current rate of growth we could hit $14k by Dec 2014. Extrapolating an exponential curve is pretty dangerous though. Not as dangerous as shorting one. ;) Title: Re: $10,000 by 2016 very likely Post by: mestar on November 29, 2013, 02:03:38 AM Power usage of the whole network, it grows depending on the Bitcoin price.
Who pays for this power usage? Title: Re: $10,000 by 2016 very likely Post by: wobber on November 29, 2013, 02:08:01 AM Make it more interesting. Put it 2014
Title: Re: $10,000 by 2016 very likely Post by: jubalix on November 29, 2013, 08:42:43 AM Power usage of the whole network, it grows depending on the Bitcoin price. Who pays for this power usage? Peercoin solves this issue Title: Re: $10,000 by 2016 very likely Post by: notme on November 29, 2013, 01:34:05 PM Power usage of the whole network, it grows depending on the Bitcoin price. Who pays for this power usage? Peercoin solves this issue By replacing mining with proof-of-stake, only the votes of the wealthy nodes count. I don't know about you, but I don't like to keep a lot of funds on a public mining node. Title: Re: $10,000 by 2016 very likely Post by: philip2000uk on November 29, 2013, 01:41:18 PM 1 Bitcoin will be worth at least $10,000 by 12/31/2016 WTF! I'm not waiting till 2016 to get my $155,000 more like 2015 for $155,000Success of this bet will occur if 1 Bitcoin is valued at $10,000 or more on one of the largest exchanges of the time (based upon top 4 trading volumes/day). The $10,000 is in Federal Reserve Notes (US dollars). Info Opening date: April 14, 2013 Bet deadline: Dec. 3, 2016 end of day Eastern Time Event date: Dec. 31, 2016 end of day Eastern Time Category: Economics Total agree bets: 0.90 Total disagree bets: 0.90 Total weighted agree bets: 27663.920 Total weighted disagree bets: 28514.809 http://betsofbitco.in/item?id=1532 1 to 1 bet right now, put your bet in to double your bitcoins when it reaches $10k Title: Re: $10,000 by 2016 very likely Post by: mestar on November 30, 2013, 12:10:54 AM Power usage of the whole network, it grows depending on the Bitcoin price. Who pays for this power usage? The miners. No, its the speculators who bought miners' coins on the exchange that actually end up paying for it. Title: Re: $10,000 by 2016 very likely Post by: ixne on November 30, 2013, 12:19:55 AM Power usage of the whole network, it grows depending on the Bitcoin price. Who pays for this power usage? The bitcoin network is hashing about 100x more than the top 500 supercomputers combined. If miners aren't making enough to clear their electricity bills, we can afford to lose some hashing power. Title: Re: $10,000 by 2016 very likely Post by: pand70 on November 30, 2013, 12:29:04 AM 10k by 2016 seems a pretty safe bet to me. I wonder how the op came up with the odds
Title: Re: $10,000 by 2016 very likely Post by: hope4me on November 30, 2013, 12:52:28 AM Power usage of the whole network, it grows depending on the Bitcoin price. Who pays for this power usage? The bitcoin network is hashing about 100x more than the top 500 supercomputers combined. If miners aren't making enough to clear their electricity bills, we can afford to lose some hashing power. This. Every miner has to decide if it is worth to mine. If not, shut your miner. Title: Re: $10,000 by 2016 very likely Post by: Elwar on November 30, 2013, 07:33:57 AM 10k by 2016 seems a pretty safe bet to me. I wonder how the op came up with the odds I submitted the bet earlier in the year when we reached around $100/BTC. I figured we were hitting a 10X price increase per year so I figured we would hit $1,000/BTC some time in 2014 and hopefully $10,000 some time in 2015. I added a year to hedge against a slow year. The bet does not need to go until 2016 if we reach $10,000/BTC then the bet ends. Title: Re: $10,000 by 2016 very likely Post by: beetcoin on November 30, 2013, 05:08:56 PM it's either giong to be close to $0 or $10,000 by 2016 i'd say. there's no in between.
Title: Re: $10,000 by 2016 very likely Post by: piramida on November 30, 2013, 06:21:35 PM OR it will get stuck at $1222 forever. Bitcoin found it's stable position. Whoever worried about it being volatile and unsuitable for commerce - well, go do your commerce now :)
Title: Re: $10,000 by 2016 very likely Post by: BittBurger on November 30, 2013, 07:36:14 PM OR it will get stuck at $1222 forever. Bitcoin found it's stable position. Whoever worried about it being volatile and unsuitable for commerce - well, go do your commerce now :) Lets hope not :)Title: Re: $10,000 by 2016 very likely Post by: JTrain_51 on November 30, 2013, 07:38:01 PM Im sure that everyone in the bitcoin community will sell once it hits 10k thoy
so as soon as bitcoin goes up please don't get pissed if it drops once it hits 5k Title: Re: $10,000 by 2016 very likely Post by: KFR on November 30, 2013, 07:57:10 PM Im sure that everyone in the bitcoin community will sell once it hits 10k tho... That's precisely what people said about $1k. Yet there's plenty of us still holding. ;) Title: Re: $10,000 by 2016 very likely Post by: pand70 on November 30, 2013, 08:18:07 PM 10k by 2016 seems a pretty safe bet to me. I wonder how the op came up with the odds I submitted the bet earlier in the year when we reached around $100/BTC. Ok i didn't knew how your site works. Apparently there isn't any real odds making anyway :P Title: Re: $10,000 by 2016 very likely Post by: jubalix on November 30, 2013, 08:18:40 PM Power usage of the whole network, it grows depending on the Bitcoin price. Who pays for this power usage? Peercoin solves this issue By replacing mining with proof-of-stake, only the votes of the wealthy nodes count. I don't know about you, but I don't like to keep a lot of funds on a public mining node. you dont have too keep all your funds there Title: Re: $10,000 by 2016 very likely Post by: notme on November 30, 2013, 08:24:38 PM Power usage of the whole network, it grows depending on the Bitcoin price. Who pays for this power usage? Peercoin solves this issue By replacing mining with proof-of-stake, only the votes of the wealthy nodes count. I don't know about you, but I don't like to keep a lot of funds on a public mining node. you dont have too keep all your funds there How do you prove your stake without a private key? Title: Re: $10,000 by 2016 very likely Post by: cr1776 on November 30, 2013, 09:27:30 PM Im sure that everyone in the bitcoin community will sell once it hits 10k tho... That's precisely what people said about $1k. Yet there's plenty of us still holding. ;) And 10. And 1. :-) Title: Re: $10,000 by 2016 very likely Post by: jubalix on November 30, 2013, 09:27:46 PM Power usage of the whole network, it grows depending on the Bitcoin price. Who pays for this power usage? Peercoin solves this issue By replacing mining with proof-of-stake, only the votes of the wealthy nodes count. I don't know about you, but I don't like to keep a lot of funds on a public mining node. you dont have too keep all your funds there How do you prove your stake without a private key? if you have 100 coins, 10 on the mint address, 90 on a non mining address. Title: Re: $10,000 by 2016 very likely Post by: exstasie on November 30, 2013, 11:12:20 PM Im sure that everyone in the bitcoin community will sell once it hits 10k tho... That's precisely what people said about $1k. Yet there's plenty of us still holding. ;) I'm going all in on this...only spent very little on BTC, and have made a significant profit so far...but since I really have no risk, i'm either going until its worth millions, or bust! Title: Re: $10,000 by 2016 very likely Post by: GriTBitS on December 01, 2013, 08:50:45 AM Im sure that everyone in the bitcoin community will sell once it hits 10k tho... That's precisely what people said about $1k. Yet there's plenty of us still holding. ;) I'm going all in on this...only spent very little on BTC, and have made a significant profit so far...but since I really have no risk, i'm either going until its worth millions, or bust! I agree! Go big or Go home! Also why sell, we own the worlds future wealth! The world fiat collapse is upon us. Every guru out there will be talking about how bitcoin is so incredible because of its hard limit and that its genius. The same fools that are saying its not backed by anything and has no intrinsic value! They need to quit looking at the dollar signs and realize even if it went to zero people would still be mining it and trading it amongst the community. All those financial gurus are sheep, throwing darts at a board. Title: Re: $10,000 by 2016 very likely Post by: beetcoin on December 01, 2013, 08:55:18 AM retirement or bust! i will hold on for a while too.. but we are probably still years and years away from me reaching retirement level. i barely have any coins :D
Title: Re: $10,000 by 2016 very likely Post by: notme on December 01, 2013, 08:58:31 AM Power usage of the whole network, it grows depending on the Bitcoin price. Who pays for this power usage? Peercoin solves this issue By replacing mining with proof-of-stake, only the votes of the wealthy nodes count. I don't know about you, but I don't like to keep a lot of funds on a public mining node. you dont have too keep all your funds there How do you prove your stake without a private key? if you have 100 coins, 10 on the mint address, 90 on a non mining address. Perhaps I'm missing some detail of proof of stake, but doesn't it need 50% of coins to agree on the block? If everybody kept 9/10ths off their mining node, how would a block ever be created? |