Bitcoin Forum

Just thinking... We are in a bearish market for almost a year now. Can we sustain another 10x price increase in 2015? Or are those days gone forever?

I can't see anything good in the market right now. All good news have no effect on the price, which stagnates for about 2 weeks.

Yes.

Can it? Definitely! Will it? Maybe... Probably? Who knows. At this point in time, at $379 I'm quite optimistic and almost certain that we will see $4000 at some point. I don't think it will be this year, but maybe next year or the year after that. Things take their time sometimes. Just look back at the dull charts back in 2012!

I might be crazy for thinking this but given the sentiment in the market, declining interest in Bitcoin due to declining prices and the low volume we have, it think that if we were to enter another rally many will miss the train. Or I should say that very few will be on board.

And things get nasty when you have a desperate mob running to catch a high-speed train where the few passengers ride drinking soft wines and eating caviar. Just thinking...

I really like to think that bitcoin will rise sharply... with more and more people accepting it as a form of currency there will be more demand. We all learned in our Economics classes in High School that with more demand, comes a rise in value. That is if demand increases faster than supply which it is.

Well, the rising price, media attention, and increasing interest effectively fuel one another. It is often difficult to pinpoint the exact cause of a rallye, but as soon as the media attention goes up, we see a strong surge in people who become interested in Bitcoin. It has always been this way, it seems. We just need another train to start somehow, and the rest will follow.

My uncle made 5 million dollars investing in a local casino back in the 90's.  He believed in the business model and saw the value.  He regularly bought more shares as the price went down for unknown reasons.  At one point, he was down 90% and the only reason he held was there wasn't much to sell relative to his original investment.  He rode this roller coaster for 10 years until finally they received a takeover bid from Penn gaming in early 2000's.  It was extremely stressful but paid off in the end.

Making big money is NOT EASY.  It takes time.  You must try to identify something of value and keep on investing and HODL!! If you cant take the risk, go buy Walmart stock or Alcoa and get 5-7% a year.  If you wait for Bitcoin to become a SAFE investment, the real money will have been made already.

To make REAL money, you NEED RISK.

Yup. That effectively sums it up. The thing is: We don't know whether Bitcoin will (ever!) be the winner or even remain alive at all. But if you are intrigued by the technology and the political and economical consequences it has: Make up your mind and decide what you are willing to invest (and thus also lose completely!!!) - then act accordingly and don't trade on emotions - ever.

This is it right here. I'm a gambling man by nature and I understand that my Bitcoins at the moment are just that...a gamble. I'm in this for the long haul and even if the price were to drop to a dollar, there is no way that I would sell a single one. I'd continue to buy more on the ride down. Then, in 10 years, I can retire at 42.

My uncle made 5 million dollars investing in lottery tickets back in the 90's.  He believed in the business model and saw the value.  He regularly bought more lottery tickets as he continued losing for unknown reasons.  At one point, he was down 90% and the only reason he kept buying lottery tickets was his degenerate gambling addiction.  He rode this roller coaster for 10 years until finally he bough a winning lottery ticket in early 2000's.  It was extremely stressful but paid off in the end...
To make REAL money, you NEED RISK.

---

To make real money, you have to know what you're doing.  What you are describing is called "gambling," and is a great way to lose money.

I think it COULD, but it seems unlikely. The problem is that there has already been a big hype which has reached mass media.
By now, most people have heard about it, and know (vaguely) about it.
For the masses to actually pick it up and start using it, it simply needs to become directly useful. By that, i mean paying in bitcoin should be widely available. It's very quick and easy to pay with your smartphone when you are shown a QR code at the store. And i'm sure such quick method of payment has the potential of becoming very popular, but the stores have to start offering this payment option in the first place.
As of right now it doesn't look like this is going to happen on a large scale anytime soon.

+1

Buying into a business (like a casino) because you see its potential to grow is completely different from buying lottery tickets, which have a pre-determined value that does not change over time.

We need to jump this gap from techie users to facebook/twitter average level users. It's like we're in the apple II days of bitcoin where you can't use the computer unless you use the command line, or the DOS days of PC where you need to know command lines. An average user comes in and they start hearing "decentralized", "blockchain", "private key", "P2P", "cryptography", "cold storage" and all these other words they haven't heard before.  Circle and Coinbase is the way to jump this gap IMO, but with that comes some level of centralization of 3rd parties holding your keys and handling the backend for those that are overwhelmed with trying to understand it themselves.

We will reach a $50 trillion dollar market cap and become the new wealthy elite once people find a reason to start using bitcoin. Are we any further in that regard than one year ago?

Ignoring the fact that the original $5mil uncle story was as real as the one I made up, holding a clearly failing stock & doubling down is actually dumber than "investing" in lottery tickets.
Regardless of whether the "uncle" made $5mil, or lost it.
My point stands.

Point made or not, the uncle has $5mil and you are just a poor schmuck that spends his ENTIRE day on a Bitcoin forum.


Some stupid response in 3...2....1....

Aren't miners leaving and difficulty is actually falling? Seems like the infrastructure is devolving, if anything. Of course, there are more exchanges out there than a year ago, but it seems like there still aren't really any clear incentives for ordinary people to buy bitcoins.

Get back 2 digging ditches, or lrn 2 read :)

http://s27.postimg.org/453fpl043/reading.jpg

*Though your wacky antics will not convince anyone to keep holding this fail, they allow Bitcoin to continue being an excellent store of value.
Lel value 8)

I know what you wrote, you poor schmuck. Unbelievable how easily you can be lured in.  ;D

But we are going to have part ways here, will be putting you on ignore. It's just getting too boring.

One last tip, since you missed out on getting rich with bitcoin, try the following:
http://9x22.com/wp-content/uploads/2014/03/Homeless_man-funny-needs-rich-woman.jpg

http://mylittlefacewhen.com/media/f/rsz/mlfw8841_medium.jpg

You'll be OK, fake fonzie.  Just hold on tight to your BTCeanie BTCabies Bitcoinz :D

Trolling and jokes apart, the amount of money required to pump the price 10 times higher, and sustain it against heavy selling, is staggering. It was easier when the markets were less mature. But now... it can't be done by an handful of individuals. We'll have to wait for systemic demand, like when people are paid in bitcoin for their work and can spend bitcoin for their needs.

It's staggering how far the amount of money involved has already come. A few years ago I would not have believed today's cap could be reached.

The problem is humans mentally adjust to a "normal" price.  If you had asked me if Bitcoins would ever hit $100 when they slumped to $5 range for almost a year after hitting $26 I would have laughed "HAH!".  Compared to any of the richest people in the world, the BTC market is still an infant.  

People are thinking of BTC like stock these days.  $370 per share, 21million shares.   Compare that to Apple with nearly 6 BILLION shares outstanding!

Now consider what an entire currency is worth.  Bitcoin can't be split.  The only option is for the value to increase.  The problem is once we got past the previous ~$1100 high, it will really be completely unknown territory again and its anyone's guess where we will eventually land before it crashes back down.  If I had to guess?  ~$10K peak crashing back down to $2500.  

What we are missing today however is a killer app for Bitcoin.  Once consumer demand starts to match retailer demand the snowball will make today's prices... well seem like $5 again!

It's possible but it's not probable..

I expect the price of bitcoin not increasing too much before I can buy a lot.

May takeanother yr to weed out noobs

There is enough money on markets. QE is digging a grave for the old currency here. But the money are the second step. We need more good news and real business. Also doesnot helpwhen many of the BTC community are simply lazy guys who never did nothing and w8 for 1m/btc. People with money will never believe naive leftists who chase revoltion that will never occur.

So when the value will be seen in BTC, the money will be found at corporations or at markets. When 1st central bank will buy BTC the increase will be bigger than 1yr ago. But that is nowhere close. For now it would be really good if all junkies would use darkmarkets, because it is huge market and on the other side if the fancy-good-for-nothing BTC projects would continue to rise VC and create at least nicer face of BTC.

I think it could, given that the supply of relatively cheap coins will start to dry up once the Silk Road coins are auctioned off and also that the effects of the Mt.Gox debacle seem to be waning. It would also be a matter of making sure there is an easy adoption for the not-so-hardcore users out there, be it an automated exchange app for day-to-day purchases and so on, instead of people having to mess around with first mining or exchanging them via bank transfers. If it's too hard or too much of a hassle for someone to do this, a lot of people will not bother.

TL;DR Ease of use and exchange will be the key to a 10x price increase.

Bitcoin exchange needs either hard cash or authority backing the transaction.

Since the authority can be only multibillion corporation, who does not want to be scapegoat for gvnmt, this option is closed.

So what remains except bank transfers that are almost hard cash? Localbitcoins maybe. Everything else ends in man in the middle scam.

Btw. as relatively new user I can say the bank wire is not the hardest part. The hardest part for normal human is the core. Weird addresses, many new weird terms...

We're at $5 billion market cap at the moment, only a few percent of that is floating around exchanges, say roughly $100 million. The central banks of the US, Europe, China and Japan are printing more that $1 trillion a year at the moment which is flowing into the usual commercial banks and abstract market instruments.

IF (note the big if) 1% of that went onto bitcoin exchanges, that would be $10 billion, or 100x the cash currently on exchanges, which would produce a, roughly, 100x increase in e price. That's just the hot money flowing around at the moment. The money exists, it just doesn't want anything to do with bitcoin at the moment. We'd need some major inflation or another credit crisis to get them interested, I suspect. Japan may end up delivering for us in not so long.

I'm not that much of an uber bull, but the possibility does exist.

Bitcoin 10x price increase,maybe not in 2015.but i hope that's will happen to bitcoin

It's not a question of IF, but WHEN.

Almost everything is good in the market right now, predicting when bitcoin will make its jump is very hard, if it was easy everyone would know when to buy in.  Not only do i think x10 will happen but i can see us doing another double movement like from $10-$266 and then $100 - $1000.

The next bubble will be insanity that we've not seen before.

Well it does seem like it won't happen anytime soon but knowing Bitcoin as soon as that sentiment prevails it will go on a new rally, at least for now the mining has stabilized to the new price level which has been going up since the last price rise so we have an argument for a new trigger to raise the prices again.

Of course we can get an other x10 increase and we will but we are not in the position to have it just yet because we don't have the necessary factors yet.

certainly

We are need open-source exchange for that.

Such exchange that anyone could install on light hosting.
+ decentralized exchange would be too great for this.

An idea too stupid even by this speculation forum standards. You surely didn't put any thought into it before typing did you. Yes, what we need is more amateurish exchanges run by people with no banking ties and no security experience, that is the way to strengthen faith in bitcoin... right....

That is all that exist in the bitcoin infrastructure. 99% of these companies will get shut down when the government comes around & they will add the blockchain to digital dollars.
Read up on it already! 10x increase is literally IMPOSSIBLE.
You have been warned.

my answer is yes, just wait for another year.
Because bitcoin need progress and it's still fragile.

When all people use bitcoin to transfer money around the world with haste & low fee
I'm sure bitcoin will raise

Just watch it :)

When people start to use it as a value transfer medium rather than speculative asset then increase will be in 1000x range not 10x

No, it cannot.

maybe someday will happen, when people tired with bank. price bitcoin up to 10x

It's officially proven, you are stupid. lmfao lmfao

Bitcoin needs a year or maybe two or three years before it is widely used but the price will go up before it is widely used. We just need to know it will likely be widely used soon for the price to go up to 4000$ or more.

Difficulty also fell for a prolonged period back in 2011.

Over what timeframe? I have doubts it will ever ramp up as quickly as we have seen in the past. Moreover, I now consider the last bubble to 1k merely a function of the MtGox willybot fiasco.

In a sudden price rise there will be many looking to sell. Miners who are under a huge squeeze to make ROI might jump at the chance to lock in profits. Many of those caught out in the hype who bought high will be looking to get out (and be fooled twice). Exchange volume is now more distributed. Bitstamp, OK/Huiboi, and Bitfinex are all as large as MtGox was back in the crazy early days, so volatility won't be as high.

This said, bitcoin can go bananas on certain news events. It would have to be huge news of course, Apple, Google, Amazon, the collapse of a currency, adoption as reserve by a sovereign nation; (the poorest countries in the world have nothing to lose by allocating a fraction of their reserves to bitcoin imo).

I do not think we will see the huge 10x price increase in the month timeframe we saw last year. IT might start to steadily rise almost how recently it has steadily declined. I feel around 500 is a decent plateau we might be able to hit in the next month or two depending on bitcoin news. 1000 goal might be a year or so from now unless something drastic occurs.

This sounds more genuine than what I have seen to late about prices sky-rocketing above $2000.00, it is too surreal to see such a price jump on Bitcoin in a short period of time. I personally think Bitcoin will increase like any other investment, these take time and can't just increase sky-high without falling fast.

Reminds me of Pie-Face here in Australia, the company opened up so fast and then went bust because it's growth was just too fast. Now in administration and closing many of their stores, it is a prime example as to what can happen on fast growth.

Earthlings can't comprehend scale.
When Bitcoin's price was a fraction of a cent, a tenfold increase meant one d00d decided to buy a pizza.  Now that the price has climbed by several orders of magnitude, x10 increase is several orders of magnitude less likely.

http://s4.postimg.org/9p4k1hj7x/Capture.jpg

  ~Your Beneficent Reptilian Overlords.

Can you print me here, real - number of alt-coins pools, with free web-registration form?

Can't.

Why?

Because pool - open-source, even web-face for pool is open-source and highly differently modified by everyone. There is p2pool - too open source.

Source of Bitcoin? Yes, here it is.

Who than too stupid? Where is open-source exchange, dear?

A p2p pool can be run on a simple computer.
A stock exchange requires a slightly more expensive infrastructure. One you cannot afford.

A trading platform, exchange requires a license to run when it is considered a stock or currency (which Bitcoin officially is depending on the country).
Why the hell do you think the Winklevoss twins are lawyering there way towards an ETF.

Yes let's allow every unlicensed halfwit run an exchange and rob you blind *cough* gox *cough* ::)

Only need regulation if fiat is involved otherwise u r trading tokens just dont use the word equities or stocks or bonds and your good

$4k is OK.