Bitcoin Forum

Imagine this;
if u could tell someone from 2010 about bitcoins success and fails in future , mt.gox collapse and new markets in china, microsoft,ibm, and rest that are accepting bitcoins,
basicaly everything that happened, but u cant tell them the current price, and let them guess..

What do u think they would say? 100$, 10 000$ ?

If you tell them ebay and microsoft are accepting btc they would think its way higher than current price.

That's what i'm trying to say, it may just be that the people are scared of investing into btc due to mt.gox fail, and all those stolen bitcoins didn't help either.
What if all we need is a bit security added to bitcoins, so that people will feel more secure about their investments...
If u told me that bitcoin is going to be known the way it is known now, i would definetly not say its under 1k usd...

A very interesting question.

Price aside, someone from 2010 hearing all of that would assume it meant that large chunks of the public had embraced it. The reality is that they haven't even started to warm up yet.

Guess is pointless
Most of the time, we trying to be profitable

I am sure they never expected it to go over 10$ in the first place.

The price is really low. If I heard the news without knowing the price, my predictions would be somewhere around $500. I think we have fallen so low due to manipulation, like gox and those multiple chinese bans last year. If any of you remember what was happening in Spring/Summer 2014 you should know what I'm talking about. First we were given false hope every week that Gox will come back and it's just a maintenance period, and every week ended up with an excuse followed by a price drop.

The real manipulation started after the summer 2014. First half of 2014 was mostly panic up and down.

In 2010, the price was only like 50 cents per btc and if they were told these type of news and event that would have taken place, they would expect price to be worth close to nothing, less than few cents I guess. So for them, if they were told it would be $200, nobody would still believe it.

Yeah, it was probably people who would be crying right now, if they had sold it when the price was around 3-4$, thinking at that time, that they made a good 100$ profit on increase. They would have never predicted the potential of growth

Another important issue, when talking about down pressure on BTC price, is the addition of BTC-based derivatives, which also dates back to the 2H2014.
On the other hand, comparing charts for the bitcoin price in $ to a typical chart of a bubble formation, we are now in the post-crash phase finding new equilibrium and actually there is still quite some room to the downside.
 

And yet it is funny how we may look back at this point, where $218.93 look like a terrible point to sell, but potentially also like a possible brink to an even bigger downslide. It'll be interesting looking back at this point in time in, say, 5 years or so!

Nobody even thought the price would even go as high as $10 way back 2010. If I knew bitcoin way back, say I have a couple thousand at hand, I'd be happy to sell even at $3, because in the first place I don't know that bitcoin will make it big, and there's no way in earth (at least in my mind) that this "cryptocurrency" would even reach a price of $10 or more.

Well it actualy is terrible price to sell to all those who bought over that number.
Because the price was at top on over 1200$, and were almost 6x under that number now, so the selloff should finish quite soon.
I believe the next turning point will begin 2-4 months before the next halving, and then dip down again 1 month after halving, but thats pure speculation.
What i wanted to say in this thread is that 200$ seams pretty cheap considering amount of success bitcoin had over the last few years, and many people would agree.

cheers

The problem with people is that they (or we) tend to cling on things that has been recently successful without thinking of the future of what we're trying to get into. I am quite saddened by the fact that most of the people who bought beyond the $500 mark ended up burning themselves. :9

Another question: how would they do the calculation? Would they base their guess based on typical stock prices? Suppose the base unit were one bit (100 Satoshi) from the very beginning instead of one bitcoin (10^8 Satoshi) - would some people guess that a bit would be $100?

I think go to $100 in 2-3 month again

I think that is the most posted information at this point. You'll likely want to see what this bunch has to offer. It's great and worth your while.

Bitcoin is the most secure form of currency, but it's the irresponsibility of the peope that make it look unsafe.

The coins only get stolen because people literally hand their keys to strangers.

if them never know bitcoin before you told them, they just to say "what? any fool would accept it? huh"

But Microsoft etc DON'T accept BTC. They accept fiat. So no, BTC is a fail. No one wants to hold it, they're just trying to make some gimmicky cash while the fad is still around.

Wake up.

http://bitcoincharts.com/charts/chart.png?width=940&m=bitstampUSD&SubmitButton=Draw&r=1460&i=&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=1&p=0&

Behold the exponentially rising "Fad" that's only up 8 Million Percent since inception 5 years ago  ::)

allowing anyone to send value to anyone, anywhere virtually instantaneously for little to no fees and without the need of a middle man  :o

ya but who needs that!?