Bitcoin Forum

This all feels a lot like what happened after Silk Road was busted.

The price was around $120, then crashed down to around $90/BTC. The media hailed it as the end of Bitcoin.
The next day the price came back up to $120 and kept climbing. The media still kept talking about how Bitcoin was finished.

Within two months, the price of Bitcoin was over $1,200.

Now after MtGox goes away.
The price was around $550 then crashed to around $400/BTC. The media hails it as the end of Bitcoin.
The next day the price comes back up over $550 and keeps climbing. The media still keep talking about how Bitcoin is finished.

Within two months, price of Bitcoin over $5,500?

possible but i dont think we will see $5k till summer

“Be fearful when others are greedy and greedy when others are fearful”

― Warren Buffett

"Cheesburger in paradise."

-- Jimmy Buffett

You arent really promoting yourself as being so knowledgable with that quote in this context.

I think it depends on the reality of the 750k btc... If its truly gone and sold off then all dips qre priced in and we have a supply shortcome ehich exasbarates price inclines. if someone has those 750k I dont expect price to rise that far that fast.

"In a Gadda da Vida honey..."

--Iron Butterfly

Hell....it's about time.  ;D

doo bee doo bee doo bee doo

- Sinatra

I'm the scatman

Ski bi di bi di do bap do
Do bam do

Bada bwi ba ba bada bo
Baba ba da bo
Bwi ba ba ba do

- Scatman John

Sometimes when I close my eyes, I can't see...

-Confuseyouz

What I think is intresting to see, is that if the ones getting burned on the Gox incident, are going to rebuy some of their stash back, or just get out of bitcoin.  Because there must be people who lost all their bitcoins, and still they realize bitcoin huge potential. So this might start the next mini rally, before the big investors jump in.

Totally agree.  The time of agressive game is coming as people who lost theit money are now fearless cause they've already lost a lot and going to do everything in all their might

But if the gox coins are really gone, they got 2 choices, either give up, or buy more. The latter choice will bring loads of more demand to market.

"Size only matters when you're full grown, baby!"

-- Duke Nukem

http://www.the-games-blog.com/wp-content/uploads/2014/01/duke-nukem-forever-demo-wkrotce_1743b.jpg

Is bitcoin full grown yet? Hell no!

edit:
fixed a typo

No way.

It is already tanking hard for people to invest into this so much uncertainty.

 

"Bubble, bubble, bubble POP!"

- HYUNA

Elwar u will cry a sea of ur own blood

CRY

CCMF!

"The bitcoin price goes down sometimes, but then goes back up later."

-Proudhon

$5500 this year is completely delusional. I really hope someone ends up posting my response to prove me wrong, but thinking that will happen is, again, delusional.

"$5500 this year is completely delusional. I hope really someone ends up posting my response to prove me wrong, but thinking that will happen is, again, delusional."

-chesthing

To be fair people were saying 1200 was delusional.

Wouldn't it make more sense to repeat my post after it has hit $5500?

Prediction is very difficult, especially if it's about the future.
(Niels Bohr)

Like every other ATH before, the next one will leave us all with our chins dragging on the floor.

Exactly. No use trying to pretend you are a crystal ball reader.

Honestly I think the price of bitcoin could easily hit $5000 if any of the following occur:

1) A country in financial trouble adopts it
2) Merchants rapidly adopt it as a payment option
3) Becomes easily spendable in brick and motor stores (IE QR code scanning to pay for your shirt/beer/groceries etc)
4) There is collapse of a major currency
5) There is massive inflation or "quantitative easing" of a fiat currency

IMO stating that bitcoins will never hit $5000.....is.....well, delusional :D

Let's revisit this thread at the end of the year.

People were saying 100 USD was delusional...

According to my theory here: https://bitcointalk.org/index.php?topic=470453.msg5398380#msg5398380 , you won't see an ATH at 5500 until the longterm trend line reaches 5500/4.48 = 1227. This won't happen before August.

Your theory needs to use 1337 to be even cooler.

people probably thought $1 was delusional back when price was $0.01

1337 will bring us to 6000  ;D

What if the next ATH... is $1243.

but... is that confirmed?

Confirmed.

can you confirm the source ?

It makes sense to quote a post before it's deleted.

It also makes nonsense (in a good way) to expand a thread meme (quoting "wisdom" from "famous" investors), but I dishonor the effort by trying to explain it.

F7FY

next year ;D

After more than 900 posts and still not knowing how Bitcoin economics works...pffff. Troll more?


This is more a decent respons that i agree with.

There's an Indy 500 joke in there somewhere, but it'd be a lot of work.

I checked this out on Wikipedia, and it said the Duke of Trollmore was a 12th century hunchback known for eating sheep during the full moon.

Then I tried to find the Troll Moors on Google Earth, but it kept redirecting me to Google Middle Earth.

yep, but maybe proudhon wan't to avoid the possibility of you deleting your own post. just a guess.

"wa not"
 - sickpig

:P

edit1: sure he would have sign the quote with one of his private key :)

The difference between .01 and $1 is less than a dollar. The difference between $600 and $5500 is $4,900. I hardly think these compare. I hope to hell I am wrong, because I will be holding btc. I'm just hoping it hits a grand again this year.

'All you can eat"

-Buffet

To maintain that price, 25 * 6 * 24 * 5500 = $19,800,000 a day of new mined coins will need to be bought.  Doesn't sound like a huge amount really.

The exchanges are a small percentage of the Bitcoin economy. It is only there that the price is determined. Not the mined coins.

If you and I are the only people exchanging oranges for apples and all other apples and oranges are stored, if you give me 100 oranges for 1 apple...then that will be the price for all others.

People are quick to complain about the hoarding of coins, then bring up the "cost per day" required to pay for mined coins. The only thing to change the price is the amount of dollars and bitcoins going into the exchanges.

When we start playing at that level, you can bet we'll play among some big players and at big stage. It would be about at time when big players would own big Bitcoin businesses and would have no problems to support the price to gain maximum dollars from their Bitcoin businesses.

$0.01 and $1 is the same thing as $1k and $100k

they are just numbers

Just think of equal amount of fiat... 0.01 to 1 is at 21M $ at max... Where as 4900$ change is 55,8 billion dollars for 12,4 million coins...

That is slight difference...

What do you think the catalyst will be for this jump? Ukraine? UK adoption? End of MtGox? A new technology using the blockchain (hint: see my sig)?