|
It totally depends on usage, adoption, regulation, legality, other fiat currencies fate's, technology (will the encryption remain unbroken), competing cryptocoins and ASIC mining.
If you can predict all of that then you will have a better idea of where it will be at in 2025.
Let's assume the best case scenaro, it get'S used more and more, is successfully adopted as a crypto currency.. it's value rises to negate volatility, it's declared legal, and the technology remains safe and sound. Also, that it survives challenges from other up and coming cryptocoins. Then you are looking at a very big number,
Assuming all the above in a best case: I'd say anywhere from 100k to 3-400k. But as you can see there are a lot of obsticles to overcome before we can even think about such numbers.
|
|
|
|
|
I think we'll be still hanging around $137 / €103.50
|
|
|
|
|
B&H working ok for me so far then!
I'm going off Gox prices.. and i can't be arsed to convert it into $'s for this posting.. but i paid 780 in total.
Currently worth (volatile figure i know) €1096
1096-780 = 316
316 / 7,8 = 40,5%
Maybe i bought at the right time? I don't know.
I know I have been tempted to trade a little. But I've decided not to. Those 10 BTC have gone into cold storage.
I plan to buy some around the christmas / holiday peiod, (if not before) for trading.
Just a small ammount, under 5, probably 2 or 3 and try to trade that up to 10 BTC.
I want 100 BTC!! but 20 would be a start. I might even settle for 50.
|
|
|
|
|
Ok, similar stagegy to yours.. as in i bought a couple here a couple there but since mid-July.
I'm in europe so i don't have my prices in $ rather €.. but % should be more or less the same.
By my calculations i'm up 40% in that time.. which should be the same as the market, since i'm buy and hold.
|
|
|
|
|
IMO - the title of this article, and theerefore the sentiment it was trying to exlpore is wrong.
eBay endorsing bitcoin.. I'm sorry, i must have missed something.
eBay haven't done anything of the kind. They haen't endorsed ANYTHING.. and have even said their payment methods haven't changed and that it was a purely informational video. On a blog post too i might add.
Nothing to see here move on.
(Also, i'm not surprised it was taken off the site, with the ammount of foaming and frothing at the mouth it has created, not to mention site traffic)
Might also have been for 'testing the waters' purposes. You know, to gauge reation over a short space of time. Kinda like eBay trying to figure out the size of the bitcoin community by posting something on a relaively obscure blog and sitting back to watch the reaction.
At least that's my 2 satoshi's worth on it.
|
|
|
|
I'm not sure why people believe that Gox is going bust though. 0.6% of every transaction from both parties has to add up to a small mountain of cash/BTC, definitely more than they could ever have made from Magic the Gathering cards, that's for sure. They may have lost a lot of cash with the Dwolla incident but I'd expect that they can afford it.
Excellent point MickeyT2008 - I never thought of that. |
|
|
|
|
I'd buy now but wouldn't spend it all on BTC, i'd be tempted to hedge a bit of it into litecoin (a bit) and Silver.
|
|
|
|
All of the movement since the rise on the 31st is still playing out a pretty effective triangle. It did a little break downwards before the big buy earlier, but all of the movement still fits pretty well after that. The triangle's current end will be around September 5th - 6th.
Then what? Drop, or the whale(s) come in making another splash and we go up? |
|
|
|
|
Please forgive such a n00b question.. (but I am a n00b!) --
When i see bid depth like this, quite a bit higher than the ask depth - doesn't this imply the simple priciple of supply and demand.
i.e. - there is more demand than suppply... ergo, price will rise??
At least that is what i assume, please correct me if i am wrong, and a quick / simple explanation too if possible,
(I admit to eing a n00b, i admit i know very littel, but i also want to learn)
[/quote]
Yes and no.
While the law of supply and demand is certainly the driver behind the Bitcoin price, you have to also consider that a lot of people don't have their coins or USD on the exchange right now and that graph only represents people who have staked their position.
What really changes the price of Bitcoin in these early days are the whales (large BTC holders/wealthy individuals). Once you think you know where things are going, a huge whale will splash in out of nowhere and change everything.
Just look at this recent run-up. Nothing on that graph indicated it, and all that happened was some whale came in and bought up a ton of coins out of nowhere.
Right now the Bid depth does indicate buying pressure and thus a higher price, but there could be someone just waiting to put in a massive sell order, changing the whole game. I find this unlikely though, because the (so far) positive talks with US regulators is a HUGE step in the right direction and brings a lot of confidence.
[/quote]
Cool, thanks for the explanation. At least my fundamentals were nearly right.
I have witnssed the large buys of this week, and 1+1=2 jumped to the conclusion that as a result of these positive meetings on Capitol hill, then someone felt confident enough to make a buy.
However, this may not be the case. It could have been someone ith a large $$ reserve on Gox waiting in the wings, and decided to co.incide their buy if a good outcome was reached by those meetings. (think about it, they couldn't have been at the meeting and 2 hours later hav $1M sitting on Gox ready to buy.. how could that happen?)
So, it was more likely someone that had reserves sitting there waiting for the right time.. Coujld it of been an attempt to drive the price up on the back of confidence coming from hese meetings? That's my hunch anyway.
Probably trying to move the price up before dumping large reserves of BTC at their desired price. Pump and dump.. except it hasn't worked.
But we seem to be more or less stable around $130 (95-96 EUR)
In short, who the hell knows whats going to happen next? but i totally find this all very intruiging.
I'm not a day trader by any means.. I'm buy and hold long. So short term flutuations don't annoy me, but thy definitely interest me.
|
|
|
|
Bid side is getting steep again! Another Tsunami on the way?
yes.  Please forgive such a n00b question.. (but I am a n00b!) -- When i see bid depth like this, quite a bit higher than the ask depth - doesn't this imply the simple priciple of supply and demand. i.e. - there is more demand than suppply... ergo, price will rise?? At least that is what i assume, please correct me if i am wrong, and a quick / simple explanation too if possible, (I admit to eing a n00b, i admit i know very littel, but i also want to learn) |
|
|
|
|
Damn, I voted 160 - 170, i actually think it will be slightly higher 170-180
|
|
|
|
That's why TA is more or less useless. Market volume and liquidity is not nearly large enough to make it meaningful.
Bingo. I disagree. If you had (and if you still do) look at just the money flow index, you'll see that the last time we were this close to being overbought in the last 6 months, was the rise to 260. This rise was and is easily predicted through TA. In fact, this rise could actually surpass the BTC all time high but we'll see. My guess, is we're in for some massive gains over the coming days. 200 is going to get run through like nothing. Congrats Bulls! See, I try and take my own advice. Remain calm, catiously optimistic.. and wait until i hear some solid news resulting from today and yesterdays meetings.. Then i read something like this.. and get all excited again!! |
|
|
|
|
Then you got a lot to learn jack!! Welcome to the world of Bitcoin!
Yes it has gone over 200 - it got to 266 in Aprl before crashing back down. Been some corrections since.. but (I'm no ecconomics expert) it seems to me like these corrections have finished now. I've been observing for a few months.. it look like it's on a steady upward curve.
This is just my OPINION - so please do not base any investment strategies on what i say. I know nothing!
My background is in IT, so all these financial terms are alien and new to me, but i'm finding the geo-political and ecconomics angles fascinating.
|
|
|
|
|
Ok - so it's gone over 133 today, but slippping again now.
I still say that roughly, final third of November we will be looking at around $200.
|
|
|
|
Ok, I found this - looks positive, but it's only really soundbites, not a full report. Still better than nothing! http://upstart.bizjournals.com/money/loot/2013/08/26/bitcoin-foundation-talks-to-fed-fbi-more.htmlBottom line - “Entrepreneurs who want to get into Bitcoin should dive right in,” said Vessenes, who serves as the organization’s chairman. “Of all the concerns behind starting a company, regulation should be one of the last.”and - He described his fellow meeting participants, which also included representatives from the Treasury Department, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the IRS as “positive and open, a bunch of reps from different agencies just wanting to learn about Bitcoin." Adding, "Of course they have concerns but that’s to be expected."I want to marry you. I wonder what the banks will make of this... I have a feeling that this is not the last we have heard from the government. Yeah, i'm sure they have to make some sort of statement on this soon, days / weeks.. (probably days). Right now, I'm treating this with catious optimism. I mean coupled with those buys this morning and in the absence of official statements, it's left to us to (speculate) put 2+2 together ourselves. Catiously optimistic. |
|
|
|
Ok, I found this - looks positive, but it's only really soundbites, not a full report. Still better than nothing! http://upstart.bizjournals.com/money/loot/2013/08/26/bitcoin-foundation-talks-to-fed-fbi-more.htmlBottom line - “Entrepreneurs who want to get into Bitcoin should dive right in,” said Vessenes, who serves as the organization’s chairman. “Of all the concerns behind starting a company, regulation should be one of the last.”and - He described his fellow meeting participants, which also included representatives from the Treasury Department, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the IRS as “positive and open, a bunch of reps from different agencies just wanting to learn about Bitcoin." Adding, "Of course they have concerns but that’s to be expected." |
|
|
|
|
This suspense is killing me!!!
I wanna know what happened at that meeting.. and i wanna know what's happening with the one later today.
That kind of volume as someone pointed out, can only mean one thing or the other..
A. Taking a big(er) position or
B. Dumping and getting out before the shit hits the fan.
I hate being a small guy and not knowing whats going on. Obviously someone does know which way the wind is blowing and they're keeping schtum.
Frustration!. If anyone finds out any related news, can they please let us know? - thank you,
|
|
|
|
|
I stand corrected. Sorry, I jumped the gun there a little.
In principle it sounds like a great idea. And I would need to do more reading, but the first issue / question I would have is one of trust.
I mean, how much fiat money / bitcoin would you transfer to some exchange, set up by someone in your country only 5 mins ago?
It's hard to imagine volume in this case. But like i say, i need to read more about it.
|
|
|
|
|
Show Posts
