Hey, I'm okay with sex parties, I don't consider them bad at all. To each his own. So there will be no sex parties at the castle then  |
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Sex parties? Tell me more.
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Personally, I think that we have to walk before we run, and surely bitcoin, in its short life, has had a truly amazing growth path - which causes these very extravagant predictions.
I understand and appreciate bitcoin fundamentals enough to realize that any of the scenarios are possible - even 10x growth per year is possible.
. . .
I can grasp that 10x is possible and plausible... but seems a bit too much for the infrastructure to absorb into such a short period of time - especially going from $50k to $500k - I have a very hard time envisioning that - however, I do recognize that if any medium size country picked up bitcoin as its national currency, then those scenarios are completely reasonable - and there are a variety of other adoption scenarios that could continue the 10x growth per year for several years into the future.... but somewhere between 2x and 5x growth seems much more within the grasp of the possible.
. . .
I am NOT sure whether this kind of a BTC appreciation model is sustainable, but it does seem possible at some point to enter into a period of an ongoing average appreciation of BTC value somewhere between 10-20% per year.
The price history of bitcoin shows 10x growth per year on average, which is supported by 3.2x average growth in both bitcoin addresses and adjusted number of bitcoin transactions - according to Metcalfe's Law. My own logistic model of bitcoin prices says that this growth rate will continue on average, actually very slightly diminishing, until we reach the midpoint of adoption. We could already be past that point but the preponderance of evidence in my opinion, is that the Bitcoin Economy is far from reaching that point. After the mid point of adoption average price growth rates will rapidly diminish, reaching the levels you mention or lower. Past performance does not guarantee future results but I like your bullish point of vue The number of people knowing Bitcoin, liking Bitcoin, using Bitcoin is growing everyday, way more than the number of bitcoins; world wealth is increasing as well and the western financial system is going down within years Well maybe for a few entitled kids who got everything from their parents it is. But for the majority of the world's population it isn't. The majority of the world population doesn't have a computer, even less people have internet, and most people don't have any money to buy bitcoins with, because they use all their money for food and still they starve. What's your point billysweird? |
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[/quote] How many people have not heard about Bitcoin? I ask people about it all of the time and almost everyone looks at me puzzled and then asks me what it is. Only a couple people have even heard about it. One was very much of a "libertarian" mindset so he had studied it. I live fairly close to Los Angeles so this is a highly populated area in the US and even pretty "high tech." I am starting to see more things in the news though and it is slowly gaining some awareness. But there is no way we are at the "halfway point" yet. I guess if it remains a "niche" currency, perhaps, but there is so many things in the works that it is highly unlikely that happens. [/quote] The marijuana vending machine might steepen the learning curve. http://www.coindesk.com/new-colorado-marijuana-vending-machines-accept-bitcoin/
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No, not the first. But for clarity and simplicity of explanation, you win 2 internet stars and a lollipop.
And thank you for the stars and the lollipop. |
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Does this mean that I am the first to identify a pattern? If so, I wish it to henceforth be known as "the Möller pattern". You may omit the dots if your keyboard is english.  |
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I think there is a pattern, it could be a coincidence, but I'm using it for now. Remember, everything I write is very approximative.
It seems that bitcoin has a seven month cycle from mega bump to mega bump, it also appears to have a super dip about four months from the mega bump, and this super dip seems to be the start of the coming mega bump, with a slow rise the two first months and a steep rise the last month. If this hypothesis of mine is correct we are now leaving this cycles super dip and the next mega bump peek should be around the end of June or beginning of July.
It also seems that the price at the top of the bump is the same as the price in the dip plus a zero, and it seems to stabilize at about half the peak price until the four month super dip. So if this dip's low was 400 USD the peak should be around 4000 USD and it should stabilize at about 2000 USD until the next super dip.
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Isn't opening entrepreneurial academies and startup incubators in developing countries what being a wealthy elite is about? Among other things.
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Is that....Mark Karpelès?
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People just trading and spreading fud. It'll come back to bite them
LOL, I first read "I'll come back to bite them". Yes, I too love the positive people on this thread. |
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Is there any particular reason for the dip? According to fiatleak the Chinese are still buying like crazy.
Personally I think we will soon see the price moving up again, it seems to move in cycles of approximately seven months.
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Thanks  |
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How can a growing number of users not be proof of growth of adoption?
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impressive data in terms of how you collected avg. price points daily though as we see gox is not much suitable for the price, perhaps it should be switched to stamp(or better start weighting price from some point, like November or someting, with decreasing role of Gox) ? Just to clarify, it's not my chart and I'm not the one updating it, I just stumbled upon it in a tread somewhere, bookmarked it, and remembered it now and thought I should share it with you. |
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Totally OT, but funny.
Open Google translate, write ......... and translate from japanese to your language and hit the speaker icon.
I just did and the same thing shows as translation I had been suspicious this is a bad joke The funny thing is the sound, not the translation, listen to the japanese voice. |
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Totally OT, but funny.
Open Google translate, write ......... and translate from japanese to your language and hit the speaker icon.
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