I thought this was well-known, but it is also complete hearsay. Albeit much older heasay. I'll look for the link.

How do we know this isn't just someone OpenCoin paid to say that TradeFortress paid them to say Ripple is a scam? OpenCoin apparently has a history of paying people off, if the leaked email from Ryan Fugger is authentic.

High volatility --> More speculators to buy the dips and sell the peaks --> Low volatility --> More interest from everyday people
--> Price rise --> High volatility ....

Wash, rinse, repeat until $1 million/BTC.

I must agree with some others who said that the elephant in the room, ultimately, is that bitcoins are gold bars you can email (and hide in your brain from everyone), and there are people who want and need this superpower more than almost anything else. Moreover, most such people are very wealthy.

All that is needed is merely for people to notice this fact. Then a landgrab commences.

Strictly speaking, the landgrab has already started, but it is happening in layers because people are awakening to this fact in stages. It doesn't seem it will be long until it is staring every billionnaire in the face, at least.

Let that spring coil just a little longer. Note how amazing a buying opportunity we have now with this shower of continuous good/great news and minimal price reaction. This time you don't even need to try to catch a falling knife. Easy, low-risk gains for the non-clueless.

This ChartBuddy thing should be posting like every five hours instead of every hour. Or tie the posting speed to volatility.

For bitcoin to be useful for spending more people need to buy and hold.

I expect we'll reach $5,000 this year. It's less than 50x the current price, and we already had a more than 20x run over the past six months. It feels like we're finally reaching critical mass, as we must in order to maintain exponential growth.

I predict relatively steady exponential growth for the next few months, later getting more volatile/bubbly and bringing us well into the thousands or even tens of thousands of dollars per bitcoin by year end.

Good, sentiment is renormalizing.

Not that this is the rally, but since I happen to be looking at the price now...

122

Ouch.

Excellent talk from Chris Dixon!

He's talking about mBTC. In other words a million dollars per bitcoin as peak valuation.

Oh I'm definitely factoring the positive news in. Such news is required for exponential growth to continue. I'm extremely bullish, of course, make no mistake.

What I see, psychologically, is as the price starts exploding people will remember the old euphoria, then the old fear and regret will come rushing back and they'll get conservative and sell to strength, not wanting to get suckered into old mistakes. After a few fakeout rallies and steady growth and boring price responses to bad news, the psychology will be rebalanced and growth will continue.

Also, new investors with no bubble experience will be coming in all the while. Eventually we'll again have so many new investors that they outnumber the old, and another bubble will happen. Maybe in November or something, and we'll crash all the way down to $5,000 with people declaring the end of Bitcoin

I don't think the price will explode yet; the bubble-crash is still too fresh in too many people's minds.

I think we will simply return to exponential growth, maybe with a nice catch-up rally in there somewhere (I'm guessing this week or next) since we are presently below the exponential curve, to reach $200 in about 3-4 weeks. And then continuing to hit $1,000 by September and $10,000 by Christmas.

BitPay is the hero of the Bitcoin business world. Thiel is fixing to finally get this financial revolution stuff right. Two people close to the facebook board of directors are gung-ho probitcoiners. BTC price: Soon to be going UP, back to the exponential growth trendline.

Hm? It seems like we are still exactly on that Jan-March trendline. It went above it for a while so it has to go below it for a while to wash out all the bubble-related sentiment anomalies. Anything else would be strange. If we were back on the trendline right now I'd say that is not following the trend but instead above it (on average). To follow the trend long term, we have to be a bit below it short term, since we spent some time way above it. Sentiment rebalancing. Can you feel it?

I suspect we'll be climbing upward to meet that trendline again in the next few weeks. (I correctly predicted a several-week sideways slide about two weeks ago. Now that it's consolidated, it'll soon be ready to move up again.)

Erik Voorhees made an excellent post on OC Ripple here. That and his followups are very interesting. I basically agree entirely with his position. Not a scam, not too greedy, but too greedy to succeed long-term. Just a glorified pre-mined altcoin.