Poll is flawed. It should also have an option for "neither".
Not that I would vote that way, but the option should be there for completeness. I think bitcoins will hit $100 within 1 month to two years, and silver will hit $100 somewhere between three and ten years.
In my opinion the poll is valid. Both are certain to go past $100 the only question is which first. The USD and all fiat currencies are turning into toilet paper thanks to central bankers. edit - although this is definately a home win for bitcoins. wonder what a similar poll would show on a metals forum. Theres a lot of anti-bitcoin sentiment on tfmetalsreport for example. Conceivable it would be possible for the US to stop printing money, stop spending money they don't have, thus turning around their financial situation and strengthing the USD to the extent that silver never hits $100. Hah, it was hard for me to write that with a straight face. The US has a policy of trying to keep inflation around 3-4% per year, so unless the policy makers are all thrown out and replaced with anti-inflationists, silver and bitcoin will inevitably hit that $100 mark. I think we're on the same page really. Technically they could strengthen the dollar to the point where it no longer devalues, however that would be unique amongst unbacked fiat currencies or i suppose they could create a new dollar backed by gold or something.. |
|
|
|
Poll is flawed. It should also have an option for "neither".
Not that I would vote that way, but the option should be there for completeness. I think bitcoins will hit $100 within 1 month to two years, and silver will hit $100 somewhere between three and ten years.
In my opinion the poll is valid. Both are certain to go past $100 the only question is which first. The USD and all fiat currencies are turning into toilet paper thanks to central bankers. edit - although this is definately a home win for bitcoins. wonder what a similar poll would show on a metals forum. Theres a lot of anti-bitcoin sentiment on tfmetalsreport for example. |
|
|
|
This isn't even a competition. It's like a 2 year old fighting Muhammad Ali.
 |
|
|
|
There are 40k times as many ounces of silver above ground now as there will ever be bitcoins. BTC is much easier to move up and harder to naked short sell since delivery is so easy to demand.
Silver has no chance.
Like it, very persuasive argument.. Yeah but I can't just discover/make up a new atom with a limited supply and call it "Blyther". But there could one day be 40k crypto-coins, each originally inspired by Bitcoin. This is one thing that is bound to keep deterring sceptics... until Bitcoin users start getting it and presenting the FOSS idea properly. Although I still see this as positive, in the next few years there could be 10 new "in-game coins" inspired by Bitcoin, 50 large corporations using private versions of Bitcoin for their supply chain, 100 different company stock schemes that are impossible to "naked short" thanks to Bitcoin technology... And if they're each as big as Bitcoin itself, that's utterly massive growth of 160 times, yet actual Bitcoin users see no increase in price! Given that most Bitcoin users seem to be speculating that they'll get rich easily due to seigniorage because everyone will want to buy-in... I'll have no sympathy if it doesn't work out that way. There are already quite a few bitcoin clones around, I think one will probably always dominate though. Unless bitcoin encounters unsolvable unforseen problems its in pole position just now and will continue until something better replaces it. I think it might be a bit like social networks, myspace dominated, then bebo, no-one uses them anymore its all facebook. Perhaps the same will happen with crypto currency ? There will be many attempts to replace it with something easier to centrally control. I can only hope those attempts meet abject failure. |
|
|
|
|
Been trying to post on tfmetalsreport but the site is down again. Need some silver bugs to fight that corner, not a single vote for silver yet.
|
|
|
|
There are 40k times as many ounces of silver above ground now as there will ever be bitcoins. BTC is much easier to move up and harder to naked short sell since delivery is so easy to demand.
Silver has no chance.
Like it, very persuasive argument.. |
|
|
|
oops must have gold on the brain. thanks for pointing it out, have fixed the subject now  |
|
|
|
We have broken 50!!! The correct answer as predicted by quite a few on the poll and myself too  was within 1 week. Feel like I'm on a roll. |
|
|
|
|
My thoughts are that we are going to break up through $50 before the end of March and head up to much higher prices thereafter. Beyond $50 I think will be the start of bubble territory, until now we are still in quite a well defined long term up trend.
|
|
|
|
I'm still thinking we'll consolidate for a little while yet. This is my latest chart taken from my blog.  From the look of it the price is still treading water just below resistance and it looks like price is approaching somewhere near the middle of the channel I’ve been drawing. There may be some support from that middle line, will it propel the price up through resistance? Perhaps not, however this wedge is slowly closing and as I’ve said before should be resolved before the end of March. In a way I think the fact that price is consolidating sideways instead of falling is another bullish sign that there is plenty more fuel for higher prices yet. |
|
|
|
|
I don't think it will be stable for more than another week or two. Looking at whats happening in Cyprus just now I think there might be a few people starting to think about moving there bank deposits somewhere the banks can't touch it. Might break up through $50 sooner than i thought.
|
|
|
|
|
Personally I doubt very much this is a new normal. The bitcoin economy is probably too small to have a stable price for any length of time, which is part of what makes it great for speculating I suppose.
I've locked the poll now, nearly made 100 voters, which is pretty cool I reckon. Since the first option was to break price within 24 hours, and 24 hours have now elapsed then doesn't seem to be much validity leaving it open.
There were no takers for the price to break within 24 hours, correctly as it transpires. The most popular option was before the end of March, which very much agrees with my own thoughts based on Technical Analysis. Will be interesting as always to see how it develops.
Thanks for all the votes.
|
|
|
|
It will hit $50 before the end of March  |
|
|
|
I respect davinci's opinion, and agree that the best time to buy them was in 2011 after the bubble popped. In fact I did buy a bunch at that time but they were later stolen from my bitcoinica account.  However I have bought some just recently because I have the opinion that this rally could go a lot further yet. I'm thinking towards $200 is not unrealistic. Perhaps higher if it goes like the peak of 2011 again. Perhaps its a risky strategy but I seem much more upside potential in bitcoins than gold or silver in the short term. |
|
|
|
The explosion begins once aunt jane can buy it with her credit card and bitcoin addresses are as simple as jane@coinbank.btcI think there'll be several explosions on the way up before that point, each one orders of magnitude bigger than the last. This one might be fuelled by smart investors who are just starting to see the potential. |
|
|
|
I don't trust my bitcoins with any third party, learned my lesson with bitcoinica.
MMM，i'm taking my coins at mtgox back to my local wallet now. Thanks for the risk alert.  I think you've made the right choice, its not quite as convineint if you want to sell them as you'd have to deposit them back with the exchange but the tradeoff in peace of mind is worth it. As long as you trust yourself you look after them  |
|
|
|
I voted within the week btw |
|
|
|
AF I really liked your blog and posted your last entry in a fb group I am admin (Bitcoin Greece).
Keep up posting there I will cover you...
Thanks klee I appreciate your comment very much  I think bitcoins could become very important in the future particularly in countries such as Greece which are being oppressed via control of money, ie the euro in that instance. |
|
|
|
should have made this a poll
Good idea Have added a poll now. Although my initial post nails my colors to the mast. |
|
|
|
|
Show Posts
