anyone reckon the value of bitcoin will double in the next 12 months?

[AndrewBUD]

I am one of those entrepreneurs and will be doing what I can to accept btc in all future businesses for as long as it remainds stable enough to not be putting my self at high risk of losing money.

WTF ?

I thought you were a Prince, looking to restore your family's Kingdom..... ?

That's it. Scammer recommendation for you. I must report this. And to think, I nearly sent you 1000 BTC to help your cause.

I will never trust anyone, ever again.

I'm a prince in need of 1000btc to help my familly restore power of our kingdom. With out help you can become royalty and also get 10000000000btc in return!

Nice..... From Nigeria right?

[d.aghaei]

I think bitcoin price will keep going up and up, as it has been steady for so long now. As more people start accepting it, trading with it and using it, it's value will increase.

[Diablax]

Can't see it going anywhere but up, just imagine where it could be in 5 years time

[every1pewps]

It *should* be upward-bound, and would be if not for all the skepticism encircling Butterfly Labs and their ASIC products.

If BFL does actually produce their SC line of products, it will mean very scary things for your average every day miner. Even though there are lots of FPGA modules available for purchase from various manufacturers, the "meat" of block creation is still GPU mining. The release of FPGAs didn't impact the viability of GPU mining all that much because the speeds are in the same neighborhood (Overclocked 7970 GPU ~650MH, BFL FPGA Single ~830MH). If BFL releases even 1/10th of the ASIC products that they have pre-orders for, the difficulty will just about double in a mere matter of weeks.

This is all compounded by the fact that the block reward will be cut in half sometime in early December. Enthusiasm for the currency as a whole will be drastically reduced on the miner-side if GPU mining is no longer viable unless you have free electricity, and even then, it won't be nearly as profitable. Who wants to run their cards at high temperatures for next to no reward?

The bottom line is... If ASICs make it out onto the market, you better have one, or you'll be making a fraction of what you're making now with GPUs. I'd rather have tens of thousands of users under 1GH/s mining/trading/spending coins, than a couple hundred users close to or over 1TH/s. Fewer users and less enthusiasm amongst the community means a drop in value.

We all know what happens when the majority of wealth in an economy is limited to the privileged few.

[timeshareafrica]

If you ask such a question you should state to what the Bitcoin value is doubling up to. I asume you want to know if the Bitcoin is doubling up against the US$.
If it is the US$ than it depends who is winning the The United States presidential election of 2012.
If the winners is Republican Mitt Romney the chances for Isreal attacking Iran is round about 90%.
If Israel attacks Iran there could be nuclear weapons involved.
So If there are nuclear weapons involved it could affect the peoples trust in specific currencies and it also could affect the international trades. If the people don't trust the governments of the world to regulate the money the would for example invest in Bitcoins.
So there is a possibility the BTC to US$ will *2 but there is also a possibility the BTC to US$ will /2.
 

[Prendergast123]

Yes.