Bitcoin goes to 1200-1300 (within a month?)

[inca]

-snip-
I was a broker before (the Internet). After that I spent many years as a network analyst in one of the larger data centers in the Midwest. Now working as a software engineer. Be happy to compare credentials, and certifications with you.

I’ll have you know I graduated top of my class in the Navy Seals, and I’ve been involved in numerous secret raids on Al-Quaeda, and I have over 300 confirmed kills. I am trained in gorilla warfare and I’m the top sniper in the entire US armed forces. You are nothing to me but just another target. I will wipe you the fuck out with precision the likes of which has never been seen before on this Earth, mark my fucking words. You think you can get away with saying that shit to me over the Internet? Think again, fucker. As we speak I am contacting my secret network of spies across the USA and your IP is being traced right now so you better prepare for the storm, maggot. The storm that wipes out the pathetic little thing you call your life. You’re fucking dead, kid. I can be anywhere, anytime, and I can kill you in over seven hundred ways, and that’s just with my bare hands. Not only am I extensively trained in unarmed combat, but I have access to the entire arsenal of the United States Marine Corps and I will use it to its full extent to wipe your miserable ass off the face of the continent, you little shit. If only you could have known what unholy retribution your little “clever” comment was about to bring down upon you, maybe you would have held your fucking tongue. But you couldn’t, you didn’t, and now you’re paying the price, you goddamn idiot. I will shit fury all over you and you will drown in it. You’re fucking dead, kiddo.[/size]

There.  Who got the girthiest E-wiener now?

The Cloud is a term used by people who don't understand information technology, or they are trying to sell it. It was invented as a sales gimmick to lure smaller business to outsource IT jobs and supposedly save money. In the end it can cause bigger problems. Less control over your data, bandwidth overages, security issues, and long outages when you need fast support.
-snip-

TL;DR: "My real trading career fizzled, so I tried my luck at being a "network analyst," back when that meant "guy who has a key to teh broom closet, the one where our PIII 'puter boxen are at."  ...and then cloud computing took that away from me, so now I pimp Bitcoin.

So I convinced myself that cloud computing ain't a thing, and if it is a thing, it's a bad thing.  Because stupid people and marketers say "Cloud," which means "cloud" is a stupid word "

I figured you would prove my point for me! Thanks, and good luck!!!

And an E-wiener is someone who makes half a dozen posts, and thinks he knows WTF he's talking about here... 

You are debating with the forum troll, notlambchop. Just ignore and move along like the rest of us. The Mods delete his posts fairly quickly on sight.

[1714969665]

1714969665

[guy_wonderful]

wtf was that_

[vtr99]

Everything will be fine, trust me.

I'm not trying to insult you, but the problem is the majority just don't understand how massive this problem is. Most countries in the world are completely bankrupt, and this is not going to go away without a complete reset at some point. As I said, Greece is going to be a classroom for the rest of the world. It's simple math. All this debt keeps getting bigger and bigger, and can never be paid back. In the very near future it will implode, and most fiat currency will be relatively worthless. The sooner that fact is understood, and dealt with, the less damage will be done.

http://www.dailymail.co.uk/news/article-3166278/Our-government-gunpoint-Ex-Greek-finance-minister-Yanis-Varoufakis-claims-economic-reforms-imposed-Athens-going-fail.html

http://demonocracy.info/infographics/eu/debt_greek/debt_greek.html

http://demonocracy.info/infographics/usa/us_debt/us_debt.html

[inca]

Everything will be fine, trust me.

I'm not trying to insult you, but the problem is the majority just don't understand how massive this problem is. Most countries in the world are completely bankrupt, and this is not going to go away without a complete reset at some point. As I said, Greece is going to be a classroom for the rest of the world. It's simple math. All this debt keeps getting bigger and bigger, and can never be paid back. In the very near future it will implode, and most fiat currency will be relatively worthless. The sooner that fact is understood, and dealt with, the less damage will be done.

http://www.dailymail.co.uk/news/article-3166278/Our-government-gunpoint-Ex-Greek-finance-minister-Yanis-Varoufakis-claims-economic-reforms-imposed-Athens-going-fail.html

http://demonocracy.info/infographics/eu/debt_greek/debt_greek.html

http://demonocracy.info/infographics/usa/us_debt/us_debt.html

National debts are never paid back.

The question you should ask is if countries are so bankrupt then why aren't rates rising to price in the risk? The answer of course is that central banks are buying bonds, monetising the debt.

The next question is what proportion of national debt is owned by central banks? You may be surprised to find out that the answer is quite a lot. Last time I checked the Bank of England had printed money out of thin air bought >30% of UK gilts. The situation is similar in the US and Japan is a total clusterfuck. The EU is shortly to print hundreds of billions of euros to keep rates low across the EU.

Who knows what the central banks are actively doing in the markets or in terms of buying other countries debt.

The end result is that as long as you have a central bank with the ability to print money from nothing and the audacity to buy up national bonds like some kind of banana republic then debt:gdp ratios mean nothing. That 30 -> 40 -> 50 % of national debt will expire. The bond payments from government to central banks are just handed back. So the end result is simple monetary inflation. As much inflation is required to stem the deflationary aftershocks still rocking the world from 2008.

For anyone young it presents a problem because we cannot rely on the valuations the market is saying housing or the stock market are worth.

That is one reason I like bitcoin, though I am not naive enough to think our friendly central bankers are not plotting to fuck that up, too.

[guy_wonderful]

Everything will be fine, trust me.

I'm not trying to insult you, but the problem is the majority just don't understand how massive this problem is. Most countries in the world are completely bankrupt, and this is not going to go away without a complete reset at some point. As I said, Greece is going to be a classroom for the rest of the world. It's simple math. All this debt keeps getting bigger and bigger, and can never be paid back. In the very near future it will implode, and most fiat currency will be relatively worthless. The sooner that fact is understood, and dealt with, the less damage will be done.

http://www.dailymail.co.uk/news/article-3166278/Our-government-gunpoint-Ex-Greek-finance-minister-Yanis-Varoufakis-claims-economic-reforms-imposed-Athens-going-fail.html

http://demonocracy.info/infographics/eu/debt_greek/debt_greek.html

http://demonocracy.info/infographics/usa/us_debt/us_debt.html

National debts are never paid back.

The question you should ask is if countries are so bankrupt then why aren't rates rising to price in the risk? The answer of course is that central banks are buying bonds, monetising the debt.

The next question is what proportion of national debt is owned by central banks? You may be surprised to find out that the answer is quite a lot. Last time I checked the Bank of England had printed money out of thin air bought >30% of UK gilts. The situation is similar in the US and Japan is a total clusterfuck. The EU is shortly to print hundreds of billions of euros to keep rates low across the EU.

Who knows what the central banks are actively doing in the markets or in terms of buying other countries debt.

The end result is that as long as you have a central bank with the ability to print money from nothing and the audacity to buy up national bonds like some kind of banana republic then debt:gdp ratios mean nothing. That 30 -> 40 -> 50 % of national debt will expire. The bond payments from government to central banks are just handed back. So the end result is simple monetary inflation. As much inflation is required to stem the deflationary aftershocks still rocking the world from 2008.

For anyone young it presents a problem because we cannot rely on the valuations the market is saying housing or the stock market are worth.

That is one reason I like bitcoin, though I am not naive enough to think our friendly central bankers are not plotting to fuck that up, too.

Thumbs up.
LoL for that last sentence.

[jt byte]

The bitcoin price today was a bit high but it fall again to the main position to the starting day today.
So 1200-1300 is a high high value to be reached in these days or in these months

[kingaltcoins]

If there is a quick jump to 1200, I don't think it will be sustainable. That's just too much too fast. Best case scenario is getting to 300 and holding

[lyth0s]

Everything will be fine, trust me.

I'm not trying to insult you, but the problem is the majority just don't understand how massive this problem is. Most countries in the world are completely bankrupt, and this is not going to go away without a complete reset at some point. As I said, Greece is going to be a classroom for the rest of the world. It's simple math. All this debt keeps getting bigger and bigger, and can never be paid back. In the very near future it will implode, and most fiat currency will be relatively worthless. The sooner that fact is understood, and dealt with, the less damage will be done.

http://www.dailymail.co.uk/news/article-3166278/Our-government-gunpoint-Ex-Greek-finance-minister-Yanis-Varoufakis-claims-economic-reforms-imposed-Athens-going-fail.html

http://demonocracy.info/infographics/eu/debt_greek/debt_greek.html

http://demonocracy.info/infographics/usa/us_debt/us_debt.html

National debts are never paid back.

The question you should ask is if countries are so bankrupt then why aren't rates rising to price in the risk? The answer of course is that central banks are buying bonds, monetising the debt.

The next question is what proportion of national debt is owned by central banks? You may be surprised to find out that the answer is quite a lot. Last time I checked the Bank of England had printed money out of thin air bought >30% of UK gilts. The situation is similar in the US and Japan is a total clusterfuck. The EU is shortly to print hundreds of billions of euros to keep rates low across the EU.

Who knows what the central banks are actively doing in the markets or in terms of buying other countries debt.

The end result is that as long as you have a central bank with the ability to print money from nothing and the audacity to buy up national bonds like some kind of banana republic then debt:gdp ratios mean nothing. That 30 -> 40 -> 50 % of national debt will expire. The bond payments from government to central banks are just handed back. So the end result is simple monetary inflation. As much inflation is required to stem the deflationary aftershocks still rocking the world from 2008.

For anyone young it presents a problem because we cannot rely on the valuations the market is saying housing or the stock market are worth.

That is one reason I like bitcoin, though I am not naive enough to think our friendly central bankers are not plotting to fuck that up, too.

Can you explain the "monetizing debt" piece, that's something I've never really had a good handle on.

As far as the central banks buying the bonds and interest rates staying low and debt:gdp ratio not meaning anything....don't you think there will come a point when debt interest payements : gdp will be so high that it will effectively nuder the government to spend money on anything other than the debt interest?

[Eastwind]

If there is a quick jump to 1200, I don't think it will be sustainable. That's just too much too fast. Best case scenario is getting to 300 and holding

Somewhere between 280-300 for a few month is ideal.

[pooya87]

If there is a quick jump to 1200, I don't think it will be sustainable. That's just too much too fast. Best case scenario is getting to 300 and holding

Somewhere between 280-300 for a few month is ideal.

i agree. the slow price growth is way better than a quick jump to a high price like $1000 and then crash afterwards. the high jump is only good for cashing out and profiting but it will hurt bitcoin to be considered  as some sort of currency .

[Stedsm]

If there is a quick jump to 1200, I don't think it will be sustainable. That's just too much too fast. Best case scenario is getting to 300 and holding

Somewhere between 280-300 for a few month is ideal.

Yeah, true. It will be fine for BTC to remain as a growing currency in the eyes of investors rather than other P&D alts which just come, make profit to big boys, and then vanish.

[Bavaria]

Where did the author of this prediction disappear? Are we still waiting for 1300 USD till the end of July?   

[Amph]

Where did the author of this prediction disappear? Are we still waiting for 1300 USD till the end of July?   

this is impossible even with a steady grow, you need a increase per day around 90 to accomplish the goal of 1300 before 1 august

yet for some reason it look more feasible than any drastic drop that was predicted, like 132 and sub 100

[vtr99]

Everything will be fine, trust me.

I'm not trying to insult you, but the problem is the majority just don't understand how massive this problem is. Most countries in the world are completely bankrupt, and this is not going to go away without a complete reset at some point. As I said, Greece is going to be a classroom for the rest of the world. It's simple math. All this debt keeps getting bigger and bigger, and can never be paid back. In the very near future it will implode, and most fiat currency will be relatively worthless. The sooner that fact is understood, and dealt with, the less damage will be done.

http://www.dailymail.co.uk/news/article-3166278/Our-government-gunpoint-Ex-Greek-finance-minister-Yanis-Varoufakis-claims-economic-reforms-imposed-Athens-going-fail.html

http://demonocracy.info/infographics/eu/debt_greek/debt_greek.html

http://demonocracy.info/infographics/usa/us_debt/us_debt.html

National debts are never paid back.

The question you should ask is if countries are so bankrupt then why aren't rates rising to price in the risk? The answer of course is that central banks are buying bonds, monetising the debt.

The next question is what proportion of national debt is owned by central banks? You may be surprised to find out that the answer is quite a lot. Last time I checked the Bank of England had printed money out of thin air bought >30% of UK gilts. The situation is similar in the US and Japan is a total clusterfuck. The EU is shortly to print hundreds of billions of euros to keep rates low across the EU.

Who knows what the central banks are actively doing in the markets or in terms of buying other countries debt.

The end result is that as long as you have a central bank with the ability to print money from nothing and the audacity to buy up national bonds like some kind of banana republic then debt:gdp ratios mean nothing. That 30 -> 40 -> 50 % of national debt will expire. The bond payments from government to central banks are just handed back. So the end result is simple monetary inflation. As much inflation is required to stem the deflationary aftershocks still rocking the world from 2008.

For anyone young it presents a problem because we cannot rely on the valuations the market is saying housing or the stock market are worth.

That is one reason I like bitcoin, though I am not naive enough to think our friendly central bankers are not plotting to fuck that up, too.

Can you explain the "monetizing debt" piece, that's something I've never really had a good handle on.

As far as the central banks buying the bonds and interest rates staying low and debt:gdp ratio not meaning anything....don't you think there will come a point when debt interest payements : gdp will be so high that it will effectively nuder the government to spend money on anything other than the debt interest?

The Fed is buying up the bad debt with Monopoly money. The bad debt is being taken out of the hands of failed banks and bankrupt consumers with money that has been printed out of thin air. This debases the value of old money, causes massive inflation. When you increase the money supply without increasing the collateral that backs it, you end up with inflation. We have reached the point of unsustainable debt, and everything is about to change.  

DEFINITION OF 'MONETIZE'
To monetize is to convert an asset into or establish something as money or legal tender. The term monetize has different meanings depending on the context. It can refer to methods utilized to generate profit, while it also can literally mean the conversion of an asset into money. For example, the U.S. Federal Reserve can monetize the nation's debt; this involves the process of purchasing debt (treasuries) which in turn increases the money supply. This essentially turns the debt into money (monetization).

https://www.youtube.com/watch?v=mII9NZ8MMVM

This one is long, but completely explains the situation.

https://www.youtube.com/watch?v=JGMfI0iglk4

[vtr99]

...
The Fed is buying up the bad debt with Monopoly money. The bad debt is being taken out of the hands of failed banks and bankrupt consumers with money that has been printed out of thin air. This debases the value of old money, causes massive inflation. When you increase the money supply without increasing the collateral that backs it, you end up with inflation. We have reached the point of unsustainable debt, and everything is about to change.  
...

And yet...

Official inflation data does not include food, fuel, and most necessities. Real inflation is running at more than 10% for the last 3 years. Take a look at the price of fast food over the last few years, and this will give you a good idea of real inflation.

On top of this, household income is down sharply since 2008. Savings is even worse. Depending on who you want to believe.

http://www.breitbart.com/big-government/2014/08/11/u-s-wages-down-23-since-2008/

http://economix.blogs.nytimes.com/2013/03/28/median-household-income-down-7-3-since-start-of-recession/?_r=0

http://business.time.com/2013/03/12/if-theres-no-inflation-why-are-prices-up-so-much/

http://www.financialsense.com/contributors/john-mauldin/is-government-lying-to-us-about-inflation-yes

http://www.forbes.com/sites/perianneboring/2014/02/03/if-you-want-to-know-the-real-rate-of-inflation-dont-bother-with-the-cpi/

http://www.cnbc.com/id/42551209

http://www.bankrate.com/finance/personal-finance/is-inflation-higher-than-you-think-1.aspx

[pereira4]

"Let's just print some more money to makeup the growth rate and make it look as if the economy is recovering"
Same trick as "let's give people shitty minijobs so the unemployment rate looks nice and low and we can win the next elections and brag it out"

It's all smoke and mirrors, the economy still runs under the same scams and dead ends, keep stacking metal and BTC and don't forget land too.

[vtr99]

"Let's just print some more money to makeup the growth rate and make it look as if the economy is recovering"
Same trick as "let's give people shitty minijobs so the unemployment rate looks nice and low and we can win the next elections and brag it out"

It's all smoke and mirrors, the economy still runs under the same scams and dead ends, keep stacking metal and BTC and don't forget land too.

Exactly...

[vtr99]

---
Official inflation data does not include food, fuel, and most necessities. Real inflation is running at more than 10% for the last 3 years. Take a look at the price of fast food over the last few years, and this will give you a good idea of real inflation.

Here's exactly how the data posted above was calculated: http://inflationdata.com/inflation/Inflation_Articles/CalculateInflation.asp
Feel free to post how you have arrived at your #s.

On top of this, household income is down sharply since 2008. Savings is even worse. Depending on who you want to believe.

Whelp, there's your problem right there.  You don't understand what the word "inflation" means.
"Inflation" doesn't mean "people are poor & shit's bad."  Quite the contrary, it's common for lack of inflation (deflation) to be indicative of poverty/shit being bad all over.
Take the Great Depression, for instance, an economic f8ckup touchstone.  During the Great Depression, inflation was negative (i.e. deflation).
A picture, to make this clearer:



The yellow blob highlights the depression years.

Now that your confusion regarding inflation has (hopefully) been addressed, we're ready to move on to the more advanced topics, like shapes and colors.

The same pack of bacon we bought last year for $8 is now $16. A ribeye steak that was $6 a year ago is now $10. Everything from candy bars to ice cream bars are getting smaller and smaller as the price goes up. 

DEFINITION OF 'INFLATION'
The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling. Central banks attempt to stop severe inflation, along with severe deflation, in an attempt to keep the excessive growth of prices to a minimum.

INVESTOPEDIA EXPLAINS 'INFLATION'
As inflation rises, every dollar will buy a smaller percentage of a good. For example, if the inflation rate is 2%, then a $1 pack of gum will cost $1.02 in a year.

The chart you supplied shows the increasing lack of purchasing power. If average wages drop 23%, and the reported rate of inflation is supposedly 2%, you are experiencing massive inflation. What is it you don't understand?

[vtr99]

---
Official inflation data does not include food, fuel, and most necessities. Real inflation is running at more than 10% for the last 3 years. Take a look at the price of fast food over the last few years, and this will give you a good idea of real inflation.

Here's exactly how the data posted above was calculated: http://inflationdata.com/inflation/Inflation_Articles/CalculateInflation.asp
Feel free to post how you have arrived at your #s.

On top of this, household income is down sharply since 2008. Savings is even worse. Depending on who you want to believe.

Whelp, there's your problem right there.  You don't understand what the word "inflation" means.
"Inflation" doesn't mean "people are poor & shit's bad."  Quite the contrary, it's common for lack of inflation (deflation) to be indicative of poverty/shit being bad all over.
Take the Great Depression, for instance, an economic f8ckup touchstone.  During the Great Depression, inflation was negative (i.e. deflation).
A picture, to make this clearer:



The yellow blob highlights the depression years.

Now that your confusion regarding inflation has (hopefully) been addressed, we're ready to move on to the more advanced topics, like shapes and colors.

The same pack of bacon we bought last year for $8 is now $16. A ribeye steak that was $6 a year ago is now $10. Everything from candy bars to ice cream bars are getting smaller and smaller as the price goes up.  

DEFINITION OF 'INFLATION'
The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling. Central banks attempt to stop severe inflation, along with severe deflation, in an attempt to keep the excessive growth of prices to a minimum.

INVESTOPEDIA EXPLAINS 'INFLATION'
As inflation rises, every dollar will buy a smaller percentage of a good. For example, if the inflation rate is 2%, then a $1 pack of gum will cost $1.02 in a year.

The chart you supplied shows the increasing lack of purchasing power. If average wages drop 23%, and the reported rate of inflation is supposedly 2%, you are experiencing massive inflation. What is it you don't understand?

Ahh, I see we're not yet ready to move on to shapes and colors.  Let's brush up on inflation.

First, let me say that "purchasing power" is not shorthand for "pick a random item, such as beef, the price of which supports your argument, and ignore everything else, such as the price of oil and gas, which doesn't."  That's why grownups have come up with a thing called a "market basket" or "commodity bundle," when they want to talk to other grownups about economics.

"Purchasing power of US dollar" has little to do with how many US dollars Average Joe makes.  Making your claims of Average Joe making less, saving less, or being un/underemployed what's called "irrelevant."

Use of "inflation" in most (US-centric) contexts addresses the buying power of the USD, not Average Joe's buying power.

Average Joe's buying power wasn't very impressive during the above-mentioned Great Depression, it was, by many accounts, pitiful.  And yet the country was going through a period of ...how to put it in ways you might grasp, which I haven't tried before? ...the opposite of inflation, deflation, just like inflation but the exact opposite, ~inflation, !inflation.
A dollar bought more goods, but people were broke.  

So if Average Joe can't afford to eat, it doesn't mean "inflation" any more than it means "purple" or "cat."
I hope this helped

If you aren't worried about your fiat being debased, I'm not sure what you're doing here? You would certainly have no interest in Bitcoin.

Another new account, and a few mindless troll posts to waste your day?

[vtr99]

Non sequitur? (That's a fancy way of saying "whatcha be talkin' about, Jasper?")
What does any of this have to do with your failure to understand the words that you use, or my (grantedly, somewhat overambitious) attempt to educate you?

Thanks again! Whether you're actually a troll, or just some fool with an inferiority complex, people like you are one of the biggest reasons to invest in crypto currency...