4000$ bitcoins in 4 months

[molecular]

Impossible? You clearly don't have a clue what bitcoin is capable of. BTW, I'm all in since 2012. Now there is simply no point for me to buy any more bitcoins because the bitcoins that I could buy today with my monthly salary would be just a drop in the ocean in comparison to the coins I accumulated in 2011 and 2012.[/url]

This is what I find funny about the btc community, $4k btc sounds crazy yet it is nowhere near as crazy to me as the idea a couple of nerds cpu mined thousands of bitcoins for winter heating prices and turned those into $1,000 a piece.

Bitcoin's market cap is tiny, tiny tiny compared to a typical fortune 500 company or a few blocks of prime real estate in a major American city, it has alot of room to grow.

I fail to see how that's funny. Imagine Bitcoin really becomes a large-scale success at least in the store-of-wealth arena, largely replacing gold, tbtb unable to suppress it. What happens when a large chunk of the worlds wealth is transferred to a couple of crypto geeks and gamer kids?

I don't think that's funny. It's very interesting, though. Maybe prodigious.

[Genesys]

I read stories like this and see potential for the economy as a whole.
Isn't that what the world's economy is driven on.. hope?
Hope for a better tomorrow, a prosperous future, a guiding light?
It all sounds la de da but isn't it true?
Bear and bulls have no place in Greece.

[Melbustus]

Impossible? You clearly don't have a clue what bitcoin is capable of. BTW, I'm all in since 2012. Now there is simply no point for me to buy any more bitcoins because the bitcoins that I could buy today with my monthly salary would be just a drop in the ocean in comparison to the coins I accumulated in 2011 and 2012.[/url]

This is what I find funny about the btc community, $4k btc sounds crazy yet it is nowhere near as crazy to me as the idea a couple of nerds cpu mined thousands of bitcoins for winter heating prices and turned those into $1,000 a piece.

Bitcoin's market cap is tiny, tiny tiny compared to a typical fortune 500 company or a few blocks of prime real estate in a major American city, it has alot of room to grow.

I fail to see how that's funny. Imagine Bitcoin really becomes a large-scale success at least in the store-of-wealth arena, largely replacing gold, tbtb unable to suppress it. What happens when a large chunk of the worlds wealth is transferred to a couple of crypto geeks and gamer kids?

I don't think that's funny. It's very interesting, though. Maybe prodigious.

Yes, which is why bitcoin's volatility (and long drawn out bear periods) are *ultimately* healthy, however painful in the short-term. The quick 10x rises and subsequent crashes lead the luckbox kids who got in without a deep understanding of where this all *could* go, to get out years too early. I'm sure you recall all the miners from 2010 and early 2011 who sold huge stashes in April-June 2011, at anywhere from 10x-1000x profit. Some of them made tens or low-hundreds of thousands of dollars in quick profit, but turns out they sacrificed millions.

Bitcoin's volatility is quite efficient at weeding out those who lack the combination of real long-term vision and extremely high risk tolerance.

[gentlemand]

Yes, which is why bitcoin's volatility (and long drawn out bear periods) are *ultimately* healthy, however painful in the short-term. The quick 10x rises and subsequent crashes lead the luckbox kids who got in without a deep understanding of where this all *could* go, to get out years too early. I'm sure you recall all the miners from 2010 and early 2011 who sold huge stashes in April-June 2011, at anywhere from 10x-1000x profit. Some of them made tens or low-hundreds of thousands of dollars in quick profit, but turns out they sacrificed millions.

Bitcoin's volatility is quite efficient at weeding out those who lack the combination of real long-term vision and extremely high risk tolerance.

I wonder whether that cycle will change. If you were floating around back in 2011 it would still have been quite easy to believe the whole thing was going to wither so you'd grab your profits and run.

These days it's becoming ever more likely that it really will go somewhere in a global context. I believe it's going to take a long time but you'd have to be pretty dumb to not realise the possible implications by now.

Sure, people will still crack when instant billions don't fall into their lap, but they really shouldn't be surprised if they're left in the dust a few more years down the line in the way 2010/2011 bailers have been. At least those folks didn't have all the subsequent developments to draw perspective on.

[XMRChina]

In the beginning of 2013 bitcoin traded at 15$ and went up to 250$ in the following 4 months. That's 16x rise! We are currently at 270$, 5 weeks green in a row, exactly as it was before the Cyprus crisis.

270*16 = 4320

There is no thoughtful analysis here. Cyprus alone was not the cause for the 16x gain

Greece is not exactly like Cyprus

If there is a rally there is no reason to assume it will be 16x

Each 16x gain will be much harder than the last

[Hyena]

There is no thoughtful analysis here. Cyprus alone was not the cause for the 16x gain

Greece is not exactly like Cyprus

If there is a rally there is no reason to assume it will be 16x

Each 16x gain will be much harder than the last

Don't try to force your assumptions on my OP.

I never said that the peak of the next bubble is 4000$. I said that we will see 4000$ bitcoins in 4 months. And obviously, Greece and Cyprus are not exactly the same, come on you smart ass, why state the obvious? Also, even if we had a thoughtful analysis, there is never any guarantee. Analysis get wrong all the time. Crystal ball predictions get right sometimes. You may die tomorrow, you have absolutely no guarantee. Your doctor may come up with an elaborate health analysis that says you will live 100 years old yet tomorrow you will die. Stop living as if you were immortal and had all the time in the world while in reality you only have now.

[gentlemand]

Each 16x gain will be much harder than the last

Big gains will be harder/ non existent if the userbase remains stagnant. Right now there's probably less than a couple of million people involved, quite possibly far, far fewer.

If it really did begin to gain traction and a new and larger wave of people decided it might have a place in their lives a 16x gain would happen with ease. Then you might be up to 10 million users.

The next wave might bring 100 million users and you're still quite a way from fulfilling its potential. Gains would pile up until it reached a relative saturation point. At that point, perhaps 10-20 years in the future, the deflation kicks in. Result - more gains.

Why is it so impossible for so many on here to think beyond the end of their next short?

[SmoothCurves]

Each 16x gain will be much harder than the last

Big gains will be harder/ non existent if the userbase remains stagnant. Right now there's probably less than a couple of million people involved, quite possibly far, far fewer.

If it really did begin to gain traction and a new and larger wave of people decided it might have a place in their lives a 16x gain would happen with ease. Then you might be up to 10 million users.

The next wave might bring 100 million users and you're still quite a way from fulfilling its potential. Gains would pile up until it reached a relative saturation point. At that point, perhaps 10-20 years in the future, the deflation kicks in. Result - more gains.

Why is it so impossible for so many on here to think beyond the end of their next short?

Once adoption reaches a threshold it will go hyper-exponential as will price

[jeffthebaker]

As much as I would love to see a price of $4000, I am skeptical of seeing even $400 any time soon.

[Gyfts]

This is next to trolling, or I'm just not seeing the connection. I'm trying to comprehend this graph and don't see how this trend will result in a four thousand $+ price.

[neurotypical]

Impossible? You clearly don't have a clue what bitcoin is capable of. BTW, I'm all in since 2012. Now there is simply no point for me to buy any more bitcoins because the bitcoins that I could buy today with my monthly salary would be just a drop in the ocean in comparison to the coins I accumulated in 2011 and 2012.[/url]

This is what I find funny about the btc community, $4k btc sounds crazy yet it is nowhere near as crazy to me as the idea a couple of nerds cpu mined thousands of bitcoins for winter heating prices and turned those into $1,000 a piece.

Bitcoin's market cap is tiny, tiny tiny compared to a typical fortune 500 company or a few blocks of prime real estate in a major American city, it has alot of room to grow.

I fail to see how that's funny. Imagine Bitcoin really becomes a large-scale success at least in the store-of-wealth arena, largely replacing gold, tbtb unable to suppress it. What happens when a large chunk of the worlds wealth is transferred to a couple of crypto geeks and gamer kids?

I don't think that's funny. It's very interesting, though. Maybe prodigious.

Nothing happens because most of the people that got luck sold at 1 dollar, or 30 dollar, or 200 dollar. The people that sold at 1k where the 1% of super lucky guys. So as you can see, with Bitcoin the guy that holds wins, but no one knew what would happen. If you mined 10000 Bitcoin for nothing and it reached 1 dollar, you would have probably sold too.
Redistribution of Bitcoin will happen everytime we reach a new milestone, 2k, 3k.. 10k..100.. everytime there will be people selling and other people getting the Bitcoins, and each time there will be people regretting by not holding a couple years more. It's how it works.

[Hyena]

This is next to trolling, or I'm just not seeing the connection. I'm trying to comprehend this graph and don't see how this trend will result in a four thousand $+ price.

STFU, this is not trolling in any way. If we discard the last bubble because it was rather exceptional due to the willy bot action, we see that the last time we were in green for 5 weeks in a row was exactly before the Cyprus bubble. What we have been experiencing for the past 5 weeks hasn't happened for more than 2 years. This current situation is very hot and we are on the verge of a beautiful and very bullish storm.

[tommorisonwebdesign]

Impossible? You clearly don't have a clue what bitcoin is capable of. BTW, I'm all in since 2012. Now there is simply no point for me to buy any more bitcoins because the bitcoins that I could buy today with my monthly salary would be just a drop in the ocean in comparison to the coins I accumulated in 2011 and 2012.[/url]

This is what I find funny about the btc community, $4k btc sounds crazy yet it is nowhere near as crazy to me as the idea a couple of nerds cpu mined thousands of bitcoins for winter heating prices and turned those into $1,000 a piece.

Bitcoin's market cap is tiny, tiny tiny compared to a typical fortune 500 company or a few blocks of prime real estate in a major American city, it has alot of room to grow.

I fail to see how that's funny. Imagine Bitcoin really becomes a large-scale success at least in the store-of-wealth arena, largely replacing gold, tbtb unable to suppress it. What happens when a large chunk of the worlds wealth is transferred to a couple of crypto geeks and gamer kids?

I don't think that's funny. It's very interesting, though. Maybe prodigious.

Nothing happens because most of the people that got luck sold at 1 dollar, or 30 dollar, or 200 dollar. The people that sold at 1k where the 1% of super lucky guys. So as you can see, with Bitcoin the guy that holds wins, but no one knew what would happen. If you mined 10000 Bitcoin for nothing and it reached 1 dollar, you would have probably sold too.
Redistribution of Bitcoin will happen everytime we reach a new milestone, 2k, 3k.. 10k..100.. everytime there will be people selling and other people getting the Bitcoins, and each time there will be people regretting by not holding a couple years more. It's how it works.

From what I see the price may reach $4000 but probably not in 4 months. Suspect the there is definitely a possibility that the price could bubble and then colllapse agian as it did last time. I'm going to trade a lot of my bitcoins for fiat cash when that begins to happen.

[Hyena]

From what I see the price may reach $4000 but probably not in 4 months. Suspect the there is definitely a possibility that the price could bubble and then colllapse agian as it did last time. I'm going to trade a lot of my bitcoins for fiat cash when that begins to happen.

Nice plan but you will probably be too late.

[foxbitcoin]

I bump this thread when it hits 4000$

[Brewins]

If you look at market cap increase before and after the 16x rise, and calculate the effect of such rise considering the current situation, you will not be that happy.

It is just a matter of perspective

[lyth0s]

When user adoption kicks in 16x growth in price will be childs play. I think that once we significantly break the last ATH of about $1,100 we will almost instantly shoot up to the $3000-$4000 mark based on increasing buyers (demand) and decreased sellers (lower supply).

Like previously stated, most people can't see past this current week when it comes to investing, speculating or even their own personal finances.

[AZwarel]

Impossible? You clearly don't have a clue what bitcoin is capable of. BTW, I'm all in since 2012. Now there is simply no point for me to buy any more bitcoins because the bitcoins that I could buy today with my monthly salary would be just a drop in the ocean in comparison to the coins I accumulated in 2011 and 2012.[/url]

This is what I find funny about the btc community, $4k btc sounds crazy yet it is nowhere near as crazy to me as the idea a couple of nerds cpu mined thousands of bitcoins for winter heating prices and turned those into $1,000 a piece.

Bitcoin's market cap is tiny, tiny tiny compared to a typical fortune 500 company or a few blocks of prime real estate in a major American city, it has alot of room to grow.

I fail to see how that's funny. Imagine Bitcoin really becomes a large-scale success at least in the store-of-wealth arena, largely replacing gold, tbtb unable to suppress it. What happens when a large chunk of the worlds wealth is transferred to a couple of crypto geeks and gamer kids?

I don't think that's funny. It's very interesting, though. Maybe prodigious.

Yes, which is why bitcoin's volatility (and long drawn out bear periods) are *ultimately* healthy, however painful in the short-term. The quick 10x rises and subsequent crashes lead the luckbox kids who got in without a deep understanding of where this all *could* go, to get out years too early. I'm sure you recall all the miners from 2010 and early 2011 who sold huge stashes in April-June 2011, at anywhere from 10x-1000x profit. Some of them made tens or low-hundreds of thousands of dollars in quick profit, but turns out they sacrificed millions.

Bitcoin's volatility is quite efficient at weeding out those who lack the combination of real long-term vision and extremely high risk tolerance.

I agree about volatility.
It is funny, people whine about volatility, while this happened in with one of the most important commodity in the last 100 years:
gold vs. oil
http://www.macrotrends.net/1380/gold-to-oil-ratio-historical-chart

[prodigy8]

In the beginning of 2013 bitcoin traded at 15$ and went up to 250$ in the following 4 months. That's 16x rise! We are currently at 270$, 5 weeks green in a row, exactly as it was before the Cyprus crisis.

270*16 = 4320

you are getting too optimistic here..! but I like it 

[Hyena]

you are getting too optimistic here..! but I like it 

It's sorcery.