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Question: When will 1 BTC = 50 USD?
September 30, 2011 - 39 (35.1%)
December 31, 2011 - 30 (27%)
July 1, 2012 - 17 (15.3%)
December 31, 2012 - 4 (3.6%)
July 1, 2013 - 4 (3.6%)
Later (past July 1, 2013) - 3 (2.7%)
Never - 11 (9.9%)
Other (explain below) - 3 (2.7%)
Total Voters: 111

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Author Topic: Bitcoin 50x parity. When will 1BTC=50 USD? Vote!  (Read 1823 times)
ShadowOfHarbringer
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June 02, 2011, 03:10:20 PM
 #1

OK, so we broke 10 USD barrier !

The old poll is no longer valid, let's move on.

It's time to vote for the next one.

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demonofelru
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June 02, 2011, 04:17:05 PM
 #2

Voted never again if I keep guessing that it will eventually be right lol.  Besides whenever I am pessimistic it seems to go up so I hope that keeps going.

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Sjalq
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June 02, 2011, 04:25:04 PM
 #3

Bitcoin's rise so far is due mostly to small amounts of speculation and people who want to see the currency system replaced who are investing their spare change. We're probably only getting started.

Cheesy mine mine mine mine mine mine mine Cheesy
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ShadowOfHarbringer
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June 02, 2011, 04:30:10 PM
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Bitcoin's rise so far is due mostly to small amounts of speculation and people who want to see the currency system replaced who are investing their spare change. We're probably only getting started.

Totally agreed.

When the total economy size will break 1.000.000.000 (1 billion dollars), then it's going to get interesting.
For now, modest 76 mil USD will have to suffice Cheesy

Ian Maxwell
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June 02, 2011, 05:56:39 PM
 #5

Things like this have to be looked at proportionally. It's easy to look at 50x parity and think "Whoa, that's $40 away," instead of, "Oh, a 400% increase." We've seen 400% increases in the course of two weeks before.

Upper bound: January 31.

Lower bound: June 11.

Ian Maxwell
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June 02, 2011, 09:58:18 PM
 #6

Unless we have a Bubble -- or people being much more patient than they appear now -- this will depend on actual trade adoption.

If we don't see some adoption outside speculators, people pushing the price higher would take part in the world's largest pyramid scheme. So it all depends on the growth of the small but important amount of people who use BTC to trade for real goods.

I think the biggest question concerning that will be answered soon: will BitcoinJ bring us Bitcoin on Android, and will people use it? This is the one big thing I've been wondering about since before I joined this forum. Android users are Bitcoin's first target audience, the obvious choice to take things to the next level.

How Bitcoin will perform with Android users might decide everything. The moment an exponential growth in the Android user base becomes apparent, the failure probability of Bitcoin will fall drastically, and that should adjust price upwards. Similarly, failure to perform there might wipe out all hopes in sustaining current price. It's a very very strong indicator.

That said, my vote was fairly conservative (late), but I can't really answer yet. Gotta wait how things go with the first "real usage ready" Bitcoin client!
datguywhowanders
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June 02, 2011, 11:49:34 PM
 #7

I read the documentation on BitcoinJ. I've done a very tiny amount of Android programming and had considered picking up a side project to create my own client.

I found myself worried about the documentation's hints that certain things would change shortly with the protocol thus obsoleting certain methods included in the library. So far, all we've seen on Android are some price widgets, mining monitors, and test clients for sending payments.

I applaud other developer efforts, but I think it's going to require a team effort to make a usable client on Android.

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