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Author Topic: BTC = $19?!  (Read 5877 times)
Mageant
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June 05, 2011, 07:39:02 PM
 #21

The possibility of Bitcoins replacing the current fiat money system worldwide means it has a *huge* value potentially.
For instance if Bitcoins were to replace only 1% of the money used worldwide that would mean an increase in value by about 3000x from the current value (when all 21 million bitcoins have been created). If it were to replace *all* money worldwide, that means each bitcoin would be worth several million $.

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SmokeTooMuch
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June 05, 2011, 08:13:33 PM
 #22

Who's buying right now?  Must be the Chinese.
There's huge media attention from Germany going on.

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June 05, 2011, 08:41:30 PM
 #23

Who's buying right now?  Must be the Chinese.
There's huge media attention from Germany going on.

I think it was at like 2 am in Germany when the $19 spike happened, probably not the Germans.

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Kehaar
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June 05, 2011, 11:05:21 PM
 #24

The possibility of Bitcoins replacing the current fiat money system worldwide means it has a *huge* value potentially.
For instance if Bitcoins were to replace only 1% of the money used worldwide that would mean an increase in value by about 3000x from the current value (when all 21 million bitcoins have been created). If it were to replace *all* money worldwide, that means each bitcoin would be worth several million $.

You say "only" like 1% of the world economy is a small amount :p
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June 06, 2011, 12:46:02 AM
 #25

wow crap, I sold a bunch at 17.5 yesterday,

should I buy back now?

Now while others are selling:
{"ticker":{"high":18.4452,"low":16.2,"vol":22059,"buy":16.605,"sell":16.69,"last":16.605}}

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Kman54
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June 06, 2011, 01:08:46 AM
 #26

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For instance if Bitcoins were to replace only 1% of the money used worldwid

Stop this talk is stupid - its never going to take 1% of the worlds economy and you make us look like idiots when you talk like this. It maybe an alternative to other investments like gold or silver but lets be honest its value is because it can buy a relatively high amount of dollars. People want the dollar value not the bitcoins.

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June 06, 2011, 01:26:40 AM
 #27

Stop this talk is stupid - its never going to take 1% of the worlds economy and you make us look like idiots when you talk like this. It maybe an alternative to other investments like gold or silver but lets be honest its value is because it can buy a relatively high amount of dollars. People want the dollar value not the bitcoins.

Personally I think Bitcoin has much more promise as a medium of exchange than as an investment.  But even if it just reached parity with silver, that's $1500 / BTC.

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June 06, 2011, 01:33:36 AM
 #28

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For instance if Bitcoins were to replace only 1% of the money used worldwid

Stop this talk is stupid - its never going to take 1% of the worlds economy and you make us look like idiots when you talk like this. It maybe an alternative to other investments like gold or silver but lets be honest its value is because it can buy a relatively high amount of dollars. People want the dollar value not the bitcoins.



This is the sad truth of Bitcoin - people aren't buying it to buy Bitcoins, they are buying it to sell it. The ultimate truth is that the demand will flatten, and sell-off will follow.
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June 06, 2011, 01:44:53 AM
 #29

Quote
For instance if Bitcoins were to replace only 1% of the money used worldwid

Stop this talk is stupid - its never going to take 1% of the worlds economy and you make us look like idiots when you talk like this. It maybe an alternative to other investments like gold or silver but lets be honest its value is because it can buy a relatively high amount of dollars. People want the dollar value not the bitcoins.



This is the sad truth of Bitcoin - people aren't buying it to buy Bitcoins, they are buying it to sell it. The ultimate truth is that the demand will flatten, and sell-off will follow.

Even if people are buying to sell it, that gives incentive for businesses to accept them. As long as Bitcoin services keep emerging, the value of Bitcoin will rise. Economically, Bitcoins are a better money than dollars, so plenty of people will have incentive to use them.
istar
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June 06, 2011, 09:42:26 AM
 #30

Bitcoins still have a long way to go. The client needs to be much safer and there is still the risc that it gets banned.
It takes time to develop good secure software and trustworthy software, atleast a year.
Probably something like two years from now we will have
the stoftware that is really needed.

Right now its a highrisc investment.

But of the earth population there is still like its only a few computer geeks who have invested in it.

When investors starts to get in, we will se the price increase.
What happens when the gold or oil industry jumps in?

Or if google used their equipment to mine?

I say in max two years from now we will know.
But its not going to replace fiat currency for a long time, since people dont want to loose all their money if their computer crashes.

But sure someday it might. Today a lot of trade is just done by digital numbers in a bank system.


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afterburner229
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June 06, 2011, 10:29:46 AM
 #31

BTC exchange races are most profitable business today, excepts drug sale Wink
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June 06, 2011, 02:06:44 PM
 #32

Bitcoin price increases are just getting started

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August 10, 2011, 07:12:23 PM
 #33

Oh, these were the good days

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Cluster2k
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August 11, 2011, 12:39:44 PM
 #34

One thing is assured with bitcoin investments: we will never hear today from those people who purchased bitcoins at $20, $25, and even $30.

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August 12, 2011, 04:20:45 PM
 #35

One thing is assured with bitcoin investments: we will never hear today from those people who purchased bitcoins at $20, $25, and even $30.

I'm still here. Bought at various times from $6 to $20. Bought a few grand at $20 actually. Still holding, still ok, still expecting it to go up eventually, and still buying (at $10 now).

cbeast
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August 12, 2011, 06:08:40 PM
 #36

One thing is assured with bitcoin investments: we will never hear today from those people who purchased bitcoins at $20, $25, and even $30.

I'm still here. Bought at various times from $6 to $20. Bought a few grand at $20 actually. Still holding, still ok, still expecting it to go up eventually, and still buying (at $10 now).
BTC is too big to fail. The idea, anyway. I imagine that early oilfield owners were annoyed at that sticky stuff messing up their farmland. Email took over a decade to be adopted and nearly two more decades to become ubiquitous. We are still all early adopters. Those people using the bitcoin exchanges to trade, just don't get the point of bitcoin. They could be developing the next killer app that would make them much richer.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
Bazil
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August 12, 2011, 08:31:24 PM
 #37

wow who brought this tread back from the dead?  Bitcoin will start going up again.  10 seconds of exposure on any business news channel during prime time and it's value will explode.

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