I am pretty confident we are the new wealthy elite, gentlemen.

[dKingston]

I agree, bitcoin is on a major rise now ..

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[jehst]

I agree, bitcoin is on a major rise now ..

I don't like the look of the volume. Low volume rise followed by a 30 minute minute high volume buying frenzy. Now volume is declining while we hang at 250. I've seen this pattern so many times before dumps.

[bryant.coleman]

I agree, bitcoin is on a major rise now ..

Tell that to the guys who purchsed Bitcoin when the exchange rate was going at $1,200 per coin. Bitcoin has lost 80% of its value, from its peak, which was reached in December 2013. No fiat currency has suffered such a crash. The worst performing fiat currency is the Ukrainian Hryvnia, which has seen its value dropping by 60%.

[pooya87]

Today is an awesome day to own Bitcoins.   

This time next week will be even awesomer.   

not so fast my friend. today is an awesome day for bitcoin, but next week we can be back at where we were previous week.
at least give it a couple of month and it will become awesome again.

I agree, bitcoin is on a major rise now ..

Tell that to the guys who purchsed Bitcoin when the exchange rate was going at $1,200 per coin. Bitcoin has lost 80% of its value, from its peak, which was reached in December 2013. No fiat currency has suffered such a crash. The worst performing fiat currency is the Ukrainian Hryvnia, which has seen its value dropping by 60%.

those guys who bought at $1200 and hold their coins this long, should never consider investing in anything.

[siera]

If we assume that a 10% market share will be taken up by Bitcoin (the current share is less than 0.1%), then

The "just 1%" or "just 10%" idea is a very common fantasy when people think of the potential of new technologies.
If I start a search engine and get 10% of the market share, my search engine will be worth billions. That's true, but this line of reasoning totally ignores how difficult it is to get a 10% market share.

You can account for that possibility. But make sure you account for the other possibilities as well.

I compare btc with email. 23 years ago I asked some people if they want email. Nobody does. Today you can't go to school or get a job without email. So 10% market share is in pocket

[Bagatell]

No fiat currency has suffered such a crash.

I don't recall any fiat currency rising from zero to $1200 either.

[Possum577]

No fiat currency has suffered such a crash.

I don't recall any fiat currency rising from zero to $1200 either.

Maybe not a rise, but surely a drop. Google Zimbabwe currency, you'll find that their currency lost value significantly. Of course, it lost value to the dollar in that rise of denomination so it eventually became worthless and was abandoned.

http://www.nydailynews.com/news/world/zimbabwe-ditches-worthless-currency-dollar-article-1.2256966

[bryant.coleman]

I don't recall any fiat currency rising from zero to $1200 either.

Most of the new investors bought their coins, after the "China boom" generated a lot of interest on Bitcoins. Those who sold their coins when the exchange rate was going at $1,200 was mostly older Bitcoiners, who numbered only in a few thousands. So we can say that a few thousand people gained when BTC went from $10 to $1,200, but tens of thousands lost, when BTC went from $1,200 to $230.

[Amph]

No fiat currency has suffered such a crash.

I don't recall any fiat currency rising from zero to $1200 either.

you should see the initial value of the first fait currency it was probably very high, because there were a strong demand for something that could get rid of barter altogether

bitcoin is like that it is comparable with the first launch of fiat, then "altfiat" come in to play, and fiat become overall stable, it is happening again but with crypto coin

[dollarneed]

iam pretty confident and sure that price of bitcoin is getting higher from time to time,this is about our faith, and i believe someday we're gonna wealth from coin that we were invested even though our dreams could not happen at least we've been hard worked for it and all i have to do just pray to god

[ashish12]

does anybody really feel that it will go back to 1200$ (practically)

[manselr]

does anybody really feel that it will go back to 1200$ (practically)

It will go back to the last ATH, but people will be scared to hold past it, so predict another crash after we get past ATH, or near ATH, and after that flash crash we'll finally hit a never seen before ATH which nobody can realistically predict.

[Digit-0]

does anybody really feel that it will go back to 1200$ (practically)

even if it will no go back to 1200$ i will be happy, just look at the stability that we have now, thats a pretty good news too

[pliv84]

Pretty amazing to look back at the first page of this thread. One person, back in 2011, predicted that there would be a bubble and then a crash.

I believe that we will see far higher than $1200 in the future. Bitcoin's stability, and increased usage (2x transaction volume over one year ago), suggests to me that it is here to stay.

And, a market cap of only $4 B is far too low for an international currency. The US M2 money supply is $12 Trillion. The value of all mined gold in the world is $8 Trillion. If Bitcoin sticks around and usage continues to grow, the value will HAVE to increase to the point that it is comparable to a major currency - potentially 1000x.

[bryant.coleman]

And, a market cap of only $4 B is far too low for an international currency. The US M2 money supply is $12 Trillion. The value of all mined gold in the world is $8 Trillion. If Bitcoin sticks around and usage continues to grow, the value will HAVE to increase to the point that it is comparable to a major currency - potentially 1000x.

A market cap of $4 billion might seem to be a small one, when compared to major world currencies such as the US Dollar, Euro, and the Renminbi. But many of the smaller nations are having currencies (such as the Sri Lankan Rupee, Bhutanese Ngultrum, and the Burmese kyat) which are having a market cap far lower than that figure.

The USD M2 money supply includes some $6 trillion in treasury bonds, and a few trillion in other forms, in addition to banknotes and coins.

And some 172,000 tonnes of gold have been mined to date. At the current rate of $1,180 / Oz, the total value of the same comes to $6.5 trillion.

[Amph]

And, a market cap of only $4 B is far too low for an international currency. The US M2 money supply is $12 Trillion. The value of all mined gold in the world is $8 Trillion. If Bitcoin sticks around and usage continues to grow, the value will HAVE to increase to the point that it is comparable to a major currency - potentially 1000x.

A market cap of $4 billion might seem to be a small one, when compared to major world currencies such as the US Dollar, Euro, and the Renminbi. But many of the smaller nations are having currencies (such as the Sri Lankan Rupee, Bhutanese Ngultrum, and the Burmese kyat) which are having a market cap far lower than that figure.

The USD M2 money supply includes some $6 trillion in treasury bonds, and a few trillion in other forms, in addition to banknotes and coins.

And some 172,000 tonnes of gold have been mined to date. At the current rate of $1,180 / Oz, the total value of the same comes to $6.5 trillion.

it might be true, but it is also true that bitcoin is aiming at a global audience and not only to one nation, so it can't go out with a so ridiculous market cap

it's like traying to sell 10 things to 100 people, you simply can not, and its divisibility will not cut it, merchants need to play with a huge business that involve a great amount of money

[Marbit]

http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/

After reading this, the scale of black market and digital economies and the effect Bitcoin will have on them I am pretty certain we are going to be very wealthy men -- even with a sum as small as 10 Bitcoins. It's just so hard to believe. We are only in the beginning storms with these significant rallies from 10 to 20 dollars. I will not be surprised to see prices from hundreds to thousands in the coming months.

The world just isn't going to be the same and we have been blessed as the pioneers.

What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop?

I'm a believer like you, but a realistic one at that. I believe block chain is the future, crypt-currency is the future and consequently, bitcoin is something to look out for.
How amazing would it be if the prices plummeted to $1000+
I'm glad I witnessed the beginning of the new era though, that too so closely. The future is exciting

[Bitcoined-Me]

http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/

After reading this, the scale of black market and digital economies and the effect Bitcoin will have on them I am pretty certain we are going to be very wealthy men -- even with a sum as small as 10 Bitcoins. It's just so hard to believe. We are only in the beginning storms with these significant rallies from 10 to 20 dollars. I will not be surprised to see prices from hundreds to thousands in the coming months.

The world just isn't going to be the same and we have been blessed as the pioneers.

What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop?

I'm a believer like you, but a realistic one at that. I believe block chain is the future, crypt-currency is the future and consequently, bitcoin is something to look out for.
How amazing would it be if the prices plummeted to $1000+
I'm glad I witnessed the beginning of the new era though, that too so closely. The future is exciting

Couldn't agree more with this! 

[explorer]

does anybody really feel that it will go back to 1200$ (practically)

If it doesn't go astronomically past that point, it is a fail that will just disappear. 

[Beliathon]

does anybody really feel that it will go back to 1200$ (practically)

If it doesn't go astronomically past that point, it is a fail that will just disappear.  

This is correct. Longterm, the price per coin and market cap must continue increasing with difficulty or the incentive system would fall apart because btc wouldn't be profitable to mine.

I think bitcoin will sail past 12,000 United States promissory bancnotes. Transparent decentralized mathematics vs. The full faith and credit of a military empire currently sliding into collapse and economic ruin...

This isn't that hard to predict. No hegemony in history lasts forever.