There will be more 4-5 bubbles before the value will reach its place in my opinion.
Actually there's probably only 3 more "main" bubbles to go, since there's been a repeat of the 10X per year for the last 6 years, 6 times already it's repeated up to now:
1 ) .1 cent to 1 cent
2 ) 1 cent to 10 cents
3 ) 10 cents to $1 dollar
4 ) $1 dollar to $10 dollars
5 ) $10 dollars to $100 dollars
6 ) $100-ish to $1,000 (we're still in the middle of this wave)
That's SIX since 2008-2014 inclusive, up to today as mid-2014
So, only really THREE more possible repeats of the 10X per year (or per 2 years or so, maybe):
7 ) $1,000 to $10,000
8 ) $10 Grand to $100,000
9 ) $100 Grand to $1,000,000
At $1 million per bitcoin we max out at
SlipperySlope's maximum model, and while some have speculated that BTC could go even HIGHER, seems to me that with ONE SATOSHI being a millionth of a single whole bitcoin, in order to preserve the ability of merchants to price things in the normal fashion, that a Penny-Per-Satoshi is kinda hard-coded into the current bitcoin software.
In other words, if ONE BTC went to $5 million that would mean the maximum division of .00000001 BTC (satoshi) would be worth 5 cents, so nothing could then be priced for sale LOWER than a nickel: things would have to be priced as "1.95" and so on, no more "1.99" possible.
This problem -- pricing things only at .05 and never less -- is the main issue they've had for YEARS in attempts to finally get rid of the PENNY (it costs the government more to make pennies than they are worth, and HAS for many years. They'd LOVE to be able to eliminate the penny, but have just never been able to do it...)
Of course with bitcoin being "just software" the maximum division could always go lower than 8 decimal places... but that'd require a change to the code, so it seems to me that for the time being it's prudent to assume 8 decimal places means a penny per Satoshi maximum.
Anyway, HEY let's just get to $1M per BTC first, eh?
Then deal with this "problem" later, LOL.
That's good enough for me, no quibble here if BTC only ever gets to "just" a single measly million
I like you, I was a buyer at 1200.. 900.. 600 and 500 .. lol.
Ha... love the Milton pic but y'know, actually, this is NOT a WRONG thing to DO, even deliberately (never mind just being the suck at timing, LOL)
It's called "dollar cost averaging" actually, and basically if you're buying a volatile asset that you expect to grow in value overall, but you can't TIME the purchase very well, just by regularly putting in SOMETHING you're reasonably assured to get a decent "average" price for the whole batch in the end.
Buy one BTC for 1200
One more for 900
One more for 600 (better yet, a couple)
One more for 500 (better yet, maybe 3!)
So you have 4+ BTC and you paid 3,200 for the pile, or "only" $800 each on average. Not so good buy as if you nailed the $500 price for all of 'em but also not so bad a soaking if you totally missed the timing and put in all your money at the TOP price of 1200.
Also, this way the price only has to bounce back from the low point of 500 to about 801 (not all the way to your starting buy price of 1200) before you can say you're showing a profit.
As long as the long-term price is going to $2000+ anyway, or the MOON (!!) your average buy price of $800 is pretty good timing in hindsight!!
