When in 2013 shall Bitcoin break its all-time-high of $31?

[Bitcopia]

I personally wouldn't identify Bitcoin as fiat currency, at least not in the sense of "by legislative fiat". There are no legal-tender laws granting special privilege to bitcoin. However, calling it fiat isn't strictly wrong, since fiat is Latin for "let it be done", thus the interpretation of the word can be flexible.

Isn't a fiat currency by definition issued by or at least backed by government?

That's how I think of it, yes, but the world fiat is a bit more flexible than that in its true meaning. Personally, I do not consider bitcoin to be a fiat currency at all, even though it isn't gold or silver.

Yeah I don't think most would consider it fiat currency either. I see what you mean about the definition of fiat, but I think the word takes on a different meaning when you throw the word currency behind it.

[chriswilmer]

Guys I just want to say... I did some back of the envelope calculations... and I also had some bourbon... if we break $31...

... I'll be rich. *raises glass*

[proudhon]

Guys I just want to say... I did some back of the envelope calculations... and I also had some bourbon... if we break $31...

... I'll be rich. *raises glass*

So, those 22BTCs are yours then?

[chriswilmer]

Guys I just want to say... I did some back of the envelope calculations... and I also had some bourbon... if we break $31...

... I'll be rich. *raises glass*

So, those 22BTCs are yours then?

I think we can do it... by we I mean you guys. Just spend another $2 million on bitcoins, and I'll have my $682

[bitboyben]

Sweet you could buy... some more, umm.... GPUs?

[waspoza]

The price will drop back down under $4 when people cash out to buy Christmas presents like last year.

So, where's the $4? I wanna buy some coins. 

[goldlyre]

I'll reply to this thread both periodically (at end of each quarter) and aperiodically (as now).

Now it's first quarter of 2013, let's ride the bull and see in the mean time...

Anyway, let's kindle some fireworks now to celebrate both the bull run and the Lunar New Year (the Year of Snake).

Happy New Year!!!

[jgarzik]

And the answer is... today!

[qwk]

Guys I just want to say... I did some back of the envelope calculations... and I also had some bourbon... if we break $31...

... I'll be rich. *raises glass*

So, those 22BTCs are yours then?

I think we can do it... by we I mean you guys. Just spend another $2 million on bitcoins, and I'll have my $682

Just out of curiosity: what are you gonna do with your $682 now?

[goldlyre]

The correct answer is First Quarter. It means that the up-trend of Bitcoin is way too strong than the average expactation of its participators.

[waspoza]

I don't think so.  2015 or maybe 2014.  The surges in prices are less extreme now.  I don't think we will see any +100% years.  $20 maybe.

This.  There are simply too many holders of large collections of bitcoins and as the price increases it's easier and easier for less and less bitcoins to push it back down.  There'd need to be a lot more money on MtGox to get back to $31 and that's just to get there.  There'd need to be even more money to keep it there.  We're probably years away from that.

It's funny to read (not so) old prediction threads. 

[cbeast]

Let's call this rally the Kutcher Effect. It may be short lived, but if the devs (and the wannabes like me) keep the innovations going, the hype cycle will continue.

[oakpacific]

http://bitcoincharts.com/charts/mtgoxUSD#igDailyztgSza1gSMAzm1g200zm2g25zxzi1gRSIzv

Bitcoin actually defies technical common sense, the exponential curve and red forest the RSI painted on the right sides of the charts are just glaring.

[piramida]

I don't think so.  2015 or maybe 2014.  The surges in prices are less extreme now.  I don't think we will see any +100% years.  $20 maybe.

This.  There are simply too many holders of large collections of bitcoins and as the price increases it's easier and easier for less and less bitcoins to push it back down.  There'd need to be a lot more money on MtGox to get back to $31 and that's just to get there.  There'd need to be even more money to keep it there.  We're probably years away from that.

It's funny to read (not so) old prediction threads. 

Gets funnier every year!

[piramida]

4th quarter - 2$

nailed it!

[600watt]

great find. good to see that the same crap was written all along.

$ 31

Wow.

[Dafar]

Can't wait to bump threads like this next year.. threads saying when will BTC break $10k? With 90% of people saying never or in 2-3 years... hopefully we'll look back and laugh at $10k/btc and move on to speculating $100k/btc

[kireinaha]

Can't wait to bump threads like this next year.. threads saying when will BTC break $10k? With 90% of people saying never or in 2-3 years... hopefully we'll look back and laugh at $10k/btc and move on to speculating $100k/btc

How high is it going to get this year? I need to know how much to invest.

[Dafar]

Can't wait to bump threads like this next year.. threads saying when will BTC break $10k? With 90% of people saying never or in 2-3 years... hopefully we'll look back and laugh at $10k/btc and move on to speculating $100k/btc

How high is it going to get this year? I need to know how much to invest.

Safe/expected: ~$2000-$4000

Possible and not too unlikely: ~$5000-$10,000

Bullish: $10,000+

Amazing (2014 = year of bitcoin): $20-$40K

Or we crash and burn... almost as likely as all the other scenarios.

[pungopete468]

I see plenty of sad old bears in this thread...

If you want to win the Bitcoin game you need to buy and forget. Check back in a year...