What will BTC be worth in 12 months

[Bitco]

Based on the poll choices, no possibility of going down?  Hang on a second let me take out a second mortgage real quick.

LOL... Tell that to your customers at Bitcons Direct.

[chmod755]

It'll depend more on the value of the currency you're comparing to than the value of bitcoin.

That's not true.  As more people around the globe start using bitcoins the more scarce they become, which increases their value.

It is true.

1 BTC = ~13.5 USD (right now)
1 USD = ~2 BRL

→ 1 BTC = ~27.00 BRL

Let's say a lot of people start investing in Brazilian real for some reason:

1 BTC = 90 USD ↑
1 USD = 0.25 BRL ↓

→ 1 BTC = 22.50 BRL ↓

[lennox]

since this is just a poll, i say around $20

[mjc]

I'm starting to think you've asked the wrong question.

Perhaps:   How many dollars will a Bitcoin buy in 12 months?

 How much wood could a woodchuck.......

[odolvlobo]

People buying and hoarding bitcoins are responsible for the mania that results in the crashes that occur a few times every year, and they are the ones most hurt by these crashes.

If you are about to buy bitcoins because you expect the price to quadruple next year, then you are about to make a big mistake. Absurd expectations are a classic feature of a bubble just before it bursts.

I don't feel comfortable when the value of BTC is increasing much faster than gold or silver or other currencies against the dollar or the euro. It's an indication of a bubble fueled by irrational expectations.

[Razick]

Why did I listen? I was going to buy Bitcoins when they were $5 each. I think unless Bitcoins legal prospects (or technical prospects) change, the price will continue to rise, although probably slowing gradually, and will be between $17 and $25 in December of 2013.

If governments start spewing crap at it, then unfortunately, I think Bitcoin won't do too well.

[nobbynobbynoob]

Major crashes seem mainly driven by scares such as exchange hacks, not hoarding. Hoarders could only crash the market if they decided to dump sufficient BTC in one go, right?

[odolvlobo]

Major crashes seem mainly driven by scares such as exchange hacks, not hoarding. Hoarders could only crash the market if they decided to dump sufficient BTC in one go, right?

And they dump at the first sign of trouble because they realize they might actually lose money instead of making 1000%.

[BitcoinBA]

The price of Bitcoin will rise permanently as it is a deflationary currency.

But if the "big fish" like smoothie - the biggest owners of bitcoin keep doing this shit speculation like today, people will find it risky to use bitcoins... that's the danger.

The big speculators underestimate their influence on the market, they can destroy the future of bitcoin just for their own interrest. They would earn more if they just left it alone and bitcoin would become mainstream...

That's my opinion...

[Razick]

People buying and hoarding bitcoins are responsible for the mania that results in the crashes that occur a few times every year, and they are the ones most hurt by these crashes.

If you are about to buy bitcoins because you expect the price to quadruple next year, then you are about to make a big mistake. Absurd expectations are a classic feature of a bubble just before it bursts.

I don't feel comfortable when the value of BTC is increasing much faster than gold or silver or other currencies against the dollar or the euro. It's an indication of a bubble fueled by irrational expectations.

You are right to a certain extent, but Bitcoin's already had it's huge bubble, and seems more stable now. The expectations aren't entirely irrational because the supply of Bitcoins is drying up (as far as mining goes) and the demand is presumably rising as more people adopt. I think growth will slow, but Bitcoin probably isn't done just yet.

That being said, I would welcome a mini-crash to about $8 so I can buy some! I made the mistake of missing out when they were $5.

[coins4cash]

Sorry I didn't put an option on the poll for the price to drop, most people seem to think they're on the way up anyway but still I should have put some lower choices on the poll.

I'll keep the poll open as this is turning into quite an interesting thread, I'm enjoying this forum a lot already.

c4c

[Snipes777]

I think it depends on several factors. If there is some sort of currency collapse by which people start to use bitcoin to replace their fiat transactions, that will be beneficial.

However, what I really think it will come down to is the bitcoin entrepreneurs creating technologies that become relevant to individuals. Once the average person can make bitcoin purchases at any store with a debit card, similar to what Paymium has begun to do in Europe, when someone can plug a safe into a wall that securely stores bitcoin savings with no setup or technical knowledge from the user, once bitcoin transactions into fiat currencies are instant and fluid, once I can get direct deposit in bitcoins. These are the types of things that lead to bitcoin being so easy and enjoyable for an individual to use without technical knowledge to make every day transactions, even from businesses who do not currently accept bitcoin.

Who knows what one thing develops that gets a million people to join bitcoin. Once a debit card comes out, I have at least 6 friends who will join. The potential is amazing.

[psybits]

I'd say there is a 90% chance that they'll be worth more at the end of 2013 than today. I'm not sure of the exact amount but I believe that one day a Satoshi will be worth 1USD - one day!

I only discovered bitcoin a few days ago (I've been travelling the world and lost in the wilderness too long), and I think this is like the start of the internet all over again, this will be just as revolutionary if not more so. Everyone is saying "I wish I had bought more when they were cheaper" or "it's too late for me" what these people don't realise is that THIS IS the early days - bitcoin is still way on the fringes which is a great thing for us early adopters

They will be worth more at the end of 2013 - how much more? Nobody really knows but in the long term over 5 - 10 years or so you are looking at MASSIVE gains

[nobbynobbynoob]

I'd say there is a 90% chance that they'll be worth more at the end of 2013 than today. I'm not sure of the exact amount but I believe that one day a Satoshi will be worth 1USD - one day!

The way The Bernank' is printing, that day may arrive sooner than expected.

They will be worth more at the end of 2013 - how much more? Nobody really knows but in the long term over 5 - 10 years or so you are looking at MASSIVE gains

Massive gains or fail are the two most likely scenarios, in my (and some others') opinion.

[btc-lottery]

Why isn't there a "stays the same" option?

[LoweryCBS]

Why isn't there a "stays the same" option?

Man, that's crazy-talk.

[Lab_Rat]

Why isn't there a "stays the same" option?

Man, that's crazy-talk.

Agreed, it's not allowed to stay the same, and it's definitely not allowed to go down.

[mc_lovin]

$TEXAS

[TooCasual]

Well they might not be worth anything if the world goes to hell... Dec 21 2012... Hehe. 

[BitcoinBA]

Compare with Paypal

Total ammount of transactions in 2009 - 71 billion USD

Bitcoins in circulation 10 500 000

71 000 000 000 / 10 500 000 = 6761 usd/btc

This is just to have some approx. imagination