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Question: When will bitcoin go to 400?  (Voting closed: June 14, 2011, 02:43:20 PM)
never - 46 (32.2%)
June - August 2011 - 8 (5.6%)
August - September 2011 - 13 (9.1%)
September 2011 - December 2011 - 30 (21%)
2012 or later - 46 (32.2%)
Total Voters: 143

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Author Topic: When will bitcoin go to 400?  (Read 3752 times)
Bashtee
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June 10, 2011, 07:46:53 PM
 #21

No one is going to want to jump through hoops to use a currency.

Well, people are doing it now and probably will later too. No difference brah.
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TheVirus
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June 10, 2011, 08:27:50 PM
 #22

No one is going to want to jump through hoops to use a currency.

Well, people are doing it now and probably will later too. No difference brah.

Bit of a difference between going through 1 local exchange and not having to worry about government interference than going through a foreign exchange and jumping through various hoops to get your cash, like having a check sent or a wire transfer, rather than a direct bank deposit. There is quite a difference.

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jibjabz
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June 10, 2011, 08:38:26 PM
 #23

I'm as big a bitcoin fan as anyone, but the "correct" answer has to be Never. If you think there's a greater than 50% chance of it hitting 400 in the next few years you should be buying every single bit you can afford because that would mean it's hugely undervalued right now.

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June 10, 2011, 11:00:56 PM
 #24

No one is going to want to jump through hoops to use a currency.

Well, people are doing it now and probably will later too. No difference brah.

Bit of a difference between going through 1 local exchange and not having to worry about government interference than going through a foreign exchange and jumping through various hoops to get your cash, like having a check sent or a wire transfer, rather than a direct bank deposit. There is quite a difference.

Well they failed with piratebay didn't they, and bitcoins are even more decentralized than bittorrent, Piratebay at least have a website where they share links to the torrents. Also, it's a lot easier for a government to explain why it's wrong to pirate then why it's wrong to trade in a virtual currency after mutual agreement. Don't forget that most of us live in a democracy or at least a approximation to one. If most people in, in this case US, are aware of bitcoins and don't agree with a banning of them, Obama will have to think twice. Now or never, now not so many people are aware of it


Looking for an easy way to charge bitcoins at: houseofreplicas.net, high quality replica watches. Using WP with the E-shop plug-in at the moment for charging credit-cards.
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bitcoin address: 1e8SHzCbxTJNo8LkNomeRppTSKX7rDwuB
jaimedimon
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June 11, 2011, 01:27:43 AM
 #25

If the government made accepting bitcoins illegal it will be the greatest thing that could have happened to bitcoin. Look what it did for reefer.

The only difference is that pot is a tangible good. What good is a virtual currency if you can't spend it? If no one will accept Bitcoins as payment then they're useless. If the government outlawed Bitcoins it would pretty much be the end of it. I feel like I'm repeating myself.

Bitcoins are made an illegal currency and companies can no longer exchange BTC for USD. Companies no longer accept BTC. BTC prices plummet. How hard is that to understand?

You are assuming that there will not be other sources of demand.  The world's  black market is huge.  Imagine how useful to people in this market an anonymous digital currency would be. 

qed
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June 11, 2011, 02:35:44 AM
 #26

I doubt it will even reach $100. But then again, people said the same thing about it reaching dollar parity.

What he said :-)

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RomertL
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June 11, 2011, 08:57:11 PM
 #27

If the government made accepting bitcoins illegal it will be the greatest thing that could have happened to bitcoin. Look what it did for reefer.

The only difference is that pot is a tangible good. What good is a virtual currency if you can't spend it? If no one will accept Bitcoins as payment then they're useless. If the government outlawed Bitcoins it would pretty much be the end of it. I feel like I'm repeating myself.

Bitcoins are made an illegal currency and companies can no longer exchange BTC for USD. Companies no longer accept BTC. BTC prices plummet. How hard is that to understand?

You are assuming that there will not be other sources of demand.  The world's  black market is huge.  Imagine how useful to people in this market an anonymous digital currency would be. 



Also, there will always be relatively easy to exchange USD to bitcoins. If the US gov and other govs outlaws bitcoin, exchange-markets will emerge in Panama, Isle of Man and some carribian  Islands and other such places where people today conduct "offshore banking". You would wire deposits to them and the US Gov can't do shit about it...

Looking for an easy way to charge bitcoins at: houseofreplicas.net, high quality replica watches. Using WP with the E-shop plug-in at the moment for charging credit-cards.
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bitcoin address: 1e8SHzCbxTJNo8LkNomeRppTSKX7rDwuB
TheVirus
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June 11, 2011, 11:05:00 PM
 #28

If the government made accepting bitcoins illegal it will be the greatest thing that could have happened to bitcoin. Look what it did for reefer.

The only difference is that pot is a tangible good. What good is a virtual currency if you can't spend it? If no one will accept Bitcoins as payment then they're useless. If the government outlawed Bitcoins it would pretty much be the end of it. I feel like I'm repeating myself.

Bitcoins are made an illegal currency and companies can no longer exchange BTC for USD. Companies no longer accept BTC. BTC prices plummet. How hard is that to understand?

You are assuming that there will not be other sources of demand.  The world's  black market is huge.  Imagine how useful to people in this market an anonymous digital currency would be. 



Also, there will always be relatively easy to exchange USD to bitcoins. If the US gov and other govs outlaws bitcoin, exchange-markets will emerge in Panama, Isle of Man and some carribian  Islands and other such places where people today conduct "offshore banking". You would wire deposits to them and the US Gov can't do shit about it...

In which case the average Joe isn't going to want to go through that trouble, which severely limits the marketability of the currency.

Donations welcome: 1H8Pj3qYqfzxqgHzMLLsL6hWGEN88QLdkb
RomertL
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June 11, 2011, 11:30:10 PM
 #29

If the government made accepting bitcoins illegal it will be the greatest thing that could have happened to bitcoin. Look what it did for reefer.

The only difference is that pot is a tangible good. What good is a virtual currency if you can't spend it? If no one will accept Bitcoins as payment then they're useless. If the government outlawed Bitcoins it would pretty much be the end of it. I feel like I'm repeating myself.

Bitcoins are made an illegal currency and companies can no longer exchange BTC for USD. Companies no longer accept BTC. BTC prices plummet. How hard is that to understand?

You are assuming that there will not be other sources of demand.  The world's  black market is huge.  Imagine how useful to people in this market an anonymous digital currency would be. 



Also, there will always be relatively easy to exchange USD to bitcoins. If the US gov and other govs outlaws bitcoin, exchange-markets will emerge in Panama, Isle of Man and some carribian  Islands and other such places where people today conduct "offshore banking". You would wire deposits to them and the US Gov can't do shit about it...

In which case the average Joe isn't going to want to go through that trouble, which severely limits the marketability of the currency.

Well that's how I do it already being from Europe (with mt gox). So from people outside US there will be little difference.

Looking for an easy way to charge bitcoins at: houseofreplicas.net, high quality replica watches. Using WP with the E-shop plug-in at the moment for charging credit-cards.
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bitcoin address: 1e8SHzCbxTJNo8LkNomeRppTSKX7rDwuB
Basiley
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June 12, 2011, 12:27:11 AM
 #30

between 150-200 to NY - 95%.
between 300-400 to NY - 75%.
rest options - 60% each :p
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