Bitcoin Forum
November 09, 2024, 04:27:24 AM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Predicing btc to fiat stabilization ?  (Read 1198 times)
realityfalacy (OP)
Newbie
*
Offline Offline

Activity: 14
Merit: 0



View Profile
February 13, 2013, 06:59:03 AM
 #1

Is there any way to predict when the btc will stabilize ? and does any one know why it keeps going up or is it all speculation ?
solex
Legendary
*
Offline Offline

Activity: 1078
Merit: 1006


100 satoshis -> ISO code


View Profile
February 13, 2013, 07:12:15 AM
 #2

The world fiat monetary base (M0) which is cash and cash equivalents is in the region of $10 trillion.
Think of cash as payments which are the end-point extinguishing a transaction. (If you pay on credit card then you just open up a new transaction, a debt, as the purchase is made, so credit money is not M0).

If Bitcoin grew to supersede nearly all fiat (which is feasible given its huge inherent advantages), and this takes place when about 15 million BTC have been created,
 then the maximum price for a bitcoin would be in the region of $700,000 each in 2013 dollars.

Considering that a currency war is hotting up then there may be a lot of printing in the next few years, so perhaps $1 million per BTC is a round number to keep in mind.

This is not considering the impact of the FRB system likely disappearing, and a huge percentage of the $1000 trillion world derivatives markets, which would have a hard time existing in a stable monetary base system. The benefits are, according to Austrian economics, very little in the way of booms and busts.

I believe a significant amount of speculation is recognition that there is a possibility this may all happen.


dstriker
Newbie
*
Offline Offline

Activity: 28
Merit: 0



View Profile
February 13, 2013, 08:51:27 AM
 #3

If there a person could earn BTC only and buy everything with BTC, then it would be stable the other currencies would not be stable.

Consider

USD->CAD
USD->EUR

Or other currencies.
sublime5447
Legendary
*
Offline Offline

Activity: 966
Merit: 1000



View Profile
February 13, 2013, 04:49:23 PM
 #4

The price will stabilize when there is a competing digital currency. That is why I have been trying to grow litecoin.
realityfalacy (OP)
Newbie
*
Offline Offline

Activity: 14
Merit: 0



View Profile
February 13, 2013, 05:40:52 PM
 #5

Are there any predictions when or how soon the market will stabilize? Also what was the highest value it has reached and how long did it stay there? I know i could prolly look this stuff up but im lazy any info would be appreciated thanks
justusranvier
Legendary
*
Offline Offline

Activity: 1400
Merit: 1013



View Profile
February 13, 2013, 05:44:01 PM
 #6

There are two possible stable values for Bitcoin: the value it would stabilize at in a condition of ubiquitous adoption, and the value it would stabilize at with zero adoption. Until we reach one of those two states it's going to be a bumpy ride.
Peter Lambert
Hero Member
*****
Offline Offline

Activity: 756
Merit: 500

It's all fun and games until somebody loses an eye


View Profile
February 13, 2013, 05:48:37 PM
 #7

Are there any predictions when or how soon the market will stabilize? Also what was the highest value it has reached and how long did it stay there? I know i could prolly look this stuff up but im lazy any info would be appreciated thanks

It is hard to predict when it will stabilize. The current price is the current highest price (taking a weekly average price). In the past, the price has moved upward and then stabilized in about 8-10 week long movements, so it could stabilize in a couple weeks. Or it could just keep going up for a while.


http://bitcoincharts.com/charts/mtgoxUSD#igWeeklyztgSza1gWMAzm1g7zm2g25zvzl

Use CoinBR to trade bitcoin stocks: CoinBR.com

The best place for betting with bitcoin: BitBet.us
sublime5447
Legendary
*
Offline Offline

Activity: 966
Merit: 1000



View Profile
February 13, 2013, 07:28:37 PM
 #8

The higest price was 31. something
Peter Lambert
Hero Member
*****
Offline Offline

Activity: 756
Merit: 500

It's all fun and games until somebody loses an eye


View Profile
February 13, 2013, 07:34:55 PM
 #9

The higest price was 31. something

Depends on how you define the price. The highest price paid on Mt. Gox is about 32, but the highest price paid by anybody is higher than that (I think I saw somebody said they sold some for over 40).

Use CoinBR to trade bitcoin stocks: CoinBR.com

The best place for betting with bitcoin: BitBet.us
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!