Bitcoin will hit $50 this month.

[🏰 TradeFortress 🏰]

If you told anyone a few months ago that Bitcoin will be $40, they'd be surprised. Bitcoin will easily hit $50 this month at the very least.

[psybits]

Seconded 

I don't really see how it can go down - Bitcoin seems to have evolved and many of the problems such as hackers taking off with very large chunks of BTC from exchanges and crashing prices seem to be a thing of the past ...

[molecular]

Seconded 

I don't really see how it can go down - Bitcoin seems to have evolved and many of the problems such as hackers taking off with very large chunks of BTC from exchanges and crashing prices seem to be a thing of the past ...

Have you been with us in 2011?

I can imagine it going down. Huge bad news, continuous bad press follwing, add some panic and voila.

I don't think it's time yet, though. maybe when we reached $225 or $450.

[Endgame]

Seconded 

I don't really see how it can go down - Bitcoin seems to have evolved and many of the problems such as hackers taking off with very large chunks of BTC from exchanges and crashing prices seem to be a thing of the past ...

I agree with the $50 prediction. As for the hacking of exchanges, unfortunately as the price of bitcoin increases, so does the incentive to hack exchanges. So I think we are actually more likely to see exchange hacks/thefts/inside jobs in the coming weeks.

[oakpacific]

Seconded 

I don't really see how it can go down - Bitcoin seems to have evolved and many of the problems such as hackers taking off with very large chunks of BTC from exchanges and crashing prices seem to be a thing of the past ...

I agree with the $50 prediction. As for the hacking of exchanges, unfortunately as the price of bitcoin increases, so does the incentive to hack exchanges. So I think we are actually more likely to see exchange hacks/thefts/inside jobs in the coming weeks.

If you think about it, bitcoin itself is ridiculously simple to secure, though tedious.

[psybits]

Seconded 

I don't really see how it can go down - Bitcoin seems to have evolved and many of the problems such as hackers taking off with very large chunks of BTC from exchanges and crashing prices seem to be a thing of the past ...

I agree with the $50 prediction. As for the hacking of exchanges, unfortunately as the price of bitcoin increases, so does the incentive to hack exchanges. So I think we are actually more likely to see exchange hacks/thefts/inside jobs in the coming weeks.

If you think about it, bitcoin itself is ridiculously simple to secure, though tedious.

These are good points. I just hope the key players have taken the necessary precautions.

[piramida]

Most big players are not holding much in hot wallets, so this part is secure. What worries me is cold storage. Afterall, it is a piece of paper. All it takes is one quick smartphone snapshot of the paper and boom, all gone. And when a big company and multiple physical locations are involved, too many people can have a brief opportunity.

So split key systems are a total must. I only heard about split-keys from coinlab so far.

[grondilu]

I don't think it's time yet, though. maybe when we reached $225 or $450.

 

[BIGMERVE]

Seconded 

I don't really see how it can go down - Bitcoin seems to have evolved and many of the problems such as hackers taking off with very large chunks of BTC from exchanges and crashing prices seem to be a thing of the past ...

I agree with the $50 prediction. As for the hacking of exchanges, unfortunately as the price of bitcoin increases, so does the incentive to hack exchanges. So I think we are actually more likely to see exchange hacks/thefts/inside jobs in the coming weeks.

You can also assume as the price goes up so does the incentive to protect your bitcoins.

[josiahgarber]

If you told anyone a few months ago that Bitcoin will be $40, they'd be surprised. Bitcoin will easily hit $50 this month at the very least.

I think it is hard to predict what will happen.  Bitcoin seems to me to be a boom or bust type investment.  Take the market cap of Apple and divide it by 21 million.  Kind of puts things in perspective.

[oakpacific]

Most big players are not holding much in hot wallets, so this part is secure. What worries me is cold storage. Afterall, it is a piece of paper. All it takes is one quick smartphone snapshot of the paper and boom, all gone. And when a big company and multiple physical locations are involved, too many people can have a brief opportunity.

So split key systems are a total must. I only heard about split-keys from coinlab so far.

Nothing too difficult, you just tear the paper in half, and put it in two secure storage places, also everyone has access to the storage place should sign a NDA. Doubt they will think it's something worth further ado.

[Piper67]

Most big players are not holding much in hot wallets, so this part is secure. What worries me is cold storage. Afterall, it is a piece of paper. All it takes is one quick smartphone snapshot of the paper and boom, all gone. And when a big company and multiple physical locations are involved, too many people can have a brief opportunity.

So split key systems are a total must. I only heard about split-keys from coinlab so far.

Nothing too difficult, you just tear the paper in half, and put it in two secure storage places, also everyone has access to the storage place should sign a NDA. Doubt they will think it's something worth further ado.

Armory is also coming up with a split key solution, apparently.

[Grouver (BtcBalance)]

If you told anyone a few months ago that Bitcoin will be $40, they'd be surprised. Bitcoin will easily hit $50 this month at the very least.

Thats what "they" said in 2011.

[Herodes]

Anything can happen. 

Some bad news with some of the big bitcoin companies, and the price could come plummeting down for instance.

[lebing]

Most big players are not holding much in hot wallets, so this part is secure. What worries me is cold storage. Afterall, it is a piece of paper. All it takes is one quick smartphone snapshot of the paper and boom, all gone. And when a big company and multiple physical locations are involved, too many people can have a brief opportunity.

So split key systems are a total must. I only heard about split-keys from coinlab so far.

Nothing too difficult, you just tear the paper in half, and put it in two secure storage places, also everyone has access to the storage place should sign a NDA. Doubt they will think it's something worth further ado.

Yeah, because an NDA will stop someone from walking out the door and onto a plane with 50,000 coins. =P

[Rygon]

Yeah, $50 seems about right, following the trend from January and February.

[Odalv]

Most big players are not holding much in hot wallets, so this part is secure. What worries me is cold storage. Afterall, it is a piece of paper. All it takes is one quick smartphone snapshot of the paper and boom, all gone. And when a big company and multiple physical locations are involved, too many people can have a brief opportunity.

So split key systems are a total must. I only heard about split-keys from coinlab so far.

It is easy to print encrypted.

[samson]

Unless there's a few really big sell offs I think it could hit $50-55 on or before Tuesday 12th of March.

If it gets that high before then I would take it as a warning sign that the growth is out of control.

[psybits]

Yeah, $50 seems about right, following the trend from January and February.

Yes, but the real question is - when does it end? $100? $500? More?

[oakpacific]

Most big players are not holding much in hot wallets, so this part is secure. What worries me is cold storage. Afterall, it is a piece of paper. All it takes is one quick smartphone snapshot of the paper and boom, all gone. And when a big company and multiple physical locations are involved, too many people can have a brief opportunity.

So split key systems are a total must. I only heard about split-keys from coinlab so far.

Nothing too difficult, you just tear the paper in half, and put it in two secure storage places, also everyone has access to the storage place should sign a NDA. Doubt they will think it's something worth further ado.

Yeah, because an NDA will stop someone from walking out the door and onto a plane with 50,000 coins. =P

NDA is just an additional safeguard, besides, where are you gonna sell it, other than Gox?
PS: I think Magicaltux maybe the only one with access to the Gox key, and I don't think they use a paper wallet, an offline computer with access control is more likely.

[piramida]

I think Magicaltux maybe the only one with access to the key.

Now *that* would be disastrous. I don't even talk about an accident leading to a loss of 100mil; let's say people are kidnapped left and right for 1% of that amount.

[Morblias]

Yeah, $50 seems about right, following the trend from January and February.

Yes, but the real question is - when does it end? $100? $500? More?

With all the news lately about Bitcoin, demand is only going to continue to grow. Who knows when it will end, but I don't see it stopping/slowing down anytime soon.

This shot demand up even more:
https://twitter.com/KimDotcom/status/308615839974817793
https://twitter.com/KimDotcom/status/308617409311432706

[Fiyasko]

Too many of these threads, C'mon people, atleast give us reasons as to why you think so in the OP

[oakpacific]

I think Magicaltux maybe the only one with access to the key.

Now *that* would be disastrous. I don't even talk about an accident leading to a loss of 100mil; let's say people are kidnapped left and right for 1% of that amount.

However many parts you split your key, you could still just randomly kidnap anyone of the keyholders and coerce all the others to cooperate to give you the money you want, this also applied to traditional banking, you simply can not eliminate the risk of kidnapping.

If the kidnapper can not coerce anyone else but MT, then they need to have physical access to the offline computer to finish the transaction(I meant he got the key to access the computer, not that he memorized the private key itself).

[piramida]

Yeah, the question is tricky, but still, at least two people should hold each part of the key, and they should not ever fly the same airplane Or better yet, bank vault account holder with a clear will about inheritance. I generally don't think a single human is reliable enough for any task, we are rather fragile.

[psybits]

Yeah, the question is tricky, but still, at least two people should hold each part of the key, and they should not ever fly the same airplane Or better yet, bank vault account holder with a clear will about inheritance. I generally don't think a single human is reliable enough for any task, we are rather fragile.

Maybe a p2p articial intelligence based on Bitcoin technology could hold the keys for safe keeping?

[bullioner]

Nothing too difficult, you just tear the paper in half, and put it in two secure storage places, also everyone has access to the storage place should sign a NDA. Doubt they will think it's something worth further ado.

Don't do this.  Split the key securely, for example using Shamir's secret sharing algorithm.

[Zangelbert Bingledack]

Already predicted two weeks ago.

[Delicieuxz]

Seconded 

I don't really see how it can go down - Bitcoin seems to have evolved and many of the problems such as hackers taking off with very large chunks of BTC from exchanges and crashing prices seem to be a thing of the past ...

I agree with the $50 prediction. As for the hacking of exchanges, unfortunately as the price of bitcoin increases, so does the incentive to hack exchanges. So I think we are actually more likely to see exchange hacks/thefts/inside jobs in the coming weeks.

If you think about it, bitcoin itself is ridiculously simple to secure, though tedious.

What needs to be done, that's tedious, to secure it? Just a curiosity.

[Jaw3bmasters]

Correction. Bitcoin will hit $60 this month.

[move_zig]

Yeah, $50 seems about right, following the trend from January and February.

Yes, but the real question is - when does it end? $100? $500? More?

I imagine somewhere from $200 to $400

[donjoe]

I imagine somewhere from $200 to $400

You're doing it rong. You should use the same horizontal, not vertical interval, because it's more likely that the duration the optimism survives will be the same, not the doubling rate. The doubling rate is obviously lower this time.

[molecular]

I imagine somewhere from $200 to $400

You're doing it rong. You should use the same horizontal, not vertical interval, because it's more likely that the duration the optimism survives will be the same, not the doubling rate. The doubling rate is obviously lower this time.

That would mean: soon.



But I don't buy it.

[molecular]

the volume in currency says: you can't compare what's happening now to 2011:

[donjoe]

That would mean: soon.

But I don't buy it.

No, it doesn't seem realistic on its own. It will probably be something in between, with optimism surviving longer because of the slower growth, but I still don't see any reason to assume there will be the same number of doublings.

[oakpacific]

Seconded 

I don't really see how it can go down - Bitcoin seems to have evolved and many of the problems such as hackers taking off with very large chunks of BTC from exchanges and crashing prices seem to be a thing of the past ...

I agree with the $50 prediction. As for the hacking of exchanges, unfortunately as the price of bitcoin increases, so does the incentive to hack exchanges. So I think we are actually more likely to see exchange hacks/thefts/inside jobs in the coming weeks.

If you think about it, bitcoin itself is ridiculously simple to secure, though tedious.

What needs to be done, that's tedious, to secure it? Just a curiosity.

http://bitcoinarmory.com/using-offline-wallets-in-armory/

See the offline transaction part.

[mb300sd]

Bitcoin will hit $50 this month week.

[Mike Christ]

Feels like it was just a week ago people were saying it'd never hit $30

[justusranvier]

Bitcoin will hit $50 this month week.

Probably before I wake up in the morning.

[Herodes]

Bitcoin will hit $50 this month week.

Probably before I wake up in the morning.

LOL

[🏰 TradeFortress 🏰]

Bitcoin will hit $50 this month week.

Probably before I wake up in the morning.

Actually, it's pretty close to $50 now.

[Mageant]

Maybe by the end of this week even.

[Jrock]

We are going to 50 real soon unless someone can trigger a panic and honestly with this amount of buying pressure I just don't think it's gonna happen in time.

[Nesetalis]

I was sure we were going to hit 50 a few minutes ago... but nope, panic sells all the way to -gasp- 43.90!
Seriously though, this market is nuts. Feels very different from 2011 though. I'm excited, can't wait for the bubble to pop...

[julius]

Last trade in bitstamp was for 47.37. We are almost there!

[Jrock]

It's funny how many people that were much more wealthy then I am to invest in Bitcoin and not a single one of them did.

A lot of them I told back when coins were going for about 4.50$ each.

Why do my friends never listen to me?

[lebing]

It's funny how many people that were much more wealthy then I am to invest in Bitcoin and not a single one of them did.

A lot of them I told back when coins were going for about 4.50$ each.

Why do my friends never listen to me?

Same goes for most all of us on this forum I imagine. The good news is its not too late to get in.

[Nesetalis]

It's funny how many people that were much more wealthy then I am to invest in Bitcoin and not a single one of them did.

A lot of them I told back when coins were going for about 4.50$ each.

Why do my friends never listen to me?

I know, right? room mate was talking about it in december, back when the price was around 11-12$... but he never did. Then when the price hit 27$ he kicked himself.. but he still didn't buy in.. now that its hit 47... hes just quiet.
I told so many people "the price is probably going to spike after december...  get in now." Not one person did XD

[Mageant]

It's funny how many people that were much more wealthy then I am to invest in Bitcoin and not a single one of them did.

A lot of them I told back when coins were going for about 4.50$ each.

Why do my friends never listen to me?

I had the same thing.

I've been telling some friends and family of mine since early 2012 at least.

They said it was "too risky".

Meanwhile, the price is up 9 times it was then.
 

[phatsphere]

personally, i have a "doubling" theory. all major prices so far are around powers of 2 minus 1. so, if this is true, next ATH is 63.

[molecular]

It's funny how many people that were much more wealthy then I am to invest in Bitcoin and not a single one of them did.

A lot of them I told back when coins were going for about 4.50$ each.

Why do my friends never listen to me?

I know, right? room mate was talking about it in december, back when the price was around 11-12$...

David Morgan repeatedly says something along the lines of: "Many people never buy at the bottom or when the price is low, they will make the decision and then hesitate and stand on the sidelines until the price goes up a lot. Only then they buy". (not exact quote).

[Fiyasko]

Freaking jumped by another $5 overnight again

[blackreplica]

We're one dollar away from hitting 50

Seems like its been gaining about 10% day on day the past few days pretty consistently.

[Timep34]

Looks like it might hit $50 today, crazy!

[piramida]

All investments I know of which grow 10% per day end up with disaster. I don't like this rate. 1% per day was much more sustainable

[Pteppic]

Oh, come on. I was actually doing some work for 10 mins there. How am I supposed to concentrate when I look up and find I just made another month's salary  

[samson]

All investments I know of which grow 10% per day end up with disaster. I don't like this rate. 1% per day was much more sustainable

I'm in agreement here, if it doesn't level off there could be a big correction.

[twolifeinexile]

All investments I know of which grow 10% per day end up with disaster. I don't like this rate. 1% per day was much more sustainable

Even 1% is crazy enough, if you calc it 365 days, that is up 37 times in one year. Is there any investment like that which is not poped up?

[blackreplica]

Anyone else out there thinking what I'm thinking? This kind of buying activity and accumulation in the last week didn't just come out of nowhere. I'm thinking it's insider information. Big players are starting to collect in anticipation of big news? I'm betting that if I'm right, it has something to do with the Gox-Coinbase thing

We are hitting 50 too quickly. It's already broken the exponential growth trend observed the past few months. Either theres a good reason for this (and we don't know it yet, but soon will) or there isn't, and we risk a correction)

[LoweryCBS]

Good god, somebody please hack somebody, scam some coins, something - this is insane. Slow this train DOWN!

[RodeoX]

Is someone making big buys in Europe? It seems like these spikes are happening overnight for us in the U.S.

[Morblias]

Anyone else out there thinking what I'm thinking? This kind of buying activity and accumulation in the last week didn't just come out of nowhere. I'm thinking it's insider information. Big players are starting to collect in anticipation of big news? I'm betting that if I'm right, it has something to do with the Gox-Coinbase thing

We are hitting 50 too quickly. It's already broken the exponential growth trend observed the past few months

I'm thinking this had something to do with it:

https://twitter.com/KimDotcom/status/308615839974817793

https://twitter.com/KimDotcom/status/308617409311432706

[blackreplica]

Morblias, you could be right there.

I live in timezone GMT + 8. During daylight hours over here is when i observe the greatest increase in price (considering past few days). When i woke up it was almost $45 and now before I sleep its already close to $50. All this demand could be coming from China which is smack in my time zone. Only question is how come now, and all at once? Was there some huge Chinese news on the bitcoin runup recently?

[RodeoX]

Morblias, you could be right there.

I live in timezone GMT + 8. During daylight hours over here is when i observe the greatest increase in price (considering past few days). When i woke up it was almost $45 and now before I sleep its already close to $50. All this demand could be coming from China which is smack in my time zone. Only question is how come now, and all at once? Was there some huge Chinese news on the bitcoin runup recently?

If it is coming from China, that could be interesting. There are many intriguing possible actors. 

[onealfa]

Good god, somebody please hack somebody, scam some coins, something - this is insane. Slow this train DOWN!

hmmm... WHY do you say this

$49.099 a while ago....  Hello FIFTIES !!!

[lebing]

Morblias, you could be right there.

I live in timezone GMT + 8. During daylight hours over here is when i observe the greatest increase in price (considering past few days). When i woke up it was almost $45 and now before I sleep its already close to $50. All this demand could be coming from China which is smack in my time zone. Only question is how come now, and all at once? Was there some huge Chinese news on the bitcoin runup recently?

If it is coming from China, that could be interesting. There are many intriguing possible actors. 

Yep.

https://bitcointalk.org/index.php?topic=146768.msg1589309#msg1589309

[julius]

Will reaching 50$ have some kind of special impact in speculators decisions? In other words, are the chances of a bubble bursting when we break a round number (such as 50, or 100) higher than reaching any other price?

[Bitcopia]

Will reaching 50$ have some kind of special impact in speculators decisions? In other words, are the chances of a bubble bursting when we break a round number (such as 50, or 100) higher than reaching any other price?

$50 is a large psychological barrier. Lots of people are willing to take profits here. Just look at the depth chart.

[molecular]

Is someone making big buys in Europe? It seems like these spikes are happening overnight for us in the U.S.

No, Asia.

When I get up in Europe, usually a big increase has happened over night. It continues (albeit slower) during the Euro-day and when the US people wake up you don't know what'll happen

[molecular]

Will reaching 50$ have some kind of special impact in speculators decisions? In other words, are the chances of a bubble bursting when we break a round number (such as 50, or 100) higher than reaching any other price?

$50 is a large psychological barrier. Lots of people are willing to take profits here. Just look at the depth chart.

True, but once a psychological barrier is broken, buying usually intensifies (because of the holdback). Sorta like when making love... well, that's a different story.

[Herodes]

Is someone making big buys in Europe? It seems like these spikes are happening overnight for us in the U.S.

No, Asia.

When I get up in Europe, usually a big increase has happened over night. It continues (albeit slower) during the Euro-day and when the US people wake up you don't know what'll happen

I would think many of the increases happens when americans are having their evening?

[samson]

I would think many of the increases happens when americans are having their evening?

Yes, I noticed this too.

I've often noticed big differences happen late in the afternoon through to about midnight US Pacific time.

This is midnight until 8am UK time.

[Tomatocage]

If you told anyone a few months ago that Bitcoin will be $40, they'd be surprised. Bitcoin will easily hit $50 this month at the very least.

I hope you're right. Is love to pick up some cheap coins!

[Coincrazy]

If you told anyone a few months ago that Bitcoin will be $40, they'd be surprised. Bitcoin will easily hit $50 this month at the very least.

it did today - april 11 - 2013

[piramida]

necrodig from when $50 seemed like "wow such high".

[samson]

necrodig from when $50 seemed like "wow such high".

Again I find myself looking forward to $50 Bitcoins...

[YipYip]

necrodig from when $50 seemed like "wow such high".

Again I find myself looking forward to $50 Bitcoins...

...lolz go hungry bearboy

[samson]

necrodig from when $50 seemed like "wow such high".

Again I find myself looking forward to $50 Bitcoins...

...lolz go hungry bearboy

lol, never say never !

[ElectricMucus]

Anyone else out there thinking what I'm thinking? This kind of buying activity and accumulation in the last week didn't just come out of nowhere. I'm thinking it's insider information. Big players are starting to collect in anticipation of big news? I'm betting that if I'm right, it has something to do with the Gox-Coinbase thing

We are hitting 50 too quickly. It's already broken the exponential growth trend observed the past few months

I'm thinking this had something to do with it:

https://twitter.com/KimDotcom/status/308615839974817793

https://twitter.com/KimDotcom/status/308617409311432706

loling at this

[piramida]

loling at this

The broken embedded gox chart is funny yeah

[serenitys]

Will reaching 50$ have some kind of special impact in speculators decisions? In other words, are the chances of a bubble bursting when we break a round number (such as 50, or 100) higher than reaching any other price?

$50 is a large psychological barrier. Lots of people are willing to take profits here. Just look at the depth chart.

True, but once a psychological barrier is broken, buying usually intensifies (because of the holdback). Sorta like when making love... well, that's a different story.

Not really...because if it busts over $50 and keeps going all the way back up toward the $1ks, I'm totally having an orgasm. 

[TERA]

Seconded 

I don't really see how it can go down - Bitcoin seems to have evolved and many of the problems such as hackers taking off with very large chunks of BTC from exchanges and crashing prices seem to be a thing of the past ...

interesting...

[Ibian]

Seconded 

I don't really see how it can go down - Bitcoin seems to have evolved and many of the problems such as hackers taking off with very large chunks of BTC from exchanges and crashing prices seem to be a thing of the past ...

interesting...

Karp stole the coins. There was no hack. Even a random guy like me can figure out how to set up an offline wallet, so can a billion dollar company.

[TERA]

So now that we're having these problems again, does that mean we shouldn't be above $50 anymore 

[Ibian]

So now that we're having these problems again, does that mean we shouldn't be above $50 anymore 

It means we do not have "these problems" again. No hack, just a thief who appears to be getting away with it.

[piramida]

But there were many hacks since then, even if you don't consider gox a hack (which I think it is, just in another meaning of the word "hack"). But really, $50 felt as something big, and after we crossed $200 shortly after, euphoria was at such high as if it was a baby jesus coming to life right before your eyes