Bitcoin will hit $50 this month.

[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