I sold everything at $158/159 this morning

[vane91]

i think next year will be a similar bubble, sooner or later ,
but at the moment, anything over 200 is a bubble made by some high profile people investing.

[jamesblack]

I think you made a mistake, I believe that in September will arrive at least 300

[vane91]

I think you made a mistake, I believe that in September will arrive at least 300

It may for a few days... but 300 will not arrive until next halving in 2016 at least.

[Rampion]

I think you made a mistake, I believe that in September will arrive at least 300

It may for a few days... but 300 will not arrive until next halving in 2016 at least.

quoted for lulz

[i1andrei]

I think you made a mistake, I believe that in September will arrive at least 300

based on what?

[keatonatron]

I think you made a mistake, I believe that in September will arrive at least 300

based on what?

The hope that people will believe it, rush to buy coins, and therefore push the price over $300 

[nitefire]

I think you made a mistake, I believe that in September will arrive at least 300

based on what?

The hope that people will believe it, rush to buy coins, and therefore push the price over $300 

everyone listens to the forums and the trollbox

[Dr]

Bitcoin is not a bubble that will burst for the very simple reason that the demand will increase in the coming years.


There are new sites every day that accept bitcoins, including big ones. People living in of the 80+ countries that Paypal doesn't support can now turn to Bitcoins and pay with Bitcoins on sites like Wordpress. This increases demand as it gets more awareness.

The customers of tor sites like Silk Road and Black Market Reloaded is increasing monthly, thus increasing the demand.

People that send money to other continents (other currencies) have to pay a lot of taxes, costs and on top of that wait days if not weeks before the money reaches the other person. These people (mostly of our generation) will prefer to use bitcoins instead of their local country currency.

The first Bitcoin ATMs are coming out soon, maybe this year already.

You have to look at he bigger picture here. Bitcoins value will not drop significantly, it will just go up. Even if bitcoins would go below 80$ there would be so many people buying BTC (including me) that it will immediately drive the price up again.

Bitcoin is now at the beginning, in the 3 to 5 years I am confident the value will be close to at least 1000$ each. In the next 5 to 10 years it will go towards 5000$ each.

Do you really think that there isn't any way that Bitcoin can fail, in the short, medium or long term?

In my professional work I help advice start ups and even the ones that have a good product or service have a very high rate of failure. Less than 26% of Silicon Valley startups make it beyond a few years - and they are the ones that secured their first major investment round. We are still very much in the experimental phase and there are many many hurdles before we can say Bitcoin is here to stay.

The only thing I would bet on is that crypto currencies in some form are probably not going away - that is very exciting. Whether or not it is Bitcoin is another thing. First movers are rarely the winners. E.g. Facebook > Myspace > Friendster.

I actually expect to see a family of crypto currencies emerge in the next few years, all with unique properties that meet the various needs we have.

We are not the only ones taking it seriously:

Bitcoin: The Newest Tool In China’s Currency War Chest

At the end of last week China Central Television, a state-run broadcaster, aired a documentary offering an overview of bitcoin and its potential benefits. Given the tight controls the Chinese government has over mainland media, this was not just tacit approval from the world’s second largest and centrally-run economy. It was a continuation of an ongoing series of rhetoric and actions to undermine the US Dollar, as well as destabilize the beneficiary of global reserve currency status: the United States.

http://www.thegenesisblock.com/bitcoin-the-newest-tool-in-chinas-currency-war-chest/

[trigeek]

I think you made a mistake, I believe that in September will arrive at least 300

based on what?

The hope that people will believe it, rush to buy coins, and therefore push the price over $300 

everyone listens to the forums and the trollbox

Exactly... BUY BUY BUY! Either that or fake "news" articles from some random blog with no sources.

[LeTanque]

A lot of panic buying/selling. Trust your gut and stick with it.

Be careful with "trusting your gut".  This is also known as a system 1 thought or a reflex reaction.  Read "thinking fast and slow".

It's very easy to be fooled by incidental and unsubstantiated information when using system 1.  This is partially the reason markets behave the way they do. People are pattern seeking machines and with limited information, we can create convincing "patterns" from insufficient information.  Think making a judgement from a data set of 2.  Flip a coin 4 times and expect a 50/50 result; false.

So, my point is, look at fundamentals.  The fundamentals of bitcoin are unique so you really need to think about it, but they are there for the most part. Fundamentally, bitcoin has a lot of room to grow; think global currency.  Think math based currency banking adoption.  Think simplicity your Mom can use and the level of adoption at that point. Think regulation and the complexities of effect then.  Think efficient exchanges.  Think VC investment.  Think Ripple.  Think traditional payment system integration.   

[sexcoyote]

I think in a little while (3-4 months) will reach $ 700-800

[Rampion]

A lot of panic buying/selling. Trust your gut and stick with it.

Be careful with "trusting your gut".  This is also known as a system 1 thought or a reflex reaction.  Read "thinking fast and slow".

It's very easy to be fooled by incidental and unsubstantiated information when using system 1.  This is partially the reason markets behave the way they do. People are pattern seeking machines and with limited information, we can create convincing "patterns" from insufficient information.  Think making a judgement from a data set of 2.  Flip a coin 4 times and expect a 50/50 result; false.

So, my point is, look at fundamentals.  The fundamentals of bitcoin are unique so you really need to think about it, but they are there for the most part. Fundamentally, bitcoin has a lot of room to grow; think global currency.  Think math based currency banking adoption.  Think simplicity your Mom can use and the level of adoption at that point. Think regulation and the complexities of effect then.  Think efficient exchanges.  Think VC investment.  Think Ripple.  Think traditional payment system integration.   

Well, fundamentals says: long term 1 Bitcoin can only go to 0 or to hundred of thousands $. There's really no other option.

[redditgirl]

You are looking smart now because it isn't getting back to $160 anytime soon.  And I bet you bought back 3x as much at 50.

[Rampion]

You are looking smart now because it isn't getting back to $160 anytime soon.  And I bet you bought back 3x as much at 50.

Well, if he bought at $50ish that was a badass move. Not easy at all to catch the bottom.

[yefi]

That will never happen, ever on any asset/currency.  Someone is ALWAYS looking for a quick buck.  People "flip" stocks, cars, houses, foreign currency, precious metals, etc all looking for a "quick buck".  There never has been, nor ever will be a market where someone isn't looking for a quick buck.  So if that is the gold standard log out, give away all your fiat, BTC, and anything which can be traded and revert to barter.

Well, it was an exaggeration. There will always be people trying to make a quick buck from Bitcoin. But should the pattern present ever lower and more subdued highs, then this short-term interest will gradually dry up and a much greater proportion of the capital invested will lay in the hands of the long-termers.

[pjheinz]

BTC bottom 87$ top 287$.. ---> next 12 months

talk to me in a year

[jimi8383]

Nobody knows anything.

smartest man in the room

[sleevedbiker]

I think in a little while (3-4 months) will reach $ 700-800

I disagree. I think it will be between $170-$190 in 3 months.
I think with ASIC the price will go up to $300 but not for at least 6 months.

[101Official]

The number of bitcoins will go up by about 11-12% in the next year. Even if the exchange rate stays constant, then the currency will be doing well compared to most fiat.  I know it's hard, but let's keep the HYIP-style prognostications out of bitcoin.

[sleevedbiker]

The number of bitcoins will go up by about 11-12% in the next year. Even if the exchange rate stays constant, then the currency will be doing well compared to most fiat.  I know it's hard, but let's keep the HYIP-style prognostications out of bitcoin.

Yeah, but you have to keep in mind that the people who can't afford or get a hold of an ASIC rig will pay more when they're harder to mine(as long as more companies continue to except bitcoins)