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Author Topic: Bitcoin will be worth more than $10,000 by 2016  (Read 3889 times)
Faraday
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April 15, 2013, 12:20:22 PM
 #21

To be honest it seems there is pretty good reason not to trust bets of bitcoin.

They declared a bet with hundreds of btc wagered as a draw when it was clear that BFL hadn't shipped any product. They claimed the bet terms were ambiguous, why was the bet accepted in the first place then?
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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April 15, 2013, 12:41:14 PM
 #22

To be honest it seems there is pretty good reason not to trust bets of bitcoin.

They declared a bet with hundreds of btc wagered as a draw when it was clear that BFL hadn't shipped any product. They claimed the bet terms were ambiguous, why was the bet accepted in the first place then?

I have also lost out on a decent amount of bitcoins on another bet that was made a draw, and although I didn't agree with the way they handled things, I can understand why they did it.  You have to remember that they lose out on a lot of profit on these bets when they call it a draw.
Yes it is possible that they themselves were on the other side of the bet, but I think it is much more likely that now and then a bet was less clear than they thought it was, and they make it a draw if they feel that is the correct thing to do.  It's harder than you think to make things unambiguous.
So they still have my trust.
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April 15, 2013, 04:32:08 PM
 #23

Please make this on bets of bitcoin.  I will bet against this.

that comes as surprise, very out of character for you proudhon

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April 15, 2013, 10:47:02 PM
 #24

With the price dropping so low...SURELY it can never reach $10,000.

So you may want to bet against it. Some easy bitcoin to be made on a sure thing.

First seastead company actually selling sea homes: Ocean Builders https://ocean.builders  Of course we accept bitcoin.
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April 15, 2013, 11:00:19 PM
 #25

I think we'll see a BIG price rise after the reward halving if it's still alive by then. Bitcoin right now is has a very high rate of inflation and when it lessens it will do wonders for the value of it.
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