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Author Topic: Price will be $5 by the end of this month  (Read 3191 times)
bacsilove
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June 17, 2011, 06:39:55 PM
 #21

Do you guys think that the price will be at $5/1BTC by the end of this month?

Glad to see you're out of the hospital. First "the rapture", now the vague BTC prediction. Cheesy

Because if it is drops anymore I'd have to take my 3 5830 back to Frys.

Please do. Fewer miners means more BTC for me. Smiley

You sound upset. lol
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GeniuSxBoY
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June 17, 2011, 06:42:02 PM
 #22

That's what I hear but if trojans keep stealing people's coin by the thousands and the robbers sell them on mt gox, the USD is going to dry up and people are going to give it up.

 
That's the only people that I know that would sell so many bitcoins at 1 time and take that big of a loss
btcminer
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June 17, 2011, 06:43:46 PM
 #23

This looks like a troll post.

Subject says "Price WILL be $5 by the end of this month"

His actual post says "Do you guys think that the price will be at $5/1BTC by the end of this month?"

Enough said. Stop feeding the troll.
boris_37
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June 17, 2011, 07:41:48 PM
 #24

You know what. I really hope it drops to $5.. I would be incredibly happy.

$5 does 2 things

1) Scares off all the people casually doing this. Now i know you don't NEED to be a hardcore farmer to get it, but it will scare off enough people it will stabalize the difficulty a bit for a little while.

2) Give people the option to buy again. @ $20 it's a bit too steep for my tastes.
entens
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June 17, 2011, 07:50:19 PM
 #25

I'm guessing that we'll see controlled sell off until we reach past the $5 mark. The price will oscillate back up eventually. The recent news cycle on bitcoins has generated interest that will translate into higher valuation as bitcoin sees adoption for commercial use.
bitoption
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June 17, 2011, 08:19:54 PM
 #26

boris_37, $7 puts are likely extremely cheap on bitoption.org if you want to make a bet on that kind of price movement.

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Bastet
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June 17, 2011, 08:32:31 PM
 #27

Unless some new hardware increases hashing significantly, the ever increasing difficulty rate will ensure only a few will be able to make a profit from mining ("few" being relative here to the average user.)  So current mining rigs are currently reaching their limit and pushing the break even price further down the road.  That is, until the Bitcoin/USD sky rockets and makes it profitable again.

But I strongly feel mining and Bitcoin exchange are closely related which should help stabilize the market (if speculators weren't screwing things up enough.)
BTC-Joe
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June 17, 2011, 08:59:11 PM
 #28

Bitcoin just received a massive media blitz and many people previously unaware of Bitcoin's existence are now suddenly interested in it. I'm sure that the idea of running a program on your computer to "mine" coins appeals to just about everyone, so you get an influx of coins...but like all markets it's going to have its peaks and valleys.

The finite number of bitcoins will certainly drive their value up that limit is approached, and those who are mining today may be able to sell 0.1 BTC for $5 rather than 1.0 BTC for $5...in other words $50 per BTC...but the real benefit isn't exchanging BTC for a real currency - it's using BTC as currency itself.
defacen
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June 17, 2011, 09:16:42 PM
 #29

Mining is definitely not a way for the average joe to make extra money. You have to be dedicated and know what you are doing.

Sums it up, I'd take the cards back imo.
Athenus
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June 17, 2011, 09:46:45 PM
 #30

I'm sure that the idea of running a program on your computer to "mine" coins appeals to just about everyone, so you get an influx of coins...but like all markets it's going to have its peaks and valleys

The bitcoin algorithms makes sure a constant amount of coins are generated until the limit is reached. So more miners doesn't mean coins are generated faster, it means the difficulty of meaning will increase.
BTC-Joe
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June 17, 2011, 10:36:17 PM
 #31

I'm sure that the idea of running a program on your computer to "mine" coins appeals to just about everyone, so you get an influx of coins...but like all markets it's going to have its peaks and valleys

The bitcoin algorithms makes sure a constant amount of coins are generated until the limit is reached. So more miners doesn't mean coins are generated faster, it means the difficulty of meaning will increase.

I know that's how it is supposed to work, but doesn't the "difficulty" effectively control the rate at which coins are generated? If there is a sudden burst of hashing power then it could result in more coins being generated before the difficulty adjusts to compensate. To an extent I think something like that happened within the last few days.
you2
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June 17, 2011, 10:49:49 PM
 #32

5$ per BTC would be realy bad, because we had to rethink our pricing (and reprogramming the interface too ;-)

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bacoboy
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June 17, 2011, 11:20:21 PM
 #33

http://www.youtube.com/watch?v=85cL1HisrNc
 Wink
JohnnyScience
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June 17, 2011, 11:35:36 PM
 #34

I hope so!
blendergasket
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June 18, 2011, 04:40:29 AM
 #35

I hope so!

Likewise.
zerokwel
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June 18, 2011, 05:28:12 AM
 #36

I was hoping it was going to drop a little lower last night then fell asleep. I am inbetween buying hardware or coins... if the price drops buy coins for when it goes back up... if it just goes up with no major drop get hardware
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June 18, 2011, 05:40:33 AM
 #37

Do you guys think that the price will be at $5/1BTC by the end of this month?

Glad to see you're out of the hospital. First "the rapture", now the vague BTC prediction. Cheesy

Because if it is drops anymore I'd have to take my 3 5830 back to Frys.

Please do. Fewer miners means more BTC for me. Smiley

You sound upset. lol
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DocEvil
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June 18, 2011, 05:51:51 AM
 #38

This thread... is bullshit...
Bitman_Begins
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June 18, 2011, 05:54:29 AM
 #39

Do you guys think that the price will be at $5/1BTC by the end of this month?

Erm..no!!  Tongue

What sort of factors are we looking for anyway as to what will make BTC go up/down??

Has anyone noticed Max Keiser on RT advertising BTC??


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themrhk
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June 20, 2011, 04:24:26 PM
 #40

i dont think it will go down to 5$/1BTC by the end of the month. even though there has been a serious drop due to the hack of mtgox and various other reasons i can only agree with Jordoss as my opinion is also that the price of BTC can only go up in the future.

thanks for any donations Smiley

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