Data proves Bitcoins are rising to 1000+

[cypherdoc]

@finnthecelt

Haha, nice. Weimar cash pictures, the first is a lady burning them for heat. The second shot I suppose is a man out to buy a loaf of bread. Or to stop up a leak in a basement wall.

no, no, that Ben Berspankme's grandfather.

[d3wo]

LOL! a snail 

[Bit_Happy]

This is proven with a mathematical linear regression, which is used by market experts to forecast future values. This regression clearly shows a trend towards 1000+, and could possibly even hit over 9000!

Buy everything!

How can you call that a trend-line when it is clearly broken?

[imperi]

The economic theory of linear regression always holds true, and the data never lies.

[Bit_Happy]

The economic theory of linear regression always holds true, and the data never lies.

You don't need to know much about reading charts to see that trend line is clearly broken.

[Oldminer]

And trends become instantly meaningless once they are broken

[RandyMarsh]

OH JESUS!? BitcoinSnail Is predicting a market end at 17$/BTC in late April 2011, and that at some point the market will begin spiralling through time

I for one welcome our new snail overlord.

[AnonymousBat]

You speculate every day you carry dollars, too.

You're holding on to them in good faith that the government won't screw up horribly and devalue them somehow. And unfortunately, that is the case. It is just a matter of 'when' the massive debts the U.S. is carrying crash upon our heads. There is no such thing as perfectly 'safe', but you better bet I'd rather hold bitcoins in the long run than fancy green toilet paper.

See, this proves bitcoins are worthless.

We can't even burn them to keep warm.

[Bit_Happy]

And trends become instantly meaningless once they are broken

I am not sure if you are being sarcastic there, Oldminer:

1) Time-frame is important. Of course, you can have a long-term uptrend and a short-term bear at the same time.
2) The OP"s trend-line is not just broken, it is shattered beyond repair. (Short-term)
3a) The market did rally up to over $18 when a "bear flag" had an unexpected breakout to the upside, yesterday eve.
3b) When a "clear signal" turns out to be false, sometimes that can trigger a huge move.

Don't expect $1,000 any time soon. The new game in town is called trading range.

[Ryland R. Taylor-Almanza]

You are a great man, Blitzboom.

[killer2021]

http://www.youtube.com/watch?v=mM3_z2RB3YU

[Oldminer]

http://www.youtube.com/watch?v=mM3_z2RB3YU

lol..inflation an issue? No problem. Just remove a few decimal points! 

[fujiwara]

I came for the lulz and I got what I was looking for
nice thread

[Phinnaeus Gage]

yeah, technically it's possible. Theoretically as well. But practically bitcoin is a speculation object that will only last until the majority of people realises that you can buuy about as much with a bitcoin as you can with a river pebble. Maybe even less.

Do you have a link for the sites that accept river pebbles? I happen to live near a river and I'm interested. In the meantime, I'll leave this.

https://en.bitcoin.it/wiki/Trade

Can I mine your river? http://www.google.com/search?um=1&hl=en&q=river%20pebbles&biw=1280&bih=685&ie=UTF-8&tbo=u&tbm=shop&source=og&sa=N&tab=if

[Klestin]

How can you call that a trend-line when it is clearly broken?

[Bitcoinreminder.com]

ahahahah ^^

[julz]

A proper reading of Trendy the BitSnail indicates that he's holding prices at around $17 (as marked by the centre of his deflationary-spiral shell)
but if you follow a line from his eye stalks just above his shell - he has a slightly longer view of about $34.

Who wouldn't take market advice from a bullish snail!?

[teflone]

A proper reading of Trendy the BitSnail indicates that he's holding prices at around $17 (as marked by the centre of his deflationary-spiral shell)
but if you follow a line from his eye stalks just above his shell - he has a slightly longer view of about $34.

Who wouldn't take market advice from a bullish snail!?

I see stability at the eyeball/antennas...  25 ftw

[kloinko1n]

Let's assume currencies lose half their buying power in a 10 years period, and that there is a world money supply of 4 trillion USD at the moment.
We know the max. number of BTCs possible is 21 million.
Then the maximum value a BTC could obtain is BTC 1 = (USD 16 trillion 20 years from now)/(BTC 21 million 20 years from now) = USD 750,000.
In current USD value, that would then be about BTC 1 = USD 250,000 as a rough and rounded estimate.

That is the upper limit on the BTC value, assumed that all financial transactions will be carried out through BTC at that time.

[finnthecelt]

Let's assume currencies lose half their buying power in a 10 years period, and that there is a world money supply of 4 trillion USD at the moment.
We know the max. number of BTCs possible is 21 million.
Then the maximum value a BTC could obtain is BTC 1 = (USD 16 trillion 20 years from now)/(BTC 21 million 20 years from now) = USD 750,000.
In current USD value, that would then be about BTC 1 = USD 250,000 as a rough and rounded estimate.

That is the upper limit on the BTC value, assumed that all financial transactions will be carried out through BTC at that time.

That's an interesting way to look at it but is not BTC already worth $16 USD? Now what if we also added the world's debt? Oh boy.....

I think in 20 years we will have multiple forms of money floating around as governments start to disintegrate. We cannot forget about the oil situation as well. Production is falling and demand is rising. This will complicate the ability of the world to pay debt. All that debt will collapse into things of value. And no the oil shales and alternative fuels will not take the place of oil.