Wall of Fame: Quotes of Bold Predictions

[bitleif]

By 2019 Bitcoin will be the only currency used by all intelligent civilizations across the universe.

[smoothie]

I also wanted to see one of these threads. Put your favorite quotes of bold predictions in this thread. Some details about the price at the time would be helpful.

Here is a quote from reptilia after price ran up to 145 then back down to 90 in the span of a week.

Btw, this is the last day when we see $95 EVER, you can quote me on that.  

Done.

We should have a wall of fame for these kind of statements.

Add this one to the wall of shame lol

[ironstove]

Single digits really is a bold claim  

The lowest valuation I could ever think of for BTC is $15, considering that the price per BTC was able to maintain it self @ $2-3 for such a long period of time with virtually no money going into the market, I believe with the number of speculators that are now introduced to the market, along with the potential shown for BTC to strike triple digits in a matter of days, $15 is an excellent position.

By December of 2013, I hope to see BTC in the high doubles or possibly triples again. However it's impossible to tell what even next week holds. Always an exciting commodity to watch!

[Jaroslaw]

By 2019 Bitcoin will be the only currency used by all intelligent civilizations across the universe.

Why bitcoin not litecon, namecoin, feathercoin, terracoin, or any other coin

[bitleif]

By 2019 Bitcoin will be the only currency used by all intelligent civilizations across the universe.

Why bitcoin not litecon, namecoin, feathercoin, terracoin, or any other coin

Because they all suck
(the aliens' opinion, not mine)

[Jaroslaw]

By 2019 Bitcoin will be the only currency used by all intelligent civilizations across the universe.

Why bitcoin not litecon, namecoin, feathercoin, terracoin, or any other coin

Because they all suck
(the aliens' opinion, not mine)

But its same technology like bitcoin ? so why not use them insted they are chepper. If you can have coca-cola for 90$ and pepsi for 3$ what you will choose ?

[Melbustus]

...
But its same technology like bitcoin ? so why not use them insted they are chepper. If you can have coca-cola for 90$ and pepsi for 3$ what you will choose ?

http://en.m.wikipedia.org/wiki/Network_effect

[Jaroslaw]

...
But its same technology like bitcoin ? so why not use them insted they are chepper. If you can have coca-cola for 90$ and pepsi for 3$ what you will choose ?

http://en.m.wikipedia.org/wiki/Network_effect

So eat shit, milions of flys cant be wrong ? ha ?

[ManBearPig]

In the last few days, the price went from $55 to $165, almost tripling in value.
From there, going to $500 in six months isn't very farfetch.

Yes but you're cherry picking the start and end points. Not only that but you're extrapolating that really quite unusual line to twice its length assuming we're looking at a log chart. Either use closing or weighted prices, ie. prices you were likely to have been able to buy at.

[randrace]

This guy comes as close as I've seen recently to calling SD. Proudhon Lives!

Bitcoin is clearly a better place to have your money than Liberty Reserve and at any given times there are probably billions sitting in LR. All that's needed is time to pass, so clearly Bitcoin is way undervalued.

If nothing goes wrong with bitcoin, you may well be right in the long run.

But for the speculator the question is a different one: Where is the price going in the short term?

For the next months the answer is generally: down. The price will fluctuate up and down, but overall it will go down, perhaps to $20, perhaps lower.

By the way, the price just went down to $90.

[Frozenlock]

In the last few days, the price went from $55 to $165, almost tripling in value.
From there, going to $500 in six months isn't very farfetch.

Yes but you're cherry picking the start and end points. Not only that but you're extrapolating that really quite unusual line to twice its length assuming we're looking at a log chart. Either use closing or weighted prices, ie. prices you were likely to have been able to buy at.

Okay, a few months ago the price was ~$10. It went up to $265, doubling almost 5 times.
Doubling 6 times would have gotten us beyond $500. Not that the price would remain there,
but I don't find the possibility of reaching this price really bold.

This is Bitcoin. Saying that the price will remain stable (<1%) for the next week would be bold.

[randrace]

Another Andrew Jackson Fan, and a Chart! Price is currently $92.

It's actually pretty simple. Basis Elliott Wave knowledge is sufficient to understand the BTC market.

Wave C will go down to where the "bubble" started. OK maybe not the full way ($10), but something like $20 or $25.

[dacoinminster]

Bah. Quotes made right now are boring. Put your money where your mouth is. I use betsofbitco.in

Now OLD quotes are interesting. Here's my official prediction I made on May 11th, 2011, almost two years ago:

I have a background in trading speculative stocks, and I can tell you that this kind of speculative price explosion usually collapses back to nearly nothing eventually (thanks Timothy Sykes).

However, I have my own reasons for believing that bitcoins won't collapse, and may in fact reach the astronomical values people are dreaming about. I'm keeping those reasons to myself for now until I get a chance to gather more bitcoins.

$1000/bitcoin won't make me filthy rich, but I might be rich enough to quit my day job and devote the rest of my life to ministry, raising my kids (and maybe foster kids?), and developing bitcoin-powered websites.

I'm going to step out on a limb and make some predictions about bitcoin price increases:

1) A lot of kids with graphics cards are going to get a LOT of spending money just because they saved the few bitcoins they mined after reading about it in a forum somewhere
2) The term "bitcoin billionaire" is going to become somewhat commonplace, and will refer to someone who became a billionaire through bitcoin investment.
3) The world's first trillionaire (by USD valuation) will be one of the first big investors in bitcoins.
4) This will all happen WITHOUT the collapse of the US dollar, and without bitcoins becoming a commonplace way to pay at the grocery store.

I guess we'll see if I'm right.

Note for posterity: current bitcoin price is in the $5-$6 range after a big run-up.

I still stand by that prediction completely. Edit: actually, I'm not so sure about #4 anymore.

[EuroTrash]

the price ran up $10 yesterday. today its down $10 and back where it started

this is a non-event. stop wasting everyones time just cause you bought higher yesterday and now are scared

[evolve]

This guy comes as close as I've seen recently to calling SD.

Uhhh, I called single digits earlier in this thread.

[Frozenlock]

Really? Could quote yourself here? 

[gogxmagog]

in 20 years btc could be as much as 2x todays price. or not.

[Frozenlock]

FWIW $80 was the low for a long-time, maybe forever. 

$115 is Fair Value for Bitcoin NOW.

sqrt (Peak $266 / Low $50)  = 2.31

sqrt (Retrace peak $166.4 / Retrace low $79) = 1.45

$266 / 2.31 = $115.2
$166 / 1.45 = $114.5
  $79 * 1.45 = $114.5
  $50 * 2.31 = $115.2

Expect Bitcoin fx rate to oscillate with a median value of $115 for some time, at least until next major news-fed feeding frenzy!

 

[jinni]

I think we can all agree that we have no idea what BTC will be worth in the future. But we're still here because we believe in it. But it just makes me angry when so-called experts on this forum write shit and sound so sure about it, it looks like they know something nobody else knows. I think alot of people can be influenced by these people and lose money. Because, to be honest, i've seen that these "experts" have been wrong MORE than 50% of the time. You could make more money flipping a coin to make decisions than to listen to these people.

If you don't like bold predictions without any basis in fact, why are you in the speculation sub-forum making yourself angry?

And to be honest, I don't understand why you are getting so angry at people at bitcointalk, haven't you ever seen "Mad Money" at CNBC?

[wobber]

I reiterate: 300-350 by August, or at least this target ill be reached by then.