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June 26, 2011, 12:51:48 AM
 #1

Post your bitcoins price predictions in USD below as I have and let's compare thoughts for fun:

By the end of:

July - $32
Aug - $70
Sep - $100
Oct - $50 (pull back)
Nov - $140
Dec - $300

 Smiley Wink Cheesy Grin Angry Sad Shocked Cool Huh Roll Eyes Tongue Embarrassed Lips sealed Undecided Kiss Cry Kiss Undecided Lips sealed Embarrassed Tongue Roll Eyes Huh Cool Shocked Sad Angry Grin Cheesy Wink Smiley Wink Cheesy Grin Angry Sad Shocked Cool Huh Roll Eyes Tongue Embarrassed Lips sealed Undecided Kiss Cry Smiley Wink Cheesy Grin Angry Sad Shocked Cool Huh Roll Eyes Tongue Embarrassed Lips sealed Undecided Kiss Cry Kiss Undecided Lips sealed Embarrassed Tongue Roll Eyes Huh Cool Shocked Sad Angry Grin Cheesy Wink Smiley Wink Cheesy Grin Angry Sad Shocked Cool Huh Roll Eyes Tongue Embarrassed Lips sealed Undecided Kiss Cry Smiley Wink Cheesy Grin Angry Sad Shocked Cool Huh Roll Eyes Tongue Embarrassed Lips sealed Undecided Kiss Cry Kiss Undecided Lips sealed Embarrassed Tongue Roll Eyes Huh Cool Shocked Sad Angry Grin Cheesy Wink Smiley Wink Cheesy Grin Angry Sad Shocked Cool Huh Roll Eyes Tongue Embarrassed Lips sealed Undecided Kiss Cry Smiley Wink Cheesy Grin Angry Sad Shocked Cool Huh Roll Eyes Tongue Embarrassed Lips sealed Undecided Kiss Cry Kiss Undecided Lips sealed Embarrassed Tongue Roll Eyes Huh Cool Shocked Sad Angry Grin Cheesy Wink Smiley Wink Cheesy Grin Angry Sad Shocked Cool Huh Roll Eyes Tongue Embarrassed Lips sealed Undecided Kiss Cry Smiley Wink Cheesy Grin Angry Sad Shocked Cool Huh Roll Eyes Tongue Embarrassed Lips sealed Undecided Kiss Cry Kiss Undecided Lips sealed Embarrassed Tongue Roll Eyes Huh Cool Shocked Sad Angry Grin Cheesy Wink Smiley Wink Cheesy Grin Angry Sad Shocked Cool Huh Roll Eyes Tongue Embarrassed Lips sealed Undecided Kiss Cry Smiley Wink Cheesy Grin Angry Sad Shocked Cool Huh Roll Eyes Tongue Embarrassed Lips sealed Undecided Kiss Cry Kiss Undecided Lips sealed Embarrassed Tongue Roll Eyes Huh Cool Shocked Sad Angry Grin Cheesy Wink Smiley Wink Cheesy Grin Angry Sad Shocked Cool Huh Roll Eyes Tongue Embarrassed Lips sealed Undecided Kiss Cry


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June 26, 2011, 01:05:38 AM
 #2

July - $20
Aug - $25
Sep - $35
Oct - $15 (hacked again)
Nov - $10 (trust lost)
Dec - $1 (more wallets stolen)
Jan - $0  all trust lost

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June 26, 2011, 01:12:26 AM
 #3

July - $35
Aug - $45
Sep - $50
Oct - $50
Nov - $45
Dec - $35
Jan - $25

I see a jump in the near future, but that will pop and fizzle down to a steady 20 to 30 per Coin.  My charting is boring, but that is because I see realistic sways in the price of btc until security is beefed up.  Unexpected events I always see as swaying the price higher, even if it seems as though there is bad news out there, most people tend to stick with the coin I've noticed, with good reason.

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June 26, 2011, 01:27:42 AM
 #4

July - $20
Aug - $25
Sep - $35
Oct - $15 (hacked again)
Nov - $10 (trust lost)
Dec - $1 (more wallets stolen)
Jan - $0  all trust lost


lol says "bitcon" lol
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June 26, 2011, 01:37:17 AM
 #5


Ultimately, the price of bitcoins is going to follow the price of other collectables (can you say Beanie Babies?) until the currency is tied to real goods. Guessing the price is just mental masturbation until you can go to a store and buy food with it.

So, is there anyone out there willing to trade hard goods for bitcoins yet?

If you found this post useful, feel free to share the wealth: 1E35gTBmJzPNJ3v72DX4wu4YtvHTWqNRbM
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June 26, 2011, 01:38:43 AM
 #6

2013: $10,000+

That or Bust. If Bitcoin cannot pick up such a pace, it's not going to survive the wrath of its enemies.
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June 26, 2011, 01:46:02 AM
 #7

I think that if the exchanges can get their heads on strait, that the bitcoin will go to about 100 a bitcoin then encounter steep resistance and probably fall.

The fact is, people are already exchanging a fair amount of goods and services for bitcoins. So really, the fundementals of what makes money "money", are now in play
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June 26, 2011, 01:47:45 AM
 #8

Upwards movement is always nice.
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June 26, 2011, 02:39:35 AM
 #9


I think the price can go up till september then with more people joining the difficulty can increase quickly and lost total interest for small mining...
With xmas the bitcoins can be dead.

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June 26, 2011, 02:50:59 AM
 #10

this is a currency.

it has no earnings.

it has no history of being a store of value.



the last thing I want from a currency is volatility.

good luck speculators....I am one myself....but not in bitcoins.
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June 26, 2011, 11:26:30 AM
 #11

July - $20
Aug - $25
Sep - $35
Oct - $15 (hacked again)
Nov - $10 (trust lost)
Dec - $1 (more wallets stolen)
Jan - $0  all trust lost


It is very possible, remeber hackers are always one step ahead and then imagine bitcoins would increase in price , how tasty target that woul be.
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June 26, 2011, 12:01:29 PM
 #12

I think the price will reach a bit more than mining costs in the near future. As long as an investment into mining rigs pays for itself in less than one year, the Network Hashrate will rise and rise.

The prices for Bitcoins will rise more, the better bitcoins are accepted. I hope Bitcoins will kill PayPal Cheesy.


july: 15$
august: 16$
september: 18$
oct: 22$
nov: 25$
dec: 27$







jan: 100$ (year 2012 problem boost bitcoins, cause everyone buys food and drinks for the end of the world with bitcoins)
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June 26, 2011, 01:15:41 PM
 #13

no one can predict.
the bitcoin is a wonderful or really horrible invention.
if the bitcoin network itself is as secure as been told it is here to stay (wont reach 0)
because there are many techeis in nowdays that will still be able to see its value.
the question is if the bitcoin network will be accessible in the future for the commons,
and the answer lays in too many variables.

but still just for the fun of it
By the end of:

July - $32
Aug - $75
Sep - $40
Oct - $50
Nov - $15
Dec - $17
2012- $1370 and boom Smiley

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June 26, 2011, 01:30:52 PM
 #14

It is really hard to predict, we do not yet have a good study on the intrinstic value of a bitcoin
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June 26, 2011, 01:33:57 PM
 #15

2013: $10,000+

That or Bust. If Bitcoin cannot pick up such a pace, it's not going to survive the wrath of its enemies.

Only you believe that lol.


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.
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June 26, 2011, 01:35:34 PM
 #16

july 18$
august 25$
september 35$
october 30$
november 32$
december 25$
january 22$
february 25$

july 2012 40-50$
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June 26, 2011, 01:37:41 PM
 #17

On serious note, I wont predict out to far but I think within next 40 days 25-30$ per btc.


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.
TokenUnion










Reinventing Savings via Cryptoeconomically
Incentivized Holding

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June 26, 2011, 01:37:55 PM
 #18

If no exploit is found within bitcoin itself, prices will increase as they get more popular.

1GPsFkReoJi8isJk1Vyry7NVnL2qpaC9Ja

Feeling generous? Send me some bits Smiley
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June 26, 2011, 04:14:45 PM
 #19

I really would like to $8-9 today, as I am sitting on some cash.
With some stability and the flow of positive news, we could easily see 50+
by August.
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June 26, 2011, 05:20:01 PM
 #20

Unless more markets open to using btc i dont see how it can keep going up. The black market can only support BTC consumption for so long.
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July 03, 2011, 09:16:20 PM
 #21

July - $19
Aug - $32
Sep - $35
Oct -  $40
Nov - $100
Dec - $100

July of 2012 - 500+ or 0.  Depends on how well it picks up in the real world of business.

14kPcPp8mybMJ9gZKYPnP6Z337kp7Kvtik
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July 06, 2011, 12:08:02 PM
 #22

It all depends on whether new markets will open up to Bitcoin....

I can't see that happening, so it's a market fueled almost entirely on speculation for the foreseeable future.
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July 06, 2011, 03:11:34 PM
 #23

It all depends on whether new markets will open up to Bitcoin....

I can't see that happening, so it's a market fueled almost entirely on speculation for the foreseeable future.

But, it seems to me there are already quite a few small markets that use Bitcoins (https://en.bitcoin.it/wiki/Trade). There's money (BTC money) to be made by starting new markets so that's a huge incentive for entrepreneurs, I reckon.

I love this shit, haven't been so excited about anything in years.

Conjures
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July 06, 2011, 03:16:38 PM
 #24

per month from now

10,14,8,18

or then again what do i know, or anyone since it all relies on market adoption !


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July 06, 2011, 03:22:08 PM
 #25

 Cool It's not going anywhere, too many people have put real money and real time into this... I've been able to find a few resturants here in my city who take bitcoin

-= Got BitCoin? =-
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July 06, 2011, 04:21:00 PM
 #26

Cool It's not going anywhere, too many people have put real money and real time into this... I've been able to find a few resturants here in my city who take bitcoin

You serious? Where's that?
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July 08, 2011, 06:42:27 AM
 #27

I'm not going to be very popular, but based on the past month here's my prediction for the next little while Wink

Period              High     Low
July 10 - 16   -  $16     $12
July 17 - 23   -  $19     $10
July 24 - 30   -  $13     $8

Long term, I dunno... 

Aug     $14
Sept    $20
Oct      $5
Nov     $0.71
Dec     -$1 (At this point, you'll have to pay people to take them. HA! j/k)

-lowlevel

Would you rather talk Altcoins? - https://cryptocointalk.com/
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July 08, 2011, 07:21:48 AM
 #28

nothing to say with all of you  Tongue
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July 08, 2011, 08:18:17 AM
 #29

2013: $10,000+

That or Bust. If Bitcoin cannot pick up such a pace, it's not going to survive the wrath of its enemies.

Agreed.  So many people are invested in killing Bitcoin in the crib.
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July 08, 2011, 01:38:25 PM
 #30

Hopefully:

The rest of July 15 - 17 $
August 18 - 20 $
September 21 - 22 $
October 21 - 22 $
Novermber 20 - 23 $
December 22 - 26 $

(the idea is that the interest in the bitcoin will be greatest during summer holidays
and Christmas. That is when the price will rise more.)

Next year july 40 - 60 $

If you do like my ideas: 1JTGkHyjftsbect7S2PCghYr7Tuyqf4rF5
If you don't: 1BHaMrxrKzVfWTxHBYFuXKezxkF1FQcg3x
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July 08, 2011, 02:01:04 PM
 #31

Average for the month IMHO:

July - $12-14
Aug - $16-18
Sep - $35-40
Oct - $90-110
Nov - $150-180
Dec - $250-300
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July 08, 2011, 02:10:43 PM
 #32

2012 - $100

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July 08, 2011, 02:14:13 PM
 #33

July ~ $15
Aug ~ $17
Sep ~ $21
Oct ~ $25
Nov ~ $28
Dec ~ bubble burst because of santa claus
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July 11, 2011, 10:03:42 AM
 #34

Aug $20
Sep $25
Oct $40
Nov $100
Dec $120
Jan $300

Looking to review Bitcoin / Crypto mining Hardware.
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July 11, 2011, 11:43:00 AM
 #35

July - $20
Aug - $25
Sep - $35
Oct - $15 (hacked again)
Nov - $10 (trust lost)
Dec - $1 (more wallets stolen)
Jan - $0  all trust lost

With personal wallets being stolen, online wallets will become popular and profitable. It's the same thing as with other network protocols: many people use web and e-mail today, but most of them do not run their own web or mail servers (if they would, there would be many more hacks, and also more people losing trust). I don't believe this issue is able to permanently damage bitcoin as a whole.

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July 11, 2011, 12:03:20 PM
 #36

I think bitcoin will rise to a substantially higher price in the next several years.  I suspect that the majority of this price will be drive by black market demand, though I see non-black market uses for bit coin as well.  I suspect it will be a slow rise in price, but I wouldn't be surprised to see $500/BTC by 2014/2015.  I don't see it being universally adopted for another 10 to 15 years but this could change if easy point of sale bitcoin acceptance starts to propagate.

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July 11, 2011, 12:03:48 PM
 #37

Around $15 or less for the next months.

Bitcoin address: 1EszY46z43qHfjvP7q9PAV3G5Q6kvcn2Mw
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July 11, 2011, 12:54:32 PM
 #38

 Smiley attempting some chart reading backed by crystal ball I get following numbers

By the end of:

July - $17.5
Aug - $20
Sep - $23.5
Oct - $19
Nov - $28-33
Dec - $35-45

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July 11, 2011, 01:07:35 PM
 #39

It will be neither as good nor as bad as we think. There will be a great deal more turmoil with the currency, but, with that said, I think bitcoin is robust enough to withstand these future situations. As for price predictions, until we break the downside trend currently in place on mtgox, the price will stay around $15 with market players still able to create large swings in the price. Once we break out of the downside trend, I would think we have some more headroom to the upside, but I cannot predict the future.  Grin
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July 11, 2011, 01:18:28 PM
 #40

Short term I can see prices down to around $14...very shallow market at the moment, and the reason I'm not buying in yet. Sold at $15 today.  Grin
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July 11, 2011, 01:53:16 PM
 #41

From a technical charting perspective, if it is currently building a base under $30, and can break out of this base on heavy volume, a reasonable target would be a 100% extension from the base - i.e. about $60 dollars. This is a pattern often seen for stocks. Obviously we are talking about a currency here and not a stock, but it has already been behaving more like a crazy momo stock than a currency, so it may continue to do so in the future. So the bullish scenario would I think put BC at $60, and it could go much higher. The bearish scenario is that it has already had the only run its going to have, and will slowly die from here. IMO, the bullish scenario is more likely, but that's just an opinion. Another few weeks should bring a little more clarity. I don't have any idea about time frames, but the longer it takes to build a base under 30, the more powerful the move can be once it finally breaks out.
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July 12, 2011, 01:30:10 AM
 #42

It doesn't appear that geekdom is losing interest... the overall hash rate is almost at 12Thash/sec and keeps increasing.
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July 12, 2011, 10:18:56 PM
 #43

I think everything depends on us. We need to develop and advertise bitcoin services. World economy size is estimated as 7*10^13 US dollars (http://en.wikipedia.org/wiki/World_economy). If all people use bitcoins instead of fiat money, then all this value will be expressed in 2*10^7 bitcoins, that is $3 500 000 per bitcoin Smiley I think it will never happen, but I would be happy if we could get 0.01% of that by 2012 ($350/btc) Smiley

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July 12, 2011, 10:37:36 PM
 #44

July - $20
Aug - $23
Sep - $27
Oct - $30
Nov - $28
Dec - $32
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July 13, 2011, 12:54:43 AM
 #45

As long as hash rate keeps increasing, the miners will demand a profit for btc. Mining stabilizes the price.
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July 13, 2011, 11:21:23 AM
 #46

I think everything depends on us. We need to develop and advertise bitcoin services.
It is especially important not only to provide bitcoin services, but also to truly calculate the costs in bitcoin for these services. As long as people pretend to provide services for bitcoin, but actually calculate in USD, EUR or whatever other currency and just transform it to bitcoin at the time of payment, exchange rates won't easily stabilize as every fluctuation changes the prices in the bitcoin economy.

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July 13, 2011, 12:29:52 PM
 #47

It's seems currently stable at $13-15 range...
But I presonaly think if few weeks we will see it rally up

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July 13, 2011, 02:56:13 PM
 #48

July - $16
Aug - $20
Sep - $22
Oct - $30
Nov - $42
Dec - $51

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July 13, 2011, 03:09:04 PM
 #49

i hope to have some miners going soon,let's all cross our fingers for $50+/btc Cheesy

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July 13, 2011, 03:21:21 PM
 #50

July $14
Aug $15
Sep $14
Oct $13
Dec $15

I would love to see it jump up, but i'm just not seeing it with the current market.

-= Got BitCoin? =-
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July 14, 2011, 02:46:34 AM
 #51

The price might become much more stable soon: When there is enough opportunity to short-sell bitcoins (as CampBX plans to allow soon), there will be a financial incentive for those who think they can wreck the bitcoin network - they can bet against the bitcoin and try to make the network collapse after that. Either they succeed and the bubble bursts, or this will prove that bitcoin is robust enough to stay. In the latter case, I assume the price will go up as people will be able to put more trust into the bitcoins.

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July 17, 2011, 03:45:49 PM
 #52

this is a currency.
it has no earnings.
it has no history of being a store of value.

This reminds me somewhat of something I read in the newspapers about 8 years ago: at the time, lots of folk were buying houses speculatively: not for the income they'd get, but for the capital expenditure. A well-known pop economist over here said something like "You don't invest for capital increase, unless you're mad or suicidal. You invest for return if you're sensible."

Currencies are not for investment, but a vehicle. Some folk are buying bitcoins in the hope of capital increase. This is a valid gamble/speculation, but is not an "investment"; no value is created, so no dividends/return is possible. An increase on capital is possible, but this is pure speculation, especially in as small a currency as btc.

Jer
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July 17, 2011, 05:14:45 PM
 #53

Depends on when the next crash is
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July 17, 2011, 05:26:06 PM
 #54

The bearish scenario is that it has already had the only run its going to have, and will slowly die from here.
I fear we are here currently Sad
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July 17, 2011, 05:33:52 PM
 #55

As long as hash rate keeps increasing, the miners will demand a profit for btc. Mining stabilizes the price.

There is lots of new mining with this cycle.  Some of them will sell out of fear if it the consolidation takes too long.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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July 17, 2011, 05:40:56 PM
 #56

$100000.50
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July 17, 2011, 05:42:09 PM
 #57

You cannot predict this correctly.
There is no way..

The only way to predict its value is to know what will happen in the feature in our society.

For instance:
Will Tradehill get hacked?
Will some rich guy invest a million dollars?
Will some early adopter sell half a million Bitcoins and get the whole market screwed up.
Will a nasty major trojan infect thousands of people and get there wallet stolen.
Will Bruce his tv ad hit mainstream?
Will Bitcoin hit CNN?
Will Greece adopt Bitcoin as there curreny?

Etcetera...


There is no way to predict this.
Its all depended of major events wich will get Bitcoin negative or positve publicity.
I do no understand why people base there predictions on past grow rate.

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July 17, 2011, 06:07:26 PM
 #58

true you cant predict with very much accuracy.

You can make some educated guesses but even these are of limited use.

It doesnt stop professional economists from doing this exact same thing every day.

Just cause I dont have a sound machine that makes lots of noises when I make a prediction, doesnt mean I cant and Kramer can.


Anyways I see the price sliding  for the next few weeks to 10 or below, interest in coins peeked a few weeks ago. Google trends is plummeting. I'm hopping to see a major poker or two site pick up the coin as the user created ones are getting busy and I do think gambling would help especially considering the conditions in the US. Long term i am still a bit bullish, I think it is still a bit confusing for the sheeple and they dont quite understand it;s uses beyond the blackmarket but over time they will come around.

mooo for rent
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July 17, 2011, 06:40:46 PM
 #59

July - $20
Aug - $23
Sep - $27
Oct - $30
Nov - $28
Dec - $32

I wish/hope
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July 17, 2011, 07:37:39 PM
 #60

July - $20
Aug - $23
Sep - $27
Oct - $30
Nov - $28
Dec - $32

I wish/hope


Can only see it going down...
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July 17, 2011, 09:16:52 PM
 #61

July - $20
Aug - $25
Sep - $35
Oct - $15 (hacked again)
Nov - $10 (trust lost)
Dec - $1 (more wallets stolen)
Jan - $0  all trust lost


I think this says it all.

"If you kill me you will not easily find another like me...a sort of gadfly, given to the state by the God."
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July 18, 2011, 05:59:00 AM
 #62

July $14
Aug $15
Sep $14
Oct $13
Dec $15

I would love to see it jump up, but i'm just not seeing it with the current market.


yup totally agree for the most part, but maybe 20-25 by 2012.  My main question becomes how much devaluation do you see coming in USD/EURO?  How about them apples?
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July 18, 2011, 06:10:45 AM
 #63

Impossible to say of course but things I'm thinking about:

How much selling is miners, and how much is bitcoin millionaires slowly cashing out?
My guess: mostly miners.

When does the payout reduce to $25 from $50?
From what I understand, late 2012.

Will the US or other government go after bitcoin, dwolla, mtgox?
(temporarily bearish, but I would consider buying opportunity)

Will there be a well publicized heinous violent crime ("perfect crime") involving bitcoin such as a kidnapping, hostage situation, or ransom like someone threatening to kill kittens on youtube unless someone sends him bitcoin?
Unlikely in my view, because bitcoin is only nymous and even with tor a determined state adversary has a good way of finding your identity. But possible -- also perhaps as a black ops / false flag operation. Bearish at any rate.

Will bitcoin get easier to use on mobile phones?
Bullish.






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July 18, 2011, 06:26:20 AM
 #64

Once the current consolidation ends with the initial breakout about  a crucial level, the rally will resume to much higher levels.
Clear breakout level signals are communicated timely in the subscription service.

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July 18, 2011, 06:28:26 AM
 #65


When does the payout reduce to $25 from $50?
From what I understand, late 2012.


did u mean to say when will the BTC per block drop from 50 BTC per block to 25 BTC per block?  In that case, yes, according to current rates, sometime in 2012.  But BTC price as of now is ~14 USD per BTC. Not 50 nor even near 25.
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July 18, 2011, 08:19:58 AM
 #66

After this price correction ends, I think we'll see it up at least to $20 again. Might be a slow climb from there, at least I hope so. Speculation almost killed Bitcoin over this summer : (
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July 21, 2011, 07:21:34 AM
 #67

Will Bitcoin hit CNN?

This was rerun today in the US:  http://tech.fortune.cnn.com/tag/bitcoin/

martingale gambler bot: http://goo.gl/b4XsJ
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July 21, 2011, 01:45:12 PM
 #68

July - $13
Aug - $15
Sep - $12
Oct - $10
Nov - $11
Dec - $14

I don't think the bitcoin/$ rate will increase this year. We will see some increases due to new users and we will see decreases due to regulation tries from the local goverments.
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October 01, 2011, 02:37:25 PM
 #69

You can now guess the future with this app: http://www.spaculator.com/

The benefit is a graph of speculated future values by all players.

Spaculator.com (http://www.spaculator.com/) - Guess The Future Value of Bitcoin
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October 02, 2011, 12:23:49 AM
 #70

Price between 4 and 5 dolars per BTC wil stay for some time (let's say few weeks), then it will go down and at the end of this yera it will be around 3 dolars per BTC
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October 02, 2011, 03:40:01 AM
 #71

Price between 4 and 5 dolars per BTC wil stay for some time (let's say few weeks), then it will go down and at the end of this yera it will be around 3 dolars per BTC
So true. But then again, I wish that would never happen. Sad
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October 02, 2011, 08:04:22 AM
 #72

Price between 4 and 5 dolars per BTC wil stay for some time (let's say few weeks), then it will go down and at the end of this yera it will be around 3 dolars per BTC

What are you basing your forecast on?

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October 02, 2011, 09:36:14 AM
 #73

I think there is nothing to keep it going up, very little demand, mostly speculation, and somewhere around 3 USD should be just slightly above the cost of electricity and the depreciation of hardware even for those with cheap electricity.
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October 02, 2011, 07:10:13 PM
 #74

I can think of two things applying upward pressure on the price:
1. Speculation. This has probably been decreasing and will continue to decrease as the price stays stagnant. But there are still a lot of people holding out for that glorious (fantasy) day in which they get to bask in great wealth when the price goes up to a gazillion. Over time they will bleed off.
2. Commerce. There's a real economy to bitcoin. In order to do business with the coin, you have to hold some amount of it. This is the one that's supposed to grow to make #1 rich. However, this is also the one that will not grow because of #1 -- how many merchants want to price their stuff in bitcoins only to have the value double or halve overnight and all their goods are mispriced? Not going to happen until #1 mentality goes away. I don't think #1 mentality is going to go away so long as the design of bitcoin is to have a fixed number of coins.

Downward pressure:
1. miners. I'm guessing this is pretty much constant, but I don't know for sure.
2. Speculators throwing up their hands. You would expect this to happen slowly over time, as people gradually get tired of waiting for that glorious day. I think this explains the gradual decrease.

My prediction is flat to slightly negative for a while, unless either (1) bitcoin devs decide to remove the 18 million coin cap (not likely), in which case bitcoin would take off but it's hard to say what would happen to the price, or (2) a competing currency pops up that solves the speculation problem, in which case a dramatic flight from bitcoin is possible.

All this to say.. be very careful if you're going long bitcoin in order to make a profit..
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October 02, 2011, 08:10:39 PM
 #75

I see the current prices sticking around for a while. I don't think we've bottomed out just yet but almost.

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October 03, 2011, 02:52:31 AM
 #76

Thanks for bumping the thread guys. Now I can laugh at OP.

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October 03, 2011, 05:19:37 AM
 #77

As a newbie to Bitcoins the thing I find most frustrating is finding out where to buy. Yes I know there are exchanges Mt Gox, Tradehill ... However I went to buy from Mt Gox (buying from Australia) only to find out their Australian bank account was closed pending fraud allegations. I went over to Tradehill to purchase only to find a few paragraphs on how Australian authorities want full verification (100 point ID) to withdraw funds.

Does anyone know where I can reliably purchase Bitcoins without going through red-tape, or paying exorbitant bank fees?

I'm willing to purchase via PayPal, MoneyBookers, Western Union, Australian bank transfer, or Cash.

Without new buyers for Bitcoins prices are doomed.

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October 03, 2011, 06:54:46 AM
 #78

Man with your predictions I really wish I had got in when it was like $5 for 10,000 bitcoins lol
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October 03, 2011, 02:50:40 PM
 #79

As a newbie to Bitcoins the thing I find most frustrating is finding out where to buy. Yes I know there are exchanges Mt Gox, Tradehill ... However I went to buy from Mt Gox (buying from Australia) only to find out their Australian bank account was closed pending fraud allegations. I went over to Tradehill to purchase only to find a few paragraphs on how Australian authorities want full verification (100 point ID) to withdraw funds.

Does anyone know where I can reliably purchase Bitcoins without going through red-tape, or paying exorbitant bank fees?

I'm willing to purchase via PayPal, MoneyBookers, Western Union, Australian bank transfer, or Cash.

Without new buyers for Bitcoins prices are doomed.

I couldn't agree with this more. I feel like getting my initial money into bitcoins is super obnoxious. Im not sure how comfortable i feel with scanning in my passport or drivers license to some of these places to get "verified."

Let me know when you find such luck, since im going through the same thing.

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October 03, 2011, 02:58:13 PM
 #80

Wanna buy bitcoins ? Come to miners like me directly.
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October 04, 2011, 10:09:16 PM
 #81

As a newbie to Bitcoins the thing I find most frustrating is finding out where to buy. Yes I know there are exchanges Mt Gox, Tradehill ... However I went to buy from Mt Gox (buying from Australia) only to find out their Australian bank account was closed pending fraud allegations. I went over to Tradehill to purchase only to find a few paragraphs on how Australian authorities want full verification (100 point ID) to withdraw funds.

Does anyone know where I can reliably purchase Bitcoins without going through red-tape, or paying exorbitant bank fees?

I'm willing to purchase via PayPal, MoneyBookers, Western Union, Australian bank transfer, or Cash.

Without new buyers for Bitcoins prices are doomed.
How much would you be willing to send in cash?

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October 07, 2011, 06:15:46 PM
 #82

I'm not going to be very popular, but based on the past month here's my prediction for the next little while Wink

Period              High     Low
July 10 - 16   -  $16     $12
July 17 - 23   -  $19     $10
July 24 - 30   -  $13     $8

Long term, I dunno... 

Aug     $14
Sept    $20
Oct      $5
Nov     $0.71
Dec     -$1 (At this point, you'll have to pay people to take them. HA! j/k)

-lowlevel

Here comes November!!

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October 07, 2011, 06:38:42 PM
 #83

IMO, we need to see inflation really start to move in most currencies before people stop hoarding fiat (notably dollars) and start looking for places to move money.  That's when BTC can move up.

One more round of deleveraging to find the ultimate bottom in BTC, which I suspect will spike just below $4 USD.  Then I anticipate some base building for several months and a sustained rise, assuming the EU, Japan, and the US have started dropping fiat from helicopters.

One cannot disengage from the real world with BTC.  It's all about capital flows.
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October 07, 2011, 06:39:47 PM
 #84

Here's a good question for bitcoin price:  what happens next year at block 210000?
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October 07, 2011, 06:45:30 PM
 #85

Here's a good question for bitcoin price:  what happens next year at block 210000?

Why would that matter?
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October 07, 2011, 07:05:53 PM
 #86

Here's a good question for bitcoin price:  what happens next year at block 210000?

Why would that matter?

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

Particularly,

Quote
First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 50 bitcoins; this value will halve every 210,000 blocks.)

Which is the reason there will never be more than 21 million bitcoins, it's a mathematical series that infinitely approaches 21 million.  If you halve the amount produced after every 210,000 blocks, you know after the first 210,000 you will have half of everything that will ever be available, which is (210000*50) = 10.5 million btc.  Not sure exactly how it is programmed, but this either means at some point new blocks will produce the smallest decimal allowed by the language it is written in, or they will produce zero new bitcoins, and profits from mining will come 100% from transaction fees.  By that point, well beyond any of our life expectancies, bitcoin will most likely be long dead, though.  Or insanely popular, in which case my grandkids will be -rich-.  Wink
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October 07, 2011, 07:15:34 PM
 #87

Here's a good question for bitcoin price:  what happens next year at block 210000?

Why would that matter?

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

Particularly,

Quote
First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 50 bitcoins; this value will halve every 210,000 blocks.)

Which is the reason there will never be more than 21 million bitcoins, it's a mathematical series that infinitely approaches 21 million.  If you halve the amount produced after every 210,000 blocks, you know after the first 210,000 you will have half of everything that will ever be available, which is (210000*50) = 10.5 million btc.  Not sure exactly how it is programmed, but this either means at some point new blocks will produce the smallest decimal allowed by the language it is written in, or they will produce zero new bitcoins, and profits from mining will come 100% from transaction fees.  By that point, well beyond any of our life expectancies, bitcoin will most likely be long dead, though.  Or insanely popular, in which case my grandkids will be -rich-.  Wink

Aahh.  I gotcha.  I didn't realize the payout halved at 210000 - I get the rest of the situation.

However, IMO, it's irrelevant.  The intrinsic value of any currency is based on what it can purchase - nothing more, nothing less.  Assuming that the community of products and services grows and the general acceptability improves (which, IMO, is a function of usability to the Average Joe/Jane  and general stability relative to the USD more than anything else), then the incentive to mine any number of coins should be there as long as the cost in fiat doesn't exceed the relative purchasing power of one BTC.  In other words, I'd expect this to be more of an economic question rather than a technical one.

BTC will never die if the transaction fees generated still create a real-world profit.  Someone will take the profit.  If it' s not profitable, well than that's a different story.

Based on the Austrian theory of money, any "reasonable" amount of currency in circulation is enough to fullfill the role of money.  As long there's enough such that everyone can get some, it will suffice perfectly well and increase in purchasing power.

At least we'll test this theory, I suppose....
saethan
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October 07, 2011, 07:34:04 PM
 #88

Since, at the moment, bitcoins go out to 8 decimal places, there will be 2,100,000,000,000,000 total units available for trade ~130 years from now.  Wink

One issue, though, is - early adopters will have a much larger proportion of total btc than late adopters.

I have a not insignificant proportion of all btc that will ever exist.  I'll hang on to it for now.  It costs me about $10 a month to mine coins(increase in wattage from running gpu at 100%, the computer itself is on 24/7 anyways since it runs a couple servers)...  I pay more than that to play a video game.  Tongue  I'll bet those few bucks a month on the off-chance bitcoins become stable at a high price.
NeonFlash
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October 08, 2011, 02:58:06 PM
 #89

It's below 4 USD already. Keeps going down almost everyday Sad
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October 08, 2011, 03:01:20 PM
 #90

July - $35
Aug - $45
Sep - $50
Oct - $50
Nov - $45
Dec - $35
Jan - $25

I see a jump in the near future, but that will pop and fizzle down to a steady 20 to 30 per Coin.  My charting is boring, but that is because I see realistic sways in the price of btc until security is beefed up.  Unexpected events I always see as swaying the price higher, even if it seems as though there is bad news out there, most people tend to stick with the coin I've noticed, with good reason.

What a moran.

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October 09, 2011, 04:46:13 AM
 #91

October - $4
November - $5
December - $6
January - $12
February - $25
March - $40
April - $10
May -$3
June - $0

It'll boom then crash
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October 09, 2011, 06:27:38 AM
 #92

5$ or 3€ or 2.20£ is base
bcforum
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October 09, 2011, 02:05:55 PM
 #93

Here's a good question for bitcoin price:  what happens next year at block 210000?

The price will go up.

Right now there are a bunch of professional miners who are attempting to make a living from mining bitcoins. Every month (when their bills come due) they sell a bunch of coins and drive the price down. When the difficulty vs. payout doubles, their income will halve and many will shutdown because they can't cover their costs anymore. You'll also see a flood of used mining rigs and GPUs hit ebay at that time.
The difficulty will gradually trickle down until only the most profitable miners and the enthusiasts are still mining.

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October 09, 2011, 02:19:42 PM
 #94

The difficulty will gradually trickle down until only the most profitable miners and the enthusiasts are still mining.
Basically just Mt Gox, who I assume will just end up buying out pools, Vlad, and Google mining with Solar Power.

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October 09, 2011, 03:05:22 PM
 #95

unless they can somehow remove the 21mil limitation it will be kept to a select few...... now if their was 100mil in circulation things would be up on price.
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October 09, 2011, 03:47:57 PM
 #96

I'm not going to be very popular, but based on the past month here's my prediction for the next little while Wink

Period              High     Low
July 10 - 16   -  $16     $12
July 17 - 23   -  $19     $10
July 24 - 30   -  $13     $8

Long term, I dunno... 

Aug     $14
Sept    $20
Oct      $5
Nov     $0.71
Dec     -$1 (At this point, you'll have to pay people to take them. HA! j/k)

-lowlevel

Here comes November!!
  Wow, that was an impressively precise and accurate prediction.  How did you infer that?
payb.tc
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October 09, 2011, 03:49:09 PM
 #97

unless they can somehow remove the 21mil limitation it will be kept to a select few...... now if their was 100mil in circulation things would be up on price.

you think more coins in circulation = higher prices?

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October 09, 2011, 07:06:53 PM
 #98

unless they can somehow remove the 21mil limitation it will be kept to a select few...... now if their was 100mil in circulation things would be up on price.

They can easily multiple the number of coins by shifting the decimal place in the bitcoin client. 1 coin magically becomes 2!

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October 10, 2011, 10:21:12 PM
 #99

Since, at the moment, bitcoins go out to 8 decimal places, there will be 2,100,000,000,000,000 total units available for trade ~130 years from now.

The 'analysts' saying there needs to be more than 21mil coins are very confused.

You should think of it as 21,000,000.00000000, or like saethan said, 21,000,000 x 10^8 individual units.

There's no problem with bitcoin always being significantly higher than USD and other government currencies. We don't need a 9.99 USD = 9.99 BTC merchandise theme. The old ways of selling things are afraid of counting more than 100 cents per dollar.

Computers, science, and even gasoline require more accuracy than two decimal places. Anything you do in a lab is *worthless* without at least 4 or 5 decimal places of accuracy.

Why shouldn't money be the same? We won't be counting out coins by hand in the future. There's no excuse for rounding.
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October 10, 2011, 10:26:11 PM
 #100

unless they can somehow remove the 21mil limitation it will be kept to a select few...... now if their was 100mil in circulation things would be up on price.

you think more coins in circulation = higher prices?



LOL bet you he failed his economics module Smiley

Google scarcity mate.
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October 10, 2011, 10:28:24 PM
 #101

Seems to me the only reason to have bitcoin at the moment is to buy something very quickly.


bitcoin, 2nd most popular currency used by criminals.
bitcoin, 2nd most popular currency used by criminals.
bitcoin, 2nd most popular currency used by criminals.
bitcoin, 2nd most popular currency used by criminals.
bitcoin, 2nd most popular currency used by criminals.
The probability that you too are a criminal, is very high.
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