Impaler
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June 09, 2013, 08:15:22 PM |
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I predict a bottoming out of the latest downtrend at around 50-80 followed by a return to at or near 100. That will be followed by a slow grind down to 10-30 dollars and then a rebound to 30-50 that will be maintained for months or years (assuming BTC is not being supplanted by a superior coin, if that happens I see single dollar values).
Remember long term sustainable prices are dictated by the amount of dollars willing to CONTINUOUSLY flow into purchase of new coins, 30 dollars represents the original bubble price adjusted for the new 25 coin block rewards. 120 dollars would have required a half million dollars a day to sustain which is far more then could be asked of the current user base.
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"You Asked For Change, We Gave You Coins" -- casascius
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oblongmeteor
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June 09, 2013, 08:35:11 PM |
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I assume you mean half a million dollars of "new" money, rather than turnover. E.g. I mean people trading their coins with others for fiat - but where the total price of those trades is greater by 500 K than the preceding day. I presume this means any current hike (like the one from 12:15 to 21:30 UTC on 9th June) that has rallied to 100 USD, is likely unsustainable?
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adamstgBit
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June 09, 2013, 08:40:00 PM |
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$30 - possible but unlikely.
$60-70 ... more likely
I think that $60 - $70 is dangerous, because at that point people might just give up and lose faith, then the value will fully collapse back to single digits. I can't wait. yes that would be pretty sweet. but i'm not counting on it, the way things are going the bear market won't last long, and we will soon start heading toward bubble #3 in a calm and orderly manner of course  |
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Welsh
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June 09, 2013, 08:42:21 PM |
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I predict you are all wrong.
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vokain
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June 09, 2013, 08:42:58 PM |
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Obviously people are going to love for Bitcoins to come down, but that's only early adopters. These 'early adopters' are normally looking for a quick rich scheme and are not interested in supporting Bitcoin whatsoever. It's sad actually, I for one want to see Bitcoin strive and succeed. Imagine how awesome it would be going to amazon and checking out with Bitcoin. Yeah, that might not happen but what if it did?
If it weren't for the kind of people with the vision to push the price so high in the first place, would we have gotten the attention and interest as quickly as we did? How many projects would've been started that much later? High price increases the incentive for development, even if its initially driven by us speculators. Never forget, I figure many a speculator is simply saving for the big one to invest in. Myself, I plan on joining and supporting one of those new Venus Project or Free State Project like societies |
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AliceWonder
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June 09, 2013, 08:49:42 PM |
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i will be happy when people stop seing bitcoin as a investment and see it as a curentcy
This |
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vokain
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June 09, 2013, 08:54:20 PM |
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i will be happy when people stop seing bitcoin as a investment and see it as a curentcy
This Why, since this currency is appreciating? It's clearly both at this point in time |
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freedomno1
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June 09, 2013, 08:55:56 PM |
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i will be happy when people stop seing bitcoin as a investment and see it as a curentcy
This Actually to be technical the framework for some 2.0 development designs might be able to separate them but for now they are always interrelated |
Believing in Bitcoins and it's ability to change the world
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crumbs
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June 09, 2013, 09:00:54 PM |
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i will be happy when people stop seing bitcoin as a investment and see it as a curentcy
This Actually to be technical the framework for some 2.0 development designs might be able to separate them but for now they are always interrelated How does that work? |
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Welsh
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June 09, 2013, 09:10:23 PM |
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Obviously people are going to love for Bitcoins to come down, but that's only early adopters. These 'early adopters' are normally looking for a quick rich scheme and are not interested in supporting Bitcoin whatsoever. It's sad actually, I for one want to see Bitcoin strive and succeed. Imagine how awesome it would be going to amazon and checking out with Bitcoin. Yeah, that might not happen but what if it did?
Then we have defeated Amazon Coins But I understand the sentiment Yeah, I was just giving a example, maybe I should of thought of another online merchant, lol. |
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freedomno1
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June 09, 2013, 09:14:45 PM |
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Obviously people are going to love for Bitcoins to come down, but that's only early adopters. These 'early adopters' are normally looking for a quick rich scheme and are not interested in supporting Bitcoin whatsoever. It's sad actually, I for one want to see Bitcoin strive and succeed. Imagine how awesome it would be going to amazon and checking out with Bitcoin. Yeah, that might not happen but what if it did?
Then we have defeated Amazon Coins But I understand the sentiment Yeah, I was just giving a example, maybe I should of thought of another online merchant, lol. I do hope that they don't try to mimic bitcoin and make their own little ecosystems for their currencies in the long run lol Or Corporate Coin - A Conglomeration of multiple entities into a unified corporate system lol |
Believing in Bitcoins and it's ability to change the world
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crumbs
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June 09, 2013, 09:19:49 PM |
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I do hope that they don't try to mimic bitcoin and make their own little ecosystems for their currencies in the long run lol
[...]
The tragic thing about Bitcoin is *anyone* could copy it -- it's open source. And if that someone had $$$, clout & a decent PR dept... |
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zackclark70
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June 09, 2013, 09:19:59 PM |
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crumbs
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June 09, 2013, 09:21:59 PM |
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I said $$$, Clout & a decent PR dept |
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zackclark70
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June 09, 2013, 09:29:25 PM |
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who said i dont have the $ ?
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crumbs
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June 09, 2013, 09:33:40 PM |
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who said i dont have the $ ?
I'm sure you have more than I. I was thinking more along the lines of Amazon & Google.  |
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papaminer
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June 09, 2013, 09:35:43 PM |
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฿: 1L7dSte4Rs4KyyxRCgrqSWYtkXdAb4Gy1z MORE INFO ABOUT ME: BTC |
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freedomno1
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June 09, 2013, 09:36:55 PM |
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Its an interesting design the question is how much bloat it would add to the blockchain once the ultimate blockchain compression is developed it might be doable. (In regards to the loading of the blockchain for new clients any additions to it are not preferred as it takes users days to load it already) Bitcoin is however a changing and developing technology that builds upon itself and it is interesting. Satoshidice spams the blockchain and this idea would be another level on top adding to the bloat. Protocol layer built on top of bitcoin, using messages in the block chain to represent transfers of value is one way of approaching it and the ability to send a text message with a transaction seem correlated so this would probably be one approach that might be merge-able Colored coins are used for transfers of value, messages would be another design https://bitcointalk.org/index.php?topic=226215That said I would also say their are a few ways to implement it without needing the blockchain as mentioned in the links above depending on your preference And that it might be possible to add to any of them so it is interesting |
Believing in Bitcoins and it's ability to change the world
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zackclark70
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June 09, 2013, 09:40:01 PM |
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Its an interesting design the question is how much bloat it would add to the blockchain once the ultimate blockchain compression is developed it might be doable. (In regards to the loading of the blockchain for new clients any additions to it are not preferred as it takes users days to load it already) Bitcoin is however a changing and developing technology that builds upon itself and it is interesting. Satoshidice spams the blockchain and this idea would be another level on top adding to the bloat. Protocol layer built on top of bitcoin, using messages in the block chain to represent transfers of value is one way of approaching it and the ability to send a text message with a transaction seem correlated so this would probably be one approach that might be merge-able Colored coins are used for transfers of value, messages would be another design https://bitcointalk.org/index.php?topic=226215I would say their are a few ways to implement it without needing the blockchain as mentioned in the links above depending on your preference And that it might be possible to add to any of them so it is interesting my plan with credits is to have the mesage feture biult into an a alternative walet so its optinal if you could help in any way with credits i would be verry happy  |
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