Primecoin to reach 0.05 by the end of the month.

[Luckybit]

I predict that before August 1st Primecoin will reach 0.05.

Now is the time to buy in because this coin has the PPC difficulty algorithm. The more it is mined the more scarce it will become and the more it will be worth to whomever is holding it. The time to buy is now, before the GPU miners and ASIC miners figure out how to mine this coin and difficulty skyrockets through the roof.

Once that happens 0.05 will be considered cheap and we may be looking at 0.1-0.2.
The time to buy is now.

[MidnightTokr]

Uh huh....

[Luckybit]

Uh huh....

Watch and see. You'll be lucky to get 1-2 XPM per reward.

[bbxx]

time to sell

[Luckybit]

time to sell

If you sell now you'll be sorry. People who hold for later will get much more considering no one will be able to mine XPM so easily as to get a lot of it.

[kelsey]

then again people stop mining they'll lose interest, u cant do anything with then, people only buy to sell to the next smuck

[#Darren]

then again people stop mining they'll lose interest, u cant do anything with then, people only buy to sell to the next smuck

Mining interest slowed down big time with bitcoin due to difficulty but that still increased in value..

[PoolMinor]

Uh huh....

Watch and see. You'll be lucky to get 1-2 XPM per reward.

Hmmm, for a reward of 1-2 XPM difficulty needs to be above 500.

At least 2 more days before we hit 9.

[markm]

I still haven't see a link to the prediction-market page where this prediction is actually being made in earnest, so far it seems like just "empty" noise...

At times like this it would be really nice to have a generic futures/options system where one can specify any pair and very easily add new pairs when a new coin worth making predictions about or worth hedging about happens along... But I guess generic prediction markets are the closest available to that so far.

-MarkM-

[lamiomni]

Basicly, having GPU miner coming is not synonym of price rising (even if diff. gonna skyrocket) since price is related to miner hardware price thrown into mining.

Look at the bitcoin price, it has decrease a lot since ASICS are now "widely" shipped, diff. is skyrocketing but not the price, why? Because a Ghps is cheaper.

Looking back into XPM: CPU mining is expensive in term of energy, GPU mining will make the kps (k primes per sec) way cheaper. That it. You can think that price will recover then, but be careful.

Cheers.

[markm]

Look at the bitcoin price, it has decrease a lot since ASICS are now "widely" shipped, diff. is skyrocketing but not the price, why? Because a Ghps is cheaper.
Cheers.

I figured the suppressed price was due to ASIC makers dumping lots of coins to pay for millions of dollars of up front stuff necessary to start churning out ASICs.

-MarkM-

[smoothie]

I'm honestly curious why people were selling in the 0.002 to 0.005 btc range just a few days ago.

Primecoin is interesting. I would like to see it stand the test of time (6-12 months) with no exploits found and no fatal bugs either.

[xibeijan]

I think primecoin will definitely see 0.05 BTC by august.  It is the most innovative altcoin out there and will be valued above LTC and NVC.

If you want to diversify your crypto currency holdings, then primecoin is the best way to do that.

[lamiomni]

Look at the bitcoin price, it has decrease a lot since ASICS are now "widely" shipped, diff. is skyrocketing but not the price, why? Because a Ghps is cheaper.
Cheers.

I figured the suppressed price was due to ASIC makers dumping lots of coins to pay for millions of dollars of up front stuff necessary to start churning out ASICs.

-MarkM-

Interesting observation! They are taking liquidity from the market, btw that's shows us that a "big players" taking out his money (even to invest) can almost divide BTC price by 2.

[markm]

Well price might also be suppressed by awareness that mining is so lucrative there might not be much incentive to give out your ASICs to the public once you have gotten your initial money from the public by selling them your primitive first stab at it at massive markups...

In other words, there could easily be concerns that the only way to really get into mining might well soon be to design and manufacture ASICs yourself...

The public is rightly concerned that really they don't get to mine as in for an actual profit or even to eke out a minimal, borderline living, they just get to give ASIC developers, in advance, all the coins the ASICs will ever mine, thus saving the ASIC manufacturers the hassle of running mining farms but still giving them all the bitcoins the farms are ever going to mine plus maybe more too...

-MarkM-

[Luckybit]

Uh huh....

Watch and see. You'll be lucky to get 1-2 XPM per reward.

Hmmm, for a reward of 1-2 XPM difficulty needs to be above 500.

At least 2 more days before we hit 9.

And that could easily happen once GPU's get involved and then ASICs.  As soon as GPU mining begins, expect it.

[Carra23]

I am placing my sell orders at 0.04999999 then

There is no clear correlation between diff+block reward and price. I am very interested to know whats the reason for the price increase. Whether its due to people genuinely interested in XPM or people just jumping on the train to earn a quick buck. How XPM price behaves if BTC crashes would be also interesting to see.

[Luckybit]

I am placing my sell orders at 0.04999999 then

There is no clear correlation between diff+block reward and price. I am very interested to know whats the reason for the price increase. Whether its due to people genuinely interested in XPM or people just jumping on the train to earn a quick buck. How XPM price behaves if BTC crashes would be also interesting to sell.

It all depends on demand. I made this same prediction with PPC and it happened as scheduled. I also predicted BTC 0.01 for XPM and it happened on schedule. So now I'm predicting 0.05 by August provided the demand is there the price is guaranteed by scarcity of supply.

[Carra23]

I am placing my sell orders at 0.04999999 then

There is no clear correlation between diff+block reward and price. I am very interested to know whats the reason for the price increase. Whether its due to people genuinely interested in XPM or people just jumping on the train to earn a quick buck. How XPM price behaves if BTC crashes would be also interesting to see.

It all depends on demand. I made this same prediction with PPC and it happened as scheduled. I also predicted BTC 0.01 for XPM and it happened on schedule. So now I'm predicting 0.05 by August provided the demand is there the price is guaranteed by scarcity of supply.

We will see. I would like a few dips to get a few more.

[twobits]

Looking back into XPM: CPU mining is expensive in term of energy, GPU mining will make the kps (k primes per sec) way cheaper. That it. You can think that price will recover then, but be careful.

With this coin that is not it though.  The reward per block is cut the higher the difficultly.  So cheaper hashes, means higher difficulty and less coins produced.