I believe the price has nowhere to go but down and here's why I think so.

[cheesylard]

You see all these people saying how every year since its inception we have seen a 10 fold increase in Bitcoins price compared to USD.

The event during March of this year has pushed it into the media's spotlight, and now everybody and their grandmother knows about it. It's mainstream now. So why would it go up again? What other demographic could find out about bitcoin to create another spike?

Unless if western democracy collapses as we know it, the price of Bitcoin will steadily continue to go down, similarly to how Litcoins price spikes up and steadily goes down after every Mt. Gox rumor. It's happened before and it will happen again.

The other thing that could get bitcoin's price to go up is an actual, real, update to Bitcoin's software, like the scalability issues or shorter confirmations (none of this Litecoin bullshit where it's 4x as fast for a confirmation but 4x less secure). But we haven't seen a real update since its conception, and due to the nature of Bitcoin (decentralized) it's becoming harder and harder to update its software.

I honestly believe someone else is going to come up with a better crypto than BTC, the current infrastructure won't last.

I hope I'm wrong, though.

[01BTC10]

99.9% of my entourage and random street people don't know what is Bitcoin. We are far from mainstream.

[cheesylard]

99.9% of my entourage and random street people don't know what is Bitcoin. We are far from mainstream.

Have you literally walked down the street and asked random people if they knew what Bitcoin was and kept a tally?

[01BTC10]

99.9% of my entourage and random street people don't know what is Bitcoin. We are far from mainstream.

Have you literally walked down the street and asked random people if they knew what Bitcoin was and kept a tally?

I meet random people almost everyday and most of them have no idea what Bitcoin is.

[DeathAndTaxes]

99.9% of my entourage and random street people don't know what is Bitcoin. We are far from mainstream.

Have you literally walked down the street and asked random people if they knew what Bitcoin was and kept a tally?

I wear have had a t-shirt with the Bitcoin BTC on it (actually says "BTC or GTFO") .  I have been asked at least a couple dozen times "what is that?" and only had one person recognize it.  At least 50:1 if not more.  Not scientific but if you think Bitcoin is mainstream well you obviously have already made up your mind so facts don't really matter.  Bitcoin may be many thing and it may go down or it may even crash and burn but the idea that it is already mainstream is just silly.

[cheesylard]

I meet random people almost everyday and most of them have no idea what Bitcoin is.

Hm. Okay. It might have to do with the fact I live in the Silicon Valley, then. Almost everyone here knows what Bitcoin is

[CMMPro]

Everyone I know literally thinks I'm speaking a foreign language when I talk about bitcoin...I would say we are still the very early adopters.
I can't imagine what future lies in store for us if it ever goes "mainstream".  

[DeathAndTaxes]

I meet random people almost everyday and most of them have no idea what Bitcoin is.

Hm. Okay. It might have to do with the fact I live in the Silicon Valley, then. Almost everyone here knows what Bitcoin is

Almost everyone?  Bus driver, taxi cab driver, the waiter at Olive Garden, UPS guy, etc?  Or is "everyone" techno-nerds?

[01BTC10]

I meet random people almost everyday and most of them have no idea what Bitcoin is.

Hm. Okay. It might have to do with the fact I live in the Silicon Valley, then. I'm dumb.

Bitcoin got more attention from US media than Canadian one. Yesterday I spoke with 3 IT professional and none knew about Bitcoin.   

[cheesylard]

Almost everyone?  Bus driver, taxi cab driver, the waiter at Olive Garden, UPS guy, etc?  Or is "everyone" techno-nerds?

To be honest I asked younger people, mostly. Not necessarily techno nerds. It was at about 25%.

[ElectricMucus]

We're out of suckers.

[superduh]

Lol, did you think before you wrote all that

[XXthetimeisnowXX]

99.9% of my entourage and random street people don't know what is Bitcoin. We are far from mainstream.

Have you literally walked down the street and asked random people if they knew what Bitcoin was and kept a tally?

I wear have had a t-shirt with the Bitcoin BTC on it (actually says "BTC or GTFO") .  I have been asked at least a couple dozen times "what is that?" and only had one person recognize it.  At least 50:1 if not more.  Not scientific but if you think Bitcoin is mainstream well you obviously have already made up your mind so facts don't really matter.  Bitcoin may be many thing and it may go down or it may even crash and burn but the idea that it is already mainstream is just silly.

+1 haha me and my friend was having this discussion the other day...if BTC was mainstream or not. i said ok at the next big gathering we will ask. so me and him are at this party... i hate talking in front of large groups but i was drinking liquid courage so it was ok...I said "Ladies and gentlemen, can I please have your attention? I've just been handed an urgent and horrifying news story. I need all of you to stop what you're doing and listen. cannonba".... no wait i said "hi by a show of hands can i see who has herd of bitcoins?" or "BTC? for short?" or "altcoins" or "cybermoney" anybody? only my girl and his girl and him raised there hands....everyone else about 45 people were like what? what are you talking about? I said its money. they are like huh like what country? I told them no country but every country. its the currency of the future.

these people were not old farts they were not young tweens me and my friends are 25-33 the prime age for bitcoins. some own homes some are married. some own businesses and are quite successful. when i told them about it they were very impressed with how it was worth more than the dollar. one guy said ya when its more then the value of the USD then ill listen i told him it was worth about a hundred usd. hahaha. and once it was worth 2.50 when i bout them. and how i was buying them at 230. (yes i got lucky and not so lucky)

if your point is that they are on the downtrend do to saturation in the market your are a fool! if everyone in America purchased one bitcoin we would all be rich rich rich. that is why i think the Chinese government did not hush up that news report about bitcoins. if there people bout in low (now) and in a year or five when they do take off they will have gained some very rich people in there country due to others making them rich. ie the Americans because we did not buy in when they were so much lower. but that is another story.  

[cheesylard]

Lol, did you think before you wrote all that

I didn't even think while I was writing it, either.

[MoreFun]

99.9% of my entourage and random street people don't know what is Bitcoin. We are far from mainstream.

Have you literally walked down the street and asked random people if they knew what Bitcoin was and kept a tally?

I wear have had a t-shirt with the Bitcoin BTC on it (actually says "BTC or GTFO") .  I have been asked at least a couple dozen times "what is that?" and only had one person recognize it.  At least 50:1 if not more.  Not scientific but if you think Bitcoin is mainstream well you obviously have already made up your mind so facts don't really matter.  Bitcoin may be many thing and it may go down or it may even crash and burn but the idea that it is already mainstream is just silly.

if everyone in America purchased one bitcoin we would all be rich rich rich.

Can't and won't happen   300M > 21M

[codesuela]

i hope people finally give up their false hopes and the final capitulation happens so that we can move on. i can't take the permabulls anymore.

[solex]

i hope people finally give up their false hopes and the final capitulation happens so that we can move on. i can't take the permabulls anymore.

Translation: "I discovered Bitcoin when it was at $266 and desperately want it back down at $2.66 so I can fill my boots with them, and then miraculously it must go back to $266 without further delay."

[BitChick]

99.9% of my entourage and random street people don't know what is Bitcoin. We are far from mainstream.

Have you literally walked down the street and asked random people if they knew what Bitcoin was and kept a tally?

I wear have had a t-shirt with the Bitcoin BTC on it (actually says "BTC or GTFO") .  I have been asked at least a couple dozen times "what is that?" and only had one person recognize it.  At least 50:1 if not more.  Not scientific but if you think Bitcoin is mainstream well you obviously have already made up your mind so facts don't really matter.  Bitcoin may be many thing and it may go down or it may even crash and burn but the idea that it is already mainstream is just silly.

if everyone in America purchased one bitcoin we would all be rich rich rich.

Can't and won't happen   300M > 21M

YES.  This is true. Everyone in America Can't have one BTC, hence why the price has nowhere to go but UP.    (of course there may be bumps in the road on the journey upwards.)

[BitChick]

I meet random people almost everyday and most of them have no idea what Bitcoin is.

Hm. Okay. It might have to do with the fact I live in the Silicon Valley, then. Almost everyone here knows what Bitcoin is

Silicon Valley is probably a little more technical than some places.

Here is Southern California, which is pretty high-tech compared to many places in the world I would think, there is NO press in the papers, and NO ONE talks about it at all.  Thankfully my husband is an avid reader of Slashdot or we would still be in the dark about it.  None of my friends or family had ever heard of Bitcoin until I told them about it and none of them are that interested in buying any yet. They think it is "too risky."  Oh well.  If it does take off I will just have to hold my tongue.  Perhaps it would be wrong to say, "Well I told you to buy when it was $99."  That might be painful if and when the price goes up to $1000 or more!

[CMMPro]

i hope people finally give up their false hopes and the final capitulation happens so that we can move on. i can't take the permabulls anymore.

Translation: "I discovered Bitcoin when it was at $266 and desperately want it back down at $2.66 so I can fill my boots with them, and then miraculously it must go back to $266 without further delay."

Ok, that was funny. Still snickering to myself.