come back to this post and see if i am wrong

[7iain7]

I believe bitcoins will ladder all the way down to about $4 or roughly the amount electricity used to create 1BTC.
I think this will take only a few days now no more 5
which imo is not a bad thing.
Let the debate begin...

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[flattyfrog]

What is your basis for this prediction?  Just a hunch?  I'm not criticizing, just curious.

[7iain7]

Typical monterey price correction. bitcoin charts tells you all you need to know.
Not many miners will let there coins go for less than it cost them to create.
If they do then why bother at all ?
The price was driven on pure speculation.
ps sorry for my bad english

[Einewton]

I think your right on this... It's unfourtinate, but the guys who have invested in a few hundred video cards in thier massive mining farms are not going to invest any more into it, but return thier value, and collect a small profit on newley found blocks, and pay for electricity... I think it'll drop down there, then stay down until blocks are harder to find, and less are being found, the miners wont be selling as much, and the value of a BTC will go up.

[Agozyen]

Typical monterey price correction. bitcoin charts tells you all you need to know.
Not many miners will let there coins go for less than it cost them to create.
If they do then why bother at all ?
The price was driven on pure speculation.
ps sorry for my bad english

 Some miners get free electricity, so cost is negligible to them.  Others, like myself, are small players and value bitcoins over electricity and will mine until there is no obvious need to continue or the difficulty gets really bad.  Lastly, not all miners are selling what they mine.  

 I'm not saying bitcoins won't hit $4, all I'm saying is that the charts don't tell the whole story.

[7iain7]

I think the hard part is keeping public interest in bitcoins.
A lot of the interest has come from the wrong quarters.
I do think they will rise again(i hope) but at a more realistic rate.
and hope this is only growing pains for bitcoins.

[supersonic3974]

I agree with Agozyen.  Even if the price continues dropping, I'll continue mining.  For one, I look forward to it rising sometime in the near or distant future.  Secondly, I want to stay in to take advantage of the lower difficulty that might result from other miners stopping.

[MAC]

Very interesting considering where it has gone.

[ennio.morricone]

Not many miners will let there coins go for less than it cost them to create.
If they do then why bother at all ?
The price was driven on pure speculation.

You forget that, as the btc economy grows, there is a increase in the demand for bitcoins. that increase in demand will increase the trading price of btc.
As long as the btc economy grows, the will rise in the long term.

[nobbynobbynoob]

Very interesting considering where it has gone.

Indeed, the OP's prediction did turn out to be more than correct, given the price troughed last autumn at $2,54 or so.

This time next year it could be $254 per BTC on Mt Gox (probably not but you never say never in this game!) for all we know.

[supersonic3974]

Very interesting considering where it has gone.

Indeed, the OP's prediction did turn out to be more than correct, given the price troughed last autumn at $2,54 or so.

This time next year it could be $254 per BTC on Mt Gox (probably not but you never say never in this game!) for all we know.

If nobbynobbynoob has not edited his post since then, then he made a very good prediction!

[irpirate]

Very interesting considering where it has gone.

Indeed, the OP's prediction did turn out to be more than correct, given the price troughed last autumn at $2,54 or so.

This time next year it could be $254 per BTC on Mt Gox (probably not but you never say never in this game!) for all we know.

If nobbynobbynoob has not edited his post since then, then he made a very good prediction!

Yeah, quite an accurate prediction right there.

[7iain7]

Very interesting considering where it has gone.

Indeed, the OP's prediction did turn out to be more than correct, given the price troughed last autumn at $2,54 or so.

This time next year it could be $254 per BTC on Mt Gox (probably not but you never say never in this game!) for all we know.

If nobbynobbynoob has not edited his post since then, then he made a very good prediction!

Yeah, quite an accurate prediction right there.

All I can say is WOW !
Over 2 years on from this original post & look at bitcoin now !
Amazing we have all played our part in making bitcoin what it is today.

[nobbynobbynoob]

Very interesting considering where it has gone.

Indeed, the OP's prediction did turn out to be more than correct, given the price troughed last autumn at $2,54 or so.

This time next year it could be $254 per BTC on Mt Gox (probably not but you never say never in this game!) for all we know.

If nobbynobbynoob has not edited his post since then, then he made a very good prediction!

Nah, I completely forgot about this thread!

Hahaha maybe I can see into the future after all.

[btcton]

Very interesting considering where it has gone.

Indeed, the OP's prediction did turn out to be more than correct, given the price troughed last autumn at $2,54 or so.

This time next year it could be $254 per BTC on Mt Gox (probably not but you never say never in this game!) for all we know.

If nobbynobbynoob has not edited his post since then, then he made a very good prediction!

Yeah, quite an accurate prediction right there.

All I can say is WOW !
Over 2 years on from this original post & look at bitcoin now !
Amazing we have all played our part in making bitcoin what it is today.

I don't usually like other people reviving old threads, but darn...

[sushi]

I don't know where the BitCoin value will settle in the future but the coin will hit the main street in the next few years like Paypal took a few years to be the common payment processing provider.

if the techs are able to come up with 2TH/S mining machines now days, in a few months, that number will be a lot greater and cheaper if they were to stay in the mining equipment business to beat the miners' operating expense vs ROI. 

We need more easy way to exchange the coins to the local currencies to be more widely accepted by the merchants but I think it will get to that point one day.

[exstasie]

Very interesting considering where it has gone.

Indeed, the OP's prediction did turn out to be more than correct, given the price troughed last autumn at $2,54 or so.

This time next year it could be $254 per BTC on Mt Gox (probably not but you never say never in this game!) for all we know.

If nobbynobbynoob has not edited his post since then, then he made a very good prediction!

Yeah, quite an accurate prediction right there.

All I can say is WOW !
Over 2 years on from this original post & look at bitcoin now !
Amazing we have all played our part in making bitcoin what it is today.

I don't usually like other people reviving old threads, but darn...

+1 haha.  So true!  Always great to go back though for this exact purpose.
nobbynobbynoob, do you have any predictions for next year?

[nobbynobbynoob]

I don't usually like other people reviving old threads, but darn...

Of course, I plucked the $254 figure out of certain orifices based on the erroneous price of $2,54 I quoted for the November 2011 trough. Had I correctly identified it as $1,99 I would have said $199 though and similar would have applied.

[nobbynobbynoob]

I don't usually like other people reviving old threads, but darn...

+1 haha.  So true!  Always great to go back though for this exact purpose.
nobbynobbynoob, do you have any predictions for next year?

Lightning never strikes twice, right?

OK, so Max Keiser set "tree fiddy" as a short-term "interim target" and recently tweeted a prediction of $2 per mBTC by the end of 2014.

I was thinking at least 40c per mBTC ($400/BTC) by the middle of 2014, but given "Plunder Woman"'s nomination as the new chairperson of the Fraudulent Reserve, and her likely desire to run the printing press even hotter than did Helicopter Ben, I'll say 60c per mBTC by June/July 2014, weighted across the major exchanges.

Don't put too much faith into my prognoses though.

[secondopinion]

false that is not goin to happen, are you kidding me? no way jose. bitcoins will increase, decrease, increase continously.

Deal with it.

Also i have to tell you that the more bitcoins people have the more the price will rise , but honestly we are so far away from that. who knows what will happen, no need to go and stir up controversy in the forum.

But then again maybe this is what the forum needs, some controversy to live it up.

[secondopinion]

wow i just realized this was made two years ago im sorry. LOL it wasnt a recent post.

[AndrewWilliams]

Lightning never strikes twice, right?

OK, so Max Keiser set "tree fiddy" as a short-term "interim target" and recently tweeted a prediction of $2 per mBTC by the end of 2014.

I was thinking at least 40c per mBTC ($400/BTC) by the middle of 2014, but given "Plunder Woman"'s nomination as the new chairperson of the Fraudulent Reserve, and her likely desire to run the printing press even hotter than did Helicopter Ben, I'll say 60c per mBTC by June/July 2014, weighted across the major exchanges.

Don't put too much faith into my prognoses though.

Thanks for the tip.

I think $600/BTC is a little bullish, but Bitcoin has impressed even the most conservative analyst.

It's not unlikely that widespread adoption will be happening sometime in 2014, creating pressure on the price to go above $500/BTC.