Bitcoin Value At The End Of 2011?

[Jaime Frontero]

I really can't wait to see where the price of Bitcoin goes, and the social impact along with it. I think that right now is the calm before the storm, and June was like a gust of wind.

yes.

take a look at the Bitcoin Chart.  set it at 1 year, log scale.

look at the peak at the end of the first week of november 2010.

what's happening now - starting with the peak of june 8th - looks exactly the same.  i've never seen that kind of perfect fit, in any financial chart.

[opticbit]

I think we will see a lot of action as we get close to block 210,000 and shortly after- when the rewards are cut in half.

i'm guessing our next peek will be around 50 usd, in the next few months then drop back to 20 - 30 usd, then up to 60 - 100 usd around the end of this year or beginning of next.

I don't know enough about the economy to make a good prediction, but this is what I see.

I'd like to see what the total value of all the currencies of the world are, and converted to USD, along with a combined inflation rate.  add in a BTC chart of the ratio of global adoption.  

Anyone care to guess the value of a btc when we hit 21M?

[relative]

ask the miners.
everything depends on when they're cashing out (what they hoarded and the 40% inflation that bitcoin creates this year and is awarded to miners)

[cloon]

that will not have a big influence: if many miners sell a huge amount btc, many people think that they have to buy then when it's cheap. like this, the cours will not collapse... only midterm cheaper

[relative]

that will not have a big influence: if many miners sell a huge amount btc, many people think that they have to buy then when it's cheap. like this, the cours will not collapse... only midterm cheaper

at current prices "many people" have to pay the miners 40 million dollars this year.
not including possible sells of previously hoarded coins (or, additional hoarding)

[nazgulnarsil]

2012 inflation will be 38%
2013 inflation will be 12%

[relative]

was referring to now (7/2011) until 6/2012. 40%.

[nazgulnarsil]

was just doing calculations and thought some lazy people might like to know the hard numbers. 

2017 inflation will be under 4%.  IMO that is when things will get VERY interesting VERY quickly.

[relative]

let's hope people totally loose faith in bitcoin until then, but at the same time at least some real-world use of bitcoin emerges
then I might consider buying some. I'll check every few month if the BTC price is close to 1$.

[Steve]

was just doing calculations and thought some lazy people might like to know the hard numbers. 

2017 inflation will be under 4%.  IMO that is when things will get VERY interesting VERY quickly.

Well, it's already very interesting now...but 2013 at only 12% inflation and with lot's of commerce enabled by well developed and easy to use infrastructure looks very interesting to me.

[Grouver (BtcBalance)]

Also a funny thing some friend of mine told me.

Everybody that own bitcoins even if it is just a single bitcoin can say its gonna be thousands of dollars at the end of 2011.
This fictive person says this, to cause many people switch over to bitcoin since they get dollar signs in there eyes and most people only see this currently as a investment instead of a real currency you can pay with.
Thus the price highers since more people want to be a part of the game just cause early adopters say its gonna be super duper high.

Summary:

1) Random early adopter who own alot of bitcoins says its gonna be 1000 dollar at the end 2011.
2) Average Joe reads this and trust all other early adotper comments wich say its gonna be super high at the end of 2011
3) He and many other average Joe's buy for $2000 on Mtgox
4) Price highers
5) Profit for early adopters.

Just think about it...

[nazgulnarsil]

wow, did you think of that yourself or did you ask for help from your mom?

when will the price highers more?

[Grouver (BtcBalance)]

wow, did you think of that yourself or did you ask for help from your mom?

Also a funny thing some friend of mine told me.

Reading is hard...

[supersonic3974]

4) Price highers

Grammar is even harder...

[Grouver (BtcBalance)]

4) Price highers

Grammar is even harder...

Ahw you got me there.

[Rassah]

4) Price highers

Grammar is even harder...

Assuming everyone is from America/UK, and that English is their main language, is kind of a douchebag thing to do, especially on an international forum for an international currency.

[lettucebee]

wow, did you think of that yourself or did you ask for help from your mom?

when will the price highers more?

No need to be cruel.

[supersonic3974]

Assuming everyone is from America/UK, and that English is their main language, is kind of a douchebag thing to do, especially on an international forum for an international currency.

I'm not assuming he is from any particular region.  Why do you assume that I'm assuming that or that I'm even from America/UK myself?

[TraderTimm]

Oh good, some early-adopter profit whining.

*rolls eyes*

[Rassah]

Assuming everyone is from America/UK, and that English is their main language, is kind of a douchebag thing to do, especially on an international forum for an international currency.

I'm not assuming he is from any particular region.  Why do you assume that I'm assuming that or that I'm even from America/UK myself?

Because you obviously assumed that English and subsequent grammar was their first language. Also, this ethnocentric douchebaggery is a rather stereotypical American thing (the "Speak English!" crowd)