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Author Topic: Bitcoin will reach 5-6 dollars within 1-2 months  (Read 7056 times)
fastandfurious
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July 29, 2011, 12:23:24 PM
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I'm guessing that Bitcoin price at the exchanges will reach 5-6 dollars. My main point saying that is because of all the heavy investments that are made in the rigs. People will want to make sure that they get there money back as a first stage of their investment. Doing so will push pressure on the price. At the same time you have all the people that bought in when it was only a couple of cents up to a dollar worth not so long ago. They will also put short term pressure on the price.

I'm also guessing that there are 10-50 people that have 50 000 bitcoins each or more (the early early adapters). This group have a big impact on the price as well. If just a couple of them decides to cash out, the price will drop substantially.

My background is that I live by making money on the financial markets, I have done so for the last 11 years. And I have also invested in Bitcoins in different ways, but are not in any way fully invested.

Any thoughts on the 5-6 dollars price target?
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angelo95
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July 29, 2011, 12:25:38 PM
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I think it might decrease yes. But predicting a target is totally absurd.
Dansker
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July 29, 2011, 12:28:04 PM
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This belongs in the speculation subforum!

fastandfurious
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July 29, 2011, 12:29:02 PM
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I think it might decrease yes. But predicting a target is totally absurd.

I'm not in any way predicting, it's more a guess, and I know that there are many things that can happen in that time period that can substantially make my guessing look totally wrong.
wumpus
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July 29, 2011, 12:46:32 PM
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This belongs in the speculation subforum!
Just tried the "report to moderator" link again, let's hope it works this time.

Bitcoin Core developer [PGP] Warning: For most, coin loss is a larger risk than coin theft. A disk can die any time. Regularly back up your wallet through FileBackup Wallet to an external storage or the (encrypted!) cloud. Use a separate offline wallet for storing larger amounts.
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July 29, 2011, 12:48:04 PM
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I predict that before prices can get to that point, tens of thousands of buy orders come in and raise the price up.

That's my prediction.
Grouver (BtcBalance)
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July 29, 2011, 12:53:50 PM
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I predict this thread is gonna get moved.

Piper67
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July 29, 2011, 12:59:59 PM
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I predict this thread is gonna get moved.

Maybe it's time for a meta-speculation board  Grin
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July 29, 2011, 01:02:12 PM
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Moderator, where are you?

wumpus
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July 29, 2011, 01:02:51 PM
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I predict this thread is gonna get moved.

Maybe it's time for a meta-speculation board  Grin
Or a prediction market Smiley

If people really believe their predictions they should put their money where their mouth is...

Bitcoin Core developer [PGP] Warning: For most, coin loss is a larger risk than coin theft. A disk can die any time. Regularly back up your wallet through FileBackup Wallet to an external storage or the (encrypted!) cloud. Use a separate offline wallet for storing larger amounts.
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July 29, 2011, 01:03:30 PM
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I think it might decrease yes. But predicting a target is totally absurd.

I'm not in any way predicting, it's more a guess, and I know that there are many things that can happen in that time period that can substantially make my guessing look totally wrong.

Say what? English not your first language I guess ? Predicting and guessing is the same thing buddy.

...In the land of the stale, the man with one share is king... >> Clipse

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NetTecture
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July 29, 2011, 01:22:55 PM
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That said, the poster may be right. I was ready to signa contract for a larger data center installation for bitcoin mining and just called it off - the numbers did not work, not the least because pretty much everyone on the other side of the game decided to demand more money. Too much risk, too high price. Especially with the rent up.  I expect quite a lot of people will loose their guts at one point - not everone pays 15 US cents or lower, some pay significantly more and for the mmining is less and less efficient.
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July 29, 2011, 01:51:59 PM
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I think it might decrease yes. But predicting a target is totally absurd.

I'm not in any way predicting, it's more a guess, and I know that there are many things that can happen in that time period that can substantially make my guessing look totally wrong.

Say what? English not your first language I guess ? Predicting and guessing is the same thing buddy.

please tell me you don't actually teach english officially.
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July 29, 2011, 02:44:55 PM
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I fully expect that owners of large caches of bitcoins will sell them privately and discretely to various investors that wish to not use financial exchanges like Dwolla, Mt Gox, and Tradehill.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
stic.man
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July 29, 2011, 02:54:59 PM
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I fully expect that owners of large caches of bitcoins will sell them privately and discretely to various investors that wish to not use financial exchanges like Dwolla, Mt Gox, and Tradehill.

actually when i was moving a decent chunk of change out of tradehill a while back(love no withdrawal limits!) i received an email from them asking if i wanted them to setup some direct trading with some high rollers so I guess the exchanges are also mediating situations like that as well.
Jaime Frontero
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July 29, 2011, 05:39:06 PM
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I fully expect that owners of large caches of bitcoins will sell them privately and discretely to various investors that wish to not use financial exchanges like Dwolla, Mt Gox, and Tradehill.

that's been happening for a while now.  remember bruce wagner's post a couple of months ago, on behalf of a friend who would only sell face-to-face in new york, and had a metric crapton of Bitcoin?

the OPs 10-50 people with 50k+ BTC has been steadily dwindling.

in a year, we'll likely be down to satoshi, vladimir (who was not technically an early adopter), and a couple of others.

the stuff is percolating through the world.  homogeneity will be forthcoming...
payb.tc
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July 30, 2011, 01:43:34 AM
 #17

I personally know someone who is not an early adopter but has 20000+ coins... bought for $8 or 9 each.
he already has nice car and boat though so he's not doing it to get rich.
Edward50
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July 30, 2011, 07:01:35 AM
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I predicted also that bitcoin should fall into the single digits, I have predicted this for a while now. I base this on the fact that bitcoin honestly has currently no real use. I also do not see it having any real use. The problem is that it is too easily hacked. It is too risky to use it as a currency as that may bring the government after you. Plus many other reasons which I do not want to get into.

Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
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July 30, 2011, 07:11:55 AM
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I predict that the prediction made by the predictor will predict the prediction of the predictor's prediction before the predictor's prediction is predicted to be predicted.
cbeast
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Let's talk governance, lipstick, and pigs.


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July 30, 2011, 11:22:51 AM
 #20

It does look like trading on the exchanges is grinding to a halt. Let's hope that some of the early adopters are using their new found wealth to develop vehicles for making easy and safe transactions.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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