Future price of bitcoin - logarithmic chart

[pabloangello]

Hello,

I've just seen link for interesting chart on btc-e chat.

One user posted this:



Looks crazy couse this is logarithmic scale. Hard to believe that this prediction will happen but..

What do you think about this?

[Mike Christ]

I'm okay with this.

[MaxBTC1]

As pointed out before, its cool, but also a load of shite, as past performance is not an indication of future results, especially with something as volatile as Bitcoin.

Also this: http://xkcd.com/605/

[pabloangello]

As pointed out before, its cool, but also a load of shite, as past performance is not an indication of future results, especially with something as volatile as Bitcoin.

Also this: http://xkcd.com/605/

Heh funny chart but little bit exaggerated couse it is based on only one single discrete data. Bitcoin chart is based on milions of discrete datas.
Topic's chart looks enormously crazy for first look but, if worth of dollar will collapse then it can become true and then we will have some kind of devaluation of bitcoin. Am i right?

[BitChick]

I like this chart better (considering an exponential curve) that is on on another post. It is easier for me to visualize it for some reason.  I think it is close to the OPs chart.

https://bitcointalk.org/index.php?topic=322058.msg3464070#msg3464070

We might be on the bottom of the S Curve which implies the best is still yet to come! 

[pabloangello]

I like this chart better (considering an exponential curve) that is on on another post. It is easier for me to visualize it for some reason.  I think it is close to the OPs chart.

https://bitcointalk.org/index.php?topic=322058.msg3464070#msg3464070

We might be on the bottom of the S Curve which implies the best is still yet to come! 

Yup that looks even more interesting about where we can be right now

[dserrano5]

Looks crazy couse this is logarithmic scale. Hard to believe that this prediction will happen but..

What do you think about this?

Would love to be proved wrong but I find it hard to reach $10k next year. I'm pretty convinced we'll see 1k but 10k is just too much (and yeah I know when we were at 1 it seemed impossible to hit 100).

[SlipperySlope]

Would love to be proved wrong but I find it hard to reach $10k next year. I'm pretty convinced we'll see 1k but 10k is just too much (and yeah I know when we were at 1 it seemed impossible to hit 100).

The chart says $1K next year, and $10K in two years. Right?

[dserrano5]

Would love to be proved wrong but I find it hard to reach $10k next year. I'm pretty convinced we'll see 1k but 10k is just too much (and yeah I know when we were at 1 it seemed impossible to hit 100).

The chart says $1K next year, and $10K in two years. Right?

Ah, yup. But still…

[razorfishsl]

As pointed out before, its cool, but also a load of shite, as past performance is not an indication of future results, especially with something as volatile as Bitcoin.

Also this: http://xkcd.com/605/

Heh funny chart but little bit exaggerated couse it is based on only one single discrete data. Bitcoin chart is based on milions of discrete datas.
Topic's chart looks enormously crazy for first look but, if worth of dollar will collapse then it can become true and then we will have some kind of devaluation of bitcoin. Am i right?

So you are saying that a million random data point have more weight than a single random event, when predicting the future?

[beetcoin]

after the hysteria we're going through right now.. we'll be able to review data from 3 bubbles. seems like the first crash was much more significant than the 2nd, and that is probably what is to be expected of the 3rd crash.

first crash went $1->$12->$6, then the second one went from $10->$260->100.

of course, the scale is too small so i don't know.

[balanghai]

Weird. What happened to the $300 now? Is it not included in the chart?

[pabloangello]

As pointed out before, its cool, but also a load of shite, as past performance is not an indication of future results, especially with something as volatile as Bitcoin.

Also this: http://xkcd.com/605/

Heh funny chart but little bit exaggerated couse it is based on only one single discrete data. Bitcoin chart is based on milions of discrete datas.
Topic's chart looks enormously crazy for first look but, if worth of dollar will collapse then it can become true and then we will have some kind of devaluation of bitcoin. Am i right?

So you are saying that a million random data point have more weight than a single random event, when predicting the future?

But they are not random.

[pabloangello]

Would love to be proved wrong but I find it hard to reach $10k next year. I'm pretty convinced we'll see 1k but 10k is just too much (and yeah I know when we were at 1 it seemed impossible to hit 100).

The chart says $1K next year, and $10K in two years. Right?

Ah, yup. But still…

I understand what you feel, but I would like to understand, why it could not happen? Just why not?

[LiteCoinGuy]

could be faster in my opinion 

naah, to be honest: it could also be zero in 2014. dont expect to much and hope for the best.

[BitchicksHusband]

I'm okay with this.

Yeah seriously. I have nothing to complain about looking at that chart.  I hope it's real but I highly doubt it. When the price per BTC becomes so high no one can afford it, and most people will hord then. It's not a currency at that point but just a commodity. Call it digital gold.

Digital gold is OK with me actually.  Everyone will hoard until it reaches the top of the S curve and levels out.  And then the price will stabilize and everyone will start using it for everything.

[mattessow]

I think that this is not so real.. It'll grow up of course but not so fast! I am new in bitcoin but I have a lot of friends who have known bitcoin for a long time and they have the same opinion as I have.

[BitcoinBarrel]

More likely to rise much higher towards the end. Also have to take into account all the bitcoins being mined.

[m00x!]

$100,000 per BTC by 2016 seems a bit high.

[safeminer]

$100,000 per BTC by 2016 seems a bit high.

Indeed, i would expect an amount like that to take at least 5 years, but hey let's op we are wrong