When Will Bitcoin Reach $1000??

[ANiceJewishBoy]

the way we see $1,000/coin today is a lot more realistic than the way we saw $350 11 months ago  

True shit. I thought $300 was a year off, then that happened in a week.

[ANiceJewishBoy]

Bitcoin is indirectly helping publish books, PLEASE SUPPORT!!!!!
http://www.youtube.com/watch?v=Rdn0OU4JrsU

[Corenin]

Re: When Will Bitcoin Reach $1000??

Yes. But only if Satoshi returns and fixes the code. 

What code is needed to be fixed?

[MakeBelieve]

Looking at the price now. I think it could happen very soon indeed.

[ANiceJewishBoy]

Everyone should talk to whoever they spend the most time with: Church, Neighbors, Co-Workers, Fellow Students, etc. And make Facebook events for mass Bitcoin sales in public places.

[ANiceJewishBoy]

So, who thinks it will hit $400 tomorrow?

[ANiceJewishBoy]

We need to start having parties where people pay Bitcoins to drink

Again, flyers would be key and even if no one comes, you raise awareness.

[FreakNet]

My guess is around June, 2014.

[ANiceJewishBoy]

http://app.gyft.com

This link is a place that sells Gift Cards for Bitcoin. Amazon is included, so you can buy almost anything with Bitcoin via Amazon. I've bought books, video games and sunglasses (for my sisters birthday)
And you can get the app on your phone then get something like a Burger King gift card and walk into burger king and use it.

BTW this company sells Facebook Giftcards. So if you know any FB junkies or people that could benefit from FB advertising, Bitcoins can help you buy them a great gift

[KGBSlim]

So BTC on coinbase just dropped 10+USD in a few mins after hitting 347.....anyone think this is the huge sell off dip coming?

[Seanzqt]

So BTC on coinbase just dropped 10+USD in a few mins after hitting 347.....anyone think this is the huge sell off dip coming?

Was watching that as well, my coin value dropped back to $332 from $360 or so - it has gained again - though these things you will never be able to tell.

[KGBSlim]

So BTC on coinbase just dropped 10+USD in a few mins after hitting 347.....anyone think this is the huge sell off dip coming?

Was watching that as well, my coin value dropped back to $332 from $360 or so - it has gained again - though these things you will never be able to tell.

I expect it to drop as usual .....look at the transaction amounts how much they dropped. WTF dont people realize if they are being hoarded and not spent the value drops? This is being treated like a common stock which is great for short term investments but in long run it destroys the value. Watch  the greed take over.....panic sell off will happen just watch. I dont want it to hit 1000.00 right now because there will be a major collapse if there is a big enough sell off of coins. In value not BTC itself to clarify. Thanks for response on coin value, havent been glued to it so I had no idea it even hit 360! Thats unreal!!

[Seanzqt]

So BTC on coinbase just dropped 10+USD in a few mins after hitting 347.....anyone think this is the huge sell off dip coming?

Was watching that as well, my coin value dropped back to $332 from $360 or so - it has gained again - though these things you will never be able to tell.

I expect it to drop as usual .....look at the transaction amounts how much they dropped. WTF dont people realize if they are being hoarded and not spent the value drops? This is being treated like a common stock which is great for short term investments but in long run it destroys the value. Watch  the greed take over.....panic sell off will happen just watch. I dont want it to hit 1000.00 right now because there will be a major collapse if there is a big enough sell off of coins. In value not BTC itself to clarify. Thanks for response on coin value, havent been glued to it so I had no idea it even hit 360! Thats unreal!!

It just dropped on Blockchain to $304 from $330.

[KGBSlim]

So BTC on coinbase just dropped 10+USD in a few mins after hitting 347.....anyone think this is the huge sell off dip coming?

Was watching that as well, my coin value dropped back to $332 from $360 or so - it has gained again - though these things you will never be able to tell.

I expect it to drop as usual .....look at the transaction amounts how much they dropped. WTF dont people realize if they are being hoarded and not spent the value drops? This is being treated like a common stock which is great for short term investments but in long run it destroys the value. Watch  the greed take over.....panic sell off will happen just watch. I dont want it to hit 1000.00 right now because there will be a major collapse if there is a big enough sell off of coins. In value not BTC itself to clarify. Thanks for response on coin value, havent been glued to it so I had no idea it even hit 360! Thats unreal!!

It just dropped on Blockchain to $304 from $330.

Ive been looking at coinbase, only because thats where I usually buy or cashout from. Either way interesting how volatile BTC is.....reminds me of those penny stocks in a way but on larger dollar value......

[ANiceJewishBoy]

They will go up and down in value, but further up in the end.

[KGBSlim]

Yes in the end, but I guess im not as certain as most people it wont take a nice dive first. Anything can happen we just have to sit back and watch.

[Altoidnerd]

I fit the logarithm of bitcoin's price to a line in excel which produced the prediction August 25, 2014




The fit derives from this linear fit of the log of the price



The excel sheet is here

https://drive.google.com/folderview?id=0B2HU2oGcAN_SbDRHZmFsWldSX0E&usp=sharing

[KGBSlim]

Well then if thats true all my mining equipment shall return hard!!! No idea how you came up with or want to even understand it, but I hope it happens.

[Altoidnerd]

Well then if thats true all my mining equipment shall return hard!!! No idea how you came up with or want to even understand it, but I hope it happens.

The excel modeling is really low level statistics crap.  Not very accurate outside of a several month window.  However I explored the validity of log linearity of the bitcoin price and why it should trace an exponential curve while it is this young here:

http://altoidnerd.wordpress.com/

I described a more intricate model and found the price depends strongly on the effective supply (which it should) and made some assumptions about the way the "news" of bitcoin spreads and generated 100's of plots in mathematica and left code in another drive on my blog, linked above.

[hoewer4what]

I fit the logarithm of bitcoin's price to a line in excel which produced the prediction August 25, 2014




The fit derives from this linear fit of the log of the price



The excel sheet is here

https://drive.google.com/folderview?id=0B2HU2oGcAN_SbDRHZmFsWldSX0E&usp=sharing

Nice graph, but exponencial growth cannot last forever