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Author Topic: $1,300 to 10,000 very rapidly  (Read 5385 times)
GigaCoin
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November 28, 2013, 10:20:06 AM
 #21

It's a good point and definitely a milestone, this is also important for major Gold Bugs who so far have rejected bitcoin. Once they see Bitcoin surpass Gold, it will induce a media frenzy + launch a whole new buying craze.

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ShroomsKit
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November 28, 2013, 11:39:50 AM
 #22

IMO 1,300$ is more likely to be the crash point. Right now there are about 8k coins to be bought up to 1,300$ (on Gox).
When the sellers will see a significant amount of the bids depleted, they'll know it's time to dump big, or be left holding the bag.

Highly likely.
I'm ready with bids at about 600$.
If you want to make money simply do the opposite of what Tzupy says. He's wrong 100% of the time.

Haha ya it's hilarious to watch.
Eventually he might be right though...i mean he is wrong so many times he has to be right sooner or later  Grin

And he just doesn't see it. He just ignores it and goes on and on...
Poor guy.

Its price is not a very relevant factor in its adoption....
raskolnikovx
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November 28, 2013, 12:23:49 PM
 #23

Some friends requested me to take their money and buy Litecoins.
They just want to avoid the "complexity" of having to read a bit to install a wallet and
understand the basis.

I am saying "No! I cannot be responsable for your money" and they keep comming "I understand the risks, just do it".
The hell I wont!

It is indeed getting more and more popular ...

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fred1111
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November 28, 2013, 12:31:32 PM
 #24

Some friends requested me to take their money and buy Litecoins.
They just want to avoid the "complexity" of having to read a bit to install a wallet and
understand the basis.

I am saying "No! I cannot be responsable for your money" and they keep comming "I understand the risks, just do it".
The hell I wont!

It is indeed getting more and more popular ...
That's a bit sell signal for litecoin right there. I think some people will end up in debt because of this litecoin pump and dump. Sad.
raskolnikovx
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November 28, 2013, 12:39:20 PM
 #25

Some friends requested me to take their money and buy Litecoins.
They just want to avoid the "complexity" of having to read a bit to install a wallet and
understand the basis.

I am saying "No! I cannot be responsable for your money" and they keep comming "I understand the risks, just do it".
The hell I wont!

It is indeed getting more and more popular ...
That's a bit sell signal for litecoin right there. I think some people will end up in debt because of this litecoin pump and dump. Sad.

Litecoin has proved to be in a close relation with Bitecoin. I think Litecoin has yet to catch up a little bit.
Maybe to a 10 or 15% of Bitcoins value but I wouldnt expect to see Litecoins loosing much value if Bitcoins doesnt.
All I know is I moved 0.5 BTC to LTC and now my LTCs are 2.61 BTCs.
=)

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ArpFlush
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November 28, 2013, 01:45:24 PM
 #26

Litecoin has proved to be in a close relation with Bitecoin. I think Litecoin has yet to catch up a little bit.
Maybe to a 10 or 15% of Bitcoins value but I wouldnt expect to see Litecoins loosing much value if Bitcoins doesnt.
All I know is I moved 0.5 BTC to LTC and now my LTCs are 2.61 BTCs.
=)

Yes, you're right. I did a similar move and it appears to be a good choice  Smiley

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November 28, 2013, 02:32:33 PM
 #27

Tonight I dreamt that bitcoin crashed from $1000 down to single digits, but jumped up again before I had the chance to buy more. That shit was scary.

The only dreams I'm listening to are those of Hyena.  His were right on.

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November 28, 2013, 03:02:38 PM
 #28

Abount 270 dollars to go! Let's see if it breaks it this (week)end.

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November 29, 2013, 03:15:57 AM
 #29

It will happen very fast. The fact is that the coins are drying up very quickly on major exchanges, it is just less and less possible to buy some coin without lifting the price. It is almost sold out everywhere

If you consider the amount of excessive fiat money out there (30+ trillion dollars in tax heaven account), any kind of price is possible if a small part of those money start to move towards bitcoin

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November 29, 2013, 03:19:23 AM
 #30

$1,300 -> $10,000 is a ~670% increase and really would not be such an insane jump for a four month period.

I'm more interested in whether or not there will be a price correction so steep that money stops coming in for a while, like in 2011/April of this year.

Since history tends to repeat itself, I think you know what I expect.

Also from 1,000,000 to 2,000,000 it's a 100% increase but to get there price would have to go like what, about $5 per minute non-stop for 4 months.

But $5 is 0.0005% of $1,000,000 so by the time we hit that price the spread for a small trader on Gox will be 2*0.6% or $12,000.

This only shows 0.6% is unsustainable for future trades Smiley
Hey, you pay high fees and where are your money when you try to withdraw USD from MtGox  Huh

Price is irrelavent to how "sustainable" a percentage a based fee is.  Most people won't be trading entire bitcoins if we ever reach that price.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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PenAndPaper
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November 29, 2013, 11:11:35 AM
 #31

I'm taking $1,300 as a starting point because it's more than the next major milestone, an ounce of gold. This will certainly make media buzz and the frenzy could begin.

Also i just realized that 1300$ is almost 1000€. Maybe this will give an additional buzz
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November 29, 2013, 11:23:36 AM
 #32

I'm waiting for £1000 or approx $1600 that is a nice milestone for me for Bitcoins. Smiley
wobber
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November 29, 2013, 10:46:00 PM
 #33

I'm taking $1,300 as a starting point because it's more than the next major milestone, an ounce of gold. This will certainly make media buzz and the frenzy could begin.

Also i just realized that 1300$ is almost 1000€. Maybe this will give an additional buzz

So 1300 will have lots of meanings:

1. More than gold
2. About 1000 €
3. 10 times bigger than the start of the rally.

I think it's a milestone.

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PenAndPaper
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November 30, 2013, 11:41:39 AM
 #34

I'm taking $1,300 as a starting point because it's more than the next major milestone, an ounce of gold. This will certainly make media buzz and the frenzy could begin.

Also i just realized that 1300$ is almost 1000€. Maybe this will give an additional buzz

So 1300 will have lots of meanings:

1. More than gold
2. About 1000 €
3. 10 times bigger than the start of the rally.

I think it's a milestone.

The bad news is that it's both a milestone and a psychological barrier and i 'm seeing that more and more lately in the forum and among my friends.
Apraksin
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November 30, 2013, 12:00:57 PM
 #35

The bad news is that it's both a milestone and a psychological barrier and i 'm seeing that more and more lately in the forum and among my friends.

Yeah, they either decide not to buy since it's perceived as to expensive or they go to the altcoins. We need that millibit quick!

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November 30, 2013, 12:13:52 PM
 #36

Not right away, but after ~2-3 months consolidation it's possible.
PenAndPaper
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November 30, 2013, 01:56:07 PM
 #37

The bad news is that it's both a milestone and a psychological barrier and i 'm seeing that more and more lately in the forum and among my friends.

Yeah, they either decide not to buy since it's perceived as to expensive or they go to the altcoins. We need that millibit quick!

Even in that case some people argue that bitcoin will look like yet another cheap shitcoin. It seems like a lose-lose situation.
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November 30, 2013, 07:24:00 PM
 #38

Can't wait to start seeing in the Wall Observer thread.

All it would take is two or more mega-whales get in a bit-grabbing race. (The likelihood of this increases as price keeps rising.) I see a spike to the 10K within a few months as being incredible, unlikely...but certainly possible.

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November 30, 2013, 09:03:08 PM
 #39

On further thoughts, this is not going to happen, since now you can get a bitcoin ASIC miner immediately from BFL and start to mine coins, unless the network difficulty rise 10 times quickly, the money will go into BFL's pocket

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