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Author Topic: $10,000 by 2016 very likely  (Read 5407 times)
beetcoin
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November 28, 2013, 08:51:35 PM
 #21

No one betting?
It is safe bet except I would preffer escrow

i would bet but i don't know how trustable the site is. it's sitll the wild wild west right now, so not that safe of a bet.
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jubalix
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November 28, 2013, 10:40:34 PM
 #22

The way the market moves nowadays $10000 in 2014 doesn't seem impossible.
Imagine if a big name moves into Bitcoin, like Western Union or alike...

Considering we added $1000 to the price in just ONE MONTH, it's certainly possible to hit $10k next year. At the current rate of growth we could hit $14k by Dec 2014.

Extrapolating an exponential curve is pretty dangerous though.

not on a log graph its not, having said that  I think we should only be at $300 right now, $1k stable would be about may 2014

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November 29, 2013, 12:59:23 AM
 #23

we will see 10k in 2014

This is very possible.  We could be at the same stage as the first bubble. Can you buy 100m in btc? Not easily. Is it probable one person wishes to do so? 100% yes.

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November 29, 2013, 01:34:57 AM
 #24

Last I heard, betsofbitco.in was run by LukeJr who is a well respected forum member and a core developer. You're not likely to find a more trustable bitcoin service. Feel free to correct me if I'm wrong.
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November 29, 2013, 01:59:00 AM
 #25

The way the market moves nowadays $10000 in 2014 doesn't seem impossible.
Imagine if a big name moves into Bitcoin, like Western Union or alike...

Considering we added $1000 to the price in just ONE MONTH, it's certainly possible to hit $10k next year. At the current rate of growth we could hit $14k by Dec 2014.

Extrapolating an exponential curve is pretty dangerous though.

Not as dangerous as shorting one.  Wink

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November 29, 2013, 02:03:38 AM
 #26

Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?   
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November 29, 2013, 02:08:01 AM
 #27

Make it more interesting. Put it 2014

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November 29, 2013, 08:42:43 AM
 #28

Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?   

Peercoin solves this issue

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notme
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November 29, 2013, 01:34:05 PM
 #29

Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?   

Peercoin solves this issue

By replacing mining with proof-of-stake, only the votes of the wealthy nodes count.

I don't know about you, but I don't like to keep a lot of funds on a public mining node.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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philip2000uk
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November 29, 2013, 01:41:18 PM
 #30

1 Bitcoin will be worth at least $10,000 by 12/31/2016
Success of this bet will occur if 1 Bitcoin is valued at $10,000 or more on one of the largest exchanges of the time (based upon top 4 trading volumes/day).
The $10,000 is in Federal Reserve Notes (US dollars).

Info
Opening date: April 14, 2013
Bet deadline: Dec. 3, 2016 end of day Eastern Time
Event date: Dec. 31, 2016 end of day Eastern Time
Category: Economics
Total agree bets: 0.90
Total disagree bets: 0.90
Total weighted agree bets: 27663.920
Total weighted disagree bets: 28514.809

http://betsofbitco.in/item?id=1532

1 to 1 bet right now, put your bet in to double your bitcoins when it reaches $10k
WTF! I'm not waiting till 2016 to get my $155,000 more like 2015 for $155,000

Leather girls identity film2 on youtube and website link i accept bitcoin Smiley
mestar
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November 30, 2013, 12:10:54 AM
 #31

Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?   

The miners.



No, its the speculators who bought miners' coins on the exchange that actually end up paying for it.

ixne
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November 30, 2013, 12:19:55 AM
 #32

Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?  

The bitcoin network is hashing about 100x more than the top 500 supercomputers combined. If miners aren't making enough to clear their electricity bills, we can afford to lose some hashing power.
pand70
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November 30, 2013, 12:29:04 AM
 #33

10k by 2016 seems a pretty safe bet to me. I wonder how the op came up with the odds

hope4me
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November 30, 2013, 12:52:28 AM
 #34

Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?  

The bitcoin network is hashing about 100x more than the top 500 supercomputers combined. If miners aren't making enough to clear their electricity bills, we can afford to lose some hashing power.


This. Every miner has to decide if it is worth to mine. If not, shut your miner.
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November 30, 2013, 07:33:57 AM
 #35

10k by 2016 seems a pretty safe bet to me. I wonder how the op came up with the odds

I submitted the bet earlier in the year when we reached around $100/BTC.

I figured we were hitting a 10X price increase per year so I figured we would hit $1,000/BTC some time in 2014 and hopefully $10,000 some time in 2015. I added a year to hedge against a slow year.

The bet does not need to go until 2016 if we reach $10,000/BTC then the bet ends.

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
beetcoin
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November 30, 2013, 05:08:56 PM
 #36

it's either giong to be close to $0 or $10,000 by 2016 i'd say. there's no in between.
piramida
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November 30, 2013, 06:21:35 PM
 #37

OR it will get stuck at $1222 forever. Bitcoin found it's stable position. Whoever worried about it being volatile and unsuitable for commerce - well, go do your commerce now Smiley

i am satoshi
BittBurger
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November 30, 2013, 07:36:14 PM
 #38

OR it will get stuck at $1222 forever. Bitcoin found it's stable position. Whoever worried about it being volatile and unsuitable for commerce - well, go do your commerce now Smiley
Lets hope not Smiley

Bitcoin's true purpose defined in Satoshi's message on the Genesis Block:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
View it on the Blockchain | Genesis Block Newspaper Copies
JTrain_51
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November 30, 2013, 07:38:01 PM
 #39

Im sure that everyone in the bitcoin community will sell once it hits 10k thoy
so as soon as bitcoin goes up please don't get pissed if it drops once it hits 5k
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November 30, 2013, 07:57:10 PM
 #40

Im sure that everyone in the bitcoin community will sell once it hits 10k tho...

That's precisely what people said about $1k.  Yet there's plenty of us still holding. Wink

They're trying to buy all the coins. 
We must not let them.
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