|
undeadbitcoiner (OP)
|
 |
December 25, 2013, 08:05:36 PM
Last edit: April 07, 2018, 02:11:43 PM by undeadbitcoiner |
|
I am not a Writer so there will be lots of mistakes in my writing methods but i can promises you writing method could be mistake but predictions not, I have a long run in Bitcoin and some Alts, I have seen Bitcoin and Believed in Bitcoin from its 10$ price and Still alive to see all time High 19K (Dec 16, 2017) also, In my point of view (I use to create my views with News and upgoing BTC network) BTC will reach 98K or much more than my expectation very soon and this article is about that.
Before going anywhere further lets start from Bitcoin's startup and early times
According to legend, Satoshi Nakamoto began working on the Bitcoin concept in 2007. While he is on record as living in Japan, it is speculated that Nakamoto may be a collective pseudonym for more than one person.
Bitcoin.org is born!
I've been working on a new electronic cash system that's fully
peer-to-peer, with no trusted third party.
The domain was registered at anonymousspeech.com, a site that allows users to anonymously register domain names and currently accepts Bitcoins.
Nakamoto publishes a design paper through a metzdowd.com cryptography mailing list that describes the Bitcoin currency and solves the problem of double spending so as to prevent the currency from being copied. Block 0, the genesis block, is established at 18:15:05 GMT. Version 0.1 of Bitcoin is released. Compiled with Microsoft Visual Studio for Windows, it lacks a command line interface and is so complete that it furthers speculation that it was developed by more than one person, The first transaction of Bitcoin currency, in block 170, takes place between Satoshi and Hal Finney, a developer and cryptographic activist. Bitcoin mining normally stayed in Solo Mining and in Sep 18, 2010 Bitcoin Pooled Mining (operated by slush), a method by which several users work collectively to mine Bitcoins and share in the benefits, mines its first block. December 9, 2010 Mining Difficulty increases The generation difficulty exceeds 10,000
Problems
The Financial Action Task Force, an inter-governmental group that develops and promotes policies to prevent money laundering and funding of terrorists, publishes Money Laundering Using New Payment Methods, to warn about the use of digital currencies to finance terrorist groups.
Silk Road, a Bitcoin marketplace, launches an illicit marketplace for drug deals, called the eBay for drugs Helped for price increase in a short term but was bad for long term Bitcoin Future.
Bitcoin Exchange Rate while Established
New Liberty Standard publishes a Bitcoin exchange rate that establishes the value of a Bitcoin at US$1 = 1,309.03 BTC (As of Oct 5, 2009) which amount of Bitcoin's value as of Oct 5, 2017 is $5,590,251.88 and Today's value as of Nov 20, 2017 is $10,681,665.16, Price as of Oct 5, 2009 was established using an equation that includes the cost of electricity to run a computer that generated Bitcoins. Nov 6, 2010 Calculated by multiplying the number of Bitcoins in circulation by the last trade on MtGox, the Bitcoin economy exceeds US$1 million. The price on MtGox reached US$0.50/BTC.
An Australian member of the Bitcoin Forum attempts to sell his 1984 Celica Supra for 3000 BTC, and becomes the first person to offer a vehicle in exchange for Bitcoins.
June 2, 2011 At MtGox, the exchange rate touches US$10 per BTC. The Bitcoin generation difficulty surpasses 100,000. and ATH created The price of a Bitcoin on MtGox reaches an all-time high of US$31.91 with a market capitalization of around US$206 million on June 8, 2011 exactly after 6 days when Bitcoin Touched $10
May 22, 2010 when 10,000 BTC spent on pizza which Pizza's Today's price is $81,599,850.00 as of Nov 20, 2017
The first, real-world transaction using Bitcoins takes place when a Jacksonville, Florida programmer, Laszlo Hanyecz, offers to pay 10,000 Bitcoins for a pizza on the Bitcoin Forum. At the time, the exchange rate put the purchase price for the pizza at around US$25.
After Pizza transaction and exchange Bitcoin started being popular in few handful people and Over a five day period beginning on July 12, the exchange value of Bitcoin increases ten times from US$0.008/BTC to US$0.080/BTC. July 17 The MtGox Bitcoin currency exchange market is established by Jed McCaleb.
Crash and Panic
A lot of people are worried about the fluctuation and selling there BTC on pressure But New Bit-coiners are doing so we must note that.
Serious and BTC believers are holding all the BTC they have. As few people are concentrate in News which are created by Centralized monetary system. We have to believe our self first that BTC and we Bit-coiners are decentralized, our market is global market Short-term actions of governments are not important, on a global scale they can't fight the inevitable. Regulations are as good against bitcoin as sandbags against tsunami.
We are sometime focusing in Chinese Government news at the mean time I am focusing in Chinese People. Did anyone think about that Chinese Government indirectly handled a lot of profit to Bitcoin? I think no or some yes. While Chinese government issued warning and ban the deposit in the mean time Chinese Community is more curious in investing in Bitcoin and they are searching some other option of Deposit so now see what, is it loss of bitcoin or its loss of Chinese Government? of course of Government its not just a Chinese production so we don't need to worry about anything or any single government, We are Global Ruled and not Ruled by one we are Ruled by Each of Us.
Bitcoin Price Moving up by 2014
The bitcoin price is the result of supply and demand for bitcoin. The more demand there is, the higher the price goes. The more supply there is, the lower the price, The supply side of bitcoin is fairly well known, even if we look into the future. Bitcoin supply growth will drop below 15% annually very soon and finally 21 million no more then that so supply side is always lower and demand side will be always higher.
China Warns on Bitcoin but Traders are still Legal to trade.
India Warns on Bitcoin but Traders are still Legal to trade.
Singapore Government will not interfere in Bitcoin.
More then 40% of American and 20+% Globally known Bitcoin in this small movement so expect 40% global population know about Bitcoin by 2014.
New Business adopting Bitcoin and even some third party transaction are helping people to transact with bitcoin in Amazon, E bay, Walmart and such web stores.
Overstock to come on Mid 2014 and Overstock CEO clearly described why (Patrick Byrne thinks bitcoin could be a helpful addition to the payment system and his company plans to accept the currency, You’re getting rid of the interchange fees. We’re paying credit card companies around 2%. For a company whose margin is 1%, picking up 2% on that is quite attractive)
Every day New Bitcoin Accepters are on the way Today you can buy almost everything from your Bitcoin House to Car and Grocery to Electronics so why not it will reach 50K? Bitcoin have that potential to reach until i will die and Bitcoin have that potential to grow that one day 1 Satoshi will count 100$.
Bitcoin Movement in 2017
If there was one phrase to define the period between May and September of the year 2017, it was The New ATH for bitcoin. The cryptocurrency's price pushed past each successive milestone with apparent ease, including one on May 1 that saw bitcoin break past a record set. This summer also saw significant activity around initial coin offerings, For most of the crypto Lovers 2017 Summer is "the summer of crypto love." By the first week of September, the price of bitcoin exceeded $5,000 for the first time, Despite the pending closure of China's "Big Three" exchanges and a global crackdown on unregulated ICOs beginning to take shape, the price of bitcoin was largely buoyed by a bullish sentiment which would set the stage for some of the eye-popping moves in store for November and December, Yet for all the regulatory rumblings and forks away from the bitcoin network, the cryptocurrency's price largely continued its upward trajectory, culminating with the Bitcoin Price Index's all-time high of $19,783.21 on Dec. 17.
New Investment in Bitcoins
There are many Bitcoin supporters who believe that digital currency is the future and the only Global Currency. Those who endorse it are of the view that it facilitates a much faster, no-fee payment system for transactions across the globe. Although it is not itself any backed by any government or central bank, bitcoin can be exchanged for traditional currencies; in fact, its exchange rate against the dollar attracts potential investors and traders interested in currency plays. Indeed, one of the primary reasons for the growth of digital currencies like Bitcoin is that they can act as an alternative to national fiat money and traditional commodities like gold.
In March 2014, the IRS stated that all virtual currencies, including bitcoins will be recognized as Asset, would be taxed as property rather than currency. Gains or losses from bitcoins held as capital will be realized as capital gains or losses, while bitcoins held as inventory will incur ordinary gains or losses.
Some Other Important Price Prediction
In the past three years, Bitcoin price has increased exponentially, surging by 0.09, 0.22 and 0.66 percent in 2015, 2016 and 2017 respectively on a daily basis. In 2017, Bitcoin price increased by 0.66 percent on a daily basis, as Bitcoin price surged from $980 to $2750 within a six-month period.
If Bitcoin daily gain since 2010 is considered, by 2020, Bitcoin price should reach $250,000. This, of course, assumes that Bitcoin price will increase at an average rate of 0.42 percent on a daily basis, if the seven-year trend of Bitcoin price continues, Bitcoin will be valued at around $250,000 by 2020.
Bitcoin’s value cannot be predicted based on a linear calculation and graph. Bitcoin’s growth in terms of user base and market cap is exponential and because of it, Bitcoin price can’t be calculated with one certain formula.
After the activation of the Segwit protocol and testing of the Lightning Network, the Bitcoin market has been on a steady rise to reach $80 billion market cap. Presently, the market capitalization of Bitcoin stands at almost 50% of the entire crypto market. In addition, it has exceeded the 1% of gold’s estimated $7 trillion market cap. Due to the limited supply, people will start to realize that they might miss out of the opportunity to mine/own Bitcoin has the price will go up in a rapid way. In case the price will rise at the same pace as right now, Bitcoin price by 2020 will reach $20,000, according to the market experts’ opinion.
John McAfee Bullish on Bitcoin Price Reaching $1 Million by 2020
The former Libertarian presidential candidate and onetime fugitive had previously predicted that the bitcoin price would end the decade at $500,000 — and had made the same promise — but he stated that this forecast was predicated on the assumption that bitcoin would rise to $5,000 during 2017.
However, bitcoin has vastly outperformed that prediction, and just this week it rose past $11,000 during a period of intense volatility. Consequently, McAfee feels confident that bitcoin will reach $1 million during the same period — confident enough to bet his manhood on it.
Last All time high price Edit on: Dec 2017
|
