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Author Topic: What do you expect to happen to bitcoin in a year's time  (Read 3254 times)
kiwiasian
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August 24, 2011, 10:08:26 PM
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Say you invested $1000 to buy a little under 100 bitcoins at current prices, and completely forget about bitcoin and come back in exactly one year.

What do you expect the price to be? The community? The bitcoin itself?

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August 24, 2011, 10:18:31 PM
 #2

Say you invested $1000 to buy a little under 100 bitcoins at current prices, and completely forget about bitcoin and come back in exactly one year.

Be careful of those cheap mindwipe services.  If someone is offering to sell you those bitcoins at near market price with a free or cheap mindwipe thrown in - you can bet they're doing it just to steal your bitcoins.
Best to get your mindwipe from someone who knows very little about bitcoins, or at least has nothing to do with your bitcoin transactions.

I'd pay quite a bit to get a 1year bitcoin-mindwipe so that I could get my productivity back Wink


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August 24, 2011, 11:35:12 PM
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No idea where the price will be but HIGHER  Cool
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August 24, 2011, 11:41:43 PM
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Much higher than now.

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August 25, 2011, 03:41:48 AM
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I'd pay quite a bit to get a 1year bitcoin-mindwipe so that I could get my productivity back Wink


^^This!  Cheesy

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August 25, 2011, 04:12:00 AM
 #6

- Point-of-Sale machines will have been developed and deployed by multiple exchanges.  Open-source Point-of-Sale machines will also exist.  Combined deployment by August 2012 will be at nearly 1000 units;

- Bitcoin ATMs will be found in a couple of hundred major metropolitan areas;

- Within most G-20 countries, buying Bitcoins will be as easy as buying anything else, whether online or from a brick-and-mortar location or ATM;

- The Bitcoin client will be user-friendly and safe (encrypted).  Several reliable and proven e-wallet options will be available.  Exchanges will also act as e-wallets;

- The term "Bitcoin" will be as well-known as "Bluetooth," "Android," or "Kindle" is today, i.e. common-dog to your average technically inclined 30-something;

- Bitcoin usage will just start to become pervasive in the school-yard, as kids begin playing bitcoin-based gambling games against each other.  Without cash, they can hide their activities from their teachers and parents.  Kids will ask for Bitcoins as birthday gifts and Christmas gifts, instead of pre-paid debit cards;

- Online gambling will have begun the shift to the Bitcoin world, for gamblers to have pseudo-anonymity, avoid geographic boundaries, and enjoy nearly instant deposits and withdrawals.  0.2% (two tenths of one percent) of all online gambling will take place in Bitcoin;

- At least one major online retailer (company worth > $500 million) will accept Bitcoin;

- 5% of all eBay transactions will be settled in Bitcoin, mostly to avoid PayPal fees;

- Some online games will incorporate Bitcoin as their in-game currency;

- The Bitcoin Show will upgrade their studio to incorporate desks, so that Manny and Bruce's sperm-count can recover from the incessant laptop heat;

- Bitcoins will be worth between $150 and $200 each.



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August 25, 2011, 07:37:04 AM
 #7

- Point-of-Sale machines will have been developed and deployed by multiple exchanges.  Open-source Point-of-Sale machines will also exist.  Combined deployment by August 2012 will be at nearly 1000 units;

- Bitcoin ATMs will be found in a couple of hundred major metropolitan areas;

- Within most G-20 countries, buying Bitcoins will be as easy as buying anything else, whether online or from a brick-and-mortar location or ATM;

- The Bitcoin client will be user-friendly and safe (encrypted).  Several reliable and proven e-wallet options will be available.  Exchanges will also act as e-wallets;

- The term "Bitcoin" will be as well-known as "Bluetooth," "Android," or "Kindle" is today, i.e. common-dog to your average technically inclined 30-something;

- Bitcoin usage will just start to become pervasive in the school-yard, as kids begin playing bitcoin-based gambling games against each other.  Without cash, they can hide their activities from their teachers and parents.  Kids will ask for Bitcoins as birthday gifts and Christmas gifts, instead of pre-paid debit cards;

- Online gambling will have begun the shift to the Bitcoin world, for gamblers to have pseudo-anonymity, avoid geographic boundaries, and enjoy nearly instant deposits and withdrawals.  0.2% (two tenths of one percent) of all online gambling will take place in Bitcoin;

- At least one major online retailer (company worth > $500 million) will accept Bitcoin;

- 5% of all eBay transactions will be settled in Bitcoin, mostly to avoid PayPal fees;

- Some online games will incorporate Bitcoin as their in-game currency;

- The Bitcoin Show will upgrade their studio to incorporate desks, so that Manny and Bruce's sperm-count can recover from the incessant laptop heat;

- Bitcoins will be worth between $150 and $200 each.


You sir,
Are way to optimistic.
Though, this is the speculation board of course.

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August 25, 2011, 08:50:48 AM
 #8

i have no idea.

if i had to guess, id say either $10-$15 range or sub $1... with wild swings in price along the way. 
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August 25, 2011, 12:04:55 PM
 #9

It appears that the demand for Bitcoins is slightly outpaced by the inflation for the past few months at about a $1 decline per week outside of a few hype bumps.

I see a slow steady decline that will decline slower and slower until it holds steady early into 2012.

With innovation and more interest will bring about a steady increase of people investing in Bitcoin.

Shortly before the reward for blocks goes from 50 to 25 things will shift and Bitcoin will steadily increase from there outside of a few dips thanks to scare tactics by governments and other currencies and jumps due to big news.

So over the next year I see this:

\__/

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Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
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August 25, 2011, 12:20:57 PM
 #10

Some revolutionary apps will be developed that exploit bitcoin's strengths over traditional payment systems. In a year, a bitcoin will evolve into the new gold-standard of crypto-currencies with several other blockchains branced off for related use. The technology itself is more important than the original blockchain, but the Nakamoto blockchain will grow in value. Bitcoin will be a household name and a statue of Nakamoto will be constructed on Wall Street. =p

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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August 25, 2011, 12:27:40 PM
 #11

Boy, you guys have fertile imaginations.
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August 25, 2011, 12:29:53 PM
 #12

Boy, you guys have fertile imaginations.
Indeed, I’m not so sure whether that’s called delusion or hope.

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August 25, 2011, 12:36:11 PM
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If ever bitcoin approaches the verge of success, it will be snuffed out by world governments. If there is real demand for such a thing it will be revamped by apple or google or some such and they will fix the major flaw of anonymity/irreversibility. In 5-10 years bitcoins will be a relic just like snap bracelets and pogs, a sign of the times and a subject of ridicule.

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August 25, 2011, 02:23:33 PM
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I expect the community to have died out because of trolls and flamewars.
Bitcoin will see it's biggest depression and biggest rise aswell in the meantime,
in about a year i expect the value to be about 300-500 USD, not all because bitcoin went up so much but also because the dollar is tanking, as is the euro Smiley And we're just getting started!

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August 25, 2011, 03:11:33 PM
 #15

...
- Bitcoin ATMs will be found in a couple of hundred major metropolitan areas;
...

If nothing else, I enjoyed that.

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August 26, 2011, 01:48:17 AM
 #16

...
- Bitcoin ATMs will be found in a couple of hundred major metropolitan areas;
...

If nothing else, I enjoyed that.

Quote
Bitcoin ATM is planning 200 Bitcoin ATMs worldwide by Q3 2012.

https://bitcointalk.org/index.php?topic=5122.msg461848#msg461848

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August 26, 2011, 08:02:20 PM
 #17

I hope that one year from now we all stopped comparing bitcoin to dollar or any another currency – simply because there's enough things to buy for bitcoins so that a bitcoin has a value in itself.

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August 30, 2011, 04:31:42 PM
 #18

A year from now,

- Tradehill and Dwolla, which are legitimate but have real operational costs, will have shut down as unprofitable.
- Mt. Gox will still be around, about as flaky as it is now. Commissions will probably go up.
- Almost nobody except Silk Road will accept Bitcoins for merchandise.
- Price will be somewhere below $3.  Maybe much lower, but fan interest alone may keep it above $1.
- Some mining will still be going on, but not much.
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August 30, 2011, 05:13:11 PM
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Do we know how much of Dwolla's business is linked with Bitcoin? 50%? 5%? 75%?
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August 31, 2011, 04:20:38 AM
 #20

Do we know how much of Dwolla's business is linked with Bitcoin? 50%? 5%? 75%?

When Tradehill had their disagreement with Dwolla, their guy said on the Bitcoin web show that they were Dwolla's second biggest customer, and Mt. Gox was first.  So a high percentage of Dwolla's business is related to getting money in and out of Bitcoin exchanges.

You'd think from their site that Dwolla was competing with PayPal and WePay. But apparently they're not getting much of that business. 
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