New ATH, $5,500...coming soon

[Paashaas]

"$5500 this year is completely delusional. I hope really someone ends up posting my response to prove me wrong, but thinking that will happen is, again, delusional."

-chesthing

After more than 900 posts and still not knowing how Bitcoin economics works...pffff. Troll more?

Honestly I think the price of bitcoin could easily hit $5000 if any of the following occur:

1) A country in financial trouble adopts it
2) Merchants rapidly adopt it as a payment option
3) Becomes easily spendable in brick and motor stores (IE QR code scanning to pay for your shirt/beer/groceries etc)
4) There is collapse of a major currency
5) There is massive inflation or "quantitative easing" of a fiat currency

IMO stating that bitcoins will never hit $5000.....is.....well, delusional

This is more a decent respons that i agree with.

[1714479600]

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[1714479600]

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[1714479600]

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[1714479600]

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[TooDumbForBitcoin]

3) Becomes easily spendable in brick and motor stores

There's an Indy 500 joke in there somewhere, but it'd be a lot of work.

[TooDumbForBitcoin]

Troll more?

I checked this out on Wikipedia, and it said the Duke of Trollmore was a 12th century hunchback known for eating sheep during the full moon.

Then I tried to find the Troll Moors on Google Earth, but it kept redirecting me to Google Middle Earth.

[sickpig]

"$5500 this year is completely delusional. I hope really someone ends up posting my response to prove me wrong, but thinking that will happen is, again, delusional."

-chesthing

Wouldn't it make more sense to repeat my post after it has hit $5500?

yep, but maybe proudhon wan't to avoid the possibility of you deleting your own post. just a guess.

[Bronstad]

wan't to avoid the possibility of you deleting your own post. just a guess.

"wa not"
 - sickpig

[sickpig]

wan't to avoid the possibility of you deleting your own post. just a guess.

"wa not"
 - Bronstad

edit1: sure he would have sign the quote with one of his private key

[chesthing]

$5500 this year is completely delusional. I really hope someone ends up posting my response to prove me wrong, but thinking that will happen is, again, delusional.

To be fair people were saying 1200 was delusional.

people probably thought $1 was delusional back when price was $0.01

The difference between .01 and $1 is less than a dollar. The difference between $600 and $5500 is $4,900. I hardly think these compare. I hope to hell I am wrong, because I will be holding btc. I'm just hoping it hits a grand again this year.

[Le Happy Merchant]

“Be fearful when others are greedy and greedy when others are fearful”

― Warren Buffett

"Cheesburger in paradise."

-- Jimmy Buffett

'All you can eat"

-Buffet

[skaffen]

To maintain that price, 25 * 6 * 24 * 5500 = $19,800,000 a day of new mined coins will need to be bought.  Doesn't sound like a huge amount really.

[Elwar]

The exchanges are a small percentage of the Bitcoin economy. It is only there that the price is determined. Not the mined coins.

If you and I are the only people exchanging oranges for apples and all other apples and oranges are stored, if you give me 100 oranges for 1 apple...then that will be the price for all others.

People are quick to complain about the hoarding of coins, then bring up the "cost per day" required to pay for mined coins. The only thing to change the price is the amount of dollars and bitcoins going into the exchanges.

[seleme]

When we start playing at that level, you can bet we'll play among some big players and at big stage. It would be about at time when big players would own big Bitcoin businesses and would have no problems to support the price to gain maximum dollars from their Bitcoin businesses.

[podyx]

$5500 this year is completely delusional. I really hope someone ends up posting my response to prove me wrong, but thinking that will happen is, again, delusional.

To be fair people were saying 1200 was delusional.

people probably thought $1 was delusional back when price was $0.01

The difference between .01 and $1 is less than a dollar. The difference between $600 and $5500 is $4,900. I hardly think these compare. I hope to hell I am wrong, because I will be holding btc. I'm just hoping it hits a grand again this year.

$0.01 and $1 is the same thing as $1k and $100k

they are just numbers

[Ekaros]

$5500 this year is completely delusional. I really hope someone ends up posting my response to prove me wrong, but thinking that will happen is, again, delusional.

To be fair people were saying 1200 was delusional.

people probably thought $1 was delusional back when price was $0.01

The difference between .01 and $1 is less than a dollar. The difference between $600 and $5500 is $4,900. I hardly think these compare. I hope to hell I am wrong, because I will be holding btc. I'm just hoping it hits a grand again this year.

Just think of equal amount of fiat... 0.01 to 1 is at 21M $ at max... Where as 4900$ change is 55,8 billion dollars for 12,4 million coins...

That is slight difference...

[Elwar]

What do you think the catalyst will be for this jump? Ukraine? UK adoption? End of MtGox? A new technology using the blockchain (hint: see my sig)?