Retracted previous statements :)

[TERA]

I think people have an inflated view of bitcoin's fundamentals. Just because it theoretically COULD serve as mainstream currency (if it doesn't break) doesn't mean that it WILL.

[Ibian]

It's going to at least $100k within a handful of years. Fundamentals dictate it. Up to you what you do with that.

The fundamentals dictate what btc is as a protocol and currency. They don't guarantee that btc will be worth over $100k in a few years.

Yes, they do. They guarantee exactly that. Supply and demand is such a simple concept on paper but so very difficult for most people to understand.

[Ibian]

I think people have an inflated view of bitcoin's fundamentals. Just because it theoretically COULD serve as mainstream currency (if it doesn't break) doesn't mean that it WILL.

That's not even necessary.

[Dr.Zaius]

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

[Paashaas]

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

You are so wrong, we haven't seen anything yet from Bitcoin.

[sidhujag]

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

Sorry heard that too many times.. You must be new.. oops you are. Maybe writeup an essay with your points and we will refer to it as how NOT to invest our money in hindsight.

It will keep rising with network affect until a momn pop coin comed out that solves any probs btc has that its codebase cant fix. Chances are low since people are more trusting of technology without knowing it as ever. Noone will care about bitcoin v2 if they dont need it. Right
now top 1% has been too greedy so people see the need to switch away from fiat aswell as the instant tx without fees and traceability that allows for an order of magnitude in innovation that may fuel our next knowledge bubble.

[Peter R]

Bitcoin 100k is impossible.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes.

Both the bitcoin market cap and user base have been increasing exponentially over the last four years:

[zimmah]

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

You can make your own physical currency as well, just smelt some copper and other cheap metals and mint it in a nice coin that does not already exists. But that doesn't mean your coin will gain any use, nor will it compete with the dollar.

Just like Altcoins will not gain traction and they will not undermine bitcoin.

Also  we are right on the long term trend line. It has been stagnant for months before. It's just the calm before the storm.

[romneymoney]

absolute statements like
"It will never reach $x"
or
"It will be $2 by $date"
or
"It's guaranteed to hit $y"
mark you as an overconfident speculator

[Ibian]

Or, in the last case, as one who understands elementary economics.

[kooke]

absolute statements like
"It will never reach $x"
or
"It will be $2 by $date"
or
"It's guaranteed to hit $y"
mark you as an overconfident speculator

BTC will never reach $1 billion per coin. Am I an over-confident speculator? 

Btw, creating a physical currency is not the same as an alt-coin. Most of the alts are fixed to btc, so when it goes up in value so do they and vice versa. I could create a physical coin, but it's not going to go up in value just because the USD does.

[g4c]

It should be realized that ALL speculation exists in a continuum of probablities in which the concepts of "never" and "always" do not exist.

For example where the USD to hyper inflate then it really would be possible for 1BTC to be 1 billion $.

I'm not saying this is very likely, but you must understand that it is a possibility, and everyone has a different call on the probability, which must be greater than 0% and less than 100%.

The correct terminology, as used by academics, would be terms like "highly unlikely" or "almost certainly".

[g4c]

Bitcoin 100k is impossible.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes.

Both the bitcoin market cap and user base have been increasing exponentially over the last four years:

Dr.Zaius... claiming empirical knowledge, but turning out to be just talking sh*t.  

@Peter R
Careful with that log scale, it infuriates many apes.

[iluvpie60]

Bitcoin 100k is impossible.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes.

Both the bitcoin market cap and user base have been increasing exponentially over the last four years:

Funny that you left out April. I added that in for you(badly added it in with Mspaint lol).

[Dafar]

which one OP? The red/blue pill or the green pill? bitcoin will only go as far as you want it to

[Deviant1]

Another "to the moon" rise is very probable, it's just a matter of when.

The traditional financial system is in complete shambles and fraud, corruption and manipulation run rampant. I forgot which economist said it but today's markets are basically "The Truman Show", a complete farce put on to placate the masses.

There are many events which could lead to another parabolic rise for Bitcoin. Fiat currency devaluations, confiscations, excessive taxation, hyperinflation, Russia or China taking over the reserve currency spot. The list goes on and on.

Bottom line - the chance of Bitcoin dropping under $400 for any lengthy period of time is small. The chance of Bitcoin retesting its all time high is huge!

[Wilhelm]

which one OP? The red/blue pill or the green pill? bitcoin will only go as far as you want it to

I hate the second chart you stole off of igorrr. It's not even a correct trendline  

I'll take the pill to stay in the fantasy land of bitcoin

[frienemy]

which one OP? The red/blue pill or the green pill? bitcoin will only go as far as you want it to

Take the blue pill and certain bodyparts will grow exponentially! Gosh!

[iluvpie60]

Bitcoin 100k is impossible.

You can create bitcoin replica's ad infinitum. Pointing miners to build a network takes a second.

Look how stable the BTC/LTC exchange rate is relative to BTC/USD. You can inflate the total amount of cryptos via substitution. If the price of BTC is too high people go to alts. This isn't a theory its been happening since spring 2013. Litecoin becomes very fungible with BTC.

Bitcoin is now half a decade old. Stagnant development has kept it in a permanent beta stage to give off the aurora that it is the "new" thing. The development "talent" pool has also been a total disappointment. As with all open source projects, no real incentive's in place. The biggest development in the last 12 months has been changing the name to bitcoin core.

Bitcoin userbase is as small as ever. Couple thousand unique users daily at max. All these pumpers have told us about the adoption that's coming, but somehow never materializes. We then quickly hear the excuses China, Mtgox. etc. Look how fast coinmap.org has slowed down, and most of the business's on there are shelling VNC's.

Sorry guys. The bull market was 09-13. The easy money was already made. Sure bitcoin can rise 2 3 4x from here, but another 100 bagger? Not a chance.

You can make your own physical currency as well, just smelt some copper and other cheap metals and mint it in a nice coin that does not already exists. But that doesn't mean your coin will gain any use, nor will it compete with the dollar.

Just like Altcoins will not gain traction and they will not undermine bitcoin.

Also  we are right on the long term trend line. It has been stagnant for months before. It's just the calm before the storm.

Actually you CANNOT make your own physical currency, direct violation of the law in the U.S. and you will go to jail for it. Google it.

[Ed4252]

In the g4c chart, can you tell me approximately what date that triangle ends?