bitcoinsrus (OP)
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May 14, 2014, 09:08:53 PM Last edit: May 15, 2014, 01:04:39 AM by bitcoinsrus |
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Hello, I recently heard about bitcoin (11/29/13) and I did a little chart viewing on the past years. It might be likely that new people coming into bitcoin might not witness such huge rises (compared to the older members here) (1,000-100,000+% etc).
Do you all believe it is just a matter of time before people in 2020 say, "Dang I wish I was in @2014 when I heard about that M.I.T student thing." (meaning price would be multiplied many times the current sub 450 by 2015-2020 ish)
or are new people (like me) too late to see any similar rises? -------------- [edit I forgot to add this part]: I am just estimating, but I think that like 2 million wallets exist (from reading a few things etc). Maybe 1-1.5 million people use or trade (or hold) btc. There is currently a 6 billion market cap. Also by youtube vid views, the amount of people on here (50k+), ebay bids on crypto miners and physical coins etc
it all seems that bitcoin is fairly popular (but not mainstream). So it seems to me that me and people (like me) are either early or in the middle.
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juve4v
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May 14, 2014, 09:13:18 PM |
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People like you need to be patient...
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hd060053
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May 14, 2014, 09:13:58 PM |
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Hello, I recently heard about bitcoin (11/29/13) and I did a little chart viewing on the past years. It might be likely that new people coming into bitcoin might not witness such huge rises (compared to the older members here) (1,000-1,00000% etc).
Do you all believe it is just a matter of time before people in 2020 say, "Dang I wish I was in @2014 when I heard about that M.I.T student thing." (meaning price would be multiplied many times the current sub 450 by 2015-2020 ish)
or are new people (like me) too late to see any similar rises?
you are not too late (still early). lots of people predict the next rally to 5k-10k.
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Ultros
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May 14, 2014, 09:14:59 PM |
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Do you all believe it is just a matter of time before people in 2020 say, "Dang I wish I was in @2014 when I heard about that M.I.T student thing."
Yes. I believe it is a matter of 6 years. Mark my words!
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phillipsjk
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Let the chips fall where they may.
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May 14, 2014, 09:24:07 PM |
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I think Bitcoin has only one 10,000% increase left in it. Based on past history, the declining prices my persist for a year or more.
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James' OpenPGP public key fingerprint: EB14 9E5B F80C 1F2D 3EBE 0A2F B3DE 81FF 7B9D 5160
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Wandererfromthenorth
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May 14, 2014, 09:31:03 PM |
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Absolutely don't worry, it's still a very very early stage.
Don't be fooled by people telling you that investors getting in now are late because we have already seen gazillion percent rises. Of course a currency that in the beginning was owned by a handful of people that could become "digital gold" or a new world currency is gonna have that kind of increases. but percent rises are not a criterion.
The true criterion should be the market cap. If we look at the market cap now and what it could be it's clear that bitcoin is in its infancy.
People on the streets, even if they might have heard about a thing called "bitcoin" they are still clueless about what it is and how to get it. We are still in a phase when it is considered a very high risk investment and even an evangelist like Andreas Antonopoulos is telling you NOT to put your life savings into bitcoin right now.
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MatTheCat
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May 14, 2014, 09:33:16 PM |
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Hello, I recently heard about bitcoin (11/29/13) and I did a little chart viewing on the past years. It might be likely that new people coming into bitcoin might not witness such huge rises (compared to the older members here) (1,000-1,00000% etc).
Do you all believe it is just a matter of time before people in 2020 say, "Dang I wish I was in @2014 when I heard about that M.I.T student thing." (meaning price would be multiplied many times the current sub 450 by 2015-2020 ish)
or are new people (like me) too late to see any similar rises?
Put it this way. Don't think that the market is going to reward you exponentially tomorrow, next week, or even next year. Time your market entry and exits like a demon or hodl and expect to be chopped about like crazy to the point of dismay. But one day, I believe that Bitcoin will experience it's major upward thrust. Perhaps the one that it will go down in history as being most famous for. But if it happens, it aint happening anytime soon. We are either in a Primary wave 4 correction right now, or perhaps on a yet grander scale, a Primary Wave 2. We may go down to $300, then we may go back up $800, or $1000, but then we may go back down to $300. We might be 18 months down the line from this point, and still not have taken out the previous ATH of Dec 2013. But if Bitcoin really is to prove itself as more than a blip in modern history, then the largest growth wave is surely yet to come.
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phillipsjk
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Activity: 1008
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Let the chips fall where they may.
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May 14, 2014, 09:46:31 PM |
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.... but percent rises are not a criterion.
The true criterion should be the market cap. If we look at the market cap now and what it could be it's clear that bitcoin is in its infancy.
I based my percentage increase on expected market cap if Bitcoin eventually becomes a reserve currency (like printed USD or gold). As it is, Bitcoin can't replace VISA/mastercard in the near-term.
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James' OpenPGP public key fingerprint: EB14 9E5B F80C 1F2D 3EBE 0A2F B3DE 81FF 7B9D 5160
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knightcoin
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Stand on the shoulders of giants
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May 14, 2014, 09:50:35 PM |
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... the awareness bitcoin brought to us is spreading ... but eventually you can catch up some nice Pump-Dump, just keep your eyes open in the meanwhile veterans ... we going to see more coins cannibalism; pools cannibalism; exchanges cannibalism ... everybody wants to hit the jackpot ...
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knightcoin
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Stand on the shoulders of giants
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May 14, 2014, 10:04:43 PM |
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.... but percent rises are not a criterion.
The true criterion should be the market cap. If we look at the market cap now and what it could be it's clear that bitcoin is in its infancy.
I based my percentage increase on expected market cap if Bitcoin eventually becomes a reserve currency (like printed USD or gold). As it is, Bitcoin can't replace VISA/mastercard in the near-term. btw I had a customer who had traveled from USA to UK .. I tried to charge his card as debit card and the card was declined many times because connection failure (comms fails, txn xxxx) I thought to myself then : ah ha .. every data network has problems isn't it ? router/switch flapping, cables etc , latency etc ... p2p is so much cheap because anyone can replicate the database ...so when that f**k system going to change ?
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master-P
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May 14, 2014, 10:08:24 PM |
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Hello, I recently heard about bitcoin (11/29/13) and I did a little chart viewing on the past years. It might be likely that new people coming into bitcoin might not witness such huge rises (compared to the older members here) (1,000-1,00000% etc).
Do you all believe it is just a matter of time before people in 2020 say, "Dang I wish I was in @2014 when I heard about that M.I.T student thing." (meaning price would be multiplied many times the current sub 450 by 2015-2020 ish)
or are new people (like me) too late to see any similar rises?
you are not too late (still early). lots of people predict the next rally to 5k-10k. Lots of people are usually way off in their predictions. I remember a thread from over a year ago asking about the price of btc at the end of 2013 and nearly all of the predictions were way too generous except for maybe one or two. While it's very possible that we'll see another rally before the year is over, there's no telling if we'll break the ATH or even see 4-figure btc this year.
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xDan
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May 14, 2014, 10:12:55 PM |
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I think further growth will be meteoric (given continual developments in services and infrastructure), but still slow, playing out over months and years.
Serious people got seriously burned with the $1000 bubble. Nearly everyone has learnt caution I think. (Until next time!)
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HODLing for the longest time. Skippin fast right around the moon. On a rocketship straight to mars. Up, up and away with my beautiful, my beautiful Bitcoin~
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NotLambchop
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May 14, 2014, 10:21:00 PM |
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... The true criterion should be the market cap. If we look at the market cap now and what it could be it's clear that bitcoin is in its infancy. ... My Clonecoin's current market cap is tree fiddy. It could be trillions. Interested?
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Wandererfromthenorth
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May 14, 2014, 10:23:05 PM |
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... The true criterion should be the market cap. If we look at the market cap now and what it could be it's clear that bitcoin is in its infancy. ... My Clonecoin's current market cap is tree fiddy. It could be trillions. Interested? You know what I mean troll
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Wandererfromthenorth
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May 14, 2014, 10:26:59 PM |
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By the way shit altcoins are not gonna replace BTC, it just won't happen. If you guys wanna see reasons for it i suggest you take a look at the Zetacoin juicy drama on twitter.
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NotLambchop
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May 14, 2014, 10:31:17 PM |
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Sure, if Bitcoin becomes world's only currency, it will have the market cap of all world's currencies combined... Wait... oh, you know what I mean Re. altcoins: Fiat world thinks Bitcoin's an altcoin.
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knightcoin
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Stand on the shoulders of giants
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May 14, 2014, 10:32:53 PM |
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By the way shit altcoins are not gonna replace BTC, it just won't happen. If you guys wanna see reasons for it i suggest you take a look at the Zetacoin juicy drama on twitter.
true but ... together bites bitcoin .. http://coinmarketcap.com/
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Wandererfromthenorth
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May 14, 2014, 10:35:25 PM |
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@Notlambchop: what?
Anyway the "world's currency" (I didn't even say "only" lol) hypothesis is in my opinion not gonna happen for a long time if ever, i just mentioned it as a possibility. I think that for the relatively near future the "digital gold" scenario is more probable.
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