NEW ATH BY END OF JULY & $5000 PER BITCOIN BY END OF YEAR

[oda.krell]

I'm not talking about the distant future of how big Bitcoin can grow. That is irrelevant. I'm talking about the present and immediate future. Some of these companies may hold a small amount of Bitcoin but you have to admit you are living in a Bitcoin bubble fantasy if you think most of these big vendors are holding onto their coins.

It's going to be a long while before the majority of big vendors don't auto trade most of their bitcoins into fiat. That's just a simple fact.

What we are going through is a painful transition period that I don't think many people saw coming a year ago, where each new major vendor announcement is actually ironically adding to Bitcoin selling pressure.

That said, everything I've written is of course moot if something causes an epic spike in buying pressure. Some say the ETF's and Wallstreet could spearhead the pump - myself, I am not so sure.

You may misinterpret me as bearish, I'm not. I have significant BTC holdings (all I will say is greater than 3 digits) and I'm a true believer in the long term which is why I hold. But I have a lot of uncertainty about the short term. I will be the first to go nuts if we hit $5k anytime in the next couple of years. I just don't see much happening in 2014 in terms of another crazy price rise like we've seen so many times in the past.

We shall see.

Complete agreement, on each of your points - long term: huge potential, short term: selling pressure outweighs buying pressure, mid term: not 100% certain what the next reliable "new fiat event" will be.

[giveBTCpls]

Ok so no bullshitting now, let's talk about the implications of ebay accepting Bitcoin. How would they deal with the fees? Like how would they benefit, given fee's are minimal to basically non existant with Bitcoin? They are right now making a killing with paypal, so.. from where would the benefits come for them if they accept Bitcoin?

[gentlemand]

I think it'll be one of the very final big companies to get in on the act myself, unless they find a way to turn themselves into some sort of quasi exchange with enormous fees on top. They'll carry on flirting though.

[Kipsy89]

This prediction is still on track....

Strap yourself in people. This will be a year to remember.

CHOO CHOO!

lol, optimist like you allways take the grim of my face.
But lets be objective for a second here, as you are talking about increasing the marketcap from roughly 8 billion to 64 billion usd.

Fast increase in price also means thinner support lines holding that price, and when u loose those due to some  guy's cashout, you also loose trust.
It is much better to return to 1k area and sit there for atleast few months , before considering higher numbers.

A company that has a yearly revenue of $50+ billion just started accepting bitcoin for payment.

That should be a clear sign that Bitcoin can hit $50 billion easily as other merchants will flock to support bitcoin payments in the near future.

Bitcoin marketcap is ~$8 billion now. You do the math. 

Except every new major vendor that accepts Bitcoin actually puts downward selling pressure on the price, as they sell received Bitcoin for fiat. Going to take a while before all the big vendors stop doing that. Investors in your average company wouldn't be too happy about them holding company profits in a volatile investment instrument (BTC).

Long term I believe we're going way up. But I also believe it's going to take longer than people think.

Yes but you can't assume they sell 100% of their coins they collect either.

Dell's yearly revenue shows how big Bitcoin can grow.

You clearly are ignoring this glaring fact.

I'm not talking about the distant future of how big Bitcoin can grow. That is irrelevant. I'm talking about the present and immediate future. Some of these companies may hold a small amount of Bitcoin but you have to admit you are living in a Bitcoin bubble fantasy if you think most of these big vendors are holding onto their coins.

It's going to be a long while before the majority of big vendors don't auto trade most of their bitcoins into fiat. That's just a simple fact.

What we are going through is a painful transition period that I don't think many people saw coming a year ago, where each new major vendor announcement is actually ironically adding to Bitcoin selling pressure.

That said, everything I've written is of course moot if something causes an epic spike in buying pressure. Some say the ETF's and Wallstreet could spearhead the pump - myself, I am not so sure.

You may misinterpret me as bearish, I'm not. I have significant BTC holdings (all I will say is greater than 3 digits) and I'm a true believer in the long term which is why I hold. But I have a lot of uncertainty about the short term. I will be the first to go nuts if we hit $5k anytime in the next couple of years. I just don't see much happening in 2014 in terms of another crazy price rise like we've seen so many times in the past.

We shall see.

Good analysis! You've got some very valid facts and ideas there! But keep in mind that people didn't expect the last bubble either. They only happen when people lose their hope/faith in them. Thanks for doing your part 

[redhawk979]

Nobody is accepting BTC, stop saying that shit. They're all using Coinbase to convert it to FIAT immediately. They don't give a fuck about Bitcoin or they'd hold it in BTC.

Its literally them going "well yea we'll take your money but only if we have a way to convert it to USD". There was no meeting where they went "oh man this shit is the future we need to get in on it!". If there wasn't a conversion service like Coinbase to do this there's no way Dell would be letting people pay with BTC.

Also where is my end of July ATH?

[tooil]

We are still on progress for market domination. Volume drying up at this level implies no seller.

[redhawk979]

Nobody is accepting BTC, stop saying that shit. They're all using Coinbase to convert it to FIAT immediately. They don't give a fuck about Bitcoin or they'd hold it in BTC.

Its literally them going "well yea we'll take your money but only if we have a way to convert it to USD". There was no meeting where they went "oh man this shit is the future we need to get in on it!". If there wasn't a conversion service like Coinbase to do this there's no way Dell would be letting people pay with BTC.

Also where is my end of July ATH?

Overstock holds some of their bitcoins! As the bitcoin economy grows, companies will hold more bitcoin.

And, why are you so mad?

Edit: Oh, you're one of those bitcoin haters, aren't you?

No, but I hate that people are screaming about BTC acceptance when its not really the case. Like I said, Merchants don't seem to care about BTC (some do, most don't), they want their USD.

[kingaltcoins]

It will go to 5000 usd for every coin thinking of it as is still at right on time phase of air pocket

[twiifm]

Nobody is accepting BTC, stop saying that shit. They're all using Coinbase to convert it to FIAT immediately. They don't give a fuck about Bitcoin or they'd hold it in BTC.

Its literally them going "well yea we'll take your money but only if we have a way to convert it to USD". There was no meeting where they went "oh man this shit is the future we need to get in on it!". If there wasn't a conversion service like Coinbase to do this there's no way Dell would be letting people pay with BTC.

Also where is my end of July ATH?

Exactly!  Everything is still priced in fiat. When its priced in BTC then you can say the merchants accept bitcoin

Even my airline price their catalog w miles instead of fiat.  However that doesn't mean I should speculate on my miles going to the MOOON!!!

[smoothie]

Nobody is accepting BTC, stop saying that shit. They're all using Coinbase to convert it to FIAT immediately. They don't give a fuck about Bitcoin or they'd hold it in BTC.

Its literally them going "well yea we'll take your money but only if we have a way to convert it to USD". There was no meeting where they went "oh man this shit is the future we need to get in on it!". If there wasn't a conversion service like Coinbase to do this there's no way Dell would be letting people pay with BTC.

Also where is my end of July ATH?

Really? LOL better start back pedaling on that one bolded above.

Dell from a risk standpoint needs to do that at first. Pretty obvious any company that is starting to get its feet wet with Bitcoin will do it that way.

But you do not know the future, nor does anybody.

"Your end of July ATH"? lol...it is a speculation thread...get over it buddy.

I guess the world revolves around you. 

[smoothie]

Nobody is accepting BTC, stop saying that shit. They're all using Coinbase to convert it to FIAT immediately. They don't give a fuck about Bitcoin or they'd hold it in BTC.

Its literally them going "well yea we'll take your money but only if we have a way to convert it to USD". There was no meeting where they went "oh man this shit is the future we need to get in on it!". If there wasn't a conversion service like Coinbase to do this there's no way Dell would be letting people pay with BTC.

Also where is my end of July ATH?

Overstock holds some of their bitcoins! As the bitcoin economy grows, companies will hold more bitcoin.

And, why are you so mad?

Edit: Oh, you're one of those bitcoin haters, aren't you?

No, but I hate that people are screaming about BTC acceptance when its not really the case. Like I said, Merchants don't seem to care about BTC (some do, most don't), they want their USD.

How do you know that they don't have a deal with coinbase to keep a % of coins in BTC and convert the rest into fiat?

I know bitpay did this as a service at one point. Please stop talking like you know everything and there is no doubt in what you say. That is one thing I hate.

[smoothie]

One glaring thing people seem to miss is that companies like Dell who accept BTC for payment increase their profit margins because they cut a 2-4% fee for payment processing down to 1% with coinbase. One major incentive.

[InwardContour]

I don't think all the companies accepting bitcoin sell all their holdings, everyone who takes a look at
btc charts know that holding is the most safer way to gain more money with low risk.

[Swordsoffreedom]

I think we are going to have massive resistance even at the $1000 level.   I would love to see us hit $5000, but I really don't see how we would get there by the end of this year.   Has anyone done the math on what percent price increase we would need every day in order to reach $5000 by the end of the year?

2% everyday?

We can make it!

The fun thing is that we all know that when that price starts moving
It moves 5 to 10 percent in a day for a while to scare the beejesus out of people

So yes I think we can make it, lot more support and growth over the year can never hurt compared to where we were when it was at $1000.

[riiiiising]

Is there any chance that this could still happen? Please guys, I need to make money on this investment.

[FreeBambi]

I bot 500 dolars of bitcoin on circle.com with moms credit card. Super excited but hop she dont notise or im screved.

[phillipsjk]

I bot 500 dolars of bitcoin on circle.com with moms credit card. Super excited but hop she dont notise or im screved.

This post is so wrong that it is good

• Taking out a loan to buy Bitcoin
• Transaction is unauthorized, so will likely be charged back
• Teen girl persona?

[MrBig]

Is there any chance that this could still happen? Please guys, I need to make money on this investment.

I would not bet on it. The chance of hitting $5k by the end of the year is something like 0.0000001%, give or take a few zeros

[Wilhelm]

Is there any chance that this could still happen? Please guys, I need to make money on this investment.

Don't we all 

[coinableS]

I bot 500 dolars of bitcoin on circle.com

Holla!

with moms credit card.

**FACEPALM**

Super excited but hop she dont notise or im screved.

Excited you stole from your parents? Yea she'll notice. You know, people actually have to pay for credit cards. Her payment is going to increase next month, and if you knocked her over her credit limit she'll really notice. One day, when you grow up, you'll look back and wonder why you thought you were so much smarter than your parents.