Bitcoin Forum
December 10, 2016, 07:10:58 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Will bitcoin get over 32 again?  (Read 1468 times)
wobber
Legendary
*
Offline Offline

Activity: 1050


View Profile
February 15, 2012, 09:52:38 PM
 #1

Ok. Here's what I learned so far since I found bitcoin in it's beggining: it was designed decentralized as a currency (a purpose) but being decentralized it gave the power to the mass and the mass chose to use it as a commodity. Also learned a lot about myself and how I cope with all those emotions. Learned some trading, some economy. Learned that I can make profit by going down too, not just by hoarding.

I am trying to find out now, if bitcoin will go above it's all-time high this year. We all believe that due to the limited supply of 21 million coins, price for one will be high. But can this happen soon?

If you hate me, you can spam me here: 19wdQNKjnATkgXvpzmSrkSYhJtuJWb8mKs
1481353858
Hero Member
*
Offline Offline

Posts: 1481353858

View Profile Personal Message (Offline)

Ignore
1481353858
Reply with quote  #2

1481353858
Report to moderator
1481353858
Hero Member
*
Offline Offline

Posts: 1481353858

View Profile Personal Message (Offline)

Ignore
1481353858
Reply with quote  #2

1481353858
Report to moderator
1481353858
Hero Member
*
Offline Offline

Posts: 1481353858

View Profile Personal Message (Offline)

Ignore
1481353858
Reply with quote  #2

1481353858
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481353858
Hero Member
*
Offline Offline

Posts: 1481353858

View Profile Personal Message (Offline)

Ignore
1481353858
Reply with quote  #2

1481353858
Report to moderator
1481353858
Hero Member
*
Offline Offline

Posts: 1481353858

View Profile Personal Message (Offline)

Ignore
1481353858
Reply with quote  #2

1481353858
Report to moderator
adamstgBit
Legendary
*
Offline Offline

Activity: 1904


Trusted Bitcoiner


View Profile WWW
February 15, 2012, 09:57:13 PM
 #2

Ok. Here's what I learned so far since I found bitcoin in it's beggining: it was designed decentralized as a currency (a purpose) but being decentralized it gave the power to the mass and the mass chose to use it as a commodity. Also learned a lot about myself and how I cope with all those emotions. Learned some trading, some economy. Learned that I can make profit by going down too, not just by hoarding.

I am trying to find out now, if bitcoin will go above it's all-time high this year. We all believe that due to the limited supply of 21 million coins, price for one will be high. But can this happen soon?

in 10 years, its going to either be 1000$ a coin or 0$

it takes time to make something that is usable by the masses... bitcoin is not their yet, not even close... but its getting better all the time.

Blind
Full Member
***
Offline Offline

Activity: 235



View Profile
February 15, 2012, 10:07:22 PM
 #3

If it won't crash and burn before, obviously yes, thanks to limited supply.

But I really hope it won't happen anytime soon, not before ecosystem grows and Bitcoin become actually useful for regular people, otherwise it will just crash as it did last year, putting off even more people.




Government is not the solution to our problem. Government is the problem. -- Ronald Reagan
Qoheleth
Legendary
*
Offline Offline

Activity: 882


Spurn wild goose chases. Seek that which endures.


View Profile WWW
February 15, 2012, 11:22:28 PM
 #4

Ok. Here's what I learned so far since I found bitcoin in it's beggining: it was designed decentralized as a currency (a purpose) but being decentralized it gave the power to the mass and the mass chose to use it as a commodity. Also learned a lot about myself and how I cope with all those emotions. Learned some trading, some economy. Learned that I can make profit by going down too, not just by hoarding.

I am trying to find out now, if bitcoin will go above it's all-time high this year. We all believe that due to the limited supply of 21 million coins, price for one will be high. But can this happen soon?
If, at some point in the future, the USD value of the goods people want to exchange using Bitcoin exceeds the number of coins held by people willing to circulate them by a factor of about 30, then at that time the price will probably reach 30$ again.

The only way for it to happen sooner is by speculation that that time will soon arrive, and any such speculation has a chance of being a bubble (of the kind we saw in June).

So I guess my answer would be that it depends on how quickly the underlying economy grows.

If there is something that will make Bitcoin succeed, it is growth of utility - greater quantity and variety of goods and services offered for BTC. If there is something that will make Bitcoin fail, it is the culture of naive fools and conmen, the former convinced that BTC is a magic box that will turn them into millionaires, and the latter arriving by the busload to devour them.
stochastic
Hero Member
*****
Offline Offline

Activity: 532


View Profile
February 15, 2012, 11:31:07 PM
 #5

Ok. Here's what I learned so far since I found bitcoin in it's beggining(sp): it was designed decentralized as a currency (a purpose) but being decentralized it gave the power to the mass and the mass chose to use it as a commodity. Also learned a lot about myself and how I cope with all those emotions. Learned some trading, some economy. Learned that I can make profit by going down too, not just by hoarding.

I am trying to find out now, if bitcoin will go above it's all-time high this year. We all believe that due to the limited supply of 21 million coins, price for one will be high. But can this happen soon?

It won't become more valuable unless people start accepting more bitcoins at sites and community members stop worrying if it is used for grey-market activities.  Focusing on bitcoin being accepted at physical stores or on taxi detracts what its true value can be: a medium of exchange of sending local currency online.

Introducing constraints to the economy only serves to limit what can be economical.
Hunterbunter
Hero Member
*****
Offline Offline

Activity: 980


View Profile
February 15, 2012, 11:43:09 PM
 #6

I am trying to find out now, if bitcoin will go above it's all-time high this year. We all believe that due to the limited supply of 21 million coins, price for one will be high. But can this happen soon?

Unlikely imo...but like with anything predictions are what the price is all about.

Most people are ignorant of bitcoins, but for them to become knowledgeable about it there has to be some significant advantage in it for them (the greater the advantage, the faster the word of mouth). I'm not sure that really exists until the world fiat financial market actually goes belly up. In which case I hope bitcoins are ready to go.
kwukduck
Legendary
*
Offline Offline

Activity: 1566


View Profile
February 16, 2012, 08:51:12 AM
 #7

Well if we can trick enough people into thinking it's not a big ponzi scheme, sure it will get to 32 again Smiley

14b8PdeWLqK3yi3PrNHMmCvSmvDEKEBh3E
Cluster2k
Legendary
*
Offline Offline

Activity: 1512


View Profile
February 16, 2012, 10:01:54 AM
 #8

Well if we can trick enough people into thinking it's not a big ponzi scheme, sure it will get to 32 again Smiley

Bitcoin isn't a ponzi scheme.  It's just that too many people are playing the market and trying to get new participants that it's exactly what bitcoin looks and behaves like.

Do not send bitcoins to me: 16b8s7pBJ9rUmsExNW25qD5VUqVqRPZuXu
100% solar powered bitcoin generation
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!