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Bitcoin Forum > Economy > Economics > Speculation > By March 1 what will be BTC value?
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Question: What will be the BTC/USD exchange rate on MtGox by March 1, 2012?  (Voting closed: February 20, 2012, 05:01:09 AM)
.01 - 0.99 - 4 (4.2%)
1.00 - 1.99 - 3 (3.2%)
2.00 - 2.99 - 13 (13.7%)
3.00 - 3.99 - 18 (18.9%)
4.00 - 4.99 - 14 (14.7%)
5.00 - 5.99 - 18 (18.9%)
6.00 - 6.99 - 7 (7.4%)
7.00 - 7.99 - 5 (5.3%)
8.00 - 8.99 - 0 (0%)
9.00 - 9.99 - 0 (0%)
> 10.00 - 13 (13.7%)
Total Voters: 94

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Author Topic: By March 1 what will be BTC value?  (Read 1816 times)
stochastic (OP)
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February 16, 2012, 05:01:09 AM
 #1
Saw this question posted before but I thought it would be more helpful in a poll format.

By March 1, 2012 what do you think the BTC/USD exchange rate will be on Mtgox?
Introducing constraints to the economy only serves to limit what can be economical.
BCMan
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February 16, 2012, 05:55:16 AM
 #2
 I voted .01, not the march, but soon. Kill the bitcoin, bitches!
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February 16, 2012, 05:59:50 AM
 #3
I'd assume that'd be around the time we start recovering in price, so maybe $2.75-$3. - But I can never tell which emotion I should box myself in on that goofy rollercoaster diagram people enjoy pointing to (right now, I'm feeling relieved it hasn't been worse -- I suppose that's a bad sign), so.... Idunno.
Edward50
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February 16, 2012, 06:11:48 AM
 #4
It may go lower than you people will probably expect. We should retest the old lows and should see the $1 dollar range.
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February 16, 2012, 06:13:10 AM
 #5
Quote from: Edward50 on February 16, 2012, 06:11:48 AM
It may go lower than you people will probably expect. We should retest the old lows and should see the $1 dollar range.

I dont see why not. The only thing holding its value up atm is speculation IMO.
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Kluge
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February 16, 2012, 06:14:45 AM
 #6
Just realized poll is a trick question. I will be sad if we start measuring value by BTC/USD instead of USD/BTC.
stochastic (OP)
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February 16, 2012, 07:17:58 AM
 #7
Quote from: Kluge on February 16, 2012, 06:14:45 AM
Just realized poll is a trick question. I will be sad if we start measuring value by BTC/USD instead of USD/BTC.

You are confusing yourself.

BTC is the base currency.

Quote
The base currency is on the left of the slash and the counter (quote) currency is on the right

So if the exchange rate of BTC/USD is 4.5000 that means 1 BTC is quoted at 4.5000 USD.  You might be thinking BTC/USD means Bitcoins per dollar, but don't think of it that way.
Introducing constraints to the economy only serves to limit what can be economical.
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February 16, 2012, 07:26:20 AM
 #8
Quote from: stochastic on February 16, 2012, 07:17:58 AM
Quote from: Kluge on February 16, 2012, 06:14:45 AM
Just realized poll is a trick question. I will be sad if we start measuring value by BTC/USD instead of USD/BTC.

You are confusing yourself.

BTC is the base currency.

Quote
The base currency is on the left of the slash and the counter (quote) currency is on the right

So if the exchange rate of BTC/USD is 4.5000 that means 1 BTC is quoted at 4.5000 USD.  You might be thinking BTC/USD means Bitcoins per dollar, but don't think of it that way.
Thanks. I was assuming the forward slash indicated division.
stochastic (OP)
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February 16, 2012, 07:38:08 AM
 #9
Quote from: Kluge on February 16, 2012, 07:26:20 AM
Quote from: stochastic on February 16, 2012, 07:17:58 AM
Quote from: Kluge on February 16, 2012, 06:14:45 AM
Just realized poll is a trick question. I will be sad if we start measuring value by BTC/USD instead of USD/BTC.

You are confusing yourself.

BTC is the base currency.

Quote
The base currency is on the left of the slash and the counter (quote) currency is on the right

So if the exchange rate of BTC/USD is 4.5000 that means 1 BTC is quoted at 4.5000 USD.  You might be thinking BTC/USD means Bitcoins per dollar, but don't think of it that way.
Thanks. I was assuming the forward slash indicated division.

No  problem.  When I started learning about currency exchange rates I thought it was the same way.

I have only seen one bitcoin exchange that doesn't use BTC as the base currency.  They only have a volume of less than 1000 so they don't matter anyway.
Introducing constraints to the economy only serves to limit what can be economical.
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February 16, 2012, 05:34:43 PM
 #10
That is dumb, / should mean "per" or "divided by".  Oh well, yet another lame contradiction to remember.
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stochastic (OP)
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February 17, 2012, 12:04:40 AM
 #11
Quote from: notme on February 16, 2012, 05:34:43 PM
That is dumb, / should mean "per" or "divided by".  Oh well, yet another lame contradiction to remember.

The format is not a mathematical equation, it is a syntax.  XXX/YYY means "The base currency XXX is quoted at N number of the YYY quote currency.
Introducing constraints to the economy only serves to limit what can be economical.
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