Forbes Article Predicts Bitcoin Value will "Explode"

[Justin00]

Its been 3 days. Any explosions yet ??

[gbooz]

Its been 3 days. Any explosions yet ??

nano explosions every day.

[devphp]

Its been 3 days. Any explosions yet ??

https://bitcointalk.org/index.php?topic=671389

[QuestionAuthority]

Its been 3 days. Any explosions yet ??

I just exploded in the men's room at Whole Foods and used a Bitcoin gyft card to pay for my order. Does that count?

[littlewizard]

Waiting for another surge similar with Nov. 2013

[robbyd86]

I remember when btc was around 10:1 and every cent was meaningful, now it goes up and down 10's in one day.  Seems likely another explosion will happen the more companies like Forbes get on board.

[Kipsy89]

if everyone expects a bubble, are we really gonna get one?

[InwardContour]

so begins the explosion

Yep. Bitcoin did shoot up $50 in a day or two.

$50? It is very optimistic...

Bitcoin has moved by much more then $50 in one day before, it has swung by more then $50 in an hour. Bitcoin went up over $50 in the days after the USMS auction.

[moriartybitcoin]

I'm predicting $10k / coin

[devphp]

I predict $1000 by the end of 2014 and bouncing around that price for the year of 2015.
"Trees don't grow to the sky".

[STAyre]

General public did get scared of stupid ghash http://imgur.com/lpuGJpk

Fucking ghash. What fuckers. What absolute cocksuckers. We could be en route to the moon now.

[FlowerMatt]

I wish he would explain how Wall Street plans to monopolize on BitCoin since it is inherently decentralized.
It was invented to work without banks.

Primarily by purchasing Bitcoin as investment I'd say and creating financial products for their clients to do the same. The bank replacements are coming from the startup space which Wall Street isn't super involved in until the IPO stage as far as I know.

[meowdea]

I wish he would explain how Wall Street plans to monopolize on BitCoin since it is inherently decentralized.
It was invented to work without banks.

Bitcoin is actually a great way to create an entirely new class of equities, namely using layered protocols like Mastercoin or Colored coins to build a decentralized stock market.

[meowdea]

I wish he would explain how Wall Street plans to monopolize on BitCoin since it is inherently decentralized.
It was invented to work without banks.

Lots of opportunity for some on Wall Street to revolutionize the securities and equities trade.

[qwerty555]

I wish he would explain how Wall Street plans to monopolize on BitCoin since it is inherently decentralized.
It was invented to work without banks.

Primarily by purchasing Bitcoin as investment I'd say and creating financial products for their clients to do the same. The bank replacements are coming from the startup space which Wall Street isn't super involved in until the IPO stage as far as I know.

I am  of the opinion that Monopolization of bitcoin by Wall St  or govt or multi billionaires is currently really easy with its market cap of just $8billion. Here is the theory which is open for discussion positive or negative.

1. buy and hold all coins that come to market

current trading is running about $50M/ day average. Of this approx $30M/ day is used in commercial activity and anything above that is mostly speculators based on a VERY approximate estimate for May 2014,( but arguably close enough to give an idea)

http://www.quandl.com/BCHAIN/ETRVU-Bitcoin-Estimated-Transaction-Volume-USD

https://bitcointalk.org/index.php?topic=635667.msg7082530#msg7082530

2 This will force the price to rise rapidly as $30M a day is needed to continue the commercial activity and they have to get the coins from somewhere. Those merchants that immediately resell for fiat ( most) and those sales to be bought by the "market manipulator/s as there is currently no laws governing this ") will lead to a vast accumulation of coin by very few ( a situation that already exists and will be compounded ..see rich list)

3 Yes there will be many that will not sell coin until it reaches "d moon"  but commerce will need coin on a daily basis and eventually this supply will dry up..( leading to the price getting half way to d'moon). Bubble....This will also cause more speculators to join in and the manipulator/s can and some will take huge profits ( x10 +++) by dripping their stash into the market at their target price.

This is not a new idea or practice..it has been going on for decades/centuries and the small market cap of all the existing coins makes it "piss easy" and has probably already been going on in the bitcoin market for some time on a limited scale. When wall st money ( trillions) gets involved and others can post the needed parameters for this..they WILL control bitcoin price although not bitcoin itself until it becomes too expensive ($50,000/ coin ++)or too risky ( Govt clamp down/ collapse of bitcoin demand etc)for them to do so.

[Bit_Happy]

I've noticed that Forbes is very high on Bitcoin for about a year now.  

Forbes had one of the positive articles in 2011 that helped spark the first HUGE rally.
The strong media support for Bitcoin is sometimes disturbing. 

[TheTruth4]

I wish he would explain how Wall Street plans to monopolize on BitCoin since it is inherently decentralized.
It was invented to work without banks.

Oh that part's easy. Gold is a pretty good model for how it would work. With enough money, you could buy up huge amounts and then repeatedly game the system. There are only so many Bitcoins in circulation, and it's inherently deflationary, as mining them becomes increasingly more difficult.

[TheTruth4]

I wish he would explain how Wall Street plans to monopolize on BitCoin since it is inherently decentralized.
It was invented to work without banks.

At this point, only those with very specialized server farms can mine Bitcoins with any kind of realistic expectation of a return, so the sources are very limited. By controlling those sources, and controlling the coins that are already mined, I think you'd be surprised how much monopolizing can happen.

[techlover]

Sooner or later, it will explode

[gbooz]

All BTC value game is based on expectations.