Kupsi
Legendary
 Offline
Activity: 1193
Merit: 1003
9.9.2012: I predict that single digits... <- FAIL
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July 29, 2014, 06:44:19 PM |
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$200,000+
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BitchicksHusband
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July 29, 2014, 07:48:58 PM |
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Do you think Bitcoin will be around in 5 years?
Yes
If so, how much do you think it's value will be?
$50,000-$100,000
Would you buy some now, if you couldn't use it for 5 years?
Yes
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1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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Benjig
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July 29, 2014, 08:28:40 PM |
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Do you think Bitcoin will be around in 5 years?
Yes
If so, how much do you think it's value will be?
$50,000-$100,000
Would you buy some now, if you couldn't use it for 5 years?
Yes
I think in five years this is even a conservative estimate hehe, if current trend continues, it can be higher. |
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ThatDGuy
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July 29, 2014, 08:39:15 PM |
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Do you think Bitcoin will be around in 5 years?
Yes
If so, how much do you think it's value will be?
$50,000-$100,000
Would you buy some now, if you couldn't use it for 5 years?
Yes
Agreed on all of these, with a small exception to the ceiling on the value. I've been way too low on "realistic" medium-term gains for BTC throughout its history until now. If BTC is still around in 2019, 6 figures seems like a valid possibility - going above that $100k potentially. |
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peter378
Member
Offline
Activity: 86
Merit: 10
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July 29, 2014, 10:13:17 PM |
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I was looking at all the shit coins at the bottom of coinmarketcap and wondering if bitcoin will ever go the same way. Will new coins ever take bitcoin's place and push it lower and lower down the capitalization chart?
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DjPxH
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July 29, 2014, 10:35:56 PM |
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I was looking at all the shit coins at the bottom of coinmarketcap and wondering if bitcoin will ever go the same way. Will new coins ever take bitcoin's place and push it lower and lower down the capitalization chart?
Nah, I'd be really puzzled if some coin ever throws bitcoin off of the first place. It's a pure question about adoption and exposure. And Bitcoin is leading by degrees of magnitudes. Side chains may incorporate other coins, though. |
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Patel (OP)
Legendary
Offline
Activity: 1321
Merit: 1007
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July 30, 2014, 01:35:52 AM |
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Interesting thoughts, keep em coming.
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mkc
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July 30, 2014, 07:48:34 AM |
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binary, either p big or fade away to nothing
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arbitrage001
Legendary
Offline
Activity: 1067
Merit: 1000
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July 30, 2014, 11:33:54 AM |
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10M USD per coin. And a slice of bread would be around 500k usd.
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ensurance982
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July 30, 2014, 12:01:15 PM |
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I would be willing to stake quite a bit on the supposition that it will still exist, that blocks will still be coming at about 10 minutes between, and that the price will be above $2/coin. I consider those to be safe suppositions, since the only danger I can see there is if someone was able to partial preimage attack 2SHA256, preimage attack RIPEMD-160, or break our ECDSA curve. Even a miner revolt - often called out as a doomsday scenario - seems unlikely to me to push the price back below $2/coin, taking into account the state of the BTC economy the last time we were at that price compared to the infrastructure in place today.
More than that, I can't say. A lot can happen technologically in five years.
I'd not buy any now for five-year layaway, but that's mostly due to issues of variance comparing poorly to the size of a minimal useful bet. I've got my stash of old money; that's enough for me right now.
But why would it stop at $2/coin? Seems to me that anything so catastrophic would probably just take it down to $0, make it worthless entirely. But maybe I am approaching this wrong. Are you the Mt. Gox Willy-bot? Could you maybe take care that this bubble we've been promised starts showing soon, please? |
We Support Currencies: BTC, LTC, USD, EUR, GBP
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InwardContour
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July 30, 2014, 12:29:22 PM |
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I was looking at all the shit coins at the bottom of coinmarketcap and wondering if bitcoin will ever go the same way. Will new coins ever take bitcoin's place and push it lower and lower down the capitalization chart?
Nah, I'd be really puzzled if some coin ever throws bitcoin off of the first place. It's a pure question about adoption and exposure. And Bitcoin is leading by degrees of magnitudes. Side chains may incorporate other coins, though. I don't think bitcoin will be replaced by an altcoin in the future simply because its developement is not completed. It could still be modified to fix or add any characteristic in order to let it stay in the first place among all the cryptocoins. |
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Qoheleth
Legendary
Offline
Activity: 960
Merit: 1028
Spurn wild goose chases. Seek that which endures.
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August 01, 2014, 09:53:03 AM |
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But why would it stop at $2/coin? Seems to me that anything so catastrophic would probably just take it down to $0, make it worthless entirely. But maybe I am approaching this wrong.
Basically my contention is that there is a subset of the current user population which would stick around for various (ideological or speculative or practical) reasons even if a high-profile double-spend were to occur, and that that subset is >= the number of true believers at the end of 2011 (when we were at the nadir of the post-bubble bear market and there was every reason to believe that the bitcoin experiment was just a flash in the pan). Since the price was unable to push below the $2/coin pricepoint at that time, my thought goes that it would not be able to push below that point in this hypothetical future scenario either. |
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 prevalence of users convinced that BTC is a magic box that will turn them into millionaires, and of the con-artists who have followed them here to devour them.
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bitsmichel
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August 01, 2014, 10:09:25 AM |
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Do you think Bitcoin will be around in 5 years?
Yes
If so, how much do you think it's value will be?
$50,000-$100,000
Would you buy some now, if you couldn't use it for 5 years?
Yes
Agreed on all of these, with a small exception to the ceiling on the value. I've been way too low on "realistic" medium-term gains for BTC throughout its history until now. If BTC is still around in 2019, 6 figures seems like a valid possibility - going above that $100k potentially. I'm sure bitcoin will be around in 5 years, I do not think the bitcoin business will simply stop  . I think we're still early adaptors, there are still many people I speak to who have never heard of bitcoin. For this reason, the marketprice $50,000-$100,000 does not seem unreasonable. |
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Febo
Legendary
Offline
Activity: 2730
Merit: 1288
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August 02, 2014, 02:06:02 PM |
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Probably about as it is now.
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Bit_Happy
Legendary
Offline
Activity: 2100
Merit: 1040
A Great Time to Start Something!
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August 02, 2014, 02:08:11 PM |
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Will Bitcoin be around in 5 years? Yes If so, what's its price? Over $80,000 each |
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vuduchyld
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August 02, 2014, 02:23:08 PM |
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Subject to change of course, and I realize many will disagree, but right now my long term price estimate is $2341, based on M2 calculations and my subjective take on utilization and velocity. I think most analysts that I have read overstate velocity massively by including mining transactions in velocity calculations.
With my current cost average, that means I am hoping for about a 5x total return. Not sure how long it will take, but I am guessing between 5 and 7 years. So for me, bitcoin is not likely to represent life-changing money, but just another long-term investment with a great ROI.
That said, there is certainly potential both to the upside and downside of my current estimate (read: guess). I am wide open to new information.
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bucktotal
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August 02, 2014, 02:27:48 PM |
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exponential growth trend line points to ~15 million USD o.0  |
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Bogleg
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August 02, 2014, 03:32:29 PM |
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exponential growth trend line points to ~15 million USD o.0 Even if that becomes true, I will cash out long before it reaches 15M and never look back. |
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Bit_Happy
Legendary
Offline
Activity: 2100
Merit: 1040
A Great Time to Start Something!
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August 02, 2014, 04:05:03 PM |
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exponential growth trend line points to ~15 million USD o.0 Even if that becomes true, I will cash out long before it reaches 15M and never look back. Always save at least 1 Bitcoin until we get over $14,000,000 |
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mr angry
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August 02, 2014, 05:22:13 PM |
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Subject to change of course, and I realize many will disagree, but right now my long term price estimate is $2341, based on M2 calculations and my subjective take on utilization and velocity. I think most analysts that I have read overstate velocity massively by including mining transactions in velocity calculations.
With my current cost average, that means I am hoping for about a 5x total return. Not sure how long it will take, but I am guessing between 5 and 7 years. So for me, bitcoin is not likely to represent life-changing money, but just another long-term investment with a great ROI.
That said, there is certainly potential both to the upside and downside of my current estimate (read: guess). I am wide open to new information.
What are M2 calculations and would they have accurately have predicted today's price if they were used three years ago? |
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