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Question: pick one
Yes, I'm am confident - 110 (84%)
I'm not sure / maybe - 11 (8.4%)
Most likely not - 10 (7.6%)
Total Voters: 131

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Author Topic: Do you honestly think Bitcoin's price will have another ATH (all time high)?  (Read 2816 times)
Dafar
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September 24, 2014, 04:00:30 PM
 #1

I'm just trying to gauge people's confidence level after the SHIT year we have had in 2014 (lol at 2014 = "the year of bitcoin")... a lot of people have lost confidence, and I would even say that the general reputation of bitcoin is still negative thanks to Mt Gox.

But there are some people, like me, who still think we are on track for greatness... but we are on a bumpy road that will last longer than most expected, maybe even a few years.

The optimism was much higher at the end of 2013, for this same poll we would have probably seen the majority pick option #1, but lets see what the consensus is now




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September 24, 2014, 04:09:23 PM
 #2

I'm just trying to gauge people's confidence level after the SHIT year we have had in 2014 (lol at 2014 = "the year of bitcoin")... a lot of people have lost confidence, and I would even say that the general reputation of bitcoin is still negative thanks to Mt Gox.

But there are some people, like me, who still think we are on track for greatness... but we are on a bumpy road that will last longer than most expected, maybe even a few years.

The optimism was much higher at the end of 2013, for this same poll we would have probably seen the majority pick option #1, but lets see what the consensus is now

I think it'll just be a replay of the story after the bubble of 2011, more or less. It'll take a while, maybe to the next halving of rewards, during which time Bitcoins spreads in use but price remains relatively stable, maybe going up to 700 or so. Then we'll see the next surge.


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September 24, 2014, 04:09:52 PM
 #3

i think we could breach the ath by years end.

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September 24, 2014, 04:11:13 PM
 #4

Yes. The ecosystem is moving out of the hands of silly sausages into some serious players. We'll see that pay off eventually but it might take a lengthy while yet. I'm not in any hurry myself.

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September 24, 2014, 04:19:18 PM
 #5

Having experienced the $32 to $2 decline, nothing scares me anymore.

Unless better technology is invented, this thing won't be stopped.

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September 24, 2014, 04:20:22 PM
 #6

I'm just trying to gauge people's confidence level after the SHIT year we have had in 2014 (lol at 2014 = "the year of bitcoin")... a lot of people have lost confidence, and I would even say that the general reputation of bitcoin is still negative thanks to Mt Gox.

But there are some people, like me, who still think we are on track for greatness... but we are on a bumpy road that will last longer than most expected, maybe even a few years.

The optimism was much higher at the end of 2013, for this same poll we would have probably seen the majority pick option #1, but lets see what the consensus is now

Yes.

I think we will see even more merchant adoption, a clear choice between closed/open source (ala Apple v Android) and then discounts for using BTC.

It's already becoming a market battlefield - see the timing of the Braintree / PayPal announcement. This will continue at a rapid pace as companies position themselves for the payment revolution. Adopting something as new and trendy as Bitcoin is branding and no one wants to fall behind.

Then, when it becomes noticeably cheaper for Average Joe to use compared to other ways to pay, I think it's buckle up time.












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September 24, 2014, 04:22:36 PM
 #7

Having experienced the $32 to $2 decline, nothing scares me anymore.

Unless better technology is invented, this thing won't be stopped.


If only I knew about this back then... you must be rich  Shocked




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September 24, 2014, 04:24:20 PM
 #8

I guess theoretically it could happen at any point in time.  But I really think a number of factors HAVE to play into such an event:

1.  Some period of time has to past from last ATH.  Usually at a minimum 9-12 months, as market recovers and resets to equilibrium.

2.  Reward halving near or has past

3.  Mining cost dips below exchange rate, and continues to stay there for a long while.

5.  As buying slows down, the exchange price slides to a much undervalued level compared to continued exponentially growing public awareness, network growth, and transaction growth (All of 2012 was a prime example of this).

6.  Other equities and commodities markets suddenly become less attractive

7.  Potentially a black swan event (like Cyprus) or stock market crash

All of the above are merely factors, but ultimately it's whale investors that sense that the market is ready based on the above and start priming it.

It's now clear that the current exchange rate is trending towards an undervalued point.  And I think it could stay there for quite some time (which is good if you are looking to accumulate more, bad if not).  But the longer it stays there (similar to 2012), the more explosive the upswing will be.  We could see the upswing sometime next year, or all of 2015 could be much like 2012.  Who knows.  Only time will tell.

At least sometime by 2016?  If bitcoin market history is an indicator, the odds say 95% yes.
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September 24, 2014, 04:29:07 PM
 #9

Having experienced the $32 to $2 decline, nothing scares me anymore.

Unless better technology is invented, this thing won't be stopped.

Same here. And that was not the only extreme crash we have seen. Each time people loudly and confidently pronounced bitcoin dead. when OI hear that I know it means the person does not understand bitcoin. They treat it like a stock or a bond. Bitcoin is nothing like that and does not require any threshold value to operate.

Is it still the fastest, safest, and cheapest way to send money? Yes? Then we are all good.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin in ICELAND - https://bitcointalk.org/index.php?topic=1610684
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September 24, 2014, 04:32:27 PM
 #10

yes, i m confident that it will happen
bitcoin will break current high price and make a new all time high

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September 24, 2014, 04:46:55 PM
 #11

 Grin

yes im waiting for 1000.000.000,00 usd per bitcoin soon so i can buuy tohse lamborgini and exotic villa at bahama and drink pina colada with girls lot of them...

yesssss
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September 24, 2014, 04:49:13 PM
 #12

Grin

yes im waiting for 1000.000.000,00 usd per bitcoin soon so i can buuy tohse lamborgini and exotic villa at bahama and drink pina colada with girls lot of them...

yesssss
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nice vision  Wink
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September 24, 2014, 04:51:24 PM
 #13

Having experienced the $32 to $2 decline, nothing scares me anymore.

Unless better technology is invented, this thing won't be stopped.

Same here. And that was not the only extreme crash we have seen. Each time people loudly and confidently pronounced bitcoin dead. when OI hear that I know it means the person does not understand bitcoin. They treat it like a stock or a bond. Bitcoin is nothing like that and does not require any threshold value to operate.

Is it still the fastest, safest, and cheapest way to send money? Yes? Then we are all good.

I'm curious about that, because I hear the contrary too. I've heard some businesses and institutions won't consider working with bitcoin until it's above $2-5K/btc, what is all that about?




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September 24, 2014, 04:56:15 PM
 #14

BTC will be like a digital gold in distant future. Its will have very high value, but it will be rare. Few other "coins" will be better suited for every-day payment instrument.
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September 24, 2014, 05:00:06 PM
 #15

Grin

yes im waiting for 1000.000.000,00 usd per bitcoin soon so i can buuy tohse lamborgini and exotic villa at bahama and drink pina colada with girls lot of them...

yesssss
 Cheesy

nice vision  Wink

yes thank you... i know im handsome...
 Grin

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September 24, 2014, 05:07:51 PM
 #16

Higher prices could mean better price stability. It is reasonable to assume that Bitcoin, if lasting, could achieve reserve status with large payment processors doing off chain transactions and other flexible coins like Peercoin supporting day-to-day payments.

For PayPal, this digital thing will lower their cut but could enlarge their playing field tremendously. Basically, banks are slowly losing the payment networks. I have no idea whether this segment of banking currently is actually profitable for banks.

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September 24, 2014, 05:09:27 PM
 #17

Grin

yes im waiting for 1000.000.000,00 usd per bitcoin soon so i can buuy tohse lamborgini and exotic villa at bahama and drink pina colada with girls lot of them...

yesssss
 Cheesy

Stop thinking small again *slap*

Buy an atol in the Bahamas (or have one made) and land there on your own runway with your own plane Smiley
Or go there in your little yacht



Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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September 24, 2014, 05:13:11 PM
 #18

I'm just trying to gauge people's confidence level after the SHIT year we have had in 2014 (lol at 2014 = "the year of bitcoin")... a lot of people have lost confidence, and I would even say that the general reputation of bitcoin is still negative thanks to Mt Gox.

2014 definitely *is* the year of bitcoin. Much more positive developments have already happened in this year than in all the previous years combined! And getting rid of MtGox was one of the positive things that happened.

As for the price, which is depressed now, yeah right, 2014 is not (yet) the year of a huge bitcoin rally, so what? Still is an awesome year with three more months to go.

i am satoshi
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September 24, 2014, 05:28:03 PM
 #19

I'm just trying to gauge people's confidence level after the SHIT year we have had in 2014 (lol at 2014 = "the year of bitcoin")... a lot of people have lost confidence, and I would even say that the general reputation of bitcoin is still negative thanks to Mt Gox.

2014 definitely *is* the year of bitcoin. Much more positive developments have already happened in this year than in all the previous years combined! And getting rid of MtGox was one of the positive things that happened.

As for the price, which is depressed now, yeah right, 2014 is not (yet) the year of a huge bitcoin rally, so what? Still is an awesome year with three more months to go.

I think price matters more than you make it sound. It gives people confidence to buy and/or invest, it puts bitcoin in a positive light and it makes corporations more willing to work with it. When people look at bitcoin right now, the first thing they say is "isn't it that currency that lost over 70% of its value?" You may be one of those people who can say "i don't care about price, I got in at $1 so I'm still up hehe" but let's think about other people too. They care about their money and they won't get involved with something that will make them lose money.

And I can argue that the MtGox fiasco put a shadow on pretty much all positive developments that happened all year. We've had some big merchant adoption this year, sure, and the PayPal news recently is about the best thing to happen this year. But in 2013 we went form not knowing whether the US gov will ban bitcoin to the US accepting bitcoin as a legitimate currency and even embracing it in the Sennate hearings... that is good news, and it helped that we had China on our side to move the price above $1000 for the first time. I would call 2013 the year of bitcoin, not 2014.




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RodeoX
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September 24, 2014, 05:29:35 PM
 #20

Having experienced the $32 to $2 decline, nothing scares me anymore.

Unless better technology is invented, this thing won't be stopped.

Same here. And that was not the only extreme crash we have seen. Each time people loudly and confidently pronounced bitcoin dead. when OI hear that I know it means the person does not understand bitcoin. They treat it like a stock or a bond. Bitcoin is nothing like that and does not require any threshold value to operate.

Is it still the fastest, safest, and cheapest way to send money? Yes? Then we are all good.

I'm curious about that, because I hear the contrary too. I've heard some businesses and institutions won't consider working with bitcoin until it's above $2-5K/btc, what is all that about?
I'm not sure why they would wait for a certain price, unless they are trying to corelate that with how broadly BTC is accepted? It would be a mistake if that were the case. For example, far less places took bitcoin when it was valued by the market at $1000.
If their paradigm is one of stock investing then maybe they are confused. If a stock offering falls to a low price then the capitol the issuer was counting on is not present and the company could go bankrupt. At that point the stock value could fall to zero and become worthless. Bitcoin does not need your money and it woked just fine when bitcoins were $0.50. It also worked fine at $100, $35, or $823. As long as me and one other person is using it, it can at least opperate.

The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf

Free bitcoin in ICELAND - https://bitcointalk.org/index.php?topic=1610684
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