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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 2811 times)
Dafar
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September 24, 2014, 05:32:21 PM
 #21

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 reasoning behind it was technical, I'll try to dig up what I've read about how and why higher priced bitcoin was more useful... I'm still not clear myself




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September 24, 2014, 05:39:06 PM
 #22

http://en.wikipedia.org/wiki/Groupthink

Better to rely on your own critical thinking than to follow the herd.
piramida
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September 24, 2014, 06:02:18 PM
 #23

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.

I can't judge what people say when they first look at bitcoin, but to me it looks like "isn't it the currency that grew 10,000% and then lost 90% then grew another 1000% then lost 70%? nice volatile opportunity to make lots of money". Everybody has their own reasoning, you can't just sum it up for everyone because it will be untrue. Bitcoin is, was, and will for a long time be extremely volatile. Whether or not people have balls to invest into it during it's low season just determines whether or not these people are able to make profits on the volatility.

But from a completely different point of view, we see large amount of businesses and business investments which happily develop infrastructure *not caring a single bit about what the price currently is*. And that's what matters, not how many new short-term profit seekers we can attract. They will run on the next dip, anyway. Infrastructure will stay. The "common people" will go where the infrastructure is the most convenient and use that.

i am satoshi
Dafar
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September 24, 2014, 06:31:14 PM
 #24

^ I see what you're saying, thanks!


http://en.wikipedia.org/wiki/Groupthink

Better to rely on your own critical thinking than to follow the herd.

I'm not using this for any decision making, I just wanted to see how confident people still are. Of course this is bitcointalk.org, where you have a mix of people who are very knowledgeable on bitcoin to those blindly-optimistic, so I take the results with a grain of salt. 86% confidence (current poll results) is much higher than I anticipated though




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noobtrader
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September 24, 2014, 06:54:29 PM
 #25

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


man...
i figure out that if 1 btc become 1000.000.000,00 usd then the price of lambo and exotic villa will reach sky high price due to many bitcoiner will buy them by then.

then again i dont buy airplane bcos i hate altitude and i dont buy yacth because there is shark in the water man... and i dont get it why we ban chinese eating shark fin and let the japanese eat whale, why we hate whale so much ? whale is our friend....

i say let them eat shark fin and save the whales....


 Cheesy

"...I suspect we need a better incentive for users to run nodes instead of relying solely on altruism...",  satoshi@vistomail.com
Dafar
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September 24, 2014, 08:20:36 PM
 #26

^ posts like this make me think we are going nowhere but down, please stop




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bustrod
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September 24, 2014, 09:09:39 PM
 #27

^ posts like this make me think we are going nowhere but down, please stop
aw come now, don't hush his advocating for such a cause as saving the whales.   Tongue

Personally, I wouldn't call this a shit year for bitcoin. Whether you've seen the year as a success or a failure is only a measure of your expectations against reality, but given this is in the speculation sub. with a perspective based on price, I do see your point.

But from a completely different point of view, we see large amount of businesses and business investments which happily develop infrastructure *not caring a single bit about what the price currently is*. And that's what matters, not how many new short-term profit seekers we can attract. They will run on the next dip, anyway. Infrastructure will stay. The "common people" will go where the infrastructure is the most convenient and use that.

This pretty much sums up my opinion. The catalyst for the previous meteoric rise was popularity fueling speculative investing. The foundation for such prices was not there, and when speculators looked around the room to only see more speculators, the bottom dropped out. That is why the plethora of good news we've had this year hasn't impacted price in an equally staggering way -reluctance.

What's exciting then to consider is that $1200 was attained on almost entirely hot air. What is going to happen when the infrastructure beneath bitcoin is further developed? When B2B transactions are facilitated in btc? When couch-potato joe discovers how easy, and cost efficient using btc can be? When the infernal USD<>BTC loop is narrowed and bitcoin becomes an independent ecosystem?

Edit: Forgot to give my answer to the ATH question, if it wasn't already clear. Yes, I expect many new ATHs. Only a matter of time...
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September 24, 2014, 09:28:58 PM
 #28

100% certain, barring any major crypto flaws or Google suddenly adopting Dogecoin.

The only question is, when. Pessimistically I think it could be anywhere 3 - 10 years coming. Since it may have to wait for surges in genuine adoption rather than speculation.

HODLing for the longest time. Skippin fast right around the moon. On a rocketship straight to mars.
Up, up and away with my beautiful, my beautiful Bitcoin~
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September 24, 2014, 10:52:24 PM
 #29

100% certain, barring any major crypto flaws or Google suddenly adopting Dogecoin.

The only question is, when. Pessimistically I think it could be anywhere 3 - 10 years coming. Since it may have to wait for surges in genuine adoption rather than speculation.

If it takes 10 years to reach 1K again, a lot of people will sell before that arrives. People (that missed the boat, like most of us) are hoping to retire in 10 years. If in 10 years we go from 400 to 1000, it's going to be dissapointing.

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September 24, 2014, 10:56:42 PM
 #30

100% certain, barring any major crypto flaws or Google suddenly adopting Dogecoin.

The only question is, when. Pessimistically I think it could be anywhere 3 - 10 years coming. Since it may have to wait for surges in genuine adoption rather than speculation.

If it takes 10 years to reach 1K again, a lot of people will sell before that arrives. People (that missed the boat, like most of us) are hoping to retire in 10 years. If in 10 years we go from 400 to 1000, it's going to be dissapointing.

unless those people have 100 coins, dreams of retiring solely on your profit from bitcoin is pretty delusional. i expect in 10 years or so we could get to around 30-50k in a perfect storm scenario, but even then thats only like a couple million dollars.which after 10 years of inflation will be not a lot of money to retire on, especially if you're retiring early(you have to live off the savings for much longer)
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September 25, 2014, 05:48:28 AM
 #31

It will get ATH and very soon.
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September 25, 2014, 09:21:25 AM
 #32

I'm just trying to gauge people's confidence level after the SHIT year we have had in 2014

Speculators and leeches have had a "shit" year. Everybody else is just fine.
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September 25, 2014, 11:00:43 AM
 #33

I dont think that this will be ATH year for BTC.
More likely next or even 2016.

Except if there were some price pump otherwise no way for this to happen, ay least not his year.





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September 25, 2014, 02:03:13 PM
 #34

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.

Define a lengthy while?

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Dafar
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September 25, 2014, 02:07:47 PM
 #35

100% certain, barring any major crypto flaws or Google suddenly adopting Dogecoin.

The only question is, when. Pessimistically I think it could be anywhere 3 - 10 years coming. Since it may have to wait for surges in genuine adoption rather than speculation.

If it takes 10 years to reach 1K again, a lot of people will sell before that arrives. People (that missed the boat, like most of us) are hoping to retire in 10 years. If in 10 years we go from 400 to 1000, it's going to be dissapointing.

In 10 years, 1000 will be worth 400 or less given the dollar's inflation rate... so that would be a total failure




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September 25, 2014, 02:09:44 PM
 #36

100% certain, barring any major crypto flaws or Google suddenly adopting Dogecoin.

The only question is, when. Pessimistically I think it could be anywhere 3 - 10 years coming. Since it may have to wait for surges in genuine adoption rather than speculation.

If it takes 10 years to reach 1K again, a lot of people will sell before that arrives. People (that missed the boat, like most of us) are hoping to retire in 10 years. If in 10 years we go from 400 to 1000, it's going to be dissapointing.

In 10 years, 1000 will be worth 400 or less given the dollar's inflation rate... so that would be a total failure

When bitcoin is rising people think that we'll hit $10K within 6 months.  When bitcoin is slumping they think it will take 10 years to revisit the previous ATH.

Good lord.   Roll Eyes
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September 25, 2014, 02:33:45 PM
 #37

100% certain, barring any major crypto flaws or Google suddenly adopting Dogecoin.

The only question is, when. Pessimistically I think it could be anywhere 3 - 10 years coming. Since it may have to wait for surges in genuine adoption rather than speculation.

If it takes 10 years to reach 1K again, a lot of people will sell before that arrives. People (that missed the boat, like most of us) are hoping to retire in 10 years. If in 10 years we go from 400 to 1000, it's going to be dissapointing.

In 10 years, 1000 will be worth 400 or less given the dollar's inflation rate... so that would be a total failure

When bitcoin is rising people think that we'll hit $10K within 6 months.  When bitcoin is slumping they think it will take 10 years to revisit the previous ATH.

Good lord.   Roll Eyes


Yup... highly emotional investment




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September 25, 2014, 03:17:33 PM
 #38

When bitcoin is rising people think that we'll hit $10K within 6 months.  When bitcoin is slumping they think it will take 10 years to revisit the previous ATH.

Good lord.   Roll Eyes
Yup... highly emotional investment

Note, I said pessimistically, and also 3 - 10 years, implying nothing other than I think it could, in the very worst case, be a few years.

And when a new ATH is forming, who's to say it won't be another bubble shooting past $1000 right up to $10,000.

My optimistic view is $100K in < 5 years Cheesy

My realistic view is I have no goddamn idea at all (except that it will exceed ATH [in 2014 value] at some point).

HODLing for the longest time. Skippin fast right around the moon. On a rocketship straight to mars.
Up, up and away with my beautiful, my beautiful Bitcoin~
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