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jehst
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December 24, 2015, 08:35:47 PM |
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Damn the planet for not pouring in untold amounts of money in a frenzied and irrational manner. What the hell is wrong with these people? Hello?
I get the sarcasm. But maybe it's time to start running out of government currencies. |
Year 2021
Bitcoin Supply: ~90% mined
Supply Inflation: <1.8%
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talks_cheep
Legendary
 Offline
Activity: 1036
Merit: 1000
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December 24, 2015, 09:03:54 PM |
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So, the OP missed the target by 1000 fold or more, since we can't even get up to 560. We're now at $450 @bfx as of now. It's far off from the promised $560,000. Maybe we will hit 560 in January 2016, which would make it 14 months from September 2014.
This is the problem with bulltards on the forum, they throw around these wild, fantastical numbers like $300K, $560K, $1 Million, and back it with what seems to be wonderful charts. But they are ALL SO F*CKING WRONG!!!
Mass adoption is NOT going to happen. Bitcoin has been around over 6 years now. It's practically an old technology. Even my great grandmother has heard about it and she's been dead for three years now. To most people, money is a serious matter and they tend to be very conservative about their money and finances. Less than 1% of the population will take chances with cryptocurrency. Bitcoin is not a revolution like most people here think it is. It's more like an experiment, and a failed one at that.
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birr
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December 25, 2015, 12:49:46 AM |
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Santa's elves didn't make any $560,000 bitcoins this year.
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BlindMayorBitcorn
Legendary
Offline
Activity: 1260
Merit: 1115
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December 25, 2015, 12:53:09 AM |
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Well this must be embarrassing.   |
Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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jehst
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December 25, 2015, 01:21:23 AM |
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I'm not sure we'll ever get mass adoption.
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Year 2021
Bitcoin Supply: ~90% mined
Supply Inflation: <1.8%
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birr
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December 25, 2015, 01:29:53 AM
Last edit: December 25, 2015, 02:46:16 AM by birr |
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Curve fitting is for interpolation. Trying to use curve fitting for prediction is a bad idea.
That's one of the things they taught us in engineering school.
Even when fitting for interpolation, things can go badly wrong. Example: you have four data points. You find a cubic polynomial that contains them. But when you look at its trace, you discover that in between two of the data points, it flies off to some ridiculous local extremum, many magnitudes away from the data values.
In our case, the curve was apparently fitted in such a way that it gave pretty good interpolative values. But when using arbitrary math, you get arbitrary results. If you follow the trace away from the values that it was fitted for it loses meaning.
The harder you squeeze an equation to make it fit data, the more you will get these outlandish artifacts.
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CoinCidental
Legendary
Offline
Activity: 1316
Merit: 1000
Si vis pacem, para bellum
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December 25, 2015, 03:11:18 AM |
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Well this must be embarrassing. Is isn't......  If you have no faith in the protocol, gtfo It's not line anyone will miss you lol |
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CoinCidental
Legendary
Offline
Activity: 1316
Merit: 1000
Si vis pacem, para bellum
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December 25, 2015, 03:15:14 AM |
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So, the OP missed the target by 1000 fold or more, since we can't even get up to 560. We're now at $450 @bfx as of now. It's far off from the promised $560,000. Maybe we will hit 560 in January 2016, which would make it 14 months from September 2014.
This is the problem with bulltards on the forum, they throw around these wild, fantastical numbers like $300K, $560K, $1 Million, and back it with what seems to be wonderful charts. But they are ALL SO F*CKING WRONG!!!
Mass adoption is NOT going to happen. Bitcoin has been around over 6 years now. It's practically an old technology. Even my great grandmother has heard about it and she's been dead for three years now. To most people, money is a serious matter and they tend to be very conservative about their money and finances. Less than 1% of the population will take chances with cryptocurrency. Bitcoin is not a revolution like most people here think it is. It's more like an experiment, and a failed one at that.
Credit cards were invented in the 1950's and I still know a lot of older people that still don't use them By your logic.... Aha wait Fuck it, never mind.... Continue as you are soldier/slave.... |
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helloeverybody
Legendary
Offline
Activity: 1008
Merit: 1000
★YoBit.Net★ 350+ Coins Exchange & Dice
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December 25, 2015, 09:19:14 AM |
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Only $559,645 out. "I played around and mixed sin, cos and tan a bit to form a graph and this is what I got, it's unfathomable proof that we will see $560,000 14 months from now" 12 months later"still legit" Come on. The graph means nothing bro.  I'm guessing that as I am so wrong and the chart means nothing I should sell, is that it? so close  Itr will be fun to look back at some of the predictions that have been made in the past year when 2020 etc comes along and see how wrong everyone was. |
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jehst
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February 05, 2016, 06:55:04 PM |
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Deflationary forces will work against this sort of movement in the future
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Year 2021
Bitcoin Supply: ~90% mined
Supply Inflation: <1.8%
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birr
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February 05, 2016, 07:08:22 PM |
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More and more, I see that bitcoin's price resides in an earthly orbit well inside the moon's.
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European Central Bank
Legendary
Offline
Activity: 1288
Merit: 1087
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February 05, 2016, 07:10:50 PM |
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Shall we reset the clock for another 14 months or give this idea a rest? It would be a bummer to give up on the idea but maybe reality's gonna bite.
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xDan
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June 18, 2016, 11:38:44 PM |
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So are we all ready for $560K yet?  |
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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talks_cheep
Legendary
Offline
Activity: 1036
Merit: 1000
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June 19, 2016, 12:05:20 AM |
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So are we all ready for $560K yet? No, not even close. It's a pipe dream, currently. It will never come to fuition. If we achieve parity with gold (currently $1280), we will be good, but surpassing the gold parity will be difficult, if not impossible. |
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DonQuijote
Legendary
Offline
Activity: 1551
Merit: 1002
♠ ♥ ♣ ♦ < ♛♚&#
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June 19, 2016, 12:10:45 AM |
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please, add 14 months
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THE INGENIOUS GENTLEMAN DON QUIXOTE OF LA MANCHA |
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hermanhs09
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June 19, 2016, 06:40:52 AM |
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lol, it could happen however it doesn't really seem likely right now. However if there is a collapse in the fiat currencies, then definitely. $1 million is not going to be difficult to achieve after fiat collapses. So yeah, hold onto your bitcoins and let's go for a ride |
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birr
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June 19, 2016, 10:39:16 AM |
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On the day:
"$560k ain't what it used to be"
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2double0
Legendary
Offline
Activity: 2618
Merit: 1105
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June 19, 2016, 07:37:08 PM |
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People here talk about such numbers like these values don't even have values. They say 560k in 14 months like they are talking just 560. Predictions should have a base, and not stupid assumptions. |
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bit1
Legendary
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Activity: 938
Merit: 1000
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June 19, 2016, 08:41:15 PM |
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This clearly is not happening anytime soon, if ever, but if you were to say bitcoin will reach $1150 in 2012, people would call you crazy too.
Even so, There a big difference beetwen 560K and 1K. |
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CoinCidental
Legendary
Offline
Activity: 1316
Merit: 1000
Si vis pacem, para bellum
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June 26, 2016, 05:01:10 PM |
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This clearly is not happening anytime soon, if ever, but if you were to say bitcoin will reach $1150 in 2012, people would call you crazy too.
Even so, There a big difference beetwen 560K and 1K. 560x But from nothing up to a penny Or a dollar up to $1200 is an even bigger 1200x gain It sounds incredible but who knows over the next 50 years it might be worth twice that 1.2million per btc.... Key word is "limited supply" and that's what keeps gold and diamonds valuable.... |
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