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Question: Given the state of the EURO and rising USD and JPY what will bit coin be worth in 6 months  (Voting closed: May 22, 2012, 10:58:37 AM)
same around $5 USD - 11 (20.4%)
it will go 20% higher - 28 (51.9%)
More than doubble - 8 (14.8%)
decline slightly - 4 (7.4%)
near zero - 3 (5.6%)
Total Voters: 54

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Author Topic: Where do you see bit coin in the next 2 - 6 months  (Read 1673 times)
aliveonearth
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May 17, 2012, 10:58:37 AM
 #1

new b post what is the future of bit coin
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bitcoinraffle.co
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May 17, 2012, 04:29:33 PM
 #2

I see it the same place it is now... not in my wallet.  Grin

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May 17, 2012, 04:52:13 PM
 #3

Laws of supply and demand say it will double in the near future after the block reward split.

TONS of people will stop mining.  I will buy all their rigs and wait it out Smiley

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May 17, 2012, 09:15:22 PM
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Hmmm. I'm not sure how much a rise in BTC price correlates with what's going on with fiat money. I haven't noticed BTC fluctuate much in accordance with international currency markets.

I think a better indicator of where BTC will be is found looking at the various goods and services that use BTC. For example, if a popular game that uses BTC as currency pops up, the price will skyrocket. I don't think you would see the same effect with changes in the currency market.

That being said, I think it will steadily rise no matter what. Want to see it skyrocket? Support Bitcoin Services!

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May 17, 2012, 09:46:17 PM
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Hmmm. I'm not sure how much a rise in BTC price correlates with what's going on with fiat money. I haven't noticed BTC fluctuate much in accordance with international currency markets.

I think a better indicator of where BTC will be is found looking at the various goods and services that use BTC. For example, if a popular game that uses BTC as currency pops up, the price will skyrocket. I don't think you would see the same effect with changes in the currency market.

That being said, I think it will steadily rise no matter what. Want to see it skyrocket? Support Bitcoin Services!

+1 for sure.

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May 18, 2012, 05:44:58 AM
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I've been watching it passively for a very long time now and watched it go from ~$20/BTC down to ~$5/BTC and it's stayed there for quite a while, so it seems like it's going to remain in the $4-6 range for the foreseeable future--unless a large online merchant (not even the Amazon or Steams of the world, even a smaller group like GOG.com or GamersGate would be enough to catapult the value sky high) starts accepting them.
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May 18, 2012, 05:24:50 PM
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I've been watching it passively for a very long time now and watched it go from ~$20/BTC down to ~$5/BTC and it's stayed there for quite a while, so it seems like it's going to remain in the $4-6 range for the foreseeable future--unless a large online merchant (not even the Amazon or Steams of the world, even a smaller group like GOG.com or GamersGate would be enough to catapult the value sky high) starts accepting them.

Probably.  The boom to $30+ prices in June of last year was mostly because of the exposure from the Wired article about Silk Road.  The bust in August was just a market correction.  If you ignore that when looking at the price since Bitcoin first appeared, the increase to the current price over time is slow and steady.  That trend is very likely going to continue unless something else happens that puts another run on the supply of Bitcoins.

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May 19, 2012, 01:43:11 AM
 #8

I can tell you that very exciting things will happen within 2-6 months.  And probably every month thereafter Wink

Bitcoin has proven itself last year. Many people thought the whole thing was a joke, and when the price bubble popped they argued Bitcoin would fall to zero and go away. Yet, it still ended 2011 up over 1,400%, making it the best performing asset class in the world.

This year, it's shown remarkable stability which is another thing critics have said could not happen. Slowly but surely, people are discovering how useful and revolutionary this technology is. The change takes a while, but it's happening bit by bit. Must be the most exciting project in the world to be involved in, considering the potential ramifications of success.
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May 19, 2012, 02:20:05 AM
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I definitely see it raising maybe not quite 20% but at least somewhere greater than 10%. As has been stated by others it has proven itself even after the decline. Great things are coming I think.
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May 19, 2012, 06:03:09 PM
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I hope the value rises sky high like I saw last june (and the one before that I think)

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May 19, 2012, 06:24:16 PM
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I can tell you that very exciting things will happen within 2-6 months.  And probably every month thereafter Wink

Bitcoin has proven itself last year. Many people thought the whole thing was a joke, and when the price bubble popped they argued Bitcoin would fall to zero and go away. Yet, it still ended 2011 up over 1,400%, making it the best performing asset class in the world.

This year, it's shown remarkable stability which is another thing critics have said could not happen. Slowly but surely, people are discovering how useful and revolutionary this technology is. The change takes a while, but it's happening bit by bit. Must be the most exciting project in the world to be involved in, considering the potential ramifications of success.

+1

There is a lot of upside in the bitcoin economy and it would not be surprising to see BTCUSD triple, quadruple, quintuple or more in the foreseeable future.

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May 20, 2012, 01:28:23 AM
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Soon someone will create a better version or a new currency based on bitcoin when you don't have to download 2 GB to get started and I am not talking about client bitcoin version
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May 20, 2012, 07:14:13 PM
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I hope it rises a lot.I really do think that if someone can comeup with a good alternative to bitcoin they can make a lot of $$$ by licensing the tech to people willing to build apps around them. I expect it to be around maybe $11 in 2 months time based on Eurozone crisis.

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Conch
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May 20, 2012, 10:13:39 PM
 #14

Sorry if this seems rather stupid..
But after reading some of the new topics on BTC and the way it works, There are (from what I read) only 21 million bitcoins available which are slowly diminishing over time, what happens after all 21 millions coins are revealed, is that the end of bitcoin & cyber currency? As I also read, the number of bitcoins will never increase above 21 mil.

Just curious.

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May 20, 2012, 10:23:57 PM
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If it were still a GPU only game, the block split would most likely have increased the price.

But consider all the energy efficient FPGAs that will be online in 6 months, especially the MiniRigs, and the exiting of some GPU miners.

This means the average price of electricity per Bitcoin mined will drop before the split.

I think we will see $3 before we see $10

EDIT: I do realize that there's also a lot of "Hopes and Wishes" that it will go up. And as much as we need rational discourse, the truth is this is a wild beast that cannot be tamed, and it will go wherever which way it wants  Wink
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May 20, 2012, 10:44:05 PM
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In the next weeks I think the price will go down, but who knows...
Perhaps the media focuses again in the summer on it and will create another hype...

@iSellBitcoins  good idea !
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May 21, 2012, 12:30:10 AM
 #17

In the last months the price of bitcoins has been very stable.
Although I would like to see it higher and higher, I think in the future the value of one bitcoin will be easily to forecast in the near future because of the maturity of bitcoins.

In my opinion, new Hedge funds, Forex markets, Futures trading and the like, will help stabilize the bitcoin market even further.

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May 21, 2012, 03:54:18 AM
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$5 Because of the euro fall.

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May 21, 2012, 04:00:43 AM
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Sorry if this seems rather stupid..
But after reading some of the new topics on BTC and the way it works, There are (from what I read) only 21 million bitcoins available which are slowly diminishing over time, what happens after all 21 millions coins are revealed, is that the end of bitcoin & cyber currency? As I also read, the number of bitcoins will never increase above 21 mil.

Just curious.

Bitcoin has a fixed monetary base of 21 million BTC, which will never increase or decrease. These coins are initially distributed (as mining rewards) at a limited and constantly decreasing rate, and once they have all been distributed, no new coins will ever exist. However, this will not be the end of Bitcoin, because the initial distribution of new bitcoins is not the only reward for mining: miners also collect transaction fees. Although transaction fees currently only make up a small fraction of the total mining reward, this will change as Bitcoin becomes more popular, since more transactions means more total fees (assuming the fee per transaction stays the same).

The number of coins in circulation (as opposed to the total number in existence) will slowly decrease over time as people accidentally lose them, however it is virtually impossible for all the bitcoins to disappear (since that would require that everyone loses everything), and because Bitcoins are divisible the economy can continue to function normally even if only a single bitcoin, or a fraction of one, remains.

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May 21, 2012, 04:20:56 AM
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If it were still a GPU only game, the block split would most likely have increased the price.

But consider all the energy efficient FPGAs that will be online in 6 months, especially the MiniRigs, and the exiting of some GPU miners.

This means the average price of electricity per Bitcoin mined will drop before the split.

I think we will see $3 before we see $10

EDIT: I do realize that there's also a lot of "Hopes and Wishes" that it will go up. And as much as we need rational discourse, the truth is this is a wild beast that cannot be tamed, and it will go wherever which way it wants  Wink

THIS.

A significant drop wouldn't surprise me, but it's indeed a 'wild beast.'

I'm not too concerned about the price as much as I am about increasing bitcoin's use as a currency for goods and services–––less exchanging for fiat and more buying and selling of actual stuff.
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