Febo
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December 25, 2014, 01:17:37 PM |
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I see quite a few posts of people predicting that btc will reach 2k this year, I just wondered what your reasonings for it were?
When gox fell completely I expected the price to go back up, but it seems to have just stalled around the 300 mark even after their dimise.
I am just wondering with all the other coins now out there, why do you think it will go straight back up and to 2k or beyond?
Mostly people speculate on past events. History of Bitcoin and history of Human economy. |
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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1Referee
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December 25, 2014, 03:13:06 PM |
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I see quite a few posts of people predicting that btc will reach 2k this year, I just wondered what your reasonings for it were?
When gox fell completely I expected the price to go back up, but it seems to have just stalled around the 300 mark even after their dimise.
I am just wondering with all the other coins now out there, why do you think it will go straight back up and to 2k or beyond?
Mostly people speculate on past events. History of Bitcoin and history of Human economy. People live inside their own world. They seem to ignore the part where realilty and fantasy are two completely different things. When you just take the time and review the market, you will know that $2K is not reasonable and won't happen in 2015. |
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TYT
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December 25, 2014, 03:19:57 PM |
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I see quite a few posts of people predicting that btc will reach 2k this year, I just wondered what your reasonings for it were?
I am just wondering with all the other coins now out there, why do you think it will go straight back up and to 2k or beyond?
What are peoples reasonings for making such a prediction? Simple. They want it to go to that price. Will it? Not for a while. Keep promoting bitcoin and the bigger it gets so will hopefully the price. |
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vssa
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December 25, 2014, 04:11:17 PM |
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To hit 2k it's not easy
Maybe with few big companies accept BTC & less country ban bitcoin it's possible
I think that will happen in 2016
The title is bitcoin value and you all just talking about the price (more ridiculously in USD). Bitcoins price the unit I mean is just a 1/3 of bitcoins value as I see it, the other 2/3 is blockchain technology and bitcoin the network. As you can see blockchain technology is growing in price (or as you say in value, USD .btw I hope you are not measuring all values in USD). The ration between the bitcoin market cap and alt coins market cap is less then it was 1-2 years ago ,see coinmarketcap.com. The bitcoin network has just grown exponentially in the last year or so (see google search results and network hash rate. So basically without going into details bitcoin value is priced in 2/3 less then it is actually trading now. One year ago bitcoin price was around 1000$-800$ now it it at 350$. So the fair price of bitcoin right now is around 900$-1100$ now how many new adopters of bitcoin will come if this was the reality right now? I think around X3-X10 more so bitcoin at 3k to 10k is a very realistic target price for the next year or two. |
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NotLambchop
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December 25, 2014, 04:28:49 PM |
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As you can see blockchain technology is growing in price
Blockchain technology is not growing in price any more than TCP/IP technology is growing in price. It is free. (or as you say in value, USD .btw I hope you are not measuring all values in USD).
Teh USD is the defacto money of international commerce.  |
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vssa
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December 25, 2014, 05:00:55 PM |
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...
As you can see blockchain technology is growing in price
Blockchain technology is not growing in price any more than TCP/IP technology is growing in price. It is free. Ok
(or as you say in value, USD .btw I hope you are not measuring all values in USD).
Teh USD is the defacto money of international commerce. Teh gold is the defacto money of international commerce. Teh Bitcoin is the defacto free money of the Internet. or what do you think that just because 99% of the population think the same that makes it a truth. |
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NotLambchop
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December 25, 2014, 05:19:29 PM |
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...
or what do you think that just because 99% of the population think the same that makes it a truth.
Learn what "defacto" means before typing  |
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vssa
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December 25, 2014, 05:43:06 PM |
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...
or what do you think that just because 99% of the population think the same that makes it a truth.
Learn what "defacto" means before typing Definitions of de facto adverb in fact, or in effect, whether by right or not. "the island has been de facto divided into two countries" synonyms: in practice, in effect, in fact, in reality, really, actually adjective denoting someone or something that is such in fact. "a de facto one-party system" synonyms: actual, real, effective  |
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picolo
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December 25, 2014, 05:50:11 PM |
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As you can see blockchain technology is growing in price
Blockchain technology is not growing in price any more than TCP/IP technology is growing in price. It is free. (or as you say in value, USD .btw I hope you are not measuring all values in USD).
Teh USD is the defacto money of international commerce. The percentage of international transactions labelled in USD is going down overtime and I am very bearish for USD. |
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NotLambchop
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December 25, 2014, 05:57:46 PM |
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... and I am very bearish for USD.
That's why you are poor: The USD value has at least doubled rel. BTC over the past year. Learn to make better calls. Get good, bro  @vssa: Continue learning, I'm rootin' 4 u! |
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picolo
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December 25, 2014, 06:10:54 PM |
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... and I am very bearish for USD.
That's why you are poor: The USD value has at least doubled rel. BTC over the past year. Learn to make better calls. Get good, bro @vssa: Continue learning, I'm rootin' 4 u! Selling Bitcoin a year ago and buying some now was a good trade but holding Dollars now seem very risky when the fed and banks are likely to create a lot of them and the use of dollar is likely to go down. |
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NotLambchop
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December 25, 2014, 06:22:03 PM |
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... but holding Dollars now seem very risky...
Bro, over the past year the dollar has lost less buying power than BTC has over the past 24hrs. Learn life. |
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opossum
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December 25, 2014, 08:36:34 PM |
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I see quite a few posts of people predicting that btc will reach 2k this year, I just wondered what your reasonings for it were?
I am just wondering with all the other coins now out there, why do you think it will go straight back up and to 2k or beyond?
What are peoples reasonings for making such a prediction? Simple. They want it to go to that price. Will it? Not for a while. Keep promoting bitcoin and the bigger it gets so will hopefully the price. They are also making such predictions because we have seen similarly sized (in terms of percentage gains) gains in the past. Despite the fact that the difference between the high and the low price of bitcoin is a 70% difference, 2014 has been one of the least volatile years for the price that bitcoin has ever seen |
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Febo
Legendary
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Activity: 2730
Merit: 1288
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December 26, 2014, 06:08:40 PM |
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I see quite a few posts of people predicting that btc will reach 2k this year, I just wondered what your reasonings for it were?
When gox fell completely I expected the price to go back up, but it seems to have just stalled around the 300 mark even after their dimise.
I am just wondering with all the other coins now out there, why do you think it will go straight back up and to 2k or beyond?
Mostly people speculate on past events. History of Bitcoin and history of Human economy. People live inside their own world. They seem to ignore the part where realilty and fantasy are two completely different things. When you just take the time and review the market, you will know that $2K is not reasonable and won't happen in 2015. I dont have such skills as other do have. So i just cant do it by myself. I think many people does. And so they buy and sell it at price that it is out there now. |
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botany
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December 27, 2014, 11:36:55 AM |
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A lot of people expect the next halving to have a substantial impact on bitcoin's price.
Hopefully, we see a bull run by then.
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picolo
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December 27, 2014, 05:38:45 PM |
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... but holding Dollars now seem very risky...
Bro, over the past year the dollar has lost less buying power than BTC has over the past 24hrs. Learn life. Keeping Dollar instead of Bitcoin was a good trade this year but long term I don't think it will. Rich people have their wealth in assets not fiat. |
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Tstar
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December 27, 2014, 05:54:55 PM |
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i think it will take a long time to see the price mark of 2K atleast we won't able to see this price in 2015
the max we can hope for 2015 is 800-850$ again, and i will happy with that price
about 2K price it can happen at next block reward halving
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scarsbergholden
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December 27, 2014, 08:16:01 PM |
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... but holding Dollars now seem very risky...
Bro, over the past year the dollar has lost less buying power than BTC has over the past 24hrs. Learn life. Keeping Dollar instead of Bitcoin was a good trade this year but long term I don't think it will. Rich people have their wealth in assets not fiat. You need to look at a much longer time frame then just one year when determining how good of an investment something is/was. Looking at a one year ROI is an arbitrary short time frame. If you were to double that and look at a 2 year ROI you will see that someone who purchased bitcoin this time in 2012 would have grown their money by ~30x while the value of their dollar would have been roughly the same (there was very low inflation over the past 2 years) |
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picolo
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December 27, 2014, 08:24:06 PM |
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i think it will take a long time to see the price mark of 2K atleast we won't able to see this price in 2015
the max we can hope for 2015 is 800-850$ again, and i will happy with that price
about 2K price it can happen at next block reward halving
2K is lot more than 320$ but if bitcoin holders and miners sell less and we have more buyers we will go to this price fast. |
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NotLambchop
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December 27, 2014, 08:28:44 PM |
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... but holding Dollars now seem very risky...
Bro, over the past year the dollar has lost less buying power than BTC has over the past 24hrs. Learn life. Keeping Dollar instead of Bitcoin was a good trade this year but long term I don't think it will. Rich people have their wealth in assets not fiat. You need to look at a much longer time frame then just one year when determining how good of an investment something is/was. Looking at a one year ROI is an arbitrary short time frame. If you were to double that and look at a 2 year ROI you will see that someone who purchased bitcoin this time in 2012 would have grown their money by ~30x while the value of their dollar would have been roughly the same (there was very low inflation over the past 2 years) A year timeframe is far from "arbitrary." 37 days would be arbitrary. 2 years would be arbitrary, A year is a natural. A year is also far from "short" for Bitcoin--Bitcoin's entire history is 5 years, 3 of which were spent in single-digit obscurity. But hey, if Bitcoin is going to be huge in 9009, I think I'll pass on it for the time being. On a more positive note, Bitcoin's been getting some recognition lately. What was it, "The worst investment of 2014"? |
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