5k before year end 2015

[Q7]

While I still put high hopes on bitcoin price recovering towards the second half of the year, I'll be moderate on this one. 500 maybe is a more likely scenario.

[sgbett]

Thats the great thing about this bet. All the moderate bulls stand to profit handsomely.

Only the batshit insane have a chance of losing... don't they?

[azguard]

Sometimes i think that we all want to see price go so high so we can all have some peace and quite.
But for 5k to happen this is .... dunno but it will take a lot of time.

[sgbett]

Sometimes i think that we all want to see price go so high so we can all have some peace and quite.
But for 5k to happen this is .... dunno but it will take a lot of time.

The problem is I don't think we'll get peace and quiet we'll have an equal number of bulltards, absolutely convinced that the next bubble isn't a bubble and will never ever end, and selling their own children into slavery to buy at the top.

Not to mention all the "told you so" posts :/

[andy35]

I'm looking forward to writing bullish told you so posts at 5k

[Mobius]

I think $5K is pretty optimistic. So I might hedge my bets, just in case

[BitCoinNutJob]

5k cents maybe

free money up for grabs for anyone who has the balls to bet against it.

[azguard]

Sometimes i think that we all want to see price go so high so we can all have some peace and quite.
But for 5k to happen this is .... dunno but it will take a lot of time.

The problem is I don't think we'll get peace and quiet we'll have an equal number of bulltards, absolutely convinced that the next bubble isn't a bubble and will never ever end, and selling their own children into slavery to buy at the top.

Not to mention all the "told you so" posts :/

We can only think and predict and say it will be like this or that.
Bottom line is price is low we all want better price someone 500$ and someone 5000$.

[Cluster2k]

It's an easy, safe bet.  No will win.  Problem is, do you trust the site to survive until 2016 and actually pay out?  I've placed winning bets on another site before and was lucky to get paid out before, months later, the site did what bitcoin sites do best: disappear with everyone's money.

[WeGotCactus]

Why would any bull take this bet?

Place 1 BTC bet on Bitbet, get paid out 3.88 BTC if you are right and BTC passes a value of $5000.
Place 1 BTC bet on the order book, get paid 25BTC if you are right.

People are stupid.

[Equus]

Why would any bull take this bet?

Place 1 BTC bet on Bitbet, get paid out 3.88 BTC if you are right and BTC passes a value of $5000.
Place 1 BTC bet on the order book, get paid 25BTC if you are right.

People are stupid.

Wait, what?

I bet $5 worth of bitcoin on yes, and if I am right then my wager is worth $100 and the payout is worth $388.
If I buy the bitcoin, but don't place the bet then I get $100 worth of 5k bitcoin.
If the bet fails I am out 5$.

What am I missing?

[LFC_Bitcoin]

Don't place long term bets on bull shit gambling sites.

Just HODL.

[tvbcof]

While annoying, troll idiots like nilneh and tvbcof are helpful signals in and of themselves as to bottoms. What would we do without them? 

Just because I pointed out that cypherdoc and everyone who listened to cypherdoc lost 75% of their wealth in 2014 I'm somehow on the guy's shit-list.

I guess maybe my pointing out that I shifted some of my position into other assets at the end of 2013 and mentioned I was doing so sort of rubs salt in his wound.  Who knows?

[Warren Buffert]

More brilliant advice from sgbett, I see.

Most likely outcome is that you place a bet, and even if you're right in the outcome, you'll still lose because bitbet won't honor it and will run off with the money.

Are we still on track to hit $560,000 this year?  

[okthen]

Using "The Winkdex"?
That's suspicious, who uses that...?

sgbett, you're friends with the Winkevoss brothers and this bet is totally rigged.
Sneaky Hobbitses

</conspiracy>

[azguard]

Why would any bull take this bet?

Place 1 BTC bet on Bitbet, get paid out 3.88 BTC if you are right and BTC passes a value of $5000.
Place 1 BTC bet on the order book, get paid 25BTC if you are right.

People are stupid.

Wait, what?

I bet $5 worth of bitcoin on yes, and if I am right then my wager is worth $100 and the payout is worth $388.
If I buy the bitcoin, but don't place the bet then I get $100 worth of 5k bitcoin.
If the bet fails I am out 5$.

What am I missing?

your 5$ right.
you will give it to someone else

[NotHatinJustTrollin]

If I think that BTC price is gonna be a lot lower by the end of 2015, what's the point of making a bet in BTC if that will be worth a lot less in the end if I win anyway?

Im pimping my bet. Isn't it obvious?

Bitcoin is gamble, but gambling sites are worse.
They profit (1%) from retards. Great business. Lots of morons in the bitcoin community.

Gambling sites like bitstamp, Huobi, BTC-e, OKCOIN etc?

edit: how could I forget bitfinex!!!? the leveraged one!

There's a  small part of me that wishes bitfinex was a rogue  exchange that instead of running away with bitcoins would run away with cash from short sale gains.

Haha, that would be a huge irony!

Re your earlier comment re troll idiots. Agree, the proliferation of new accounts and increasing rate of postings is a useful indicator.

It's a hella useful indicator. At every botto,  they show up in droves. Just check their conten,  look up the account date and you get a good feel for what's going on. It's the proverbial  "shoot yourself in the foot".

To be honest I have the impression that the only ones posting ACTUAL ARGUMENTS are what you call the "bear trolls", while permabulls just never respond to the concerns and points raised.
Oh, and forgot to say that they are always wrong about what the price is doing, while the "trolls" are right almost all the time.

But sure, "trolls".

Im pimping my bet. Isn't it obvious?

Bitcoin is gamble, but gambling sites are worse.
They profit (1%) from retards. Great business. Lots of morons in the bitcoin community.

Gambling sites like bitstamp, Huobi, BTC-e, OKCOIN etc?

edit: how could I forget bitfinex!!!? the leveraged one!

Ehm, Huobi, OKcoin and BTC-E have leveraged margin trading too by the way.

[flipstyle]

'Oh look ma', another scam site!'

That's actually a semi-brilliant scam, though.  Odds are a ton of bitcoiners (many whom are in this very thread) who were already loose with their money will just toss this site a crapload of their stack just because the bet is so wildly ridiculously favorable.  

Then POOF.  The domain suddenly hyperlinks to a '404 not found' page come December.  Then the complaint threads start.  'I WANT MUH MUNEE BACK I NEVER SEEN THIS COMING U LYIN SACK OF S**T!!'

[sgbett]

Love or hate MP he's smart enough to know not to kill the golden goose. Bitbet takes 1% of everything win or lose. Of all the scummy unregulated bitcoin sites there are this is probably one of the less scummy imho.

I never use the winkdex, but I like those winklevoss brothers they seem like fun guys. So in a roundabout way this bet promotes there site.

Also there is allegedly an ETF coming, perhaps the winkdex will end up being more important than everyone thinks!

[Notanon]

$5k is a tad optimistic, but stranger things have happened in Bitcoinland. Not sure if I'm willing to place a bet on it happening, though.