$10,000 by 2016 very likely | Bitcointalksearch.org

notme

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Quote from: jubalix on November 30, 2013, 04:27:46 PM

Quote from: notme on November 30, 2013, 03:24:38 PM

Quote from: jubalix on November 30, 2013, 03:18:40 PM

Quote from: notme on November 29, 2013, 08:34:05 AM

Quote from: jubalix on November 29, 2013, 03:42:43 AM

Quote from: mestar on November 28, 2013, 09:03:38 PM

Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?

Peercoin solves this issue

By replacing mining with proof-of-stake, only the votes of the wealthy nodes count.

I don't know about you, but I don't like to keep a lot of funds on a public mining node.

you dont have too keep all your funds there

How do you prove your stake without a private key?

if you have 100 coins, 10 on the mint address, 90 on a non mining address.

Perhaps I'm missing some detail of proof of stake, but doesn't it need 50% of coins to agree on the block? If everybody kept 9/10ths off their mining node, how would a block ever be created?

beetcoin

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retirement or bust! i will hold on for a while too.. but we are probably still years and years away from me reaching retirement level. i barely have any coins Cheesy

GriTBitS

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“A decentralized registry for unique assets”

Quote from: exstasie on November 30, 2013, 06:12:20 PM

Quote from: KFR on November 30, 2013, 02:57:10 PM

Quote from: JTrain_51 on November 30, 2013, 02:38:01 PM

Im sure that everyone in the bitcoin community will sell once it hits 10k tho...

That's precisely what people said about $1k. Yet there's plenty of us still holding. Wink

I'm going all in on this...only spent very little on BTC, and have made a significant profit so far...but since I really have no risk, i'm either going until its worth millions, or bust!

I agree! Go big or Go home! Also why sell, we own the worlds future wealth! The world fiat collapse is upon us. Every guru out there will be talking about how bitcoin is so incredible because of its hard limit and that its genius. The same fools that are saying its not backed by anything and has no intrinsic value! They need to quit looking at the dollar signs and realize even if it went to zero people would still be mining it and trading it amongst the community. All those financial gurus are sheep, throwing darts at a board.

exstasie

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Quote from: KFR on November 30, 2013, 02:57:10 PM

Quote from: JTrain_51 on November 30, 2013, 02:38:01 PM

Im sure that everyone in the bitcoin community will sell once it hits 10k tho...

That's precisely what people said about $1k. Yet there's plenty of us still holding. Wink

I'm going all in on this...only spent very little on BTC, and have made a significant profit so far...but since I really have no risk, i'm either going until its worth millions, or bust!

jubalix

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Activity: 2674

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Quote from: notme on November 30, 2013, 03:24:38 PM

Quote from: jubalix on November 30, 2013, 03:18:40 PM

Quote from: notme on November 29, 2013, 08:34:05 AM

Quote from: jubalix on November 29, 2013, 03:42:43 AM

Quote from: mestar on November 28, 2013, 09:03:38 PM

Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?

Peercoin solves this issue

By replacing mining with proof-of-stake, only the votes of the wealthy nodes count.

I don't know about you, but I don't like to keep a lot of funds on a public mining node.

you dont have too keep all your funds there

How do you prove your stake without a private key?

if you have 100 coins, 10 on the mint address, 90 on a non mining address.

cr1776

legendary

Activity: 4284

Merit: 1316

Quote from: KFR on November 30, 2013, 02:57:10 PM

Quote from: JTrain_51 on November 30, 2013, 02:38:01 PM

Im sure that everyone in the bitcoin community will sell once it hits 10k tho...

That's precisely what people said about $1k. Yet there's plenty of us still holding. Wink

And 10. And 1.

:-)

notme

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Activity: 1904

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Quote from: jubalix on November 30, 2013, 03:18:40 PM

Quote from: notme on November 29, 2013, 08:34:05 AM

Quote from: jubalix on November 29, 2013, 03:42:43 AM

Quote from: mestar on November 28, 2013, 09:03:38 PM

Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?

Peercoin solves this issue

By replacing mining with proof-of-stake, only the votes of the wealthy nodes count.

I don't know about you, but I don't like to keep a lot of funds on a public mining node.

you dont have too keep all your funds there

How do you prove your stake without a private key?

jubalix

legendary

Activity: 2674

Merit: 1029

Quote from: notme on November 29, 2013, 08:34:05 AM

Quote from: jubalix on November 29, 2013, 03:42:43 AM

Quote from: mestar on November 28, 2013, 09:03:38 PM

Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?

Peercoin solves this issue

By replacing mining with proof-of-stake, only the votes of the wealthy nodes count.

I don't know about you, but I don't like to keep a lot of funds on a public mining node.

you dont have too keep all your funds there

pand70

sr. member

Activity: 476

Merit: 250

Quote from: Elwar on November 30, 2013, 02:33:57 AM

Quote from: pand70 on November 29, 2013, 07:29:04 PM

10k by 2016 seems a pretty safe bet to me. I wonder how the op came up with the odds

I submitted the bet earlier in the year when we reached around $100/BTC.

Ok i didn't knew how your site works. Apparently there isn't any real odds making anyway Tongue

KFR

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Per ardua ad luna

Quote from: JTrain_51 on November 30, 2013, 02:38:01 PM

Im sure that everyone in the bitcoin community will sell once it hits 10k tho...

That's precisely what people said about $1k. Yet there's plenty of us still holding. Wink

JTrain_51

member

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Im sure that everyone in the bitcoin community will sell once it hits 10k thoy
so as soon as bitcoin goes up please don't get pissed if it drops once it hits 5k

BittBurger

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Quote from: piramida on November 30, 2013, 01:21:35 PM

OR it will get stuck at $1222 forever. Bitcoin found it's stable position. Whoever worried about it being volatile and unsuitable for commerce - well, go do your commerce now

Lets hope not

piramida

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Borsche

OR it will get stuck at $1222 forever. Bitcoin found it's stable position. Whoever worried about it being volatile and unsuitable for commerce - well, go do your commerce now

beetcoin

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it's either giong to be close to $0 or $10,000 by 2016 i'd say. there's no in between.

Elwar

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Viva Ut Vivas

Quote from: pand70 on November 29, 2013, 07:29:04 PM

10k by 2016 seems a pretty safe bet to me. I wonder how the op came up with the odds

I submitted the bet earlier in the year when we reached around $100/BTC.

I figured we were hitting a 10X price increase per year so I figured we would hit $1,000/BTC some time in 2014 and hopefully $10,000 some time in 2015. I added a year to hedge against a slow year.

The bet does not need to go until 2016 if we reach $10,000/BTC then the bet ends.

hope4me

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Quote from: ixne on November 29, 2013, 07:19:55 PM

Quote from: mestar on November 28, 2013, 09:03:38 PM

Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?

The bitcoin network is hashing about 100x more than the top 500 supercomputers combined. If miners aren't making enough to clear their electricity bills, we can afford to lose some hashing power.

This. Every miner has to decide if it is worth to mine. If not, shut your miner.

pand70

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10k by 2016 seems a pretty safe bet to me. I wonder how the op came up with the odds

ixne

full member

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Quote from: mestar on November 28, 2013, 09:03:38 PM

Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?

The bitcoin network is hashing about 100x more than the top 500 supercomputers combined. If miners aren't making enough to clear their electricity bills, we can afford to lose some hashing power.

mestar

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Activity: 407

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Quote from: ?? on ??

Quote from: mestar on November 28, 2013, 09:03:38 PM

Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?

The miners.

No, its the speculators who bought miners' coins on the exchange that actually end up paying for it.

philip2000uk

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Activity: 276

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Quote from: Elwar on November 28, 2013, 03:42:24 AM

1 Bitcoin will be worth at least $10,000 by 12/31/2016
Success of this bet will occur if 1 Bitcoin is valued at $10,000 or more on one of the largest exchanges of the time (based upon top 4 trading volumes/day).
The $10,000 is in Federal Reserve Notes (US dollars).

Info
Opening date: April 14, 2013
Bet deadline: Dec. 3, 2016 end of day Eastern Time
Event date: Dec. 31, 2016 end of day Eastern Time
Category: Economics
Total agree bets: 0.90
Total disagree bets: 0.90
Total weighted agree bets: 27663.920
Total weighted disagree bets: 28514.809

http://betsofbitco.in/item?id=1532

1 to 1 bet right now, put your bet in to double your bitcoins when it reaches $10k

WTF! I'm not waiting till 2016 to get my $155,000 more like 2015 for $155,000

notme

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Activity: 1904

Merit: 1002

Quote from: jubalix on November 29, 2013, 03:42:43 AM

Quote from: mestar on November 28, 2013, 09:03:38 PM

Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?

Peercoin solves this issue

By replacing mining with proof-of-stake, only the votes of the wealthy nodes count.

I don't know about you, but I don't like to keep a lot of funds on a public mining node.

jubalix

legendary

Activity: 2674

Merit: 1029

Quote from: mestar on November 28, 2013, 09:03:38 PM

Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?

Peercoin solves this issue

wobber

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Make it more interesting. Put it 2014

mestar

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Power usage of the whole network, it grows depending on the Bitcoin price.

Who pays for this power usage?

jballs

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Quote from: bitleif on November 28, 2013, 06:13:16 AM

Quote from: seanneko on November 28, 2013, 05:57:04 AM

Quote from: NUFCrichard on November 28, 2013, 05:01:59 AM

The way the market moves nowadays $10000 in 2014 doesn't seem impossible.
Imagine if a big name moves into Bitcoin, like Western Union or alike...

Considering we added $1000 to the price in just ONE MONTH, it's certainly possible to hit $10k next year. At the current rate of growth we could hit $14k by Dec 2014.

Extrapolating an exponential curve is pretty dangerous though.

Not as dangerous as shorting one. Wink

c0ldfusi0nz

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Last I heard, betsofbitco.in was run by LukeJr who is a well respected forum member and a core developer. You're not likely to find a more trustable bitcoin service. Feel free to correct me if I'm wrong.

byronbb

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HODL OR DIE

Quote from: TheD1ceMan on November 28, 2013, 12:43:04 PM

we will see 10k in 2014

This is very possible. We could be at the same stage as the first bubble. Can you buy 100m in btc? Not easily. Is it probable one person wishes to do so? 100% yes.

jubalix

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Quote from: bitleif on November 28, 2013, 06:13:16 AM

Quote from: seanneko on November 28, 2013, 05:57:04 AM

Quote from: NUFCrichard on November 28, 2013, 05:01:59 AM

The way the market moves nowadays $10000 in 2014 doesn't seem impossible.
Imagine if a big name moves into Bitcoin, like Western Union or alike...

Considering we added $1000 to the price in just ONE MONTH, it's certainly possible to hit $10k next year. At the current rate of growth we could hit $14k by Dec 2014.

Extrapolating an exponential curve is pretty dangerous though.

not on a log graph its not, having said that I think we should only be at $300 right now, $1k stable would be about may 2014

beetcoin

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Quote from: jerelimZ on November 28, 2013, 12:56:28 PM

No one betting?
It is safe bet except I would preffer escrow

i would bet but i don't know how trustable the site is. it's sitll the wild wild west right now, so not that safe of a bet.

romerun

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Bitcoin is new, makes sense to hodl.

Meh 10k that's for sure but 100k by the end of 16 this is interesting

jerelimZ

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No one betting?
It is safe bet except I would preffer escrow

TheD1ceMan

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we will see 10k in 2014

bqxpd

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Quote from: beetcoin on November 28, 2013, 05:47:13 AM

if a big name like western union jumped into the game, it would be funny because they'd probably fall fIat on their face. i think a lot of people would be against it since most of us here are anti establishment.

This is actually one of the inevitable psychological challenges faced by members of every subculture as their shared interest begins to go mainstream. If Bitcoin really has the broad utility we all think it does, it's only a matter of time before people and organizations most of us disapprove of begin benefiting mightily from "our" beloved cryptocurrency. That's going to feel particularly galling in the case of banks and other traditional money transmitters, but there's no avoiding it if broad adoption of Bitcoin really is in the cards.

Hawker

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Quote from: ?? on ??

Quote from: Hawker on November 28, 2013, 10:56:45 AM

Quote from: Gordonium on November 28, 2013, 10:41:56 AM

Will probably happen in 2014

Atlas you have been here since the beginning. How many Bitcoin do you have stashed away?

Atlas posted in the newbie section under another new name a few months ago. He said he gave up bitcoin and started meditating or some shit.

Sorry Gordonium.

And wow! He timed that well didn't he! Pity as I used enjoy his threads in the Politics forum.

Gordonium

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Quote from: Hawker on November 28, 2013, 10:56:45 AM

Quote from: Gordonium on November 28, 2013, 10:41:56 AM

Will probably happen in 2014

Atlas you have been here since the beginning. How many Bitcoin do you have stashed away?

I am not Atlas.

I_bitcoin

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Quote from: Gordonium on November 28, 2013, 10:41:56 AM

Will probably happen in 2014

+3.14159

It's the circle of life and it moves us all.

Sindelar1938

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Yep, very likely outcome

Hawker

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Quote from: Gordonium on November 28, 2013, 10:41:56 AM

Will probably happen in 2014

Atlas you have been here since the beginning. How many Bitcoin do you have stashed away?

Gordonium

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Will probably happen in 2014

seanneko

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Quote from: bitleif on November 28, 2013, 06:13:16 AM

Quote from: seanneko on November 28, 2013, 05:57:04 AM

Quote from: NUFCrichard on November 28, 2013, 05:01:59 AM

The way the market moves nowadays $10000 in 2014 doesn't seem impossible.
Imagine if a big name moves into Bitcoin, like Western Union or alike...

Considering we added $1000 to the price in just ONE MONTH, it's certainly possible to hit $10k next year. At the current rate of growth we could hit $14k by Dec 2014.

Extrapolating an exponential curve is pretty dangerous though.

Absolutely. Is it really an exponential curve though? I just zoomed out to a 12h chart and the November rally pretty much looks like a straight line on the linear chart.

bitleif

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I'm always grumpy in the morning.

Quote from: seanneko on November 28, 2013, 05:57:04 AM

Quote from: NUFCrichard on November 28, 2013, 05:01:59 AM

The way the market moves nowadays $10000 in 2014 doesn't seem impossible.
Imagine if a big name moves into Bitcoin, like Western Union or alike...

Considering we added $1000 to the price in just ONE MONTH, it's certainly possible to hit $10k next year. At the current rate of growth we could hit $14k by Dec 2014.

Extrapolating an exponential curve is pretty dangerous though.

seanneko

full member

Activity: 196

Merit: 100

Quote from: NUFCrichard on November 28, 2013, 05:01:59 AM

The way the market moves nowadays $10000 in 2014 doesn't seem impossible.
Imagine if a big name moves into Bitcoin, like Western Union or alike...

Considering we added $1000 to the price in just ONE MONTH, it's certainly possible to hit $10k next year. At the current rate of growth we could hit $14k by Dec 2014.

beetcoin

sr. member

Activity: 434

Merit: 250

Quote from: NUFCrichard on November 28, 2013, 05:01:59 AM

The way the market moves nowadays $10000 in 2014 doesn't seem impossible.
Imagine if a big name moves into Bitcoin, like Western Union or alike...

if a big name like western union jumped into the game, it would be funny because they'd probably fall fIat on their face. i think a lot of people would be against it since most of us here are anti establishment.

NUFCrichard

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The way the market moves nowadays $10000 in 2014 doesn't seem impossible.
Imagine if a big name moves into Bitcoin, like Western Union or alike...

eindbaas

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umad?

Quote from: panck4beer on November 28, 2013, 04:20:04 AM

The only thing Im afraid is if betsofbitco.in will be working in 3 years

Can this bet be resolved sonner than Dec. 31, 2016 ?

hello ausieoutlaw Cheesy

bitleif

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I'm always grumpy in the morning.

Does this include the chance of a hyperinflationary scenario in the USD by 2016? I don't view that as very likely, but possible.

panck4beer

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The only thing Im afraid is if betsofbitco.in will be working in 3 years

Can this bet be resolved sonner than Dec. 31, 2016 ?

beetcoin

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that looks like a good bet to me. high likely that it will reach $10,000.. at least more than 50% chance in my opinion.

so this is the futures market that i was asking for. i wonder if this has killed business for intrade.com?

Elwar

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Viva Ut Vivas

1 Bitcoin will be worth at least $10,000 by 12/31/2016
Success of this bet will occur if 1 Bitcoin is valued at $10,000 or more on one of the largest exchanges of the time (based upon top 4 trading volumes/day).
The $10,000 is in Federal Reserve Notes (US dollars).

Info
Opening date: April 14, 2013
Bet deadline: Dec. 3, 2016 end of day Eastern Time
Event date: Dec. 31, 2016 end of day Eastern Time
Category: Economics
Total agree bets: 0.90
Total disagree bets: 0.90
Total weighted agree bets: 27663.920
Total weighted disagree bets: 28514.809

http://betsofbitco.in/item?id=1532

1 to 1 bet right now, put your bet in to double your bitcoins when it reaches $10k

Topic: $10,000 by 2016 very likely (Read 5564 times)