4000$ bitcoins in 4 months - page 4.

Ivanhoe

hero member

Activity: 841

Merit: 1000

Quote from: redsn0w on July 05, 2015, 04:00:43 PM

Quote from: Lauda on July 05, 2015, 03:58:48 PM

I highly doubt that we are going to even come close to this. However, there is a slight possibility in case that something happens.
If Greece declares Bitcoin as its national currency then Bitcoin is going places. Although the odds aren't really in favor of this one.

It is impossible that a nation or government will declare bitcoin as its national currency, how they can control it? Only an anarchy can support bitcoin as currency not even a democracy.

Which is the strength of Bitcoin. Remember the power is with the people.

The separation between church and politics happened a while ago, it now is time for the separation between politics and money.

redsn0w

legendary

Activity: 1778

Merit: 1043

#Free market

Quote from: Lauda on July 05, 2015, 03:58:48 PM

I highly doubt that we are going to even come close to this. However, there is a slight possibility in case that something happens.
If Greece declares Bitcoin as its national currency then Bitcoin is going places. Although the odds aren't really in favor of this one.

It is impossible that a nation or government will declare bitcoin as its national currency, how they can control it? Only an anarchy can support bitcoin as currency not even a democracy.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

I highly doubt that we are going to even come close to this. However, there is a slight possibility in case that something happens.
If Greece declares Bitcoin as its national currency then Bitcoin is going places. Although the odds aren't really in favor of this one.

Quote from: redsn0w on July 05, 2015, 04:00:43 PM

It is impossible that a nation or government will declare bitcoin as its national currency, how they can control it? Only an anarchy can support bitcoin as currency not even a democracy.

Everything is possible. I never said that they would do it, nor that they could control it.

redsn0w

legendary

Activity: 1778

Merit: 1043

#Free market

Quote from: elux on July 05, 2015, 03:19:35 PM

Quote from: redsn0w on July 05, 2015, 03:07:04 PM

Are you serious? Or just another useless speculation of the price? Will you buy 1 btc for 4k dollars ? Oh sorry I forgot ... we are in the speculation forum section.

//sarcasm.

However, I will be happy if the price will raise to 500 dollars so I can dump al my coins XD (who wants 4k dollars per btc).

I think Bitcoin ("capital B") is overdue for being repriced to something like 35-100 Billion USD.

Working backwards to coin price implies around ~2500-7000 USD/BTC.

Have fun with your silly linear models. Wink

You said your opinion and I said my opinion, where is the problem Grin

? I didn't criticize anyone ... I criticized what he said. However thanks again for your opinion and have a great day.

Have fun you too with your silly linear models

.

Mellnik

sr. member

Activity: 242

Merit: 250

I suppose you bought at least 250 Bitcoin then? Because 250 BTC * $4000 = $1,000,000.

elux

legendary

Activity: 1458

Merit: 1006

Quote from: redsn0w on July 05, 2015, 03:07:04 PM

Are you serious? Or just another useless speculation of the price? Will you buy 1 btc for 4k dollars ? Oh sorry I forgot ... we are in the speculation forum section.

//sarcasm.

However, I will be happy if the price will raise to 500 dollars so I can dump al my coins XD (who wants 4k dollars per btc).

I think Bitcoin ("capital B") is overdue for being repriced to something like 35-100 Billion USD.

Working backwards to coin price implies around ~2500-7000 USD/BTC.

Have fun with your silly linear models. Wink

jonald_fyookball

legendary

Activity: 1302

Merit: 1008

Core dev leaves me neg feedback #abuse #political

Quote from: Hyena on July 05, 2015, 03:12:12 PM

Quote from: jonald_fyookball on July 05, 2015, 03:08:32 PM

logarithmic price charts lie to you about the real price action picture.

Does not matter in this context. We are in green for the 5th week in a row and bitcoin has seen 16x increase in value in the past. Extrapolate and you will get the same results as I did. Btw, non-logarithmic charts lie even more.

ok but you do realize we need more buying pressure to get to $4000 than we did to get to $1000.
we're talking multiple billions more in terms of the market cap which might mean tens of millions of dollars in trades. It will happen, but in four months?? don't know about that.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: Hyena on July 05, 2015, 02:59:54 PM

In the beginning of 2013 bitcoin traded at 15$ and went up to 250$ in the following 4 months. That's 16x rise! We are currently at 270$, 5 weeks green in a row, exactly as it was before the Cyprus crisis.

270*16 = 4320

I used similar logic to make an 'insane' projection in February '13 (EDIT: incidentally very close to the "we are here" hyena drew above):

Quote from: molecular on February 21, 2013, 01:17:32 PM

Quote from: Technomage on February 20, 2013, 05:55:57 AM

Quote from: zby on February 20, 2013, 05:06:31 AM

Assuming that the two boom patterns should be similar (i.e. the whole thing be a fractal) - then the second is still very far from the top, it still might grow maybe 10 times.

Exactly. In my opinion the current situation is at most a "small bubble", meaning that there can be a correction, but it's unlikely to be a deep one. To experience a "massive bubble" we would need to see the all time high broken and then panic buys from there. That is the point when it's smart to become skeptical.

there have been 3 "steps" in the 2011 runup to the bubble (from base of about $1):

the jump to $2
the jump to $4
the jump to $9

So the top of the current bubble is either 450, 225 or 100 depending what "jump" the current one is similar to.

I don't believe in this fractal stuff applying to markets somehow, though.

I clearly remember being ridiculed for putting such insanely high numbers, but I can't find the posts. Maybe deleted in shame.

So I'm with you, hyena, and we'll laugh last Wink

Hyena

legendary

Activity: 2114

Merit: 1015

Quote from: jonald_fyookball on July 05, 2015, 03:08:32 PM

logarithmic price charts lie to you about the real price action picture.

Does not matter in this context. We are in green for the 5th week in a row and bitcoin has seen 16x increase in value in the past. Extrapolate and you will get the same results as I did. Btw, non-logarithmic charts lie even more.

jonald_fyookball

legendary

Activity: 1302

Merit: 1008

Core dev leaves me neg feedback #abuse #political

logarithmic price charts lie to you about the real price action picture.

redsn0w

legendary

Activity: 1778

Merit: 1043

#Free market

Quote from: Hyena on July 05, 2015, 02:59:54 PM

In the beginning of 2013 bitcoin traded at 15$ and went up to 250$ in the following 4 months. That's 16x rise! We are currently at 270$, 5 weeks green in a row, exactly as it was before the Cyprus crisis.

270*16 = 4320

Are you serious? Or just another useless speculation of the price? Will you buy 1 btc for 4k dollars ? Oh sorry I forgot ... we are in the speculation forum section.

//sarcasm.

However, I will be happy if the price will raise to 500 dollars so I can dump al my coins XD (who wants 4k dollars per btc).

Hyena

legendary

Activity: 2114

Merit: 1015

In the beginning of 2013 bitcoin traded at 15$ and went up to 250$ in the following 4 months. That's 16x rise! We are currently at 270$, 5 weeks green in a row, exactly as it was before the Cyprus crisis.

270*16 = 4320

Topic: 4000$ bitcoins in 4 months - page 4. (Read 4820 times)