Topic: $500,000 per Bitcoin, baby. The math behind it. - page 4. (Read 23674 times)

There is really suggestive question here. We have many years to see what will happen about bitcoin but to my mind there is no doubt that mostly bitcoin's price will grow and grow, people's interest increases, bitcoin is limited supply and many people means price of that supply will grow. We can say this for example: If we have 2 bottle of whiskey and only 1-2 people are interested with this, we will try to sell it cheaply but if 20 people wants that one whiskey bottle, there is big competition and this automatically means that we will sell whiskey in higher price because whiskey is one but 20 people wishes to buy, so higher bet wins here. Hope everyone understand what I wanted to say.

As a loyal user, I'm also realistic. I think there may be a price of $500.000 is achieved, the main thing that has to be resolved is the issue of speed of the transaction. many users complain that the transaction is bitcoin became slow and need more than 50,000 confirmations.

I'm not sure the price of $500.000 will be reached. Maybe before the price $10.000, bitcoin already disappear. The main reason because of a coin which replaced the coins and also any coin better than bitcoin. Maybe a lot of people believe the price continues to rise, but not significantly and it took a long time.

Well, it is undoubted that achieving such an amazing price would be the realization of our most cherished dreams, but it is not so easy as your calculations shows. There is no way to guarantee that the bitcoin will hold its current hegemony in the future, or even we could see new and amazing digital options in those days to carry out our financial transactions.

25% of blackmarket transactions in Bitcoin is the most likely scenario to actually happen from this graphic.
Illuminati puppetmasters would never let a currency they didn't create replace reserve currency.

In image (i like image).



https://ybitcoin.com/articles/bitcoin-as-an-investment/






https://bitcointalksearch.org/topic/interesting-chart-price-per-bitcoin-vs-bitcoin-market-cap-1119926

Does people sell their coins seeing FUD threads in bitcointalk ? people do get panic when some major news sites write some trash and it might boil over and affect the price of the coin as we have seen most of the time .
I like the math behind the speculation ,there is nothing wrong in dreaming big  .

I think that each of us has the ability to come up with his/her own assessment of the possibilities of bitcoin and the probabilities that it may reach certain price points within certain price periods.

Furthermore, those projections about what is probable and/or realistic are going to be tweaked over time and the probabilities change after the happening of events (whether those events were unknowns or anticipated).

Sometimes, also, I get a little bit irritated by math projections and also sometimes the level of certainty that might be attributed to the future happening of certain events - and yeah, merely because you assign a lower probability of an event occurring than someone else does not mean that the you might end up being wrong, even though you may have had the better argument based on the totality of the then known facts.

For example, through most of 2015, with BTC prices largely staying in the $200s, it would have seemed a bit improbable to predict price movements as we had experienced them ($500 in November 2015, $780 in June 2016, $1,100 in January 2017).  In fact going from the $200s to $1,100s in about 14 months would seem kind of improbable.. even thogh it happened those become our new sets of circumstances in which we can project future possibilities - and for example, how likely we consider going back down to below $600 can be equally an interesting question as how likely it is that we will go above $5k - and in what time line? and how much volatility are we going to face if such outcomes were to play out?

Actually I am glad that someone necroed this thread from the oblivion. I am not entirely sure if math behind the numbers in these calculations is correct
But it is a great reminder for people of what bitcoin could become when people will trust it instead of crying and believe in every FUD they hear.
Another thing is slow progress of adoption, after 2013 there were many predictions (Tim Draper and others) which presented us great future.
I am not saying that this future won't come, but at this point it seems that be further along the way everyone expected it to be - $10.000 in 2018 seems highly unlikely.

Now you see this is what I'm talking about, people bought years ago and even 6 months ago are in significantly huge profit, and I know that one year from now when price is well above $2600 people if buying now will profit then.
These kind of stories that are good for moral in community, stories that are undeniable even for the most of the skeptics.

farting shot was just another alt account by kwukduck or that other idiot that doesn't stop spamming the speculation section with FUD with what appears to be automated messages.

Notice how they always disappear when the price rallies, and they use every small correction to try to trick noobs into panic selling. Very sad indeed.

This is so much fun to look back what people were saying. And to this day all the people that were not very optimistic about Bitcoin price were all wrong !

I started buying bitcoin in late 2013 in small increments (a kind of personally tailored dollar cost averaging), and I kept buying on the way down thinking that I was getting a better and better deal.

In late 2014, when prices were in the upper $300s, I thought that it had pretty much bottom out, and I bought a decent additional stash.

So throughout 2015 when prices stayed in the $200s, I engaged in a considerable debate with more than one "know-it-all" who was convinced that BTC would never again go above upper $200s, and strongly advising that I sell in order to recoupe some of my principle.... at that point, my average price per BTC was a bit over $500, and I said that I did not need to sell, and I think that it would be crazy to sell at a loss (and lock in losses).  I said that I would hold through it and just continue with my practice of buying on the way down.

So yeah, those were tough times, and us HODLers had to stick through a considerable period of depressed prices, but it seems to have paid off quite well.  Currently, my average cost per BTC is a bit over $400, so my portfolio is doing quite well and even measure profits of more than 150% - which is much more than my expectations of good performance of about 6% per year (which was what my stock index funds had returned on average over the previous 15 years).  Anyhow, better than 50% per year (on average) with bitcoin remains a decent place to be (and quite a bit of cushion) and even a bit of an ability to make fun of the naysayers.      

Fees are set by economic and time considerations by the users of the network.

I think this explains everything you would ever want to know about fees, and more:

http://fc15.ifca.ai/preproceedings/bitcoin/paper_8.pdf

Look at the chart on page 9, it shows how the amount of fees paid by the users have changed over time.

This is not a trivial subject as you can see by reading the paper.

is it banned?

No ... i didn't know ... so explain more ......
Who will reduced it ? Is btc network intelligent ? I don't think so .........
I am paying 10000 satoshi fee for years .... when the price was $1115 till today that price is $220

march 2016 its the only possible gap for BTC to rise after christmas buyings and thats only to 300$ most now down to 200$

wow this is great thing and interesting.. this motivate us bitcoin users.. hope it will be really true in the future.. i will be looking forward to this... even i am old in that  time..