Topic: Bitcoin Price Predictions - page 2. (Read 8349 times)

How much would you be willing to send in cash?

Wanna buy bitcoins ? Come to miners like me directly.

I couldn't agree with this more. I feel like getting my initial money into bitcoins is super obnoxious. Im not sure how comfortable i feel with scanning in my passport or drivers license to some of these places to get "verified."

Let me know when you find such luck, since im going through the same thing.

Man with your predictions I really wish I had got in when it was like $5 for 10,000 bitcoins lol

As a newbie to Bitcoins the thing I find most frustrating is finding out where to buy. Yes I know there are exchanges Mt Gox, Tradehill ... However I went to buy from Mt Gox (buying from Australia) only to find out their Australian bank account was closed pending fraud allegations. I went over to Tradehill to purchase only to find a few paragraphs on how Australian authorities want full verification (100 point ID) to withdraw funds.

Does anyone know where I can reliably purchase Bitcoins without going through red-tape, or paying exorbitant bank fees?

I'm willing to purchase via PayPal, MoneyBookers, Western Union, Australian bank transfer, or Cash.

Without new buyers for Bitcoins prices are doomed.

Thanks for bumping the thread guys. Now I can laugh at OP.

I see the current prices sticking around for a while. I don't think we've bottomed out just yet but almost.

I can think of two things applying upward pressure on the price:
1. Speculation. This has probably been decreasing and will continue to decrease as the price stays stagnant. But there are still a lot of people holding out for that glorious (fantasy) day in which they get to bask in great wealth when the price goes up to a gazillion. Over time they will bleed off.
2. Commerce. There's a real economy to bitcoin. In order to do business with the coin, you have to hold some amount of it. This is the one that's supposed to grow to make #1 rich. However, this is also the one that will not grow because of #1 -- how many merchants want to price their stuff in bitcoins only to have the value double or halve overnight and all their goods are mispriced? Not going to happen until #1 mentality goes away. I don't think #1 mentality is going to go away so long as the design of bitcoin is to have a fixed number of coins.

Downward pressure:
1. miners. I'm guessing this is pretty much constant, but I don't know for sure.
2. Speculators throwing up their hands. You would expect this to happen slowly over time, as people gradually get tired of waiting for that glorious day. I think this explains the gradual decrease.

My prediction is flat to slightly negative for a while, unless either (1) bitcoin devs decide to remove the 18 million coin cap (not likely), in which case bitcoin would take off but it's hard to say what would happen to the price, or (2) a competing currency pops up that solves the speculation problem, in which case a dramatic flight from bitcoin is possible.

All this to say.. be very careful if you're going long bitcoin in order to make a profit..

I think there is nothing to keep it going up, very little demand, mostly speculation, and somewhere around 3 USD should be just slightly above the cost of electricity and the depreciation of hardware even for those with cheap electricity.

What are you basing your forecast on?

So true. But then again, I wish that would never happen.

Price between 4 and 5 dolars per BTC wil stay for some time (let's say few weeks), then it will go down and at the end of this yera it will be around 3 dolars per BTC

You can now guess the future with this app: http://www.spaculator.com/

The benefit is a graph of speculated future values by all players.

July - $13
Aug - $15
Sep - $12
Oct - $10
Nov - $11
Dec - $14

I don't think the bitcoin/$ rate will increase this year. We will see some increases due to new users and we will see decreases due to regulation tries from the local goverments.

This was rerun today in the US:  http://tech.fortune.cnn.com/tag/bitcoin/

After this price correction ends, I think we'll see it up at least to $20 again. Might be a slow climb from there, at least I hope so. Speculation almost killed Bitcoin over this summer : (

did u mean to say when will the BTC per block drop from 50 BTC per block to 25 BTC per block?  In that case, yes, according to current rates, sometime in 2012.  But BTC price as of now is ~14 USD per BTC. Not 50 nor even near 25.

Once the current consolidation ends with the initial breakout about  a crucial level, the rally will resume to much higher levels.
Clear breakout level signals are communicated timely in the subscription service.

Impossible to say of course but things I'm thinking about:

How much selling is miners, and how much is bitcoin millionaires slowly cashing out?
My guess: mostly miners.

When does the payout reduce to $25 from $50?
From what I understand, late 2012.

Will the US or other government go after bitcoin, dwolla, mtgox?
(temporarily bearish, but I would consider buying opportunity)

Will there be a well publicized heinous violent crime ("perfect crime") involving bitcoin such as a kidnapping, hostage situation, or ransom like someone threatening to kill kittens on youtube unless someone sends him bitcoin?
Unlikely in my view, because bitcoin is only nymous and even with tor a determined state adversary has a good way of finding your identity. But possible -- also perhaps as a black ops / false flag operation. Bearish at any rate.

Will bitcoin get easier to use on mobile phones?
Bullish.

yup totally agree for the most part, but maybe 20-25 by 2012.  My main question becomes how much devaluation do you see coming in USD/EURO?  How about them apples?