Topic: BTC hits 5,000 in 2014 - page 2. (Read 3071 times)
Do we really need another thread about whether bitcoin will reach $5000 in 2014?
Quote from: chuckscap link=topic=403474.msg4365202#msg4365202
3. Mining difficulty will increase, but unlike in the past year, ASIC technology will not keep up with the demand for new bitcoins. The new THs miners when they finally appear in late spring will be lucky to generate .5 BTC/day after a few months. I think the mining technology curve is flattening out which will only slow the increase of supply which will in turn drive bitcoin prices up.
Slow the increase of supply? I think you need to do a bit more research into how bitcoin works before i can take your predictive capabilities seriously, even though i agree with $5k and beyond.
A lot of speculation (particularly by old financiers) on the news about the bitcoin bubble. The fact that they are forced to talk about bitcoin at all clearly irks them lol. My prediction is bitcoin hits $5000 in 2014 for several reasons.
1. Bitcoin is really the only established cryptocurrency out there right now.
2. Demand will rise exponentially in 2014, but since the supply has a hard limit it will increase in value five fold
3. Mining difficulty will increase, but unlike in the past year, ASIC technology will not keep up with the demand for new bitcoins. The new THs miners when they finally appear in late spring will be lucky to generate .5 BTC/day after a few months. I think the mining technology curve is flattening out which will only slow the increase of supply which will in turn drive bitcoin prices up.
1. Bitcoin is really the only established cryptocurrency out there right now.
2. Demand will rise exponentially in 2014, but since the supply has a hard limit it will increase in value five fold
3. Mining difficulty will increase, but unlike in the past year, ASIC technology will not keep up with the demand for new bitcoins. The new THs miners when they finally appear in late spring will be lucky to generate .5 BTC/day after a few months. I think the mining technology curve is flattening out which will only slow the increase of supply which will in turn drive bitcoin prices up.
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