come back to this post and see if i am wrong

WinBitcoins.Casino

copper member

Activity: 39

Merit: 0

New! WinBitcoins.casino

Quote from: 7iain7 on July 05, 2011, 10:28:41 AM

I believe bitcoins will ladder all the way down to about $4 or roughly the amount electricity used to create 1BTC.
I think this will take only a few days now no more 5
which imo is not a bad thing.
Let the debate begin...

3500 USD is what it takes to mine a bitcoins (make it). 4 USD is just NOT possible my dear. Bitcoin might go to 26k and bounce back up to go all time highs!

_sau_mon

brand new

Activity: 0

Merit: 0

Quote from: 7iain7 on July 05, 2011, 10:28:41 AM

I believe bitcoins will ladder all the way down to about $4 or roughly the amount electricity used to create 1BTC.
I think this will take only a few days now no more 5
which imo is not a bad thing.
Let the debate begin...

I think you are right and some correction will happen. But just for the record new ATH from yesterday is 34 771 USD (kraken).
Rigs and electricity bills are probably also bit different nowadays so ... who the heck knows right?

AndrewWilliams

full member

Activity: 182

Merit: 100

Fourth richest fictional character

Quote from: nobbynobbynoob on November 05, 2013, 08:45:48 PM

Lightning never strikes twice, right? Grin

OK, so Max Keiser set "tree fiddy" as a short-term "interim target" and recently tweeted a prediction of $2 per mBTC by the end of 2014.

I was thinking at least 40c per mBTC ($400/BTC) by the middle of 2014, but given "Plunder Woman"'s nomination as the new chairperson of the Fraudulent Reserve, and her likely desire to run the printing press even hotter than did Helicopter Ben, I'll say 60c per mBTC by June/July 2014, weighted across the major exchanges.

Don't put too much faith into my prognoses though. Grin

Thanks for the tip.

I think $600/BTC is a little bullish, but Bitcoin has impressed even the most conservative analyst.

It's not unlikely that widespread adoption will be happening sometime in 2014, creating pressure on the price to go above $500/BTC.

secondopinion

newbie

Activity: 15

Merit: 0

wow i just realized this was made two years ago im sorry. LOL it wasnt a recent post.

secondopinion

newbie

Activity: 15

Merit: 0

false that is not goin to happen, are you kidding me? no way jose. bitcoins will increase, decrease, increase continously.

Deal with it.

Also i have to tell you that the more bitcoins people have the more the price will rise , but honestly we are so far away from that. who knows what will happen, no need to go and stir up controversy in the forum.

But then again maybe this is what the forum needs, some controversy to live it up.

nobbynobbynoob

hero member

Activity: 784

Merit: 1000

Annuit cœptis humanae libertas

Quote from: exstasie on November 05, 2013, 08:40:59 PM

Quote from: btcton on November 05, 2013, 08:31:47 PM

I don't usually like other people reviving old threads, but darn...

+1 haha. So true! Always great to go back though for this exact purpose.
nobbynobbynoob, do you have any predictions for next year? Huh

Lightning never strikes twice, right? Grin

OK, so Max Keiser set "tree fiddy" as a short-term "interim target" and recently tweeted a prediction of $2 per mBTC by the end of 2014.

I was thinking at least 40c per mBTC ($400/BTC) by the middle of 2014, but given "Plunder Woman"'s nomination as the new chairperson of the Fraudulent Reserve, and her likely desire to run the printing press even hotter than did Helicopter Ben, I'll say 60c per mBTC by June/July 2014, weighted across the major exchanges.

Don't put too much faith into my prognoses though. Grin

nobbynobbynoob

hero member

Activity: 784

Merit: 1000

Annuit cœptis humanae libertas

Quote from: btcton on November 05, 2013, 08:31:47 PM

I don't usually like other people reviving old threads, but darn...

Of course, I plucked the $254 figure out of certain orifices based on the erroneous price of $2,54 I quoted for the November 2011 trough. Had I correctly identified it as $1,99 I would have said $199 though and similar would have applied. Grin

exstasie

legendary

Activity: 1806

Merit: 1521

Quote from: btcton on November 05, 2013, 08:31:47 PM

Quote from: 7iain7 on November 05, 2013, 08:17:25 PM

Quote from: irpirate on November 05, 2013, 03:34:04 PM

Quote from: supersonic3974 on November 05, 2013, 02:40:26 PM

Quote from: nobbynobbynoob on November 25, 2012, 07:57:21 AM

Quote from: MAC on November 25, 2012, 05:31:28 AM

Very interesting considering where it has gone.

Indeed, the OP's prediction did turn out to be more than correct, given the price troughed last autumn at $2,54 or so.

This time next year it could be $254 per BTC on Mt Gox (probably not but you never say never in this game!) for all we know. Grin

If nobbynobbynoob has not edited his post since then, then he made a very good prediction!

Yeah, quite an accurate prediction right there.

All I can say is WOW !
Over 2 years on from this original post & look at bitcoin now !
Amazing we have all played our part in making bitcoin what it is today.

I don't usually like other people reviving old threads, but darn...

+1 haha. So true! Always great to go back though for this exact purpose.
nobbynobbynoob, do you have any predictions for next year? Huh

sushi

full member

Activity: 238

Merit: 100

ASIC Myth Buster

I don't know where the BitCoin value will settle in the future but the coin will hit the main street in the next few years like Paypal took a few years to be the common payment processing provider.

if the techs are able to come up with 2TH/S mining machines now days, in a few months, that number will be a lot greater and cheaper if they were to stay in the mining equipment business to beat the miners' operating expense vs ROI.

We need more easy way to exchange the coins to the local currencies to be more widely accepted by the merchants but I think it will get to that point one day.

btcton

legendary

Activity: 1302

Merit: 1007

Quote from: 7iain7 on November 05, 2013, 08:17:25 PM

Quote from: irpirate on November 05, 2013, 03:34:04 PM

Quote from: supersonic3974 on November 05, 2013, 02:40:26 PM

Quote from: nobbynobbynoob on November 25, 2012, 07:57:21 AM

Quote from: MAC on November 25, 2012, 05:31:28 AM

Very interesting considering where it has gone.

Indeed, the OP's prediction did turn out to be more than correct, given the price troughed last autumn at $2,54 or so.

This time next year it could be $254 per BTC on Mt Gox (probably not but you never say never in this game!) for all we know. Grin

If nobbynobbynoob has not edited his post since then, then he made a very good prediction!

Yeah, quite an accurate prediction right there.

All I can say is WOW !
Over 2 years on from this original post & look at bitcoin now !
Amazing we have all played our part in making bitcoin what it is today.

I don't usually like other people reviving old threads, but darn...

nobbynobbynoob

hero member

Activity: 784

Merit: 1000

Annuit cœptis humanae libertas

Quote from: supersonic3974 on November 05, 2013, 02:40:26 PM

Quote from: nobbynobbynoob on November 25, 2012, 07:57:21 AM

Quote from: MAC on November 25, 2012, 05:31:28 AM

Very interesting considering where it has gone.

Indeed, the OP's prediction did turn out to be more than correct, given the price troughed last autumn at $2,54 or so.

This time next year it could be $254 per BTC on Mt Gox (probably not but you never say never in this game!) for all we know. Grin

If nobbynobbynoob has not edited his post since then, then he made a very good prediction!

Nah, I completely forgot about this thread!

Hahaha maybe I can see into the future after all. Grin

7iain7

newbie

Activity: 45

Merit: 0

Quote from: irpirate on November 05, 2013, 03:34:04 PM

Quote from: supersonic3974 on November 05, 2013, 02:40:26 PM

Quote from: nobbynobbynoob on November 25, 2012, 07:57:21 AM

Quote from: MAC on November 25, 2012, 05:31:28 AM

Very interesting considering where it has gone.

Indeed, the OP's prediction did turn out to be more than correct, given the price troughed last autumn at $2,54 or so.

This time next year it could be $254 per BTC on Mt Gox (probably not but you never say never in this game!) for all we know. Grin

If nobbynobbynoob has not edited his post since then, then he made a very good prediction!

Yeah, quite an accurate prediction right there.

All I can say is WOW !
Over 2 years on from this original post & look at bitcoin now !
Amazing we have all played our part in making bitcoin what it is today.

irpirate

newbie

Activity: 56

Merit: 0

Quote from: supersonic3974 on November 05, 2013, 02:40:26 PM

Quote from: nobbynobbynoob on November 25, 2012, 07:57:21 AM

Quote from: MAC on November 25, 2012, 05:31:28 AM

Very interesting considering where it has gone.

Indeed, the OP's prediction did turn out to be more than correct, given the price troughed last autumn at $2,54 or so.

This time next year it could be $254 per BTC on Mt Gox (probably not but you never say never in this game!) for all we know. Grin

If nobbynobbynoob has not edited his post since then, then he made a very good prediction!

Yeah, quite an accurate prediction right there.

supersonic3974

member

Activity: 70

Merit: 10

Quote from: nobbynobbynoob on November 25, 2012, 07:57:21 AM

Quote from: MAC on November 25, 2012, 05:31:28 AM

Very interesting considering where it has gone.

Indeed, the OP's prediction did turn out to be more than correct, given the price troughed last autumn at $2,54 or so.

This time next year it could be $254 per BTC on Mt Gox (probably not but you never say never in this game!) for all we know. Grin

If nobbynobbynoob has not edited his post since then, then he made a very good prediction!

nobbynobbynoob

hero member

Activity: 784

Merit: 1000

Annuit cœptis humanae libertas

Quote from: MAC on November 25, 2012, 05:31:28 AM

Very interesting considering where it has gone.

Indeed, the OP's prediction did turn out to be more than correct, given the price troughed last autumn at $2,54 or so.

This time next year it could be $254 per BTC on Mt Gox (probably not but you never say never in this game!) for all we know. Grin

ennio.morricone

newbie

Activity: 8

Merit: 0

Quote from: 7iain7 on July 05, 2011, 11:02:37 AM

Not many miners will let there coins go for less than it cost them to create.
If they do then why bother at all ?
The price was driven on pure speculation.

You forget that, as the btc economy grows, there is a increase in the demand for bitcoins. that increase in demand will increase the trading price of btc.
As long as the btc economy grows, the will rise in the long term.

MAC

newbie

Activity: 37

Merit: 0

Very interesting considering where it has gone.

supersonic3974

member

Activity: 70

Merit: 10

I agree with Agozyen. Even if the price continues dropping, I'll continue mining. For one, I look forward to it rising sometime in the near or distant future. Secondly, I want to stay in to take advantage of the lower difficulty that might result from other miners stopping.

7iain7

newbie

Activity: 45

Merit: 0

I think the hard part is keeping public interest in bitcoins.
A lot of the interest has come from the wrong quarters.
I do think they will rise again(i hope) but at a more realistic rate.
and hope this is only growing pains for bitcoins.

Agozyen

sr. member

Activity: 672

Merit: 252

Until the end

Quote from: 7iain7 on July 05, 2011, 11:02:37 AM

Typical monterey price correction. bitcoin charts tells you all you need to know.
Not many miners will let there coins go for less than it cost them to create.
If they do then why bother at all ?
The price was driven on pure speculation.
ps sorry for my bad english

Some miners get free electricity, so cost is negligible to them. Others, like myself, are small players and value bitcoins over electricity and will mine until there is no obvious need to continue or the difficulty gets really bad. Lastly, not all miners are selling what they mine.

I'm not saying bitcoins won't hit $4, all I'm saying is that the charts don't tell the whole story.

Topic: come back to this post and see if i am wrong (Read 1717 times)