If BTC ends year 12-31-2011 at 1 it will

DamienBlack

jr. member

Activity: 56

Merit: 1

Quote from: silverchair on July 14, 2011, 01:02:36 AM

Quote from: steelhouse on July 13, 2011, 09:18:30 PM

still be a 333% gain for the year!!!!!!!!!!!!!!!!!!!!!!!!!!!!! BTC started the year at $0.3. If it ends the year at 10, it will be a 3333% move. In comparison, gold was $18.93 in 1833. Today it is $1586. If gold was $47.58 on January 1st, the price would be $1586 with a 3333% move. You have to go back to 1971 for that price. For BTC was to go to $25.13, the move would be equal the move of gold 1833 to present.

In summary, if BTC ends the year at 1.0 it will be one of the best investments for the year.

Let's hope and see.

Let's hope for $1? I think not.

silverchair

full member

Activity: 168

Merit: 100

Quote from: steelhouse on July 13, 2011, 09:18:30 PM

still be a 333% gain for the year!!!!!!!!!!!!!!!!!!!!!!!!!!!!! BTC started the year at $0.3. If it ends the year at 10, it will be a 3333% move. In comparison, gold was $18.93 in 1833. Today it is $1586. If gold was $47.58 on January 1st, the price would be $1586 with a 3333% move. You have to go back to 1971 for that price. For BTC was to go to $25.13, the move would be equal the move of gold 1833 to present.

In summary, if BTC ends the year at 1.0 it will be one of the best investments for the year.

Let's hope and see.

TraderTimm

legendary

Activity: 2408

Merit: 1121

I see your point about percentage increases, but that isn't the ultimate goal here. (Or at least, it isn't for me.) I'm here because I believe in the promise of bitcoin, what it can do to liberate people from unnecessary restrictions and censorship. While I wouldn't mind increasing value, I don't demand it, because the underlying system is what needs to continue and propagate.

Every time the client is downloaded and used, is an incremental victory for bitcoin. I think all those numbers will add up to something quite impressive.

julz

legendary

Activity: 1092

Merit: 1001

Quote from: steelhouse on July 13, 2011, 09:18:30 PM

In summary, if BTC ends the year at 1.0 it will be one of the best investments for the year.

To characterize it as 'one of the best investments for the year'... it might make more sense to look at when the majority of current holders got in.

Sure - it makes sense if you're talking about the whole year, but to an outsider, it doesn't capture the possibility that the vast majority of people invested in June or later.

(I don't really know when the majority of people got in - I just suspect that if it went to $1 and you did a survey, a decent majority of bitcoiners who actually invested other currency, or even via mining equipment - would'nt agree with 'one of the best investments for the year')

steelhouse

hero member

Activity: 717

Merit: 501

still be a 333% gain for the year!!!!!!!!!!!!!!!!!!!!!!!!!!!!! BTC started the year at $0.3. If it ends the year at 10, it will be a 3333% move. In comparison, gold was $18.93 in 1833. Today it is $1586. If gold was $47.58 on January 1st, the price would be $1586 with a 3333% move. You have to go back to 1971 for that price. For BTC was to go to $25.13, the move would be equal the move of gold 1833 to present.

In summary, if BTC ends the year at 1.0 it will be one of the best investments for the year.

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