Topic: New Price Peak incoming (Read 5939 times)
These old prophecy threads are great for a laugh.
Agreed. I was thinking of a general catastrophic flaw in bitcoin, and didn't even consider that a direct cracking of SHA256 would result in all the things that you mentioned.
Edit: Just to be clear, I think bitcoin is as close to a sure thing as you can get. I've made a few large investments in my life based off of macroeconomic analysis, and forecasts that have always been controversial and generally put down and questioned by mainstream financial press/talking heads. Each of them have worked out (this will be the 4th investment with this level of "sureness").
The way bitcoin is constructed, the benefits it provides, the state of its competition, the problems it solves, the magnitude of its genuine practical innovation, etc. make it a sure thing in my mind. With the only variable really being time, or some black swan fat-tail event.
Since the supply is known and limited, when it gets anywhere close to main stream, and eventually is main stream the price will be exponentially higher 10k-100k, those sort of levels.
Edit: Just to be clear, I think bitcoin is as close to a sure thing as you can get. I've made a few large investments in my life based off of macroeconomic analysis, and forecasts that have always been controversial and generally put down and questioned by mainstream financial press/talking heads. Each of them have worked out (this will be the 4th investment with this level of "sureness").
The way bitcoin is constructed, the benefits it provides, the state of its competition, the problems it solves, the magnitude of its genuine practical innovation, etc. make it a sure thing in my mind. With the only variable really being time, or some black swan fat-tail event.
Since the supply is known and limited, when it gets anywhere close to main stream, and eventually is main stream the price will be exponentially higher 10k-100k, those sort of levels.
Think the US stock market in 1987... look familiar? Bitcoin has demonstrated an immense amount of strength in how it handled todays news. 2014 is gonna be a huge year br BTC, bigger than last year. 2000...5000? There are so few bitcoins, and there will be so much money flowing into it, Currency prices are just ratios, big numbers mean nothing. Most of the "reasons" why I hear BTC can't go much higher just has to do with "how much higher can it go". If Bitcoin were a stock I would say it's Appl at $10. Lots of money has been made, especially if you bought in at $1. But those who held on because they saw real value as opposed to a quick pump and dump were/will be the real winners.
BTC is an all or nothing sort of thing IMO. Either something catastrophic like the encryption getting cracked will turn it into a failed experiment, or it will take its place as a truly market and world changing innovation in currency (among other things).
A currency whose value is solely determined by market forces, that is a better store of value than any other, as well as better transactionally, we just have to get the world used to it. Which is ok, if everyone thought it was a sure thing there wouldn't be fortunes to be made.
BTC is an all or nothing sort of thing IMO. Either something catastrophic like the encryption getting cracked will turn it into a failed experiment, or it will take its place as a truly market and world changing innovation in currency (among other things).
A currency whose value is solely determined by market forces, that is a better store of value than any other, as well as better transactionally, we just have to get the world used to it. Which is ok, if everyone thought it was a sure thing there wouldn't be fortunes to be made.
If the encryption is cracked we have much bigger problems, like every online banking website, SSL, credit cards, tomahawk launch codes. Bitcoin would be easier to fix, we'd just fork to using SHA512 or something stronger.
Instruct miners that at X blocks we now use SHA512, changing bitcoin would be simpler than the other things which use SHA256.
my 2 cents
Agree, it is about to hit $2000 but after it hit $10.
Ok here is a speculation that didn't go through
Think the US stock market in 1987... look familiar? Bitcoin has demonstrated an immense amount of strength in how it handled todays news. 2014 is gonna be a huge year br BTC, bigger than last year. 2000...5000? There are so few bitcoins, and there will be so much money flowing into it, Currency prices are just ratios, big numbers mean nothing. Most of the "reasons" why I hear BTC can't go much higher just has to do with "how much higher can it go". If Bitcoin were a stock I would say it's Appl at $10. Lots of money has been made, especially if you bought in at $1. But those who held on because they saw real value as opposed to a quick pump and dump were/will be the real winners.
BTC is an all or nothing sort of thing IMO. Either something catastrophic like the encryption getting cracked will turn it into a failed experiment, or it will take its place as a truly market and world changing innovation in currency (among other things).
A currency whose value is solely determined by market forces, that is a better store of value than any other, as well as better transactionally, we just have to get the world used to it. Which is ok, if everyone thought it was a sure thing there wouldn't be fortunes to be made.
BTC is an all or nothing sort of thing IMO. Either something catastrophic like the encryption getting cracked will turn it into a failed experiment, or it will take its place as a truly market and world changing innovation in currency (among other things).
A currency whose value is solely determined by market forces, that is a better store of value than any other, as well as better transactionally, we just have to get the world used to it. Which is ok, if everyone thought it was a sure thing there wouldn't be fortunes to be made.
so we are a bout a moth further how you people talk now ? wher is the prize rocket ? donw to earth insted of the moon ? !
i am not in panic i will not sell i will prevail and conquer this panic sellers
i am not in panic i will not sell i will prevail and conquer this panic sellers That "saur" is a stegobrontotriceratops for all you science buffs out there.
Well, actually, its a collection of yellow lines but I get your point
New prediction patterns people. Buy or sell before it's too late. (No I don't endorse doge, it's just a funny meme)
That "saur" is a stegobrontotriceratops for all you science buffs out there.
Haha
Dude nice, I can draw yellow lines too!! This is my prediction
LMAO just got to the picture - its missing blue moons, Purple Unicorns and CANDY MOUNTAIN!!!!
Can we stop quoting the original graph with yellow lines drawn "where the author wants bitcoin to go" on ..... its not science, its just fantasy art
No, its awesome. You also see the dinosaur pattern forming?
Dont really believe in this stuff, but i do think we will have another rally on our hands with the overstock stuff.
Oh snap you're right!!!
http://i.imgur.co...TWNj.png?1
That's one strange dinosaur/turtle/something else
I see bitcoin hitting 1250 before the end of January.
Depends which way the dinosaur goes
I see bitcoin hitting 1250 before the end of January.
awesome !!
Can we stop quoting the original graph with yellow lines drawn "where the author wants bitcoin to go" on ..... its not science, its just fantasy art
No, its awesome. You also see the dinosaur pattern forming?
Dont really believe in this stuff, but i do think we will have another rally on our hands with the overstock stuff.
Oh snap you're right!!!
That's one strange dinosaur/turtle/something else
Whaha thats awesome
OMG Bulls, Bears and now Dinosaurs!
Can we stop quoting the original graph with yellow lines drawn "where the author wants bitcoin to go" on ..... its not science, its just fantasy art
No, its awesome. You also see the dinosaur pattern forming?
Dont really believe in this stuff, but i do think we will have another rally on our hands with the overstock stuff.
Oh snap you're right!!!
That's one strange dinosaur/turtle/something else
LMAO. That's brilliant !!
Jump to: