Next Big Bitcoin Price Increase - page 2.

colinistheman

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Quote from: ?? on ??

For your edification.

This shows total BTC minted versus total $Volume on Gox. The pink marker is where the halving occurred.

Beautifully telling graph. Yes, you can't ignore that unless you're... well choosing to be blind

Block reward halving will absolutely cause an increase in value. I'm not saying other factors won't also increase it. But this is one for sure.

Adrian-x

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Quote

Next Big Bitcoin Price Increase

When the price hits $300 we will return to exponential growth.

Why? The human psyche is conditioned to take while the goings good, ( capitulation as many who have Invested will reconsider) and at this point in time a new bread of early adopter will have satisfied themselves that Bitcoin will survive as a store of wealth.

humanitee

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As can be evidenced by the level of butthurt on Bitcointalk.

Literally lol'd, so scientific sounding.

Impaler

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Quote from: niko on July 31, 2013, 05:01:38 PM

Quote from: colinistheman on July 31, 2013, 10:56:48 AM

When will the next big Bitcoin price jump hit? State what you think and most importantly why.

My personal guess is in 3 years when the block reward gets halved again. I think we'll see another major jump in value. This will be due to supply and demand factors. Halving the block reward will make the currency even more scarce.
My guess is we will see it hit $300-$400 per coin at that time or shortly after.

What do you guys think?

Block reward has nothing to do with exchange rates. All the new coins mined today constitute only ~5% of the typical daily trade volume. In other words, ~95% of coins traded are old coins. Even if ALL the miners decide to hold or sell their coins, it would be irrelevant.

Well we have been seeing daily trading of between 20-40K so newly minted coins are between 10-20% of the daily volume. But even at 5%, that would mean that all the daily trading is being done with about 20 days worth mined of coins (and that's assuming coins don't double counted from fast trading). Likewise the total depth of coins on Gox has been on the range of 1 month worth of mining (at the peak of the bubble it was 2 weeks). No YES this is a very short term market that is controlled by the short term inflow of new coins. That is why the miners profitability per GH took about a month to recover after the halving event.

ElectricMucus

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Quote from: ElectricMucus on July 31, 2013, 05:42:20 PM

So how do you interpret that? Other than mtgox becoming filthy rich?

It tells me that the halving does matter. And it matters more than our neurology is able to easily grasp.

You know what they say about correlation with a sample size of one?

ElectricMucus

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So how do you interpret that? Other than mtgox becoming filthy rich?

jarhed

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Quote from: colinistheman on July 31, 2013, 10:56:48 AM

When will the next big Bitcoin price jump hit? State what you think and most importantly why.

My personal guess is in 3 years when the block reward gets halved again. I think we'll see another major jump in value. This will be due to supply and demand factors. Halving the block reward will make the currency even more scarce.
My guess is we will see it hit $300-$400 per coin at that time or shortly after.

What do you guys think?

1. The next big Bitcoin price jump:--->>> When I(we) move heaven and earth to locate funds for that SUPA Asic.

2. Why:---------------------------->>> What else is there to do.

niko

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There is more to Bitcoin than bitcoins.

Quote from: colinistheman on July 31, 2013, 10:56:48 AM

When will the next big Bitcoin price jump hit? State what you think and most importantly why.

My personal guess is in 3 years when the block reward gets halved again. I think we'll see another major jump in value. This will be due to supply and demand factors. Halving the block reward will make the currency even more scarce.
My guess is we will see it hit $300-$400 per coin at that time or shortly after.

What do you guys think?

Block reward has nothing to do with exchange rates. All the new coins mined today constitute only ~5% of the typical daily trade volume. In other words, ~95% of coins traded are old coins. Even if ALL the miners decide to hold or sell their coins, it would be irrelevant.

ElectricMucus

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Quote from: ?? on ??

I think we will see levels much higher than that before the next halving. The ATH for this halving has yet to be priced in.

That's silly, cuz it's a relative term. You said it yourself, there isn't any natural equilibrium where the price should be.

ElectricMucus

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Quote from: MrBea on July 31, 2013, 03:25:33 PM

3 years is far out. What will a dollar buy in 3 years? I'd say this has more to do with dollar value than block reward.

In order for that to be true annual inflation would have to be around 25%.
So no.

MrBea

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Bitcorns

3 years is far out. What will a dollar buy in 3 years? I'd say this has more to do with dollar value than block reward.

colinistheman

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When will the next big Bitcoin price jump hit? State what you think and most importantly why.

My personal guess is in 3 years when the block reward gets halved again. I think we'll see another major jump in value. This will be due to supply and demand factors. Halving the block reward will make the currency even more scarce.
My guess is we will see it hit $300-$400 per coin at that time or shortly after.

What do you guys think?

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