The higest price was 31. something
Depends on how you define the price. The highest price paid on Mt. Gox is about 32, but the highest price paid by anybody is higher than that (I think I saw somebody said they sold some for over 40).
Topic: Predicing btc to fiat stabilization ? (Read 1198 times)
hero member
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It's all fun and games until somebody loses an eye
Depends on how you define the price. The highest price paid on Mt. Gox is about 32, but the highest price paid by anybody is higher than that (I think I saw somebody said they sold some for over 40).
The higest price was 31. something
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
Are there any predictions when or how soon the market will stabilize? Also what was the highest value it has reached and how long did it stay there? I know i could prolly look this stuff up but im lazy any info would be appreciated thanks
It is hard to predict when it will stabilize. The current price is the current highest price (taking a weekly average price). In the past, the price has moved upward and then stabilized in about 8-10 week long movements, so it could stabilize in a couple weeks. Or it could just keep going up for a while.
http://bitcoincharts.com/charts/mtgoxUSD#igWeeklyztgSza1gWMAzm1g7zm2g25zvzl
There are two possible stable values for Bitcoin: the value it would stabilize at in a condition of ubiquitous adoption, and the value it would stabilize at with zero adoption. Until we reach one of those two states it's going to be a bumpy ride.
Are there any predictions when or how soon the market will stabilize? Also what was the highest value it has reached and how long did it stay there? I know i could prolly look this stuff up but im lazy any info would be appreciated thanks
The price will stabilize when there is a competing digital currency. That is why I have been trying to grow litecoin.
If there a person could earn BTC only and buy everything with BTC, then it would be stable the other currencies would not be stable.
Consider
USD->CAD
USD->EUR
Or other currencies.
Consider
USD->CAD
USD->EUR
Or other currencies.
The world fiat monetary base (M0) which is cash and cash equivalents is in the region of $10 trillion.
Think of cash as payments which are the end-point extinguishing a transaction. (If you pay on credit card then you just open up a new transaction, a debt, as the purchase is made, so credit money is not M0).
If Bitcoin grew to supersede nearly all fiat (which is feasible given its huge inherent advantages), and this takes place when about 15 million BTC have been created,
then the maximum price for a bitcoin would be in the region of $700,000 each in 2013 dollars.
Considering that a currency war is hotting up then there may be a lot of printing in the next few years, so perhaps $1 million per BTC is a round number to keep in mind.
This is not considering the impact of the FRB system likely disappearing, and a huge percentage of the $1000 trillion world derivatives markets, which would have a hard time existing in a stable monetary base system. The benefits are, according to Austrian economics, very little in the way of booms and busts.
I believe a significant amount of speculation is recognition that there is a possibility this may all happen.
Think of cash as payments which are the end-point extinguishing a transaction. (If you pay on credit card then you just open up a new transaction, a debt, as the purchase is made, so credit money is not M0).
If Bitcoin grew to supersede nearly all fiat (which is feasible given its huge inherent advantages), and this takes place when about 15 million BTC have been created,
then the maximum price for a bitcoin would be in the region of $700,000 each in 2013 dollars.
Considering that a currency war is hotting up then there may be a lot of printing in the next few years, so perhaps $1 million per BTC is a round number to keep in mind.
This is not considering the impact of the FRB system likely disappearing, and a huge percentage of the $1000 trillion world derivatives markets, which would have a hard time existing in a stable monetary base system. The benefits are, according to Austrian economics, very little in the way of booms and busts.
I believe a significant amount of speculation is recognition that there is a possibility this may all happen.
Is there any way to predict when the btc will stabilize ? and does any one know why it keeps going up or is it all speculation ?
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