Raise in value | Bitcointalksearch.org

nameface

sr. member

Activity: 406

Merit: 250

Apparently if bitcoin was used for 1/1000th of all global monetary transactions, then 1 BTC should be worth ~$5000. The ceiling is quite high.

Others claim that based on current usage levels, a bitcoin's value should only technically be around $1.50 or so. The bloated price of $12 is the result of speculation. But this speculation is likely to explode every time bitcoin receives (positive?) mainstream media attention, or whenever new tech and business developments happen that increase the amount and volume of bitcoin transactions relative to the amount of fiat money transactions worldwide.

The whole bitcoin economy is only worth what, 100 million dollars? If this thing has legs it could grow to be worth 100 billion by 2020. So either 1 BTC = $6000 in 2020, OR 1 BTC = $0 in 2020, OR anything in between

Happy speculating.

Monkey1

hero member

Activity: 868

Merit: 500

Its only too late if you think the party is over and Bitcoin has no future!

Otherwise, there will be ups and downs. Last year 1 BTC was worth $30 at one stage and I am sure it will be worth more in the future. It just depends on when!

the_thing

sr. member

Activity: 546

Merit: 252

Proof-of-Stake Blockchain Network

Quote from: Pi on September 18, 2012, 10:40:18 PM

I want to invest but wonder if its too late...wish I would have heard about these earlier on. Just wondering what would happen when the difficulty increases and the payment halves for miners. And what if miners all go on strike or stop mining due to electrical cost and decreased pay.

In my opinion, it is not too late. The price is bound to rise in the long run. With the reward drop and some miners closing their rigs, I expect the price to rise much more. However, there are also other factors to count in. In short term it's mainly ASIC, in long term there are various scams, crashes of infrastructre or effects of bad publicity, but that's another story...

Long story short, if you believe in Bitcoin like we do, buy your first bitcoins now. You're still an early adopter!

By the way, welcome to the forum and welcome to Bitcoin. Please, don't mind all the trolls and idiots here.

Also, be careful who you deal with. Don't lend bitcoins to people you don't know. Not even to those who look very trustworthy. Don't trust people with VIP, Donator, Hero member and other similar tags more than you would trust someone with a newbie tag. VIP and Donator tags are sold for a few bucks. Scammers often donate this small amount of money to buy trust of other member of the community. But I digress once more...

Anyway, if you have any questions, feel free to ask.

Adrian-x

legendary

Activity: 1372

Merit: 1000

Quote from: FreeMoney on September 19, 2012, 02:45:53 PM

Quote from: Ivica on September 19, 2012, 12:25:13 PM

Quote from: Adrian-x on September 19, 2012, 12:15:31 PM

LOL I think in terms of Satoshi (pronounced sa-toh-shee) I hope some time in the future 1 Satoshi will have the same value as $1US

That's very optimistic, but if it does, half of this forum will become billionaires.

Also OP could buy 1 or 10btc and continue his reading. Nothing will happen today nor tomorrow for bitcoin to die.

I bet half of this forum doesn't even have 1 coin let alone the ability to hold it for decades as people are offering thousands and then millions of dollars for it.

But still you have to admit saying "I have 50 Satoshi" sounds like you have 50 busks, it has a ring to it. Where as saying I have 50 Bitcoin's sounds a little nerdy.

@Pi,
Don't invest at once it is going to be a rough ride, Bitcoins value is in the idea not the exchange rate.

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

Quote from: Ivica on September 19, 2012, 12:25:13 PM

Quote from: Adrian-x on September 19, 2012, 12:15:31 PM

LOL I think in terms of Satoshi (pronounced sa-toh-shee) I hope some time in the future 1 Satoshi will have the same value as $1US

That's very optimistic, but if it does, half of this forum will become billionaires.

Also OP could buy 1 or 10btc and continue his reading. Nothing will happen today nor tomorrow for bitcoin to die.

I bet half of this forum doesn't even have 1 coin let alone the ability to hold it for decades as people are offering thousands and then millions of dollars for it.

Ivica

full member

Activity: 218

Merit: 100

Firstbits: 19e3fc

Quote from: Adrian-x on September 19, 2012, 12:15:31 PM

LOL I think in terms of Satoshi (pronounced sa-toh-shee) I hope some time in the future 1 Satoshi will have the same value as $1US

That's very optimistic, but if it does, half of this forum will become billionaires.

Also OP could buy 1 or 10btc and continue his reading. Nothing will happen today nor tomorrow for bitcoin to die.

Adrian-x

legendary

Activity: 1372

Merit: 1000

Quote from: FreeMoney on September 18, 2012, 10:45:56 PM

Quote from: Pi on September 18, 2012, 10:40:18 PM

I want to invest but wonder if its too late...wish I would have heard about these earlier on. Just wondering what would happen when the difficulty increases and the payment halves for miners. And what if miners all go on strike or stop mining due to electrical cost and decreased pay.

Just buy bitdimes instead, they are only ~$1.20 now, very affordable.

LOL I think in terms of Satoshi (pronounced sa-toh-shee) I hope some time in the future 1 Satoshi will have the same value as $1US

Pi

newbie

Activity: 28

Merit: 0

Thanks ken. Still new to me guys sorry I wasn't born with a bitcoin in my wallet.

kentrolla

hero member

Activity: 1652

Merit: 569

Catalog Websites

why is this forum so mean to newbies?

To answer your questions, I think the recent raise in value is due to the london conference and the announcement of QE3. I still don't think it's too late invest. I suggest you check out the speculation sub-forum for more information.

Here are my reasons:

1) There has been a pretty steady uptrend recently

2) If you look at the depth chart (btccharts.com or http://bitcoin.clarkmoody.com) you can see there is very little on the ask side

3) Bitcoin has survived a lot of stuff and the fundamentals have not been broken.

4) QE3 - The value of the USD is decreasing.

This is all just speculation, but I'm pretty confident the direction from here is up.

tpantlik

full member

Activity: 136

Merit: 100

Quote from: Pi on September 18, 2012, 10:40:18 PM

...And what if miners all go on strike...

ROFL

Kupsi

legendary

Activity: 1193

Merit: 1003

9.9.2012: I predict that single digits... <- FAIL

Quote from: Pi on September 18, 2012, 10:40:18 PM

Just wondering what would happen when the difficulty increases and the payment halves for miners. And what if miners all go on strike or stop mining due to electrical cost and decreased pay.

In a worst case scenario, 50% of the miners would quit mining. But that's not going to happen.

foo

sr. member

Activity: 409

Merit: 250

The newbie thinks this is a "sudden spike", how cute. Wink

Us veterans have seen things, man...

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

Quote from: Pi on September 18, 2012, 10:40:18 PM

I want to invest but wonder if its too late...wish I would have heard about these earlier on. Just wondering what would happen when the difficulty increases and the payment halves for miners. And what if miners all go on strike or stop mining due to electrical cost and decreased pay.

Just buy bitdimes instead, they are only ~$1.20 now, very affordable.

jojo69

legendary

Activity: 3318

Merit: 4606

diamond-handed zealot

Quote from: jasinlee on September 18, 2012, 07:47:30 PM

You got some reading to do.

Pi

newbie

Activity: 28

Merit: 0

I want to invest but wonder if its too late...wish I would have heard about these earlier on. Just wondering what would happen when the difficulty increases and the payment halves for miners. And what if miners all go on strike or stop mining due to electrical cost and decreased pay.

evoorhees

legendary

Activity: 1008

Merit: 1023

Democracy is the original 51% attack

The price of Bitcoin is relatively volatile. It goes up and down with supply and demand. Over the long term, it has been stabilizing and will continue to do so, but in the short term it'll feel like a roller coaster for a while.

Just sit back and enjoy the ride! If you're investing for the long term, don't let the volatility scare you.

jasinlee

hero member

Activity: 742

Merit: 500

Its as easy as 0, 1, 1, 2, 3

You got some reading to do.

Pi

newbie

Activity: 28

Merit: 0

I just started bitcoins... When I started they were at 10usd for awhile. What's with the sudden spike

Topic: Raise in value (Read 2082 times)