Topic: Rising Numbers (Read 2740 times)

what do you think about this news:

https://www.btcc.com/news/article/btcc-now-accepting-direct-bank-deposits

BTCC Now Accepting Direct Bank Deposits

Nov 02, 2015

Recent bitcoin price increases have reignited enthusiasm in buying bitcoin. BTCC is confident this trend will continue. As such, we are pleased to announce that we now accept direct deposits.
 
Customers now need only log in, click on “Account,” then “Fund,” and then select the “Bank Deposit” option to fund their BTCC accounts through their bank accounts. All customers who have Chinese bank accounts will be able to make direct deposits through ATM transfers or online banking.
 
BTCC will stop accepting customer deposits through agents on November 15.

I think none of the reasons you named applies in this current situation.
News from the fiat economy had hardly any influence on the Bitcoin price in 2015, why the situation should be different this time? There was no big negative news that would feel like the end of Keynesian economy is behind the corner. Rather old stuff that pretty much was already known. Debt ceiling included. If you hold a printing press, like FED does, that is all that matters, and rising of the ceiling will be pushed and approved in due time anyway.
It looks more like speculation games of the Chinese exchanges and I would stick to that for now. Halving is still quite far away, thus I would rule it out for now. 

The price is 392 at the moment in preev. I think that this is the preparation of the public debt of US or for the next halving or some kinds of inflation

By pure supply and demand, and considering that only 21 million Bitcoins will ever be out there, and more importantly, you have to consider all of the Bitcoin that got lost and therefore shrinks the supply even more... you can foresee that if the demands keeps growing, the only and I mean only way to go is to go UP. There are no questions with this. Supply and demand is a fact such as Newton's gravitational laws. Now, how high can it go? No one knows, just sit back and watch.

If you think the price will be $1000 in December, then buy the bitcoin. The stock market index will not rise that much. However, it is risky business.

Maybe but I wouldnt say for sure. The value of 1 btc is going up currently,  but it has to stop somewhere.

I am thinking should I buy BTC now?? Bcuz if next year or in December well be 1000 dollar than that is alot of money hmmm....

yes hopefully it will reach 1k next year, that would be amazing to see that happen. It's almost at $400! Very close

price may go up or down as any other currency or comodity but i like to get a comment or two :

miners are what makes transactions of bitcoin posible ,right ?

dificulty increasing often and then block rewards going down to half ,miner's costs going up so
the price needs to go up and cover at least the miners

right now for 150,000 transactions big or small ,average cost of fees+block rewards per transaction is 8$ !!!

that is a scary number considering divisibility and easy to spend little amounts like 2$ or less .are two of main
strengths of this curency ,equation can go better if we have more use of bitcoins but then we are like to hit
block size limits , damn this puzzle going worst anytime i try to fix it in my mind

welcome any help for me and i suspect for many other confused forum readers.

yes I can, that's why so many people are mining/buying/collecting these days. A lot of people believe it's a good investment including myself

$1000 can be achieved without manipulating the market. If the current trend continues until the end of the year $1000 is an easy target.

Silk Road collapsed before the bubble and may well have been a factor in increasing confidence when folks realised that Bitcoin wasn't dependent on it.

Gox weirdness aside, the rise was fueled by China last time and the collapse was fueled by it to when the government clamped down on exchanges. The Chinese government then pumped out documentaries pointing out the dangers and the losses people had sustained while conveniently leaving out that they were the primary reason why.

And I can't see any mention anywhere about weapons or terrorism ever being a factor.

It is not easy to go through $1000 due to halving in the middle of next year. But if bitcoin is widely adopted, the price will rise.

You'll be lucky to make it back to $1000 at the next halving. That's why everyone keeps talking about it. Every zero you add to an already sky-high valuation is another stage of delusion.

Burt has an algorithm on the price cap, it has lots merit in getting a realistic number for a period: https://bitcointalksearch.org/topic/m.7687843

Capturing 1% of such and such market value is not really feasible unless we see some kind of world wide economy meltdown.

We shall see in a few weeks if your strategy works out or not. The recent rise is quite smooth. I do not think it is caused by a robot.

oh itll definitely be worth alot more than 1k in the future years. im guessing its gonna take around 3-5 years to hit $1k and its only going to go up from there

Well yeah I think BTC was first 1000 dollar.

most miners are mining at a loss right now, and many of them immediately sell their mined coins to pay for electricity, with the halving, the amount of coins hitting the exchange would suddenly be much less.

Of course, most people anticipate this, so the price will likely rise long before this. What happens during or shortly after the halving depends on a lot of factors.

For example, will we overshoot the equilibrium price or not? How much demand will there be, and how much impact will the reduced supply really have?

Halving is the main catalyst for the next push. The opening of the regulated bitcoin exchange Gemini is the next catalyst.

Well to reach 1,000 USD it needs lots of time (normally)
At least after few halving periods which affect the price directly.
Another things which can affect the price are the chinese people which can pump the price to the moon.

Theoretically and if regulated and legalized in most of the countries (or in the most importants and the developed ones) the price must go much more higher than the price mentioned by you in your post. The number of bitcoins is limited, the people which will known and will want to use it is predicted to be always higher and higher. At least these factors will can cause the increase of the value of bitcoin in time. It is for sure that these time are not near. So you will need to wait years to have the hope to see those prices. But are based even if conditioned.

Anyhow you can have the possibility to see a possible increase of value of bitcoin in the middle of the next year after the halving. The halving is the process of halving of production of bitcoin within the time a block of bitcoin is produced. It is actually 25 bitcoin every about 10 minutes. It will be (after the halving) 12.5 bitcoin every about 10 minutes. This decrease of supply of bitcoin (decrease of the flow of bitcoins in the market in an defined period of time) and at least the same demand for it (have no known reason which can cause the decrease of demand for bitcoin) will made possible the increase of its price. the amount remain to be seen. But normally must be for sure an increase of price of it. Repeat: all those are theory. The practice is another. We hope to see something that have big probabilities to happen. But sometimes win the less probabilities. Everyone of us who are here in bitcointalk hope the verification of the big probabilities. 

It collapsed because of the silk road and other illegal activities ...weapon supplies ,ISIS etc...
People did not accept that and moved their investments.This rise is just Chinese thing.

bitcoin price ever reached $1200 per 1 coin, it's dropped because there are big sell wall. but i'm sure history will repeat

The bitcoin price will go up and down all the time. If there is more adoption in the long term, the price will rise eventually.

So you think this will be the priced in halving then? Or do you expect a much larger effect while and after the halving event?

Approximately every 4 years, the subsidy to miners is halved. Eventually, it will go to 0 and miners will only be paid from transaction fees. The subsidy is the method of creating new bitcoins, and the halvings limit the total supply to 21 million bitcoins. Other than ensuring that the supply of bitcoins is limited and some economic effects, the halvings have no direct effect on you or your bitcoins.

People like to celebrate Halving Day, so get ready to party next year!

Why not? It has all the features and I bet you've read all of it. Right now, it is probably under priced and have the best chance to rise further due to the removal of restrictions placed by the Chinese government. My target price at this moment is 500 level. I know a lot of people put hope on the $1000 but I think we still have a long way to go. Anything is possible. 

When the market will be mature enough a price range between 500 and 750$ is more than reasonable.
My only concern is that then BTC will have to face the Gold price. IMHO it is very unlikely to have a single BTC higher in value than a Gold oz.

It is just a psychological thing, I don't think this will happen. But I hope it will.

Yes, 1k ATK peak will look like a drop in the sea in 10 years. WE are talking 5 figure Bitcoins and above in 10 years, because the marketcap right now is specially tiny. It's only 4 billion, other companies have hundred thousands of billions of dollars. It's a VERY simple math. Small supply, big demand = Bitcoin must be 100K +dollars, there are no ifs.

Possible, seeing that the trend points out that we should be going up right now. Also, we have already seen $1100 from $0 so I think we will see much higher than that.

the catch is will open crypto catch on (btc) or will banks say the evil btc is not the way to go and their pos coin method is better (trust us we are your bank see...puppies)

so the war has not started yet on btc being evil and push back imho it will be soon thou...imho ...the powers that be in finance are starting to figure this btc and open crypto stuff is really really a threat

remember: the only things the banks do NOT like about Bitcoin and the blockchain is THEY did not invent it first and patent it.......thats the rub on their part...it is 'gasp' 'dismay' 'open source' w/o any controls etc..(the horror bank execs feel at that)

when that fear takes hold...look out ..they will come after open crypto with a vengance imho....(hope i'm wrong..but doubt it) ;(

Mate 1K is nothing compared to the prices that this thing can really climb to. The world is still discovering this awesome technology. Did you see what was on the front page of the Economist?

We need to give the world time. Time not just to learn about Bitcoin, but time that Bitcoin earns the much necessary trust. Once this happens, prices will go up very high.

Definitely. You know that it already hit 1k in past like 2 years ago? So that basically means it is not surprise to hit it again.
But I don't think it would happen in short range time.

we can hit it before the halving, not sure if it will happen, but it might.

it doesnt matter how many people are making the blockchain, every 10 minutes (on average) a new block is created. This system is self-regulating, so if there are more miners, the problems become harder to solve, so that they will still be solved in 10 minutes (but this increases the security), but if there are less miners the problems become easier, so they still take 10 minutes to solve (but the network gets less secure).

Right now, every 10 minutes, 25 new bitcoins are created (and we already have 14,800,000 bitcoins). In a year a total of 1.314.000 bitcoins will be generated, so that's about 10% of what we have, which means that in theory the inflation would be 10% (in practice the bitcoin value still can go up because more people start using it).

But next year, only 12.5 bitcoin will be made every 10 minutes (so 75 per hour instead of 150 per hour). Which means that only about 650.000 new bitcoins will be made per year, which is less than 5% inflation.

It's still quite a lot, but every 4 years or so this will keep on halving. Until almost no new bitcoins will be created. (In 2140 or so, no new bitcoins will be created at all).

1k was already surpassed in 2013, it was 1200, i dunno why people keep thinking about 1k, when it is not a real target anymore

if everything goes well we can hit 10k, with the next halving already...

first read something about bitcoins .....https://en.wikipedia.org/wiki/Bitcoin
this is just speculation nothing is guaranteed ,dont invest the amount you cannot afford to lose.

Nope not at all. I guessed you used the translator LOL. I don't really understand what you mean
Anyway, the price of bitcoin surely gonna go up as this is the trend right now (a week ago it was like $270 I think). And it will be sky-rocket when the halving coming next year. However the price at the moment, in my opinion, is not stable because it increased really fast

Thank you.  How many make a blockchain?  Hope I asked that correctly.

Bitcoin Halving* means the the reward the miners get when the succesfully mine a block gets halved, currently it is 25 bitcoins but after the halving it will become 12.5 bitcoins. People associate this with the price increase because the supply will get reduced by half and if the demand remains the same, the price is bound to go up.

But it is still very far.

What does halfing mean?  I have only bought one coin.  I am trying to figure all this out before diving in.

That is enough if in USA inflation will appear,that moment btc price   will sky rocket,another reason if Chinise business will accept bitcoin one time again.EU and Euro is  on the edge,Euro may die any moment
Yes  it is possible to have btc at that prce,biggest issue is bitcoin price be stable

definetely, after the halfing next year the price is certainly going up. might not go up over 1000 but its definitely going up. and slowly over time price is going to break 1000 and keep escalating, in about 15 years from now, i see bitcoin at being worth $5000 ea

I am new to the Bitcoin world but trying to learn.  Can you in reality in the far future ever see a coin be worth more than 1K or more?