What are the odds of the BTC reaching 20 USD this summer?

Current-C

full member

Activity: 124

Merit: 100

Quote from: FreeMoney on May 15, 2011, 05:17:46 AM

Quote from: N12 on May 15, 2011, 05:00:56 AM

Quote from: FreeMoney on May 15, 2011, 04:59:06 AM

Quote from: Lovecrafter on May 15, 2011, 04:38:15 AM

All this aside, what is the maximum potential value of a BTC? (Let's say the debt ceiling stays at where it is for the US).

I've heard 650k for one BTC. Is that true?

In the Bitcoin-kills-governments scenario I think it's 1 or 2 orders higher. I would expect people to choose to hold a higher % of their wealth in cash (bitcoins) when it wasn't being debased and to be wealthier in general.

If Bitcoin kills governments, fiat money will be worthless, so its value should rather not be measured in USD. But I guess you are talking about the purchasing power of today’s USD.

Yeah, always todays dollars. We're in the unfortunate situation of having the dollar as the best reference. But if Bitcoin is the money then 1BTC will buy a hell of a lot more than a 5br house in a decent area.

My thought is that gold is a better reference than dollars. In a "bitcoins are the worlds currency" situation and the total value of all btc equals the total value of all the gold in the world then a back of the envelope calculation puts 1btc worth about 476 oz of gold, or $714,000 at todays dollar value. We probably have a few more months to go before we get there.

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

Quote from: N12 on May 15, 2011, 05:00:56 AM

Quote from: FreeMoney on May 15, 2011, 04:59:06 AM

Quote from: Lovecrafter on May 15, 2011, 04:38:15 AM

All this aside, what is the maximum potential value of a BTC? (Let's say the debt ceiling stays at where it is for the US).

I've heard 650k for one BTC. Is that true?

In the Bitcoin-kills-governments scenario I think it's 1 or 2 orders higher. I would expect people to choose to hold a higher % of their wealth in cash (bitcoins) when it wasn't being debased and to be wealthier in general.

If Bitcoin kills governments, fiat money will be worthless, so its value should rather not be measured in USD. But I guess you are talking about the purchasing power of today’s USD.

Yeah, always todays dollars. We're in the unfortunate situation of having the dollar as the best reference. But if Bitcoin is the money then 1BTC will buy a hell of a lot more than a 5br house in a decent area.

N12

donator

Activity: 1610

Merit: 1010

Quote from: FreeMoney on May 15, 2011, 04:59:06 AM

Quote from: Lovecrafter on May 15, 2011, 04:38:15 AM

All this aside, what is the maximum potential value of a BTC? (Let's say the debt ceiling stays at where it is for the US).

I've heard 650k for one BTC. Is that true?

In the Bitcoin-kills-governments scenario I think it's 1 or 2 orders higher. I would expect people to choose to hold a higher % of their wealth in cash (bitcoins) when it wasn't being debased and to be wealthier in general.

If Bitcoin kills governments, fiat money will be worthless, so its value should rather not be measured in USD. But I guess you are talking about the purchasing power of today’s USD.

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

Quote from: Lovecrafter on May 15, 2011, 04:38:15 AM

All this aside, what is the maximum potential value of a BTC? (Let's say the debt ceiling stays at where it is for the US).

I've heard 650k for one BTC. Is that true?

In the Bitcoin-kills-governments scenario I think it's 1 or 2 orders higher. I would expect people to choose to hold a higher % of their wealth in cash (bitcoins) when it wasn't being debased and to be wealthier in general.

Lovecrafter

newbie

Activity: 89

Merit: 0

All this aside, what is the maximum potential value of a BTC? (Let's say the debt ceiling stays at where it is for the US).

I've heard 650k for one BTC. Is that true?

gigabytecoin

sr. member

Activity: 280

Merit: 252

I would place the odds at 1/1 at my casino.

commlinx

full member

Activity: 294

Merit: 100

Quote from: Lovecrafter on May 15, 2011, 03:01:34 AM

Quote from: commlinx on May 15, 2011, 02:56:34 AM

This summer is over six months away for me, so odds are pretty good Cheesy

.

Good luck! Cheesy

I'm hoping I can buy some and, withing a few months, exchange for USD and use that to pay some rent I owe. It'd be pretty sweet. How long have you been into BitCoin?

I'm fairly new, looking at my transactions got my first 0.05 from the faucet on March 23 and first 1BTC from a pool on March 30 using the GTX285 I had at the time. Only thing I've invested in since is a 5970 card and bought 120BTC when they were closer to $US1 so will hardly be a millionaire but all going well should be a nice little bonus.

A year or so ago I cashed out some jars of $AUD coins I'd been collecting for years and had $6K for some nice photography gear, I was thinking it would be cool in a few years to have enough bitcoins to do something similar and splash out on something Grin

. Hopefully it should be a bit easier though, that quantity of fiat coins almost broke my back getting them to the bank Cheesy

.

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

Quote from: Lovecrafter on May 15, 2011, 02:51:10 AM

I've heard speculation of up to 100 USD per 1 BTC just by June. I think that's a little ridiculous, but I was curious to see what you guys were thinking. I'm going to say 15 USD per 1 BTC.

Then again, if this is a bubble, it'll soon go much lower. Thoughts?

I don't think the price will go down unless it does go down. On the other hand it can't go up much unless it's headed up.

Tha Feds

newbie

Activity: 9

Merit: 0

Predictions are hard...especially about the future.

goatpig

legendary

Activity: 3794

Merit: 1375

Armory Developer

Quote from: Lovecrafter on May 15, 2011, 02:51:10 AM

I think that's a little ridiculous

Yes.

I'm expecting ~$10-11 early june.

Lovecrafter

newbie

Activity: 89

Merit: 0

Quote from: commlinx on May 15, 2011, 02:56:34 AM

This summer is over six months away for me, so odds are pretty good Cheesy

.

Good luck! Cheesy

I'm hoping I can buy some and, withing a few months, exchange for USD and use that to pay some rent I owe. It'd be pretty sweet. How long have you been into BitCoin?

Also, I noticed the "bubble" seems to be crashing right now. I'm arguing with people that it will just go back up, so there's no point to worry. Too bad I didn't know about this when BTC was super cheap! I could have bought a hundred of them. xD

commlinx

full member

Activity: 294

Merit: 100

This summer is over six months away for me, so odds are pretty good Cheesy

.

Lovecrafter

newbie

Activity: 89

Merit: 0

I've heard speculation of up to 100 USD per 1 BTC just by June. I think that's a little ridiculous, but I was curious to see what you guys were thinking. I'm going to say 15 USD per 1 BTC.

Then again, if this is a bubble, it'll soon go much lower. Thoughts?

Topic: What are the odds of the BTC reaching 20 USD this summer? (Read 1900 times)