When do you expect and when do you want BTC to go over 30 bucks again? - page 2.

andes

jr. member

Activity: 42

Merit: 2

Quote from: hawks5999 on June 23, 2011, 03:51:45 PM

$180 MM would be current market value. Final market value at $30:1BTC would be $630 MM - or enough to satisfy 1 fiscal quarter of iTunes sales.

Bitcoin needs a final market value of about $21 Trillion to be viable as a world currency and $210 Trillion would be a lot better.

Right!

One thing though, dont forget that (hopefully) bitcoin will be just one of many concurrent free market currencies in the world. Many people think in terms of only one currency, which is nor realistic, nor desirable.

hawks5999

full member

Activity: 168

Merit: 100

$180 MM would be current market value. Final market value at $30:1BTC would be $630 MM - or enough to satisfy 1 fiscal quarter of iTunes sales.

Bitcoin needs a final market value of about $21 Trillion to be viable as a world currency and $210 Trillion would be a lot better.

andes

jr. member

Activity: 42

Merit: 2

Quote from: Synaesthesia on June 23, 2011, 02:58:11 PM

Quote from: mineority on June 23, 2011, 02:28:46 PM

To be honest, I don't think the BTC price will ever go over 30 again. Never ever.

I think you would be in the mineority there. Grin

Honestly mineority, if you believe bitcoin could be succesfull with a price below 30 you dont understand bitcoin. I would say, either bitcoin goes to the hundreds, thousands, or tens of thousands, or bitcoin dies. Its all about market size. $30 means a maximum of 180 million dollars of total value. With such a market size, bitcoin would not be a currency, but a rarity, a collectors item.

Nagle

legendary

Activity: 1204

Merit: 1002

Current market depth (USD, TradeHill)

The market right now has some depth to it, with a good supply of buyers and sellers, so the current price, about $15, is what a Bitcoin is worth right now.

With Mt. Gox offline, things have been relatively stable. If Mt. Gox shows high volatility while Tradehill does not, that's an indication that something funny is going on over at Mt. Gox. Normally, a larger market is less volatile.

Synaesthesia

sr. member

Activity: 546

Merit: 253

Quote from: mineority on June 23, 2011, 02:28:46 PM

To be honest, I don't think the BTC price will ever go over 30 again. Never ever.

I think you would be in the mineority there. Grin

mineority

newbie

Activity: 9

Merit: 0

To be honest, I don't think the BTC price will ever go over 30 again. Never ever.

netrin

sr. member

Activity: 322

Merit: 251

FirstBits: 168Bc

Quote from: Jack of Diamonds on June 23, 2011, 06:04:22 AM

Quote from: clint25n on June 23, 2011, 02:57:41 AM

We need the client software to become better developed, more secure and it to show 0.000001 BTC as 1uBTC or something. Humans will not accept buying shoes online for .000060 BTC, it needs to be 60 uBTC.

It needs to be something the common man/woman can identify with, like "bitcent". A hundred or thousand of those could be a "bitcoin".

You realize that 'cent' is already an SI prefix (in this case suffix). Whether bitcent or centibitcoin, it's just a term and it means 1/100th. I expect no semi-computer literate human would have trouble with milli-, micro-, nanobitcoins. In a given year, we'll probably only use one or two terms. I expect people can learn - it's money after all.

I expect slang to drop the 'bit' and personally expect we'll soon be exchanging picocoins (nano is so last decade!).

Quote from: Jack of Diamonds on June 23, 2011, 06:04:22 AM

To have widespread use for BTC, the infrastr. needs to be developed for someone who can turn on the computer, surf the web & understands how to download bitcoin and obtain a wallet, but not much beyond that.

I'm surprised there are not a lot more mybitcoin.com competitors already. I will not help my grandmother secure her local wallet, but I can make her an account and give her a really clever password.

netrin

sr. member

Activity: 322

Merit: 251

FirstBits: 168Bc

On a log graph, even with the viruses, pump-and-dump, heist and Mt. Gox, and all you nah-sayers, week over week, the price is on a pretty consistent exponential trajectory: http://bitcoincharts.com/charts/chart.png?m=mtgoxUSD&v=1&t=S&l=1&r=60 Assuming no major catastrophes, I expect we'll hit $30 on schedule, mid July, and $50 in August.

Alex Beckenham

full member

Activity: 154

Merit: 100

I'll guess 2 or 3 weeks, and that's pretty much in line with what I'd prefer too.

If no-one wants the $900 or so in my AlertPay account, I'll have to withdraw it and get it into an exchange somehow, that'll take time Undecided

luv2drnkbr

hero member

Activity: 793

Merit: 1016

Quote from: phorensic on June 22, 2011, 07:17:05 PM

I want it to hit $20 again so I can recoup the BTC I got from TheRealPlato in exchange for gas when it was $20 that day Wink

I hope it does too simply because I want you to be rewarded for helping Plato along his way. I don't mind bitcoin stabalizing at $15 personally for the time being.

frutza

newbie

Activity: 14

Merit: 0

Fees will be lower for a couple of week (less than half of what they used to be) which will encourage lots of speculation. However, at the end of the reduced-fees period, the speculator will be better-off if BTC is $30 not $10...

bittersweet

full member

Activity: 222

Merit: 100

November-December 2011

frutza

newbie

Activity: 14

Merit: 0

A few days after MtGox comes back online, if there are no other security issues

bitcoinTrader

sr. member

Activity: 364

Merit: 250

29th June it will be >=30.

Just a wild guess Tongue

Synaesthesia

sr. member

Activity: 546

Merit: 253

Metric system works for me - 1000 microbits (uBTC) = 1 millibit (mBTC), and 1000 millibits = 1BTC

Jack of Diamonds

sr. member

Activity: 252

Merit: 251

Quote from: clint25n on June 23, 2011, 02:57:41 AM

We need the client software to become better developed, more secure and it to show 0.000001 BTC as 1uBTC or something. Humans will not accept buying shoes online for .000060 BTC, it needs to be 60 uBTC.

It still sounds too arbitrary.
With all due respect to the community, there are far too many autistic ideas thrown around that will never gain mass acceptance.

It needs to be something the common man/woman can identify with, like "bitcent". A hundred or thousand of those could be a "bitcoin".
To have widespread use for BTC, the infrastr. needs to be developed for someone who can turn on the computer, surf the web & understands how to download bitcoin and obtain a wallet, but not much beyond that.

Because that's 99.9% of the world's (internet) population no matter how superior some Unix geeks want to feel. We need to think about the demands of the larger market for BTC to succeed.

One of the best ideas is physical Bitbills, the owner has done a really good job with it. That's exactly the kind of stuff Bitcoin needs to get visibility and acceptance.

Chick

member

Activity: 70

Merit: 10

Yesterday.

clint25n

sr. member

Activity: 840

Merit: 250

We need the client software to become better developed, more secure and it to show 0.000001 BTC as 1uBTC or something. Humans will not accept buying shoes online for .000060 BTC, it needs to be 60 uBTC. But a good outlook on things Hawks... guess we are still all early pioneers, and earning 3 BTC per day may be a tremendous amount of currency.

hawks5999

full member

Activity: 168

Merit: 100

4th of July.

Nagle you have no vision. The price should not stabilize until the exchange rate provides enough units that fully mined would account for a significant minority of global GDP (~US$50Trillion). For that to happen, $1 needs to be around 0.00000100BTC - 0.00001000BTC. With your idea stabilizing around $15:1BTC you are confining BTC to Black market or insular community usage. That puts the US$ at 0.06666667 and means BTC will never have a market cap beyond $315 million. That's not enough money to satisfy globabl spending on TV shows through iTunes let alone be a viable world currency.

Nagle

legendary

Activity: 1204

Merit: 1002

We've just had two days of a nice steady $13-$15 Bitcoin. There's enough trading that it seems the market agrees that's the price.

Topic: When do you expect and when do you want BTC to go over 30 bucks again? - page 2. (Read 5451 times)