Topic: When in 2013 shall Bitcoin break its all-time-high of $31? - page 4. (Read 8877 times)

I never had Jesus in the first place.

I guess I'm fucked... Oh well.

Why do people keep asking me if I have found Jesus?

A better question would be Why do you fuckers keep losing him?

No offense intended, but I really don't like proselytizing.

https://www.youtube.com/watch?v=39btKqMiqiQ

False premise. Everyone knows the world will end in a little over 2 weeks.

Personally, if it happens in 2013, it will be late in the year. I'm hoping for a slow, steady rise. Of course, the collapse of the dollar may change that. We'll see.

For me the next interesting price milestone is $17.

At that point, we can well and truly put that awful Wired article "The Rise and Fall of Bitcoin" behind us.
The one that stated:
"... but the damage had been done; the bitcoin never got back above $17."

http://www.wired.com/magazine/2011/11/mf_bitcoin/all/

+1

I think Technomage more or less has it right, speculatively. Bitcoin is worth investing in, because either it's a total flop and one loses a bit of money, or it's a major success, even in a niche market, and value explodes, thus making holders rich - although, of course, Bitcoin is no get-rich-quick scheme at all.

There are 3 likely possibilities for Bitcoin. The first option is that Bitcoin continues to be a currency of the niche. Most of you are thinking along those lines. That is the route of slowing growth rate. Even in that case Bitcoin can break the all-time-high quite easily but it will take some time. The second option is that Bitcoin gets destroyed or fails somehow during the next couple of years.

There is a third option you're not really considering, which I find strange. There is the possibility that Bitcoin really finds some uses that make it lift off and enter mainstream. I believe the possibility of this is not insignificant. If that happens, we will see a growth rate far beyond of 2012. The price would go through $100 like a knife through butter. Instead of 100's of millions, the market cap would be in the billions.

Remember that the spike in 2011 was basically Bitcoin becoming known at all. Mainly in the technology & libertarian circles. If Bitcoin hits mainstream in usage, the spike in 2011 is a blip that will look like a straight horizontal line in the graph of the future. We don't know if this will happen or when it will happen but I think that 2013-2015 is the time it will likely happen if it is to happen.

So in conclusion I'd say that if Bitcoin starts to really show its potential in 2013 we will break through $31. Like it's nothing. However that might not happen or it might happen in later years. In that case there will be a slowing growth rate that is fairly linear, for a while longer at least.

I guess a lot of people bought bitcoin as present

Barring extraneous events, (major adoption by service provider/foreign nation/panics/etc...), at a conservative rise of $1 per month, that would be 18 months from now. So, worst case is by the end of May 2014.

However as we know, linear extrapolation has its own flaws.

If the Iranian people or some other oppressed population with a financial crisis adopt it as a defacto currency then it could hit critical mass where wide spread adoption begins.

Barring that the growth will be slow. I don't think bitcoins have seen there last major increase in value.

$31 is really just a fake price imo. It was up there for a split second on an exchange that would crash at a moments notice and that was subsequently hacked a few days after this "all time high". The real high imo, is about $20, and even then that was short lived. The actual price point where we had any side-ways action was about $14....

It's both. Faith is growing in bitcoin. Faith is declining in fiat, as it very well should. All fiat currencies eventually and inevitably return to their intrinsic value, zero.

price went up like crazy last Christmas....

The price will drop back down under $4 when people cash out to buy Christmas presents like last year.

IMO me.ga (if accepting bitcoins) will have a much greater impact on bitcoin. compared to me.ga wordpress is tiny, also lots of people, whether they read blogs or not, don't know what wordpress is.
just imagine the impact on bitcoin when every kiddy who wants to watch a movie online gets confronted with a (potentally) anonymous way to pay for me.ga.

Probably the same thing that happened when Wordpress accepted bitcoin - a small rise in price.  The fact is that bitcoin is still far too obscure and difficult to use for the vast majority of people.

Correct 2013, but I still hope for 2012 shipping 

I think he meant May/June 2013, not 2015  

Agreed, The same time BFL send their first shipment!