I'm calling it now (and you can quote me on this in the future): Price on January 1st 2015 will be at least $100 lower than price on January 1st 2014.
Quoted. You are welcome.
Topic: When will bitcoin hit 252,000 USD? - page 4. (Read 6254 times)
Quoted. You are welcome.
It's funny when people extrapolate trends indefinitely, without taking into account the specific and non-repeatable historic circumstances that allowed us to reach this price in the first place.
Past performance doesn't guarantee future returns. Future price development doesn't have to resemble the past, just because you draw fancy lines on graphs and look for patterns that aren't there. Only in retrospect does your TA work.
Look at the fundamentals instead. Look at how all the Average Joes are staying away, calling Bitcoin a Ponzi scheme. Look at how governments around the world are banning BTC. Look at how more and more banks are refusing to let their users transfer fiat to BTC exchanges. With no new fiat wired to the exchanges, how is price supposed to rise to the lofty heights you permabulls expect?
I'm calling it now (and you can quote me on this in the future): Price on January 1st 2015 will be at least $100 lower than price on January 1st 2014.
Past performance doesn't guarantee future returns. Future price development doesn't have to resemble the past, just because you draw fancy lines on graphs and look for patterns that aren't there. Only in retrospect does your TA work.
Look at the fundamentals instead. Look at how all the Average Joes are staying away, calling Bitcoin a Ponzi scheme. Look at how governments around the world are banning BTC. Look at how more and more banks are refusing to let their users transfer fiat to BTC exchanges. With no new fiat wired to the exchanges, how is price supposed to rise to the lofty heights you permabulls expect?
I'm calling it now (and you can quote me on this in the future): Price on January 1st 2015 will be at least $100 lower than price on January 1st 2014.
Bitcoin reaching 252,000$ is pure fantascience, I can't imagine such high prices, it would be a dream!
I think it would be great if bitcoin will be valued 252,000$ in 2020, I don't have any problem waiting 6 years 
That is probably unrealistic based on energy consumption alone. More like 2030. Unless the value of the USD drops a lot, then, of course it is totally possible.drop your unrealistic hope, bitcoin will more likely drop to $0.00001 and end before 2016
the bitcoin pyramid scheme bubble has burst
So I will be able to buy 100,000 BTC for a $1? 1,000,000 BTC for a $10? Sweet.the bitcoin pyramid scheme bubble has burst
you won't buy any at all once bitcoin becomes worthless, just like you don't buy any shit altcoins now
I think it would be great if bitcoin will be valued 252,000$ in 2020, I don't have any problem waiting 6 years
That is probably unrealistic based on energy consumption alone. More like 2030. Unless the value of the USD drops a lot, then, of course it is totally possible.drop your unrealistic hope, bitcoin will more likely drop to $0.00001 and end before 2016
the bitcoin pyramid scheme bubble has burst
So I will be able to buy 100,000 BTC for a $1? 1,000,000 BTC for a $10? Sweet.the bitcoin pyramid scheme bubble has burst
you won't buy any at all once bitcoin becomes worthless, just like you don't buy any shit altcoins now
why bitcoin worthed $4xx few days ago? because you didn't buy those "cheap coins" at a higher price, you thought bitcoin was over-price at that time
why bitcoin worths $509 now? because you don't buy it at at a higher price, you think bitcoin is over-price
..
same as $0.00001, you will still think they are over-price or worthless
I think it would be great if bitcoin will be valued 252,000$ in 2020, I don't have any problem waiting 6 years
That is probably unrealistic based on energy consumption alone. More like 2030. Unless the value of the USD drops a lot, then, of course it is totally possible.drop your unrealistic hope, bitcoin will more likely drop to $0.00001 and end before 2016
the bitcoin pyramid scheme bubble has burst
So I will be able to buy 100,000 BTC for a $1? 1,000,000 BTC for a $10? Sweet. the bitcoin pyramid scheme bubble has burst
Dude i'll be like 35 in 2020. Can we go a bit faster? 
I think it would be great if bitcoin will be valued 252,000$ in 2020, I don't have any problem waiting 6 years
drop your unrealistic hope, bitcoin will more likely drop to $0.00001 and end before 2016
the bitcoin pyramid scheme bubble has burst
Dude i'll be like 35 in 2020. Can we go a bit faster?
I think it would be great if bitcoin will be valued 252,000$ in 2020, I don't have any problem waiting 6 years
Dude i'll be like 35 in 2020. Can we go a bit faster?
according to Burt's assumptions, the current exponential growth trend line is way off and we need to slow down considerably.
according to the current exponential growth trend line, we would reach ~250k/btc sometime July 2017.
we'd need to do something like this... (which actually seems reasonable)
according to the current exponential growth trend line, we would reach ~250k/btc sometime July 2017.
we'd need to do something like this... (which actually seems reasonable)
A price of $252,000 in era 0 (50 BTC/block) would have caused the Bitcoin network to attempt to consume about 30% of all the electrical power produced on the planet.
A price of $252,000 in this era, era 1 (25 BTC/block) would cause the Bitcoin network to attempt to consume about 15% of all the electrical power produced on the planet.
So, in order to keep the Bitcoin network from attempting to consume more than 1% of all the power produced we should all hope that the price does not reach that level until at least era 5 - about 2029 or so.
Of course all of these numbers are rough "back of the envelope" estimates:
A price of $252,000 in this era, era 1 (25 BTC/block) would cause the Bitcoin network to attempt to consume about 15% of all the electrical power produced on the planet.
So, in order to keep the Bitcoin network from attempting to consume more than 1% of all the power produced we should all hope that the price does not reach that level until at least era 5 - about 2029 or so.
Of course all of these numbers are rough "back of the envelope" estimates:
Code:
Original target Subsidy Est Fees Power % of total world
Era starting year BTC/block BTC/hour GW power production
--- --------------- ----------- ---------- ------ ----------------
0 2009 50.00000000 0.00000000 680.40 29.44%
1 2013 25.00000000 0.00000000 340.20 14.72%
2 2017 12.50000000 0.00000000 170.10 7.36%
3 2021 6.25000000 0.00000000 85.05 3.68%
4 2025 3.12500000 0.00000000 42.53 1.84%
5 2029 1.56250000 0.00000000 21.26 0.92%
6 2033 0.78125000 1.31250000 13.61 0.59%
7 2037 0.39062500 3.65625000 13.61 0.59%
8 2041 0.19531250 4.82812500 13.61 0.59%
9 2045 0.09765625 5.41406250 13.61 0.59%
starting of 2017 at most.
why that odd number?
18 bits (2^18) is 262,144
18 bits (2^18) is 262,144
24.03.2019
Never!
bitcoin is going to nowhere but down, sell your coins now to cut loose or lose everything you put in bitcoin
bitcoin is going to nowhere but down, sell your coins now to cut loose or lose everything you put in bitcoin
No let's discuss it here
I say 2020
Why?
Mining will be near impossible without big dedicated corporations investing millions.
Mass-adoption would be well on it's way.
I say 2020
Why?
Mining will be near impossible without big dedicated corporations investing millions.
Mass-adoption would be well on it's way.
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