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Topic: Where else can the price go (in the long term) but up? - page 2. (Read 2908 times)

legendary
Activity: 1904
Merit: 1038
Trusted Bitcoiner

Many things can go wrong for bitcoin:

    - some large govt makes makes it illegal (eg US, China, EU)
    - exploit in protocol (unlikely)
    - exploit in deployed code (likely)
    - a better (more features) coin appears that makes people switch
    - another GOX security breach
    - SR gets taken down by the fed
    - 51% attack
    - coordinated cyberwarfare by funded opponent (governments).
    - people finally discover how hard it is to hold on to their coins in face of determined hackers
      (i.e. not the script kiddie level hacks we've seen so far), but stuff at the level of stuxnet
 
etc ...

The future is unpredictable.
By definition.


I think you forgot the most important one. People get bored, sell the btc, and go do other things.
Price of btc falls and this miniscule group of people keep proclaiming btc will go big this year.

LOL my father said at 6 point crazy:  "i will buy again, when it comes back down"  i told him "ya i really dont see that happening" he says "Ya ya people will get board and sell soon."

Right....

legendary
Activity: 2072
Merit: 1001

Many things can go wrong for bitcoin:

    - some large govt makes makes it illegal (eg US, China, EU)
    - exploit in protocol (unlikely)
    - exploit in deployed code (likely)
    - a better (more features) coin appears that makes people switch
    - another GOX security breach
    - SR gets taken down by the fed
    - 51% attack
    - coordinated cyberwarfare by funded opponent (governments).
    - people finally discover how hard it is to hold on to their coins in face of determined hackers
      (i.e. not the script kiddie level hacks we've seen so far), but stuff at the level of stuxnet
 
etc ...

The future is unpredictable.
By definition.


I think you forgot the most important one. People get bored, sell the btc, and go do other things.
Price of btc falls and this miniscule group of people keep proclaiming btc will go big this year.
legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
I think that last years $31 is very unlikely to be bitcoins all time high.

This much is a mathematical certainty because of the inflation on fiat. The question is will it get back to $31 in 2011 value (the silver parity proposal is interesting in that regard)? I do think so and agree it will be within the next 4 years.

Certainty?


Certainty can be defined as either: perfect knowledge that has total security from error, or; the mental state of being without doubt.

I have to agree... if the dollar keeps losing value bitcoin will go up.

you dont think so?

actually one could argue that future fiat inflation is already calculated into today's price

IMO, no its not.

1 btc = 8$ of value
1btc != 8$ of value 4 years 3.5 months from now

the market wont look that far ahead.

Yes on halloween 2012 Bitcoins will be worth more than $8  Grin
legendary
Activity: 1904
Merit: 1038
Trusted Bitcoiner
I think that last years $31 is very unlikely to be bitcoins all time high.

This much is a mathematical certainty because of the inflation on fiat. The question is will it get back to $31 in 2011 value (the silver parity proposal is interesting in that regard)? I do think so and agree it will be within the next 4 years.

Certainty?


Certainty can be defined as either: perfect knowledge that has total security from error, or; the mental state of being without doubt.

I have to agree... if the dollar keeps losing value bitcoin will go up.

you dont think so?

actually one could argue that future fiat inflation is already calculated into today's price

IMO, no its not.

1 btc = 8$ of value
1btc != 8$ of value 4 years from now

the market wont look that far ahead.
legendary
Activity: 947
Merit: 1042
Hamster ate my bitcoin
I think that last years $31 is very unlikely to be bitcoins all time high.

This much is a mathematical certainty because of the inflation on fiat. The question is will it get back to $31 in 2011 value (the silver parity proposal is interesting in that regard)? I do think so and agree it will be within the next 4 years.

Certainty?
hero member
Activity: 588
Merit: 500
firstbits.com/1kznfw
I think that last years $31 is very unlikely to be bitcoins all time high.

This much is a mathematical certainty because of the inflation on fiat. The question is will it get back to $31 in 2011 value (the silver parity proposal is interesting in that regard)? I do think so and agree it will be within the next 4 years.
sr. member
Activity: 457
Merit: 250
Look for the bear necessities!!
Where else can the price go (in the long term) but up?

Where can USD go but down?

Ftfy
legendary
Activity: 947
Merit: 1042
Hamster ate my bitcoin
I think that last years $31 is very unlikely to be bitcoins all time high. I would expect that it will be surpassed within the next few years.
legendary
Activity: 1736
Merit: 1006

The future is unpredictable.
By definition.


I could get hit by a car tomorrow. These are the dangers we all face.

Its no reason to avoid bitcoin.
legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
Agree 100%. I started buying BTC steadily since April because I've been predicting an intensifying loss of confidence in the world's financial systems and currencies for some time now. It's become laughable - there is a new scam revealed pretty much every week, yet somehow everything goes on business as usual. I'm thinking it's going to really start unravelling by late September - the traditional month for banking crises.

I think there will be a flood into Bitcoin especially seeing as how the metals are so manipulated right now. It's also becoming more and more convenient for people worldwide to convert to Bitcoin by depositing cash locally.

+1
full member
Activity: 223
Merit: 100
Agree 100%. I started buying BTC steadily since April because I've been predicting an intensifying loss of confidence in the world's financial systems and currencies for some time now. It's become laughable - there is a new scam revealed pretty much every week, yet somehow everything goes on business as usual. I'm thinking it's going to really start unravelling by late September - the traditional month for banking crises.

I think there will be a flood into Bitcoin especially seeing as how the metals are so manipulated right now. It's also becoming more and more convenient for people worldwide to convert to Bitcoin by depositing cash locally.
legendary
Activity: 1246
Merit: 1016
Strength in numbers
legendary
Activity: 1624
Merit: 1021
legendary
Activity: 2492
Merit: 1491
LEALANA Bitcoin Grim Reaper
With the following list I can't see how prices can remain below $7/btc by December 31st of 2012:

1. Block reward having (i know i know repeating it a million times)

2. More efficient mining equipment to hit the market inevitable as technology gets better and miners seek to have the "edge" over others.

3. Price rising without any news media hype.

4. With elections in a few months and our financial system in turmoil I can see stocks tanking, USD exchange markets tanking, gold and silver price taking a hit via manipulation (possibly).

5. (i'm sure that I've forgotten something....but oh well you get the picture)


Note: Recent volatility we saw today between $7.40 and $9.50 is nothing just looking at previous price movements.

 Wink

"keep stacking bitcoins"
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