Will bitcoin get over 32 again? | Bitcointalksearch.org

Cluster2k

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Quote from: kwukduck on February 16, 2012, 03:51:12 AM

Well if we can trick enough people into thinking it's not a big ponzi scheme, sure it will get to 32 again

Bitcoin isn't a ponzi scheme. It's just that too many people are playing the market and trying to get new participants that it's exactly what bitcoin looks and behaves like.

kwukduck

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Well if we can trick enough people into thinking it's not a big ponzi scheme, sure it will get to 32 again

Hunterbunter

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Quote from: wobber on February 15, 2012, 04:52:38 PM

I am trying to find out now, if bitcoin will go above it's all-time high this year. We all believe that due to the limited supply of 21 million coins, price for one will be high. But can this happen soon?

Unlikely imo...but like with anything predictions are what the price is all about.

Most people are ignorant of bitcoins, but for them to become knowledgeable about it there has to be some significant advantage in it for them (the greater the advantage, the faster the word of mouth). I'm not sure that really exists until the world fiat financial market actually goes belly up. In which case I hope bitcoins are ready to go.

stochastic

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Quote from: wobber on February 15, 2012, 04:52:38 PM

Ok. Here's what I learned so far since I found bitcoin in it's beggining(sp): it was designed decentralized as a currency (a purpose) but being decentralized it gave the power to the mass and the mass chose to use it as a commodity. Also learned a lot about myself and how I cope with all those emotions. Learned some trading, some economy. Learned that I can make profit by going down too, not just by hoarding.

I am trying to find out now, if bitcoin will go above it's all-time high this year. We all believe that due to the limited supply of 21 million coins, price for one will be high. But can this happen soon?

It won't become more valuable unless people start accepting more bitcoins at sites and community members stop worrying if it is used for grey-market activities. Focusing on bitcoin being accepted at physical stores or on taxi detracts what its true value can be: a medium of exchange of sending local currency online.

Qoheleth

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Quote from: wobber on February 15, 2012, 04:52:38 PM

Ok. Here's what I learned so far since I found bitcoin in it's beggining: it was designed decentralized as a currency (a purpose) but being decentralized it gave the power to the mass and the mass chose to use it as a commodity. Also learned a lot about myself and how I cope with all those emotions. Learned some trading, some economy. Learned that I can make profit by going down too, not just by hoarding.

I am trying to find out now, if bitcoin will go above it's all-time high this year. We all believe that due to the limited supply of 21 million coins, price for one will be high. But can this happen soon?

If, at some point in the future, the USD value of the goods people want to exchange using Bitcoin exceeds the number of coins held by people willing to circulate them by a factor of about 30, then at that time the price will probably reach 30$ again.

The only way for it to happen sooner is by speculation that that time will soon arrive, and any such speculation has a chance of being a bubble (of the kind we saw in June).

So I guess my answer would be that it depends on how quickly the underlying economy grows.

Blind

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If it won't crash and burn before, obviously yes, thanks to limited supply.

But I really hope it won't happen anytime soon, not before ecosystem grows and Bitcoin become actually useful for regular people, otherwise it will just crash as it did last year, putting off even more people.

adamstgBit

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Quote from: wobber on February 15, 2012, 04:52:38 PM

Ok. Here's what I learned so far since I found bitcoin in it's beggining: it was designed decentralized as a currency (a purpose) but being decentralized it gave the power to the mass and the mass chose to use it as a commodity. Also learned a lot about myself and how I cope with all those emotions. Learned some trading, some economy. Learned that I can make profit by going down too, not just by hoarding.

I am trying to find out now, if bitcoin will go above it's all-time high this year. We all believe that due to the limited supply of 21 million coins, price for one will be high. But can this happen soon?

in 10 years, its going to either be 1000$ a coin or 0$

it takes time to make something that is usable by the masses... bitcoin is not their yet, not even close... but its getting better all the time.

wobber

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Ok. Here's what I learned so far since I found bitcoin in it's beggining: it was designed decentralized as a currency (a purpose) but being decentralized it gave the power to the mass and the mass chose to use it as a commodity. Also learned a lot about myself and how I cope with all those emotions. Learned some trading, some economy. Learned that I can make profit by going down too, not just by hoarding.

I am trying to find out now, if bitcoin will go above it's all-time high this year. We all believe that due to the limited supply of 21 million coins, price for one will be high. But can this happen soon?

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