11-07 14:14 - 'Here’s how we can achieve my price target of 28$ XRP The simple 2015 fractal looks to be in play 👀 (it could take longer to develop) All I know is that I hold some' (i.redd.it) by /u/pubgmoments7 removed from /r/Bitcoin within 4-14min
The outer limits of bitcoin price speculation: a nearly vertical move from current levels to $500,000 a coin at the end of 2015. What would the world say if this Black Swan actually happened?
https://bitcointalk.org/index.php?topic=800330.0 It sounds ludicrous, and I don't necessarily believe it. But I'm trying to imagine what it would be like if this really happened. Media would explode, and all the pundits would quickly change their tune. "Well, it's an entire currency exploding into the modern world, a move like this should have been foreseeable." Institutions would justify spending thousands and then tens of thousands of dollars per coin because that asset will be so hyper-rapidly increasing in value it makes complete sense. This basically is the legend of bitcoin hyperadoption. When the tipping point of bitcoin adoption spills over from technical startup to full on global levels. Governments recognize a way to finally be a recognized international force, and private institutions see a way to become more powerful than they ever imagined. And the little man? Me and you? You think we will resist selling our $380 bitcoins for $10,000 or even $50,000? Most will not. This would be the black Swan of a lifetime, and it's not impossible. Just unlikely. Just like all black swans.
I haven't made another poll for a few months now, so time for another one. The results of last poll were pretty good - most of you seem to be making money. See results. Since you were pretty good, I'm wondering what price prediction powers this subreddit has. Vote now
This graph shows Bitcoin price and volume (ie, blocksize of transactions on the blockchain) rising hand-in-hand in 2011-2014. In 2015, Core/Blockstream tried to artificially freeze the blocksize - and artificially froze the price. Bitcoin Classic will allow volume - and price - to freely rise again.
http://nakamotoinstitute.org/mempool/how-we-know-bitcoin-is-not-a-bubble/#selection-59.4-68.0 (Scroll down to see the graph - also note there is a typo in the legend: "Bitcoin market map" should say "Bitcoin market cap[italization]".) Without artificial limits, Bitcoin volume and price are naturally and tightly correlated. This tight, lockstep correlation between those two lines during 2011-2014 has been absolutely amazing - one of the tightest correlations you'll ever observe in any dynamic system anywhere, in economics, sociology, or nature. Price and volume rose (and fell) hand-in-hand for 4 years straight - one of the most majestic examples of emergent phenomena in the whole history of economics. Left to run its natural course, this graph would probably have continued in lockstep, and thus would have eventually gone into the history books of future generations, marking the inexorable emergence and dominance of the cryptocurrency known as Bitcoin - the inevitable triumph of humanity's first decentralized and permissionless store of value, medium of exchange, and unit of account - steadily rising through the years in price and volume - and in usefulness. Then in late 2014, a new company called Blockstream tried to block this natural progression. The oligarchs behind the ancien régime of debt-backed, violence-enforced infinite fiat thought they had figured out a clever way to attempt to make their last pièce de résistance while making some money too. They brought out their their usual grab-bag of assorted dirty tricks which they typically use to take down any new social or economic or political movement that promises to liberate people from the stranglehold of private central bankers:
They bought off the Core developers, bringing them into the Blockstream corporation, with a measly initial $ 21 million in funding, and now adding another measly $ 55 million (mere chump change compared with the tsunami of trillions of dollars in wealth which Bitcoin's market cap could eventually represent).
They figured out how to "play" the Core devs like fiddles, turning them into "useful idiots": taking advantage of their cypherpunk sensibilities and economic innocence in order to trick them into thinking that the only metric of decentralization was "The blocksize must remain small enough for Luke-Jr to run a node over a slow-ass internet connection in the backwaters of Florida" - while making them ignore all other metrics, in particular: decentralization of mining, and price & adoption.
So far, Blockstream thinks they're winning in their battle to control Bitcoin.
They succeeded (during 2015) in splitting the community, maybe even creating even a few more useful idiots in the process.
They succeeded (during 2015) in suppressing the price: as you can see by observing how the lockstep correlation between price and volume diverged in 2015, with the price now lagging and sagging below the volume for the first time ever.
https://imgur.com/jLnrOuK But can they keep spreading around their fiat and FUD to continue fooling all the people all the time? Probably not. Because... Now you can choose to run a repo without Blockstream's artificial scarcity on blocksize and transactions on the blockchain. Now, instead of running the Bitcoin Core repo from Blockstream, you can run any one of these another tested and deployed repos, which do notartificially limit the blocksize to 1 MB:
Bitcoin is a natural, market-based and community-based, emergent phenomenon. At its heart, in the words of Satoshi Nakamoto, Bitcoin is a P2P Electronic Cash System where Alice "A" can send to Bob "B" some amount of Coins "C", secured via a cryptographic signature. It may come as a shock to certain people's egos, but even if most of the devs were to suddenly stop working now - the current system would probably work fine for the next few years - with investors and businesspeople continuing to gradually increase the price and volume in accordance with the desires of the worldwide market, and miners and full-nodes continuing to gradually increase the "max blocksize" in accordance with the capacity of the worldwide infrastructure - and everyone continuing to innovate and participate in the growth of the system in accordance with the desires of the worldwide community. Bitcoin doesn't really need a whole lot of interference from devs trying to centrally plan what the "max blocksize" should be - or mods trying to centrally control what the "consensus of opinions" should be. These kinds of things are better left to just naturally emerge on their own. Central planning and control are not needed. As we have already seen, when the market is allowed to determine Bitcoin price and volume on its own, they both naturally go up, hand-in-hand - while the value of centrally-planned fiat goes down and and down. And when the community is allowed to determine upvotes and downvotes on its own, the quality of debate naturally goes up - while the quality of centrally-controlled debate on censored forums goes down and down. We all know that Bitcoin is supposed to be trustless and permissionless. Bitcoin development should also be egoless. As a dev or a mod, it's hard to "step aside" and let the market or the community decide. It's much more tempting to interfere: enforce a limit here, delete a comment there. But the market and the community are emergent phenomena. They work best when devs and mods learn to put aside their egos and "step back" and let the market and the community do what they will. This is the raison d'être of Bitcoin Classic, Bitcoin Unlimited, and Bitcoin XT: learning to let the market and the community decide again - learning to step back again, and let the price and volume go up again, with no unnecessary interference from devs or mods. https://imgur.com/jLnrOuK
One thing I've been learning about is binary options. And I discovered a curious fact: Currently you can buy a contract at Predictious [https://www.predictious.com/economics/price-of-bitcoin-2015-end/more-than-800usd] for "Price of Bitcoin end of 2015 to be more than $800" at 1.25 mBTC and receive a payout of 10 mBTC if the contract is realized. The implied probability is 12.5% and the payout is 1/0.125 = 8x. So far so good, right? But the payout depends on your starting point: if you start with USD, then buy BTC, bet, win, and finally convert back to USD, then your payout is at least 24x because the value of bitcoin must have at least tripled from the current $240 to $800! Is my logic correct? Is this not surprising? p.s. In case you're new to binary options, here is a video I made about them: How Bitcoin Helps Predict Black Swans [https://www.youtube.com/watch?v=VFiz7bZmxP0]
What do you think will be the price of 1 bitcoin in January 1st, 2015?
This question is based on the The Wisdom of the Crowds theory. Please write your answer in USD and avoid lengthy comments. Thank you. We will publish the results after we get at least 100 responds. EDIT: So far the wisdom of the crowds predict 1 bitcoin will be valued in $1802 by January 1st, 2015 (which is in 4 month)
Here is the trend line for the prices since May 1 2015 (where the slope=0). I like to think this is where the exponential growth of Bitcoin begins. The two graphs show a constant y-axis and a logarithmic one, which especially excited me. Hope the trend continues :P
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Celebrating my fourth Bitcoin Pizza Day today. The price has been significantly higher for three out of the past four years. 2014: $520, 2015: $237, 2016: $440, 2017: $2200, 2018: $8230. HODL! /r/Bitcoin
A Bitcoin wallet can be a lot safer than a bank account. Cypriots learnt this the hard way when their savings were confiscated in early 2013. This event was reported as causing a price surge, as savers rethought the relative risks of banks versus Bitcoin.. The next domino to fall was Greece, where strict capital controls were imposed in 2015. Bitcoin Price in 2015. The price of Bitcoin in USD is reported by Coindesk. All prices on this page are nominal (i.e., they are not indexed to inflation). For price history since Bitcoin was first traded on exchanges in 2010, click here. Bitcoin Price Chart, 2015 This graph shows the conversion rate of 1 Bitcoin to 1 USD at the first of each month. Bitcoin Price in 2015 ($) Bitcoin Price Table ... Eine Bitcoin-Wallet kann viel sicherer als ein Bankkonto sein. Zyprer haben das auf die harte Tour gelernt, als deren Ersparnisse Anfang 2013 beschlagnahmt wurden. Dieses Ereignis war Berichten zufolge der Verursacher eines Preisanstiegs, da Sparer die relativen Risiken von Banken gegenüber Bitcoin überdacht haben.. Der nächste fallende Dominostein war Griechenland, wo 2015 strenge ... Bitcoin price (BTC) Add to Watchlist $ 13,070.01 +0.56%. 1h. 24h. 1w. 1m. 1y. all. $0.0000 January 1 12:00 AM. 10:56 AM 3:06 PM 7:17 PM 11:27 PM 3:38 AM 7:48 AM. Market cap $ 242.4B. Volume (24 hours) $ 23.6B. Circulating supply 18.5 M BTC. About Bitcoin. The world’s first cryptocurrency, Bitcoin is stored and exchanged securely on the internet through a digital ledger known as a blockchain ... The price of a bitcoin has been on the rise of late, but the year wasn't all good news. Let's look back to the few highs and many lows of 2015.
Future Price Prediction of Bitcoin and Cryptocurrencies ...
Click on the time beside each currency to skip ahead and watch the commentary and review of the technologies and the price charts as we try and determine which might be the best investments in 2015. Bitcoin price outlook. #BTCUSD This pair (BTC/USD) shows such beautiful price patterns and it offers a very attractive risk reward ratio as described within a video. I share some of my learnt ... 😱This Guy predicted the Price of Bitcoin in 2015!😱 sunny decree. Loading... Unsubscribe from sunny decree? Cancel Unsubscribe. Working... Subscribe Subscribed Unsubscribe 122K. Loading ... A video on the future price of Bitcoin, and prediction of the value of cryptocurrency technology at large. I've included my favorite model, illustrating a de... Published on Jan 4, 2015 There are a lot of ups and downs right now but its important to take perspective on Bitcoins success. Please watch: "EXSCUDO WEEKLY #20- Crypto Currency World Expo ...