Silk Road forums

Discussion => Newbie discussion => Topic started by: bongtree97 on October 01, 2013, 01:38 am

Title: What are YOUR predictions on the price of Bitcoins?
Post by: bongtree97 on October 01, 2013, 01:38 am
Just curious, what does everyone think will happen to the price? go up/down, stay the same? give reasons why you feel that way too please ^_^
Title: Re: What are YOUR predictions on the price of Bitcoins?
Post by: augustwest78 on October 01, 2013, 01:59 am
If you graph bitcoins vs us dollars  they have gone up in the long run.  they were introduced in mid 2010  and one bitcoin was worth say a nickel,  they are now worth 140 usd.  So in 3 years that is a huge increase. although the rise was quite volitile.  I'm not sure how much of this was due to SR but my guess is that SR and speculators have driven this rise.  So if SR stays healthy, they will continue to rise.   
Title: Re: What are YOUR predictions on the price of Bitcoins?
Post by: bongtree97 on October 01, 2013, 02:03 am
Very astute answer. I always assumed that SR was the main reason Bits were around and that SR inadvertently was manipulating the market, considering thats the only form of payment...
Title: Re: What are YOUR predictions on the price of Bitcoins?
Post by: cryngie on October 01, 2013, 02:08 am
They will go up. As more are minned and the supply gets lower ( more people use and) there are only so many then they will go up
Title: Re: What are YOUR predictions on the price of Bitcoins?
Post by: rosewoodangela on October 01, 2013, 02:11 am
Well, I think bitcoins will continue to rise until the Feds hack SR.

And when it's hacked, the value of bitcoins will plummet...

And then SR will start up again, and it will keep cycling. (That's what I think anyway)
Title: Re: What are YOUR predictions on the price of Bitcoins?
Post by: 4903kmn1d on October 01, 2013, 02:15 am
I hope they continue to go up, more and more services accept bitcoins for payment now and I wouldn't say bitcoins are mainstream yet but getting there. It will be very good for bitcoin once the masses of people realize their power. But who knows really... the outcome of bitcoin will be determined by human actions which we all know are not predictable.
Title: Re: What are YOUR predictions on the price of Bitcoins?
Post by: ianmcshane on October 01, 2013, 02:17 am
I feel like it's only going to get stronger and stronger...

and the it'll collapse. There's either going to be a major flaw, a major shutdown (although I feel that's more unlikely, just a government wet dream) or something better will take a bigger portion of the cake and eventually be all that's used.

It's great for now, and great to invest in, but I have a hard time believing it'll last for so long.
Title: Re: What are YOUR predictions on the price of Bitcoins?
Post by: augustwest78 on October 01, 2013, 04:11 am
I wonder if Ebay/Paypal is looking into bitcoins.  I'm not familiar what/who else currently uses bitcoins besides SR users.
Title: Re: What are YOUR predictions on the price of Bitcoins?
Post by: doubsduces on October 01, 2013, 04:28 am
there's a ton of people hoarding btc as well.  the nature of btc encourages this behavior.  sooner or later there won't be new btc made and the prices will skyrocket.
Title: Re: What are YOUR predictions on the price of Bitcoins?
Post by: ClimberRC on October 01, 2013, 04:42 am
I think they will keep rising, as long as people keep using them.

I wish I would have invested in Bitcoins when they were only like 10 dollars....
Title: Re: What are YOUR predictions on the price of Bitcoins?
Post by: Glitch_in_a_Dream on October 01, 2013, 05:17 am
unpredictable from what I have seen over the past one year

invest for your immediate need
Title: Re: What are YOUR predictions on the price of Bitcoins?
Post by: GreenKarma on October 01, 2013, 12:36 pm
The value of bitcoin will continue to rise over time. Also, there is a LOT more to btc than just buying stuff on SR..
Cryptocurrencies are here to stay. If you're looking for another to invest in at ground floor prices, I'd suggest Litecoin.
Title: Re: What are YOUR predictions on the price of Bitcoins?
Post by: nowthen on October 01, 2013, 04:49 pm
Considering the size of the larger mining groups, the chance of a 51% attack is high. Factor in that no one running a mining group wants the market to fall as it'd royally screw them over too... They even cut off new users and remove chunks to keep the % down sometimes. But then compare BTC mining to SR. Note that even the most appraised sellers can turn bad, to everyone's surprise. Or two/three group leaders could be forced by Feds to make a 51% attack. 51%s have happened before and will happen again only the market is far more mature and has more to lose now. I can't see a way to fix this flaw in the system.

I couldn't say whether it'll go up or down. It really depends on the time scale. I'd say up on a mid-long time scale though.