Just one other prediction: :eek: http://www.marketwatch.com/story/6-market-surprises-for-2014-2013-12-24?link=sfmw
The guy is a complete retard. The last person who priced oil not in dollars but in euros was called Saddam Hussein and his country was promptly overran and he was executed... Pricing oil in bitcoin would mean the end of bitcoin. Not to mention there isn't enough bitcoin around for that....
Sure he is...but that's the intention of this thread: post your predictions...and see in a year from now, who was closest to the truth ! And by the way: there is surely enough BTC for any market As well for his idea.
Retarded aside, there are plenty of bitcoins - remember each is divisible...there are 2100 trillion btc units, call it microbtc, picobtc, whatever you want. It is one of the most common misconceptions that there are too few bitcoins, when the demand requires it 1 bitcoin can be easily divided into more units. Instead of trading 1 btc for $100mil you will trade 1 microbtc for $100 etc...
Ahhhh, where are the days when we could exchange a chicken for salt or cereals for milk? Now soon we will be able to buy chickens with bitcoins, that is with money created by a freaking computer. The ultimate bullshit, fantasy money! What happened? Have we lost all sense of values ? Have we all gone mad? Sometimes I wonder...
All value is subjective and expressed by it's usefulness. Do your homework and you will learn how useful computer-money is. And, you can translate your quote to this as well: we are able to buy chickens with USD, that is with money created by a freaking FED. The ultimate bullshit, fantasy money, printed 85 billion per/month for years out of air!
Well, yes and no. What most bitcoiners don't get that divisibility only works if price is going MUCH higher. If bitcoin stabilizes around $100, then no, there isn't enough bitcoin to deal with huge oil deals. If you divide a penny by 100 it is still a worthless piece of size. Today you can not buy anything for a penny, much less for 1/100th of a penny... On the other hand since there are other alt coins, the scarcity issue is also irrelevant because LTC could be used, thus having 100 million coins instead of 21....So having alt coins is a better argument against scarcity than divisibility... Of course having alt coins is a bad argument against not printing more money...
??? do you really believe that it will stabilize around $100, in the unlikely event that oil market switches to btc..... of course not... the supply/demand law will skyrocket the price.
It was an example, but my long term (5 years) prediction is that no digital currency will be worth more than $100 for various reasons* by 2018... My 2014 prediction is (after all this is a prediction thread) that price won't go over $2000. My previous top call was for 1600ish so I will just stick to that. As a low, it will go below $200..... *if you care, I will elaborate, but basicly the prices of alt coins will even out....
Hoi, I have been following your Bitcon posts with interest ... well thought out stuff. But the one thing I take issue with is your opinion that it is irrelevant if there are a few large holders or many holders. I think it is always a good idea -- if you can -- to know how the float is dispersed. Meanwhile I look forward to your future comments. You clearly are on top of this.