Bitcoin Price Predictions
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[quote name=“TheTribesman” post=“41851” timestamp=“1386544282”]
Here’s a scenario:At G20, all nations decide to create their own cyber currencies. They pre-mine the entire supply and start trading with each other on new exchanges that they agree to create. They also define these new coins as legal tender.
What will happen in this case?
[/quote]You got to the point pretty quickly. Great post. I think this scenario is real. And if this is the case, it’ll make BTC, LTC, FTC even more valuable - as a commodity investment. Because suddenly there won’t be an influx of JoeCoin or HarryCoin or whatever every week. We’ll be LOCKED IN. Not a bad scenario for us I think.
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[quote name=“StrangeAtoms” post=“41852” timestamp=“1386544524”]
[quote author=bacobob link=topic=5682.msg41850#msg41850 date=1386544214]
Hey all,I think we all can be very happy if it reach the 100€ by end 2014 i think it wont reach
So far my speculation Will be between 10-20 mid 2014, also depends on how other crypt coins keep doing… But 100 will make me Really happy and rich haha…
[/quote]Poll and discussion is for BTC not FTC. People made the same mistake earlier so I may need to clarify it better ;D
[/quote]I’m sorry! To be fair I’m more interested in the FTC predictions; how much the BTC/FTC ratio will be - has anyone studies charts with these crypto’s? I’m not familiar with such thing.
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[quote name=“bacobob” post=“41850” timestamp=“1386544214”]
I’m sorry! To be fair I’m more interested in the FTC predictions; how much the BTC/FTC ratio will be - has anyone studies charts with these crypto’s? I’m not familiar with such thing.
[/quote]Well I consider Bitcoin to be the father of all cryptocurrencies. When the price of Bitcoin goes up, so do all other cryptocurrencies. We have seen that much when BTC got over $1000 and FTC got up to $0.90. It also impacts all other crypto’s which is why I created this post.
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[quote name=“tomstammis” post=“41869” timestamp=“1386553184”]
I’m sorry! To be fair I’m more interested in the FTC predictions; how much the BTC/FTC ratio will be - has anyone studies charts with these crypto’s? I’m not familiar with such thing.
[/quote]Mathematically.
If BTC = 100
LTC = 20
FTC = 5Of course, If Feathercoin has 10 times more users than Bitcoin then
BTC = 100 FTC = 50
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As long as FTC counts on BTC to go up we’re screwed - or at least limited. Because then it’ll only be thought of in terms of outstanding coins available and who was first to the punch, etc. And not innovation which in the end will triumph. My issue since joining this forum last week as a small time investor has always been one thing: don’t value FTC as a currency. Major mistake. It’s limited that way. If it’s a currency you’re automatically pegged to fiat. And as we have seen with BTC, the only reason why BTC achieved it’s rise was because it started to obtain a fiat valuation. - “Did you hear Bitcoin went up to $1200 last week” - would anyone care about BTC if it didn’t equal such and such in euro, dollar, pound equivalency?
Yet- when you value it as a digital commodity you leave the horizon wide open. Because what is a “digital commodity?” [u]It hasn’t been defined yet[/u]. And this is the most exhilarating question about it all. If you want it to be stuck in the $1-$2 range call it a currency. If you want it be better then Bitcoin then bring on the media blitz through sheer uniqueness. Fourth power media = crypto success (in the early stage). Braving the elements, will only result in being passed by. Crypto is in danger of being a fad if crypto developers take the conservative long haul approach. Other cryptos will innovate and move faster. The mainstream will get DIZZY as more cryptos come out every day as “currencies” and [u]ironically devalue the entire mechanism[/u] - the more cryptos the less credibility for the movement. Crypto will be a punch line.
Digital commodity is undefinable. FTC could be become a complex system if it wanted to be. It could become what fiat and crypto could only dream to be.
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[quote name=“Horizon” post=“41866” timestamp=“1386552511”]
You got to the point pretty quickly. Great post. I think this scenario is real. And if this is the case, it’ll make BTC, LTC, FTC even more valuable - as a commodity investment. Because suddenly there won’t be an influx of JoeCoin or HarryCoin or whatever every week. We’ll be LOCKED IN. Not a bad scenario for us I think.
[/quote]JoeCoin and HarryCoin give us freedom from trading through the system. A currency doesn’t even have to last. It just has to serve its purpose.
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[quote name=“Horizon” post=“41885” timestamp=“1386555528”]
Digital commodity is undefinable. FTC could be become a complex system if it wanted to be. It could become what fiat and crypto could only dream to be.
[/quote]FTC already is doing this. LINK protocol and FLUX module.
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Joe and Harry will devalue us. All this from a non-miner point of view though which is a difference maker. Clearly, if I’m a miner I want more coins everywhere, with any label, and just like SF in the 1800s you find your exchange and trade em in, and move on…
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Joe and Harry coins won’t change much only because no one views them as a currency for the most part. For example no stores or businesses accept either of them, many people don’t know what they are, and even if the value of them does go up, there is no reason why they would devalue FTC. From what I can tell is when people actually get into cryptocurrencies the value goes up for all of them, not just the first one they investigate. From a miners perspective many of us do it for fun rather than profit.
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[quote name=“Horizon” post=“41919” timestamp=“1386568602”]
Joe and Harry will devalue us. All this from a non-miner point of view though which is a difference maker. Clearly, if I’m a miner I want more coins everywhere, with any label, and just like SF in the 1800s you find your exchange and trade em in, and move on…
[/quote]It does not.
It allows people to get things they need without having to beg a big coin for help.
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Bitcoin price to settle? I dont think it will settle at all…not now.
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[quote name=“mirrax” post=“41927” timestamp=“1386571261”]
Bitcoin price to settle? I dont think it will settle at all…not now.
[/quote]We are discussing the distant future. If Bitcoin doesn’t settle then its long-term success likely won’t be achieved.
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[quote name=“Pyxis” post=“41937” timestamp=“1386574707”]
[center][img]http://31.media.tumblr.com/tumblr_m8bdrxBO9o1roc7alo1_250.gif[/img][/center]
[/quote]If only that would happen… I would be a millionaire
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[quote name=“StrangeAtoms” post=“41929” timestamp=“1386571717”]
[quote author=mirrax link=topic=5682.msg41927#msg41927 date=1386571261]
Bitcoin price to settle? I dont think it will settle at all…not now.
[/quote]We are discussing the distant future. If Bitcoin doesn’t settle then its long-term success likely won’t be achieved.
[/quote]That depends on how you measure success. If by success you mean it gains widespread adoption, then a steady price isn’t required. People are good with an asset class that constantly appreciates in value.
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If that was the case then why did the world switch to one that for the most part doesn’t change? Why not just use gold as a means of currency? For the average person, Bitcoins are FAR too complicated. Even though we may not think it is, the average person doesn’t want to deal with it.
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apparently i missclicked and voted for the first choice(1-99) instead of the last choice(>1000). dont ask me how that happened :S !
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Pyxis
+1 rep
and
A Double Highfive for the Dr Evil reference! -
[quote name=“StrangeAtoms” post=“41954” timestamp=“1386579899”]
If that was the case then why did the world switch to one that for the most part doesn’t change? Why not just use gold as a means of currency? For the average person, Bitcoins are FAR too complicated. Even though we may not think it is, the average person doesn’t want to deal with it.
[/quote]Um… they didn’t. They switched AWAY from the “gold standard”. Read up about “Nixon Shock”.
Of course the average person doesn’t want to deal with it. You know what else people don’t want to deal with? IP addresses, DHCP leases, frame relaying, ping timeouts, corrupted streams, html tags, cookies, and about 10,000 other technical details that make the web function. Yet, somehow, technology advanced so rapidly that these things became an inseparable part of our every day lives, and people barely even know these things exist. They just push the button, and read their mail. And soon, people will push the button, and pay for things with Bitcoin.
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When I said that they switched I meant from trading commodity goods to a fiat currency. For the most part that doesn’t change. The inflation is there, however it isn’t significant as it is with Bitcoin going from $120 to >$1000 back to $800 in a matter of weeks.
