Silk Road forums

Discussion => Security => Topic started by: mrxempire on April 19, 2013, 02:50 am

Title: if bitcoins become a succesful currency how high do you think the price will go?
Post by: mrxempire on April 19, 2013, 02:50 am

If bitcoins end up becoming as big as some people are predicting, do you think we will see a vast increase in the price of a coin? Like, could we see bitcoin prices rise to 1000 per coin, or even higher? If that was the case, everything we purchase would be in fractions of a bitcoin, which seems a little strange to me. The reason I ask this is because yesterday I invested a decent amount of money into bitcoins with the intention of reselling when the price got close to about 200 per coin, but if there is a good chance that the coins will continue to increase in price without crashing, then maybe i'll hold onto them for a bit longer muahahahah

Title: Re: if bitcoins become a succesful currency how high do you think the price will go?
Post by: astor on April 19, 2013, 04:03 am

Nobody knows.

Here's an interesting thing about the market. If it were widely known that bitcoins will increase in value to $500 by the end of the year, everybody would buy bitcoins until they increased to $500 right now. The current market price is exactly what most people believe bitcoins are worth, or will ever be worth. Yes, some people believe they will be worth more, but the reason they are able to buy them is because other people are selling them, believing they will be worth less. The weighted average, minus a few technicalities, is exactly the last trade.

BTW, I like your sig.