Re: I need bitcoin to be $690 to break even.....will I make it?
5 years would be ideal... after that I might give up
If you're still valuing your bitcoins based on an exchange rate, you're doing it wrong.
How else would I measure its purchasing power? If I don't value it by its purchasing power how else should it be valued??
Exchange rate != purchasing power.
Purchasing power parity is tough to determine, the Big Mac index that the Economist publishes is your best bet. What you should do is look at how many BTC are required to buy 1 Big Mac over the next 5 years (on average). You'll know deep in your bones what inflationary vs. deflationary means then
How do you figure the exchange rate isn't equal to purchasing power? Whether you exchange 1 BTC for $260 or several dozen Big Macs, the exchange rate is $260 or several dozen Big Macs respectively. The purchasing power of any currency is whatever you are able to exchange it for.