Quote from: bitebits on December 03, 2017, 12:04:20 PM

Quote from: HairyMaclairy on December 03, 2017, 11:07:17 AM

Im a harder bull than many in this thread. I have a 5 year price forecast of US$150 - 500k. The reason is because I believe that Bitcoin has been mischaracterised as an asset when it is really a financial instrument. In the period 2000 - 2007 the global value of CDOs rose from $69 billion to $1.7 trillion. Bitcoin could easily do the same except it is starting from a higher base and has the potential for much greater capital inflows and higher market cap because it is also traded by retail investors. So I put the market cap at $2 trillion to $5 trillion after 5 years. This is without any disruption of the existing market system - ie the value of the US dollar remains much the same. I have assumed for these purposes that the number of generated, non-lost, non-dust Bitcoins is somewhere less than 12 million.

I come off as a bear sometimes as I am a big fan of Nicholas Taleb in the book The Black Swan. Looking for black swans is a bit of a hobby.

In any event, come what may, I enjoy the company of everyone on this thread as we share this historic journey.

Besides your interesting viewpoint, making the highest future price prediction is not what qualifies you as 'a harder bull than many'. Especially during an incredible bull market. Holding on to and accumulating bitcoins, whether it goes up or down (for years), does. Most bulls eventually break and reduce the risk, especially if you have a serious stash.

Quote from: AlcoHoDL on December 03, 2017, 08:40:03 AM

In short, personally, I'm planning to liquidate half of my BTC stash at the time when the fiat value I will get is enough to allow me to quit my job and pursue an independent career in my field. The other half I will keep, in the hope that BTC will eventually become something much bigger than it already is.

Reminds me of this post ($1200) by former reddit moderator (?) jratcliff63367. And Elwar ($4500). We almost all have our fiat breaking point even on a Bitcoin forum, and I already hate my future self for it. It gets tempting when reducing your holdings by 50% still sets you for life.

To add to the bullish sentiments but as well for the bigger picture, I can recommend reading this article by Miguel Cuneta (Co-founder at Satoshi Citadel Industries (sci.ph): https://decentralize.today/dont-fall-for-the-hype-why-bitcoin-s-10-000-price-doesn-t-reflect-its-true-value-6b42a59fce0a

You sold at 4500 half of bitcoins? was that at time when it went down from 5000 before it 1st reached 5000 ?
Can you give me your thoughts on this, can this be a problem at some point when bitcoin gets bigger and bigger ?

Code:

https://www.rt.com/business/411777-bitcoin-mining-electricity-states-power/

I am not woried to much about bitcoin hitting the floor, but this article give me some thinking, opened some point of view and possible problem that i didnt saw before (in case if like bitcoin gets 10 times bigger)
My thinking is otherwise bitcoin is still at point where many people still dont even know for it, i am in some middle developed europian country, and i had conversation about bitcoin with like 20 people in last 2 months and only 1 of 20 had some significant knowledge about it, half of them didnt know nothing about bitcoin, so from my point of view i can only see bitcoin going up and up because its getting more and more media coverage and there are so many people who can and will jump in