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Board Beginners & Help
Re: will the bitcoin reach $1000 one day...?
by
greenlion
on 15/02/2014, 06:23:22 UTC
Now the question would be, will the bitcoin price reach $10,000 one day?

A lot of people think so here:http://d.pr/tzlI

This guy bets 57 BTC on it :O

30-11-13 20:40    Yes    99`886    57.00000000    13Pko    /    1K4Fs    

if he bets this touch 10,000 then I am feeling sorry for him because its not going to touch this figure in 2014

This prediction market bet does not function like a regular bet.

It's actually a derivative in disguise. Betting "No" acts as an insurance policy against Bitcoin not reaching $10,000. Depending on how much of your total holdings you bet on no, this could actually operate like a put option.

As such the distribution of the bets does not necessarily correspond to the actual beliefs of the betters.