It looks like the real testing of the log chart's association with bitcoin values is about to begin. In order to stay close to the chart values in 2015 would have to ride the model from $6xxx at the beginning to $88xxx at the end of the year. That alone would be absolutely phenomenal, and I can't imagine what kind of impact that would have on our economy, but 2016's log growth is from $88xxx to $581xxx. That kind of math is just silly.

Is this even realistically possible? Everything about the idea seems unfathomable and unrealistic to me. I know, I know. 2013 saw Bitcoin grow from $13 to $1100, but that total market cap was still relatively small. For a single Bitcoin to be worth $581xxx the market cap would be phenomenally high.

Unless they need a car. If I need a car I will buy when I need it no matter what that money can do in the future, because I need it now. If I merely would like a better car, but could wait for that better car another year or two while their price drops/my purchasing power rises I will wait. This seems like it would be good for the world to deter overconsumption, build more rugged products in the first place, and maintain what we already have.

Bitcoin has made me a nervous moron.

Did anyone else download this? I accidentally downloaded it and opened it before I realized what I did and now I'm afraid to use that computer.

I agree. 18 months ago there were a lot of people who had very modest to "All-in" bets on Bitcoin, but still had to work their day jobs to pay bills. In the last year and acquired some serious purchasing power and are probably spending some of it whether or not they are still working their jobs. I know after we go another 10x I will definitely be spending, but right now I'm hodling.

Mainstream media has been taking about Bitcoin a lot more in 2014. Last year the few times it was mentioned it was always almost only a joke or a scam.

Large corporations like Dish and Dell are starting to accept Bitcoin as a payment through Coinbase and Bitpay, as well as smaller but still very big businesses like Overstock, Tiger Direct, and New Egg. Younger businesses like Shopify "get it".

I think we are approaching "The Chasm". I'm a 20-something in a college city. This year I have instigated friends of mine to purchase over $50,000 in Bitcoin. They see it as an opportunity to invest in the future once they really start to understand it. I work in coffee. None of those friends are tech oriented. They are the second generation - and when they make some money from this investment I think THEY will be the catalyst for the post Chasm early adopters and early majority.

Ha by the time it came out I was completely over it. Didn't even care anymore.

How many of you have traveled to developing countries? Most of the world is not sitting in the cubical playing armchair philosopher. They're raising families and focusing on the necessities. And as unbelievable as it may be from our first world pedestal a lot of them are very happy with their simple lives.

I grew up in the American countryside. Some of my best friends still hunt and farm for their meat and eggs, and grow vegetable gardens for their vegetables. They'll spend some mornings on their boats fishing... while taking calls and photos on their iPhone.

Technological efficiency in free market capitalism will make many of our current jobs obsolete, but people will keep finding ways to survive, create, and enjoy their life. I don't believe socialism is the answer to "How will the masses get their Cornflakes?"

Tim is a smart guy; I've liked him for a couple years. I'm looking forward to when he can speak confidently and knowledgeably on the topic.

I had spent a lot of time worrying about when to sell or if I would. When I finally sat down and read rpietila's "(SSS) - A Sane and Simple bitcoin Savings plan plan" thread (https://bitcointalk.org/index.php?topic=345065.0) I felt like I could move forward confidently.

With a plan like that I feel like I can reward myself with smaller rewards along the way, and still experience exponential growth through the end.

I made a Google spreadsheet template if anyone wants it.

https://docs.google.com/spreadsheets/d/1ImKoEk72HK7zuOf3FBa2mbcf6qxoe7tmvWgYIWwwnPM/edit?usp=sharing

On the template I put a 5%, 10%, and 20% rake at doubling intervals. Right now the first rake is set at $1000, but you can adjust it to what works for you. I personally have my first rake set at $4000. I'm hoping that happens later this year.

EDIT: After reading JayJuanGee's suggestion I added a way to choose your own multiplier and rake rather than having presets.

Either way the big picture is - the more people using Bitcoin and the more value/wealth being stored and transferred using Bitcoin - the more value a single unit of Bitcoin has. So evangelize the masses and put all yo' monies in BTC!   

This summer I moved over everything that's not tied to my real estate investments (equity). I use that equity to buy more real estate.

After the next rally I'll probably use some (~10%) profits to buy another 4-plex/4-flat, but leaving most (~90%) of it in BTC. Bitcoin is awesome, but I still love using OPM (other people's money) in real estate.

Seriously. That range would solve a lot of problems for me if we see it this year. I've been considering going back to school for mathematics/cryptography after following bitcoin the last 18 months. One more hard rally and I would feel comfortable focusing on school full time and not working full time.

So if the trend is correct and if it continues, now is the time to buy.

If we go from .50 below trend to .50 above trend in the next couple months... 

Heck even a year ago that would've been big news.

Of course any half of us could be wrong at some point this year, but with the amount of media, venture capital, and development happening I doubt we're on a year long bear trend. I'm not saying we have to go to $5k this year, but at some point this ship is gonna start sailing north.

There are some great quotes in that book. I'm gonna have to add it to my reading pile.

http://en.wikipedia.org/wiki/Reminiscences_of_a_Stock_Operator

Here are a couple of my favorites:

"Old man Partridge's insistence on the vital importance of being continuously bullish in a bull market doubtless made my mind dwell on the need above all other things of determining the kind of market a man is trading in. I began to realize that the big money must necessarily be in the big swing. Whatever might seem to give a big swing, initial impulse, the fact is that its continuance is not the result of manipulation by pools or artifice by financiers, but depends upon basic conditions. And no matter who opposes it, the swing must inevitably run as far and as fast and as long as the impelling forces determine."

"I should say that a chart helps those who can read it or rather who can assimilate what they read. The average chart reader, however, is apt to become obsessed with the notion that the dips and peaks and primary and secondary movements are all there is to stock speculation. If he pushes his confidence to its logical limit he is bound to go broke."

I love Coinbase's new auto-buy option when making a purchase. That'll certainly help.

I really don't buy much, and the gift card hoop jumping is just annoying - I've played with it but it takes a real effort.

When I can pay for gas at the pump with BTC...
When I can go to the supermarket and spend BTC...
and when local restaurants/bars/coffee shops are taking BTC...

then I will be spending BTC.

My housecleaner in China made $3/hr and had a phone with texting and pictures. Pretty sure a lot of the world can afford a phone.