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    Author Topic: $300 Bitcoin "Guess the Price" Contest  (Read 2772 times)

    • Rob768 (OP)
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    June 16, 2011, 11:01:22 PM
    Last edit: June 17, 2011, 02:27:42 PM by Rob768
     #1
    Well, I asked Akmed over at Talkgold to do a contest with Bitcoin to promote their new Forum and they did just that.

    The $300 Cash Contest can be entered at:  http://www.talkgold.com/forum/r331610-.html

    Simply head over there and guess the price that 1 bitcoin will be on August 1st at Noon.

    Post your guess's hear as well Smiley

    My guess is going to be $33 (Although I feel this could really take off in the coming weeks)

    What do you think?  What are some factors contributing to the possible rise or declien in price over the next 6 weeks?

  • Rob768 (OP)
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    June 17, 2011, 12:07:42 AM
     #2
    Just curious as to the people here.  What do you guys and girls feel are keep fundamentals that will drive the price of Bitcoins in the coming months ahead? 

    Are you guys investors or just users of the currency.  If investors, how long are you holding onto your investment?

    Will the userbase continue to grow at an increasing pace like it has recently?  If so what does that mean for the price?

  • jalidi
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    June 17, 2011, 12:12:31 AM
     #3
    Bitcoins are the most volatile things I've ever seen in my whole life.

    The events of the weekend of early June will not be soon repeated.

    I really think it's going to trend back down to the original 10 dollar price it was accepted at for months and months, and it might even stabilize there as more and more new coinage pours into the economy. The block count is whipping, when I started out it was like two solid weeks to the next difficulty, now it is more like 10-11 days, and you just wait, prospective miners are adding more and more machines by the second in the Bitcoin Gold Rush.

    If it goes up, just wow... I can't predict it properly. You could write an economics thesis on what's happened just in this month alone.

  • Rob768 (OP)
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    June 17, 2011, 01:00:44 PM
     #4
    I personally think it will consolidate around $15 or so then shoot back up to the high 20's.  As more people get involved the volatility will slow down.  Volatility occurs when there are only a small number of users selling large chunks.

    I'm gonna make this call.  $200 per Bitcoin by the end of 2012.  What do you guys think.

    The supply is limited and there are billions of people online.

  • Rob768 (OP)
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    June 17, 2011, 02:28:22 PM
     #5
    Link Fixed, sorry

  • Saturn7
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    June 17, 2011, 04:17:41 PM
     #6
    6 Million Coins for 6 billion people  Shocked

    I think when governments get comfortable with the idea of bitcoins and people feel like its a safe way to send money all around the world we will all be on yacht forums debating which boats to buy.

    I call this one

    http://www.youtube.com/watch?v=iMIF2GrdL28
    First there was Fire, then Electricity, and now Bitcoins Wink

  • Rob768 (OP)
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    June 17, 2011, 05:07:50 PM
     #7
    Agreed, if this thing takes off there is no telling what one Bitcoin will be worth.  $1000, $10000, More? 

  • DamienBlack
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    June 17, 2011, 05:25:07 PM
    Last edit: June 23, 2011, 06:19:05 PM by DamienBlack
     #8
    At noon what time zone?

    In any case, I'm going to throw down an estimate.

    $68.40

  • SgtSpike
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    June 17, 2011, 05:27:10 PM
     #9
    Quote
    The requested Web page is categorized as "criminal"

    and has been blocked by Web Content Filter.

    Please contact your system administrator for further information.
    Makes me sad.  Sad

  • Rob768 (OP)
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    June 23, 2011, 03:59:22 PM
     #10
    Continue the guess's here.  I see a lot of Higher ones.  I doubt it will be able to rebound that high

  • SgtSpike
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    June 23, 2011, 04:16:27 PM
     #11
    Quote from: jalidi on June 17, 2011, 12:12:31 AM
    Bitcoins are the most volatile things I've ever seen in my whole life.

    The events of the weekend of early June will not be soon repeated.

    I really think it's going to trend back down to the original 10 dollar price it was accepted at for months and months, and it might even stabilize there as more and more new coinage pours into the economy. The block count is whipping, when I started out it was like two solid weeks to the next difficulty, now it is more like 10-11 days, and you just wait, prospective miners are adding more and more machines by the second in the Bitcoin Gold Rush.

    If it goes up, just wow... I can't predict it properly. You could write an economics thesis on what's happened just in this month alone.
    It was never at $10 for months and months.

  • Rob768 (OP)
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    June 23, 2011, 04:33:53 PM
     #12
    Yeah the average was around $10 maybe

  • RodeoX
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    June 23, 2011, 05:00:14 PM
     #13
    I'm saying $22.28
    But, how the hell would i know?
    The gospel according to Satoshi - https://bitcoin.org/bitcoin.pdf
    ‎Free bitcoin in ? - Stay tuned for this years Bitcoin hunt!

  • Rob768 (OP)
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    June 23, 2011, 05:58:32 PM
     #14
    I am anxoisly waiting to see where this opens if MtGox ever comes back online.

  • CurbsideProphet
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    June 23, 2011, 07:08:25 PM
     #15
    Markets are very irrational in the short term.  Due to recent events my guess would be somewhere around $8 by August.  Long-term I think BTC's will be near worthless.

    I'll probably be labled a troll but whatever.  I like the idea and the basic premise of bitcoins but the fact is it's an easily replicable model.  I think this is the first incarnation of what will eventually be a feasible decentralized currency.  Bitcoin is the guinea pig and we are learning a lot through this experiment.  The analogy used in another thread was the success of Facebook.  I don't see Bitcoin as Facebook but one of it's predecessors.  Bitcoin is probably something similar to asian avenue.  Next will come version 2 (Myspace).  And finally the one that really takes off (Facebook).
    1ProphetnvP8ju2SxxRvVvyzCtTXDgLPJV

  • Seuros
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    June 23, 2011, 07:50:37 PM
     #16
    11$ the market will crash!

  • Rob768 (OP)
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    June 24, 2011, 02:39:06 PM
     #17
    I think it will be one of two extremes in the long run.  Within 2 years Bitcoins will either be valued at under a buck, or they will take off and huge demand will outstrip supply equating to a price per bitcoin of over $300.

    Opinions?

  • Superform
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    June 24, 2011, 02:50:21 PM
     #18
    145.89

    i still say in a few years people will be amazed that we traded in whole bitcoins... its like the guy buying 2 pizzas for 10000 btc just last year

  • kjj
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    June 24, 2011, 02:56:54 PM
     #19
    I have a highly scientific Bitcoin Value Predictor (dartboard) in my office.  Using careful analysis (mean of 3 sums of 3 throws), I calculate $27.333333 per BTC.
    17Np17BSrpnHCZ2pgtiMNnhjnsWJ2TMqq8
    I routinely ignore posters with paid advertising in their sigs.  You should too.

  • [Coins!]
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    June 24, 2011, 03:36:46 PM
     #20
    Aug 1st will see 3 more difficulties.

    1.37M until July 2nd (current)
    2.5M until July 12
    3.5M until July 23
    4.7M until Aug 3rd

    So in the middle of the 4.7M difficulty, BTC will need to be worth $80 to remain an equivalent difficulty:price ratio.
    Like my post? Consider donating: 1ENPBz6zZa1maehG48PaYzYhPjodN1NkTF
    http://oneminuteslow.com/bitcoin/100-20.png
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