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To put things in perspective: taking the (presumably) wildly optimistic forecast of the Wilklevii, the total future bitcoin appreciation will be approximately e
by klochner 13y ago
To put things in perspective: taking the (presumably) wildly optimistic forecast of the Wilklevii, the total future bitcoin appreciation will be approximately equal to the year-to-date performance.
So in an optimistic scenario, the bulk of any appreciation is behind us, and the fortunes made to-date won't be made by the current batch of speculators.
- sillysaurus2 13y agoI don't understand. If Bitcoin appreciates to $40k like the Winklebosses are saying, then I stand to 40x my money. How does that equal the year to date performance, or mean that the bulk of the appreciation is behind us? (I think appreciation to $40k is delusional, but that's what they're claiming.)
- exit 13y agoaccording to this wikipedia article, the price in december 2012 was $13: http://en.wikipedia.org/wiki/History_of_Bitcoin#Prices_and_value_history http://en.wikipedia.org/wiki/History_of_Bitcoin#Prices_and_v... the average today is $827, 827 / 13 = 63.6153846154
- sillysaurus2 13y agouser "laszlo" did first transaction – bought 2 pizzas for 10,000 BTC.[67][68] User "SmokeTooMuch" auctioned 10,000 BTC for $50 (cumulatively), but no buyer was found.[69][70] EDIT: I know, it was just a funny event.
- jds375 13y agoDefinitely true, although I do believe they've been invested in bitcoins for quite a while now and have profited big time from the recent bitcoin boom.
- javert 13y ago> the fortunes made to-date won't be made by the current batch of speculators Yes they will. Under what you're saying, if earlier speculators made 40x then those who get in now also make 40x.