1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

*** Official Bitcoin Price Discussion Thread ***

Discussion in 'Crypto Currency & Mining' started by morguk, Dec 28, 2016.

  1. morguk

    Wise Guy

    Joined: Dec 5, 2007

    Posts: 1,152

    Thought it's about time for a fresh price discussion thread for bitcoin. The previous one was origionally about the 'halvening' back in July.

    We're currently $980 (£790) do you think we'll make it to $1000 before new years?
     
  2. africanos23

    Wise Guy

    Joined: Mar 1, 2014

    Posts: 2,418

  3. panyan

    Sgarrista

    Joined: Mar 13, 2011

    Posts: 7,522

    Location: Bada Bing

    I sold off in june - so yes - itll probably hit $1000 before new years :(
     
  4. Karateyid

    Mobster

    Joined: Jun 20, 2011

    Posts: 2,580

    Got 1 coin I'm holding onto atm but tempted to cash out soon and replace some hardware.. Hoping it hits the $1K mark soon™
     
  5. Lokken86

    Mobster

    Joined: Mar 8, 2010

    Posts: 4,382

    Location: Aberdeenshire

    Close enough.
     
  6. morguk

    Wise Guy

    Joined: Dec 5, 2007

    Posts: 1,152

    Not a bad call africanos23, however I would hope we would stay above the $1000 mark if we get to $1160.
     
  7. Karateyid

    Mobster

    Joined: Jun 20, 2011

    Posts: 2,580

    Doesn't look like it will be hitting $1000 this year.. Its dipped a bit.. :(
     
  8. Jokester

    Don

    Joined: Aug 7, 2003

    Posts: 39,931

    Location: Aberdeenshire

    £790 today.

    My prediction for the end of the year is £1400 - £1600.
     
  9. norm

    Mobster

    Joined: Jan 21, 2003

    Posts: 4,963

    This currency will catastrophically implode at some point. All it takes is for the integrity of the blockchain to become compromised and it will fall like a house of cards.
     
  10. morguk

    Wise Guy

    Joined: Dec 5, 2007

    Posts: 1,152

    Please explain how the integrity of the blockchain can become compromised?
     
  11. norm

    Mobster

    Joined: Jan 21, 2003

    Posts: 4,963

    https://learncryptography.com/cryptocurrency/51-attack

    And like any computer system before that was deemed unhackable, groups or individuals will find a way to infiltrate it if they have the desire to do so.

    Bitcoin is the first digital currency to go mainstream, to believe it's only ever going to exist in its current form is a tad short-sighted, the internet is a volatile place and will only continue to become exposed to larger threats as these recent Russian cyber-warfare attacks have shown.
     
  12. SupraWez

    Wise Guy

    Joined: Nov 17, 2007

    Posts: 2,159

    Sitting at £806 at the moment :D
     
  13. morguk

    Wise Guy

    Joined: Dec 5, 2007

    Posts: 1,152

    Here's a quote from Andreas Antonopolous on 51% attacks.

    1. The objective would be to do a double spend, which you could do once or twice before the network sees what you're doing and corrects it.
    2. You'd need the supports of ALL 51% of your miners, and be able to retain that support in corrupting the system, highly unlikely.
    3. The Bitcoin Core Protocol can be adjusted to counter attack you once this is done.
    4. Everybody knows who has access to 51%, so you can't do it without everybody knowing who is the culprit, and can you say Bad PR?

    Regarding the rest, I don't think anyone has said it's only ever going to exist in it's current form - right now they're trying to introduce segwit. This is a good thing, and the benefit of open source code and a strong community.

    Yes the internet is a volatile place, and bitcoin has been in living in it for 7 years, becoming hardened and stronger over time. It's a 16 billion dollar bug bounty!

    The Ethereum DAO was in the wild for only 2 months and was hacked, due to over complex code and lack of testing. I would understand your point against something like that, but not 7 year old, simple, hardened, bitcoin.
     
  14. Lokken86

    Mobster

    Joined: Mar 8, 2010

    Posts: 4,382

    Location: Aberdeenshire

    Sounds like somebody doesn't have any bitcoins.

    My prediction for 2017. $1200 before summer, back to $1000 and then a long slog/grind back up to break the old high. End the year $1500-2000.
     
  15. Karateyid

    Mobster

    Joined: Jun 20, 2011

    Posts: 2,580

    appears like $1000 just been broken so lets see where it goes from here :)
     
  16. bimbleuk

    Wise Guy

    Joined: Sep 10, 2009

    Posts: 1,778

    Location: Gloucestershire

    ..
     
    Last edited: Jun 6, 2017
  17. Pyr0m@nI@]{

    Hitman

    Joined: Oct 31, 2005

    Posts: 827

    Location: Merseyside, UK

    Trading at $1024 on polinex :)
     
  18. morguk

    Wise Guy

    Joined: Dec 5, 2007

    Posts: 1,152

    Probably the best prediction I've seen for 2017! :)
     
  19. Karateyid

    Mobster

    Joined: Jun 20, 2011

    Posts: 2,580

    1BTC = $1048 (£856)
     
  20. dlknight

    Wise Guy

    Joined: Jan 5, 2007

    Posts: 1,613

    Location: Smallbrook

    Just traded a quarter of a bitcoin - couldn't resist at that price and not gambling again on it going higher. Left a quarter in reserve just in case...