Bitcoins jumped all the way up to over $30 each, but now they’ve been sliding and sliding day by day, and the government is in the early stages of threatening to outlaw the electronic currency. Nevertheless, none of my four conditions have been met, but it seems like prices are no longer rising. Was my prediction off? Possibly. Or we could try to ignore day-to-day ups and downs and trace the growth of the bitcoin month by month. My four conditions, one of which will probably shut down the bitcoin, are counterfeiting, corruption among management, governmental shutdown, or a precious metal standard.
Unless one of my four conditions is met, I see no reason why August 1 2011 won’t be at least $17.
July 1 2011: ~$16
June 1 2011: ~$9
May 1 2011: ~$3.50
Apr 1 2011: ~$0.80
Mar 1 2011: ~$0.90
Feb 1 2011: ~$1.10
Jan 1 2011: ~$0.30
Dec 1 2010: ~$0.22
Nov 1 2010: ~$0.20
Oct 1 2010: ~$0.06
Sep 1 2010: ~$0.06
2 Comments
Would you be willing to let me borrow bitcoins now and I’ll return them to you on August 1? If you’re right, you’ll profit $5… now $6 per BTC.
He he. No. I’m not going to play around with a newly-created commodity up 20,000% in one year while the government breathes down its neck.
I think the government’s gonna shut this whole fun game down in not too much longer. In the meantime, I’m just an internet dude speculating without putting any cash on the line, which so far has gone pretty well.