Friday, June 3, 2011


On May 27th, 1 week ago, 1 BTC was worth $8.65.  Today 1 BTC is worth $13.80.  With inflation, your money buys less now than it did in the past.  With the BTC economy, we see the opposite- BTC today will buy more than it did in the past.  This is deflation.

62% growth in one week leads to some absurd numbers in a relatively short time frame:

6/10- $22.35 (1 week)
6/17- $36.21 (2 weeks)
7/1- $95.04 (4 weeks)
7/29- $654.63 (8 weeks)
8/26- $4,508.78 (12 weeks)
10/21- $213,884.53 (20 weeks)

I like to dream as much as anyone, but I doubt my bitcoins will be worth over $200k USD in a mere 4.5 months.  Still, it's interesting to look at it as a best-case scenario.

On a side note, currently have 1 5850, 1 6970, and 1 5770 hard at work mining.  Earned about 10 coins total so far.  Two Radeon 5830's are coming to join in the mining fun, along with power supply and motherboard/cpu to drive them.  I have enough old hard drives and memory sitting around to handle those needs.

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