Elwar
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December 23, 2016, 02:44:13 AM

Just jumping in here before I fly off to Kuwait for another stint in Afghanistan. Would have preferred the bitcoin price be like last year while I make AF money but it's all good. Glad I put the sale of my house into bitcoin back in June.

The previous bubbles started with a doubling of the price within a month. Looks like the low hit $787 in the past 3 days. If the price is over $1,500 by January 19-20th then it will be over $3k near the beginning of February and then $6k a week later. (If history is any indicator)

Initially I had thought that there was nothing behind this surge but I think that just like the last bubble was China coming online, this one looks like India is coming aboard. With their government screwing with their monetary system plus the added rumor that they will ban gold (India has a huge amount of gold) the price in Rupees for bitcoin has already shot over $1k and their exchanges are being flooded with new users. The only difference this time is that China was half speculation and partly China actually starting to get involved. India coming onboard does not appear to be hyped, it's just happening.

I understand what you are saying regarding China and India; however, the fact of the matter remains that even if there are various incentives and increases in the onboarding of a large number of folks into bitcoin, the onboarding into bitcoin still remains a relatively small portion of either of those populations - which is likely even better for the long term of bitcoin to experience more and more people onboarding bitcoin and more and more reasons for them to do so and more and more channels for them to do so

It is certainly a small portion of the population just like bitcoin is only owned by a small portion of Americans. Most likely less than .0001%. That's a lot of upside.

I read an article that bitcoin is overtaking gold volume in Brazil. Imagine that happening in India. Bitcoin price would be in the tens of thousands.