Wall-street says Bitcoin to 1000 to 3000
Peter Boockvar has predicted that Bitcoin will hit 1000 to 3000 dollars soon. I am not disagreeing with him, that is not what this post is about. I just find it really ironic, when you see wallstreet veteran says "bitcoin will hit a 1000 dollars." Lets break this down.
Does Wall Street really understand Bitcoin? No, cyrptocurrencies where created to be outside the modern day monetary system, and they are treating like a stock. People are trying to get their money away from these people, and Wall street wants it back. Now I do believe in human behavior, and that can make Bitcoin act like stocks when human emotions come in.
The say Bitcoin will hit 1000 DOLLARS, I don't know if they realize that this is a Dollar competitor, and as if the real believers in this new currency care about the USD. Not to mention USD is still king, but there are things knocking at the door. I believe they lack the big picture view on this.
Now I do agree with him saying we are in a bubble. There are a ton of Crap Coins out there. Half of them will go away. VIVA is a perfect example.
https://www.cnbc.com/2018/01/19/bitcoin-could-lose-90-percent-of-its-value-wall-st-veteran-boockvar-warns.html
I hope this prediction will not come true, but nothing is impossible.... so rather than ignore it, we should be careful with our investment.
Bitcoin will go to $1000 when they decide that one BTC is too expensive at $100,000 and decide to increase the 21,000,000 total supply to 2,100,000,000. I think that will be the next time we see $1000 BTC.
I agree, they say bitcoin is decentralized, but if you get enough minners on board, you can do whatever you want. That is how we have bitcoin cash, bitcoin gold, and the one that failed. Money always corrupts
There is definitely some funny business and potentially shady business associated with bitcoin, I trust that we will keep things in integrity or move our support over to things that are in integrity.
A coin is inherently an indivisible agreed upon amount of value. A thousand dollar BITcoin is about 9 to 11 percent of a the standardized mining reward unit, a BITcoin has no fixed value except to hardware manufacturers.
This is insightful. I see where you are coming from with that. The value assigned is basically whatever people are willing to pay for it. The trend tends to be upward and people get caught up in that. At the end of the day it is big business to those fully entrenched (aka hardware manufacturers).
Im really glad you can see the implications, they seem to be lost on most users here. I really think that this whole industry is clever solution to hardware overproduction worldwide, rather than limiting prices or production, hardware manufacturers decided to create demand by creating massive projects scaled to provide artificial demand over as long of a period as possible.
It is not hard to see why government agencies would have an interest in keeping the world demand for computers insatiable seeing that they have invested trillions of dollars in being able to access computers on their network, not to mention the taxes they should stand to loose if they cracked down.
The mass adoption of BITcoin also limits the potential of individual inventors to create new types of more powerful networks by centralizing incentive to the physical internet. To think that the way we now transfer information is superior is naive. I envision a future where true decentralization proliferates and blockchains are viewed of like central banks are today (creating worthless fiat).
The core ideas of BITcoin are not new, these ideas have just now been finally sanctioned during the last decade. While digital money and fiat has always been rejected by educated consumers, they will soon react now knowing the rules have changed and this once stigmatized behavior is now acceptable.
https://steemit.com/bitcoin/@clearshado/bitcoin-the-cia-and-the-mit-connection
In the past people used to do this to coins when access to banks and mints were limited, in a way we are now returning to this situation, the only difference is we are actually splitting fiat currency not silver.
I tried to split a quarter once, an It just kept getting stuck in the vending machine.
haha way to fight capitalism by fucking up vending machines.
Try pennies next time. Certain types of machines are easy. If you can send a penny (or anything else for that matter) into the slot fast enough it can skip over the section that drops smaller coins. SWIM says from lots of childhood experience that arcade style coin mechanisms tend to be the best for this method.
Thanks for safe-guarding crypto-bifrost. I can see that I have much more work ahead of me now!
I appreciate the crypto-space and the fact that there is a free market. Where there is power (and power and wealth tend to move together) there ends up tyranny. The decentralization (in theory) removes tyranny. Where there is tyranny, the free market can liberate, as we don't need Bitcoin... Bitcoin is meant to be an instrument of liberation from tyranny... If tyranny arises within Bitcoin... there are other instruments of liberation available.
What we need is to know our place within the space... and that is why I thanked you. You helped me cross the bridge to see mine.
This can never be true. There will never be more than 21,000,000 BTC.
This is correct. There will only ever be 21,000,000 BTC. There will also only ever be 2,100,000,000,000,000 satoshi making up that 21M BTC. The whitepaper is basically just saying that for those of us to stupid to deal in decimals, or more accurately us special americans who feel the need to fix everything that isn't broke in order to stroke some psychological sense of superiority over it, we can just move the decimal to wherever we want. However every time we do that and call that a BTC, the less divisible BTC will become. If 1 penny was equal to 1 satoshi then 1 full BTC would be worth $1,000,000 and obviously a market cap of $21T which I don't think is unreasonable by any means but there's going to be a lot of volatility most of the way there. None of this actually changes anything about BTC though, it simply adjusts our perception of it so it doesn't make us americans feel stupid. And of course there is somewhat of a psychological barrier for many people when it comes to owning 1 of something as opposed to .01 of something.
It is in Satoshi's whitepaper that if a "bitcoin" goes up too much in value that a fraction of a bitcoin could be named a bitcoin. If you do the math I am basically saying that bitcoin is going to $100,000 (and then they will move the decimal over a few times to make it $1000) .
I must read the whitepaper more properly then. Thanks for educating me.
Ya... there would be no more Bitcoin... We would just begin to recognize a 1/100 of a bitcoin as a bitcoin and thus, 21,000,000 x 100 = 2,100,000,000. No funny business... just math and making bitcoin still affordable.
Yep, look at world politics and how bad they are now. That is what gave way to cyrptos.
I would have to say that this isn’t likely to happen any time soon- if it does, everything will fall. I could see a slow transition into a new king of cryptos. I’ve been saying that for a while now. We will have to wait and see what happens...
Any predictions on the new king?
To be honest- I don’t think that we’ve seen it yet. I think as long as the crypto markets are accessible by most countries and there are no major regulations- rendering it impossible to own- we will see something completely revolutionary. I could see XLM being a precursor to something big. I doubt it will be that thing but it’s creator has made a lot of contributions to the crypto world. We will just have to see. Like I said - there will be something to come along that is nothing like the rest. Somebody will figure out how to actually be different and superior to the other Blockchains. Honestly it could be an entirely different concept completely..
But I digress...
Dan has 2 of the top 5 block chains, as rated by the independent study. Might be one of his?
Oh I think thats a good possibility...but it would have to be something truly unique and sets it apart from all the rest.
Lots of hype about EOS. There's some coin running on I think they call it a lattes chain or someshit then people are talking about hash graph, witch isn't open source...
That is great information, thanks for sharing!! I just finished a post talking about cryptocurrencies that might be of interest to you. Check it out if you get the opportunity.
https://steemit.com/cryptocurrency/@cool-mike/my-analysis-five-altcoins-trading-under-usd5-that-can-make-you-rich-in-2018#comments
Great post if it dose you bet im going to be buying bitcoin! looking forward to more post up voted and followed! If you get the chance check my page out i'm new trying to get my blog out there!
Thanks!
Nice u'r information.
I don't believe that for one Bit.. Bitcoin and Crypto Currency is here to stay.. Threat to all banks worldwide .. Can't controll so now they want to expose cryptopias and tax an asset . lol.
(But not funny 🙈)
Crypto Currency is the Future and the Future is Now !!
Bravo
The cryptocurrency is not going anywhere and hopefully, it will not go anywhere. The governments are clamping down on cryptocurrency because they think that it can be a huge danger for the status quo monetary system. I totally agree with you that there are many fake cryptocurrencies out there but yeah will be wiped out with time and the crypotrading system will emerge as a unique pure system with less restriction than the current system.
Look at China, they control people by the money. They have to ban it not too lose everything.
This seems incredible, but is it good that it reaches such a high value?
The governments of the world will be against this and this is where the savings of others will be in danger, this subject must be treated with delicacy and suspicion. Thank you for your inpuut♥