Forums » General » News » bitcoin predictions, cryptocurrency/blockchain predictions







tophat jsunr422
Since: Aug '17
pushpin 3 - 1 Review


for all of you guys who are now learning about cryptocurrency and how it is absolutely disrupting the financial world right now, its time to actually look at the price of bitcoin. bitcoin is basically online gold, only 21 million will ever be mined and the price back in 2009 was $.08, now it is fluctuating around 10k. why is bitcoin so valuable? it can get rid of middlemen such as banks and has the potential to get rid of taxes on peer to peer transactions, the fees to trade bitcoin are miniscule, being able to get rid of banks entirely on pricepoint. you can trade bitcoin for anything to anybody with a bitcoin wallet to anywhere the world on the blockchain technology, a peer to peer online ledger that tracks and confirms transactions. so why has bitcoin gone up in value? i really have no fucking idea. you cant possibly value the intrinsic value of a bitcoin, it is still on the basis of being worth however much in US dollars. if you look at the past price fluctuations this has done this many times before, $0.25 to $30 back to $0.25, from around $10 to $267 back to $67, from around $67 to around $1150 back to around a price of $240, and now from around $240 to around $10-11k with huge media behind it and stock market exchange acceptance. this is the big one, the biggest bubble known to man given that this is another .com bubble that revolutionizes the world eventually, just not in 1 year. my prefictions are this is the future, the blockchain technology that is, but there are over 1000 cryptocurrencies out there, (just like scam .com stocks) cryptocurrency will be widely accepted soon but people are buying this because of of fomo, fear of missing out. i mean i saw a post online that said a family selling everything, house, car, 401k, just to get into bitcoin. literally everybody is making money on this currently, but when everyone is bragging about how easy it was to make money on bitcoin so simply that equals a bubble. money is never made easily, period. speculation is purely driving bitcoin right now and other altcoins such as litecoin, ethereum. this cant end well when people are buying simply on price. in 99 you would have thought yahoo was going to be the biggest, greatest online.com company, and look at it now, google took a fucking shit on it. so, what does this mean. i beleive bitcoins price will level out one day. i mean people are saying its online fucking gold, hmmmm, then why isnt golds price skyrocketing towards 1 million an ounce, oh wait, reality hits, its a fucking piece of metal. your bes best bet on how to bet on the cryptocurrency craze is to buy a blockchain company when they go public, huge risks still involved. but another way i see to make money it to short bitcoin. once everyone has bought all the bitcoin they could possible buy and it soon stops going up? hmmm where would it go, yes thats right, straight back to where it came from. gravity does exist for things that arent there, and bitcoin to 1 million is sure one of those mirages.when investing in something you do not want to be with the crowd, i will be shorting bitcoin and buying it back when it becomes cheap again at anywhere from $0.00 to $1150, its previous range and bubble top. if you want to buy because of fomo, more power to you, just think that your money has already vanished and only bet what you can afford to lose. thankyou fr reading. in the comments below i would love people to explain their thoughts for bitcoin and explain why i am wrong or why you agree with me. and yes, supply/demand comes into play, but think about it, gold has a limited amount (low supply) and high demand (7 billion people) then why isnt golds value just make another high today just has bitcoin has today? please, id love to hear your replies







tophat southerner
Since: Jan '16
pushpin 425


jsunr422, I am not going to pretend that I understand what is going on with bitcoin, Maybe it is the wave of the future and maybe it will make all other forms of money obsolete.  But I doubt it. This obsession with bit coin seems to be purely momentum and speculation driven. I fear that it will end up being much like the "tulip mania bubble" of the 16 hundreds in Holland.  


It lasted from something like 1620 to 1637.  In the end people were trading their houses and everything they owned for just a few tulip bulbs. The tulip bulbs had by that time gotten more valuable than the flowers themselves and the bulbs were treated as money rather then just seeds for flowers.  People were buying the tulip bulbs and turning around and selling them for a profit. Finally, some people who had been speculating in the bulbs realized that the prices had become insane and began selling them and getting out with their profits and stopped buying.  Over night the whole market crashed.  Many people holding bulbs lost everything as they became almost worthless. 


At least you can take tulip bulbs and plant them and make beautiful flowers with them.  What can you do with a bitcoin? 


Hope I am wrong but this world wide advance in the stock markets wont last forever. The business cycle is on the up swing, but it won't last forever. It never does.  We seem to be in a huge economic bubble right now. What happens to bitcoin when it pop's?  


I say, if you want to speculate in things like bitcoin use only money you can afford to lose.  Make your profit and then get out.  Don't try to time the top and don't feel too bad if you get out to early.  It's a lot better than getting out too late. 







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tophat MrRoboto
Since: May '17
pushpin 1648 - 12 Reviews


I agree 100% .  This thing has no intrinsic value!  No government to back it up when it drops like a stone.  

It is just a digital commodity that is causing a speculation bubble.  Once the dust settles there will be a market for block chain 

technology but the winners are the ones we already have heard of i.e. BofA, Chase etc.







tophat jsunr422
Since: Aug '17
pushpin 3 - 1 Review


i am in total agreement with what you say, it is only tradeable, not investable at this point in time. this is a mirage.







Squifffffy
tophat Squiggy
Since: Feb '15
pushpin 3599


4 million bitcoins have been permanently lost so reports Chainanalysis this date. Check Fortune mag or Forbes.   No explanation is offered.


Wow what a great investment for your kids future.  Something you can "almost" count on.







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tophat Paul94544
Since: Feb '15 Vip  
pushpin 1215 - 18 Reviews


The banks and govt are never going to allow a currency that cannot be taxed and controlled







tophat southerner
Since: Jan '16
pushpin 425


There's a good discussion about Bitcoin and other cryptocurrency's going on over on Sacramento Lounge right now. Maybe someone over there will change our minds. 







tophat masterchief
Since: Oct '14
pushpin 96 - 11 Reviews


4 million bitcoins have been permanently lost so reports Chainanalysis this date. Check Fortune mag or Forbes.   No explanation is offered.


Wow what a great investment for your kids future.  Something you can "almost" count on.

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I'm sorry, but do you understand "why" they have been lost? Bitcoins are stored on an online ledger, which cannot be hacked, because you need 51% of the hashpower of the entire bitcoin network to hack it. With thousands and thousands of ASICs and computer mining it, you need tremendous computing power to hack the ledger (a.k.a. impractical). Your wallet (paper, or hardware, or online wallet) stores something called a private key (look up asymmetric key encryption). Bitcoin can only be "unlocked" with this private key. There are approximately 2^256 such keys. This is more than all the grains of sand in the whole world. This makes it harder to "brute force" a solution, if someone is trying to pretend they are you. i.e. they need to try all those grains of sand to find the one grain that can unlock your wallet.


Now here is the kicker. If you lose your private key, *nothing* can unlock you coins. They are lost forever.


Say you have 10000 bitcoin that can be unlocked with your key. Back in the day bitcoins were worth next to nothing (0.1 cents and even lesser). So people had thousands of bitcoins and stored private keys in their wallet. Later on they threw these wallets away, because who the f u c k cares about a few cents or dollars, right? Well, shit. Except 7 years later each coin that was worth 0.1 cent is now worth $14000 as of right now. F u c k  me. But we threw away the key, so we can't access those bitcoins anymore. 


The estimate is that hundreds of thousand such coins were "lost" in the early days.


In other words, store your key securely in multiple places, and you can *never* lose your bitcoin. Because they can't be hacked (as I explained earlier). But lose your key and they are gone forever. This appeals to a lot of people. NO ONE owns your money. Not the banks, not the government, not the middlemen. Just you. By controlling your private key. Hope that helps.







tophat masterchief
Since: Oct '14
pushpin 96 - 11 Reviews


I agree 100% .  This thing has no intrinsic value!  No government to back it up when it drops like a stone.  

It is just a digital commodity that is causing a speculation bubble.  Once the dust settles there will be a market for block chain 

technology but the winners are the ones we already have heard of i.e. BofA, Chase etc.

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Let me tell you a secret. Money is a massive shared hallucination.


Your gold has zero intrinsic value. (Go ahead, I'll wait for the stellar core argument). Gold has value because each of us believes that when the other person buys our gold, they will give it value.


The dollar has no intrinsic value, and is not backed by anything (Go ahead, I'll wait for the warplanes argument). The dollar or fiat has value because everyone that participates in the network believes it has value.


Bitcoin started out as worthless, because it had no network, so no one believed it had value. Over the past 7 years it has built up a decent network of people, and we all give it value. It is that simple. If something happens tomorrow that craters the confidence in bitcoin, it would crash to 0 in a jiffy.







tophat masterchief
Since: Oct '14
pushpin 96 - 11 Reviews


i would love people to explain their thoughts for bitcoin and explain why i am wrong or why you agree with me. and yes, supply/demand comes into play, but think about it, gold has a limited amount (low supply) and high demand (7 billion people) then why isnt golds value just make another high today just has bitcoin has today? please, id love to hear your replies

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How many ounces of gold exist? 5,820,203,717 ordinary ounces. How much is the price per ounce? $1270. The entire gold bullion market is what, 8 trillion dollars?


How many bitcoins will exist? ~21,000,000. How much is the current price of bitcoin? $14000. The entire bitcoin market cap is 245 billion.


Hypothetically, if bitcoin gets to 1 trillion market cap eventually (1/8 that of gold), there is still 4x growth left in the asset. i.e. $60000 per bitcoin. If bitcoin gets to the same market cap as gold, that is almost half a million dollars per bitcoin. That doesn't mean it will happen. No one knows what will eventually happen. But the potential is there.







tophat PresidentTedCruz
Since: May '16 Vip  
pushpin 309 - 4 Reviews


Pain.







tophat trj_66
Since: Nov '16
pushpin 70


When was the last time there was an investment idea that went parabolic then didn't crash?  I don't see this ending any differently.







Hakuho
tophat hakuho
Since: Mar '17
pushpin 102


Most of the 'losses' in Bitcoin, etc. are linked to EXCHANGES...the personnel who run an exchange can purloin the blocks and cry foul; and because the whole biz is not regulated, who could you sue?


so, the question for me is 'are those blocks lost' ? and who or what agency 'hacked' the system? since the idea or logic behind a distributed ledger is supposed to be like a Hologram, where the information for the whole set of data is contained in any small segment of the complete data why wouldn't the whole blockchain not be retrieved from one of the NODES? If you manage an exchange are your data backed off in a set of REDUNDANT bits and bytes??? Every SW outfit I have ever worked for (29 years) has featured redundant off-site storage....something here stinks on ice.


with the emergence of IOTA coin their blockchain was scrapped for a ledger built on the logic of a DAW Graph...if you read the IOTA(IOT)  whitepaper be sure to bring your minimum studies of two years of Differential Equations.... IOT ="Internet Of Things".....a 5G scheme that reports to NSA, DARPA and CIA....


Do you know where your data is tonight? is it out partying?  lol why trust the trad Ponzi of Fractional Reserve Lending -the Euro banksters Rothschilds, Warburgs, Shiffs, Kuhn.-Loeb, Rockefellers. all Jews who still running the show since 1805 when Nathan sold short and took over the Bank of England...


Still, Crypto is the only game in town....so buy, buy, buy and expand my net worth

Thank You so much....









Hakuho
tophat hakuho
Since: Mar '17
pushpin 102


what can you do with Bitcoin? actually it smells sweet to me...people who say, 'I don't know anything about Bitcoin, but I KNOW it will flop' are disturbingly naive if not stupid...


There was no BLOCKCHAIN ledger back in Holland 500 y/o...the Tulip comparison is akin to those 'EXPERTS'  youtube bloggers who insist that Crypto is a Ponzi.....they are bafflingly and egregiously retarded....if you think that Crypto value is the result of Ponzi action please tell us how that is...thank you.


Looking at a computer generated image, how many would understand that it is propagated mathematically from a string of 1 and 0s in machine language....how many folks understand that Crypto logic is based on a Holographic representation of hash table mathematics?


Cryptocurrencies will someday be just another investment process  that lives in your financial portfolio...the governemt(s) who all work for the Euro banksters Rothschilds, Shiff, Warburg (multi-Trillionaires all) prob have more Crypto in play than anyone...


If Cryptocurrencies flop it will be regulatory agencies SEC, etc that will get the SCOTUS to declare it illegal to purchase or trade; like those  senile old nine ninnies on SCOTUS declared legally that Carbon Dioxide is a POLLUTANT! (let's all take a deep breath)









tophat acguy
Since: Feb '15
pushpin 170 - 5 Reviews


The banks and govt are never going to allow a currency that cannot be taxed and controlled


Your are correct. Bitcoin is not now a currency nor will it ever be. A currency must be regulated both in production and value

and that normally takes a government.---







tophat acguy
Since: Feb '15
pushpin 170 - 5 Reviews


I agree with most of what you've stated. Most experts agree that bitcoin will eventually end up at 0. Where they disagree is when that will happen.


Very few people understand bitcoin or what it is. Some claim it's a commodity (me included), while others state it's an equity. But the scary thing about bitcoin is that NOBODY knows what it is, why it's value is going up, or what to classify it as. To believe that bitcoin is an investment is just foolish. I understand many are making money. But you might as well go play high stakes craps at the casino


I've seen comparisons to gold. LOL! Oh brother!!


I don't know where this will end. But I know it will end. No competent investment advisor will recommend bitcoin as an investment.


Too many people think they know how it all works. That's why there's investment advisors. The good ones are worth every penny! If you just want to gamble on things like bitcoin, go ahead. But make sure it's a small amount of money that you can afford to lose.