sakinago
Gold Member
- Sep 13, 2012
- 5,320
- 1,632
- 280
Yup, it just cleared what was the laughable prediction of 10,000 USD by 2018. I originally bought half a coin a few years ago, sold before a trip to Vegas, with the intentions of buying back in...but stupidly did not. Got lazy since my exchange updated their security and wanted my drivers license and I thought it was too much of a hassle, and I forgot about it....that half a coin (I bought 150 worth) would be worth over 5,000 now. Bought back in a couple months ago (again later than I was meaning too, since I wanted to buy back in early in the summer, but never got around to it). Anyway in about a month I’ve made an 80% return on investment....I DONT THINK ITS GOING TO STOP.
These guys say it’ll go up to a million by 2020...and it sounds crazy, even to me but there are a few factors that are going to contribute to the continual rise. Even if it’s half or even a quarter of that...that’s still phenomenally outstanding.
As of now only 2% of the world use bitcoin, but all it takes to buy it is a smartphone...which’s everyone has nowadays, even in third world countries with how cheap androids are. Coinbase (a BTC exchange) is adding 100,000 new users a day. If you think of it like a stock, there’s really only a small group that stays roughly the same size buying into the stock market. And in that market they’re splitting that money into thousands of thousands of different companies. A very large majority of people in India, China, Europe, etc, and even here in the western world aren’t buying into the stock market...but they are starting to buy into bitcoin, because it’s easy, and un-hackable, they’re making money, and have 100% control of that money vs a bank. Now the more people who buy into, the more it keeps rising and rising. If the user-ship jumps up to a measly 4%....that alone will double the price. Like those guys said, this is just the first inning.
Secondly, bitcoin is forcing Wall Street to take a look, and they are all scrambling to figure out a way to start trading it on their exchanges. The CME is saying it will be exchanging it by the 2nd week in December! That’s gonna be a HUGE jump. As of now a very small percentage of BTC holders own over 100 USD worth in BTC. Not only will opening up BTC to Wall Street add even more users, it will add a lot more big players, as well as lend more validity to it.
Thirdly, economic crisis. People run to things like precious metals during economic crisis. But how many people have the know how and the funds to buy precious metals? Bitcoin is much easier and offers you full control of your money. Don’t get me wrong it’s very wise to own precious metals, but bitcoin could explode. There are plenty of countries on the verge of collapse, like Venezuela, Argentina, and once the happens, a good amount of people in that country will run to bitcoin. There’s even speculation that these countries might even just switch their currency over into cryptocurrency. On top of that, we’re due for at least an economic correction, and could very well be looking at economic crisis. Europe and China are in worse shape than us, and if we falter, that’s going to be a global crisis. On top of that, what’s gonna further drive people to bitcoin is the fact that all of our banks are ready to do a bail in (banks just take a percentage from everyone, 5% haircut across the board). Plenty of people are gonna day fuck that, I’m moving to bitcoin. Also these same banks are talking about doing negative interest rates on savings accounts, forcing people to spend instead of save. Again people will say fuck that, I’m gonna put my savings in bitcoin.
What makes me worry about bitcoin? Well governments could try to crack down on it. I don’t think they can fully eliminate it with their citizens, but they could make it difficult to use and exchange. On top of that the energy consumption of miners. They are using a lot of energy. But the beautiful thing about bitcoin is that it can fork, and change it’s form to something more workable, in a free market setting. It forks, people who have owns BTC before the fork own the same amount of the new fork, as well as classic BTC, then the two compete to see what’s better. I could see a fork into something using less power coming in few years. Or having cell phones, tablets, etc, join into the mining to take the load off computing, Or alternative energy sources to take the load off of energy.
If it does hit a million by 2020...I’m looking at 500,000 Dollars. I’d be perfectly happy if it only goes to 50,000 by 2020. That’s still a great freaking investment. I’m thinking about just putting in like 50 bucks every paycheck in, using it as a savings account on steroids. Anyway, buy in now. Put in money your willing to loose (I doubt you’ll ever loose it all, or even a portion), and just watch it go.
These guys say it’ll go up to a million by 2020...and it sounds crazy, even to me but there are a few factors that are going to contribute to the continual rise. Even if it’s half or even a quarter of that...that’s still phenomenally outstanding.
As of now only 2% of the world use bitcoin, but all it takes to buy it is a smartphone...which’s everyone has nowadays, even in third world countries with how cheap androids are. Coinbase (a BTC exchange) is adding 100,000 new users a day. If you think of it like a stock, there’s really only a small group that stays roughly the same size buying into the stock market. And in that market they’re splitting that money into thousands of thousands of different companies. A very large majority of people in India, China, Europe, etc, and even here in the western world aren’t buying into the stock market...but they are starting to buy into bitcoin, because it’s easy, and un-hackable, they’re making money, and have 100% control of that money vs a bank. Now the more people who buy into, the more it keeps rising and rising. If the user-ship jumps up to a measly 4%....that alone will double the price. Like those guys said, this is just the first inning.
Secondly, bitcoin is forcing Wall Street to take a look, and they are all scrambling to figure out a way to start trading it on their exchanges. The CME is saying it will be exchanging it by the 2nd week in December! That’s gonna be a HUGE jump. As of now a very small percentage of BTC holders own over 100 USD worth in BTC. Not only will opening up BTC to Wall Street add even more users, it will add a lot more big players, as well as lend more validity to it.
Thirdly, economic crisis. People run to things like precious metals during economic crisis. But how many people have the know how and the funds to buy precious metals? Bitcoin is much easier and offers you full control of your money. Don’t get me wrong it’s very wise to own precious metals, but bitcoin could explode. There are plenty of countries on the verge of collapse, like Venezuela, Argentina, and once the happens, a good amount of people in that country will run to bitcoin. There’s even speculation that these countries might even just switch their currency over into cryptocurrency. On top of that, we’re due for at least an economic correction, and could very well be looking at economic crisis. Europe and China are in worse shape than us, and if we falter, that’s going to be a global crisis. On top of that, what’s gonna further drive people to bitcoin is the fact that all of our banks are ready to do a bail in (banks just take a percentage from everyone, 5% haircut across the board). Plenty of people are gonna day fuck that, I’m moving to bitcoin. Also these same banks are talking about doing negative interest rates on savings accounts, forcing people to spend instead of save. Again people will say fuck that, I’m gonna put my savings in bitcoin.
What makes me worry about bitcoin? Well governments could try to crack down on it. I don’t think they can fully eliminate it with their citizens, but they could make it difficult to use and exchange. On top of that the energy consumption of miners. They are using a lot of energy. But the beautiful thing about bitcoin is that it can fork, and change it’s form to something more workable, in a free market setting. It forks, people who have owns BTC before the fork own the same amount of the new fork, as well as classic BTC, then the two compete to see what’s better. I could see a fork into something using less power coming in few years. Or having cell phones, tablets, etc, join into the mining to take the load off computing, Or alternative energy sources to take the load off of energy.
If it does hit a million by 2020...I’m looking at 500,000 Dollars. I’d be perfectly happy if it only goes to 50,000 by 2020. That’s still a great freaking investment. I’m thinking about just putting in like 50 bucks every paycheck in, using it as a savings account on steroids. Anyway, buy in now. Put in money your willing to loose (I doubt you’ll ever loose it all, or even a portion), and just watch it go.
