Crypto 100k Bitcoin in next 3 years.

Fair statement to make - Bitcoin is here to stay (imho). Also each bitcoin will a hit new all time high of at-least 100k in next 36months.

Keen to find out what everyone else thinks on this forum and if people still think it's a scam of the century?

Cheers,

 

What makes you so bullish?

Though every type of crypto has a max limit, there is no limit on how many types you can create (bitcoin, litecoin, ethereaum etc)
ICOs are the new black in ponzi universe

For all the motherhood statement about BTC/ETH being a statement about mistrust of governing system, once scammed they run to the same system for protection .

Blockchain technology has a place, I am curious about Libra let see how it shapes.

 

When one walks into a book store -- one section will cover biographies of successful women and men
and their specific explanations on how --when --and why they made it big in life ..I have only seen a few on success and bitcoin...

Myself i'm still unsure about bitcoin I still think it's a ..100k in 36 months once you break that down into months x days and with a business models high mortality rate and modern snake oil salespeople combined it's anyone guess..

 

Until it can go for more than 6 months without crashing or skyrocketing, it's not a currency or an asset. People were saying it would go to $100,000 a couple of years back when it crashed back to $3000.

Anything that needs to be hyped by celebrities is not an investment. Whether it's "here to stay" is irrelevant. So are pyramid schemes. That doesn't make them an investment either, and bitcoin's got a long, long way to go before it can be considered remotely stable or reliable.

Its entire value could be undercut by monetary regulation. This hasn't happened yet, but you know what governments don't like? having no control over their currencies. They can and will regulate the poop out of cryptocurrencies eventually.

Digital money is also something we had years before bitcoin. It's not filling a market need as money (I mean come on, hardly anyone uses it as an actual currency; people use it to speculate). Exactly what value does a cryptocurrency provide over money?

Bitcoin's value could be lost to cryptocurrency competitors like Libra or who knows what else. Nothing makes "bitcoin" special except that it was first.

If you want to buy it, pick one with a stupid name and have at it, but its value in 3 years time depends on where it's sitting in its rollercoaster of a manic hype cycle, and that does not have the makings of a currency or investment.

 

You couldn’t get a more stereotypical / completely false few paragraphs if you tried - well done!

- Libra is a centralised stable coin - completely different.
- Governments can’t shut down bitcoin - this is one of the many advantages.
- Digital fiat has existed for along time, ask the people of Cyprus how well their digital fiat money faired when the government came knocking...

Bury your head in the sand if you must, but at least try to educate yourself a little. Bitcoin is the best performing asset over the last 10 years by a mile.

 

No one can say for certain what the price of bitcoin will be in 3 years, but it’s pretty certain it’ll be around. If it was gonna die, it would already have a few years ago.

I find it a pointless exercice to explain ones’s views to septics when it comes to crypto - either way one’s mind is already made.

I just remember when I first was involved in crypto in 2013 and bitcoin was barely at $100, $10,000 was a complete pipe dream, it was today’s $100k. Well, we know how that turned out. There were plenty of naysayers back then too. So I guess we’ll just have to wait and see what happens. Could very well crash. Or it could skyrocket.

Personally - and this is not advice - I think it is worth having at least a little exposure to it, the risk/reward equation looks asymmetrical to me, with a large potential reward for a risk that is what you put in.

As to the merits, value, use case of bitcoin etc., there are many resources out there for those who want to genuinely educate themselves on the subject. The book/audio book “the internet of money” by Andreas Antonopoulos is a great place to start.

 

What fundamentals lead you to believe this asset will increase 10x?

I dont think it is a scam but i do think it has no real value other than to speculators. I think some form of digital currency will come to the forefront at some time in the future, probably not Bitcoin though.

 

In an Australian first a Sydney woman has pleaded guilty to stealing $450,000 of XRP

NOT SORRY: Aussie woman hacks $450,000 Ripple using a simple trick

Somewhat ironically, by the time she was charged with the theft of A$450,000 of Ripple, it was only worth $64,000.

Thanks to XRP’s long decline – it’s the only cryptocurrency in the top ten in the red this year, dropping 23% – the XRP she stole is now worth just $39,900.

 

Bitcoin is basically digital gold with more chances to swing trade due to instability. If **** hits the fan within the economy the cost of Bitcoin will skyrocket, and probably plunge again immediately after as the Jeckyl/Hyde nature of this investment class reveals itself.

Buy a few coins now and time your exit correctly in a recessionary environment and you will make plenty of money in my opinion. Buy on the next dip and then rinse and repeat. Trying to predict actual movement numbers and timing is futile with this highly volatile asset IMO but the cash is definitely there to be made and the fluctuations mean you can go from losing to winning very quickly and vice versa. Hold your nerve through the losses and they will turn into wins in no time flat.

Not investment advice, just an idiot's opinions.

 

'Digital Gold' - haha. Trying to leverage some credibility for an asset which is the complete opposite of gold. I dont really like that term.

 

You can touch gold. You can’t touch Bitcoin

 

Opposites in some respects, similar in others. For instance the mindset of the investor that approaches them may have similarities. Owing to this, the way they perform during a given cycle of the market may be similar, albeit the movements of bitcoin are more lurching and speculative. As a disclaimer I own neither. I also believe the 100K figure is absurd.

As to your postulation of no real value, no der
But "money value" is for the markets to decide and the cap of the coin suggests plenty disagree with you there.

 

Its all about Stock to Flow ratios....and halving rates...

Check out Plan B on Twitter - PlanB (@100trillionUSD) | Twitter

USD 1m by 2024/25

 

Yep, been thru all his models in past!

Have to say - some amazing work he has done so far..

 

I have always thought Bitcoin will simply become a store of wealth.
Whilst I understand gold has many other purposes and benefits, it’s majority use (as I understand it) is storing wealth.

So in that regards I suppose is where it could be called digital gold. Admittedly it needs to become very stable to have any trust in storing wealth in it. For now it’s equivalent to going to the casino and loading up on red or black.

 

Agree on more or less everything you said.

Regarding it to become more stable - it's market cap has to go up much higher and the only way that can happen is by speculation (which is equal of going to casino)..

 

I actually made some money off Bitcoin recently.

A friend of mine bet that LTC will be $150 or above by October 21st. At the time based on the trajectory it was headed well beyond that.... guess I'll collect that one

 

You pretty much summed up my main concern with Crypto when you didn’t mention one reason why you think it will x10 in price in three years.

There are very few predictable elements around Crypto and it’s not anywhere near being a strong investment imho.

The people that hype the crap out of it and mention numbers like you don’t have any good analysis or facts to back it up. I agree with the above comment that global governments will regulate this type of currency in time and if you believe something will x10 in value in 3 years you are already walking a tightrope.

Obviously I don't speculate.

 

On speculation - Worth looking at history sometimes! Sea shell, spades, cowes, gold, and list goes on (all started with speculation) ..

Some ppl can argue property market is a speculation/pyramid scheme too!