This guy says futures are a failure

[themickey]

@sle you had the futures pegged correctly in various posts, but you fail to recognize what is happening. Bitcoin will be far above $50,000 by the end of 2018. Fortunes will be made in the next two years as specific products based on the blockchain technology come into play. Most on ET will miss out because they are so superior minded and can not think beyond tulips and other ridiculing comments.

First off, making predictions is just that, an opinion, not reality.
I've never traded crypto and possibly never will.
In order to trade something effectively, one needs an insight into it, like studying the behavior of a wild animal before deciding they will go out and hunt it.
Crypto trading is still in its infancy, my opinion, it's similar to the behavior of penny dreadful speculative stocks, a special breed of trading. My fear is, the majority of people trading crypto are rookies, they are the 95% who will get torched.

 

[henry76]

Even if lllini Trader is right( as in above post) , over 90% of Bitcoins price rise is behind us.

 

[Illini Trader]

First off, making predictions is just that, an opinion, not reality.
I've never traded crypto and possibly never will.
In order to trade something effectively, one needs an insight into it, like studying the behavior of a wild animal before deciding they will go out and hunt it.
Crypto trading is still in its infancy, my opinion, it's similar to the behavior of penny dreadful speculative stocks, a special breed of trading. My fear is, the majority of people trading crypto are rookies, they are the 95% who will get torched.

You are right on one thing for sure. Cryptos are in their infancy and will change our world in a manner similar to the way the internet did. The money now is made by the holders. Finding cryptos developing a specialized product, get it bought and hold on. Most of the coins and the new ones that will be coming out will be junk but the gems will be priceless. They are not competitors to Bitcoin as Bitcoin itself does not really do anything at all. It is the grandpa of them all and is accepted world wide as a store of value. Litecoin is will be the transaction coin when it comes to that. But there are and will be many innovative uses of this new technology and they are investments not trading vehicles.

I laughed at one ET guy in another thread whose soccer playing brother in law became a millionaire by buying Populous PPT at 30 cents. He was furious at his wife for buying some and forced her to sell it immediately. I own some and it is a good long term hold. This morning PPT was around $41.00. This is what I mean by most of ET being behind the curve in a big way and not comprehending what is taking place.

As far as trading Cryptos, the infastructure is just not there yet for easy trading. It is hard sometimes to just acquire a coin. Rest assured the the rookies are having trouble even getting accounts open so they are not 95% of the people who will get torched. That will be you when you finally throw in the towel and begin buying in about 3 years. (All in good fun here)

 

[Illini Trader]

Even if lllini Trader is right( as in above post) , over 90% of Bitcoins price rise is behind us.

More likely that Bitcoin has not even entered the upward part of its long term chart. People will be wearing T-shirts saying I bought Bitcoin under 10K.

 

[henry76]

Firstly Bitcoin is a lot more than 10k today , again a reason why most of it's rise is behind us , secondly a guy named Koch bought 5000 for 27$ in 2009, to see the same sort of rise again (and more according to you)would take more money than there is on the planet by many multiples , I can't be bothered to do the math, but it's a tiny bit more than 1/2 a cent each,which means to replicate same return Bitcoin will need to go up over 3,000,000 times it's current price ( mkt capitalization at well over 750,000 trillion ), do you stand by "More likely that Bitcoin has not even entered the upward part of its long term chart." Good luck with your T shirts , I won't be buying.

 

[Illini Trader]

Firstly Bitcoin is a lot more than 10k today , again a reason why most of it's rise is behind us , secondly a guy named Koch bought 5000 for 27$ in 2009, to see the same sort of rise again (and more according to you)would take more money than there is on the planet by many multiples , I can't be bothered to do the math, but it's a tiny bit more than 1/2 a cent each,which means to replicate same return Bitcoin will need to go up over 3,000,000 times it's current price ( mkt capitalization at well over 750,000 trillion ), do you stand by "More likely that Bitcoin has not even entered the upward part of its long term chart." Good luck with your T shirts , I won't be buying.

I do not see how all your fuzzy math invalidates my premise the Bitcoin has a lot farther to go on the upside. I do not believe that I implied that Bitcoin was going to go up 3 million times its current price. That would be a bid ridiculous beyond anyone's logical thinking. I will say that I think Bitcoin will be at least $300,000 by the end of 2020. Aggressive maybe but my T-shirts can be pre-ordered if you want one. But then your did not buy under 10K so scratch that.

 

[neke]

I will say that I think Bitcoin will be at least $300,000 by the end of 2020

That would be $6.3 trillion anchored on thin air - of which clones are everywhere - even better ones. Care to tell us how many bitcoins you own?

 

[henry76]

To Illini , you wrote

"More likely that Bitcoin has not even entered the upward part of its long term chart"

Pray tell how this does not IMPLY an INCREASE in price rise over and above previous price rise ?

 

[henry76]

Cutting through the hyperbole for a second , I was for buying Bitcoin in the past if you read my posts , basically as it was going up fast , however this becomes less and less sustainable , and for some this seems to have been missed. It's easy for a capitalisation to go up exponentially into the millions even billions , but quite another into the trillions , the sheer amounts involved make this increasingly difficult and ultimately impossible , this is obvious. What's more as I've previously stated Illini even if it went $300 000 that would no where near match it's previous performance, I say it again , most of Bitcoins rise is behind us , not in front,

 

[Illini Trader]

That would be $6.3 trillion anchored on thin air - of which clones are everywhere - even better ones. Care to tell us how many bitcoins you own?

2nd time you asked --- must really be curious. I will say I own 8 different coins with the largest holding in Bitcoin. Bitcoin is the Gold Standard store of value period. Other coins do different things and have applicable purposes and many will have greater percentage gains than Bitcoin. Most coins are crap but some are developing real beneficial products. Bitcoin is gold without the elites of the world controlling the price. It will always be a refuge as the economies of the world begin to suffer and crumble.