When Will Bitcoin Hit $3,000?

[Jdesey]

Simply, because people are buying it. That is it. Anything else is pure unadultered BS, because there is nothing unique about bitcoin. But people THINK there is, so they are buying it or holding it and that gives it value.

By the way the stock analogy is a valid one, bitcoin is like a stock/company that doesn't make money but full of promises and occasionally dilutes its sharepool with new shares. Like Tesla for example...

OMG... someone agrees with me... no way! ok there's 2 of us now with Pakelo that have not drank the Kool-Aid

 

[sss12]

And traditional money is "worth" something only ... because people believe it in and accept it for trade. Promises, promises. All around.

Some accept and adept to change, others cower.

Oh, Deep thoughts. Any widely accepted currency that is to stand the test of time needs an element of stability and transparency to be a store of value. Bitcoin, etc. is not there yet, maybe some day.

 

[SunTrader]

Oh, Deep thoughts. Any widely accepted currency that is to stand the test of time needs an element of stability and transparency to be a store of value. Bitcoin, etc. is not there yet, maybe some day.

 

[sss12]

View attachment 174637

Not sure I get it, but funny anyway. gotta like the safe gun handling with the index finger on the stock, outside of the trigger guard. While eating a cookie.

 

[murray t turtle]

And traditional money is "worth" something only ... because people believe it in and accept it for trade. Promises, promises. All around.

Some accept and adept to change, others cower.

%%
Mostly true; except for silver + gold coins.LOL Even that is subject to change; read they melted down a bunch of silver coins last $50 run up..................................................................

 

[vanzandt]

Some guy on CNBC (Jeremy Liew from Lightspeed) says bitcoin going to $500K by 2030.

 

[SunTrader]

ETH is sure having a rough day. And as I thought the touts are nowhere to be found. Hmmmm

 

[Jdesey]

Some guy on CNBC (Jeremy Liew from Lightspeed) says bitcoin going to $500K by 2030.

I did the math... that's ONLY a ANNUAL return of 48.25% for 13 years!! sure seems reasonable to me....

 

[Sprout]

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Jdesey said:
"So please explain to me why this is such a great asset"
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To Jdesey:
While Suntrader is right: do some in depth research. You will be confused by the many different explanations (bitcoin has many use cases for as many users).

To help you on the right track, you have to understand one single thing: "it's a LEDGER"! Plain and simple a Ledger. But one of a very special kind, something that didn't exists before with an usefulness that no other kind of Ledger can offer. Now, why would you ask is a Ledger so much worth? Well, that's because in our daily life everything of worth and value, it's ownership is written down in a Ledger. Think of your car, your house, your marriage, your bank-account, etc. All those assets are written in paper/electronic Ledgers and "safe guarded" by a Notary, a company or Government. But all those assets can be (and will be in future) written in the bitcoin Ledger (or Blockchain of any kind), simply because its a much better Ledger.

Why would you ask, is that bitcoin Ledger so much better than the paper ledger at your Notary? That's because of its unique features: this Ledger is immutable and irreversible forever! And it's decentralized, which means that there's no single point of failure and nobody has the central authority to confiscate your assets (which happened during the War when Notaries stole houses from Judes).
How is it done this immutability and irreversibility? For this we have thousands of Accountants all over the world, safeguarding and accounting the decentralized Ledger. We call them Miners, but in real they are our accountants. With an ingeniously decentralized algorithm it's impossible to cheat (this has been proven for the past 8 years). And for this work each 10 minutes one miner is rewarded a new full page in the Ledger. This new page is currently worth: 12.5 bitcoins. Or better said: this ledger-page has 12.5 full rows for writing down some ownership of an asset. Or you can divide that page in 1,250 million rows (as there are that many satoshies per page). These ledger-rows are very useful so there is a market where supply and demand determines what its worth. Actually these ledger-rows became a currency on their own. Most rows aren't used for Asset registration yet, but became a currency-asset of their own. Currently one full ledger-page is worth about $30,000. It's up to you to decide if that's a fair price, but the market thinks it is. It's unique, it's very useful (or will be in future) and it's rare.

One word for people who say it's not rare, because you can make so many copies. Yes indeed. But it's not the copy that counts: it's the number of users and use cases, and more importantly: it's the number of accountants that work on the Ledger to keep it safe, immutable and irreversible. In this, bitcoin excels. The bitcoin-ledger has incredibly much Hashing-power which technologically cannot be switched to any other crypto-ledger. Nevertheless, other Ledgers like Ethereum and Dash are valuable in their own feature set.

Thank you for an informative post.

One of the criticisms about bitcoin is that the "ledger" is not unique nor rare. The blockchain or it's derivatives is that it could be duplicated among different verticals. Every industry could have it's own blockchain that serves the actors for their particular usecase.

Insuracoin, Medicoin, Realestatecoin, etc. Lot's of possibilities.

 

[Jdesey]

Thank you for an informative post.

One of the criticisms about bitcoin is that the "ledger" is not unique nor rare. The blockchain or it's derivatives is that it could be duplicated among different verticals. Every industry could have it's own blockchain that serves the actors for their particular usecase.

Insuracoin, Medicoin, Realestatecoin, etc. Lot's of possibilities.

Bro... don't worry... some Guru on CNBC says it's going to $500,000... so no problemo...

Great video, everyone interested in BTC should watch it. He literally quoted me, when I was was quoting a Hedge Fund Manager that also liquidated.. "Bitcoin is a solution looking for a problem" He also points to the Mania, and how BTC coud just Print more Bitcoins at will and dilute the value. Lastly, he makes the point that the ledger is not unique. by the way, if you do not know, R Paul is the real deal. He made a fortune as a hedge fund manager and "retired" at age 36. He went on to start up some very successful businesses.


yes, this is Mania at it's best. I do not know when, but this thing will go bust when the hype fades.