Bitcoin Forum

Business Insider is a page on facebook with 7.5 Million likes. it is stated that bitcoin will soar to over $20K on 2022 by cannibalizing gold.

i don't know where they got this idea, they just basically did a comparison about bitcoin and gold.  Either way what can you guys say about this?

view the whole video https://www.facebook.com/businessinsider/videos/10154847897019071/, it got 1.9K likes and 263K views at the moment.

I see a lot of maninstream media lately talking about bitcoin, but it's sad that we are going through this hardfork mess right now killing the price. If miners activated segwit with BIP141 we would be flying into 6 figures, but miners are compromised by governments trying to hardfork bitcoin into segwit2x or whatever other crap they can control so we are under attack and the price reflects this. Time to buy some discount bitcoin soon while it lasts.

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NO ONE knows what will happen in the future, I have seen that here at bitcointalk among even very knowledgeable people here.

The smart thing to do, IMO, is own and hodl both Bitcoin and gold.  Their prices move relatively differently, and so are both great diversification out of FIAT$.

Both BTC and gold should do fine.


EDIT: BBZ just above offers good advice: BUY if you can afford it.  You may lose, but more likely will win.

Bitcoin is a digital currency that is not tangible compare to a gold that you can a lot of things and really usable in real life(I am not saying bitcoin is not usable)

Many people said that Bitcoin is like an asset more than a currency nowadays because if you hold a single one of it way back in time and wanted to sell it in today's value you will really getting a big profit. So if they are comparing Bitcoin to Gold then they just wanted to write a thing about it to make it interesting because this two is on a different league for me.

I disagree with the first part of your post, you can buy more things with bitcoin than with gold, in fact in many countries is forbidden to try to use gold as a currency, you need to sell it first and then you buy things with fiat, in the case of bitcoin there are many products and services you can buy directly with bitcoin.

I could only see this as a ploy by someone who paid a good amount of money to business insider to be able to get more and more people interested in bitcoin which in turn gets more people to buy it in hopes that they're going to be getting rich quick from it. I'm not going to come out and say that I think the publicity doesn't help as it sure as hell does do a lot for Bitcoin to get the word out.

I just don't feel as if this is the right comparison to be making to the people, as these are two things that shouldn't really be compared. Gold being more of a commodity while Bitcoin is a CURRENCY which can be exchanged all the time without the issue that gold presents.

Feel this has mal-intentions.

I have been watching Business Insider and Tech Insider a lot in the past few months. Their content is superb, highly educational and not biased like so much that we see today. I am subscribed to both channels on YouTube and like all of their videos.

I like how this video says that Bitcoin will cross $20,000. When that day comes... wow, will it be insane.

Here we go again Billy the Silly - what governments and evidence please.

How about compromised by Blockstream and partners, evidence out there already.

The evidence is obvious for anyone that isn't a retard. They want to make bitcoin ultimately have insanely big blocks that will not be able to be run unless you are a specialized corporation just like mining. If you don't see the implications of this then go back to school and study some game theory.

Still no evidence.

What evidence you need? Just look at Bitmain (Jihan Wu), Roger Ver and Craig Wright's statements. All these guys want full validating nodes away from people and into corporations they own. Do you really think there isn't government forces pushing that agenda?

Look at the data of growth that different blocksizes would mean, look at the latency, the whole thing, it's just a mess. Bitmain wants 8MB by august 2018... insane.

There's a great sign on that video.  Almost every single person commenting on there is completely ignorant about what BTC is or why it is valuable.

The top comment is dumb enough to claim that BTC has an infinite supply and that the supply will grow more if more computing power is dedicated to the network.

This kind of ignorance about a fairly simple system is exactly what happens when new and interesting technologies get developed.  Sure, the value behind BTC is speculative, but so is that of gold.

I'd say it'll be bullish as fuck 20-30 years in the future when these people figure out what BTC actually is.

I do have a simple doubt,in this day and age having a bigger hard disk is not a big issue,so what is the big issue with the growth of data,let the big players run the node ,take the case of p2p ,for better speed you have to use a dedicated server and everyone uses that and still it is decentralized ,why cant that happen for bitcoin too,will that hurt bitcoin if it is spread all over the world, i am not sure about it,just my suggestion.

Wow seems like bitcoin would get more investors because of it,
Bitcoin being advertised in the media hope that this would bring us a good effect .
The bitcoin community is growing and that's for sure.

Right now, bitcoin price at $2,020 and they said over $20K in 5 years later, consider how much bitcoin could rise every year, it has slightly chance to reach that price imo. If bitcoin prices could increase as much $1,000-$,2000 every year, then it will be around $ $7,000-$12,000, but I will say bitcoin may reach over $10K. I don't think bitcoin could cannibalizing gold, because it has different value , usability and physical form which make it impossible, gold is precious metal and bitcoin is digital currency, it can be trade but can't be cannibalizing.

Still speculation. Government could more likely be pushing Core to keep it at 1mb. Nothing wrong with 8mb.

Wrong or not depends on your agenda:

https://np.reddit.com/r/Buttcoin/comments/6ndfut/buttcoin_is_decentralized_in_5_nodes/dk9c27f/

Again it's not only growth of data but latency and other issues, the percentage of growth depending on the blocksize varies heavily.

https://www.youtube.com/watch?v=iFJ2MZ3KciQ&t=49m

I recommend to watch this full video but this is a good section explaining it.

Bicoi is a digital currency many people said that Bitcoin is like an asset more than a currency nowadays because if you hold a single one of it way back in time and wanted to sell it in today's value you will really getting a big profit.  Bitcoin is the digital currency use full to the online purchases and transfer the money for the developers