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Title: . Post by: bluespaceant on December 11, 2013, 06:09:29 PM .
Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: Gabi on December 11, 2013, 06:22:46 PM Then
1)i am sure they just shorted every bitcoin possible, am i right? 2)then in june we will be able to buy bitcoins for a cheap price! Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: TraderTimm on December 11, 2013, 06:33:53 PM Another piece of complete steaming crap. Starts with this:
Quote One of the harshest critics is Mark Williams, who teaches finance at the Boston University School of Management. He predicts that in the first half of 2014, bitcoins will lose almost 99 percent of their value, falling below $10. And his basis? China's central bank warning not allowing their banking institutions to offer Bitcoin denominated products or direct trade in Bitcoin. Which as we've discussed here, is merely a ring-fencing move, not a complete ban. Then, after that wonderful start, the "pull numbers from my ass" game begins: Quote I view that there's always a chance that a Bitcoin could be adopted. Could be used potentially as a basis for virtual currency. And so that would have some upside. An option premium of $5, $7, $10 seems reasonable. It could be adopted, but it could go to $10. Wow, you're a complete oracle with that one. And with so many reasons! (Not really.) Again an example of a sheltered academic that has next to zero understanding of what Bitcoin is or its true potential. I'm bearish and bullish on Bitcoin as it trades, and if I told people $10, I'd have to justify that somehow. Well this guy can just sit back on his laurels and just say it with zero justification. Its complete bullshit. Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: BurtW on December 11, 2013, 06:36:09 PM Another steaming pile of "journalism"
Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: Chef Ramsay on December 11, 2013, 07:06:42 PM If he's serious about this "bet" he can put his tenure-ship up for collateral. Ain't gonna happen
Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: marcus_of_augustus on December 11, 2013, 07:15:05 PM ummm, what kind of "expert" is this guy exactly? seems like mostly unqualified BS.
Think it is going to be perfect irony that last people to benefit from bitcoin and cryptocurrencies will be mainstream economists defending their faith in Keynesianism to the bitter, poorhouse end. They will be buying last ... and so they should, all the while explaining in grand empty rhetoric how it can never work in the face of glaring evidence that it does. They are the useful idiots of the banksters that have given them intellectual cover to perpetrate their fiat rorts and scams. Note, the banksters are already lining up looking to break ranks and get a piece of the action, the new money, no loyalty there just pure greed, bitcoin is expecting it. Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: HeliKopterBen on December 11, 2013, 07:36:04 PM I would not call for a 99% drop in bytecoin by July.
Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: BurtW on December 11, 2013, 07:41:56 PM I would not call for a 99% drop in bytecoin by July. That is because you are not an "expert" like this guy is.Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: Jochen on December 11, 2013, 07:51:13 PM ummm, what kind of "expert" is this guy exactly? seems like mostly unqualified BS. Think it is going to be perfect irony that last people to benefit from bitcoin and cryptocurrencies will be mainstream economists defending their faith in Keynesianism to the bitter, poorhouse end. They will be buying last ... and so they should, all the while explaining in grand empty rhetoric how it can never work in the face of glaring evidence that it does. They are the useful idiots of the banksters that have given them intellectual cover to perpetrate their fiat rorts and scams. Note, the banksters are already lining up looking to break ranks and get a piece of the action, the new money, no loyalty there just pure greed, bitcoin is expecting it. +1. Howmany times now did they tell that the bitcoin is going to crash(real crash).. They failed every time.. Its getting boring ;D. There is always a possibility but those articles claim that they know it all for sure.. Just speculation, like any other. Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: goxed on December 11, 2013, 09:32:48 PM Huge disconnect between Economics educators and Technology.
Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: superduh on December 11, 2013, 09:50:32 PM If he's serious about this "bet" he can put his tenure-ship up for collateral. Ain't gonna happen we'll just email the university to have this moron removed from teaching bright young minds. he should shamefully just resign though. Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: BitChick on December 11, 2013, 10:01:28 PM Second Market is saying that millions of dollars from Wall Street will be going into BTC before June. It seems highly unlikely that the price will fall 99 percent with Wall Street involved at that level doesn't it? :-\
Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: marcus_of_augustus on December 11, 2013, 10:04:46 PM Second Market is saying that millions of dollars from Wall Street will be going into BTC before June. It seems highly unlikely that the price will fall 99 percent with Wall Street involved at that level doesn't it? :-\ Maybe the professor is mixing up his millions, billions and trillions? ... i.e. can he count? Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: BitChick on December 11, 2013, 10:10:33 PM Second Market is saying that millions of dollars from Wall Street will be going into BTC before June. It seems highly unlikely that the price will fall 99 percent with Wall Street involved at that level doesn't it? :-\ Maybe the professor is mixing up his millions, billions and trillions? ... i.e. can he count? Well, maybe if the price per coin gets up to 1 million each and then falls 99 percent to $10,000 by June? ;D Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: Dalkore on December 11, 2013, 10:21:47 PM I hope so because I will be backing up the truck at that time.
Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: Mike Christ on December 11, 2013, 10:36:09 PM Makes you wonder how much praise JPMCoin will get.
Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: bitbouillion on December 11, 2013, 10:53:08 PM Quote ...Now to mine Bitcoins after 11 million have been mined, you have to have super computing power. It isolates the majority of people who can actually mine.... Obviously he has little technical understanding of bitcoin. Difficulty does not isolate people. Simply, with a shovel you can't mine as much as people with a big rig. Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: BitDreams on December 11, 2013, 10:58:07 PM Seems to me that if he insists Bitcoin is a commodity (i'm not arguing that) then he should not compare it to existing commodities with existing uses but that he should compare it to a commodity that suddenly finds a purpose. As an example, seawater is probably useless and unwanted in many places but what happens when mining seawater becomes practical? If he is going to compare Bitcoin to commodity markets he has experience in then he should show me his charts covering a commodity that's suddenly found purpose.
Edit: I wonder which he would trust more: the records of MERS (mortgage notes in the U.S.) of MERSCORP Holdings or the blockchain? Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: LiteCoinGuy on December 11, 2013, 11:33:32 PM I would not call for a 99% drop in bytecoin by July. That is because you are not an "expert" like this guy is.:D bu honestly: every guy has a opinion on bitcoin, like everyone has a asshole too. Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: EnderHf on December 12, 2013, 12:21:21 AM Wow the guy didn't really seem to understand Bitcoins just the fact the price rises and falls based on supply and demand. He is just following a pattern but where the f**k does he get ten dollars from I get its an estimate. But doesn't he understand bitcoins is backed by the online drug markets and as many economists will tell you they are one of the most profitable organizations in the world.
Title: Re: 2013-12-10 Washington Post - expert thinks Bitcoin will fall 99 percent by June Post by: MMORPG on December 12, 2013, 01:11:16 AM There're honestly too much believers. A market cap of $ 10,839,301,639 (as of writing) on BTC still seems a little low. With 7,198,845,589 people on earth (as of writing). let's say 30% has common sense and access to the internet. Mean every person on the web owns $5,- worth of BTC, with a decrease of 99% this would be 5ct. Which makes more sense?
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