Bitcoin Forum

Good insights from Joseph Carson, the Chief Security Scientist at Thycotic Software who has analyzed the likely decline for Bitcoin

Quote: "The most likely scenario is that bitcoin will die; my current valuation of bitcoin is approximately US $43 as opposed to the hyped and manipulated valuation. "

For the full overview see here:

https://coingape.com/bitcoin-price-predictions-got-wilder-predicts-bitcoin-will-die/

Though very unlikely in my opinion, $43 is definitely not impossible. But imagine the number of buyers there will be from bitcoin dropping to below $1000 alone. I'm pretty sure there's going to be A LOT, including me. Bitcoin at $43 isn't bitcoin being dead though, it's just bitcoin in a significantly lower price. The blockchain will still be up and running, so I'm pretty sure there's no death that's going to take place there; even if bitcoin drops to $0.01.

Last time Bitcoin was at USD 43,- it was quite healthy and part of a flourishing (albeit admittedly largely illegal) economy. Why would that be the "dead of Bitcoin"?

On a less serious note that would also solve the scaling problem as fees would be in the sub-cent area again, even with full blocks.

You clearly didn't bother to the read and understand the article. Typical of "Bitcoiners" when they research something. They cannot read more than one sentence before dropping reading the rest, and then demonstrating their ignorance

Here's a fictional scenario:
At lower prices, most miners will pack up, opening the threat of a 51 percent attack by criminals. If they target the first million coins (in Satoshi's wallet), it's essentially GAME OVER for the integrity of the Blockchain stands permanently compromised.

But, seriously speaking, is that plausible in real life? DYOR!

Two years after the launch of the bitcoin network, the coin reached parity with the us dollar, a milestone that many thought was remarkable at the time. And then bitcoin took a sharp start and soared to $ 19 by the summer of 2011. Then there was the scandal with Mt.Gox and the price peaked, reaching the bottom of about three dollars per bitcoin just minutes after the security of the exchange was compromised. As it turned out, it was not the bottom. For one week in June 2011, the BTC price was $ 2 after a high of $ 32.00. It took bitcoin more than a year to trade in the $ 30 range again.

Besides your quote the article is mostly devoid of content though, what's there to miss? There's not even any mention of how this guy came to that very specific evaluation of USD 43,-.

For example this:


The quote above shows both a lack of understanding of PoW's security principle and is at odds with their prediction of BTC @ USD 43,-. If Bitcoin were to hit USD 43,- or a similar low Bitcoin's mining cost would sink proportionally -- as would its transaction fees in fiat terms, as I jokingly mentioned above.

And then this bit:


That's just a statement without any backing argument. There's... nothing else.


What to say about an article that essentially says nothing?

So the neoglobalist order is on full attack against cryptos good to know

These kinds of "Bitcoin will die" articles are a sign to buy ;)

But why we can't think like this. If BTC go under 100$, Then most people can buy btc. Because that price is not high. So  will that bulk of buying orders hardly affect for a rise up?

Do you really think that their will be buyers. As per my guess even if Bitcoin price goes below $1000 , their will be huge selling and within minutes the bitcoin can even touch $10 also as 99% of them will try to sell it on any price.

Don't underestimate the potentially huge number of people willing to buy at those prices. Yes, there will be panic sellers, but there will also be fomo buyers for sure. While we don't know if the bulls or the bears will win, it's definitely going to be interesting if ever it happens; though again, I really really doubt it.

Just more insanity as usual. We may be way nearer to the bottom than initially expected. These overly pessimistic predictions are classics in Bitcoin bubble and bust cycles, and they typically mark a bottom:

https://i.ibb.co/q9mMVSn/124234234.png

Those guys predicting insanely low prices, if the 0.000001% chance that we saw them, they would buy some because they are traumatized at knowing about Bitcoin for years and not buying in back then, so they would secretly buy in. Of course such low prices will never happen. Those guys are the losers of Bitcoin, they never got it right, never will, and that's a feature.

Does anyone even remember the last time it was worth $43 because that was many moons ago. No way it will drop that low unless someone hacks the security algorithm

Do not even know why did they came up to 43$ instead should have told directly it will go to 0. So people who want to believe such made up stories let them believe in it and those who know the money making opportunity lies now here in crypto currency will keep investing in it.

That article is half year old so. So I bet his valuation of Bitcoin changed a bit. Most likely on positive side and is for sure over $50 now. 

I will not believe this analysis and I don't think bitcoin is going to died . The current dumping will reverse in 2019 and bitcoin will start to build up towards $20,000. Many people speculated in 2016, that bitcoin is going back to $35 at the end of the year but the reverse was the case as bitcoin went as high as $1000 in December 2016. I believe that next year will be favourable and most of the good news we have now will be translated to bull run.

I agree with you, Bitcoin actually works better than ever before. With such low prices, fee for transactions will be near zero.
Blockchain technology is unstoppable, technologies on top of blockchain creates new technologies.
Invest for your better future.

That is dumb. I just read another article by some guy saying Bitcoin is now getting very close to its death spiral in which it will go to zero. He then goes on to claim this crash is different because of three reasons, and two of those reasons are no different than any other bitcoin crash. His only real argument as to why this crash is different was because of futures. So apparently futures will kill Bitcoin according to this other article. Just a complete lack of understanding generally goes into articles like this. Basically it's people who don't get it, who take the opportunity to say "hey look at me I was right!" whenever Bitcoin is in a crashing phase, then they are silent during bull runs or they're screaming about bubbles, and then on the next crash they once again say "hey look at me I was right!" and yet they never end up being right.

It's quite fascinating to see how the price is messing with people's mood.  :D

Sellers aren't equipped with infinite ammo; this isn't some sort of a game where you can cheat to produce trillions of coins to keep selling. I'm pretty certain that most of the selling is over anyway, so whatever happens from this point, is very likely the last ever shakoff below $10,000 becomes a reasonable target in 2019.

Buy support becomes stronger the lower we go, because sellers need to add more coins to end up with the same fiat amount they plan to cash out.

At $1000 per coin I will dump 90% of what I hold in fiat in Bitcoin. I will also sell all redundant shit I own to buy Bitcoin.

Awesome. We're finally doing a full 180° from all the overly bullish predictions earlier in the year. When commentators were expecting $50K and $100K, the price dropped in half. Now that we're seeing forecasts like this, we can see that sentiment is visibly turning.

Remember, most people are wrong. Most predictions are wrong. If everyone expects doom, it probably won't come.

Sure thing it's time for buying, those who didn't got an oppurtunity to invest before will have this time. Weak hands will always doubt. But is this prediction really true? I actually don't believe it. No one can give accurate prediction no matter who they are and their status. Nobody ain't from the future to say like it was going to happen 100%.

I think its depending on the current market conditions, the political conditions in crypto, and the cause of the weakening of prices to such an extent. you can't say it's the right time to buy when you don't know the exact conditions. I'm afraid that many people will be scared when prices fall that deep and people who buy less than people sell

Finally a full bear prediction on mainstream media.

I hope more predictions like this appears.

Yes, if Bitcoin drops in price to one hundred dollars, most of its holders will panic and will reset their Bitcoins at any price. Panic will be huge. However, if the level of Bitcoin capitalization falls to the level of other cryptocurrency capitalization, this can revive the market very much, since it will no longer contain the price of cryptocurrency.

A fully capitalized market does not allow such a situation. If Bitcoin falls to $43, not only will Bitcoin die, but all crypto will die. Bitcoin is not a tulip. It has the power of capital in addition to people’s consensus, and this power usually controls risk.

anyone who has ever called bitcoin dead and only focused on the price have always wanted to buy cheap coins otherwise they would have never talked about the price in first place. in this case the person spreading this bullshit thinks he can buy cheaper coins around $3500ish levels so he is pushing for that so that his buy orders can be filled and OP is just a naive noob who falls for this kind of spam thinking if he spams it here he can make it happen so that his $10 order can also be filled ;)

hi, i think it's excessive panic, thinking bitcoin will fall at the price of $ 43, bitcoin can still survive and not fall as low as that, and bitcoin won't die.

Definitely those who predict bitcoin to hit at 43$ does not believe about the bitcoin future. They are only on focus about the price of btc. We already this year price has been struggled way long, however this is not the end I believe it can survive.

The article brought sadness to all of us, I thought it was just their prediction, maybe it wouldn't happen around US $ 43, it made everyone feel scared and panic.
But if the article is only to read, it doesn't matter, but it must be made only as insight, hopefully the news won't happen.

I understand people are scared and bitcoin looks more scary these days than it ever looked but seriously some of these topics are just trolls. I mean they are probably writing insane numbers like 43 dollars to get your attention and get some hate and all that because they like to get attention even if it is bad one.

Same with people like Mcaffee who said it will be a million dollars, it is just exactly the opposite of saying 43 dollars but the idea is the same, to get some attention from people. Hence, I think even the poster of this topic do not believe that bitcoin will ever be 43 dollars one day, it will never be anything remotely similar for a century probably but to be honest they wouldn't get attention any other way.

Would you write to a post if someone said "bitcoin will be 4280 one day" ? No, I wouldn't write as well since it is quite obvious, but I am writing on a 43 dollar post because it gets attention.

Why aren't people realizing that bitcoin markets are purely governed by demand and supply. There is absolutely nothing connecting it to a real world entity or person't actions. You can't predict its price movements as you would with an asset on the stock market because put simply, bitcoin doesn't tie its value to a company connected to the real world. It's a currency and store of value used for a myriad of purposes and attempting to predict any of them would lead to random results at least 50% of the time.

I dont feel sad after seeing this because i already know that this isnt true . online world is pure of fake news/articles and they only doing it in order to possibly manipulate the price of cryptos  .

But let say that btc will drop at 43 usd  , i think we shouldnt worry at all but rather we should feel happy because we can now buy it again at a super cheap cost .

 43 dollars isnt also the dying state of bitcoin . we can only say its dying if the value will end up in zero permanently but that is impossible to happen .

To jump on that scenario is too far from reality though it might happen in some time but it won't happen this and next year. As if people have had an unlimited money to buy or sell everything they had, mostly of them would have hold it rather than selling or dumping. Some of us are blinded by the FUD and this dump but some of us are just watching the entire scenery and is waiting to drop everything when it is ready.

you're right, nowadays so many people lose their enthusiasm and optimism. when prices drop, lower prices will be predicted, even some say the price of bitcoin will be $ 1, or even die. well, the fact is, at present, there are still so many who buy bitcoin at current prices, and can even be said to still have enormous potential in price growth. I think that after seeing prices drop dramatically, many people lost their enthusiasm.

If BTC dies then I feel the entire crypto will be dead, guys just stop spreading rumours by adding a source. Why you people's are so much hurry to finish BTC?

I hope you remember what macafee said before years  he said the value of BTC will go 1million dollar this year, does it happen? It's just a speculation you need to research on your own and invest on the coin which favours you.

It's just a possibility and there's no certainty, and I don't believe if bitcoin falls to $ 43 and then dies. Bitcoin can still survive and still have a future, and despite a lot of bad news, I will still hold on to it.