Bitcoin Forum

It's true guys, a professor in finance at the Boston University School of Management and is a former Federal Reserve Bank examiner told me so. Bitcoin is going to drop like a rock in a few hours  ::).


http://www.businessinsider.com/williams-bitcoin-meltdown-10-2013-12

yeah, well I heard it would go to $20,000.  WTF?  Who is right around here?

You heard wrong. It goes to $10 by the end of June. ;)

I was wondering when this day would come
So I guess its time to say you sir just got served by Bitcoin BTC
So much for the flawed DNA of Bitcoin then again he has fun bashing
http://www.businessinsider.com/author/mark-t-williams

I sure would buy a lot of bitcoin at 10$.

I'll buy all your bitcoin right now for 11$ each.

Ha! One day, he'll be having lunch, someone will recognize him, come up, and calling him "flawed DNA," ask what his prediction for 2015 will be.

Ohhh my mistake, I made a wrong assumption! Please forgive me!  ;D

Who knows? May be he thinks that he could travel back in time and go to 2012.  ;D

http://blog.iese.edu/economics/files/2013/05/Bitcoin.png

He came out and said that he was sticking to his claims didn't he? I think he just extended his time table...

Thats called a "cop-out" lol

Hi Keithers :)

Mind = Blown

Sup Mage! Thought I'd drop by your thread...  :). His longer time table is better than saying he was completely wrong... Haha

I would love to engage in an email with him....I might just do that if I had direct access to him. Maybe ill do some investigation tomorrow and see if i can get an email for him.

I don't have a link but there was a moron from yahoo I thing that wrote " bit coins eulogy" during the March sell off. I would love to hear him admit he was wrong but I am not holding my breath.

A professor of risk management? Soon this man will be a laughing stock. He has discredited himself.

If that university has any self-respect whatsoever, this man will never teach there again.

Or is he tenured?

I do not believe it! The BTC has intrinsic value and would never decline as low as that.  The difficulty is so high and in order to mine some BTCs, you have to buy miner and pay for the electricity.   

11.01  ;D

If the value will drop suddenly to 10$, in no time thousands of bots will buy all that they can afford quickly regaining the old higher price.

I agree found the coindesk article
Williams should recognize that when you discuss what you do not understand, you inevitably end up looking like a fool. However, he did not, and his folly should hopefully warn other economists to closely analyze Bitcoin before making bold claims about its future. If not, that’s okay too, because /r/Bitcoin can always use some more comedic fodder.
http://www.cryptocoinsnews.com/news/mark-t-williams-bitcoin-price-prediction-wrong/2014/06/01

Oh boy got a beautiful list of myths
http://www.cryptocoinsnews.com/news/mark-t-williams-bitcoin/2014/02/17

Groups that are against bitcoin:

Banks
Governments
Professors
Economists

I wouldn't over exaggerate and say that all professors and economists are pitted against Bitcoin. While quite a lot of professors hold a traditional view of the monetary/fiat system I don't doubt you'll find a few open to the idea, at least as an experimental concept in testing (which Bitcoin can be considered as at the moment). Meanwhile most economists can hardly agree with each other about what theory works with the current system so you'll definitely find some who are with the precepts of Bitcoin.

THAT is what would drive the price down, if people started trading at those prices. I wouldnt complain tho ahah

Just read this forum... Just like me most of the members here are more than willing to buy bitcoins at $10. Or at $100 for that matter. Or even $400. Hey, that's demand. And that's exactly why the exchange rate is not going to crash down to $10.

By the way, if someone insists on selling their BTC for less then $10, please contact me. I'll help you out with that ;D

If you won't have enough funds to buy them all, ask me  ;D
We won't see such price in the future, maybe $200 but it's very unlikely.

Challenge accepted!

Sell me all your coins for $10!

It is highly unlikely that Bitcoin will reach that low. Look at the order-books. If you combine all the major exchanges (BTC-E, Bitstamp.etc) then all the 13 million existing Bitcoins will be mopped up by the buyers, even before BTC reaches $100. So unless we see the vast majority of the buyers canceling their orders, I don't expect Bitcoin to hit $10.

Chances are the guy is going to be wrong, but on the other hand, so are most of the people that said it was going to be $10000 by now.  I don't see anyone laughing at those people, though.  Singling someone out on a lousy prediction isn't really going to change anything, so we may as well focus on more important things.  Maybe draw a little less attention to the price and concentrate more on overcoming obstacles, the benefits over the current system and where to go from here to make things even better for the future. 

Haha! of course most of the moontards on here will be wrong they are having fun. The  big difference is this guy is supposed to be respected was given a public platform to spout his drivel, dissing Bitcoin, so  he fully deserves any kickback ;D

I'm sure he meant $10 per mBTC

Oh, he wasn't? Let's all point and laugh.

Oh really? Somebody made a public statement that bitcoin is going to be 10000 by June 2014? I must have missed that, please link, I want to make fun of him.

If you are a public figure and a supposed professional in the area you are speaking about, and you give exact date and price, then after that date comes you say "Maybe in a thousand years but it will happen" well you lose all respect, that's what happens. That is why stock analysts never say "this stock is garbage will be worth pennies in a week", they always say that it might unless it does not. This guy was sure about his prediction. That makes him an assclown, unfortunately. See if he'd be right by some miracle, everyone would be singing praise as to how smartly predictive he is. But he was not just wrong, June coincided with the strong 100% growth after a reversal from a bottom - the bottom which happened to be about 35 times over a price that he called. With that level of accuracy, any random number generator is a much better professor than he.

Agreed.  Not only did Mark Williams say it in print, but made himself more of an assclown by saying it on live TV.  In a N.Y. state hearing, broadcast to over 100+ countries.  And then he didn't stop there, he did it again and again on live TV.  And was probably paid (both privately as a shill against bitcoin, then again by the networks just to appear) to do so.

Then again recently defending his ridiculous prediction, but giving no timelines.  I wouldn't be surprised if this guy isn't working on a controversial anti-bitcoin book right now, just to try and make some more money and extend his 15 seconds of fame.

What. An. Assclown.

I'll pay $12

(A hint at why the price hits a floor)

Everyone here prays for the professor to be right  :P Cheap coinz 4 everyone!!!!11!!!!!1

I dont understand how someone would make such a prediction.
For that to happen there would be so much bad news about bitcoin.
Like the price is stable over a few 100$ for a while now.
Also we have seen that the mtgox bad news only, gave bitcoin a black eye.
But it recovered quickly so to say it has to go to 10$ soon I say you are crazy to believe that!

Mainstream financial media

Their advertisers

Competing financial services

The list goes on.

I don't understand how someone in economics can't see how BTC has the potential to be extremely valuable. I mean, it's the first time you can send money all over the world in any amount without a bank or other money service gouging you. Even if the banks used it for their own transmission of funds, wouldn't someone in economics recognize its importance? I haven't paid much attention to him. What were the reasons he choose such a low amount as a "fair price" for BTC?

There's still an opportunity for everyone to be right. June is going to be a wild ride!

so first 20000 then 10 or the other way around? )

at the time bitcoin was $1000 or so and he predicted a 99% drop in price

Oh, well that's different then.  I'm sure he had a drop from $660->$10 on his chart for June.

Well, you know the old saying.

Those that can, do.

Those that can't, teach.

williams@bu.edu

http://smgapps.bu.edu/mgmt_new/profiles/williamsmark.html

i'll bid $15.50 for all coins. only buying today.. may lose interest if it drops any closer to $600 @#%$$#%

I am an economist, and i am full into bitcoin and cryptos and decentralized massive scale systems. Well, i am also a theoretical physicist, and observing physical reality makes it REALLY easy to grasp economic reality (unlike most economists, whom living in the ivory tower and fantasy about "just society" lol). Actually, 90% of my wealth is in bitcoin and cryptos by now, as i simply regard it the next natural evolutionary step of "labor division exchange utility" - and i also made a few lines of coding and still pretty young enough to be open minded  :D

But true, i tend to disagree with most of the economists. As there are only a few good doctors/bus drivers/bakers, why would this be different for economists  ;D