Bitcoin Forum

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I've been arguing with this clownguy for months about this now he's on board?!? wtf!
Thanks Erik V

The sad idiot shoulda learned from his dad bekng murdered by greedy federal agencies.

The social/cultural changes represented by Bitcoin are not about greed and Lambos.

Some of those who criticize bitcoin really owns it because they have the hidden agenda from doing that. Now this scenario is the proof that whether you believe on bitcoin or not, if you experience to earn money you will slowly love it to hold more bitcoin. Well, he might be buying more bitcoin now and still planning to hold until the moon was hit. 

To me I see those that says all the time with so much anticipation that I would hold till bitcoin boom as not really seeing bitcoin for it real substance and value. They are the type when a bear market comes In they would be quick to panic and instigate critical thought about bitcoin.
Try to at least value bitcoin, believe its usefulness rather than yet another investment initiative.
This believe you would have in bitcoin would determine your stance in the good or bad times.

there is another factor to take into account which bend the time in crypto and it work only in small supply coins...

when the supply is very small like 21 million coins and demand is to much big and no body sell coins its surge the price to astronomical number and in this situation the marketcap is misleading somehow...

lets look on this effect in different industry like diamonds.

lets say for now that there is x=500000000 demand for y=7000000 diamonds , now in order to understand this effect we need to think what will happen if we lower y to 30000000 just for the example, in other words the demand is much more big now and its surge the price per diamond without actually selling any,

what i mean is when demand is grow and there is low supply and no body sell its surge the price per coin to astronomical number and in this point market cap is some how fucked up its hard to calculate this,

its just example what can happen with small supply coins when there is huge demand and no body sell them and there is max supply compare to diamonds and gold, its fucking surge the price to astronomical number, its happen over the history in other verticals....

for example there was few rare diamonds which the price was around 80 million dollars per diamond, the demand grow for them and no body was sell them so the price surge to 150 million dollar per diamond , so after some time was founded bunch of this diamond compare to few , the price fell to 60 miilion per diamond.

its a game of supply and demand and if supply is very low and demand is very huge and no body sell its surge the price of the supply to astronomical number.

this kind of effect cannot happen with projects with billions of coins because if the supply to much big it lose value over time and demand will never will be more then the supply in projects with billion of coins.

there is another factor to take into account which bend the time in crypto and it work only in small supply coins...

when the supply is very small like 21 million coins and demand is to much big and no body sell coins its surge the price to astronomical number and in this situation the marketcap is misleading somehow...

lets look on this effect in different industry like diamonds.

lets say for now that there is x=500000000 demand for y=7000000 diamonds , now in order to understand this effect we need to think what will happen if we lower y to 30000000 just for the example, in other words the demand is much more big now and its surge the price per diamond without actually selling any,

what i mean is when demand is grow and there is low supply and no body sell its surge the price per coin to astronomical number and in this point market cap is some how fucked up its hard to calculate this,

its just example what can happen with small supply coins when there is huge demand and no body sell them and there is max supply compare to diamonds and gold, its fucking surge the price to astronomical number, its happen over the history in other verticals....

for example there was few rare diamonds which the price was around 80 million dollars per diamond, the demand grow for them and no body was sell them so the price surge to 150 million dollar per diamond , so after some time was founded bunch of this diamond compare to few , the price fell to 60 miilion per diamond.

its a game of supply and demand and if supply is very low and demand is very huge and no body sell its surge the price of the supply to astronomical number.

this kind of effect cannot happen with projects with billions of coins because if the supply to much big it lose value over time and demand will never will be more then the supply in projects with billion of coins.

this effect will start to work when people dont need to convert crypto to fiat money and use it directly ,

zeex startup going to help this happen and by this kind of stratups we can predict this kind of effect.

zcash spiked to 2.3 miilion per coin becaus of this effect

I am very confused by what everyone is saying that bitcoin will be able to achieve such a high price. Because often the market behaves contrary to the forecasts of the majority. It may never happen as much as we'd like to believe it.

In a Bubble, or Mania, the Market ALWAYS behaves contrary to the forecasts of the majority, warnings of the bubble are dismissed and ridiculed by those blinded by greed.    This has happened many times throughout history. 

Peter Schiff was laughed at when he forecast the housing bubble, and 2008 crash.   Very much like we are seeing here in his forecast on Bitcoin.     Only a fool would have a significant amount of money invested, and not look at, and seriously consider all information and risks.

Are you peter lets try some word play and see your post history ?
More ironically the date created on your account!

"I was laughed at when I forecast the housing bubble, and 2008 crash.   Very much like we are seeing here in my forecast on Bitcoin.     Only a fool would have a significant amount of money invested, and not look at, and seriously consider all information and risks."

A  fool smart guy and his gold are soon parted, and united with Bitcoin.

and jk i dont care if your peter welcome to bitcointalk

Best to have a balanced portfolio.   I've been into crypto for 9 years and despite wonderful gains (and way better gains than any other assets I hold), I still advise balance.   Never be all in.   Balance between stocks, fiat (and a wide basket of currency while in fiat), real estate AND crypto.   

I don't think he bought any more Bitcoin. He says that Erik gave him about $50 worth and he hasn't touched it since the conference.

So he could of given him the Bitcoin when it was $250 per coin and right now he would be up to $2000 with his original $50 deposit.

I don't know why he actually brings this up. The guy is almost 60 years old and in my opinion Bitcoin is too technical for him and he probably won't invest too much into it. Basically no different than Warren Buffet.

Bitcoin is for the millenials pretty much and people that are more technical with computers and such. Will be a while before it becomes user friendly as an iPad.

I sense a hint of sarcasm in that post, and such a price is not feasible in the distant future. But is it a possibility? I would say yes. For Bitcoin to be a global currency and be used as reserve funds then it has to be valued Hugh enough to cater for the entire globe.
The supply is fixed, so that leaves only the price to grow.

Eventually everyone would want to own bitcoins, and there has to be enough value to go round.

it the proof that dont always believe what other people say some of them have hidden agenda
bashing bitcoin can be use by some people with influence to buy cheap from weak hands
he might learn the true value of bitcoin and taking advantage of the influence he have.
i will not be shock if he reveal that he have a lot of bitcoin and buying for a long time.

Slowly, more people will come out of the closet and take ownership of owning Bitcoin. I think almost all of them who are against Bitcoin does own some of it. They do know that someday it will moon and they will have more money to spend.

There is a hidden agenda. If Bitcoin goes down I will go to the public and claim it as a Bubble. If it goes up I will enjoy with that money.

If he doesn't like bitcoin, then let him choose from the 2000+ altcoins, surely he might just like one of them, maybe HST decision token ;D

This has very little to do with the total supply as such

You can have only 21M of Bitcoin and like 99B of Dogecoin (I don't really know what Dogecoin supply is these days but it is definitely way higher than Bitcoin's), so it looks like you are correct. Well, the truth is you are not. You can just use another unit, and then there'll be 21 quadrillion satoshis. Now we have 21 quadrillions of satoshis with a price tag (per satoshi) quite comparable to 99 billions of dogecoins (per dogecoin), which clearly shows that your reasoning is pretty much flawed. It just happens that the demand for bitcoins is way higher overall than the demand for dogecoins, and that drives the prices up irrespective of the unit used

I am not sure whether I should criticise him for being a hypocrite, or praise him for advocating holding of bitcoins. How many of you’ll feel he has already brought lots of bitcoins, and is waiting for it to go up and then he’ll sell it. The prediction he has made won’t be achieved anytime soon, which proves he has no knowledge about bitcoins and he has copied the number which other analysts keep on repeating.

Everyone has their priority and Philosophy on what to do with the profits you earn from your investment, what is the point in dictating others on what they want to do with the money they made  :P. I am not going to comment on his dad's demise but he is an investor and he was skeptical and even now with this tweet i feel it was kind of a sarcasm from his part about bitcoin reaching a million dollars, i feel like he made that tweet to prove that the media outlets favoring bitcoin will take something out of nothing and create a new version of their story  :D.

Never heard of this guy. I don't really see why we should care about his sarcastic comments either way. Its not like he is Bill Gates or some other huge personality who can help BTC adoption move upwards drastically.

Ignore the FUDsters people. They probably might have felt embarrassed when Bitcoin shot up to thousands of dollars from a couple of cents. They will always find something to complain about. Your own belief is what matters the most at the end of the day.

I think it is clear that he is not "into" Crypto currencies, but he does not mind getting profit for free. The $2000 is insignificant, compared to his other investments, so it does not bother him at all.... he can just poke a finger at it and wait for it to Moon.  ::)

I do not like Gold & Silver and stocks and bonds, but I own some of it, because I NEVER put all my eggs in one basket. He can decide what percentage of his wealth must be in high risk investments like Crypto currencies, so let it be. <We have to decide on our own and not forced to buy specific commodities or financial tools>  :P

Peter schiff never did like crypto.  Bitcoin has changed his mind  ;D, now we need to change his mind on altcoins too   ;D Maybe he might just like HST decision token  ???

Now, he is seeing that bitcoin has real value in the market. And it just shows that even if he didn't shell out any money nor believe its existence, he's seeing the equivalent amount of his bitcoin holdings in $s right now. This is one good example that even if you are not bitcoin nor altcoin believer, cryptocurrencies will continue to exist and be traded in the market.

Well this is something everyone regrets :- not buying at the time when the price was low .
What he said is completely something that everyone thinks of time and again but at the same time I think it's not just worth 2000$ coins that he is holding , he would have already brought when he saw the profit increasing day by day .
Once we see how much we have gained it actually makes us kind of addicted to be honest and then we just want to earn more.
The fact that he is so open about it is a good thing since it is influencing a lot of people who actually follow him .

If he is saying the truth then yeah he is only saying that if you want to give him free money in that form then go ahead and do it! - He will happily accept it.

Maybe he is seriously secretly doing it, how can we know? - That part you points how about what he says is pretty much saying everything and i think that he is doing it. But what is the problem? Even better. More people for the boat.

Those who help improve it are a lot more valuable but everyone inside this movement is collaborating with his grain of sand towards the edification of everything.

here is how answer should be, from analyzer mind and this is how investors predict movements markets and not like the traders which is basically washed by scams like support and resistance and lines on graph movement, lines on graph cannot predict the out come future by any mean, every expert know this

20 years?Huh Hhhhhghhhg

Bro you need to work with sharp logic in anything in life and especially when you invest money,

I will try to be simple as possible .

We need go back to my explanation....

Let's say there is some demand for diamonds/bitcoins which determine the price per Bitcoin/diamonds ok,

Get it ....let's move on

If suddenly the selling rate of diamonds/bitcoins fall drastically because of few reason it will surge the price and will give the illusion that demand is was grew, and why it's give this illusion it's because price grow almost always by demand BUT here the selling rate of Bitcoin/diamonds just fell drastically and this is the reason why the price surge,

Now let's split the example...

Diamonds are only store of vaule most of the time and you cannot buy with them home,clothes,cars and so on you must to SELL them which hurt this industry...

Compare to bitcoins which act as store of value and money which mean compare to diamonds(don't get lost)

With Bitcoin you can buy directly and not SELL them like diamonds/gold which must be converted to cash, and when selling rate fall it surge the price per coin very simple, ...and startup like zeex from Israel and other which soon going to pop , another startup like this come from japan and it will help us to buy all the brands and almost anything with crypto which lead us to the first my explanation...

If the selling rate going fall drastically it will surge the price per coin and smart investors know all this shit, they know when he will surge by this sharp logic/factors(THE ANALYZER), remember diamonds/gold the selling rate will nevr will fall and only grow because its will never accepted as payment/cash and hence people need to sell them in order to buy cars,clothes,and other shit,,,,and when you sell you hurt the value but when you buy it dosent hurt the value and even surge the price.

So zeex already come and we will buy almost anything with  crypto. Soon you will see snowball effect it's around 1-3 years ...and you say 20 years???, Why and what without any deep understanding of economy.

Now let's move on....after we know one factor which surge the price per coin and market cap is fucked here when the selling rate fall and not cause because more demand comes but it give the illusion that demand grew but ironaclly it's just selling rate fall nothing more, and surge the price per coin.

Don't forget and don't get lost ....selling rate cannot fall in diamonds/gold because they pure store of value and stores,brands and so on don't accept it, it's mean you always must SELL in order get some kind money which accepted everywhere.

Let's go on...don't get lost....

So selling rate of crypto soon going to fall drastically from simple understanding that startups like zeex and other help us buy anything with crypto and when you BUY you don't hurt the price/value it's called exchange...

sum it in short:
1. must be low supply for this factors to work, because if the supply is to much big the demand will never be bigger then supply and will lose value over time.

2. when selling rate fall in bitcoin,diamonds, whatever its surge the price up, and give the illusion that demand grew but in reality nothing moved in demand its just people dont sell it, but with diamonds/gold it cannot happen because the selling rate will only grow and must converted to some other value(cash) that accepted in brands,cars,houses and so on...hence its hurt this industry...while bitcoin is act as store of value and cash,

3. after we know that when selling rate will fall and will surge the price of the bitcoin and other crypto with ONLY LOW SUPPLY, and give the illusion that demand grew yet ironically its just the selling rate fell and this is the reason why the price surge per coin, why it give illusion that demand grew its because the price almost always grew by demand but in this situation it grew because the selling rate fell drasticlly

4. now when the selling rate will fall drastically the demand didnt move yet think what will happen if the demand also will grew in the same time selling rate fall, its lead to astronomical number price per coin,,,,very logical and why??? sharp mind know to explain why and what the reason without hype and lies so everybody can understand this.

after all this

Then demand is going to bombard soon you know why?

I will not tell why it's so damn easy but after all what you read play with your logic make it more sharp and be analyzer....

I will give a hint

There is to much space for demand in other words 7-8% inside this game but it's not the reason why demand going to bombard soon,. IT'S JUST HINT...

Why it going to bombard figure out your self

Good luck

I did my best and in very simple way

LAST POINT : ask any math teacher he will say there are much more but much more less bitcoins then diamonds or gold and there is special equation to calculate this...which...you know what :))

This is funny. 
It is more like "if you can't beat them join them"  kind of thing
There are other similar critics who ended up "hoarding" lots Bitcoin lol. Now they have mouths  full of cryptocoins and  dont complain  too much or threaten fire and brimstone

I thought the picture was edited but after looking for different source, I can't imagine that this is for real. The heck the gold bull has been concluding some formula that he should have hold and wait for the bull.

Haha!

I think he's telling the truth that those were from gifts but if not then he's surely looking at it. After the criticism, he's now becoming one holder and believes that there's something big to explode that will make his $2k worth of bitcoin into bigger amount.

seems to be the idea that most 'big name' people are taking to these days. definitely nothing to do with the price of bitcoin. no not at all. but really tho, a lot of companies, financial  orgs, and namely, rich people are taking a lot of interest in bitcoin and cryptocurrencies nowadays.

more like bitcoin being stable at 10-11k usd changed his mind.

This is exactly what I think he's intending to do the moment I understand the post. And it does actually seem like he is mocking the media. Peter Schiff is a well-known stockbroker. I think he is well aware of what he's doing.
By the way, I don't think it's a tweet. I think it's a Facebook post.

That's the point. Schiff doesn't need to have Bitcoin just to buy that pretty driven fast car. All he needs to do is just to cash out on a little piece of his investments. Just because he has no interest in Cryptocurrency doesn't necessarily mean that he's stupid.

Schiff has always been the stocks guy, and would certainly do everything just to maintain this reputation and shill the hell out of what he currently holds. For anyone who would be handed out free money without conditions, of course they'd take it any day, and this is what Peter Schiff is doing. He neither confirm his direct involvement with bitcoin nor deny it simply because he gets something, and he'd be a hypocrite if he denies it. It's just that he's playing it safe by trying to not turn the tides and make his locely stock shares plummet in value.

He is missing out badly just because of his bias against Bitcoin. I think that's pretty stupid.

The thing here is that wealthy entities such as Shiff SHOULD hedge the rest of their portfolio by allocating 1-2% of it to Bitcoin. It allows you to tap into Bitcoin's massive upwards potential, but only risk a fraction of your portfolio would it go to zero, which isn't going to happen.

Someone being wealthy and "not needing" Bitcoin to boost their wealth further makes no sense. It's a solid hedge to preserve their wealth, which is what people like Schiff use Gold for, but it hasn't done much at all to reflect the confidence in this metal.

Peter is evolving just like many of us did in back in the day.

Tbh if I haven't collected any sig money from bitmixer back in the day maybe today I wouldn't be much different than Peter, the nocoiner.

I kept those small sig money back in the day and I witnessed how they multiplied its value over the years. Once was a pocket money to buy ice cream can now buy me a brand new tesla. Once I realized the potential, I bought lots of coins from my own pocket too.

Peter will like bitcoin.

I know it because I used to be like Peter.

I love this comment he made... He's obviously trolling the BTC community.

But the funny thing is that his $2k probably makes him a larger holder than most of the users on this forum  ::)