No single source of information should ever be taken as the only basis of knowledge. What you just said is only a step away from a typical ad hominem attack. Let me guess, if the guy would have been always right in his predictions, you would simply say "past performance does not guarantee future results" and think you have nailed the debate. For that reason it is quite useless to have an argument here, since your mind will always find a way to defend its beliefs.

You don't seem to know who the honey badger is.

It makes me laugh again and again when reading that so many people actually think that it would take 5-10 years for BTC to reach 5k. Where have you lived? Under a rock? That's like a typical sheeple opinion that makes the delusional assumption that our current financial system is able to continue on its current course for the next 5 years without doubt. Don't you know anything?

Benjamin Fulford: Feb 22, 2016: Did a Chinese banker just announce the biggest event in human history

The delusion amongst sheeple is simply unbelievable.

Yeah right, really legit argument, NOT. You think they didn't say the same thing back then? Read the OP. Bitcoin is not even 1% of gold's market cap. 1% price change of gold is a piece of cake. Gold has risen 20% with the past 2 months.

No chance? Are you kidding me? Don't you know anything about bitcoin? It went from 10 to 270 in 2013. And idiots like you sold at 20$ and regretted for their entire life. A 27x rise is nothing new to bitcoin and it happens all of sudden, without any warning.

I have bet 0.17 BTC on the option that Bitcoin will set a new all time this year:
https://www.betmoose.com/bet/new-bitcoin-all-time-high-within-1-year-1291

When will people realize that 12x jumps come out of nowhere and only after they have happened smartasses start saying "it happened because of this or that"?

But this year is special, it will be a year of an economic collapse comparable to 1929.


Is it really far fetched for bitcoin to rise 12x during such time? Come on, think of the price during the Cyprus crisis during the first half of 2013. Or better yet, remind yourself what happened in summer 2015 during the Greece banking crisis --- the price rose from 225$ to 310$ (a 40% increase just because of one country having problems). Now extrapolate it to the whole world and you'll get x100 of what happened in last July.

We see 12x altcoin pumps all the time. In comparison to conventional assets bitcoin is like an altcoin. So 12x pump in BTC driven by the conventional investors would be chicken shit.

Exactly, mr. bears here have forgotten that in 2016 BTC mining reward halves down to 12.5 BTC per block! If you're not exactly into 5k bitcoins then at least stop pretending and admit that 800$ bitcoins are soon part of the everyday reality.

 

I made you see the light.


It would be too early under the assumption that the global financial system continues to exist the way it has existed before. However, this year it will all change and because of that, bitcoin has a chance to hit record highs.

Also, let's be honest, it's just so much easier to buy and store bitcoins than physical gold. Sooner or later it will reflect in the price of BTC.

Yes, $20k still holds but that's the bubble territory. 5k is more like a longer term prices everyone gets used to similarly to how we are currently used to 300-500 range.


Ok sorry, I initially misunderstood your message in that case.

What does it really matter? It only matters that 0.00004$ currency is nothing new on the face of Earth. No one ever said that it has to be a current situation, come on. You're hurtful.

You must be kidding me. Seriously? That's your reply?

"There is NO real evidence that we will reach $5000 anytime soon"  

"not really backed by real life events and paradigms"

You have to learn what the speculation subforum is in its essence, young padawan.

We have seen the surge in the gold's market cap lately. This is just the beginning, the first cracks in the current financial paradigm. The problem with gold is that it is physical and thus poses a psychological problem to mainstream investors when it becomes scarce due to extreme demand. The investors will see that they could physically only acquire a miserable and pathetic looking amount of gold (as it has become "too expensive") so they will run into silver. But silver too, has the same intrinsic problem.

So far, bitcoin's deception has lied in the fact that we are presented the idea that one bitcoin is divisible up to 8 decimal places which gives the false image of a bitcoin being a floating point number. In reality block rewards are represented by unsigned integers. Thus instead of 1 bitcoin one has 100 000 000 satoshis. To break the psychological barrier of 1 bitcoin costing too much we should just switch to satoshis. The latter will be plausible when BTC rises in value.

The market cap of gold is $7,252,708,420,909.
The market cap of bitcoin is $ 6,549,170,380 (0.082% of gold's).

I can say that gold is already psychologically too expensive for an average Joe on the street. Imagine when it grows 5x as it has done previously during financial collapses. Owning a gram of gold doesn't make you feel good about it, it feels sad as it is just a tiny speck. So, naturally, other stores of value will gain popularity. If bitcoin was only 1% of gold's market cap, it would already cost more than 5000$ per BTC. If 1 bitcoin costed 5k, then 1 satoshi would be 0.00005$. The world's least valuable currency Iranian Rial trades at 0.00004$ . So after 5k $ bitcoins it would be nothing new to this world to have satoshis for the main units to represent the value of your bitcoins. The world has already seen such a situation in Iran.

Daily recommended minimum amount of money for food per person is 10.72 $. With 5000$ BTC, a daily meal would then cost 214400 satoshis. Let's be honest, 200 000 is not that big of a number any more to be uncomfortable to use in daily basis. This is also the reason why poor countries could adopt bitcoin more easily. They are already used to making transactions of such order of magnitude in their currency units.

I'd like to see some trustworthy technical review of ethereum's source code, its weaknesses and strengths.

It looks like a correction until it has become obvious that it crashed. Wishful thinking, and of course the expectation bias can go both ways. I may be a victim of it, or you, or both of us

And the bubble has popped, just as I expected. 

It will probably fall as low as 0.004 BTC per ETH. That's when it's safe to start buying in. I took some time to technically look more into ethereum and I got sort of interested. While ether ETH itself is intrinsically quite worthless, their platform is indeed promising and as soon as it gets usable enough for business level applications there will be ethereum clones all over the place. During that time we can probably see a couple of more ETH pumps which is why it is good to buy in after the current bubble has deflated. But who knows when the next pump happens, so I would only convert a small percentage of my BTC into ETH.

Those 10k BTC sitting in polo buy walls for ETH are begging to be hacked and stolen.

Yes, I'm now changing my stance on ETH since I just received new information about the situation. I am no longer expecting a cold hard crash but more or less stabilization at higher prices than seen previously. This pump was meant to bring ETH to the 2nd place in CMC. I know it because I foresaw it but decided not to react upon it. But when I saw an article about ETH being on the 2nd place now I knew that my gut feeling was right and this is in fact a pump for the CMC rating rather than a typical pump and dump. It is more of a marketing stunt. But since the market is already in ecstasy, I'm not buying any ETH until the situation has stabilized at whatever prices. If ETH is going to rule the world then this won't be the last surge in its prices anyway, so I can afford to miss it this time.