2013-04-03 Henry Blodget: I'm Raising My Bitcoin Price Target To $400

[n8rwJeTt8TrrLKPa55eU]

I lost all respect for Blodget in the 90s, but must admit this is a great article full of good insight.

http://www.businessinsider.com/im-raising-my-bitcoin-price-target-to-400-2013-4

The odds Bitcoin speculators are looking at are similar to the odds early Internet speculators were looking at:

The most you can lose is 100% of your bet.

The most you can make, meanwhile, is theoretically unlimited.

And in some circles, assuming only a limited amount of capital is wagered, those odds are what might be described as a "good bet."

[grondilu]

There is a fundamental value for bitcoin:  Silk Road.  For bitcoin is the only currency that can be used there.  

To me, Silk Road is to bitcoin what jewelry is to gold.

[cypherdoc]

There is a fundamental value for bitcoin:  Silk Road.  

its so much bigger than that.

There is a fundamental value for bitcoin: Freedom.

[cypherdoc]

that WAS a really good article.

amazing how Blodget recovered and made his comeback after all he went thru.

he genuinely seems like a nice guy.

[Piper67]

There is a fundamental value for bitcoin:  Silk Road.  

its so much bigger than that.

There is a fundamental value for bitcoin: Honesty Freedom.

FTFY

[cypherdoc]

There is a fundamental value for bitcoin:  Silk Road.  

its so much bigger than that.

There is a fundamental value for bitcoin: Honesty Freedom.

FTFY

in the sense that Honesty leads to Freedom, i'd concur with that.

[Piper67]

There is a fundamental value for bitcoin:  Silk Road.  

its so much bigger than that.

There is a fundamental value for bitcoin: Honesty Freedom.

FTFY

in the sense that Honesty leads to Freedom, i'd concur with that.

Hey, let's just agree to agree 

[pyra-proxy]

There is a fundamental value for bitcoin:  Silk Road.  

its so much bigger than that.

There is a fundamental value for bitcoin: Freedom.

+1 that, and what price do you put on Freedom?  To infinity and beyond :-)

[grondilu]

There is a fundamental value for bitcoin:  Silk Road.  

its so much bigger than that.

There is a fundamental value for bitcoin: Freedom.

+1 that, and what price do you put on Freedom?  To infinity and beyond :-)

It might sound nice and cool to say that bitcoin is backed by economic freedom, but it's more rhetoric than anything.  Let's be practical, shall we?

Also, gold was a mean for economic freedom much before bitcoin.  Alan Greenspan himself wrote it long ago: http://constitution.org/mon/greenspan_gold.htm

[sunnankar]

that WAS a really good article.

amazing how Blodget recovered and made his comeback after all he went thru.

he genuinely seems like a nice guy.

He is just the typical hack. The reason BI has been running so many Bitcoin articles is largely because Blodget like bought a bunch of bitcoins recently and/or the VCs who are funding his money losing operation have bought a bunch of bitcoins recently and want articles written to stimulate demand.

[shawshankinmate37927]

He's reading and responding to the readers' comments, so I tried to leave the following rhetort in the "Comments" section of the article, but it doesn't appear to be working, so I'm pasting it here:

"But Bitcoin does not generate any cash flows."

Likewise, the dollar doesn't generate any cash flows.  Why would I convert my bitcoins to dollars if dollars can't generate a cash flow?  Bitcoin is cash.  Would you rather your cash be of the debt-based fiat variety or one that can't be quantitatively eased, counterfeited, confiscated, redistributed, etc....

Later, I'll try to copy and paste it in the "Comments" section of the article.