[2017-08-10] Bitcoin Gets Technology Theory Backing, Can Reach $100,000 by 2021

[tyz]

Bitcoin Gets Technology Theory Backing, Can Reach $100,000 by 2021

“Moore’s Law” has been identified by a Harvard Scientist in Bitcoin, and as such the belief is that the digital currency can reach $100,000 by February 2021, according to this theorem.

With Bitcoin reaching a big milestone in its scaling debate, an issue that has dogged the digital currency for some time, it is now once again breaking records with little slowing it down.

Fear and speculation ran rampant leading up to the August 1 hard fork, which saw the creation of a new digital currency called Bitcoin Cash – a fork of the original Bitcoin. However, even since its creation, and rise to third-largest digital currency for a while in regards to market cap, it has not slowed Bitcoin’s growth.

http://bitcoinist.com/bitcoin-gets-technology-theory-backing-can-reach-100000-by-2021/

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[odolvlobo]

It's not very convincing. Thereis no reason why the price of a technology would follow Moore's Law.

[Xavofat]

It's not very convincing. Thereis no reason why the price of a technology would follow Moore's Law.

If anything, the price tends to move backwards because of Moore's Law with PCs - newer computers get developed with better specs, so the price of the older ones declines.

BTC could have some relation to it, because as PCs develop (and bandwidth gets cheaper) it becomes easier for people to run nodes on home computers, so the block size can increase, meaning that more people can use it.  But it certainly wouldn't cause the adoption to double along with transistors per square inch, and the price right now is too high already.

[Slow death]

Interesting, already had someone who said that the price would be $3500 by the end of the year, that one hit.

There are others who said that by the end of the year we will have $5000, I am still waiting to see this happen, at least this one has a chance to hit.

In the long term there is one that said that in 3 years the price will be $500,000 per bitcoin, even made promise to give more weight in its price forecast.

When I thought that nobody else would make a forecast of more than $5000 per bitcoin, here I see someone now saying that it is possible in 4 years the price will be $100,000.

I would even accept it if they told me $15,000 to $40,000 because I believe that many countries will accept bitcoin, but $100,000 in 4 or less than 4 years would be an exaggeration, I think.

[cr1776]

It's not very convincing. Thereis no reason why the price of a technology would follow Moore's Law.

Yeah.  If anything Metcalfe's law would be more appropriate here.

[BitHodler]

I would even accept it if they told me $15,000 to $40,000 because I believe that many countries will accept bitcoin, but $100,000 in 4 or less than 4 years would be an exaggeration, I think.

Many countries to accept Bitcoin? I think you should look up the difference between countries accepting Bitcoin, and countries legalizing Bitcoin usage ~ these are two very different things.

There is really no way I can see whatever country to accept Bitcoin at a certain point. If they ever happen to stimulate digital currencies, they will develop their own centralized version of Bitcoin.

Governments aren't interested in handing over people the financial freedom they are so badly looking for. They want to remain the central authority in each and every aspect, and that's obviously not possible with Bitcoin.

[CryptoBry]

I also happen to read this article where a certain professor is talking about the basis why Bitcoin can go as high as $100K within some years from now and yes he called it as Moore's Law. It is convincing enough especially for people like us who are holding some Bitcoin...the effect is that the more we would be holding our Bitcoin. Whether this law can be true or not, it now depends on what time would eventually revel to us. But I would be one of the happiest people if this Moore's Law can truly make Bitcoin so high though it can make some people sad because Bitcoin would then be prohibitive to acquire.

[fisheater]

I will love that. In 4 years, lol, if this is true, I will then quit the job and travel around the world