That’s a “make me a hero” prediction. If it happens he’s the big hero. If it doesn’t happen no one will remember he said it. If they do remember he can just say it might take a little longer do to bla bla bla.
Also the ones saying that do so in an effort to scare people away but if that were to happen I will not be scared I will be doing everything I can to get as much money possible and invest before bitcoin goes up, it will be incredible to be able to buy bitcoin at 1k everyone that lost that opportunity could have another chance to make money with those prices.
Ok, and once you've scared people away, you know, that massive amount of new people who just got in, why are you so sure that they will come back to make your BTC rise again?
..or are you counting on whales to do that? Whales don't do that, they profit, they don't lose. If this market has been sucked dry, they will move to something else.
For BTC to reach the price you're hoping for, you need new people. So don't think "idiots are gonna be scared away, I will get rich buying BTC at 1k". Without those same idiots, your BTC will stay at 1k. And I'm pretty sure that if it does get back to 1k, it's gonna stay there for a couple of years before it goes for another ride.
..or it will be forgotten.
Because BTC has no real use other than being an investment, and potentially a money system. If it ends up being THE one, then it'll be massive. But people decide of that, you can't predict which currencies they are gonna choose. Just like gold, it has no real reason to have that value. Litecoin or whatever could end up being the chosen one, you don't know.
I would rather bet on crypto that have a use, or ICOs. There, if you make enough research, you can get an opinion on what is solid, what is likely to get used. And then the only (but still big) risk you take is a competitor taking over the one you have picked.
Well
it's the .com happening again. Not every coin will go back to nothing, some will pass through the bubble pop, it's a matter of picking them wisely. But Bitcoin? The only value of Bitcoin is its fame, and the fact that it's the grandfather of them all, the one that tells the value of all others. But things go fast these days, perhaps by picking Bitcoin you picked MySpace, and perhaps the Facebook is already there in the top 10, or it hasn't been created yet.
It has been challenged several times. While BCash is a too obvious scam, ETH is a more logical choice. I can well imagine a flippening to ETH, I wouldn't find that absurd. Even though ETH might be MySpace & NEO Facebook, who knows..
But by picking BTC you pick a form of gold in its infancy. If you picked right, it's gonna be big. If not, another one is gonna be big, and BTC will be forgotten. But the technology, come on.. It's great that it was the first, and it will be forever be in history books, but that has nothing to do with its value. It's not a currency, no crypto is ATM, and no crypto will be until stability (& that takes years).
That's why BTC doesn't even need a lightning network right now (other than to fight BCash, but it looks like BCash has already digged its own grave), because
one would be stupid to use it as a currency. To pay a pizza with a coin that is likely to be worth 10x as much in a near future, that doesn't make sense. Right now it's gold, and if you believe that people are attracted by this amazing technology of a decentralized coin, well you're wrong. People are there for money, and purely for that. Or XRP's wouldn't have reached the top.
Personally, I value the concept of decentralized crypto, I really do. But I think it may be any. BTC+lightning network? Why not. I think it's important to separate the (gold-like) value which the BTC has, and the quick payment system, the lightning network, even though I'm pretty sure people will eventually use a Paypal-like system, for the simple reason that people, those who don't fraud/don't hide their money that is, want insurance, want their money to have their name on it, and someone to speak to in case of problem. That doesn't need to be a bank, it can be a Paypal-like frontend, taking fees in-between.
But really it can be any coin, I don't see what technical advantage the BTC has, it may be too rooted in your mind that BTC will be the chosen one, that it will reach 500k, etc. But again, remember MySpace. I didn't have a MySpace, I don't have a Facebook, I don't give a shit about those things, but it's the perfect example of something big that gets replaced pretty quickly & then gets forgotten.
I'm also a programmer, and if I was to be asked to create the ideal crypto system,
I would naturally go for a system like IOTA's. It has been said many times that its code is poor and that it has serious flaws, that may well be true and I haven't checked the details. But I'm just saying, if I was to base my choice of technology, on full scalability, I'd go for a system like IOTA's,
where it's people making transactions who also verify transactions, not miners. And I'm pretty sure it's how the chosen coin will work - but perhaps not initially, because, again, I don't think that the technology matters. People don't care about the technology, they don't know what goes behind a bank transfer, they don't need nor want to know, their trust is entirely based on other people's trust. The trust in Bitcoin could have gone exponentially, last month. But it didn't. It's still at the top, but newcomers have no realized that there were plenty of other coins. The trust seems to have spread to a few top coins now. You may see ETH getting at the top next month, and ETH-based pairs for every ALT in every exchange. Or maybe not, who knows? It's entirely a game of prediction, but a prediction of where people's trust will go, whether it's directed by technology (I doubt it), profit-making (obviously), guru-following (certainly), or straight manipulation (seems to have worked for BCash..).
And I'm not dissing BTC, it's still the biggest part in my portfolio. And it's the coin that will forever be in history books, that's for sure.
I've just realized that the predicted mass adoption of crypto (I don't have much doubts about that) might not mean mass adoption of BTC. That required heavy word of mouth, and it has just happened, but it has happened so well that people are now aware that BTC isn't alone. BTC dominance is at its lowest. The top lists some technically good coins as well as some scams, proving that the world does not care.
It's all about trust, you can't predict anything.Amen to that. I've put in bold what I'm exactly thinking too.
