[2018-04-30]News of Bitcoin (Prediction or Expectation) from ANTHONY CUTHBERTSON

[hurry_hore]

Hi all,

I just found an article written by ANTHONY CUTHBERTSON, a staff writter of Newsweek, https://twitter.com/ADCuthbertson, I am tingled to read his article of bitcoin as the tittle looks so bombastic. Here is the link of his article: https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-price-live-gold-value-cryptocurrency-sohn-soros-invest-pfeffer-a8323441.html.
The article tittle: "BITCOIN WILL REPLACE GOLD AND SOAR IN PRICE TO $700,000, SAYS MAJOR INVESTOR". I just read at a glance, but seems this like pump with great media coverage.
I often to think with this article like this whether a prediction or expectation as the words are really different....How do you think?

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[InvoKing]

I think that your topic fits better in the press section so kindly move it there (bottom of the page, left corner, move topic).
Ps. Don't forget to change the title accordingly to rules in the press sub.

[hurry_hore]

I think that your topic fits better in the press section so kindly move it there (bottom of the page, left corner, move topic).
Ps. Don't forget to change the title accordingly to rules in the press sub.

Ok thanks for your advice

[Snaic]

Hi all,

I just found an article written by ANTHONY CUTHBERTSON, a staff writter of Newsweek, https://twitter.com/ADCuthbertson, I am tingled to read his article of bitcoin as the tittle looks so bombastic. Here is the link of his article: https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-price-live-gold-value-cryptocurrency-sohn-soros-invest-pfeffer-a8323441.html.
The article tittle: "BITCOIN WILL REPLACE GOLD AND SOAR IN PRICE TO $700,000, SAYS MAJOR INVESTOR". I just read at a glance, but seems this like pump with great media coverage.
I often to think with this article like this whether a prediction or expectation as the words are really different....How do you think?

No matter how this article is evaluated, predicted or awaited by desirable events, it is unlikely that this will ever come to pass. Well, bitcoin can not replace gold. These are absolutely different things by nature. In the world there will be vseravno people who will buy gold. Bitcoin can be used for earnings, however, as a repository of value, it is rather risky and the degree of this risk will increase in proportion to the cost of bitcoin. I also very much doubt that one day bitcoin will reach a price of $ 700,000. This is shown by recent events since December last year. It will be especially unrealistic if bitcoin remains at the same technical and functional level.

[Kemarit]

Well if bitcoin soar around that ballpark of $700,000, then obviously, it has overtaken Gold by that time. However, to get to that price, it will take a lot of money to get in our ecosystem, the question where are we going to get it? But as far as I know bitcoin already overtaken Gold per ounce isn't it? But I'm not surprised by this kind of prediction because to be honest, we know that Bitcoin is the new Gold. Even today we can consider it a high value investment because the price is already at $9000. Besides I'm totally against comparing both of them, each has its distinct advantage, its up to us investors to make decisions as to where we are going to put our money with.

[imsotiredofmoviereboots]

It is merely a prediction. A pure and very wild prediction. Major investors should give realistic statements instead of stories like this because it makes bitcoin's image very ridiculous to other people.

[hurry_hore]

I personally think perhaps it is an expectations from a big investor, the intention perhaps just to express the desirable/expectation or may be to pump the price. If he is pumping the price, it is too ridiculous disregard he/she is big investors. I just don't understand the writer of global media, Anthony Cuthbertson, write "wild" prediction or an expectation like that. And surely to compare bitcoin with gold is not acceptable for crypto community, it will be better before write the article he do some research to the community and do an exercise.

[Lucius]

I personally think perhaps it is an expectations from a big investor, the intention perhaps just to express the desirable/expectation or may be to pump the price. If he is pumping the price, it is too ridiculous disregard he/she is big investors. I just don't understand the writer of global media, Anthony Cuthbertson, write "wild" prediction or an expectation like that. And surely to compare bitcoin with gold is not acceptable for crypto community, it will be better before write the article he do some research to the community and do an exercise.

There is a thread on this topic here.I do not know why are you surprised that some journalist
writes a story like this-most journalists actually live for such stories.He take some of John Pfeffer statements,then mentioned Soros and Bill Miller and he has very low quality article in my opinion.Pfeffer admits that chance that his prediction become true is only 1%,but it seems that's enough for journalistic sensations.

[Betwrong]

Those countries who have experienced a currency crash recently are full of potential Bitcoin users but unfortunately most people still have no idea about the possibility of investment in BTC. Many of them have heard of it but people tend to perceive negative news ignoring the good ones. Most people still think gold is the best investment although many of us, me included, are trying to elaborate that Bitcoin is better than gold for the last couple of years if not longer. This is very heartwarming that people like John Pfeffer endorse such a positive notion on Bitcoin future.

[1Referee]

Most people still think gold is the best investment although many of us, me included, are trying to elaborate that Bitcoin is better than gold for the last couple of years if not longer.

Most people buying Gold don't really do that with the intention of making profit, but just to avoid seeing the wealth they have been building up in their life become worth less rapidly. It's more a hedge than an actual investment. If people compare profitability fields of Gold and Bitcoin, or basically any other traditional asset, there is obviously nothing that comes even close to that what Bitcoin offers.

Eventually, Bitcoin might become that what Gold is today, so it's not that Bitcoin will always remain as profitable as it is right now. Current Bitcoin increases are nothing more than a reflection of how thin and new this market still is. Gold on the other hand is probably the most liquid market in the world, which grants very large parties the option to either buy billions worth of this precious metal, or unload billions worth of it, and that without the market going nuts.

[MoonJeina]

Bitcoin "might" be a  new Gold is an old thing . Bitcoin "already " is the new gold . So many people are investing in bitcoin and that is making it look like bitcoin will soon surpass gold in terms of everything . Gold and bitcoin cannot be compare because still there are many unaware people who would still care for investing in gold . Other than that , after some years there is a definite possibility that it might cross $700,000 . Thinking optimistic is not that bad though !

[hurry_hore]

Yeah there is similarity between bitcoin and gold at least for investment, even the price of bitcoin is very volatile compared to gold. I think it is ok if a journalist write bombastic news, but it will much better to analyze and discuss with related community to get more acceptable result to be written to. To reach bitcoin price reach 700K is still possible but need to provide how and how long as time prediction for better prediction in a whole.

[Betwrong]

Most people still think gold is the best investment although many of us, me included, are trying to elaborate that Bitcoin is better than gold for the last couple of years if not longer.

Most people buying Gold don't really do that with the intention of making profit, but just to avoid seeing the wealth they have been building up in their life become worth less rapidly. It's more a hedge than an actual investment. If people compare profitability fields of Gold and Bitcoin, or basically any other traditional asset, there is obviously nothing that comes even close to that what Bitcoin offers.

Eventually, Bitcoin might become that what Gold is today, so it's not that Bitcoin will always remain as profitable as it is right now. Current Bitcoin increases are nothing more than a reflection of how thin and new this market still is. Gold on the other hand is probably the most liquid market in the world, which grants very large parties the option to either buy billions worth of this precious metal, or unload billions worth of it, and that without the market going nuts.

But the price of gold isn't stable either. The Gold price chart doesn't look as crazy as that of cryptos, but still the gold price is volatile to an extent. It's just that it manifests itself in a longer period of time. For example, it was 290 USD/oz in January 2002, then it was 1,838 USD/oz in July 2011, and today it is 1,309 USD/oz. Those who invested in gold in July 2011 have lost over 25% of their investment. Just imagine how happy they would be now if they invested in Bitcoin in 2011. Just look at this quote from an article dated 18 October 2011:

The value of Bitcoins has dropped dramatically since June 2011 when they peaked at $33: now they are between $1 and $2.

[alex_gr_cc]

Most likely, gold will be replaced not by bitcoin, but by other cryptocurrencies, which are tied to gold. More precisely, they will not replace, but tokenize gold.
At the moment, the future of bitcoin questionable, because of its technical backwardness and lack of competent management in its environment.

[InvoKing]

Most likely, gold will be replaced not by bitcoin, but by other cryptocurrencies, which are tied to gold. More precisely, they will not replace, but tokenize gold.
At the moment, the future of bitcoin questionable, because of its technical backwardness and lack of competent management in its environment.

Well, this is your assumption, until now Bitcoin proves itself to be the best, the strongest, the most used, and the most fiable among all cryptocurrencies.
It is not about lack of competent management, they may take much time before implementing something new but it is a wise move to protect the actual environment.