Bitcoin will plummet to $10 by first half of 2014

[robhimself]

I was hoping it would at least dip to $200 or so, so that I could get in for $1000 for 5. It could still happen I guess in the near future, but $10? That won't happen for quite some time barring some crazy unforeseen event.

[Nxtblg]

I was hoping it would at least dip to $200 or so, so that I could get in for $1000 for 5. It could still happen I guess in the near future, but $10? That won't happen for quite some time barring some crazy unforeseen event.

I'm quite confident that it won't happen at all, barring some crazy event like the U.S. going back to the gold standard at $20 and lopping two zeroes off the greenback.

"Yay! Penny Candy is Back!!"

[giveBTCpls]

Well this was another waste of a thread..

Except for educational purposes. Had I not seen it, I never would have focussed in on the fact that "buy the fud, sell the acclaim" works like a durned dream.

It's the prefect thread, if only potentially, for a creative response.

Yup. It's good to keep all these old threads about wrong predictions and all these threads about how Bitcoin would never be 10$ during our lifetimes to keep things in perspective and not repeat past mistakes.

[Nxtblg]

Yup. It's good to keep all these old threads about wrong predictions and all these threads about how Bitcoin would never be 10$ during our lifetimes to keep things in perspective and not repeat past mistakes.

And the recent ones, not to mention the ones to come, are also good real-time training in the fine art of "be greedy when others are fearful, and fearful when others are greedy" - Warren Buffett.

Not to mention....it's good training in the delicate art of "be greedy when you're fearful, and fearful when you're greedy."

[jubalix]

Yup. It's good to keep all these old threads about wrong predictions and all these threads about how Bitcoin would never be 10$ during our lifetimes to keep things in perspective and not repeat past mistakes.

And the recent ones, not to mention the ones to come, are also good real-time training in the fine art of "be greedy when others are fearful, and fearful when others are greedy" - Warren Buffett.

Not to mention....it's good training in the delicate art of "be greedy when you're fearful, and fearful when you're greedy."

warren buffet knows jack about making money. He is just an outlier of luck as others and there are many others who have lost.

in any case warrent buffet, nor any one esle investing in shares, stock etc has ever "made" any money, the just swap shares for existng money in supply which is largely issued by loans via banks.

Banks make money.

Bitcoin makes money. It says here is a better ledger.

Share/Stocks/Bond people have no idea about BTC tech/money supply. Central banks do as they can see its directly competing with their position

[JorgeStolfi]

warren buffet knows jack about making money. He is just an outlier of luck as others and there are many others who have lost.
in any case warrent buffet, nor any one esle investing in shares, stock etc has ever "made" any money, the just swap shares for existng money in supply which is largely issued by loans via banks.

You should check his bio in Wikipedia first...

He made his fortune buying a company that was in bad shape and managed it for several years until it became profitable again.

[Adrian-x]

warren buffet knows jack about making money. He is just an outlier of luck as others and there are many others who have lost.
in any case warrent buffet, nor any one esle investing in shares, stock etc has ever "made" any money, the just swap shares for existng money in supply which is largely issued by loans via banks.

You should check his bio in Wikipedia first...

He made his fortune buying a company that was in bad shape and managed it for several years until it became profitable again.

you cant believe everything people write in the decentralized Wikipedia. not to defend the claim Warren knows Jack about making money he evidently does know a lot about making Fiat.

but Warren Buffett is realistic, he attributes a large portion of his success to the fact that the stock market presented an opportunity for growth in the mid forty's had he been older or younger it would be different.  

“I was born in 1930. ... I was born in the United States. … I was born white. … I was born male. … I had all kinds of luck.”

But don't get me wrong, Warren Buffett is clueless if he thinks the system is working. http://youtu.be/umg3ue6BFEY?t=22s 6 x growth in per capita GDP when the value of unit of measure has lost 7 x of its value, this is evidences of wealth degradation, not growth.

and that doesn't even count for the resulting wealth inequality in the redistribution to the 1%.  

[Mobius]

warren buffet knows jack about making money. He is just an outlier of luck as others and there are many others who have lost.
in any case warrent buffet, nor any one esle investing in shares, stock etc has ever "made" any money, the just swap shares for existng money in supply which is largely issued by loans via banks.

Buffett is one of the most successful investors ever. He has missed several opportunities in investments that would have been profitable but he did not invest because he does not understand their product.

[cbeast]

warren buffet knows jack about making money. He is just an outlier of luck as others and there are many others who have lost.
in any case warrent buffet, nor any one esle investing in shares, stock etc has ever "made" any money, the just swap shares for existng money in supply which is largely issued by loans via banks.

Buffett is one of the most successful investors ever. He has missed several opportunities in investments that would have been profitable but he did not invest because he does not understand their product.

We can't know that for sure because at least in the early days he didn't reveal his investments publicly. Nobody can know if he invested in anything. Just saying.

[Nxtblg]

Hunh...I didn't know that me quoting a homely but wise investment saw from Warren Buffet would turn the thread in this direction. Maybe I should've quoted Benjamin Graham...

[Ayers]

Im glad that guy was wrong lol. I don't think it could survive such a big knock.

how can such stupd prediction be right by any mean? even 100 dollar would have been super stupid let alone $10

But the thing about predictions is that almost always, someone is right, at some point.  The price will drop, the price will rise, the stock market will have a 10% correction.  If I keep a log of predictions, at some point I'll be right about 1 of them, maybe even 2 or 3 of them.  Then I'll be the "expert" since I "predicted" the bitcoin drop, rise, etc.

well yes, but HOW MUCH it rise or drop is another thing to predict, predicting just if it rise or drop is much easy

[JorgeStolfi]

Hunh...I didn't know that me quoting a homely but wise investment saw from Warren Buffet would turn the thread in this direction. Maybe I should've quoted Benjamin Graham...

Or quote instead something from Jimmy Buffett... 

[Nxtblg]

Hunh...I didn't know that me quoting a homely but wise investment saw from Warren Buffet would turn the thread in this direction. Maybe I should've quoted Benjamin Graham...

Or quote instead something from Jimmy Buffett... 

Or something from Benjamin Franklin.

...followed by a chaser from Patrick Henry...

[botany]

well yes, but HOW MUCH it rise or drop is another thing to predict, predicting just if it rise or drop is much easy

Not really, some people get the direction wrong (and in a big way). 

[tee-rex]

warren buffet knows jack about making money. He is just an outlier of luck as others and there are many others who have lost.
in any case warrent buffet, nor any one esle investing in shares, stock etc has ever "made" any money, the just swap shares for existng money in supply which is largely issued by loans via banks.

Buffett is one of the most successful investors ever. He has missed several opportunities in investments that would have been profitable but he did not invest because he does not understand their product.

Has Buffett invested in Bitcoin? Just curious.

[dropt]

Has Buffett invested in Bitcoin? Just curious.

No, and he advised against it.  He doesn't invest in tech and/or commodities IIRC.

[polynesia]

Has Buffett invested in Bitcoin? Just curious.

He called it a 'mirage'. Can't use stronger words than that.

http://www.cnbc.com/id/101494937

[Nxtblg]

Has Buffett invested in Bitcoin? Just curious.

No, and he advised against it.  He doesn't invest in tech and/or commodities IIRC.

Oh, that explains why he's a name that pushes some hot buttons around here.

Myself, I don't see why. I know he's outspoken and at time abrasive, but with respect to plain investment, he's an old dog who will not learn new tricks. As for him taking BRK to a whole 'nother level of what could be politely called "insider capitalism," that trick was an old one in the time of Henry Clay.

[Swordsoffreedom]

Has Buffett invested in Bitcoin? Just curious.

No, and he advised against it.  He doesn't invest in tech and/or commodities IIRC.

Oh, that explains why he's a name that pushes some hot buttons around here.

Myself, I don't see why. I know he's outspoken and at time abrasive, but with respect to plain investment, he's an old dog who will not learn new tricks. As for him taking BRK to a whole 'nother level of what could be politely called "insider capitalism," that trick was an old one in the time of Henry Clay.

Well buffet is not a technologist so its not really his fault
(Said it on multiple occasions)
Besides he has his train business and other industries that he built his fortune from so for him Bitcoin is just something that he doesn't need to bother with he already has all the money he needs
So while he is dated that old dog made his fortune long ago.

[tee-rex]

Has Buffett invested in Bitcoin? Just curious.

No, and he advised against it.  He doesn't invest in tech and/or commodities IIRC.

Oh, that explains why he's a name that pushes some hot buttons around here.

Myself, I don't see why. I know he's outspoken and at time abrasive, but with respect to plain investment, he's an old dog who will not learn new tricks. As for him taking BRK to a whole 'nother level of what could be politely called "insider capitalism," that trick was an old one in the time of Henry Clay.

Well buffet is not a technologist so its not really his fault
(Said it on multiple occasions)
Besides he has his train business and other industries that he built his fortune from so for him Bitcoin is just something that he doesn't need to bother with he already has all the money he needs
So while he is dated that old dog made his fortune long ago.

But what if he decides to live forever, and Bitcoin takes up after all?