Why Bitcoin will go up - 2 guys invested ALL IN published in 2011, they right

[mskryxz]

http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/
http://falkvinge.net/2011/05/29/why-im-putting-all-my-savings-into-bitcoin/

2 Different articles, 2 different people, both published in 2011.

They both went all in and took up loans/credits/ and maxed out their savings into bitcoin.

Further more, they predicted that it would rise another 1000x fold which they predicted correctly.

The reasons for them investing is still the same reasons to invest today. nothing has changed.

thoughts?

[mskryxz]

from the article if you're too lazy to click

"So why am I so certain that the value will continue to grow? So certain that I bet all of my own money on it?
The supply of bitcoin is limited, and on a timescale of years, it is fairly constant. Nobody will issue more bitcoin to meet demand. This means that as more people exchange national currencies for bitcoin, the value of one bitcoin rises."

[N12]

I remember both. Astrohacker did admit he was wrong about the singularity later on.

Thus, in another 2.5 years, there will be somewhere between 10^8 and 10^10 users. Since there aren’t even 1010 people on the planet, we may estimate that adoption will be ubiquitous in approximately three years.

Almost as precious as reptilia's 300k USD/BTC for 2013.

[smoothie]

Didn't the second guy end up selling his all in position in the summer of 2011 after the crash? I sure remember that.

[Dafar]

Lol so much for the "invest what your willing to lose" advice lol. Good for these guys, they were real early adopters, took a huge risk and they made bank. However as positive this article is some lines worry me:

Thus, in another 2.5 years, there will be somewhere between 108 and 1010 users. Since there aren’t even 1010 people on the planet, we may estimate that adoption will be ubiquitous in approximately three years.

So if he said this in 2011 it means we have already missed the exponential growth?

The use case is undeniably compelling. But 60 billion USD that enters the bitcoin system in the coming years means that the value of a bitcoin will increase another thousandfold: the value of the system in total as of today is about 50 million USD.

It's already increased more than 1000 fold since then, but we're still not at 60 billion market cap. Either way i want to know what they are saying about bitcoin NOW? Are they still even holding their coins? We know early adopters banked, but what about poor old us?!

[Luckybit]

I remember both. Astrohacker did admit he was wrong about the singularity later on.

Thus, in another 2.5 years, there will be somewhere between 10^8 and 10^10 users. Since there aren’t even 1010 people on the planet, we may estimate that adoption will be ubiquitous in approximately three years.

Almost as precious as reptilia's 300k USD/BTC for 2013.

300k USD/BTC is possible for 2014 though.

[kkaspar]

I see cheering for bitcoin to get new people to buy after they themselves bought It's not exactly new that hodlers tend to do that...