[2018-06-07] Bitcoin Hype ‘Has Barely Even Begun,’ Says Blockbid COO

[BitHodler]

draper's $10k prediction from 2014 was correct. i suspect his new prediction of $250k by 2022 will turn out correct as well.

In other words, you have massively bought at current levels? I don't see why anyone with even a remote believe in Bitcoin to reach the $250,000 mark wouldn't invest at least a large chunk of his fiat net worth in Bitcoin.

Tim Draper is a good guy, some times a bit annoyingly positive, but there is absolutely no harm to spot when you see him explain what Bitcoin is and what he think it is capable of in the coming years.

At least he is and remains pretty consistent with his predictions, where the Fundstrat boys constantly try to ride the latest flow of the market and based on that adjust their opinion and outlook. They are more shine hunters.

[XFlowZion]

Funny how the people making such outlandish predictions are the ones who stand to gain from a high-priced bitcoin. So far, they've all been wrong. But we'll forget their names after they are definitively wrong and a new batch of proclaimed "analysts" with titles like CEO, COO, etc, will jump into their place.

sapper (the Blockbid COO) didn't make any outlandish predictions. he just said cryptocurrency will become more mainstream over the next few years (i.e. it's not just a bubble).

anyway, gotta give these guys time before declaring them wrong. draper's $10k prediction from 2014 was correct. i suspect his new prediction of $250k by 2022 will turn out correct as well. we may not be at million dollar bitcoins (yet), but most of the early permabulls were all proven correct, in spirit if not with literal price predictions.

I also trust that Tim Draper guy. He is much more credible than Tom Lee on CNBC. The hype on bitcoin started on December and it ended very quicky so I don't know why he has to say those things. His statement is not helpful and will just leave an angry face on any reader.

[magneto]

I wouldn't necessarily say that "hype" is the best word to describe it, because to me, it's not hype that will get us anywhere. It's going to be adoption, especially by real life and online merchants that will drive bitcoin forward.

In that case, I would agree. Even though a lot of people are calling bitcoin dead or whatnot with the current bear market, I think that if you scope out you'll find that we're still in the early adopter phase. Awareness is growing regarding bitcoin, but not a lot of people are actually using it. The people who are actually using bitcoin are extremely limited.

Hype is just a byproduct of adoption and awareness, and with the institutional investors coming into the market recently, the next bull market could prove to be extremely large. But even then, that does not mean that bitcoin is successful or anything. We need to steer clear of thinking of bitcoin as some kind of money making scheme, but rather look at the properties that it has as a currency.

[Lucius]

draper's $10k prediction from 2014 was correct. i suspect his new prediction of $250k by 2022 will turn out correct as well.

In other words, you have massively bought at current levels? I don't see why anyone with even a remote believe in Bitcoin to reach the $250,000 mark wouldn't invest at least a large chunk of his fiat net worth in Bitcoin.

Tim Draper is a good guy, some times a bit annoyingly positive, but there is absolutely no harm to spot when you see him explain what Bitcoin is and what he think it is capable of in the coming years.

At least he is and remains pretty consistent with his predictions, where the Fundstrat boys constantly try to ride the latest flow of the market and based on that adjust their opinion and outlook. They are more shine hunters.

It is wrong to invest money just because prediction of one man, even if this is Tim Draper which is precisely predicted price for 2017 three years before. I also belive that his prediction is not unrealistic, it can happen or not. I agree he is one of the most positive person and the big advocates of BTC and blockchain technology, I wish we had more people like him.

Believe someone or not is nothing to do with our money, it would be wrong to invest all you have just in BTC and wait 2022. But to invest some % of money every month in BTC for me personally is clever decision. I see tremendous potential in this technology and I like how Tim Draper thinks - but at the end it is only my decision.

[Betwrong]

I wouldn't necessarily say that "hype" is the best word to describe it, because to me, it's not hype that will get us anywhere. It's going to be adoption, especially by real life and online merchants that will drive bitcoin forward.

Maybe "hype" isn't the right word for that, but Bitcoin needs more positive coverage, or promotion even, because many of the online merchants still think it's a fraud and that's why they drag their heels on using it.

In that case, I would agree. Even though a lot of people are calling bitcoin dead or whatnot with the current bear market, I think that if you scope out you'll find that we're still in the early adopter phase. Awareness is growing regarding bitcoin, but not a lot of people are actually using it. The people who are actually using bitcoin are extremely limited.

I absolutely agree with this. It's hard to believe but it's true that less than 0.5% of the world population is using Bitcoin now. According to Bitinfocharts there are 28 million bitcoin wallets that hold more than 0.001 BTC. Even if all those wallets belong to different people, we still have less than 0.5%. And, no, the number of Bitcoin users hasn't dropped lately, it's only growing. We are just still in the early phase.

[figmentofmyass]

draper's $10k prediction from 2014 was correct. i suspect his new prediction of $250k by 2022 will turn out correct as well.

In other words, you have massively bought at current levels? I don't see why anyone with even a remote believe in Bitcoin to reach the $250,000 mark wouldn't invest at least a large chunk of his fiat net worth in Bitcoin.

i'm heavily invested. but i invest based on my own analysis, not draper's. i've also been buying since early 2013, so i'm not crazy about buying here. if we do another leg down to $2000-$3000, i'll be buying more.

I also trust that Tim Draper guy. He is much more credible than Tom Lee on CNBC.

tom lee reminds me of a child in the backseat of the car, screaming "are we there yet?!" draper knows that patience is a virtue when it comes to markets.