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Author Topic: Bitcoin Price Will Soar over Next Three Years: Circle CEO Jeremy Allaire  (Read 414 times)
cybersofts (OP)
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December 15, 2018, 09:03:34 PM
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The bitcoin price will rocket over the next three years, and cryptocurrency valuations will spike accordingly, says Jeremy Allaire, the co-founder and CEO of Circle, a peer-to-peer payments technology company backed by Goldman Sachs.

While Allaire was reticent to set a specific bitcoin price target, he predicts that its value will unquestionably be a lot higher in three years than it is now.

“I don’t make significant price predictions,” Allaire told CNBC on Dec. 14 (video below). “But it’s certainly going to be worth a great deal more than it’s worth today. I am long in the market.”

When asked what will bring people who lost money in the current bear market back to the table, Allaire said it’s because the fundamentals of cryptocurrencies haven’t changed simply because their prices cratered.


Bitcoin a ‘Scarce, Non-Sovereign Store of Value’
Regardless of its daily price, Allaire said bitcoin has a “very significant role” to play as a non-sovereign store of value.

“The key thing with bitcoin is that it is unique in its security and its scale,” Allaire explained. “As an idea that we need a scarce, non-sovereign store of value that individuals can hold in a protected fashion — that’s attractive all around the world.”

     - YouTube | https://youtu.be/kpdPJ-zwnyU

While naysayers have gleefully proclaimed the death of bitcoin, Allaire said it would survive over the long haul, and so will other cryptocurrencies.

Allaire said some virtual currencies would die off in an overcrowded market due to competitive forces, but it’s not a zero-sum game where the success of one digital currency means the death of all the others.


Reference: https://www.ccn.com/bitcoin-price-will-soar-over-next-three-years-circle-ceo-jeremy-allaire/
butka
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December 15, 2018, 09:26:05 PM
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Everything this guy said is very sound. Regardless of the current short term difficulties, this guy correctly identifies the main strength of bitcoin as a form of non-sovereign money. This, coming from a Goldman Sachs backed company, means something. For one, it means that they are taking bitcoin seriously, as they should. Maybe, publicly, these big banks won't say much, but behind the scene they are following the development and privately prepare the ground to jump on board (if they haven't already).
WinslowIII
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December 15, 2018, 11:33:15 PM
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Why did the op post a huge picture of real life Homer Simpson? just wtf was the purpose of that? just text is all we need.
cybersofts (OP)
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December 16, 2018, 12:02:29 AM
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Why did the op post a huge picture of real life Homer Simpson? just wtf was the purpose of that? just text is all we need.
A picture is worth a thousand words, dude! If you don't like it scroll down or close your eyes... I like it that way!
WinslowIII
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December 16, 2018, 12:07:03 AM
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Why did the op post a huge picture of real life Homer Simpson? just wtf was the purpose of that? just text is all we need.
A picture is worth a thousand words, dude! If you don't like it close your eyes... I like it that way!

I bet you do - you probably think he has a real purty mouth....
cybersofts (OP)
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December 16, 2018, 12:14:20 AM
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Why did the op post a huge picture of real life Homer Simpson? just wtf was the purpose of that? just text is all we need.
A picture is worth a thousand words, dude! If you don't like it close your eyes... I like it that way!
I bet you do - you probably think he has a real purty mouth....

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December 16, 2018, 12:18:37 AM
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I bet you do - you probably think he has a real purty mouth....

What odd things people here fixate on.

I wonder what their feelings are about shutting down Circle's retail operation before it had a chance to make any money.

Their primary focus is on 'tokenising everything' which won't have much to do with BTC. It's still a bit more positive than statements he's made in the past.
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December 18, 2018, 01:13:35 PM
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This guy is right,the FED priniting machine will pump the bitcoin price big time for sure.
Gold is a non-sovereign store of value as well,but bitcoin is going to beat it...
He's right about the death of most altcoins.We don't need them and they just stop BTC's papid growth.

1Referee
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December 18, 2018, 02:30:02 PM
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This guy is right,the FED priniting machine will pump the bitcoin price big time for sure.
Not sure if that's something to look forward to. In most cases capital shifts from asset to asset, and if Bitcoin isn't differentiating itself enough, it will implode just as hard as stocks and other assets will implode when they're no longer seen as a worthy option. Use is the most important aspect for Bitcoin, because use as money is eventually what will make sure that Bitcoins circulate instead of float around in the speculative market.

He's right about the death of most altcoins.We don't need them and they just stop BTC's papid growth.
Altcoins unfortunately come and go. By the time we finally see the current generation altcoins be 'exterminated', there is a newer generation altcoins taking over their place. The almost decade worth of history we have in the market has proven exactly that.
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December 18, 2018, 02:51:29 PM
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why doesn't he make a significant price prediction? while many experts say if the price of bitcoin will be very high in the next few years. he also has to determine how high the price of bitcoin is in the next three years.

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December 18, 2018, 03:45:19 PM
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why doesn't he make a significant price prediction? while many experts say if the price of bitcoin will be very high in the next few years. he also has to determine how high the price of bitcoin is in the next three years.

Who gives a shit about price predictions? They're meaningless as this year has ably proven. What does one geezer's pure guess achieve?
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December 18, 2018, 04:51:28 PM
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This guy is right,the FED priniting machine will pump the bitcoin price big time for sure.
Gold is a non-sovereign store of value as well,but bitcoin is going to beat it...
He's right about the death of most altcoins.We don't need them and they just stop BTC's papid growth.

I've just had an interesting thought. It can be quickly rebuffed because it's not entirely true but people often talk about how fiat being printed leads to inflation and the value of that currency declining, or in other words prices increasing. If BTC/Fiat price inflated by just as much as consumer goods/fiat then assuming people don't want to hold fiat and are actually just using it as a vehicle to consumer goods, then they'd be no better off than before.

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December 18, 2018, 07:08:15 PM
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This guy is right,the FED priniting machine will pump the bitcoin price big time for sure.
Not sure if that's something to look forward to. In most cases capital shifts from asset to asset, and if Bitcoin isn't differentiating itself enough, it will implode just as hard as stocks and other assets will implode when they're no longer seen as a worthy option. Use is the most important aspect for Bitcoin, because use as money is eventually what will make sure that Bitcoins circulate instead of float around in the speculative market.

i don't follow. bitcoin is already completely distinct as an asset, offering use cases never seen before and with growing adoption and network liquidity. if QE keeps pumping the markets (including bitcoin), that doesn't mean it loses its use as money. most of the supply isn't active in the speculative market anyway.

the hoarding aspect can't be avoided because of bitcoin's supply characteristics relative to other markets (per gresham's law). i don't think it matters though. no matter how speculative the market gets, there seems to be very healthy (growing) network activity. also as time passes, there will be increasing use of bearer instruments where no blockchain movement is necessary to transfer value.

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December 18, 2018, 07:24:50 PM
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This guy is right,the FED priniting machine will pump the bitcoin price big time for sure.
Not sure if that's something to look forward to. In most cases capital shifts from asset to asset, and if Bitcoin isn't differentiating itself enough, it will implode just as hard as stocks and other assets will implode when they're no longer seen as a worthy option. Use is the most important aspect for Bitcoin, because use as money is eventually what will make sure that Bitcoins circulate instead of float around in the speculative market.

i don't follow. bitcoin is already completely distinct as an asset, offering use cases never seen before and with growing adoption and network liquidity. if QE keeps pumping the markets (including bitcoin), that doesn't mean it loses its use as money. most of the supply isn't active in the speculative market anyway.

the hoarding aspect can't be avoided because of bitcoin's supply characteristics relative to other markets (per gresham's law). i don't think it matters though. no matter how speculative the market gets, there seems to be very healthy (growing) network activity. also as time passes, there will be increasing use of bearer instruments where no blockchain movement is necessary to transfer value.

I'll agree with you on that. Bitcoin is nothing like anything the world has ever seen, it's so enigmatic the governments don't even have the foggiest idea of how to classify it, and long time pros like Buffet's calls turn out completely wrong. To say it doesn't differentiate itself among other assets is really a laughable statement.
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December 22, 2018, 07:47:12 AM
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that is kind of an obvious statement to make in my opinion.
you may not know where the bottom is or when this manipulation is going to be over. or you may not have known when the rise last year was going to end and when the ATH due to FOMO buys were going to be. but with bitcoin, one this is always certain. and that is the fact that it will continue to rise until it reaches mass adoption. and looking back at the 10 year history you can see that bitcoin is staring to form up repetitive cycles. and as much as I hate saying it but it seems like history is going to keep on repeating itself.

what that means is that we will see 2-3 years of rise with a final huge rise and huge bubble which bursts and the market enters a prolonged bear mode before it starts rising back up again.

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December 22, 2018, 04:08:23 PM
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I don't doubt bitcoin soaring in the next three years but it is also not a given thing. Looking at the price right now assuming the price will be much higher in 2022 is really not a big estimate and would be totally reasonable.

Circle is a company that both owns the exchange poloniex which was one of the biggest at its time and still one of the most known ones but also Circle is owned by I think JP Morgan or some other big wall street company which tells me there is a slight chance maybe CEO Jeremy Allaire knows something we don't know about wall street and investing into bitcoin.

Maybe he thinks the moment SEC decides to let go of the undecided approach and allows wall street to put their money into bitcoin, there would be a lot of investments made which could potentially increase the price by a whole lot.
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December 22, 2018, 09:59:04 PM
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what that means is that we will see 2-3 years of rise with a final huge rise and huge bubble which bursts and the market enters a prolonged bear mode before it starts rising back up again.
The interesting thing about the current market is that people refer to it as being a bear market, me too, while it technically is a continuation of long term growth based on actual demand rather than hype and fomo.

It may be difficult to swallow for those who entered last year, but a quick glimpse into the charts would show you how insanely overbought the price was during the whole year of 2017 and even a large part of 2018.

If we see institutions enter in the coming few years I strongly hope that they will bring in some liquidity to not let it tank as hard as it went up. Aside from traders enjoying bumpy rides, it sucks for the who are here for utility.

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December 29, 2018, 05:59:23 AM
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I believe if the price of bitcoin and crypto in the next 3 years will be better and I think it will exceed prices at the end of 2017 and this is exciting for all users, many of the opponents are laughing right now but that is not something that bothers me

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December 29, 2018, 10:15:35 AM
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To me this man is highly intelligent and he put out more reason to me why those that thinks that cryptocurrencies market is dead to make a rethink.  If all things been equal then we should expect more investors to come into the market especially the institutionalized one.  It also means now is the right time for us to invest into the market but on those projects we believe can survive.
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December 29, 2018, 04:15:32 PM
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To me this man is highly intelligent and he put out more reason to me why those that thinks that cryptocurrencies market is dead to make a rethink.
If you notice in the past also, many industrialist who are all doing bitcoin based businesses coming forward to enlighten people whenever people are losing their confident about bitcoin and its system. Also medias are giving more coverage to such people for whatever reason but that is directly or indirectly working good for bitcoin promotions to new investors. Time to time we need some stir up like this.

If all things been equal then we should expect more investors to come into the market especially the institutionalized one.  It also means now is the right time for us to invest into the market but on those projects we believe can survive.
It is right time for investing but not into other projects but only into bitcoins. I never consider any other coins or projects for investing after seeing this much downfall. Because, there will be no assurance all the projects and their coins will get chances to recover from the current state. But, bitcoin has all the possibilities without any doubts.
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