Arthur Hayes predicts bitcoin rise to $50,000 and the end of cash

[Distinctin]

LOL, I'd agree with the prediction, but the end of cash, no way.
He was smart to make a fortune on bitcoin but he can never make this prediction right again about the end of the cash.
This world would change if that will happen, which I don't see possible anytime.

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BitMEX CEO Arthur Hayes says he believes Bitcoin is heading to a new all-time high.

He did not say " when " Because he does not want to risk his reputation too much.

Hayes says a new round of money printing from governments around the world will boost Bitcoin by the end of the year, bringing BTC to $10,000.

when the year ends and the price does not reach $10,000, it will hide from the press for a long time and will come back when the price goes up, this has been the strategy of these guys who own exchanges, experts and fund managers when they do predictions and then fail on forecasts

In the long run, Hayes says cash will disappear completely...

maybe this will happen in 100 years

“I think China and India are going to be the first to really do it...

definitely I find it very difficult, we are talking about 2 countries that do not like bitcoin and it seems to me that they are striving to be more centralized and controlling their people

[bitgolden]

If cash stops to be in existence, then I think we are going to see the price of Bitcoin even much more than $100,000 because once inflation starts to eat up a country, they begin to find alternatives that will help grow their economy without the use of their own money, this were Bitcoin will come in place because it's never going to lose its value but rather gain value since the supply is much more than the demand, then we might even see the price of Bitcoin getting to $1 million, this is why we need to buy Bitcoin now.

[StarofBTC]

LOL, I'd agree with the prediction, but the end of cash, no way.
He was smart to make a fortune on bitcoin but he can never make this prediction right again about the end of the cash.
This world would change if that will happen, which I don't see possible anytime.

It is good to hype whatever we believe in, but there is need to create little room for reality sometimes. I am sure even satoshi knows that BTC cannot replace cash completely and that is the main reason why he created the coin to be an ALTERNATIVE payment method, he never imagines or thought BTC will replace cash.

If the creator of the system doesn’t expect it to do so, irrespective of how valuable and widely accepted the coin is, I don’t think there is any need for us to create unnecessary view. Well, we are not obliged to fully take everything, we just hold on to that which we believe and that is the aspect of increased value which is very true.

[Distinctin]

LOL, I'd agree with the prediction, but the end of cash, no way.
He was smart to make a fortune on bitcoin but he can never make this prediction right again about the end of the cash.
This world would change if that will happen, which I don't see possible anytime.

It is good to hype whatever we believe in, but there is need to create little room for reality sometimes. I am sure even satoshi knows that BTC cannot replace cash completely and that is the main reason why he created the coin to be an ALTERNATIVE payment method, he never imagines or thought BTC will replace cash.

If the creator of the system doesn’t expect it to do so, irrespective of how valuable and widely accepted the coin is, I don’t think there is any need for us to create unnecessary view. Well, we are not obliged to fully take everything, we just hold on to that which we believe and that is the aspect of increased value which is very true.

Bitcoin will just take a portion of the online payment system, and we could dominate it, who knows but we all will still convert bitcoin to fiat.
The adoption might increase as what we called mainstream adoption but cash or fiat will always have biggest adoption as everyone are using cash.
Things that we have to understand that not all cash users are bitcoin users but all bitcoin users uses cash as well.

[michellee]

I don't think that that will be the end of cash because cash still available in all country and that means, people still believe cash for making a transaction. Bitcoin can increase into $10k, I don't have any doubt, but we are don't know when the price can reach that number, maybe this year or maybe in the next year. That still a prediction for me and it's the same as the other prediction that we already have seen or will see it later.

[GregH37]

He is not far from the truth, I really expect bitcoin value to peg at $10,000 this year and pick within $20000 to $50000 next year which I also believe that we all have the same view as this, but what I strictly do not understand is the relationship between printing of money by banks and that of the price of bitcoin.

Although it depends on why the money is being printed, if it’s being printed to get rid of the bad ones in the market, I don’t see any correlation but if the money is being printed to create more circulation that they are short of, I think, its logical to say that more money will be in circulation and give the opportunity to people who are yet to invest to have money for investment. HE needs to clear the air on this.

[Spaffin]

In my opinion, people whose work is connected with non-cash forms of money are a little off from real life. If they think that they can live without cash, because everything is adjusted in them for making settlements in non-cash forms, then others can easily do without cash. It's not like that at all. Cash will not go away after five or fifty years. Most states are not ready for such a drastic step, and perhaps a few hundred, maybe more, years may not be ready.

[Oceat]

I don't really believe these people who do predict the price and saying something that is not really going to happen. They were all trying to make a name or are they trying to catch some attention of the investors? When you look at the price today, how would he know that $50k will be the end of cash?

[adaseb]

I don't know how it is in Europe or Asia but here in Canada, cash is basically accepted at 99% of places. The only places not accepting cash are maybe Costco Gas stations (due to slow-downs ) and maybe some Self checkout Kiosk's at grocery stores.

However you can pretty much pay with cash anywhere. And even if the place only accepts credit cards ,you can go to a grocery store and buy a prepaid credit card and pay that way.

I think we are at least a decade away from a cash-less society.

[dothebeats]

Too soon to call it the end of fiat money as we know it. There certainly is a problem from banks printing more and more money each day though I can't seem to find any direct correlation of both from each other, even though it has been pointed countless of times that bitcoin's rise may be attributed to the fall of cash in the next 2 years or so. Also, the governments and banks would surely not let their toy get beaten up that easily and will surely find ways in order to revive it. We are too far from a cash-less society for as long as we don't take up the initiative to use and receive bitcoins and crypto whenever possible.

[Juggy777]

Too soon to call it the end of fiat money as we know it. There certainly is a problem from banks printing more and more money each day though I can't seem to find any direct correlation of both from each other, even though it has been pointed countless of times that bitcoin's rise may be attributed to the fall of cash in the next 2 years or so. Also, the governments and banks would surely not let their toy get beaten up that easily and will surely find ways in order to revive it. We are too far from a cash-less society for as long as we don't take up the initiative to use and receive bitcoins and crypto whenever possible.

Hey fiat money will never end and there’s no way to make all that fiat money suddenly worthless, as crypto’s are yet not favoured by most countries. I also know places where internet doesn’t work, how will they pay for their services?. Also as you have rightly said it banks will never let fiat die, isn’t it obvious by the way bank ceos try to bash bitcoins everytime it rises.

[pooya87]

basically now that price has officially started to rise, all of a sudden every kid around the block is turning into an expert and they all insist on publishing their "predictions" about bitcoin and compete with each other over what number they come up with for the next ATH and they are all full of themselves while doing so.

[jakezyrus]

so many new personalities appeared lately and all of them are predictionist but the problem is that most of their predictions are too good to be true and seems unrealistic . now back on this topic  . this one is not really exage but 50k usd might take alot of years and decade to achieve  because right now  ,the value is only at 4 to 5k usd  . we dont even reach the 1/4 of the said prediction  but what makes me laugh is when he say that the money will end .  lol thats impossible imho