Peter Schiff "Now all I have to do is HODL and when BTC Moons to 1 million....."

[WhyFhy]

I've been arguing with this clownguy for months about this now he's on board?!? wtf!
Thanks Erik V

[1714124660]

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[PointHope]

I've been arguing with this clownguy for months about this now he's on board?!? wtf!
Thanks Erik V

The sad idiot shoulda learned from his dad bekng murdered by greedy federal agencies.

The social/cultural changes represented by Bitcoin are not about greed and Lambos.

[samcrypto]

I've been arguing with this clownguy for months about this now he's on board?!? wtf!
Thanks Erik V

Some of those who criticize bitcoin really owns it because they have the hidden agenda from doing that. Now this scenario is the proof that whether you believe on bitcoin or not, if you experience to earn money you will slowly love it to hold more bitcoin. Well, he might be buying more bitcoin now and still planning to hold until the moon was hit. 

[Sharon121212]

To me I see those that says all the time with so much anticipation that I would hold till bitcoin boom as not really seeing bitcoin for it real substance and value. They are the type when a bear market comes In they would be quick to panic and instigate critical thought about bitcoin.
Try to at least value bitcoin, believe its usefulness rather than yet another investment initiative.
This believe you would have in bitcoin would determine your stance in the good or bad times.

[Bitcoinqubit]

I've been arguing with this clownguy for months about this now he's on board?!? wtf!
Thanks Erik V

there is another factor to take into account which bend the time in crypto and it work only in small supply coins...

when the supply is very small like 21 million coins and demand is to much big and no body sell coins its surge the price to astronomical number and in this situation the marketcap is misleading somehow...

lets look on this effect in different industry like diamonds.

lets say for now that there is x=500000000 demand for y=7000000 diamonds , now in order to understand this effect we need to think what will happen if we lower y to 30000000 just for the example, in other words the demand is much more big now and its surge the price per diamond without actually selling any,

what i mean is when demand is grow and there is low supply and no body sell its surge the price per coin to astronomical number and in this point market cap is some how fucked up its hard to calculate this,

its just example what can happen with small supply coins when there is huge demand and no body sell them and there is max supply compare to diamonds and gold, its fucking surge the price to astronomical number, its happen over the history in other verticals....

for example there was few rare diamonds which the price was around 80 million dollars per diamond, the demand grow for them and no body was sell them so the price surge to 150 million dollar per diamond , so after some time was founded bunch of this diamond compare to few , the price fell to 60 miilion per diamond.

its a game of supply and demand and if supply is very low and demand is very huge and no body sell its surge the price of the supply to astronomical number.

this kind of effect cannot happen with projects with billions of coins because if the supply to much big it lose value over time and demand will never will be more then the supply in projects with billion of coins.

[Bitcoinqubit]

To me I see those that says all the time with so much anticipation that I would hold till bitcoin boom as not really seeing bitcoin for it real substance and value. They are the type when a bear market comes In they would be quick to panic and instigate critical thought about bitcoin.
Try to at least value bitcoin, believe its usefulness rather than yet another investment initiative.
This believe you would have in bitcoin would determine your stance in the good or bad times.

there is another factor to take into account which bend the time in crypto and it work only in small supply coins...

when the supply is very small like 21 million coins and demand is to much big and no body sell coins its surge the price to astronomical number and in this situation the marketcap is misleading somehow...

lets look on this effect in different industry like diamonds.

lets say for now that there is x=500000000 demand for y=7000000 diamonds , now in order to understand this effect we need to think what will happen if we lower y to 30000000 just for the example, in other words the demand is much more big now and its surge the price per diamond without actually selling any,

what i mean is when demand is grow and there is low supply and no body sell its surge the price per coin to astronomical number and in this point market cap is some how fucked up its hard to calculate this,

its just example what can happen with small supply coins when there is huge demand and no body sell them and there is max supply compare to diamonds and gold, its fucking surge the price to astronomical number, its happen over the history in other verticals....

for example there was few rare diamonds which the price was around 80 million dollars per diamond, the demand grow for them and no body was sell them so the price surge to 150 million dollar per diamond , so after some time was founded bunch of this diamond compare to few , the price fell to 60 miilion per diamond.

its a game of supply and demand and if supply is very low and demand is very huge and no body sell its surge the price of the supply to astronomical number.

this kind of effect cannot happen with projects with billions of coins because if the supply to much big it lose value over time and demand will never will be more then the supply in projects with billion of coins.

this effect will start to work when people dont need to convert crypto to fiat money and use it directly ,

zeex startup going to help this happen and by this kind of stratups we can predict this kind of effect.

zcash spiked to 2.3 miilion per coin becaus of this effect

[qtronix]

I am very confused by what everyone is saying that bitcoin will be able to achieve such a high price. Because often the market behaves contrary to the forecasts of the majority. It may never happen as much as we'd like to believe it.

[HardFacts]

I am very confused by what everyone is saying that bitcoin will be able to achieve such a high price. Because often the market behaves contrary to the forecasts of the majority. It may never happen as much as we'd like to believe it.

In a Bubble, or Mania, the Market ALWAYS behaves contrary to the forecasts of the majority, warnings of the bubble are dismissed and ridiculed by those blinded by greed.    This has happened many times throughout history. 

Peter Schiff was laughed at when he forecast the housing bubble, and 2008 crash.   Very much like we are seeing here in his forecast on Bitcoin.     Only a fool would have a significant amount of money invested, and not look at, and seriously consider all information and risks.

[WhyFhy]

I am very confused by what everyone is saying that bitcoin will be able to achieve such a high price. Because often the market behaves contrary to the forecasts of the majority. It may never happen as much as we'd like to believe it.

In a Bubble, or Mania, the Market ALWAYS behaves contrary to the forecasts of the majority, warnings of the bubble are dismissed and ridiculed by those blinded by greed.    This has happened many times throughout history. 

Peter Schiff was laughed at when he forecast the housing bubble, and 2008 crash.   Very much like we are seeing here in his forecast on Bitcoin.     Only a fool would have a significant amount of money invested, and not look at, and seriously consider all information and risks.

Are you peter lets try some word play and see your post history ?
More ironically the date created on your account!

"I was laughed at when I forecast the housing bubble, and 2008 crash.   Very much like we are seeing here in my forecast on Bitcoin.     Only a fool would have a significant amount of money invested, and not look at, and seriously consider all information and risks."

A  fool smart guy and his gold are soon parted, and united with Bitcoin.

and jk i dont care if your peter welcome to bitcointalk

[Dapper]

Best to have a balanced portfolio.   I've been into crypto for 9 years and despite wonderful gains (and way better gains than any other assets I hold), I still advise balance.   Never be all in.   Balance between stocks, fiat (and a wide basket of currency while in fiat), real estate AND crypto.   

[adaseb]

I don't think he bought any more Bitcoin. He says that Erik gave him about $50 worth and he hasn't touched it since the conference.

So he could of given him the Bitcoin when it was $250 per coin and right now he would be up to $2000 with his original $50 deposit.

I don't know why he actually brings this up. The guy is almost 60 years old and in my opinion Bitcoin is too technical for him and he probably won't invest too much into it. Basically no different than Warren Buffet.

Bitcoin is for the millenials pretty much and people that are more technical with computers and such. Will be a while before it becomes user friendly as an iPad.

[Upgrade00]

I am very confused by what everyone is saying that bitcoin will be able to achieve such a high price.

I sense a hint of sarcasm in that post, and such a price is not feasible in the distant future. But is it a possibility? I would say yes. For Bitcoin to be a global currency and be used as reserve funds then it has to be valued Hugh enough to cater for the entire globe.
The supply is fixed, so that leaves only the price to grow.

Eventually everyone would want to own bitcoins, and there has to be enough value to go round.

[BeManga]

I've been arguing with this clownguy for months about this now he's on board?!? wtf!
Thanks Erik V

it the proof that dont always believe what other people say some of them have hidden agenda
bashing bitcoin can be use by some people with influence to buy cheap from weak hands
he might learn the true value of bitcoin and taking advantage of the influence he have.
i will not be shock if he reveal that he have a lot of bitcoin and buying for a long time.

[pakhitheboss]

I've been arguing with this clownguy for months about this now he's on board?!? wtf!
Thanks Erik V

Slowly, more people will come out of the closet and take ownership of owning Bitcoin. I think almost all of them who are against Bitcoin does own some of it. They do know that someday it will moon and they will have more money to spend.

There is a hidden agenda. If Bitcoin goes down I will go to the public and claim it as a Bubble. If it goes up I will enjoy with that money.

[sixtyonefourfive]

If he doesn't like bitcoin, then let him choose from the 2000+ altcoins, surely he might just like one of them, maybe HST decision token

[deisik]

this kind of effect cannot happen with projects with billions of coins because if the supply to much big it lose value over time and demand will never will be more then the supply in projects with billion of coins

This has very little to do with the total supply as such

You can have only 21M of Bitcoin and like 99B of Dogecoin (I don't really know what Dogecoin supply is these days but it is definitely way higher than Bitcoin's), so it looks like you are correct. Well, the truth is you are not. You can just use another unit, and then there'll be 21 quadrillion satoshis. Now we have 21 quadrillions of satoshis with a price tag (per satoshi) quite comparable to 99 billions of dogecoins (per dogecoin), which clearly shows that your reasoning is pretty much flawed. It just happens that the demand for bitcoins is way higher overall than the demand for dogecoins, and that drives the prices up irrespective of the unit used

[Juggy777]

I've been arguing with this clownguy for months about this now he's on board?!? wtf!
Thanks Erik V

I am not sure whether I should criticise him for being a hypocrite, or praise him for advocating holding of bitcoins. How many of you’ll feel he has already brought lots of bitcoins, and is waiting for it to go up and then he’ll sell it. The prediction he has made won’t be achieved anytime soon, which proves he has no knowledge about bitcoins and he has copied the number which other analysts keep on repeating.

[7788bitcoin]

The social/cultural changes represented by Bitcoin are not about greed and Lambos.

Everyone has their priority and Philosophy on what to do with the profits you earn from your investment, what is the point in dictating others on what they want to do with the money they made  . I am not going to comment on his dad's demise but he is an investor and he was skeptical and even now with this tweet i feel it was kind of a sarcasm from his part about bitcoin reaching a million dollars, i feel like he made that tweet to prove that the media outlets favoring bitcoin will take something out of nothing and create a new version of their story  .

[Haunebu]

Never heard of this guy. I don't really see why we should care about his sarcastic comments either way. Its not like he is Bill Gates or some other huge personality who can help BTC adoption move upwards drastically.

Ignore the FUDsters people. They probably might have felt embarrassed when Bitcoin shot up to thousands of dollars from a couple of cents. They will always find something to complain about. Your own belief is what matters the most at the end of the day.

[Kakmakr]

I think it is clear that he is not "into" Crypto currencies, but he does not mind getting profit for free. The $2000 is insignificant, compared to his other investments, so it does not bother him at all.... he can just poke a finger at it and wait for it to Moon. 

I do not like Gold & Silver and stocks and bonds, but I own some of it, because I NEVER put all my eggs in one basket. He can decide what percentage of his wealth must be in high risk investments like Crypto currencies, so let it be. <We have to decide on our own and not forced to buy specific commodities or financial tools>