Peter Schiff speculation, bitcoin will never hit $50k

[Torque]

bbc.reporter, is it some kind of inside joke that you never get the fucking photo right of the guy you are supposedly referring to?



And yes, Peter Schiff will never live this one down when it comes to pass Bitcoin @ 50K.

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[thecodebear]

Lame. It could very well be $50k a year from now. That prediction is gonna look real bad pretty quickly.

[exstasie]

We should probably stop giving him unnecessary attention. If anything, we're actually helping him by giving him attention(regardless if negative or positive), not the other way around. Dude currently has 163k followers on Twitter. I'd bet money that he wouldn't have that much followers if people didn't give him attention when he first started trashtalking bitcoin.

I think it's a symbiotic relationship. I'm sure a nonzero number of Schiff's followers have looked into and/or bought into Bitcoin since he's always showering attention on it. I'm also not too worried about losing Bitcoiners to gold bugs.

bbc.reporter, is it some kind of inside joke that you never get the fucking photo right of the guy you are supposedly referring to?

I find it consistently funny. Let's keep it going, bbc.reporter.

[DeathAngel]

Lame. It could very well be $50k a year from now. That prediction is gonna look real bad pretty quickly.

Certainly a genuine possibility 6-12 months post halving. I dunno why people put themselves out there to be trolled.

[o_e_l_e_o]

Man with all his assets in gold bad-mouths bitcoin!? Well I never. In other news, typewriters say computers are overly complicated and unnecessary.

Why are we paying any attention to Schiff? He is a perma-bull on gold, perma-bear on everything else, and constantly wrong.

“Gold’s got only one direction to go, and that’s higher,” Schiff said in October 2012. “People are going to be shocked at how inexpensive gold was” when it was trading at $1,700. In that interview, Schiff called for gold to rise to $5,000 in a “few years”; when asked about the time horizon for this target, he replied: “I think you’re going to see a big move sometime in the next couple of years.” Made when gold was trading about $1,700, this prediction may count among the least prescient ever made on CNBC.

In October 2012, with gold at $1,700, he said gold can only go up and will be at $5,000 within a couple of years. Since that quote 7 years ago, gold immediately went down and has never been higher than $1,700, let alone anywhere near $5,000. He wasn't just wrong, he was catastrophically wrong.

In October 2014, with gold at $1,200, he said gold was "going through $2,000 very quickly". Over the next year, gold would fall further to $1,050, and still hasn't breached his $2,000 target, let alone his $5,000 one.

Now, 7 years on and still sitting at a loss from his original prediction, he says "Don't buy bitcoin, buy gold - it's going to $5k very soon". Why people bother to pay any attention to this I don't understand.

[sana54210]

By considering dude loves "gold" which is something that increases peanuts compared to crypto, its not a wonder he can't understand how something that is 10 thousand dollars right now could reach 50 thousand dollars. I mean he is used to things that are going up 1%-2% a year and that's it, when something is up 5% in a year he sees that as an insane improvement, now think of bitcoin that went from 1k to 20k to 3k to 10k, that is something he can't really comprehend properly. That is why I think its only natural that he thinks bitcoin will never be 50k.

I mean "never" is a strong word, if he said not in the next decade I would have understood that but "never" is really strong even for him. Don't worry tho, it will be over 50k in couple of years for sure.

[Slow death]

Let us balance the speculation subforum with some of Peter Schiff's permabear trolling. We cannot listen to Tom Lee all the time, can we hehehe?

this subject has become a competition between Tom Lee and Peter Schiff... and this is one of the few times I will defend Tom Lee.

bitcoin is limited, and currently there are thousands of people in this world who do not have 1 BTC or even a small fraction of bitcoin, if more people buy bitcoin in the future then the price can reach $50,000. In my opinion the $ 50,000 forecast is not an unrealistic forecast, it could take maybe 10 years, I don't know. But I think the $50,000 forecast is a realistic forecast.

[bitbunnny]

Another speculation and character that is given too much attention. He is obviously commited to gold which is his choice but that doesn't mean he is an expert for Bitcoin and that his prediction is something that should be taken seriously. Obviously people care too much about different predictions and speculations, like this is going to actualy change something.

[bbc.reporter]

bbc.reporter, is it some kind of inside joke that you never get the fucking photo right of the guy you are supposedly referring to?



And yes, Peter Schiff will never live this one down when it comes to pass Bitcoin @ 50K.

What do you mean? I will never do something like that. This is outrageous, I shake my head hehehe.

That is a nice screenshot of Tom Lee and Peter Schiff together. Bump that once bitcoin is on $50k hehe.

[pooya87]

And yes, Peter Schiff will never live this one down when it comes to pass Bitcoin @ 50K.

nah, people are just going to forget about this one like they have forgotten about all his previous predictions about bitcoin. this one at least has some positivity about it. so far he has been predicting bitcoin to fall down to 0, with this he seems like he has given up on thinking 0 is possible

[soxxx]

Peter Schiff doesn't even understand Bitcoin, and I mean that quite literally. Recently he had to figure out how to post his wallet address on twitter, and he couldn't even figure out how to do that, and didn't know what a wallet address even was.....but this is the same guy who proclaims Bitcoin is just thin air, yet he doesn't understand even how it functions.

[leea-1334]

We should probably stop giving him unnecessary attention. If anything, we're actually helping him by giving him attention(regardless if negative or positive), not the other way around. Dude currently has 163k followers on Twitter. I'd bet money that he wouldn't have that much followers if people didn't give him attention when he first started trashtalking bitcoin.

I think it's a symbiotic relationship. I'm sure a nonzero number of Schiff's followers have looked into and/or bought into Bitcoin since he's always showering attention on it. I'm also not too worried about losing Bitcoiners to gold bugs.

bbc.reporter, is it some kind of inside joke that you never get the fucking photo right of the guy you are supposedly referring to?

I find it consistently funny. Let's keep it going, bbc.reporter.

I do not really find it funny but I can appreciate that sometimes we need to take things in a different lighthearted manner. The forum and the reddits and even social media are just too serious for me. And they are being serious about PRICE,,, so ridiculous.

I think it needs bears to bring out bulls, and old to bring out new. So I agree, let us keep this happening;)

[1Referee]

Peter Schiff doesn't even understand Bitcoin, and I mean that quite literally. Recently he had to figure out how to post his wallet address on twitter, and he couldn't even figure out how to do that, and didn't know what a wallet address even was.....but this is the same guy who proclaims Bitcoin is just thin air, yet he doesn't understand even how it functions.

Peter is smart, he showed his Bitcoin address on social media so that desperate "Bitcoiners" will send him Bitcoin in an attempt to convince him of its useful nature. These people don't realize that he doesn't give a single shit about Bitcoin. He has used his coins to point out that the value has gone down after receiving them and therefore is a useless currency. It helped his narrative gain more weight.

Not in a hundred years would I send this dude even a single satoshi. People should stop wasting time on someone who's signalling for years now that he's not interested in Bitcoin. Spend this time educating people who do have an open mind.

[guoyu78]

Ha! Enough of all these speculations that are uncalled for, bitcoin will reach, bitcoin will not reach, are we God to know exactly what will happen. That was how people said years back that bitcoin will never reach $10, but look at the price now, the same way that someone said bitcoin will reach $500k by this year, where is the sign now.

All of us are just diverting from the main purpose of bitcoin and using it as store of value alone, bitcoin will peak any figure that it needs to peak at any time depending on the level of acceptance and usage and also depending on the factors at that time. Bitcoin is meant to be seen worldwide as a means of payment and that is what we ought to be pushing right now and not discussing all these men that are just talking because of their person and not out of their knowledge.

[Wind_FURY]

Gold bugs will always be gold bugs. He's a gold HODLER, can you blame him? I believe precoiners/nocoiners also have the same opinions on Bitcoin HODLERS. Hahaha.

[Zemomtum]

I have a personal opinion that no matter how famous you are, Bitcoin in unpredictable by price movement most especially breaking the all time high. Peter Schiff saying Bitcoin will never attain $50k is just an opinion, it can surpass in a short time frame, nobody can predict the future, we cal only get ready to get along when it happen. 

[SirLancelot]

bbc.reporter, is it some kind of inside joke that you never get the fucking photo right of the guy you are supposedly referring to?



And yes, Peter Schiff will never live this one down when it comes to pass Bitcoin @ 50K.

What do you mean? I will never do something like that. This is outrageous, I shake my head hehehe.

That is a nice screenshot of Tom Lee and Peter Schiff together. Bump that once bitcoin is on $50k hehe.

But wait, did someone Photoshop those tom lee response in there or was that tom lee response really to the message because his response has too many interpretation, and we have some people that could interpret that “sad” as confirming that its sad bitcoin will never reach such price, because for me, I interpreted it as sad of “shaking my head for you”, more like, you will miss out so big without you knowing.

Anyway, I think that peter is wrong, I understand the volatility of bitcoin, and what those bastard bears are doing to the market stopping bitcoin from breaking further barriers anytime it tries to, but I know that their money will finish from the market one day, and the market will have that breathing space to climb as many lather as it can climb with pressure or challenges.

[fabiorem]

Why did you post his father picture as if it was him?

I remember a guy who said Schiff is into crypto, and want to buy a lot. Thats why he is so bearish, he want to buy.

He accept crypto for buying gold in his website.

[LUCKMCFLY]

Let us balance the speculation subforum with some of Peter Schiff's permabear trolling. We cannot listen to Tom Lee all the time, can we hehehe?



For a man that wants nothing to do with Bitcoin, economist and Euro Pacific Capital CEO Peter Schiff never misses an opportunity to share his opinions about the cryptocurrency.

His latest prediction? “Bitcoin will never hit $50k,” Schiff proclaimed today on Twitter.

Schiff is well-known in the world of finance as an unapologetic goldbug, a catalog of profitable investments—and, yes, correctly predicting the 2008 U.S. housing bubble and ensuing financial crisis.

Read in full https://decrypt.co/8627/bitcoin-will-never-hit-50k-says-crypto-skeptic-peter-schiff

It is clear that he is a person who can know a lot about finance, but he has his mind very closed to technology, perhaps we must remind him that we are not in the 1900s where the traditional economy was the one that dominated all aspects, somehow Bitcoin causes envy in those who cannot understand it.

[fabiorem]

The only stupid goldbug I know, is called r0ach, and he is a hysterical /pol/tard nazi.

Every other goldbug, is buying crypto. Some hide it, like Schiff does, and some do not, like Berwick.