[2019-09-12] Bobby Lee Suddenly Makes $200,000 BTC Price Prediction

[The Sceptical Chymist]

Bobby Lee, the former CEO of BTCC, with Ballet, is done going on vacations after selling the first Chinese exchange for an eight-figure sum.

This is the reason why I think he's making such outrageous price predictions--he's obviously euphoric from that deal and has those rose-tinted glasses glued to his face.  It's either that or he's trying to get his name in the news by making that kind of prediction.  You see the same sort of behavior in shills like Max Keiser and the rest of the precious metal permabulls. 

Could bitcoin go to $200k?  Sure.  But there's no reason to think it's going to happen anytime soon, and any idiot could pick a price that high and say bitcoin is headed toward it.  Doesn't make it true.

I don't know this guy but his hardware wallet is yelling "SCAM"!

Yeah, I read about that wallet in a thread here and it definitely sounds shady, if not an outright scam. 

[Red-Apple]

I don't know this guy but his hardware wallet is yelling "SCAM"!

Yeah, I read about that wallet in a thread here and it definitely sounds shady, if not an outright scam. 

that thing is one of the shadiest things i have ever seen, specially because of the way it is being advertised on the internet!
but i think it is just a money grab project to fool the newbies into buying their garbage and taking their money by first creating a decent looking thing then advertising it as "safe". this "guess the price" thing is also done to get more newbies in so they could have more victims.

[Tylev]

Bobby Lee has always made such optimistic forecasts, but I still do not remember that they come true, so he predicts high bitcoin prices in the near future. I still admit a rise in the price of bitcoin to $ 50,000, and then for a short time, and its price is one hundred and two hundred thousand dollars, this, in my opinion, is from the realm of fiction. Bitcoin holders themselves will lower this price. Market laws will work in this case too.

[sana54210]

Lol, I love people anyway, I guess they have seen that bitcoin has a way of drawing attention to them when they speak good of it, that is why many of them just say whatever they like about bitcoin even if it is not a reasonable one. They might have been famous a little, but this will cause them to be famous the more.

It is a good thing that he is doing, at least better than all those FUD makers that want nothing good for bitcoin. actually to a length, I believe him, and I believe that bitcoin could really get to $200k in future, but that would be when bitcoin supply limit has so much depreciated to when demands of bitcoin become much more than supply and bitcoin becomes a little bit scarce to acquire, but that I see maybe in 10 years’ time, at least within the 10 years.

[The Cryptologist]

He has a new product to hawk so of course he's going to make lots of noise and everyone likes to hear a far out price prediction. It would be more interesting if for once someone made a far out prediction about its eventual uses and how it'll change the world - 'your sexbot will run on Bitcoin by 2030'.

I guess that's less eye catching.

No way, I always find those who buy sexbot as the disgusting kind of people in this world. So in short, this is all just part of a marketing by a person who you can't trust in any way. And also, this was not very shocking and this guy is just a newbie in making predictions because several people have already made their btc prices to hit $1m in 3-5 years so please don't even bother.

[Wilhelm]

I don't know this guy but his hardware wallet is yelling "SCAM"!

From the article in coin desk (https://www.coindesk.com/early-bitcoin-entrepreneur-returns-with-a-crypto-hardware-wallet-for-the-masses)
"On each wallet, beneath the QR code, there is a string of printed encryption code"
So they basically give you a pre-issued private key which is probably locked for the sake of "simplicity" and which they can very easily have copies of in their servers.

I suppose that his plans are as following,

• Release a compromised hardware wallet in a very low price
• Call a random huge target for Bitcoin in order to get people's attention
• People who noticed will google for the name "Bobby Lee" and they'll find out about a new hardware wallet which is very cheap
• Some will buy this wallet and store their coins in
• When he has sold enough and the BTC price goes higher, he uses the private keys he has stored, steals the coins and pulls an "oops, we got hacked"

Technically though, I suppose this wouldn't be a steal... since the private keys were his from the start and people decide to store money on HIS keys!

I need to bookmark this post of mine and lol about it when this comes true in a year or two!

You've just summarized how all this "hacking" in exchanges go.

But most people prefer that way. They dont want to have responsibility over their own money. Thats why I dont believe bitcoin will destroy the banking system. Banks oppose it only because they are run by boomers.

I like to think that if you dont have your own private keys, then you are still a nocoiner. This people who keep all their bitcoin in exchanges, and dont have their own wallets? Nocoiners, all of them.

Good point, I believe people who do not have the technical know how, would like an intermediate party to help them and guarantee the safety of their money. And yes these parties need to be checked by the authority. Basically it’s what we call a bank.

And you probably use a bank? I don’t consider you any less of a human because you don’t have a vault in your house with all of your money/gold stacked. Apparently you trust banks with your money even though they could screw you over anytime/any day.

Do you read every line of code for all bitcoin apps and the bitcoin client, online bitaddress wallet generator? NO?... there could be malicious code in there too... and yes backdoor keys are possible.

This is why I think bitcoin will always remain a cash system. It’s like money you carry on you.
For banks bitcoin could be gold.
Any party wanting to store your bitcoin would need to be checked and covered by insurance.
I do not think bitcoin should replace everything. This would create anarchy and if you lose your keys your a dead (wo)man.

[buwaytress]

Good point, I believe people who do not have the technical know how, would like an intermediate party to help them and guarantee the safety of their money.

Yeah, there's a lot of consumer rationale that explains why custodial services are so popular but for me the main thing simply is that people are accustomed online now to have a fallback plan to recover a lost password or account. The internet taught us to have passwords, but it also made a way for you to recover them. It needs people to switch to the proper mentality first, and for them to do that, they have to understand the new paradigm of money (or ironically, the original paradigm), which is that you should own your own money, and that means you and only you should have access to it.

[Wilhelm]

Good point, I believe people who do not have the technical know how, would like an intermediate party to help them and guarantee the safety of their money.

Yeah, there's a lot of consumer rationale that explains why custodial services are so popular but for me the main thing simply is that people are accustomed online now to have a fallback plan to recover a lost password or account. The internet taught us to have passwords, but it also made a way for you to recover them. It needs people to switch to the proper mentality first, and for them to do that, they have to understand the new paradigm of money (or ironically, the original paradigm), which is that you should own your own money, and that means you and only you should have access to it.

The new paradigm you talk about is anarchy. Can't wait for them to steal your money and spit on you alongside the road, maybe then you will regret your stance. You beg the government for aid but nobody is paying tax so the gouvernement is broke in you are shit out of luck.

If you want to turn this world into a ghetto or have everyday of your life look like "the purge" or "mad max" you've got a plan. Society as you know it would crumble... Enough movies illustrate that.

Bitcoin is a great system and could be the heart of the monetary system however it needs to be adopted and encapsulated. Or just leave it as cash money. It is NOT a rip and replace for the current system even if that system is crap as well...

That's my 2cts and am interested in how society with monetary anarchy could work...

[lixer]

There is a bit of relevance to his company being a bit of a shady looking thing and him calling bitcoin for 200k prediction, however its not fully relevant. He could have created a wallet that is literally stealing peoples money, that could be a thing however at the same time he could be right about the 200k, just because someone is a scammer doesn't mean he doesn't know what bitcoin is and what can it do.

Obviously, it is a bit relevant because dude is basically trying to convince people of something and if he actually did scammed before that means he tried to convince people for something before and tricked them and he is after it again. However, for something as general as bitcoin price, it is not just about him, many people believe there is no cap for how high bitcoin can get.

[RivAngE]

He could have created a wallet that is literally stealing peoples money, that could be a thing however at the same time he could be right about the 200k, just because someone is a scammer doesn't mean he doesn't know what bitcoin is and what can it do.

Any random call "can be right", it doesn't have to be based on research to have a slight chance of coming true. However this doesn't mean it's also a credible opinion.

I also don't believe this guy cares about Bitcoin (not sure if he's technically knowledgeable about it though), if he cared he wouldn't be scamming people which in turn hurts BTC's reputation.
All I see is an opportunist, he just sees a newly introduced asset of value with a lot of inexperienced and greedy people surrounding it, just an easy target to scam.

[bitgolden]

Some opinions weight in more than the others however the topic is also very important. For example, someone saying bitcoin will be 20k in the next week would have be someone very credible and I wouldn't believe them even if they were super known and liked people unless I agree with the logic.

Leaving the that aside if someone says it will be 200k one day then I may agree with them without doing any extra research or knowing the person. At the end of the day there is really no logic behind bitcoin going to 200k one day, it has no deadline and it is totally possible, will it happen? I don't know, can it happen? Sure it can. That is why credibility is really important depending on the topic not on the person most of the time, if the topic requires credibility then yes but if it doesn't then I can say something and it would make no difference.

[CoinEraser]

This is only once again one of many predictions about the future price of Bitcoin. Yes, I think they'll be right about the price prediction, but I'm bored with those predictions. It's easy to predict the obvious. 

[Lucius]

Bobby Lee is just notice Tim Draper speculation from April 2018, he says 1 BTC will be $250 000 at the latest in 2023, so Bobby say $200 000 just to be sure to be first whose speculation will become reality

Joking aside, as some other members say he needs some free PR for his new "hardware wallet", and by giving such prediction he gets what he wants. Do you remember John McAfee and his crazy $1 million prediction? He was also launch some wallet at that time, I think it was hacked very quickly.

[beerlover]

It is like saying bitcoin will be $11k one day, yeah "one day" it will be $11k, probably very soon as well, it is easy to say bitcoin will be $200k one day, its another to say it will be $200k in 6 months, there is a big difference. I personally feel like $200k is a long long long way down the road, it probably won't happen anytime soon, that is why I am not full in crypto, most of my stash in crypto but I still keep some in fiat investments because they feel safer, I know I won't make much money from them, however I feel like its a good way to dilute your investments into many stuff, if you don't than you end up with one bad move and your all-in becomes all-bag instead of profits.

$200K shouldn't be the goal, $50k should be the more realistic goal and $20k should be the short term goal.

[barbara44]

This is only once again one of many predictions about the future price of Bitcoin. Yes, I think they'll be right about the price prediction, but I'm bored with those predictions. It's easy to predict the obvious. 

I think that the boredom is more in my own side than yours because I am tired of all the speculations, and I think those people are just making mockery of the system now, because sometimes, their prediction can be unrealistic just because they want to become famous using the name of bitcoin, or they want to add to their fame using the bitcoin hype that is on ground.

I usually don’t pay attention to those people, my investment in bitcoin is not for a short term purpose but for a long term one, and whatever is going to happen to bitcoin will surely meet us here, I believe in the future of bitcoin generally and I believe that the value will once again go above the last all times high that we got, maybe next year since we are already close to the bull run.