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odolvlobo
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November 10, 2019, 05:02:32 PM |
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I find it hard to take someone seriously when they write something like this: ... money is completely useless, other than being a medium of exchange.
A statement like that generally signals that the author takes an extreme position, and is making unsupported claims based on dubious research and data.
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joniboini
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November 10, 2019, 05:13:28 PM |
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Can't find this Rodney guy on the internet. Which bank that employed him previously? I tried to Google search the profile pic but nothing shows up. Really difficult to find a former analyst and merchant banker nowadays.
Note: Street Wise is the only website that contains detailed info about him.
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diazepam666
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November 10, 2019, 05:38:44 PM |
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Bitcoin comparison with gold is being speaking around five years before onwards but you need to know ounce of gold cost was crossed by the Bitcoin in the year of 2017 itself. As titled bitcoin prices reaches such value means I may have 20000 USD and more.
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kryptqnick
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November 10, 2019, 05:46:47 PM |
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I find it hard to take someone seriously when they write something like this: ... money is completely useless, other than being a medium of exchange.
A statement like that generally signals that the author takes an extreme position, and is making unsupported claims based on dubious research and data. Okay, it is formulated in a rather radical way, but it is true that the main purpose of money is to be an intermediary that allows exchanging some goods and services for other goods and services. Taking a look at the article, though, it has many dubious statements. For instance, Furthermore, the destiny of all money is extinction.
This one is not backed up by anything nor it is unpacked for readers. All particular fiat eventually fails because of inflation getting too high, that's true. However, new fiat takes its place and it does not look like money is to disappear anytime soon. Moreover, I don't like it when Bitcoin is treated as an asset, and his price prediction does not seem realistic, and I don't understand why he'd throw gold's value into the calculation like that. This view does not take into account that for some Bitcoin is money, not an asset.
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YuginKadoya
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November 10, 2019, 07:04:55 PM |
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Definitely, the price is reaching another level of height and that is the all-time high for Bitcoin and many are continuously speculating for the price bitcoin to be reached and even though the price may reach that kind of potential the $400,000 in the future I guess it is too early for the price to settle in that level, I am guessing that the price would be at the $40,000 or $50,000 USD I guess I can not say that the price will settle for that price.
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BlackFor3st
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November 10, 2019, 07:30:58 PM |
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His analysis is very far from the reality right now especially if you follow closely how the market flows. There is no up always and the market is like a wheel that you don't know when the price will raise or fall. If in case his prediction will become reality then maybe in the future like 20 or more years from now as everything is possible and there is a big chance that crypto currencies especially the bitcoin will become the main currency in the future.
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Pearls Before Swine
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November 10, 2019, 08:15:23 PM |
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A statement like that generally signals that the author takes an extreme position, and is making unsupported claims based on dubious research and data.
Yep, and proclamations like the one this guy made are done for personal publicity. That's all. He might genuinely believe bitcoin should be valued at $400,000 but if that's so, he's out of touch with reality. And I don't take him seriously either. I guess it is too early for the price to settle in that level
Gee, you think?
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NeuroticFish
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November 10, 2019, 08:27:25 PM |
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After a nice 2016 at the end of which Bitcoin got to 1000+, 2017 came with 20x pump. (The data is from memory, it may not be 100% accurate.)
I guess that this is expected again. It's clearly possible. Whether it will actually happen or not, we'll have to live and see.
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BeetcoinScummer
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November 10, 2019, 09:02:24 PM |
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From the article: Accordingly, our long-term price target for Bitcoin is approximately $400,000 per coin, based on taking the market cap of all the gold in the world and dividing it by the number of bitcoins that will ultimately be in circulation. I wish he would state what exactly "long-term" means. If Bitcoin continues to survive over time then it's price will likely go up over the long-term The question is: Will it reach $400,000 in my lifetime?
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Febo
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November 10, 2019, 09:33:05 PM |
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Accordingly, our long-term price target for Bitcoin is approximately $400,000 per coin, based on taking the market cap of all the gold in the world and dividing it by the number of bitcoins that will ultimately be in circulation.
This is his main argument. Reality is that something also have to replace money. If that will be Bitcoin then price should be eventually much higher.
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InvoKing
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November 10, 2019, 09:42:25 PM |
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From the article: Accordingly, our long-term price target for Bitcoin is approximately $400,000 per coin, based on taking the market cap of all the gold in the world and dividing it by the number of bitcoins that will ultimately be in circulation. I wish he would state what exactly "long-term" means. If Bitcoin continues to survive over time then it's price will likely go up over the long-term The question is: Will it reach $400,000 in my lifetime? It depends how old you are ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Every price could be possible once papers will not be used and the main fiat is removed. In other terms, once bitcoin will be adopted worldwide and satoshi become the actual dollar
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Leon83
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November 10, 2019, 10:16:16 PM |
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$400,000 is in the upper boundary of Bob Loukas' prediction of the 4 year cycle peak. He is basically expecting something similar as in 2017. I guess we can hope for 400k. But should expect something like "only" 100k. https://www.youtube.com/watch?v=oPXQa47iT28&t=
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ecnalubma
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November 11, 2019, 02:18:48 AM |
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Amazingly people Keep speculating high prices about Bitcoin, yes there’s a chance that it will reach that amount but why can’t we just stick to realistic value at the moment. Now that Bitcoin is struggling to break its ATH record I think we should leave it to market and see how long we should wait.
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watergold
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November 11, 2019, 02:25:20 AM |
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Definitely, the price is reaching another level of height and that is the all-time high for Bitcoin and many are continuously speculating for the price bitcoin to be reached and even though the price may reach that kind of potential the $400,000 in the future I guess it is too early for the price to settle in that level, I am guessing that the price would be at the $40,000 or $50,000 USD I guess I can not say that the price will settle for that price.
Too far $ 400,000 for bitcoin to reach $ 20,000 is hard to come back to as it is in 2017 bitcoin will go up in the future but I don't think it will be too high like that, even experts say bitcoin will continue to grow but at a normal price, speculate it is possible but remember we see it with analysis data.
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STT
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November 11, 2019, 02:30:36 AM Last edit: November 11, 2019, 02:53:14 AM by STT |
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A statement like that generally signals that the author takes an extreme position, and is making unsupported claims based on dubious research and data.
400k is like ten years away and buying some bread will be like $20 at that point also because they will have suffered excess money supply, so in value terms who knows. Thats possible but in 4yr I think it doesnt make sense to me without vast disruption, where as over the decade the change is handled across an entire economy so more feasible. Saying money is useless is not all wrong, we dont use the paper. FIAT is often backed by the demand as requirement as taxes. A money supply in excess of GDP has many problems but also no GDP growth means less tax demand for that paper and if they did raise taxes too high then the whole system becomes avoided by global commerce. It is an ironic setup, we dont actually want the money but want that which it represents or what it can buy so we want the purchasing power. Gold is often stated that way, most dont really want to use it but in its exchange however gold does have that base use and every other form of money potentially has a zero worth possibility. This generation of economics we are in is at the tail end of generations of failure, soft default and frayed backing to its value and exchange and it can fall apart but it sounds about as real aliens to say so now. Paper notes becoming worthless is actually the road map, its the highest probability outcome and the historical precedent but I would argue at least ten years for notable failure. 4yr for BTC 400k comes across as disingenuous.
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Hippocrypto
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November 11, 2019, 03:15:37 AM |
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Amazingly people Keep speculating high prices about Bitcoin, yes there’s a chance that it will reach that amount but why can’t we just stick to realistic value at the moment. Now that Bitcoin is struggling to break its ATH record I think we should leave it to market and see how long we should wait.
So many speculations, but in reality it was worst and disappointing. Many of us think it was a manipulation, but maybe that because of many people took good of an opportunity to sell while there's some surges happening. We need to wait for bigger investors to buy and hold bitcoin in order to see some positive signs.
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Oasisman
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November 11, 2019, 04:18:53 AM |
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Amazingly people Keep speculating high prices about Bitcoin, yes there’s a chance that it will reach that amount but why can’t we just stick to realistic value at the moment. Now that Bitcoin is struggling to break its ATH record I think we should leave it to market and see how long we should wait.
Probably a person like the author has invested huge amount in cryptocurrency. His speculations may drag people's attention and possibly make other retail investors believe his statements. Nevertheless, he's just another random investor in crypto space like us, he's just using a relevant title on his name to make it more believable. That $400,000 Bitcoin value is not impossible, but It's not realistic in this current market situation either.
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Dart18
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November 11, 2019, 05:16:53 AM |
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Can't find this Rodney guy on the internet. Which bank that employed him previously? I tried to Google search the profile pic but nothing shows up. Really difficult to find a former analyst and merchant banker nowadays.
Note: Street Wise is the only website that contains detailed info about him.
Ooh?! So now he loves the privacy? Is this guy just created also to be the front of the said website? ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Sounds like a scam ICO to me. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Can we compare it with that? $400k is a good number but just way to far. When looking at the numbers now, it is just difficult to believe that it could go so far and also in a fast pace. I would rather believe those writers or vloggers that are claiming like $15k to $20k before the end of the year. Although the analysis looks so bad, the numbers might really be reached and I'd rather listen to those types.
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pooya87
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November 11, 2019, 05:19:39 AM |
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Can't find this Rodney guy on the internet. Which bank that employed him previously? I tried to Google search the profile pic but nothing shows up. Really difficult to find a former analyst and merchant banker nowadays.
Note: Street Wise is the only website that contains detailed info about him.
everyone becomes an expert when it comes to speculating bitcoin according to news sites so i wouldn't really read too much into it. there are lots of random dudes less known that this guy with far less history of investment of any kind that are being quoted as experts by these sites! as for the speculation itself, it is not really a big deal. i would be more skeptical about $1 million+ target rather that such a low price as $400k which will most probably be reached in the nest bubble cycle.
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