Winklevoss Case for $500K Bitcoin

[aesma]

This is a long term outlook, which is good. If that price happened too quickly, that would mean there is hyperinflation going on, and that's bad, for most people. Something bad for most people might lead to bad things, like wars.

It would probably be better for all of us if that 500K price came after at least 10 years of rise (not continuous rise, as that's unlikely, but with ups and downs).

As an aside, the article is signed by "Cameron + Tyler", not just Tyler.

[HeRetiK]

Despite my love for crypto I still think reaching USD 500k is a pipe dream unless the USD gets heavily devaluated. However I felt similarly when the Winklevii predicted a USD 30k Bitcoin in 2013(ish) so maybe I'm just relatively bearish for a Bitcoiner.

Interesting read, overall. I also like that gold's proneness to counterfeit work is mentioned. It may not seem especially noteworthy, but with Bitcoin you can easily verify that what you receive is the real thing. With gold you have to highly trust your counterparty. And if it turns out that you've been duped, good luck proving that your counterparty was the one defrauding you.

[glowing10]

Good to read and hope to reach that levels. For practicality we would be happy even if bitcoin reaches 50k by 2021-year end and slowly and stable just keep moving ahead and most important thing is that it should be accepted across the globe. Not like few countries keep banning it and some remains uncertain this restricts more users to the bitcoin community to expand.

[hv_]

Thinks?

Nope, wishes.

What a shill

[bonjouros]

Predictions are not bad as long as they have basis to their claims while checking also the possibility. If they Tyler thinks that bitcoin can reach to 500K$ then I am not against to it as long as he will predict it to the right time like it will happen 10-20 years from now because if his prediction will be in less than 5 years then this prediction has a very low chances of getting right.

[BrewMaster]

it is always hard to imagine price reaching 4000% higher than the current price. we had the same feeling a couple of years ago when price was around $500 and some people were predicting the 5 digits prices while could never believe it would enter a 4 digit price let alone reach $20k.
maybe we don't reach $500k but the next high price will definitely be higher than $100k.

[gentlemand]

In my opinion Winklevoss is doing this absurd price forecast because they want people to buy a lot of bitcoin for the price to increase a lot, they went to talk about this forecast just now that the price was almost falling below $11000 and in my opinion this was not conscience

They've been consistently and quietly bullish all along. Nothing has changed. They wouldn't have bothered building Gemini if they didn't have a deep rooted belief in it and a desire to uplift it, they could've just sat back on their holdings.

Where we're at now is still comparative chump change. If and when it gets to six figures that's when the truly gargantuan pockets start to pay attention and they're the ones who move markets. So far it's been LARPing compared to that.

If someone's expectations can't wrap themselves around that scale then someone will be along shortly to buy it off them who does.

[hatshepsut93]

So far the idea that Bitcoin is a hedge against inflation is pure theory. There's no practical evidence for it. And Bitcoin has other factors that affect its price, the biggest being pure speculation, and this factor is so big that you can't strongly tie Bitcoin to any big events.

Here's the recent example. The US announced that they will allow inflation to raise above the previous target, Bitcoin got a small bump, then lost it all minutes later.

[dothebeats]

It is possible to happen, but it will take a really long while before it comes to realization. Current peak of this term/cycle suggests that we might see $100k on most predictions, and that’s being too hard on the factors already. The thing is, in order for the gears to start and the momentum to build-up, the world has to take its part for this to happen. We’re not talking about mere billions here but rather trillions, and where would the money come? Even with a huge assist from fake volumes and other illegal trading practices, we would still need a lot of money to push higher. It’s possible, yes, but current economic situation tells us that this is not yet the time for another ATH.