Forbes 2014 btc prediction

[BTC King]

What you guys think of this article ? http://www.forbes.com/sites/samanthasharf/2014/01/15/10-one-perspective-on-what-bitcoin-will-be-worth-in-2014/

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[bitebits]

What do you think?

[phillipsjk]

I am thinking of setting a price alert at $320 so I can buy up coins around $300.

I predicted in early November we would never see $300 again (but did not actually make a leveraged bet). I would hate to be wrong

Edit: this clued me in that the article is 3 months old:

I’m already ‘in print’ with a large wager challenge to Mr Williams that Bitcoin will be trading on MtGox closer to $1000 than $10 by 1st May 2014 – so far he hasnt had the “balls” to take up the challenge.

[jbrnt]

I think it is a fair review. "Majority if all coins are held by a small group of people" is very true indeed, and early adopters are become speculators 

What is worth noting is that the writer seems to believe bitcoin has a low chance of mass adoption and another crypto will replace bitcoin with all the flaws corrected.

[odolvlobo]

The article is worthless. It is based on a fallacy:

Just 47 people own 29% of all outstanding Bitcoins; 930 own 50%. Another 10,000 folks bring the total owned by the largest coin holders to roughly 75%, leaving a sliver to be split among about 1 million small-change Bitcoiners.

Addresses =/= people.

[aminorex]

I think it is a fair review. "Majority if all coins are held by a small group of people" is very true indeed, and early adopters are become speculators 

What is worth noting is that the writer seems to believe bitcoin has a low chance of mass adoption and another crypto will replace bitcoin with all the flaws corrected.

And if you want to buy that new watershed crypto while it is still cheap, you will be using....BTC.  Best to stock up on BTC while it is still cheap.

[BittersNVermouth]

Here Here! get them while they are cheap!

[sana8410]

What you guys think of this article ? http://www.forbes.com/sites/samanthasharf/2014/01/15/10-one-perspective-on-what-bitcoin-will-be-worth-in-2014/

This author knows nothing about Bitcoin. Bitcoin is a deflationary currency and can never be inflated. It’s amazing how people can get paid to write about a subject they know nothing about. Bitcoin is unique in that it is free from borders and government interference, and is already backed by immense distributed computing power that offers you a guarantee on the integrity of transactions.

[devphp]

This author knows nothing about Bitcoin. Bitcoin is a deflationary currency and can never be inflated.

It seems you have your definitions mixed up a bit.

Purely deflationary currency means its supply is frozen. Technically Bitcoin is inflationary, because new supply is constantly added to the market. If demand exceeds this supply, there can be periods of deflation, when prices drop, but this is deflation of goods priced in that currency. However monetary inflation of Bitcoin is still there, although it may not be visible. Here is a link for you: http://en.wikipedia.org/wiki/Monetary_inflation

Only Proof-of-Stake currencies can be considered deflationary in the strict meaning of this word, because their supply is fixed and not growing after genesis block.

Bitcoin will become deflationary when the last bitcoin has been mined into existance, but it's still a few years away.

[Lauda]

This author knows nothing about Bitcoin. Bitcoin is a deflationary currency and can never be inflated.

It seems you have your definitions mixed up a bit.

Purely deflationary currency means its supply is frozen. Technically Bitcoin is inflationary, because new supply is constantly added to the market. If demand exceeds this supply, there can be periods of deflation, when prices drop, but this is deflation of goods priced in that currency. However monetary inflation of Bitcoin is still there, although it may not be visible. Here is a link for you: http://en.wikipedia.org/wiki/Monetary_inflation

Only Proof-of-Stake currencies can be considered deflationary in the strict meaning of this word, because their supply is fixed and not growing after genesis block.

Bitcoin will become deflationary when the last bitcoin has been mined into existance, but it's still a few years away.

POS coins are deflationary?  You have no clue what you're talking about.
Here you go, read about a POS coin: http://en.wikipedia.org/wiki/Peercoin

[RodeoX]

Their 2011 prediction was that bitcoin can't work because it's not backed by anything. Why should I care about their guess now?

[Robin_Good]

I don't trust to predictions of Forbes!
Bitcoin is a complex system, whose development depends on many factors. IMO, Bitcoin is perspective

[devphp]

POS coins are deflationary?  You have no clue what you're talking about.
Here you go, read about a POS coin: http://en.wikipedia.org/wiki/Peercoin

[Siegfried]

POS coins are deflationary?  You have no clue what you're talking about.
Here you go, read about a POS coin: http://en.wikipedia.org/wiki/Peercoin

Is that a real human?

[DhaniBoy]

lol forbes
i see many interesting comment in that site
he knows nothing about BTC, and make statement like that
nobody believe that

[bitcoinboy163]

i think btc will reach the price at 5000 usd

[spring.yu]

Bitcoin is a complex system, whose development depends on many factors. IMO, Bitcoin is perspective

[Midwestbitcoiner]

i think btc will reach the price at 5000 usd

I think it is a long ride to 5k.  No doubt it gets there, but honestly, I do not see it in the next 2 years

[RCHumphrey]

i think btc will reach the price at 5000 usd

I think it is a long ride to 5k.  No doubt it gets there, but honestly, I do not see it in the next 2 years

I think by the end of July if there is no recovery you'd be correct but if it starts picking up and breaks the $1k barrier again who knows...

[hensi]

There's nothing much to think, forbes is generally correct