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Author Topic: Forbes 2014 btc prediction  (Read 2663 times)
Bitcopia
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May 19, 2014, 02:53:58 PM
 #21

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

Yup, especially when they predicted Bitcoin would fail in 2011 because it wasn't backed by anything.  Roll Eyes

Making the assumption that something is worthless because it isn't backed by anything is ridiculous. What is Apple backed by? Facebook? Pay Pal? Bank of America? my laptop? your car? They are backed by nothing other than the people who work for them and believe in them, but they all have value because they all provide or are useful services or tools. Bitcoin is a useful service and tool. It truly blows my mind how some "prominent" economists don't understand this. Maybe they're failing to understand the speculation aspect of Bitcoin as investment in Bitcoin more as a distributed autonomous corporation than as a currency. It's more likely they can't fathom the idea of a DAC in the first place because their institutions of higher education never spoke of such a thing and their careers never inspired much creative thought.

Forbes also has a vast number of contributing authors. Jon Matonis used to contribute to Forbes. They have articles on both sides of the fence about Bitcoin, because they don't have a stance. They just publish whatever they think people will read.
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IIOII
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May 19, 2014, 04:52:23 PM
 #22

Big surprise: Former FED employee bearish on bitcoin. Cheesy

The article cites conspiracy claims of Williams ("47 powers coordinated to push prices up"). Not a single proof is given to support these claims. Nonetheless they are portrayed as facts ("As these facts and questions enter the wider consciousness, ....").

Ridiculous propaganda.
Unluckyduck
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May 20, 2014, 07:12:19 AM
 #23

Ahh is this good old professor bitcorn?  Roll Eyes
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May 20, 2014, 12:34:18 PM
 #24

What forbes fails to see is that bitcoin does not depend on previous transactions to calculate cost.
It is simply what people are willing to pay for them.

Maybe they are right about these "power players", maybe even some are amongst this community   Wink
... but nonetheless, regardless of the quantity they flood the market with, as long as there is still demand, there is still price.

Forbes is banking on the fact that these BTC entrepreneurs are going to sell their BitCoin... If someone is smart *or lucky* enough to be sitting on a hoard of BTC, do you really think they would be stupid enough to sell all their BTC at once?  Roll Eyes

BitCoin is only on the rise, hold on tight... Dont let go  Cool
skaffen
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May 20, 2014, 01:27:48 PM
 #25

That article is from January.  Something would have to go drastically wrong for the price to hit the $10 mark predicted in it.

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May 20, 2014, 04:05:43 PM
 #26

It's nothing bad that bitcoin is open source, It shows generally for everyone that bitcoin Is strong, there are a lot of ALTs but Bitcoin  Is leading without any competitors. And I don't see bitcoin going to $10 in anyway.
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May 20, 2014, 06:55:36 PM
 #27

Here's another thread discussing that article: https://bitcointalk.org/index.php?topic=378368.0

Here is what i think of Mark Williams:
https://bitcointalk.org/index.php?topic=378368.msg6085846#msg6085846


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