Forbes Article Predicts Bitcoin Value will "Explode"

[ajareselde]

It already has 'exploded', but I'm sure we'll see another explosion soon enough. I think bitcoin will grow to where demand outstrips the supply and that should see some explosive growth.

bitcoin has indeed exploded multiple times, and i also agree that we will see another boom, hopefully with slower growth and more stability.
true outbreak would happen if bitcoin had more positive publicity, and not just bad ones.

[Mrrr]

3 things:

1: The Satoshi Million(s)
2: The uncanny mining industry
3: The uncanny Bitcoin industry

Crypto is indeed the future. But Bitcoin has issues that are big enough, IMHO, to make even a 7 billion USD valuation a bit bullish.

This, of course, won't stop the Wall Street guys from moving in and emptying the pockets of unsuspecting investors. By no means.

I'm used to living in a world run by bankers with no sense of ethics whatsoever. And I know how to keep my own world habitable.

Now your yelling for a 10.000$ bitcoin. And a transfer of power into the hands of people that are even more uncanny than our current overlords

[Harley997]

The problem with exploding prices is that volatility inhibits usage as people are scared to go in or spend. But increased usage would make the price explode. Not sure how this can be tackled.

Agreed. I can't see Bitcoin going fully mainstream until the price has stabled out. Any guesses on how long that may take?

But with mainstream acceptance, naturally loads more people will be acquiring BTC.  So I would think that would cause value to rise.  Then once acceptance has grown to a large enough level, I imagine the price would stabilize.

in that case, it would be considered more of a speculative asset than an actually useful currency. and that's why i think it'll never be a currency, and if it does become one, it won't be for a long, long time.

Even today bitcoin does have some characteristics of a currency. It is lacking being a store of value as it's price is volatile however the price volatility has subsided this year and hopefully the price will be mores stable in the future.

It is something in between the currency and speculative asset. So, the "kind of" regulation might have positive impact on the price stability of bitcoin. But is the price stability what the bitcoin holders are expecting today? I am not sure..

Price stability is ultimately what it needs to prosper. I would def say that bitcoin is closer to a speculative asset then a currency

[Watermelondea]

The problem with exploding prices is that volatility inhibits usage as people are scared to go in or spend. But increased usage would make the price explode. Not sure how this can be tackled.

Agreed. I can't see Bitcoin going fully mainstream until the price has stabled out. Any guesses on how long that may take?

But with mainstream acceptance, naturally loads more people will be acquiring BTC.  So I would think that would cause value to rise.  Then once acceptance has grown to a large enough level, I imagine the price would stabilize.

in that case, it would be considered more of a speculative asset than an actually useful currency. and that's why i think it'll never be a currency, and if it does become one, it won't be for a long, long time.

Even today bitcoin does have some characteristics of a currency. It is lacking being a store of value as it's price is volatile however the price volatility has subsided this year and hopefully the price will be mores stable in the future.

It is something in between the currency and speculative asset. So, the "kind of" regulation might have positive impact on the price stability of bitcoin. But is the price stability what the bitcoin holders are expecting today? I am not sure..

Price stability is ultimately what it needs to prosper. I would def say that bitcoin is closer to a speculative asset then a currency

It stands somewhere in between. But i think i will be moving to the "currency" side.

[Beliathon]

Price stability is ultimately what it needs to prosper. I would def say that bitcoin is closer to a speculative asset then a currency

Bitcoin already has utility and fungibility. To prosper, the only thing necessary is time. The world needs Bitcoin much more than Bitcoin needs the world [read: global adoption].

[factor280]

It already has 'exploded', but I'm sure we'll see another explosion soon enough. I think bitcoin will grow to where demand outstrips the supply and that should see some explosive growth.

Yes, especially once a 100% legit US base exchange (potentially this is where the wall st money will go) is opened.  That will help people obtain BTC and start using it day to day.  The limited nature of BTC will also help drive the value up.

A US Based exchange is pending the government somehow making a profit out of bitcoin right? Otherwise I just dont see it happening.

[Harley997]

The problem with exploding prices is that volatility inhibits usage as people are scared to go in or spend. But increased usage would make the price explode. Not sure how this can be tackled.

Agreed. I can't see Bitcoin going fully mainstream until the price has stabled out. Any guesses on how long that may take?

But with mainstream acceptance, naturally loads more people will be acquiring BTC.  So I would think that would cause value to rise.  Then once acceptance has grown to a large enough level, I imagine the price would stabilize.

in that case, it would be considered more of a speculative asset than an actually useful currency. and that's why i think it'll never be a currency, and if it does become one, it won't be for a long, long time.

Even today bitcoin does have some characteristics of a currency. It is lacking being a store of value as it's price is volatile however the price volatility has subsided this year and hopefully the price will be mores stable in the future.

It is something in between the currency and speculative asset. So, the "kind of" regulation might have positive impact on the price stability of bitcoin. But is the price stability what the bitcoin holders are expecting today? I am not sure..

Price stability is ultimately what it needs to prosper. I would def say that bitcoin is closer to a speculative asset then a currency

It stands somewhere in between. But i think i will be moving to the "currency" side.

It is defiantly moving in that direction, it is just not there yet. The concern is that a lot can happen before it gets to that point and a lot needs to happen for it to get to the point of it being a currency

[Velkro]

Yes. I think some senior-level bright-spark at Forbes loaded up large and has been quietly keeping the in-house view bullish.

touche
sometimes there are insane theories why such article now... thats true reason probably

[nahtnam]

He never said it would explode. It said:

...bitcoin becomes a major player in the global economy...

[NEM minnow]

Forbes is always so pro bitcoin.  I think the editors own a lot. 

But for every editor of every newspaper that invests and then publishes, bitcoin will grow.

[cyberpinoy]

This, of course, won't stop the Wall Street guys from moving in and emptying the pockets of unsuspecting investors. By no means.

I'm used to living in a world run by bankers with no sense of ethics whatsoever. And I know how to keep my own world habitable.

The wallstreet boys and big banks hate bitcoins right now. Because their usual unethical schemes will not work or move this market, And they are so behind now they would stand to lose more than they would gain by using their normal business practices they use in the stock market and Forex. I love bitcoins because unless they are already sitting on a crap load of coins, which is very doubtfull, they wont be able to get in at a cheap price, and their normal tactics will have an opposite effect on their normal business strategy. I hope they are stupid enough to play the game they think they are good at, i hope they use their exact strategy they use in Stocks and Forex, and they will be the ones going broke while we are all climbing our way to the top. The reason people, like Forbes, are forecasting this bitcoin explosion, Is because places like them know how these big banks work, understand mindsets of wallstreet boys. In Addition a lot of others have researched bitcoins and big bank investments, and if you know just a little about both you will know it will be the big banks and high dollar investors that would most likely push its value up and over 10K per coin, on accident tho. Unfortunately for them they are not and will not  be the big fish in this sea of bitcoins, it will be the big miners out there, pools like Ghash and other large funded Bitcoin investments. The big banks and high dollar investors will only secure our future and be the pawns on our chessboard for a change.

[logger]

General public did get scared of stupid ghash http://imgur.com/lpuGJpk

[CoolBliss]

I wish he would explain how Wall Street plans to monopolize on BitCoin since it is inherently decentralized.
It was invented to work without banks.

[mamarried]

General public did get scared of stupid ghash http://imgur.com/lpuGJpk

So ironic how the new technology must be better then the old in every way. Almost no cost to send any amount anywhere in the world, but we MAY (emphasis on MAY because it is very unlikely bitcoin will ever require any trust) have to trust someone ... Im out. Meanwhile, every investment the average person has requires trusting a centralized system but they don't think twice about it.

[devphp]

Large investors didn't acquire their wealth by being stupid.

There are two major groups among them:
a) those that don't understand cryptos and won't invest in them because they don't invest into something they don't understand;
and
b) those that understand and have researched and come to the conclusion that Bitcoin is unsustainable with a number of flaws which nobody seemingly is going to patch or which are impossible to patch, and that it's just the first crypto that will pave the way for others, hence it makes sense to diversify into undervalued competitors in anticipation of the next big thing.

Once their vision is becoming more clear about this next big thing, they invest. Some will get burned because they invested into something unsustainable. It's the natural law - survival of the fittest.

As for banks, they will never get approval from central banks to invest into cryptos, because cryptos is their direct enemy. It would be like signing your own death sentence. Bankers can act as individual investors (but see the previous paragraphs on how those act).

[crazy_rabbit]

I wish he would explain how Wall Street plans to monopolize on BitCoin since it is inherently decentralized.
It was invented to work without banks.

Anything can be monopolized and centralized with help from the government.

[Beliathon]

I wish he would explain how Wall Street plans to monopolize on BitCoin since it is inherently decentralized.
It was invented to work without banks.

Anything can be monopolized and centralized with help from the government.

Except porno!

[Nerazzura]

This article gives a very concise, but accurate history of bitcoin, and what is going on with it right now.  I definitely agree that it is currently on track to start lowering debit/credit card/cash use by large amounts.  Also I have seen coinbase now allowing merchants who go through them have the option to give bitcoin paying customers a % discount on their puchases, giving an incentive for people to pay with BTC.  This I think could really start getting people interested.

Anyway, I think hes right about the "venture capital" phase being just about complete, allowing the "wall street" phase to begin this fall/winter.  It is interesting times coming in the near future no doubt!

http://www.forbes.com/sites/peterdiamandis/2014/06/23/my-insights-on-bitcoin-going-from-deceptive-to-disruptive/

The current popularity of Bitcoin really half uphill. No doubt if some technology companies that reside in Silicon valley became interested in using Bitcoin. In fact, many financial experts argue that Bitcoin could become a means of payment cyberspace. However, fluctuations in the price of Bitcoin makes menjadikurang safe current for long janga investment. At the beginning of this year the price of Bitcoin reached USD 13.
However, as quoted from Forex Ticket, the currency associated with the name Satoshi Nakamoto is known as the inventor is not a legal entity. That is, the government is not accountable for a variety of other transactions.

[gbooz]

I may also to "explode", like a bubble. Bitcoin has a very limited connection with the real economy. And therefore its value today is based on expectations only.

[Vintage]

I see the price of bitcoin is already rising. I hope it does explode but the question is if it does can it stay there?