"Bitcoin Will Go To A Million Dollars"

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dnb21

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[ame=http://www.youtube.com/watch?v=Pz_j2su9Ehc]Jeff Berwick on the Angel Clark Show: Bitcoin will go to a million dollars! - YouTube[/ame]

When you consider what's coming in the next couple of years, it's a pretty safe bet to say that bitcoin will inevitably shoot up really high when people start scrambling to protect their assets against the capital controls and currency devaluation that's starting to slowly creep up.

Honestly I don't know much about bitcoin but this vid raises some interesting points. Buying now could, especially if it dips again before it shoots up really high, produce some serious returns. Maybe even more and faster than gold will? It's def more accessible than gold for smaller to medium investment budgets. Jeff Berwick knows his shit but I don't know enough about this stuff to know whether it actually has a chance of going to a million dollars per bit.

If that is the case, it's a good idea to hop on that train soon. Maybe you have to factor in how devalued those million dollars will be by then? Buy one or two just in case lol, won't hurt to have a couple million dollars for a small investment right now if what Jeff is saying is true. Anybody have or plan to put a lot of money in bitcoin? You could never have to work again off that single investment if the dollar isn't monopoly money by then. Very low risk investment considering the crash is inevitable and people will surely look for other ways of protecting their money outside of gold. International wire transfers will be completely illegal probably by then too. The price will rise meteorically bar some other kind of digital currency overtaking it or the government succeeding at controlling it. Anybody else excited for this lol? Such dramatic market shifts can produce small fortunes for the people that stay on the right side of them.
 


Jeff Berwick is a very good marketer (the anarchist version of Peter Schiff). He's also wrong a lot.

I have no doubt Bitcoin will go higher. It will go parabolic at one point. It's not money, it's a speculative instrument.
 
dnb21 said:
Honestly I don't know much about bitcoin but this vid raises some interesting points.
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dnb21 said:
When you consider what's coming in the next couple of years, it's a pretty safe bet to say that bitcoin will inevitably shoot up really high when people start scrambling to protect their assets against the capital controls and currency devaluation that's starting to slowly creep up.
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Sounds like you know enough to be dangerous to yourself, and maybe relatives, or random message board readers.
 
User9364 said:
Sounds like you know enough to be dangerous to yourself, and maybe relatives, or random message board readers.
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Lol come on bro, dont condescend me. It's not rocket science, bitcoin is worth x amount of dollars and may or may not be worth more later. When a guy like Jeff Berwick throws some shit out like that and it isn't attached to an ebook or course on buying bitcoin, he doesn't really have any economic interest in making exaggerated claims. All the evidence I need to take what he is saying seriously is that the guy has started many profitable businesses and successful investments all over the place. These trends having to do with currency devaluation and capital controls aren't speculation, they are happening right now. Nobody is going to read this post and immediately put their all their savings into bitcoin. It's worth bringing up if bitcoin has a chance of going even 1/100th of what he is saying it will.

@guerilla
You've probably been following him longer than I have lol I'll keep that in mind. I don't get the sense that he is a good marketer, maybe a good capitalist.
 
bitcoin-tattoo-3.jpg
 
dnb21 said:
Lol come on bro, dont condescend me. It's not rocket science, bitcoin is worth x amount of dollars and may or may not be worth more later. When a guy like Jeff Berwick throws some shit out like that and it isn't attached to an ebook or course on buying bitcoin, he doesn't really have any economic interest in making exaggerated claims. All the evidence I need to take what he is saying seriously is that the guy has started many profitable businesses and successful investments all over the place. These trends having to do with currency devaluation and capital controls aren't speculation, they are happening right now. Nobody is going to read this post and immediately put their all their savings into bitcoin. It's worth bringing up if bitcoin has a chance of going even 1/100th of what he is saying it will.

@guerilla
You've probably been following him longer than I have lol I'll keep that in mind. I don't get the sense that he is a good marketer, maybe a good capitalist.
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He could just own a bunch of bitcoin. Whenever I hear people saying something completely conditional will happen I get flashbacks to my days playing pump & dumps on the OTC market. Ah, the good old days.
 
more likely that the dollar will devalue to 1/1000000th of a bitcoin
 
As long as people use a currency, it will be valuable. Cryptocurrency is definitely something that will be around to stay as it is inherently more trustworthy than any fiat currency. Whether Bitcoin will be the currency of the future that is worth a bazillion dollars or not is unknown.
 
Check out the unofficial bitcoin scoreboard if you're interested in how much bitcoin will be worth someday:

Coinometrics

Those stats are updated in real time. WU is next, but paypal is also a near-term target.


dnb21 said:
Buying now could, especially if it dips again before it shoots up really high, produce some serious returns. Maybe even more and faster than gold will?
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Lol... Gold? How dare you compare bitcoin to that worthless relic.

Bitcoin obliterates every last reason that gold became worthwhile in the first place. (Excepting only divisibility; that's a tie.)

[ame=http://www.youtube.com/watch?v=_4QFErOdTag]Bitcoin 101 Blackboard - Bitcoin Vs. Gold - How Bitcoin Could Take Over a Trillion $ Market - YouTube[/ame]

Gold was ideal for thousands of years as a unit of exchange. It simply is not ideal anymore, and frankly it absolutely SUCKS as a unit of exchange now, since it's easier to counterfiet now with tungsten, it's not as scarce as it used to be, and governments love stealing it from us, which they do with impunity more and more often.

The Chinese already see the writing on the wall. The founder of BTC China says that all the new volume over there can be attributed to the Chinese love for gold slowing changing into a love for bitcoin.


dnb21 said:
It's def more accessible than gold for smaller to medium investment budgets. Jeff Berwick knows his shit but I don't know enough about this stuff to know whether it actually has a chance of going to a million dollars per bit.
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I like Jeff. He's one of my facebook friends and we share a very common outlook on life. He can be uncareful sometimes, like when he jumped aboard the bitcoinATM "launch" in April before understanding the problems with bitcoin use in the USA. That made him look kinda foolish when he jumped ship upon learning how much the ATM regulations required for a money transmitter license.

...So from that alone he should work hard to distance himself from bitcoin. Yet he doesn't. I wonder why?

Also, there's the Galt's Gulch Chile thing. He makes money if people flee the US and buy his villas down there, right? Then why would he be encouraging everyone to switch to a currency that could allow them to stay in the US comfortably?

Clearly he follows it closely and believes in it's role in freedom; As if that wasn't obvious from watching the video in the OP.


dnb21 said:
Anybody have or plan to put a lot of money in bitcoin?
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Many here have that plan... But no one here seems to believe that the price is low enough yet, and they sadly wait for the next big dip to buy, as long as the news that made the dip doesn't scare them off too.

The thing is though, if the price goes to a million, then $400 a bitcoin is 2,500x your money... And they all are risking the loss of this opportunity in hopes to grab another $99 bitcoin, erroneously thinking that $400-$500 is the ceiling, where they'd likely cash out again, making that $99 investment a shot at only 4x-5x their money! How pathetic.

Hold longterm; but be prepared to spend some too as it becomes more widely accepted.



shindig said:
inb4 lukep masturbates to the thought of a bazillion dollars.
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Dollars? How insulting... Really, DOLLARS?

Simply barbaric.


guerilla said:
I have no doubt Bitcoin will go higher. It will go parabolic at one point. It's not money, it's a speculative instrument.
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It has gone parabolic twice now, and each time it remained higher than before the news that made it go parabolic.

This rise isn't parabolic, it's flat now in fact, around 3,000 Yuan.

If some sweet news comes out that pushes it up again, sure, it could go parabolic to 10,000 Yuan, but then it's just going to come down to something like 5000... Until the next good news that will send it parabolic again to 50,000 Yuan.

Even a toddler could spot this trend. Your unfounded belief that BTC can't become money one day is stopping you from seeing the obvious.


contract said:
$348 for 1 jeez...
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CHEAP!


AdamC said:
more likely that the dollar will devalue to 1/1000000th of a bitcoin
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That will certainly happen too... But not as fast as it's price just naturally rises due to being more widely accepted and therefore useful.

From now on I plan to just talk about bitcoin's value in relation to the Yuan, which won't be collapsing any day soon like the dollar, Euro, and Yen all certainly will be.
 
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