[2015-01-27] CNN Money: Winklevoss twins: Bitcoin will explode beyond $1 tr.

cr1776

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Quote from: 1Referee on January 29, 2015, 04:25:49 PM

Winklevoss twins don't seem to know the difference between reality and fantasy.

$1,000,000,000,000 / 21,000,000BTC = $47600 per coin.

At least it gives us something to lough Cheesy

People said the same thing when it was below $1/BTC. "$1000 per coin? lol. If it hits $10, I'd be shocked." Ditto internet domain names: "Why would those things be valuable?"

Whether it will happen or not, who knows, but there is definitely the potential here. The amount of investment in bitcoin startups the last 2 years shows how valuable people think the technology could be. And the people investing are not dumb, they are usually pretty shrewd. It reminds me of the internet in 1995 when there was some awareness (1993 and early 1994, less so - people didn't get it then).

Think about Apple - you could've bought a share for $2 in ~2004-2005. Now Apple is nearly a $1 trillion company. 10 years ago, people would've laughed at you for saying Apple might succeed.

So, don't be too quick to laugh, they could be right.

funtotry

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Just think. If the bitcoin market cap hits 1 trillion, anyone with more than a couple satoshis will be the rich in the world. Somone having 1000 btc at 47600 per coin would have 47 MILLION dollars, probably paying less than a quarter of a million for those coins (under 100$ for the early adopters)

1Referee

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Winklevoss twins don't seem to know the difference between reality and fantasy.

$1,000,000,000,000 / 21,000,000BTC = $47600 per coin.

At least it gives us something to lough Cheesy

LiteCoinGuy

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Quote from: bryant.coleman on January 28, 2015, 09:49:07 PM

Quote from: Ludi on January 27, 2015, 10:44:07 AM

Quote from: bryant.coleman on January 27, 2015, 10:26:15 AM

I don't wan't to be pessimistic... but a 250x rise in market cap? For me, this is lunacy. Angry

I admire their optimism and tenacity but speculations on the price like this always seem silly.

Right now, for me this seems to be just another attempt by the Winkelwii to shore up their assets. The market-cap of Visa is around $ 150 billion. And it took them many decades to reach there. For the next 10-20 years, I don't think BTC will overtake Visa in market-cap.

i would make a bet that we will reach 150 billion in 10 years Wink

(and i usually dont bet)

funtotry

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4$ to a thousand dollars. We've seen that before, so whats so different with it now?
For bitcoin to succeed the price must rise. The market cap right now is a fraction of some people's wealth, and some billionares don't have 10x more than the amount of cash.

Dabs

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BTC is different from Visa or MasterCard or Discover or American Express.

Those three are credit cards. They are debt. They are payment processors.

BTC is ... well, it's money... When you hold, you don't owe anyone and have to pay the bill in 30 days or something. You also don't have credit limits. And you don't need credit history to purchase, as long as you have the BTC that is needed.

It's cash, behind a cheque that takes an hour to clear. Put the amount, sign it, send.

2 seconds later, everyone sees the transaction. 10 seconds later, you know, more or less, with 90% certainty that the transaction will probably confirm. 10 minutes later, it is confirmed, but you don't really need to wait that long if all you are selling is a cup of coffee.

If the merchant is an online website that is going to send you some sort of tangible good, they can prep your package and mail it the same or next day, with more than enough time to see if your bitcoins are good or not within an hour or two.

bryant.coleman

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Quote from: Ludi on January 27, 2015, 10:44:07 AM

Quote from: bryant.coleman on January 27, 2015, 10:26:15 AM

I don't wan't to be pessimistic... but a 250x rise in market cap? For me, this is lunacy. Angry

I admire their optimism and tenacity but speculations on the price like this always seem silly.

Right now, for me this seems to be just another attempt by the Winkelwii to shore up their assets. The market-cap of Visa is around $ 150 billion. And it took them many decades to reach there. For the next 10-20 years, I don't think BTC will overtake Visa in market-cap.

freedomno1

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Quote from: qwk on January 27, 2015, 10:30:55 AM

Quote from: bryant.coleman on January 27, 2015, 10:26:15 AM

I don't wan't to be pessimistic... but a 250x rise in market cap? For me, this is lunacy. Angry

Ha-ha
It's not lunacy if you didn't insert a timeline on when it could be achieved

bitbouillion

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Worldwide money stock before the financial crisis was around 10 trillion in US dollars. In the long term 1 trln = 10% of that amount sounds not impossible.

BitCoinNutJob

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Quote from: pawel7777 on January 27, 2015, 11:41:58 AM

Quote from: bryant.coleman on January 27, 2015, 10:26:15 AM

http://money.cnn.com/2015/01/27/investing/bitcoin-winklevoss-twins-gold/

Quote

But the Internet entrepreneurs are taking it one step further. They believe Bitcoin could one day morph into a gold-like asset class -- or even surpass it. "If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap," Tyler Winklevoss told CNNMoney. "We do feel those are very real possibilities."

I don't wan't to be pessimistic... but a 250x rise in market cap? For me, this is lunacy. Angry

The key-word here is "if". They didn't say it will happen.

Not very likely, but it is possible.

I'd put it around 50/50 that we will see a very high market cap in 5 years or it will be dead.

pawel7777

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Quote from: bryant.coleman on January 27, 2015, 10:26:15 AM

http://money.cnn.com/2015/01/27/investing/bitcoin-winklevoss-twins-gold/

Quote

But the Internet entrepreneurs are taking it one step further. They believe Bitcoin could one day morph into a gold-like asset class -- or even surpass it. "If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap," Tyler Winklevoss told CNNMoney. "We do feel those are very real possibilities."

I don't wan't to be pessimistic... but a 250x rise in market cap? For me, this is lunacy. Angry

The key-word here is "if". They didn't say it will happen.

Not very likely, but it is possible.

BitCoinNutJob

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Quote from: bryant.coleman on January 27, 2015, 10:26:15 AM

http://money.cnn.com/2015/01/27/investing/bitcoin-winklevoss-twins-gold/

Quote

But the Internet entrepreneurs are taking it one step further. They believe Bitcoin could one day morph into a gold-like asset class -- or even surpass it. "If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap," Tyler Winklevoss told CNNMoney. "We do feel those are very real possibilities."

I don't wan't to be pessimistic... but a 250x rise in market cap? For me, this is lunacy. Angry

I dont wanna be optimistic but people thought it was madness when bitcoin was worth $1 and its 250x that now even with a year long bear market. I dont think anyone knows truly what the price could be. Could just be 1 bitcoin is worth 1 bitcoin with insane purchasing power.

LiteCoinGuy

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Quote from: bryant.coleman on January 27, 2015, 10:26:15 AM

http://money.cnn.com/2015/01/27/investing/bitcoin-winklevoss-twins-gold/

Quote

But the Internet entrepreneurs are taking it one step further. They believe Bitcoin could one day morph into a gold-like asset class -- or even surpass it. "If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap," Tyler Winklevoss told CNNMoney. "We do feel those are very real possibilities."

I don't wan't to be pessimistic... but a 250x rise in market cap? For me, this is lunacy. Angry

the same was true from $5 to $1000 Wink

when you do some math, a 400-500 billions market cap is not unrealistic if bitcoin succeeds.

https://www.youtube.com/watch?v=g2nXgK34HIM

Apple has a 600 billion market cap by the way... Cheesy

btcshiner

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Quote from: Ludi on January 27, 2015, 10:44:07 AM

Quote from: bryant.coleman on January 27, 2015, 10:26:15 AM

I don't wan't to be pessimistic... but a 250x rise in market cap? For me, this is lunacy. Angry

I admire their optimism and tenacity but speculations on the price like this always seem silly. However, if bitcoin did actually go full mainstream adoption like in an ideal scenario I think it could be worth trillions but I can't see this happening sadly.

I could see the total valuation of companies and infrastructure built around bitcoin reaching $400b but I am not sure btc itself will get there.

I did like the video that was above the article, I lived on btc for 24 hours.

Ludi

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Quote from: bryant.coleman on January 27, 2015, 10:26:15 AM

I don't wan't to be pessimistic... but a 250x rise in market cap? For me, this is lunacy. Angry

I admire their optimism and tenacity but speculations on the price like this always seem silly. However, if bitcoin did actually go full mainstream adoption like in an ideal scenario I think it could be worth trillions but I can't see this happening sadly.

the joint

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Quote from: bryant.coleman on January 27, 2015, 10:26:15 AM

http://money.cnn.com/2015/01/27/investing/bitcoin-winklevoss-twins-gold/

Quote

But the Internet entrepreneurs are taking it one step further. They believe Bitcoin could one day morph into a gold-like asset class -- or even surpass it. "If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap," Tyler Winklevoss told CNNMoney. "We do feel those are very real possibilities."

I don't wan't to be pessimistic... but a 250x rise in market cap? For me, this is lunacy. Angry

It really just depends how viable it turns out to be long-term. If BTC is "good enough" for most people, then it's really not lunacy at all. If hedge funds sink their teeth into the pie at some point, a >trillion-dollar market-cap is hardly unrealistic. Then again, I've been around since 2011, so I've seen that type of growth (surely BTC's current position would have been considered "lunacy" back then, and it was).

qwk

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Quote from: bryant.coleman on January 27, 2015, 10:26:15 AM

I don't wan't to be pessimistic... but a 250x rise in market cap? For me, this is lunacy. Angry

bryant.coleman

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http://money.cnn.com/2015/01/27/investing/bitcoin-winklevoss-twins-gold/

Quote

But the Internet entrepreneurs are taking it one step further. They believe Bitcoin could one day morph into a gold-like asset class -- or even surpass it. "If Bitcoin is a better gold or seen as a type of gold-like asset, then it could be in the trillions on a market cap," Tyler Winklevoss told CNNMoney. "We do feel those are very real possibilities."

I don't wan't to be pessimistic... but a 250x rise in market cap? For me, this is lunacy. Angry

Topic: [2015-01-27] CNN Money: Winklevoss twins: Bitcoin will explode beyond $1 tr. (Read 1736 times)