Topic: [2016-04-22] CD: Ex-JPMorgan Trader Explains Why $440 Bitcoin Price is Too Low (Read 462 times)
April 23, 2016, 02:38:00 AM
Of course, a director of a bitcoin-related hedge fund would say that... But aside from the possible conflict of interest, the points made here aren't that great. Bitcoin's price is moved by nothing other than speculative market forces. You can't really apply the demand vs supply principle on bitcoin in the way that you would with other assets since there are close to no regulations in it's market and it's moved by nothing else other than pure speculation.
April 23, 2016, 12:52:48 AM
Good points and from a reputable source. I wish he would have given a ballpark of what he thinks the price should be now.
If we extend his argument of the dollars flowing into bitcoins equalling the new supply entering the market, the price should double. It may not do so immediately, but over a period of time.
April 22, 2016, 12:33:05 PM
Good points and from a reputable source. I wish he would have given a ballpark of what he thinks the price should be now.
April 22, 2016, 09:38:23 AM
Ex-JPMorgan Trader Explains Why $440 Bitcoin Price is Too Low
There was a lunar eclipse, the second that year, and it was the first day since 1990 that the NYPD reported that no one was shot, stabbed or slashed in New York. There wasn’t much to report. And while journalists around the world searched for a scoop, one small story went uncovered – the reward for mining a block on the bitcoin blockchain had just halved.
Commencing in 9th January, 2009 when the bitcoin blockchain initiated, each and every one of the 209,999 blocks mined – created at a rate of approximately one every 10 minutes, in an uninterrupted 24/7 operation – had attracted a new, autonomous creation by the network itself of 50 new, never before seen, bitcoin.
http://www.coindesk.com/daniel-masters-440-bitcoin-price/
There was a lunar eclipse, the second that year, and it was the first day since 1990 that the NYPD reported that no one was shot, stabbed or slashed in New York. There wasn’t much to report. And while journalists around the world searched for a scoop, one small story went uncovered – the reward for mining a block on the bitcoin blockchain had just halved.
Commencing in 9th January, 2009 when the bitcoin blockchain initiated, each and every one of the 209,999 blocks mined – created at a rate of approximately one every 10 minutes, in an uninterrupted 24/7 operation – had attracted a new, autonomous creation by the network itself of 50 new, never before seen, bitcoin.
http://www.coindesk.com/daniel-masters-440-bitcoin-price/
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