Bank of America covers Bitcoin - 1300$ fair price, potential for growth - page 3.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: mccoyspace on December 05, 2013, 10:28:24 AM

Maybe this is the emerging consensus by the powers that be: bitcoin is new kind of commodity.
That's the box that they will stuff it into.

True, and if bitcoin is a new kind of commodity- there are going to be all sorts of new ways to make money off it.

Also it's pretty interesting they say $1300 is fair price. Kind of gives an indication that maybe bitcoin is right where it ought to be for the moment.

Herp

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This is a HUGE turning point for BTC.

Big banks finally starting to realize this is something they can't fight but have to accept. Be part of it or be left behind.

Big turning point and game changer.

dego

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Quote from: porcupine87 on December 05, 2013, 10:27:04 AM

Is Bank of America not a one of the big four? That is more interesting than such free adds from some unknown companies...

You can imagine, that all the others also look very closely to Bitcoin... and you can bet that they won't wait for long if they have any indication that its possible to make $$$ with BTC.

porcupine87

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hm

Quote from: Dr Bloggood on December 05, 2013, 10:22:41 AM

Interesting. Very positive for BTC. But strange on several levels:

1. Why are they doing this? BTC is competition, how should they get their piece of the cake?

Maybe the bank thinks: We will lose anyway. The only change to stay alive is to use Bitcoin. Imagine, you can store your bitcoins on a server of a multi-billion-company. I would do that!

mccoyspace

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Maybe this is the emerging consensus by the powers that be: bitcoin is new kind of commodity.
That's the box that they will stuff it into.

porcupine87

hero member

Activity: 546

Merit: 500

hm

Quote from: dego on December 05, 2013, 10:10:19 AM

Quote

“We believe Bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers,” wrote Bank of America currency strategist David Woo in a 14-page note to clients this morning. “As a medium of exchange, Bitcoin has clear potential for growth, in our view.”

See:
http://www.businessinsider.com.au/baml-initiates-coverage-on-bitcoin-2013-12

Is Bank of America not a one of the big four? That is more interesting than such free adds from some unknown companies...

dego

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Quote from: Dr Bloggood on December 05, 2013, 10:22:41 AM

Interesting. Very positive for BTC. But strange on several levels:

1. Why are they doing this? BTC is competition, how should they get their piece of the cake?

2. Store of value close to silver? Lol, with all respect due to BTC, silver has been around for a couple of 1000 years...

3. Where does this number of 1300$ come from? My guess: They totally pulled it out of their asses... when you look at number of people, money supply, total available gold, etc, etc, that number is MUCH higher...

1. If they can rip you off when you trade silver with them, they will know how to rip you off while trading Bitcoins with them

2. But it actually is a store of value, even if it becomes worthless and its also volatile as silver

3. Yes, pulled out of their asses, as they do with all the other commodities, stocks etc.

Dr Bloggood

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Interesting. Very positive for BTC. But strange on several levels:

1. Why are they doing this? BTC is competition, how should they get their piece of the cake?

2. Store of value close to silver? Lol, with all respect due to BTC, silver has been around for a couple of 1000 years...

3. Where does this number of 1300$ come from? My guess: They totally pulled it out of their asses... when you look at number of people, money supply, total available gold, etc, etc, that number is MUCH higher...

dego

sr. member

Activity: 399

Merit: 250

Quote

“We believe Bitcoin can become a major means of payment for e-commerce and may emerge as a serious competitor to traditional money transfer providers,” wrote Bank of America currency strategist David Woo in a 14-page note to clients this morning. “As a medium of exchange, Bitcoin has clear potential for growth, in our view.”

See:
http://www.businessinsider.com.au/baml-initiates-coverage-on-bitcoin-2013-12

Topic: Bank of America covers Bitcoin - 1300$ fair price, potential for growth - page 3. (Read 7643 times)