I agree in the sense that I also believe that in 2014 the price will be below 10 dollars.
Then bet on it! You damn troll! Put your money where your mouth is!Dont harass other members.
Topic: Bitcoin will plummet to $10 by first half of 2014 - page 27. (Read 50126 times)
Dont harass other members.
i'll bet up to 1000 btc that this does not happen, and i'll give 2:1 odds, all you gotta do is put up 500 btc!!
I agree in the sense that I also believe that in 2014 the price will be below 10 dollars.
Then bet on it! You damn troll! Put your money where your mouth is!This should be interesting. You've been challenged. Hope your not going to weasel out of it porc.
$10
lawl
I'd bet him 1 BTC that doesn't happen.
lawl
I'd bet him 1 BTC that doesn't happen.
to make it as low as $10 it would have to be forbidden in 90% of the world.
I agree in the sense that I also believe that in 2014 the price will be below 10 dollars.
Then bet on it! You damn troll! Put your money where your mouth is!
I agree in the sense that I also believe that in 2014 the price will be below 10 dollars.
Well hello dere http://bitbet.us/bet/672/btc-will-hit-1000-without-dropping-to-100/ (bet no and make me rich)
Around $300 should be the low:
http://www.forbes.com/sites/jessecolombo/2013/12/19/bitcoin-may-be-following-this-classic-bubble-stages-chart/
http://www.forbes.com/sites/jessecolombo/2013/12/19/bitcoin-may-be-following-this-classic-bubble-stages-chart/
Cool, except before China entered the scene, bitcoins were already near ~$200.
And there are hundreds more businesses that accept bitcoins now, than before, and will be even more in the future.
And there are hundreds more businesses that accept bitcoins now, than before, and will be even more in the future.
Good. Gives us late entrants another shot.
Exactly. Even if Bitcoin were to reach $100 instead of $10, the amount of buyers would be staggering enough to keep Bitcoin valuable.
Besides, for 2014, if there is any progression in Bitcoin acceptance with businesses, it'll continue to rise (or at least stay stagnant and not drop).
The meat of his argument is extremely off base and based on merchants not willing to accept btc due to its price volatility and as a result would lose its value because of this, ah hello sir theres already a processor who handles this called Bitpay so that makes that part of your argument null and void. For someone with such an extensive background its ashame no extensive research was done on the subject matter he's talking about.
If he were a seer he'd be retired, not an academic. "Those who can't do, teach."
If it turns out to be true there will be a lot of buyers, so it seems unlikely to be true.
If it turns out to be true there will be a lot of buyers, so it seems unlikely to be true.
Good. Gives us late entrants another shot.
by Victor Kerezov
Mark Williams, a risk management and capital markets professor at Boston University, is out with a bold call – he predicts that the price of one bitcoin will crash to $10 or even lower by the first half of 2014.
Williams is a risk management practitioner and academic with tw-decades of experience from working as a bank examiner at the US Federal Reserve to a commodities trading floor senior executive.
The finance professor observes that the buying and selling of the digital currency is “controlled by only a handful of exchanges in places like China, Slovenia and Bulgaria.” Exchange bankruptcies are not uncommon for the roller-coaster bitcoin market. In addition, the exchanges are based on a peer-to-peer model and regulation is virtually absent.
Bitcoin “has not been bear-market tested and if enough sellers try to run for the door it is not clear that existing infrastructure is capable of executing trade orders without significant time delays and price risk,” clarifies the former commodities trader.
Some bitcoin aficionados claim that the digital currency would replace the US dollar as the new global reserve currency, while others believe the digital form of money would provide a cheaper alternative to expensive payment platforms such as Western Union. “Adding more helium to the story, the Winklevoss twins of Facebook fame, not being shy about talking up their own book, predicted prices would rise to a staggering $40,000 per coin”, notes Williams
At the start of this month, bitcoin peaked at over $1,200 as “e-currency evangelists trumpeted the endless possibilities to be unleashed”. However, the price more than halved since then as the ‘Chinese regulatory pin’ burst the hyper bubble. In the view of the risk management expert, “the market has finally realized that hype alone cannot support lofty prices”.
Mark Williams then goes on to say that every asset bubble has three phases: “growth, maturity and pop”. He believes that 2013 was the maturity stage and we are now entering the time when the bubble pops. “Ironically, China, the second largest economy in the world, helped push Bitcoin prices to the clouds and now is pulling prices back to earth,” observes the former Fed bank examiner. In the last two weeks, the People’s Bank of China banned local banks from accepting the digital currency and then forbade third-party firms from transacting with bitcoin exchanges. In between the two announcement, Baidu, China’s Google equivalent, announced it would no longer accept bitcoins. Other major central banks and banking watch-dogs have taken a similar position like the PBoC, warning against the risks of the e-currency.
Williams then goes to proclaim that “if bitcoin was allowed to proliferate as a currency it would produce greater economic uncertainty, reduced trade and lower individual standard of living.” Retailers typically work on tight margins and the immense volatility of the e-currency could eliminate all their profit or even result in losses. In this bitcoin world of uncertainty and risk, commerce would ultimately decline and stone-age bartering would increase. “Naturally, as bitcoin price swings increased, the number of businesses willing to accept e-currency risk would decline”, assumes the former commodities trader.
“Bitcoin is not a legitimate currency but simply a risky virtual commodity bet”, argues the academic at Boston University. Even Winklevii’s call that it is a commodity currency may be unfounded because the wannabe currency does not have a tangible value like gold, which is a widely accepted alternative form of money.
Bitcoin is just backed by dreams and it is “only worth what people are willing to pay”, opines the former Fed bank examiner. “As it becomes increasingly evident that Bitcoin will not be the global currency standard, but simply a novel idea that will be improved upon by more nimble competitors such as Litecoin, restrictions and new regulations will be imposed and prices will plummet.”
“I predict that Bitcoin will trade for under $10 a share by the first half of 2014, single digit pricing reflecting its option value as a pure commodity play”, concludes Mark Williams.
http://invezz.com/news/forex/7726-bitcoin-usd-will-plummet-to-dollar-10-by-first-half-of-2014-predicts-risk-management-expert
Mark Williams, a risk management and capital markets professor at Boston University, is out with a bold call – he predicts that the price of one bitcoin will crash to $10 or even lower by the first half of 2014.
Williams is a risk management practitioner and academic with tw-decades of experience from working as a bank examiner at the US Federal Reserve to a commodities trading floor senior executive.
The finance professor observes that the buying and selling of the digital currency is “controlled by only a handful of exchanges in places like China, Slovenia and Bulgaria.” Exchange bankruptcies are not uncommon for the roller-coaster bitcoin market. In addition, the exchanges are based on a peer-to-peer model and regulation is virtually absent.
Bitcoin “has not been bear-market tested and if enough sellers try to run for the door it is not clear that existing infrastructure is capable of executing trade orders without significant time delays and price risk,” clarifies the former commodities trader.
Some bitcoin aficionados claim that the digital currency would replace the US dollar as the new global reserve currency, while others believe the digital form of money would provide a cheaper alternative to expensive payment platforms such as Western Union. “Adding more helium to the story, the Winklevoss twins of Facebook fame, not being shy about talking up their own book, predicted prices would rise to a staggering $40,000 per coin”, notes Williams
At the start of this month, bitcoin peaked at over $1,200 as “e-currency evangelists trumpeted the endless possibilities to be unleashed”. However, the price more than halved since then as the ‘Chinese regulatory pin’ burst the hyper bubble. In the view of the risk management expert, “the market has finally realized that hype alone cannot support lofty prices”.
Mark Williams then goes on to say that every asset bubble has three phases: “growth, maturity and pop”. He believes that 2013 was the maturity stage and we are now entering the time when the bubble pops. “Ironically, China, the second largest economy in the world, helped push Bitcoin prices to the clouds and now is pulling prices back to earth,” observes the former Fed bank examiner. In the last two weeks, the People’s Bank of China banned local banks from accepting the digital currency and then forbade third-party firms from transacting with bitcoin exchanges. In between the two announcement, Baidu, China’s Google equivalent, announced it would no longer accept bitcoins. Other major central banks and banking watch-dogs have taken a similar position like the PBoC, warning against the risks of the e-currency.
Williams then goes to proclaim that “if bitcoin was allowed to proliferate as a currency it would produce greater economic uncertainty, reduced trade and lower individual standard of living.” Retailers typically work on tight margins and the immense volatility of the e-currency could eliminate all their profit or even result in losses. In this bitcoin world of uncertainty and risk, commerce would ultimately decline and stone-age bartering would increase. “Naturally, as bitcoin price swings increased, the number of businesses willing to accept e-currency risk would decline”, assumes the former commodities trader.
“Bitcoin is not a legitimate currency but simply a risky virtual commodity bet”, argues the academic at Boston University. Even Winklevii’s call that it is a commodity currency may be unfounded because the wannabe currency does not have a tangible value like gold, which is a widely accepted alternative form of money.
Bitcoin is just backed by dreams and it is “only worth what people are willing to pay”, opines the former Fed bank examiner. “As it becomes increasingly evident that Bitcoin will not be the global currency standard, but simply a novel idea that will be improved upon by more nimble competitors such as Litecoin, restrictions and new regulations will be imposed and prices will plummet.”
“I predict that Bitcoin will trade for under $10 a share by the first half of 2014, single digit pricing reflecting its option value as a pure commodity play”, concludes Mark Williams.
http://invezz.com/news/forex/7726-bitcoin-usd-will-plummet-to-dollar-10-by-first-half-of-2014-predicts-risk-management-expert
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