cryptocurrencies are not just stores of value, they are networks - page 3.

cpfreeplz

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Quote from: d5000 on June 02, 2017, 06:35:12 PM

Third, a part of the "mass adoption" dream of Bitcoin is already priced in its present value. With present use as a currency Bitcoin would have a value of less than $100 (rough estimation).

Your high school math teacher would be very angry with you. You didn't show your work!

Quote from: aso118 on June 02, 2017, 09:45:29 PM

The underlying assumption between every projection on cryptocurrencies is the rate of adoption. If adoption fails to take off, Bitcoin will die a slow death. Only when the adoption increases significantly does the network effect kick in.

I couldn't have said it better myself. We're nowhere close to that yet.

aso118

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★Nitrogensports.eu★

The underlying assumption between every projection on cryptocurrencies is the rate of adoption. If adoption fails to take off, Bitcoin will die a slow death. Only when the adoption increases significantly does the network effect kick in.

cryptonia

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Also blockchains contain encrypt manipulate and transmit data. that makes them very different to gold or fiat

d5000

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Decentralization Maximalist

While I agree with the network effect being important and difficult to calculate, I'm a bit skeptic about the conclusion this article draws - it's only one more of the ultra-bullish "predictions" I saw in the last months.

First, Bitcoin is not the only cryptocurrency in the market. There are thousands. There are several worst-case scenarios where Bitcoin could lose value in the future.

Second, there are also other interesting ideas for private currencies, like "baskets" of goods and services. These cannot be easily realized with Bitcoin. With Ethereum and Bitshares it's possible, but it has some hassles, and I think this model would have more success when managed by a "democratic" organization (like an association or foundation or even an "informal organized group").

Third, a part of the "mass adoption" dream of Bitcoin is already priced in its present value. With present use as a currency Bitcoin would have a value of less than $100 (rough estimation).

If everything goes well, I expect however higher Bitcoin prices in the future ($20K perhaps) but not hundreds of thousands or millions like this article suggests.

Meuh6879

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Source : http://www.zerohedge.com/news/2017-06-02/projecting-price-bitcoin

Quote

The true potential value of cryptocurrencies will not become visible until the global economy experiences a catastrophic collapse of debt and/or a major fiat currency. These events are already baked into the future, in my view; nothing can possibly alter the eventual collapse of the current debt/credit bubble and the fiat currencies that are being issued to inflate those bubbles.

The skeptics will continue declaring bitcoin a bubble that's bound to pop at $3,000, $5,000, $10,000 and beyond. When the skeptics fall silent, the potential for a bubble will be in place.

Topic: cryptocurrencies are not just stores of value, they are networks - page 3. (Read 1845 times)