Economist predicts Bitcoin $25,000 | Bitcointalksearch.org

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Quote from: tokeweed on February 16, 2017, 01:31:13 AM

Quote from: HabBear on February 12, 2017, 01:02:44 AM

https://finance.yahoo.com/news/why-bitcoin-will-surge-to-25000-142402299.html

Economist predicts Bitcoin $25,000!

Part of the commentary compares it to a bubble, but one that hasn't even started it's run yet.

The best part - read the comments - a lot of ill-informed people commenting. People thinking that China can shut it down, haha.

From what rabbit hat did he get and come up with that number? If it really does reach 25k USD, then Bitcoin will be the biggest, largest, hugest bubble in the history of trading in the world. It's just so hard for me to fathom that the whole thing will be that big to support a 25k USD price per coin. BTC will have to eat up a large part of the fiat market share for that to happen. That or the darknet has to grow HUGE. Which I don't think will happen

You seem to be mistaken on this in general

25k dollars per coin is less than 25 bitcoins right now. If we assume that the number of coins remains basically the same (e.g. the supply of new coins can well be offset by the number of coins leaving circulation for good) to get there the Bitcoin user base should increase only 25 times. Further, if there are only a million active bitcoin users at the moment, we would need only around 25M active users all in all. That's nowhere near eating up even a relevant part of the fiat market. You obviously overlook that Bitcoin is still rather tiny in respect to adoption

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Quote from: HabBear on February 12, 2017, 01:02:44 AM

https://finance.yahoo.com/news/why-bitcoin-will-surge-to-25000-142402299.html

Economist predicts Bitcoin $25,000!

Part of the commentary compares it to a bubble, but one that hasn't even started it's run yet.

The best part - read the comments - a lot of ill-informed people commenting. People thinking that China can shut it down, haha.

From what rabbit hat did he get and come up with that number? If it really does reach 25k USD, then Bitcoin will be the biggest, largest, hugest bubble in the history of trading in the world. It's just so hard for me to fathom that the whole thing will be that big to support a 25k USD price per coin. BTC will have to eat up a large part of the fiat market share for that to happen. That or the darknet has to grow HUGE. Which I don't think will happen.

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Quote from: pangdmay on February 15, 2017, 10:22:35 PM

Quote from: pacifista on February 12, 2017, 06:01:10 AM

Cant wait for it to happen. And if that happens many will become millionaires in an instant. As for now its only a dream that is to hard to achieve. But im not saying that bitcoin will never get that price.

This may not happen in the short term. The faster the growth, the greater the bubble, which is not conducive to bitcoin. Maybe 50 or 60 years, it will become a reality.

In my opinion even economist cannot make exact price movement or the future value. $25000 is something unrealistic and its tough to reach in a short or long run. Even on faster growth price moves in relation to adoption and acceptance to mainstream usage.

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Quote from: pacifista on February 12, 2017, 06:01:10 AM

Cant wait for it to happen. And if that happens many will become millionaires in an instant. As for now its only a dream that is to hard to achieve. But im not saying that bitcoin will never get that price.

This may not happen in the short term. The faster the growth, the greater the bubble, which is not conducive to bitcoin. Maybe 50 or 60 years, it will become a reality.

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Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

You are not able to understand that as the price hikes even the transaction fees are also hiked so that is not a big thing as miners are also have their own expenses and they have to meet it that is why the transaction fees is high.

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Quote from: The_Dark_Knight on February 14, 2017, 09:51:43 PM

Quote from: HabBear on February 13, 2017, 10:46:50 PM

Quote from: The_Dark_Knight on February 13, 2017, 09:42:44 PM

Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

Look around you, globalization has reached its peak and we seem to be in a point on time when we are going to see a regression and we see a less globalized world and a world divided by regions, besides with the current economic issues it will not be as surprising if bitcoin reached that amount.

More specific opinions without any sort of rationale or argument.

Saying that "globalization has reached its peak" is as random and baseless as if I were to say "the sky is about to stop being blue".

For globalization to have reached its peak we'd need at least one (but probably more than one) of the following:

Population to start decreasing, meaning fewer consumers
Companies to stop wanting to sell as much goods and services, meaning fewer supply of things to buy
Countries to start building all the goods they need to function, which is geographically impossible; E.g. Japan cannot produce all the food it needs for it's population because its land is too small
People, Companies, and Countries wanting to stop making money, because globalization makes everyone richer

How is the world less globalized?

The United States the biggest champion of globalization has taken a step back and is determined to look after itself, Brexit will happen in the next 2 or 3 years, The EU is looking very shaky if Le Pen wins a Frexit will be a real possibility, borders are getting closed, and there are probably more signals, I did not say that globalization will be completely reverted, but it seems we have reached the peak of it

Britain was never truly a part of the EU, to begin with

Regarding Marine Le Pen coming to power in France, this now seems to be a plausible outcome (after Trump became the President of the US). Despite her ant-EU rhetoric, I don't really think that she will go as far as to make France leave the EU. France like Germany is the backbone of this union, and if this country leaves it, that will be the end of the united Europe. And it will certainly backfire at France itself

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Quote from: HabBear on February 13, 2017, 10:46:50 PM

Quote from: The_Dark_Knight on February 13, 2017, 09:42:44 PM

Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

Look around you, globalization has reached its peak and we seem to be in a point on time when we are going to see a regression and we see a less globalized world and a world divided by regions, besides with the current economic issues it will not be as surprising if bitcoin reached that amount.

More specific opinions without any sort of rationale or argument.

Saying that "globalization has reached its peak" is as random and baseless as if I were to say "the sky is about to stop being blue".

For globalization to have reached its peak we'd need at least one (but probably more than one) of the following:

Population to start decreasing, meaning fewer consumers
Companies to stop wanting to sell as much goods and services, meaning fewer supply of things to buy
Countries to start building all the goods they need to function, which is geographically impossible; E.g. Japan cannot produce all the food it needs for it's population because its land is too small
People, Companies, and Countries wanting to stop making money, because globalization makes everyone richer

How is the world less globalized?

The United States the biggest champion of globalization has taken a step back and is determined to look after itself, Brexit will happen in the next 2 or 3 years, The EU is looking very shaky if Le Pen wins a Frexit will be a real possibility, borders are getting closed, and there are probably more signals, I did not say that globalization will be completely reverted, but it seems we have reached the peak of it.

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Quote from: HabBear on February 12, 2017, 10:02:28 PM

Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

Why does bitcoin at $25,000 mean the end of the banks? You don't offer any reason for that statement.

For bitcoin to reach that level you have to believe that bitcoin is an investment, an asset class...like gold or stocks. Do you know what the highest price stock is? (Price per share). Berkshire Hathaway (BRKA, the A shares). The "A shares" of Berkshire Hathaway trade at $254,000 PER SHARE. And guess what, the banks are still here

Obviously, Warren Buffet doesn't want any random dude as his shareholder

Quote from: HabBear on February 12, 2017, 10:02:28 PM

My point is that the value of an asset class has zero influence on the existence of some unrelated business. People still need banks. If the price of bitcoin goes to $25,000 it does not mean that everyone will be using bitcoin. There are nearly 7 billion people in the world and only 21 million bitcoin that will ever be mined (100 years from now). Bitcoin can very well be a rich asset class that exists along side so many others and at some point will be out of reach for the common person (to own a whole coin that is)

I guess the dependence is more intricate than that

Indeed, no one (I hope) is speaking about everyone and his grandma using Bitcoin, even if its price reaches 25k dollars per coin. What I want to say is that we still can't neglect or omit the fact that Bitcoin price largely depends on Bitcoin recognition and adoption. If the latter are set to increase, the price will likely increase, especially if we talk about multifold increases (in this case, from 1k to 25k). In this way, the price growth can be a good indicator of how fast and in what amount the Bitcoin user base grows (given that the supply of new coins is firmly fixed)

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25,000 $ in my opinion is too overated as of now. The price of bitcoin right now ranges from 900$-1000$ and it going 25 times more than it's price now is to crazy unless there will be some sort of demand that will drive the price way up to that price. If that wouldn't happen, I guess it is yet another failed prediction if there.will be no good news for bitcoin in the years to come.

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Quote from: Doms on February 14, 2017, 05:25:13 AM

Anyone can have his guess as to the potential price that bitcoin can reach, and some even have theories on how that price can be achieved. These are all ok, but at the end of the day, it is still the law of supply and demand that is going to dictate how the price is going to behave for the foreseeable future.

Yeah. At the end. Only the law of supply and demand will govern on determining the price of the value of bitcoin. Because even if there is so much coin out there but no one mine it or buy it, i think the price bitcoin will not be pump. And 25k$ price is too over rated speculation.

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Anyone can have his guess as to the potential price that bitcoin can reach, and some even have theories on how that price can be achieved. These are all ok, but at the end of the day, it is still the law of supply and demand that is going to dictate how the price is going to behave for the foreseeable future.

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Quote from: Amph on February 14, 2017, 02:45:09 AM

they ar enot providing any time frame for that prediction, with these premises every prediction could be true, 25k might sound reasonable from 2020 to 2030

we have already seen more than 10x increase in the past therefore is not so out of reality to think that another one can happen in one sit

and i don't believe we necessarely need adoption increase to reach that value as unstable one, another big manipulation like willy bot can cut it

No one can predict the time but it is quite reasonable to think that the price would reach those levels as there is only a limited amount of coins and since more people are attracted to the idea of bitcoin the price will keep on increasing and i hope we will have a good price triple from the current value when its time for the next halving.

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they ar enot providing any time frame for that prediction, with these premises every prediction could be true, 25k might sound reasonable from 2020 to 2030

we have already seen more than 10x increase in the past therefore is not so out of reality to think that another one can happen in one sit

and i don't believe we necessarely need adoption increase to reach that value as unstable one, another big manipulation like willy bot can cut it

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Quote from: The_Dark_Knight on February 13, 2017, 09:42:44 PM

Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

Look around you, globalization has reached its peak and we seem to be in a point on time when we are going to see a regression and we see a less globalized world and a world divided by regions, besides with the current economic issues it will not be as surprising if bitcoin reached that amount.

More specific opinions without any sort of rationale or argument.

Saying that "globalization has reached its peak" is as random and baseless as if I were to say "the sky is about to stop being blue".

For globalization to have reached its peak we'd need at least one (but probably more than one) of the following:

Population to start decreasing, meaning fewer consumers
Companies to stop wanting to sell as much goods and services, meaning fewer supply of things to buy
Countries to start building all the goods they need to function, which is geographically impossible; E.g. Japan cannot produce all the food it needs for it's population because its land is too small
People, Companies, and Countries wanting to stop making money, because globalization makes everyone richer

How is the world less globalized?

The_Dark_Knight

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Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

Look around you, globalization has reached its peak and we seem to be in a point on time when we are going to see a regression and we see a less globalized world and a world divided by regions, besides with the current economic issues it will not be as surprising if bitcoin reached that amount.

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Quote from: HabBear on February 13, 2017, 03:49:00 PM

Quote from: Biodom on February 13, 2017, 12:36:31 PM

bitcoin at $25K is only 400bil in market cap (counting current coins only)=5% of gold, which is quite reasonable.
I fail to see how this is in any way reflects on the rest of the economy.

Biodom, I fail to see how this reality needs to reflect on the rest of the economy. I just don't understand your comment.

that was in response to the following:

Quote from: Wolf Rainer on February 12, 2017, 01:18:49 AM

Thats a good dream, I dont think we will see that day. Why? Cause bitcoin at 25.000 mean the end of the banks, the end of globalization the end of the fed power. Is a nice fantasy, but with the current structure is just imposible. Last time I sent a transactions it delays almost 2 days for a single confirmation and the fee was like 1% of my transaction.

Obviously, I think that 25K bitcoin does NOT mean anything of sort.

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Quote from: 600watt on February 13, 2017, 03:29:27 PM

and i thought for a moment OP was referring to The Economist Cheesy

Haha, oops. That wasn't my intent but I see it now. Anything to get more people reading this post I suppose!

Quote from: bering on February 13, 2017, 12:57:06 PM

predictions could be missed anytime and i think they were too much because the price even never hit $1500 and how do it would reach $25000 and they not told to us when it would happening but i personally don't believe them

Bering, the fact that they think it could happen is about as good as they can do. Predicting the timing is impossible. Just like now one can predict when the next stock marekt crash will occur, but people can reliably say that the market is overvalued.

Quote from: Biodom on February 13, 2017, 12:36:31 PM

bitcoin at $25K is only 400bil in market cap (counting current coins only)=5% of gold, which is quite reasonable.
I fail to see how this is in any way reflects on the rest of the economy.

Biodom, I fail to see how this reality needs to reflect on the rest of the economy. I just don't understand your comment.

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and i thought for a moment OP was referring to The Economist Cheesy

bering

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predictions could be missed anytime and i think they were too much because the price even never hit $1500 and how do it would reach $25000 and they not told to us when it would happening but i personally don't believe them

Biodom

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bitcoin at $25K is only 400bil in market cap (counting current coins only)=5% of gold, which is quite reasonable.
I fail to see how this is in any way reflects on the rest of the economy.

Topic: Economist predicts Bitcoin $25,000 (Read 2794 times)