Economist predicts Bitcoin $25,000 - page 2.

HabBear

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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.

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.

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).

deadpoolx

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Quote from: Taki on February 12, 2017, 10:18:29 AM

25000$ per 1 batch is big dream of all bitcoin believes. But I think this price is impossible, it will break all financial institutes and instruments and I think main heads of government and politic just will not let it to happen.

I think this is possible, since Bitcoin is a scarce currency, and demand is constantly increasing. But I would rather see this happen over the course of several years, because such a rapid increase in price would bring instability in the market, some people would see this as a bubble, and would probably make the price drop to values much lower than twenty-five thousand dollars.

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Quote from: davis196 on February 12, 2017, 02:32:42 AM

Quote from: Ahab_Hunter_of_BearWhale on February 12, 2017, 01:37:05 AM

With side chains the 1% transaction fee will be lowered and transaction timing will be very low/quick. If Bitcoin goes mainstream it's mkt cap will HAVE to be at least 10-50k minimum. It's current mkt cap is tiny. People are going to start dumping fiat around the world, interest growing fast in unstable and high inflation/uncertainty countries - would only take moderate penetration in a few 3rd or 2nd world countries to see explosive growth in mkt cap.

If bitcoin ever reaches $25,000 all the cryptocurrency exchange platforms will sell the btc they have and run away with the money.Btc price will return to $500 and everything will start from the beginning.
Don`t be such an optimist.

lol exchange platform will not do that, scam platform maybe but some still have integrity and they would rather have the trust of the people and continue with the business. The proportion of their income will be the same since their processing fee is equivalent to the percentage of the amount being withdrawn or traded..

Sr.Urbanist

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Quote from: Hazir on February 12, 2017, 07:49:35 AM

... the reason he presented is too vague.
He said, bitcoin is good, limited and good as store value, therefore it will go high, no details whatsoever.

That's how economists think. It's theoretical. Those ingredients are there and the author referenced tulipomania, as a similar psychological bubble that would push up BTC, but the limited number of BTC makes it different longer term.

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

It will take many years of great returns to remove the current skepticism on digital money.

That's good news for us acquiring BTC assets because digital currencies have pragmatic advantages! Internet shopping took a while. Now, you can buy toilet paper in Amazon pantry. Wink

Pattberry

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Quote from: Hazir on February 12, 2017, 08:58:15 AM

Bear in mind guys, that Lamoureux didn't specify when bitcoin will reach that $25k. He never said it will be this years, next or in 5 years.
All he said is that bitcoin will eventually cross that $25 threshold someday - and he might be right here, as I think the same.
The problem is it may not be in near future at all, but instead after next halving in 2020 or even later. So yes, he is technically right with his prediction.

This is the exact answer and that is the truth as you really cannot predict the real price of bitcoin unless you witness the price of bitcoin growing up to that range and with a limited supply it is quite possible to reach a huge amount and that too multiple times than the current value. Who knows what the price would be ten years from now ,the chances of crossing 10 k is possible and there might even be a possibility that the price could crash.

The Sceptical Chymist

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Quote from: zby on February 12, 2017, 02:57:50 AM

What we need is $80,000 - then satoshi will be the richest man on earth!

That's an interesting thought, actually. I'm wondering what price we have to hit in order for those genesis coins to start moving. I suspect they're not going to just sit there forever--in fact, it's surprising that no one's cashed those out yet.

Don't listen to these stupid predictions. Back in 1998, they were predicting the Dow would hit 36,000 by 2000 or so. Didn't happen. Silver/goldbugs are ALWAYS predicting gold will hit $100,000 and silver $1000. Doesn't happen, won't happen. Silver hit $50 twice in history, and I'm not even sure it even broke that back in 2011. People have been predicting the end of the world since the beginning of the world. Blah blah blah.

MatDerKater

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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.

ECONOMIST PREDICTS BITCOIN TO CRASH TO $10:

http://www.businessinsider.com/williams-bitcoin-meltdown-10-2013-12?IR=T

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Quote from: Febo on February 12, 2017, 02:24:48 PM

Quote from: CryptoDatabase on February 12, 2017, 01:22:59 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.

21m BTC * 25,000 = $525,000,000,000

It would take a hell of a lot higher of a price to be the end of banks. For it to take over banks it has to be worth more than they are and I don't see that happening any time in our future.

I totally agree with that. $25k BTC is only 25 times higher price as it is now and right now is really nothing.

If my math is close to accurate, the net worth of the globe is over $250 trillion which means BTC would have to be priced at $12 million/BTC just to break the current global finances and would put 1 satoshi being worth roughly $11 each.

Febo

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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.

I think it is just a matter of time.

Quote from: CryptoDatabase on February 12, 2017, 01:22:59 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.

21m BTC * 25,000 = $525,000,000,000

It would take a hell of a lot higher of a price to be the end of banks. For it to take over banks it has to be worth more than they are and I don't see that happening any time in our future.

I totally agree with that. $25k BTC is only 25 times higher price as it is now and right now is really nothing.

JL421

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$25000++!!! I mean I get it it that bitcoin has a really good future and has lot's of potential in the upcoming years for sure. But I think the prediction is too high I don't think we can expect a price of 25000$ for sure within 2-3 years. Even after bitcoin will be fully mined I think we can expect a price 5000$.

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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.

21m BTC * 25,000 = $525,000,000,000

It would take a hell of a lot higher of a price to be the end of banks. For it to take over banks it has to be worth more than they are and I don't see that happening any time in our future.

Wolf Rainer

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Quote from: davis196 on February 12, 2017, 02:32:42 AM

Quote from: Ahab_Hunter_of_BearWhale on February 12, 2017, 01:37:05 AM

With side chains the 1% transaction fee will be lowered and transaction timing will be very low/quick. If Bitcoin goes mainstream it's mkt cap will HAVE to be at least 10-50k minimum. It's current mkt cap is tiny. People are going to start dumping fiat around the world, interest growing fast in unstable and high inflation/uncertainty countries - would only take moderate penetration in a few 3rd or 2nd world countries to see explosive growth in mkt cap.

If bitcoin ever reaches $25,000 all the cryptocurrency exchange platforms will sell the btc they have and run away with the money.Btc price will return to $500 and everything will start from the beginning.
Don`t be such an optimist.

In order to sell bitcoins at 25,000 you need people to buy it, and those people will never let the bitcoins fall like that, cause the people who can spend 25,000 are millonaires with a lot of influence in the markets.

icecube45

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Quote from: Taki on February 12, 2017, 10:18:29 AM

25000$ per 1 batch is big dream of all bitcoin believes. But I think this price is impossible, it will break all financial institutes and instruments and I think main heads of government and politic just will not let it to happen.

Yes, I think for now it does not happen because it is still highly impossible. As you say it will destroy the financial institutions, so maybe the government and financial institutions will take act. But good side the adoption will increase even up to 100% because rising prices. I agree with you, the price of bitcoin is currently impossible to reach $ 25,000. I believe bitcoin prices will rise, but not as much as that and in the near future.

royalfestus

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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.

Whenever it gets to that value($25000) there will be lower volume for individuals exchange. Then one can afford to pay more for transaction fee to make it faster

raven7886

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Quote from: Hazir on February 12, 2017, 08:58:15 AM

Bear in mind guys, that Lamoureux didn't specify when bitcoin will reach that $25k. He never said it will be this years, next or in 5 years.
All he said is that bitcoin will eventually cross that $25 threshold someday - and he might be right here, as I think the same.
The problem is it may not be in near future at all, but instead after next halving in 2020 or even later. So yes, he is technically right with his prediction.

No one is going to predict a market which is going to happen after 100 or 200 years. We need to be confident that bitcoin may hit $25k levels in near future maybe around next halving or well before too. Simply I mean to say, we need to analyze the supporting factors for those prices to happen rather than time line.

manselr

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Quote from: iqlimasyadiqa on February 12, 2017, 08:52:11 AM

Quote from: LFC_Bitcoin on February 12, 2017, 07:24:41 AM

$25,000 would make us insanely wealthy but a price that high seems a distant dream. A lot would have to change to make something like this a reality. Maybe many years away but not soon.

This remains a dream. it took a very remarkable thing that can make the price of bitcoin reach 25,000USD. still need a very long time, and we here certainly wanted it to happen as quickly as possible. many people will become rich because of this incident.

You are forgetting that bitcoin will grow exponentially in big bubble burst cycles, it will not be a smooth sailing trip, so nobody knows how high it will be after this $1000 floor. Now everyone knows bitcoin under $1000 is cheap, so next bubble is anyone's guess, $25,000 is certainly possible.

Taki

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25000$ per 1 batch is big dream of all bitcoin believes. But I think this price is impossible, it will break all financial institutes and instruments and I think main heads of government and politic just will not let it to happen.

Hazir

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Bear in mind guys, that Lamoureux didn't specify when bitcoin will reach that $25k. He never said it will be this years, next or in 5 years.
All he said is that bitcoin will eventually cross that $25 threshold someday - and he might be right here, as I think the same.
The problem is it may not be in near future at all, but instead after next halving in 2020 or even later. So yes, he is technically right with his prediction.

iqlimasyadiqa

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Quote from: LFC_Bitcoin on February 12, 2017, 07:24:41 AM

$25,000 would make us insanely wealthy but a price that high seems a distant dream. A lot would have to change to make something like this a reality. Maybe many years away but not soon.

This remains a dream. it took a very remarkable thing that can make the price of bitcoin reach 25,000USD. still need a very long time, and we here certainly wanted it to happen as quickly as possible. many people will become rich because of this incident.

n691309

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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.

Too much fantasy here, I don't think that the time when bitcoin price will be $25,000 is near, at least not for the next few years (meaning that for this decade we can't see $xx,xxx). I think that this news is to make people think that investing in bitcoin now can be very profitable and people that already have bitcoin to not sell but to hold for a longer time.

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