Kraken CEO: Bitcoin Would Be Worth $1,000,000,000,000 If the Masses Knew the Pow

pixie85

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Quote from: DeathAngel on June 03, 2020, 03:27:20 AM

If my Aunt had balls she’d be my Uncle.

Bit of a stupid statement really, we all want bitcoin to gain mainstream adoption but silly statements like predicting unrealistic prices help nobody.

It's even dumber if you add that the statement is made by a business owner.

It's like the potato farmer saying that if we all ate them every day we'd be healthier and the price of the crop would be 10 times higher Cheesy

Another true but just too obvious statement is that if everybody in the world invested any amount of money in Bitcoin it would be worth at least 1 million USD per coin.

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Quote from: DarkDays on June 04, 2020, 06:18:40 AM

$1 trillion per Bitcoin, or a $1 trillion market cap? It's already been over $300 billion before, so achieving $1 trillion is certainly within the realm of possibility.

If you had read the first few posts and clicked on the link in post number 4, you would have seen that at least according to the author of the article it is about the amount of $1 trillion per BTC, and not about market cap. If we were talking about $1 trillion MC, then in that case the price of 1 BTC would be around $50 000.

For all the other questions read my previous post, I think I have somewhat explained what this is all about.

batang_bitcoin

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Quote from: DarkDays on June 04, 2020, 06:18:40 AM

$1 trillion per Bitcoin, or a $1 trillion market cap? It's already been over $300 billion before, so achieving $1 trillion is certainly within the realm of possibility.

However, it certainly won't ever achieve $1 trillion per BTC, since that would equal a market cap of 21 quadrillion USD, which I believe is higher than the total asset + fiat + credit values of everything on earth.

In any case, he should at least post some supporting evidence with his bold statement. Though I believe he is correct, how do you arrive at $1 trillion? To me, it seems like it should be closer to $3.5 trillion—given that the market cap is currently $170 billion and only around 5% or less of the world's popular has invested in BTC (probably closer to 1% overall.)

The $1T/bitcoin is unreal. It's crazier than the prediction of John McAfee if that's the case but it's more realistic calling it a 1 trillion dollar market cap. It's the next goal that we all want to achieve and witness. Two years from now to five years, we will never know how long bitcoin has to go through before reaching that dream market cap.

Quote from: konfuzius5278 on June 03, 2020, 03:50:08 AM

Think of how much money must be taken from other markets to BTC

Getting from 100$ to 10000 $ is relativly easy for a small market,

doing this from 10000 $ to even 100000 $ is much more hard....

We'll be there soon but only time will know.

DarkDays

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$1 trillion per Bitcoin, or a $1 trillion market cap? It's already been over $300 billion before, so achieving $1 trillion is certainly within the realm of possibility.

However, it certainly won't ever achieve $1 trillion per BTC, since that would equal a market cap of 21 quadrillion USD, which I believe is higher than the total asset + fiat + credit values of everything on earth.

In any case, he should at least post some supporting evidence with his bold statement. Though I believe he is correct, how do you arrive at $1 trillion? To me, it seems like it should be closer to $3.5 trillion—given that the market cap is currently $170 billion and only around 5% or less of the world's popular has invested in BTC (probably closer to 1% overall.)

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Quote from: slackovic on June 03, 2020, 02:38:48 AM

I don't see a point in making these kind of posts. If users would posting links to articles explaining why Bitcoin's price should be XY USD, the forum would be full of those articles.

LOL I could not agree more. It is futile to create a topic without even summarizing the whole content of an article, or the shared thoughts about it.

I find it shilling, coz if this will be the case then we should not have this forum. THIS IS NOT A PLACE FOR THESE JUNK.

hv_

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Sure, isn't that illegal financial advice?

Wait, kranken is not an regulated exchange anyway

Lol

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Quote from: BrewMaster on June 03, 2020, 12:30:23 PM

Quote from: slackovic on June 03, 2020, 02:38:48 AM

I don't see a point in making these kind of posts. If users would posting links to articles explaining why Bitcoin's price should be XY USD, the forum would be full of those articles.

over the past week or so we have had some price rises and even the psychological barrier at $10k was broken. that simply means these days are officially "make a random price guess" day.
it is not surprising to hear these kinds of statements and people who post them. they are always exciting specially when they are ridiculously big or small like last year when we kept hearing how price is falling to $1k

I know. But it's really annoying seeing all those posts over and over again. What's the point? It's especially ridiculous to see the same news portal publishing article about Bitcoin price rising and then after few hours they publish that the price will fall. I know they are fighting for readers and clicks but that makes them look ridiculous.

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Quote from: slackovic on June 03, 2020, 02:38:48 AM

I don't see a point in making these kind of posts. If users would posting links to articles explaining why Bitcoin's price should be XY USD, the forum would be full of those articles.

over the past week or so we have had some price rises and even the psychological barrier at $10k was broken. that simply means these days are officially "make a random price guess" day.
it is not surprising to hear these kinds of statements and people who post them. they are always exciting specially when they are ridiculously big or small like last year when we kept hearing how price is falling to $1k

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Quote from: hatshepsut93 on June 03, 2020, 03:50:10 AM

Almost all people are fine with banks, this is the reality. Maybe they answer in polls that they don't trust bankers, but their actions show that they do. Lots of countries have already shifted towards mostly digital payments (online banks and such), and even in those countries where cash is still king most people do have bank accounts and use them from time to time.

Combine this fact with the fact that most people are aware of Bitcoin, and you'll see how wrong the CEO's statement is. People know about Bitcoin. They have a rough idea that it's opposed to banks. Yet they don't care.

I think it's true that at this point many people have at least heard of Bitcoin. But they don't feel motivated to learn more about it and to try using it because there are truly no guarantees and high volatility. The government as the reassurance that fiat is going to be stable, local fiat will be accepted everywhere and that storing money in the bank is beneficial (because for some purposes other ways of storing money wouldn't even be an option) is very important to people. And while I think it's realistic that Bitcoin will cost $100k at some point within the next 10 years, the speculations about it costing $1 million, a billion or trillion don't make much sense to me.

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Quote from: Jawhead999 on June 03, 2020, 02:50:03 AM

Anyway, have you watch the video first? and can you show me when/where he mention Bitcoin price be worth "$1,000,000,000,000"? because I only read "$100,000"

Well this one is even much worse than McAfee with its $1 million fake speculation, because millions don't seem to be enough anymore, so they went over trillions because that sounds a lot nicer, and of course there are a lot more zeros. It’s all part of the game, because such people can afford to say whatever they want, their reputation is ultimately paid with money.

Given the number of Bitcoins (total supply 21 million), the assumption that 1 could be worth as much as $1 trillion is actually ridiculous, and leads us to the conclusion that 10 BTC would be more valuable than the whole market cap of gold, or that 100 BTC can have a higher value than all fiat in the world.

One thing I have no doubt about, people in high positions obviously have access to some very strong substances - and under their influence they obviously talk nonsense Roll Eyes

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Quote from: NorrisK on June 03, 2020, 06:59:13 AM

He also mentions it means that the USD will be basically worthless at that point. So yeah, in that case a price like that would be possible.

Yeah that's what I was thinking

Quote from: konfuzius5278 on June 03, 2020, 03:50:08 AM

Think of how much money must be taken from other markets to BTC
Getting from 100$ to 10000 $ is relativly easy for a small market,
doing this from 10000 $ to even 100000 $ is much more hard....

If nobody sells, you only need a 1 cent worth sell at the price of 1 trillion, and there you have it. Grin

ene1980

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Quote from: Jawhead999 on June 03, 2020, 02:50:03 AM

Not suprised, just another CEO who want to promote their service by predicting bitcoin with unrealistic analysis.

Anyway, have you watch the video first? and can you show me when/where he mention Bitcoin price be worth "$1,000,000,000,000"? because I only read "$100,000"

The Kraken CEO wants to come up with a huge prediction and the OP wanted to hype that up adding a few zeros to attract users to click his thread Cheesy

.

@OP Kraken CEO is marketing his website through these claims, free press is what he is looking for rather than spending money for it but why you want to add a few zeros in your title Tongue

.

To be frank i do not want everyone to use bitcoin because i know how much time it will take to get the transaction confirmed in the past few weeks.

NorrisK

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He also mentions it means that the USD will be basically worthless at that point. So yeah, in that case a price like that would be possible.

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Quote from: hatshepsut93 on June 03, 2020, 04:50:36 AM

I'd rather see Bitcoin becoming more practical, and people using it not because they read bad stuff about central banks, but because using Bitcoin is in some ways better even for a layperson.

In order to find it more practical than fiat they have to learn to think more clearly, which basically comes from a higher degree of education.

You said about "every radical movement". They keep the people stupid and feed them with nonsense. I was talking about something ... different: education. Real education. One where everything can be questioned and researched.

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Quote from: NeuroticFish on June 03, 2020, 04:38:08 AM

It's not that people don't care. People don't know they should care. Change of habits is needed. Education is needed. We are still way closer to monkeys (or sheep) than we'd like to admit.

Well, this is just the motto of every radical political movement ever. Communists think that if they keep preaching then the "sheeple" will open their eyes and achieve utopia. Conspiracy theorists think that people are blind to illuminati/freemasons/etc. Anarchists dream about people toppling governments and living without it with some new model.

In reality most people don't think about any of that, they have their daily lives and hobbies, and unless they are deeply frustrated with something, they won't even go to protest. I just don't see how Bitcoin evangelism is any different from all these other movements that go nowhere.

I'd rather see Bitcoin becoming more practical, and people using it not because they read bad stuff about central banks, but because using Bitcoin is in some ways better even for a layperson.

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Quote from: hatshepsut93 on June 03, 2020, 03:50:10 AM

Almost all people are fine with banks, this is the reality. Maybe they answer in polls that they don't trust bankers, but their actions show that they do. Lots of countries have already shifted towards mostly digital payments (online banks and such), and even in those countries where cash is still king most people do have bank accounts and use them from time to time.

Combine this fact with the fact that most people are aware of Bitcoin, and you'll see how wrong the CEO's statement is. People know about Bitcoin. They have a rough idea that it's opposed to banks. Yet they don't care.

Since their first steps humans get used to have a helping hand around, somebody to trust and somebody who will bail them out if they make a mistake.
Depending on the environment they grow up, many will remain tied to such expectations and very few won't.
The way they handle their money / assets is in pace with their mentality. So I am not surprised many prefer others handle their money as long as it's - in a way or another - insured.

Now, add the fact public figures - Donald Trump, Warren Buffet, Bill Gates, heads of central banks - tell loud that Bitcoin is risky and people should stay away.

It's not that people don't care. People don't know they should care. Change of habits is needed. Education is needed. We are still way closer to monkeys (or sheep) than we'd like to admit.

hatshepsut93

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Almost all people are fine with banks, this is the reality. Maybe they answer in polls that they don't trust bankers, but their actions show that they do. Lots of countries have already shifted towards mostly digital payments (online banks and such), and even in those countries where cash is still king most people do have bank accounts and use them from time to time.

Combine this fact with the fact that most people are aware of Bitcoin, and you'll see how wrong the CEO's statement is. People know about Bitcoin. They have a rough idea that it's opposed to banks. Yet they don't care.

konfuzius5278

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Think of how much money must be taken from other markets to BTC

Getting from 100$ to 10000 $ is relativly easy for a small market,

doing this from 10000 $ to even 100000 $ is much more hard....

DeathAngel

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If my Aunt had balls she’d be my Uncle.

Bit of a stupid statement really, we all want bitcoin to gain mainstream adoption but silly statements like predicting unrealistic prices help nobody.

TravelMug

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I found one article: https://dailyhodl.com/2020/05/29/kraken-ceo-bitcoin-btc-would-be-worth-1000000000000-if-the-masses-knew-the-power-of-cryptocurrency/

Anyhow, Kraken's CEO will obviously, be very bullish about bitcoin, his business revolves around it. So he needs to hype it and tell those no-coiners how much it should be worth in the future. So it could get to that price, or simple goes to 0. My point is that we can't simply predict the price as it is very volatile. If the price reach that level, then good, but what if it didn't? And those invested because of his prediction? He is no different from John McAfee and countless so called experts out there.

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