Llew Claseen says BTC will hit 40,000 Dollar by the end 2018. - page 2.

jseverson

hero member

Activity: 1834

Merit: 759

Quote from: Kulafu on February 19, 2018, 07:05:03 AM

I just check the coin market cap the the top gainer coins/tokens are those not belong to top 200. The 95% prediction of altcoins to fail bit harsh.
As long there are many altcoins and investors are invested on it, it will prevent the the BTC price to soar high in unprecedented manner.

Umm what? I just checked myself and the top 100 in terms of change are pretty much all in the top 100 in terms of market cap. Not only that, only the top 63 actually registered any growth at all. Everything else is in negatives. I know this isn't conclusive of anything at all because it only covers 24 hours, but it does not bode well for your case.

Another thing I'd like to note is that pump and dump groups like using coins with small market caps for their bullshit because they tend to be easy to manipulate, so growth can be a non-factor of success in some cases.

Kulafu

jr. member

Activity: 140

Merit: 2

Quote from: jseverson on February 18, 2018, 09:33:59 PM

Well if you want facts, here are some you might find interesting:

(at the time of writing)

1) There are 1,545 coins/tokens listed on coinmarketcap.com
2) The cryptocurrency market cap is currently at $489,379,690,258
3) The top 100 coins/tokens alone (6.47%) account for $469,263,573,711 (95.8%) of the total cryptocurrency market cap

I know this doesn't mean that the bottom 93.53% are failing, but it's no secret that they're far behind. A large majority of them could fail and no one would notice. His prediction may be overly harsh, but I'd say it's not too unlikely.

I just check the coin market cap the the top gainer coins/tokens are those not belong to top 200. The 95% prediction of altcoins to fail bit harsh.
As long there are many altcoins and investors are invested on it, it will prevent the the BTC price to soar high in unprecedented manner.

batang_bitcoin

hero member

Activity: 3080

Merit: 603

So first it is Novogratz saying this prediction and now Llew Claseen. Although I don't know who Claseen really is but why is it that there is a similarity to their prediction. For those altcoin enthusiasts and putting all of their life savings to divest into such altcoins this might be interesting and intriguing to them. I have some alts holding but mostly with bitcoin.

Tambu

jr. member

Activity: 224

Merit: 3

For the passed 30 days the average BTC price fluctuations around 15% and the highest is +29% and the lowest is -30%. The prediction to reach $40K it appears as speculation.

jseverson

hero member

Activity: 1834

Merit: 759

Quote from: Samarkand on February 18, 2018, 11:51:39 PM

Interesting viewpoint, I never really considered that being vulnerable to spam attacks is an issue in
itself. I´m just speculating, but maybe it will become increasingly expensive to spam
the network when the Bitcoin price reaches new highs (after all fees are calculated in BTC and
the people with nefarious intentions are likely not having huge amounts of BTC, but rather huge
amounts of fiat).

That's true. One of the purposes of miner fees is to discourage spammers from spamming the network with transactions after all. You have to consider though, for this particular case, the supposed spammers spammed Bitcoin at its peak, which is $19,000+. It's sitting just below $11,000 now, so if we oversimplify things, we could assume they only need half as much fiat to spam the way they did last year. If they really did orchestrate the transaction surge then, they have shown that they have money to burn, and they're willing to go for it. Any other entity who ticks all the right boxes can go down the same path too. That means the network is at these people's mercy, and that's a problem.

I do hope the increasing Bitcoin price will dissuade malicious entities from network spams, but the better solution would be to address Bitcoin's scalability problem.

Samarkand

sr. member

Activity: 658

Merit: 282

Quote from: jseverson on February 18, 2018, 11:44:16 PM

...
There's no solid evidence of a spam attack, but I don't discount the possibility. Still, wouldn't being vulnerable to spam attacks be aan issue in itself? Spam attack or not, the network being clogged means we lose either way -- Bitcoin can't handle high demand and/or its network can be brought down by a few bad eggs. It's a weakness that shows Bitcoin isn't ready for primetime.

Interesting viewpoint, I never really considered that being vulnerable to spam attacks is an issue in
itself. I´m just speculating, but maybe it will become increasingly expensive to spam
the network when the Bitcoin price reaches new highs (after all fees are calculated in BTC and
the people with nefarious intentions are likely not having huge amounts of BTC, but rather huge
amounts of fiat).

Regarding evidence for spam attacks I could provide you with a few links:
Some analysis done by French developer LaurentMT
Some analysis done by me

Of course none of this is definite proof of spam attacks, but some blocks contain
a ton of transactions that are highly unlikely to come from legitimate Bitcoin usage.
Besides, some entities were obviously highly incentivized to try to destroy the trust in Bitcoin
(e.g. Bitcoin Cash supporters, some governments, Ethereum supporters, who were waiting for the
"flippening").

jseverson

hero member

Activity: 1834

Merit: 759

Quote from: Samarkand on February 18, 2018, 11:20:56 PM

I assume that you are referring to the full mempool when you talk about Bitcoin´s issues?

In my opinion the full mempool would have never happened if nefarious actors would have never
started spamming the blockchain. The current blocksize actually is high enough for the genuine demand
for BTC transactions at the moment and only appears to be too low during periods of spam attacks.

Yes I was.

There's no solid evidence of a spam attack, but I don't discount the possibility. Still, wouldn't being vulnerable to spam attacks be aan issue in itself? Spam attack or not, the network being clogged means we lose either way -- Bitcoin can't handle high demand and/or its network can be brought down by a few bad eggs. It's a weakness that shows Bitcoin isn't ready for primetime.

magneto

hero member

Activity: 1666

Merit: 753

Quote from: Kulafu on February 17, 2018, 01:50:48 AM

Bitcoin Foundation’s Llew Claasen Says Bitcoin Will Hit $40,000, 90% Of Altcoins Will Fail.
https://cointelegraph.com/news/bitcoin-foundations-llew-claasen-says-bitcoin-will-hit-40000-90-of-altcoins-will-fail

Hmm! it is a bitter prediction after the dip (losses) or a better prediction which need to ponder?
For me, seems Llew Claseen needs a quick revenue after a huge losses.

I agree with Claseen that 90% of altcoins are going to fail. That's just the fact at the moment. A lot of alts are hyped up for no apparent reason and just because investors want another way of putting away their money and speculating on something.

The $40k prediction probably won't come true, however.

Prices are going up, but the market's definitely not as bullish compared to last year. The maximum we're going to see is most likely in the $20k-30k region, and that's going to be very optimistic from even a long term bull.

Samarkand

sr. member

Activity: 658

Merit: 282

Quote from: jseverson on February 18, 2018, 08:04:29 AM

... Bitcoin's issues were on full display, and I assume a lot of newcomers lost money by buying during the bull run;...

I assume that you are referring to the full mempool when you talk about Bitcoin´s issues?

In my opinion the full mempool would have never happened if nefarious actors would have never
started spamming the blockchain. The current blocksize actually is high enough for the genuine demand
for BTC transactions at the moment and only appears to be too low during periods of spam attacks.

jseverson

hero member

Activity: 1834

Merit: 759

Quote from: antosionta on February 18, 2018, 10:15:59 AM

It still have a possibility, but saying 90% of altcoins will fail is not a good prediction.
what makes him said that ? if this prediction not based on some fact, it is only speculations.

Well if you want facts, here are some you might find interesting:

(at the time of writing)

1) There are 1,545 coins/tokens listed on coinmarketcap.com
2) The cryptocurrency market cap is currently at $489,379,690,258
3) The top 100 coins/tokens alone (6.47%) account for $469,263,573,711 (95.8%) of the total cryptocurrency market cap

I know this doesn't mean that the bottom 93.53% are failing, but it's no secret that they're far behind. A large majority of them could fail and no one would notice. His prediction may be overly harsh, but I'd say it's not too unlikely.

antosionta

newbie

Activity: 64

Merit: 0

Quote from: Kulafu on February 17, 2018, 01:50:48 AM

Bitcoin Foundation’s Llew Claasen Says Bitcoin Will Hit $40,000, 90% Of Altcoins Will Fail.
https://cointelegraph.com/news/bitcoin-foundations-llew-claasen-says-bitcoin-will-hit-40000-90-of-altcoins-will-fail

Hmm! it is a bitter prediction after the dip (losses) or a better prediction which need to ponder?
For me, seems Llew Claseen needs a quick revenue after a huge losses.

It still have a possibility, but saying 90% of altcoins will fail is not a good prediction.
what makes him said that ? if this prediction not based on some fact, it is only speculations.

emmybd

full member

Activity: 1218

Merit: 112

I think It is certainly possible that bitcoin will hit 40k by the end of 2018. If we see what happened last year, bitcoin rose under 1k to around 20k. At present, the price has crossed 10k and to make 4x from here is definitely possible.

okour999

member

Activity: 393

Merit: 10

Decentralized Gaming Platform - Play & Earn $

when you buy more bitcoins and lots of stocks and they do not sell it I think that just hold and just buy nothing to sell their bitcoin because much bitcoin support and they can make more bitcoin and hold

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: Kulafu on February 17, 2018, 01:50:48 AM

Bitcoin Foundation’s Llew Claasen Says Bitcoin Will Hit $40,000, 90% Of Altcoins Will Fail.
https://cointelegraph.com/news/bitcoin-foundations-llew-claasen-says-bitcoin-will-hit-40000-90-of-altcoins-will-fail

Hmm! it is a bitter prediction after the dip (losses) or a better prediction which need to ponder?
For me, seems Llew Claseen needs a quick revenue after a huge losses.

That price prediction is very popular among many investors and Llew Claasen did not predict anything new,maybe he just read what Michael Novogratz said a few months ago that Bitcoin could 'easily' reach $40,000 by the end of 2018

If you just think about it and if all the facts are taken into account then 40 000$ is not something hard to reach.Last year show how nothing is impossible,from 1000$ to 20 000$ was amazing progress.So if todays price is go up just 4 times, 40 000$ will be realized.

What definitely should not be forgotten is a correction that will most likely follow next ATH, and it can be 50% more or less.

coinsocieties

hero member

Activity: 728

Merit: 501

io.ezystayz.com

I think this would be posible that bitcoin will reach to 40,000$ before the end of this year 2018 just like last year we did not realy expect that bitcoin could reach in 19k and almost 20k before he fall down again and reach to 7k usd in january this year. Now this is the good time to buy more bitcoin and hold.

VitKoyn

full member

Activity: 490

Merit: 106

Quote from: Kulafu on February 17, 2018, 01:50:48 AM

Bitcoin Foundation’s Llew Claasen Says Bitcoin Will Hit $40,000, 90% Of Altcoins Will Fail.
https://cointelegraph.com/news/bitcoin-foundations-llew-claasen-says-bitcoin-will-hit-40000-90-of-altcoins-will-fail

Hmm! it is a bitter prediction after the dip (losses) or a better prediction which need to ponder?
For me, seems Llew Claseen needs a quick revenue after a huge losses.

Well we all know that any amount is possible to reach by Bitcoin, but we can't really say how much it can take in a specific day or year. I agree with him that majority of those existing alternative cryptocurrency will fail soon because they really don't have any unique usage and most are just shitcoins, and if that happens money will pour in those coins that will survive mostly in Bitcoin so it is possible that it can hit $40000 or even more. So if that happens before this year ends, maybe his predictions are right. But the problem here is even those shitcoins will not survive, more new coins will come as long as there are people who are willing to invest.

Morgann

full member

Activity: 420

Merit: 100

Quote from: Kulafu on February 17, 2018, 01:50:48 AM

Bitcoin Foundation’s Llew Claasen Says Bitcoin Will Hit $40,000, 90% Of Altcoins Will Fail.
https://cointelegraph.com/news/bitcoin-foundations-llew-claasen-says-bitcoin-will-hit-40000-90-of-altcoins-will-fail

Hmm! it is a bitter prediction after the dip (losses) or a better prediction which need to ponder?
For me, seems Llew Claseen needs a quick revenue after a huge losses.

some prediction is 50k but i dont know maybe if bitcoin is increase in any amount i will be so happy because i earn money.

jseverson

hero member

Activity: 1834

Merit: 759

I would've considered this a conservative estimate last year, but considering how the massive bull run corrected itself and how we're only just beginning to stabilize, I wouldn't count on it. Bitcoin's issues were on full display, and I assume a lot of newcomers lost money by buying during the bull run; these people are unlikely to enter the market again and/or top up their wallets. That means the room for growth of adoption would be slimmer than it was last year, making a sustained bull run more difficult.

I'm sure Bitcoin will be fine, but I believe it will take a spark to get it growing the way it did again. That spark may end up being the Lightning Network, if it does as well as theorized.

Quote

90% Of Altcoins Will Fail.

Well about 95% of alts are shitcoins with no real roadmap, so I wouldn't be surprised. It doesn't really matter though, because new shitcoins will just take their place; they're quite in demand for pump and dump groups after all.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: NJB18 on February 18, 2018, 06:38:34 AM

Given the volatility on bitcoin, its past and its room for growth. $40,000 this year is small. But i'll be happy and contented with that price though.

Discard the volatility. If the market has taught us on thing throughout the years, then it's the fact that volatility is meaningless for the longer term price development. Bitcoin's market has been one massive rollercoaster, and people keep complaining about the volatility being an obstacle for the price, like seriously, are you guys blind or what? LOOK at the charts if you don't believe it. Other than that, with how thin the market is, and with how much thinner the market will get in the forthcoming months/years, it's just a matter of time before we smash through +$100,000 levels. I don't even focus on anything less than that, neither should anyone here do if they are in for the long term.

BitcoinHodler

hero member

Activity: 1456

Merit: 579

HODLing is an art, not just a word...

it seems like we are at that time of year again when the rise has started and bitcoin is showing all signs of a rally so everyone is making predictions about how big it will get by some arbitrary time!

bitcoin is on the rise and the speed of this rise and as a result the price by the end of 2018 is completely unpredictable. for example the thing above poster said about lightning network can speed up the rise by a lot but it needs to start being adopted by some major merchant/service first.

for example imagine Amazon starting to accept bitcoin payments through LN. it will possibly push price to $100k!

Topic: Llew Claseen says BTC will hit 40,000 Dollar by the end 2018. - page 2. (Read 546 times)