Topic: Peter Schiff "Now all I have to do is HODL and when BTC Moons to 1 million....." - page 2. (Read 440 times)

it the proof that dont always believe what other people say some of them have hidden agenda
bashing bitcoin can be use by some people with influence to buy cheap from weak hands
he might learn the true value of bitcoin and taking advantage of the influence he have.
i will not be shock if he reveal that he have a lot of bitcoin and buying for a long time.

I sense a hint of sarcasm in that post, and such a price is not feasible in the distant future. But is it a possibility? I would say yes. For Bitcoin to be a global currency and be used as reserve funds then it has to be valued Hugh enough to cater for the entire globe.
The supply is fixed, so that leaves only the price to grow.

Eventually everyone would want to own bitcoins, and there has to be enough value to go round.

I don't think he bought any more Bitcoin. He says that Erik gave him about $50 worth and he hasn't touched it since the conference.

So he could of given him the Bitcoin when it was $250 per coin and right now he would be up to $2000 with his original $50 deposit.

I don't know why he actually brings this up. The guy is almost 60 years old and in my opinion Bitcoin is too technical for him and he probably won't invest too much into it. Basically no different than Warren Buffet.

Bitcoin is for the millenials pretty much and people that are more technical with computers and such. Will be a while before it becomes user friendly as an iPad.

Best to have a balanced portfolio.   I've been into crypto for 9 years and despite wonderful gains (and way better gains than any other assets I hold), I still advise balance.   Never be all in.   Balance between stocks, fiat (and a wide basket of currency while in fiat), real estate AND crypto.   

Are you peter lets try some word play and see your post history ?
More ironically the date created on your account!

"I was laughed at when I forecast the housing bubble, and 2008 crash.   Very much like we are seeing here in my forecast on Bitcoin.     Only a fool would have a significant amount of money invested, and not look at, and seriously consider all information and risks."

A  fool smart guy and his gold are soon parted, and united with Bitcoin.

and jk i dont care if your peter welcome to bitcointalk

In a Bubble, or Mania, the Market ALWAYS behaves contrary to the forecasts of the majority, warnings of the bubble are dismissed and ridiculed by those blinded by greed.    This has happened many times throughout history. 

Peter Schiff was laughed at when he forecast the housing bubble, and 2008 crash.   Very much like we are seeing here in his forecast on Bitcoin.     Only a fool would have a significant amount of money invested, and not look at, and seriously consider all information and risks.

I am very confused by what everyone is saying that bitcoin will be able to achieve such a high price. Because often the market behaves contrary to the forecasts of the majority. It may never happen as much as we'd like to believe it.

there is another factor to take into account which bend the time in crypto and it work only in small supply coins...

when the supply is very small like 21 million coins and demand is to much big and no body sell coins its surge the price to astronomical number and in this situation the marketcap is misleading somehow...

lets look on this effect in different industry like diamonds.

lets say for now that there is x=500000000 demand for y=7000000 diamonds , now in order to understand this effect we need to think what will happen if we lower y to 30000000 just for the example, in other words the demand is much more big now and its surge the price per diamond without actually selling any,

what i mean is when demand is grow and there is low supply and no body sell its surge the price per coin to astronomical number and in this point market cap is some how fucked up its hard to calculate this,

its just example what can happen with small supply coins when there is huge demand and no body sell them and there is max supply compare to diamonds and gold, its fucking surge the price to astronomical number, its happen over the history in other verticals....

for example there was few rare diamonds which the price was around 80 million dollars per diamond, the demand grow for them and no body was sell them so the price surge to 150 million dollar per diamond , so after some time was founded bunch of this diamond compare to few , the price fell to 60 miilion per diamond.

its a game of supply and demand and if supply is very low and demand is very huge and no body sell its surge the price of the supply to astronomical number.

this kind of effect cannot happen with projects with billions of coins because if the supply to much big it lose value over time and demand will never will be more then the supply in projects with billion of coins.

this effect will start to work when people dont need to convert crypto to fiat money and use it directly ,

zeex startup going to help this happen and by this kind of stratups we can predict this kind of effect.

zcash spiked to 2.3 miilion per coin becaus of this effect

there is another factor to take into account which bend the time in crypto and it work only in small supply coins...

when the supply is very small like 21 million coins and demand is to much big and no body sell coins its surge the price to astronomical number and in this situation the marketcap is misleading somehow...

lets look on this effect in different industry like diamonds.

lets say for now that there is x=500000000 demand for y=7000000 diamonds , now in order to understand this effect we need to think what will happen if we lower y to 30000000 just for the example, in other words the demand is much more big now and its surge the price per diamond without actually selling any,

what i mean is when demand is grow and there is low supply and no body sell its surge the price per coin to astronomical number and in this point market cap is some how fucked up its hard to calculate this,

its just example what can happen with small supply coins when there is huge demand and no body sell them and there is max supply compare to diamonds and gold, its fucking surge the price to astronomical number, its happen over the history in other verticals....

for example there was few rare diamonds which the price was around 80 million dollars per diamond, the demand grow for them and no body was sell them so the price surge to 150 million dollar per diamond , so after some time was founded bunch of this diamond compare to few , the price fell to 60 miilion per diamond.

its a game of supply and demand and if supply is very low and demand is very huge and no body sell its surge the price of the supply to astronomical number.

this kind of effect cannot happen with projects with billions of coins because if the supply to much big it lose value over time and demand will never will be more then the supply in projects with billion of coins.

To me I see those that says all the time with so much anticipation that I would hold till bitcoin boom as not really seeing bitcoin for it real substance and value. They are the type when a bear market comes In they would be quick to panic and instigate critical thought about bitcoin.
Try to at least value bitcoin, believe its usefulness rather than yet another investment initiative.
This believe you would have in bitcoin would determine your stance in the good or bad times.

Some of those who criticize bitcoin really owns it because they have the hidden agenda from doing that. Now this scenario is the proof that whether you believe on bitcoin or not, if you experience to earn money you will slowly love it to hold more bitcoin. Well, he might be buying more bitcoin now and still planning to hold until the moon was hit. 

The sad idiot shoulda learned from his dad bekng murdered by greedy federal agencies.

The social/cultural changes represented by Bitcoin are not about greed and Lambos.

I've been arguing with this clownguy for months about this now he's on board?!? wtf!
Thanks Erik V