Topic: Professor Bitcorn is right, BTC to $10 - page 2. (Read 4815 times)
I have read some interesting predictions about bitcoin but this one won't happen at all.
It is already a functioning worldwide payment network backed by a 500million infrastructure, with constantly growing adoption numbers. And you propose to value all the "shares" of this network at measly 1 billion dollars ($100 per btc)? This is a total joke. And please, if btc is ever traded at $10 per one that would mean lights are off and every last bit of money has left elsewhere. Provided that the idea can not die, that would mean there is a much larger network for some other crypto in place already, you'd notice if that happens...
So the price now is very much near the $300-400 bottom, from where the new rally would start once capital reassesses total value of the network and the rush to get in starts. Nobody knows when that happens, but the recent training moves to $550 region were pretty solid and quick, while retractions are getting weaker and slower. Three months ago, we ran from these levels to $600 in just 10 days. Retraction is taking three months and we're still not at $400 yet...
So the price now is very much near the $300-400 bottom, from where the new rally would start once capital reassesses total value of the network and the rush to get in starts. Nobody knows when that happens, but the recent training moves to $550 region were pretty solid and quick, while retractions are getting weaker and slower. Three months ago, we ran from these levels to $600 in just 10 days. Retraction is taking three months and we're still not at $400 yet...
We've been seeing predictions like this for years now, you can search for older posts. Guess what: All of them failed misserably. Just another post to revisit in a year and laugh at. Fucking lol.
We need to get below ten dollars to shake out all the weak hands. Only then can a true, sustainable growth phase begin.
If it will go below 10$ than will mean that bitcoin failed and will be replaced by something else.
I'm not sure I follow. The success or failure of the protocol isn't really tied to the price. Sure, if we go back to single digits, it might be an indication that mainstream adoption is unlikely. But if mainstream adoption isn't achieved, that means bitcoin failed?
Yes. If* we fall below $10, it will be an irrefutable indicator that people have abandoned Bitcoin in such a drastic way that the experiment may be regarded as failed. It will have been a great experiment, but Bitcoin will have proven itself faulty for most cases.
*Remember, big if
We need to get below ten dollars to shake out all the weak hands. Only then can a true, sustainable growth phase begin.
If it will go below 10$ than will mean that bitcoin failed and will be replaced by something else.
I'm not sure I follow. The success or failure of the protocol isn't really tied to the price. Sure, if we go back to single digits, it might be an indication that mainstream adoption is unlikely. But if mainstream adoption isn't achieved, that means bitcoin failed?
We need to get below ten dollars to shake out all the weak hands. Only then can a true, sustainable growth phase begin.
If it will go below 10$ than will mean that bitcoin failed and will be replaced by something else.
We need to get below ten dollars to shake out all the weak hands. Only then can a true, sustainable growth phase begin.
How come he got the name Professor Bitcorn?
Obviously it's a derisive putdown but it's unclear where it first appeared.
I seemed to be used almost immediately both here at Bitcointalk and at Reddit and quickly became a meme of sorts, spawning countdown-to-$10 websites, a spoof Twitter account and getting prominent mention in his Wikipedia entry.
Like many memes the actual creator remains obscure.
Anyone have more info?
He said it will trade below $10 a share! He could still be right after we find out what a bitcoin share is..
That made me laugh too.
How did this dingbat ever get to be a professor without knowing what a share is?
Does he think Bitcoin is a company?
I wonder what he thinks a Dollar share or a Euro share will be worth.
Maybe he'd better ask the CEO of Dollars or the CEOs of Bitcoin and Euros.
The guy's a laughingstock.
Would you waste your money on tuition to send your kid to Boston University if they keep airheads like this on faculty?
How come he got the name Professor Bitcorn?
He said it will trade below $10 a share! He could still be right after we find out what a bitcoin share is..
That made me laugh too.
How did this dingbat ever get to be a professor without knowing what a share is?
Does he think Bitcoin is a company?
I wonder what he thinks a Dollar share or a Euro share will be worth.
Maybe he'd better ask the CEO of Dollars or the CEOs of Bitcoin and Euros.
The guy's a laughingstock.
Would you waste your money on tuition to send your kid to Boston University if they keep airheads like this on faculty?
He should not give a time frame.
Like fiat, even bitcoin will be replaced eventually. So given long enough time, he will be right.
Like fiat, even bitcoin will be replaced eventually. So given long enough time, he will be right.
If the price discovery mechanism on gox was more rigged than a Bernie Madoff scheme on crack, then propped up by china and the pumpers; early adopters and gox hackers cashing out we could see some serious mean reversion to the levels of the bubble to $30 as the music comes to a halt 
It seems your Professor Bitcorn isn't quite accurate 
Please don't jump to premature conclusions! He said it will trade below $10 a share! He could still be right after we find out what a bitcoin share is...
ya.ya.yo!
If the price discovery mechanism on gox was more rigged than a Bernie Madoff scheme on crack, then propped up by china and the pumpers; early adopters and gox hackers cashing out we could see some serious mean reversion to the levels of the bubble to $30 as the music comes to a halt
It seems your Professor Bitcorn isn't quite accurate 
Huge influx of new members predicting bitcoin apocalypse posting outdated, irrelevant, or fabricated facts to draw arbitrary conclusions. Bullish if you ask me.
Regarding professor bitcorn: http://www.professorbitcorn.com/
ya.ya.yo!
Regarding professor bitcorn: http://www.professorbitcorn.com/
ya.ya.yo!
So if I would sell all my btc holdings now and then buy back when the price will be $10 I will be rich in the future?
...
early adopters and gox hackers cashing out we could see some serious mean reversion to the levels of the bubble to $30 as the music comes to a halt
early adopters and gox hackers cashing out we could see some serious mean reversion to the levels of the bubble to $30 as the music comes to a halt
The same was said when the price was at about 3$, but we know what happened then...
again, is this the same price, that bitcoin was before the pump to 600? it really seems the same, and now is pretty stable
Yes, of course it's stable! We will remain on this level for the time being! This is the perfect equilibrium and everyone who claims we will rise or fall from this level are simply wrong, it's irrefutable!
again, is this the same price, that bitcoin was before the pump to 600? it really seems the same, and now is pretty stable
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