A bit coin can be only worth a total of $2000. Its part of the formula.
How do you figure that?
Topic: There is NO Bitcoin bubble, yet. - page 2. (Read 1993 times)
How do you figure that?
A bit coin can be only worth a total of $2000. Its part of the formula.
The only issue with that, I fear, would be that they would develop their own form of cryptocurrency, different although very similar, and market it to the mass, mimicking bit coin, but in turn, owning the shares from the very beginning. They would have the media power to cause an explosion that would make them trillion airs,
Certainly they would market it as a 'trusted version' of bitcoin and get regulators in to try to tarnish bitcoins image. Then maybe try to DDOS nodes such as MtGox to shake peoples confidence in bitcoin and boost how 'safe' there ersatz one is.
Here comes the start of the liiquidity/credit that is needed for further price ascension.
Bitcoin now traded on IGmarket
http://www.igmarkets.com.au/cfd/what-is-a-cfd.html
Borrowed from Vladimir's post:
https://plus.google.com/app/basic/stream/z12ngbcr1s2derigh04cc1ugwuzgexgb0vo0k
Bitcoin now traded on IGmarket
http://www.igmarkets.com.au/cfd/what-is-a-cfd.html
Borrowed from Vladimir's post:
https://plus.google.com/app/basic/stream/z12ngbcr1s2derigh04cc1ugwuzgexgb0vo0k
The only issue with that, I fear, would be that they would develop their own form of cryptocurrency, different although very similar, and market it to the mass, mimicking bit coin, but in turn, owning the shares from the very beginning. They would have the media power to cause an explosion that would make them trillion airs, and I think its naive to think that a Wall Street Banker would be a huge part of a currency that is largely held by an underground computer network.
I bet few smart people from wallstreet are already in bitcoin even if only as a hobby. Some of them are tech-savy enaught and looking for any kind of gains. Now there are 20% jumps in one day... imagine what jumps there will be when wallstreet strikes with their money wagons...
It's interesting to observe the media calling BTC a "bubble", when CNBC and the likes were pumping housing even as it was collapsing. I still remember CNBC bringing out David Lereah (National Association of Realtors Economist) to pump housing and lie and say that the overall housing market was healthy and would appreciate another 10% the following year. That was in 2007 and we all know what happened after that. The media dared not call housing a bubble for fear of enraging their corporate sponsors who benefited from the "bubble". Bitcoin is different because it has no corparate master and as a result, the media isn't indebted to it. Additionally, BTC is a potential threat the the media's corporate sponsors (banks, financial entities, etc), so for now attacking BTC is a good thing for them to do. That might change in the future when the financial institutions get involved.
In this present time, nothing is a "bubble" until Wall Street gets its claws into it. We haven't seen "real" exponential growth yet. This in my opinion, is because we're missing 2 fundamental components of a "bubble". Those components being credit + the feed-back loop. We don't have either one of those YET.
We will get credit infused into the BTC market when Wall Street jumps in. They have to jump in, because there is no way that they're going to miss out on an opportunity to fleece the masses. They will pump BTC up through hedge funds and the likes and then as the price soars, they'll publicize BTC's greatness to the masses. There will be BTC experts on CNBC spewing rhetoric as to why this is the new paradigm for commerce.
Once the press gets rolling on BTC then the feed-back loop will go into full swing. Your taxi driver will be telling you how great an investment BTC is. Let's face the facts, who outside of the IT world really knows what BTC is and how it works? Very few! Once the feed-back loop goes into effect, word of the price ascensions of BTC's will spread like wild fire. BTC will be the talk at the dinner table. Then a true "bubble" will begin to form (credit + feed-back loop). This will be unlike any "bubble" ever seen before because BTC transcends national boundaries. EVERYONE will be attempting to get rich. This will truly be a global "bubble".
What will the price of 1 BTC be then? $1,000 - $100,000 - $1,000,000
The price of a BTC when the true "bubble" emerges will be much much higher than it is today and when it is sufficiently high enough for Wall Street, that's when they will pull the plug and that's when the "bubble" will burst. Until Wall Street gets involved, there is no "bubble".
In this present time, nothing is a "bubble" until Wall Street gets its claws into it. We haven't seen "real" exponential growth yet. This in my opinion, is because we're missing 2 fundamental components of a "bubble". Those components being credit + the feed-back loop. We don't have either one of those YET.
We will get credit infused into the BTC market when Wall Street jumps in. They have to jump in, because there is no way that they're going to miss out on an opportunity to fleece the masses. They will pump BTC up through hedge funds and the likes and then as the price soars, they'll publicize BTC's greatness to the masses. There will be BTC experts on CNBC spewing rhetoric as to why this is the new paradigm for commerce.
Once the press gets rolling on BTC then the feed-back loop will go into full swing. Your taxi driver will be telling you how great an investment BTC is. Let's face the facts, who outside of the IT world really knows what BTC is and how it works? Very few! Once the feed-back loop goes into effect, word of the price ascensions of BTC's will spread like wild fire. BTC will be the talk at the dinner table. Then a true "bubble" will begin to form (credit + feed-back loop). This will be unlike any "bubble" ever seen before because BTC transcends national boundaries. EVERYONE will be attempting to get rich. This will truly be a global "bubble".
What will the price of 1 BTC be then? $1,000 - $100,000 - $1,000,000
The price of a BTC when the true "bubble" emerges will be much much higher than it is today and when it is sufficiently high enough for Wall Street, that's when they will pull the plug and that's when the "bubble" will burst. Until Wall Street gets involved, there is no "bubble".
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