Topic: Who will pull a Lingham this time? (Read 335 times)

As a matter of fact, it's easier to find famous positive predictions with btc going over $25k in 2018, than famous pessimists. W. Buffett is pretty negative about bitcoin, he keeps saying it's a useless thing, because it's not representing any real product in contrast with stock. I couldn't find any specific price predictions made by him, though. I also found this Nouriel Roubini economist guy who said back in February that btc will go down to zero. This guy is pretty serious, he has a Harvard Phd degree in Economy and there's an article on CNBC oh his 'noted economist's' views, and yet we all know how wrong he is probably going to be. I choose him as my famous pessimistic guy.

Once sellers outnumber buyers, prices will eventually drop below $10, erasing all gains. This price collapse will occur by the first half of 2014.

As a matter of fact, it's easier to find famous positive predictions with btc going over $25k in 2018, than famous pessimists. W. Buffett is pretty negative about bitcoin, he keeps saying it's a useless thing, because it's not representing any real product in contrast with stock. I couldn't find any specific price predictions made by him, though. I also found this Nouriel Roubini economist guy who said back in February that btc will go down to zero. This guy is pretty serious, he has a Harvard Phd degree in Economy and there's an article on CNBC oh his 'noted economist's' views, and yet we all know how wrong he is probably going to be. I choose him as my famous pessimistic guy.

It's impossible for people to know what dip to buy on the way down, especially if this is their first ever crypto bull run. For them a decrease of 20% is a fantastic entry point, but they have no idea that this market corrects with 75% on average.

It's even a tough call for the more experienced Bitcoiners. I have seen how mostly all of them were extremely hyped up and were really believing that $50,000 was the next stop while the price was still around the $17,000 mark.

Then their ultimate bottom on the way down was the psychological $10,000 mark, then $8000, then $7000 and then $6000. People can act tough all they want, but they were doing nothing but playing the guessing game.

Who else is there? add yours if you know anyone "famous" with a pessimistic prediction so we can monitor how they do.

The main point here is: Some of these guys will look like clowns in the long term because someone always makes an overly pessimistic prediction, which costs money to people that follow said prediction. It doesn't matter if the price goes lower than it is now, someone will get it wrong by a long shot.

Who will then be the next to join the unfortunate list?

He was part of the infamous New York Agreement to get segwit2x going, im not sure he was a BU proponent, he just wanted segwit with 2 MB blocks, the so called "BarryCoin", which was developed by jgarzik under a client called btc1 or something, definitely not the same client and devs as BU.
We tried to tell him that he was wrong and it's was not going to happen but he wouldn't listen.

He sold because he believed one of the pre bcash forks like Bitcoin Unlimited was going to swallow Bitcoin whole which shows how little understanding he had of the whole thing.

Mr. Heart had some entertaining thoughts but he proved to be just another scared kiddie. You can pick up equally interesting thoughts elsewhere without being exposed to disturbing candelabras and less hubris too.

Then their ultimate bottom on the way down was the psychological $10,000 mark, then $8000, then $7000 and then $6000. People can act tough all they want, but they were doing nothing but playing the guessing game.

The number of people who invested substantial amounts of money when Bitcoin was trading at over $15,000 are substantial. And they tried to cost average their holdings when Bitcoin started trending down. And some of them have lost all appetite for cryptocurrencies now and are thinking of exiting at a loss.

The main point here is: Some of these guys will look like clowns in the long term because someone always makes an overly pessimistic prediction, which costs money to people that follow said prediction. It doesn't matter if the price goes lower than it is now, someone will get it wrong by a long shot.

Vinny Lingham sold back in march 2017 expecting way lower prices, I don't remember exactly what figure he predicted but im pretty certain he expected it to go well down into 3 figures again.

Of course, we all know what happened: He sold right at the damn bottom, before the rise to $20,000 started in the following months after.

The key question now is: Someone is going to be this guy. Someone is always this guy. There is always some "expert" of sorts (or anyone with a big Twitter megaphone for that matter) that expects super low prices, and ends up screwing up big several % points, just like Vinny.

We have a Tone Vays prediction of $4900 best case scenario to $1200 lowest case scenario. (remember that he predicted $7500 as best case scenario for a 2017 top)

His friend from "Hyperwave" predicts something ridiculous like 3 $figures.

We got some hedge funds of whatever in Bloomberg predicting $1300

Who else is there? add yours if you know anyone "famous" with a pessimistic prediction so we can monitor how they do.

The main point here is: Some of these guys will look like clowns in the long term because someone always makes an overly pessimistic prediction, which costs money to people that follow said prediction. It doesn't matter if the price goes lower than it is now, someone will get it wrong by a long shot.

Who will then be the next to join the unfortunate list?

Not only he sold for peanuts, he also was supporting 2x.

I remember back in March 2017 that I was expecting the bitcoin price to go under 1000 USD.
Vinny Lingham was just an ignorant guy that was following the short term trends and made a prediction without any good analysis and strong evidence.I can see thousands of traders that are expecting the bitcoin price to crash during the next few months. There will always be guys like Vinny Lingham on one side and John McAfee on the other side.

Dunno. But it's a pretty standard trajectory regardless of which direction you call for. My personal favourite was Richard Heart who got himself a nice wee audience with his lofty commandments. Then the price went south and he started crying and saying Amazoncoin would be the best because you could use it with a bank.

All of these self proclaimed 'thought leaders' seem to wind up going batty in the end. Far better to stay modest and real.