RT @coindesk: "#Bitcoin is a currency that is accepted everywhere without any government friction or interference, a stored value solution that doesn’t require a holder to keep a room full of metals and art." @TimDraperhttps://t.co/tO22LHhogN #BitcoinAt10
RT @CCribz: A good read👍
“It is here to bank the unbanked, to democratize economic opportunity and to reevaluate governance”.
#Bitcoin #Banking #blockchain #500GamePlan https://t.co/k5oJberS9K
Xinxi Wang [Not giving away any crypto] - @TheRealXinxi1 week ago
'The long-term vision for bitcoin is to give the world economic emancipation. The potential if bitcoin is only limited by the imaginations of the entrepreneurs who work to drive this new virtual economy."~@TimDraperhttps://t.co/ovgapAS4eP
RT @zhusu: .@TimDraper is the great chad of chads. Lose 30k $BTC that you bought on Gox for $6--dont blink and just rebuy 30k BTC in Silk Road auction at $632. First price target $250k.
Zoom out and you realize $6, $60, $600, and $6k are all basically the same entry if you're right. https://t.co/0g8z1gn7hW
Another fluff piece for the already indoctrinated. What we need - is for people who do NOT believe in bitcoin, or understand it, to hear from this guy. Until that happens, price will not go up, and adoption will not happen.
Also, he fails to mention bitcoin is NOT federally insured, so...no way most people will touch something not insured, that you can lose all your money by one wrong click. (No mention of this ???) No wonder this dude thinks its going to 250k...clueless people in tech...having no idea about the average consumer and what actually concerns the average person.
It might achieve half of what he is talking about - meaning. You will be lucky to see 112k, and...probably half that. (60k would be good....)
Lastly - a stable coin or bank coin can do pretty much all of those things mentioned - again, meaning bitcoin may get none or only a fraction of that activity. 30-55k is a more realistic reality.
North Korea ? ...also normal citizens finally were buying in.
I was in an Uber and told my Uber driver to get a coinbase account and buy some Bitcoin and explained it all to him ...
There was a moment where the common population saw these gains and wanted in. Then right after Christmas, the big banks got together and banned all credit card purchases. This is mainly how the common citizen was getting into crypto. Since that time. (Last January). The market has NEVER recovered since then. (Also again possible North Korea or Russia could have been propping up or spiking the price at times.also...pump n dumps were prevalent in that 2017 run up, and again, in early 2018 they were made to be illegal by the SEC. There is virtually no more mooning of any coins, and the market is pretty much stagnant for a whole year. Between credit card bans and no pump n dumps the market has been like dead. And the banks aren't going to just lift those restrictions, nor will the SEC allow pump n dumps again
So - a better question would be: How is it even going to go up to 20k again ?
Personally I believe that's back to front.
I think that Store of Value arises as an *emergent property* of a usable daily currency that can be used for coffees or cars.
1Tim1_151 - 2 years account age. 200 - 1000 comment karma.1 week ago
I agree with the title. I just can't bring myself to click through to any CoinDesk article. They have ownership stakes in many crypto companies...usually the companies about which they write positive articles and don't write anything critical of them.
These are crazy numbers and I don’t see it happening in our lifetimes. You can be hyper bullish on bitcoin without its prices touching six figures in our lifetimes. 44 years of 8% average returns, better than most alternative, gets you to $100k. That’s 2063. If you are an investor you shouldn’t expect to get rich quick anymore. Do you want to hold crypto for 20-30 years and maybe outperform stocks just barely? That should be the expectation going forward
~x70 price in 3 years is not impossible for something with a relatively low market cap (if you bought exactly 3 years before $20k ATH and sold at the tippity-top, you came pretty close @ ~x63, though we know what happened if you hodlded). Overlooking that x63/3yrs was true (for BTC) for just one day (AFAIK), this was a rise from ~$320 to $20k, this sort of gain is unlikely once you hit the [second half of the chessboard](https://en.wikipedia.org/wiki/Wheat_and_chessboard_problem) <=click to ~~study~~ understand how exponential growth works.
TL:DR: Mom has $100 in her purse; Eddy takes $1 on Monday. Pilfering 63 times more ($63) on Tuesday won't be a problem. On Wednesday, OTOH, snagging x63 more won't happen -- not because newfound scruples, but because Mom doesn't have $63 * 63 = $3,969 in her purse.
While many are cynical about the growth of btc (including me) and that the only people promoting it have a vested interest in seeing it succeed so they to can be wealthy, when you see a guy like this, while having a vested interest (30k btc) in seeing btc succeed, he doesn’t need it to happen to be successful or wealthy. He’s already a billionaire in his own right and doesn’t need to keep pushing it unless he truly does believe in it. If he really thought btc was pointless and worthless, he could throw away the private key to his 30k btc and would barely notice the chance in his wealth. He’s saying this because he believes it. I mean, he has an epic track record. Why would he risk it if he thought btc would fail.
He understands that on one side of the equation, his fiat is being devalued to the tune of 80 billion dollars of freshly created (out of thin air by a select privileged few (about 8,000 people globally)) every month and on the other side of the equation his bitcoin is NOT being created out of thin air by a select privileged few.
This man cashes out to Bitcoin.
I would recommend doing likewise.
The term 'track record' should come with a % success. How many bets has he made and how many have succeeded? Most VCs only expect 1 in 10 to make up for their portfolio. Is he batting more than 10%? You can make mistakes, but we should quantify success if we want to talk about one person's 'track record' being impressive.
Tim bets on the revolutionary. Theranos had a chance to be that, but its technology wasn't up to par with what they were advertising. Tim got into Theranos early because his daughter went to school with the founder; so, he might have had a huge chunk at a low cost. It's even possible that he made money despite it failing. All-in-all, Tim is a great guy and bitcoin plays into his ideology. He doesn't have full faith in government and you can see it with his six California's proposal. Although it sounds crazy on the surface, it would make the states more competitive and give the underrepresented areas more and better representation.
To the 3 commenters so far who gave positive comments, thanks.
Normally, I pass on these types of article links. But your very positive comments got me to read the it.
Yes, I concur, very good article and good read. He is definitely a big picture guy.