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Barry McCockinner

Prediction: Bitcoin Will Hit $100,000 by the end of 2021

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3 hours ago, joewilly said:

Love this response Villian. Very well thought out and articulated. Makes a lot of sense & is by no means condescending.

Gotta run, there's an all in buy alert happening on the Motley Fool site.

Thanks. However my guy South seemed not to care for it too much tho. 

To each his own at the end of the day. 

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17 hours ago, Villain The Foe said:

Thanks. However my guy South seemed not to care for it too much tho. 

To each his own at the end of the day. 

Please tell me what are the fundamental under pinnings that drive the value of bitcoin upwards and why any one, other than in speculation, would believe it should go higher.  I have no problem with Bitcoin but I see it as speculation, much like buying Gold. It is quite impressionable what BC is and has done.  

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On 2/20/2020 at 4:56 PM, southparkcpa said:

Please tell me what are the fundamental under pinnings that drive the value of bitcoin upwards

1. Bitcoin is based upon a public cryptographic ledger, not private. Literally anyone, whether you own BTC or not, can go to a BTC blockchain explorer and see every transaction that has occurred on the chain. There is no need for trusting a 3rd party or private entity to complete transactions domestically/internationally and you can access "the books" at anytime, 24 hours a day, 7 days a week. 

2. Peer-to-Peer Transactions can be submitted immediately. No need for business hours, frivolous verification process or delays with making transactions with this particular currency. 

3. Bitcoin is the primary base trading pair to a $300 Billion dollar crypto market that has over 5,000 separate crypto projects. BTC still is the primary and most known gateway into the cryptocurrency market given that it has the most trading pairs of any other cryptocurrency by far. BTC's dominance in this $300 Billion dollar market is currently at 63%, which also makes BTC the most liquid/tradable asset in the space with a marketcap of over $177 Billion. 

Quote

and why any one, other than in speculation, would believe it should go higher.  I have no problem with Bitcoin but I see it as speculation, much like buying Gold. It is quite impressionable what BC is and has done.

 

1. There's close to 50 million Bitcoin wallets that have been opened. 

2. There are 8 million active users within BTC.

3. The leading US BTC crypto exchange, Coinbase, which began in 2012 and serves 32 countries has a total of 13.3 million users. 

4. Bitcoin has been considered as a viable alternative in countries with massive financial/economical instability such as Venezuela, Africa (countries within), Colombia etc. It's safe to say that anyone who looks at the economic climate knows that this interest-based debt system is causing major problems. There are folks globally that are reacting to these issues by gravitating to things a bit more decentralized, like BTC, or things that are intrinsic, private, internationally recognized with personal custody such as Gold/Silver/PM's. 

I also dont believe that you have a problem with Bitcoin. I do however believe that you've been quite successful for a long time in your space so there's no real interest to entertain this space. The general purpose is to secure your financial freedom, and that is the way you've done it.

I just wanted to answer your questions because there are things beyond speculative trading that is underpinning BTC or other crypto projects. 

I mean, if I wanted to get into Crypto in general I could talk about how BlockOne (Creator of the EOSio software which the leading 3rd Gen blockchains are currently using) have submitted millions of dollars to Virginia Tech in order to add a blockchain course to their Computer Science department, while at the same time BlockOne has set up their US office in the same town in order to then hire those newly graduated developers in order to work on building their brand and blockchain software. BlockOne is a 4 Billion dollar international company, and blockchain that is handling the most transactions of any other project in the space (EOS) runs on their software. 4 of the top 10 blockchains with the most transactions in the space either use EOSio software, or their consensus algorithm is "Delegated Proof of Stake", which is a creation of Daniel Larimer, Virginia Tech graduate and the Co-Founder of BlockOne, which is the same Algorithm that the EOSio software is based on. 

Competitive gaming is one of the biggest emerging markets in the world. The largest digital assets exchange in the world, "OPskins" just transitioned over to crypto in 2017 under Harvard Graduate and CEO of Wax.io, William Quigley's blockchain. 

The Wax blockchain is a customized version of EOSio. 

The Ripple/XRP project which is currently the 3rd largest crypto project in the world in terms of marketcap, have some of the biggest names in the world of tech funding them through their venture capital divisions, such as Google and Seagate. Ripple was also awarded "Technology Pioneer" by the World Economic Forum. 

 

Brother, there is speculation happening in this market, just like in every market. Every market has traders, however, there are legit things happening in this space and there are companies like BlockOne working directly with Washington DC in order to maintain regulatory compliance for example. There are Permissioned Blockchains being created to where once KYC is instituted on the blockchain, any company on the blockchain looking for customers can deal with a potential account/wallet and if business is established then smart contracts can submit whatever personal information from the account holder to satisfy KYC so users dont have to do KYC for every individual app or company that they deal with. They have one account, and that information is encrypted on the chain, and only accessed once an owner of the account provides access to the company they're looking to do business with. LIfe insurance and family Will's are being put on the blockchain, with assets put in escrow and dealt with via smart contracts. Cold wallets, hardware wallets, all forms of interfaces are being created for the convenience of folks to interact with the blockchain. 

 

I can go on for hours! lol. :-)

 

As I said earlier when I compared this moment to the "dot.com" bubble. Not all of these projects are going to succeed. However, this IS happening. And this is still early enough to call this the infancy stage and for folks to find that there's much more to this space than BTC. The Crypto space is a real thing, it's global, it's progressive, it's accessible, it's verifiable, and it's scalable. 

You dont have to be a computer wiz to access this the space as it seemed like you had to be 5 years ago, but access is still a tad cumbersome, such as having to deal with private/active keys. However, with progression things will be simplified and made more efficient. 

 

Nothing stated was based on price speculation, but technological promise and potential. 

 

 

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23 minutes ago, Villain The Foe said:

1. Bitcoin is based upon a public cryptographic ledger, not private. Literally anyone, whether you own BTC or not, can go to a BTC blockchain explorer and see every transaction that has occurred on the chain. There is no need for trusting a 3rd party or private entity to complete transactions domestically/internationally and you can access "the books" at anytime, 24 hours a day, 7 days a week. 

2. Peer-to-Peer Transactions can be submitted immediately. No need for business hours, frivolous verification process or delays with making transactions with this particular currency. 

3. Bitcoin is the primary base trading pair to a $300 Billion dollar crypto market that has over 5,000 separate crypto projects. BTC still is the primary and most known gateway into the cryptocurrency market given that it has the most trading pairs of any other cryptocurrency by far. BTC's dominance in this $300 Billion dollar market is currently at 63%, which also makes BTC the most liquid/tradable asset in the space with a marketcap of over $177 Billion. 

 

1. There's close to 50 million Bitcoin wallets that have been opened. 

2. There are 8 million active users within BTC.

3. The leading US BTC crypto exchange, Coinbase, which began in 2012 and serves 32 countries has a total of 13.3 million users. 

4. Bitcoin has been considered as a viable alternative in countries with massive financial/economical instability such as Venezuela, Africa, Colombia etc. It's safe to say that anyone who looks at the economic climate knows that this interest-base debt system is causing major problems. There are folks globally are reacting to these issues by gravitating to things a bit more decentralized, like BTC, or things that are intrinsic, private, internationally recognized with personal custody such as Gold/Silver/PM's. 

I also dont believe that you have a problem with Bitcoin. I do however believe that you've been quite successful for a long time in your space so there's no real interest to entertain this space. The general purpose is to secure your financial freedom, and that is the way you've done it.

I just wanted to answer your questions because there are things beyond speculative trading that is underpinning BTC or other crypto projects. 

I mean, if I wanted to get into Crypto in general I could talk about how BlockOne (Creator of the EOSio software which the leading 3rd Gen blockchains are currently using) have submitted millions of dollars to Virginia Tech in order to add a blockchain course to their Computer Science department, while at the same time BlockOne has set up their US office in the same town in order to then hire those newly graduated developers in order to work on building their brand and blockchain software. BlockOne is a 4 Billion dollar international company, and blockchain that is handling the most transactions of any other project in the space (EOS) runs on their software. 4 of the top 10 blockchains with the most transactions in the space either use EOSio software, or their consensus algorithm is "Delegated Proof of Stake", which is a creation of Daniel Larimer, Virginia Tech graduate and the Co-Founder of BlockOne, which is the same Algorithm that the EOSio software is based on. 

Competitive gaming is one of the biggest emerging markets in the world. The largest digital assets exchange in the world, "OPskins" just transitioned over to crypto in 2017 under Harvard Graduate and CEO of Wax.io, William Quigley's blockchain. 

The Wax blockchain is a customized version of EOSio. 

 

Brother, there is speculation happening in this market, just like in everymarket. Every market has traders, however, there are legit things happening in this space and there are companies like BlockOne working directly with Washington DC in order to maintain regulatory compliance for example. 

 

As I said earlier when I compared this moment to the "dot.com" bubble. Not all of these projects are going to succeed. However, this IS happening. And this is still early enough to call this the infancy staget and for folks to find that there's much more to this space than BTC. The Crypto space is a real thing, it's global, it's progressive, it's accessible, it's verifiable, and it's scalable. 

 

 

Thats all fantastic and your knowledge is impressive (Glennon aside :)) but what I am asking sincerely, is what outside forces drive up or down the price of Bitcoin? What factors affected it's rise, it's fall and rise again?  I recognize it is here to stay and certain economies of the world have currencies so volatile, Bitcoin has become acceptable.  I don't see it as a currency as much as a tradeable asset.  But yes, its here to stay.  

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17 minutes ago, southparkcpa said:

Thats all fantastic and your knowledge is impressive (Glennon aside :)) but what I am asking sincerely, is what outside forces drive up or down the price of Bitcoin? What factors affected it's rise, it's fall and rise again?  I recognize it is here to stay and certain economies of the world have currencies so volatile, Bitcoin has become acceptable.  I don't see it as a currency as much as a tradeable asset.  But yes, its here to stay.  

Supply and demand - and the supply takes a big hit on May 14th. Like gold, it is valuable partly because it is scarce. The block reward will be cut in half from 12.5 to 6.25. Unlike Gold - there is a maximum that will ever exist. It's also a little easier to move than gold.

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6 hours ago, southparkcpa said:

Thats all fantastic and your knowledge is impressive (Glennon aside :)) but what I am asking sincerely, is what outside forces drive up or down the price of Bitcoin? What factors affected it's rise, it's fall and rise again?  I recognize it is here to stay and certain economies of the world have currencies so volatile, Bitcoin has become acceptable.  I don't see it as a currency as much as a tradeable asset.  But yes, its here to stay.  

The same forces that cause markets to go up in down in similar markets. For example, we have the financial aspect of these markets. Once Ethereum created their blockchain and implemented something new called "Smart Contracts", meaning that programmers can implement code that can self execute under a determined set of rules on the blockchain. This allowed for the ability to finally create and build blockchain projects/companies. Once this took hold and the "ICO" (Initial Coin Offering) was created in 2017, that news moved the market tremendously. 

We also have the economical aspect of it, such as when the SEC and other policy makers who laughed at the space years ago, but then decided to submit all sorts of "cease and desist" notices to projects. Seeing that blockchain projects were raising money at world record numbers. To be fair, many of those ICO's were total scams, just like many of those dot.com's. However, the answer to the problem didnt come from the SEC throwing around cease and desist notices as if it was going out of style. The FREE market realized through the scam practices that they needed to find another way. 

In comes the "Airdrop/Airgrab" method. Grass roots projects looking to fund their project can give their tokens away for free and earn money doing so. How the hell does that work? Check this out. Say if I want to build my own blockchain using EOSio software to do so, I know that the main blockchain in that space (named EOS) is the chain that has the most wallets/active users. I can create my own EOSio chain and create a "fork" of the EOS chain and depending on where I fork off of that original EOS chain, Im able to take a "snapshot" of all of the accounts that are open during that timeline of the blockchain. Say if I have 500 million tokens created for my chain, and during that EOS snapshot there were 1 million total accounts that I can airdrop my token to. What I can do is give out 400 million of those tokens for free (airdropping those tokens to those 1 million accounts in any method I decide) and then wait until the token hits centralized/decentralized exchanges and folks begin to trade the token. What happens is something called "Price discovery". Once those tokens begin to trade and are paired with other tokens, a price is created, and the 100 million tokens that I have now have a market value. No one had to buy into an ICO and risk anything. Matter of fact, I essentially gave people free money while creating the ability to fund my project simply by holding a portion of those tokens and waiting for a price discovery. 

This new way of creating wealth and being able to fund your project has never been done before...which moves markets when folks understand that sort of potential to fund their own ideas.  

And of course trustworthiness and adoption has it's place....as well as speculators. 

 

This market is no different than any other. It's just smaller so has much more volatility for a global market if compared to a market like the Forex which trades 5-7 Trillion daily. 

 

Oh, and Mike Glennon would have been a Jets legend had the Johnson's took my advice. lmao. 

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@Villain The Foe

Can you give me cliff notes? I've almost hoped in a few times but I'm curious if you agree with Barry

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Here's a guy who does a youtube channel that focuses on market analysis - mostly crypto. He does get into more traditional markets too. Anyway - he knows his stuff and his channel is worth a watch if you're thinking about getting involved. IMO.

His most recent video:

 

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Did you guys know that the smallest unit of bitcoin is worth the same as a Schrute buck?
 

Quote

"The smallest unit of a bitcoin is called a satoshi. It is one hundred millionth of a bitcoin (0.00000001) – at today’s prices, about one hundredth of a cent."

 

 

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20 minutes ago, Jetsfan80 said:

Did you guys know that the smallest unit of bitcoin is worth the same as a Schrute buck?
 

 

 

What exchange can I purchase schrute bucks on?

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2 minutes ago, Barry McCockinner said:

What exchange can I purchase schrute bucks on?

The same place where they sell stock on Stanley Nickels.  

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9 hours ago, CTM said:

@Villain The Foe

Can you give me cliff notes? I've almost hoped in a few times but I'm curious if you agree with Barry

If you're seriously interested in understanding bitcoin in particular, follow a gentleman named Andreas Antonopoulos. 

Though he's a "bitcoin maximalist" which I am not, when it comes to the bitcoin space specifically there's really no one else in the space that is more knowledgeable in my opinion. He approaches it from both a practical and technological position. 

Im personally not into bitcoin (cryptocurrency/money) as there are many more options to use that dont require a transaction fee, and are instant for example. Bitcoin is still worthy of taking the time out to learn about it's history given that it's still the premier currency and blockchain asset. 

Im more into what can be built on the blockchain through using smart/ricardian contracts and other tools. Two very interesting projects IMO are Telos (founded by Douglas Horn) and Wax (spoken of earlier) that fit into that category.

Both projects use EOSio software, with Telos being a fork from EOS directly, but both projects have fantastic ideas and a very strong and active community. 

Also, if you're going to dive into this world, get a twitter and a telegram account....especially a telegram account. Many projects set up telegram chatrooms and you can get all of the information/conversations directly to your phone/desktop. 

 

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On 2/20/2020 at 8:56 AM, southparkcpa said:

Please tell me what are the fundamental under pinnings that drive the value of bitcoin upwards and why any one, other than in speculation, would believe it should go higher.  I have no problem with Bitcoin but I see it as speculation, much like buying Gold. It is quite impressionable what BC is and has done.  

Everything is speculation.  Gold has value because it is a medium of exchange.  It has stored value.   That's a real question for Bitcoin future.  Does it become a medium of exchange and have real stored value as a medium of exchange?

If you buy a 10 year US treasury note bond today at 1.4% and the federal reserve has a target inflation rate of 2%, that's also speculation.

I've made short term speculative bets that paid and long term investments that failed.  I'm not in because I don't fully understand it and don't use it as a currency.   

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On 2/14/2020 at 1:20 PM, Barry McCockinner said:

Good post. It's a very interesting market because there's never been anything quite like it and no one really knows what's going to happen. The news loves to focus on the negative but your point is 100% true. 8 cents to 10k in 10 years. That's insane returns if you got in that early. So far, anyone who has got in between halvenings at low points also did very well. It's not unreasonable to think the market will react as it has previously although it is a small sample size.

I got involved around the same time as you, maybe a little earlier. I remember the price being between 2 and 3 hundred when I first got interested. I thought it was a ridiculous price then!

If you haven't already checked out LINK - do so. It had a massive 2019 and should be a monster during the next bull run given its utility.

$LINK 🔥🔥🔥

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22 minutes ago, Barry McCockinner said:

$LINK 🔥🔥🔥

Link?

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On 3/12/2020 at 7:49 PM, Barry McCockinner said:

Brutal week for crypto 👀

So... when I bought my 1st IPhone I was impressed.. back in 2010 or so. bought a LOT of Apple Stock after using the phone.   3 years ago, put 50K in Amazon.  I’ll take real companies, over spec currency any day. 

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12 minutes ago, southparkcpa said:

So... when I bought my 1st IPhone I was impressed.. back in 2010 or so. bought a LOT of Apple Stock after using the phone.   3 years ago, put 50K in Amazon.  I’ll take real companies, over spec currency any day. 

I'm happy for you. I always like to see people do well.

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12 hours ago, Barry McCockinner said:

Damn I'm glad I asked I almost bought the stock link, but it didn't look so great so I asked. I bought 100 shares of chain link at 2.32 just wish I bought a whole lot more. I also followed your advice on bit coin. I bought a half a coin at 5800.00 I was thinking it may go down a little more and I would buy the other half but it just went straight up from there. That's definitely a good thing because I doubled my money, but I'm still hoping for a drop to buy the other half coin. I want atleast 1coin. If it gets down to the 8s I'll get another half. Anyways keep the tips coming. I'm new to all this stuff and had been wanting to dabble and you motivated me to do it. 

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18 hours ago, southparkcpa said:

So... when I bought my 1st IPhone I was impressed.. back in 2010 or so. bought a LOT of Apple Stock after using the phone.   3 years ago, put 50K in Amazon.  I’ll take real companies, over spec currency any day. 

What do you think about plug power btw?

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2 hours ago, Barry McCockinner said:

What do you think about plug power btw?

Hmm... never heard of it before but interesting.  I’ll throw some cash at it tomorrow and see.😂

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