Bitcoin is going nuts today

[busygin]

Crypto-hurt instead of crypto-riches. That's, unfortunately, the environment where BitShares must proceed with the marketing...

My guess is that hedge fund money is accumulating and positioning for a drive to $10k/BTC once the ETFs are live.

You will see the log charts all over the media guaranteeing $10k per coin based on previous bubbles.

Retail investors will throw a few bucks into the ETFs and it will become a self-fulfilling prophecy.

Next leg up to $100k will be retail + institutional + sovereign wealth trying to jump on the train, say 2-3 years.

By then BTS will be mature, investors will have gotten a taste of crypto-riches and the moon rocket will launch.

5 years BTC could be $100k and BTS could be $100.

[donkeypong]

Agree completely! The ride to $1 is going to be interesting.

This trillion-dollar-pie-in-the sky speculation can provide useful perspective.

To the crypto community a market cap in the billions or tens of billions seems enormous.

In the fiat world billions are nearly trivial when it comes to asset classes and investment vehicles.

I believe folks are going to be stunned when a crypto really catches on; there is just so much liquid wealth sloshing around right now, looking for yield. Give it a place to park and look out.

And along those lines, I hope you've all seen this recent Coindesk article (link below). It seems that many general businesses and individuals (almost 80% of them!) already believe that they'll soon be using digital currencies. They are not users yet, but they "plan to adopt" digital currencies in the future. And the survey of individuals showed the same #. SO maybe there is less work to be done than we thought. It still will be a hard climb, but man, if we show these folks a great product, BitUSD should be in great shape.

http://www.coindesk.com/hp-survey-79-us-organisations-plan-adopt-digital-currencies/

[oldman]

I'll be convinced it can reach 100$/BTS the day I'll see BTS talked about on every financial channels on TV as the new way to do smart banking, and when traditional banks try to shut BTS down with some lobbying to legislators because they feel threatened.

We're a long way to even get 1$/BTS, which is 50 times more than the current value.

We need to start crawling before running.

We should manage our expectations a little...

Agree completely! The ride to $1 is going to be interesting.

This trillion-dollar-pie-in-the sky speculation can provide useful perspective.

To the crypto community a market cap in the billions or tens of billions seems enormous.

In the fiat world billions are nearly trivial when it comes to asset classes and investment vehicles.

I believe folks are going to be stunned when a crypto really catches on; there is just so much liquid wealth sloshing around right now, looking for yield. Give it a place to park and look out.

[CLains]

*breathing in deeply*

[Chuckone]

I'll be convinced it can reach 100$/BTS the day I'll see BTS talked about on every financial channels on TV as the new way to do smart banking, and when traditional banks try to shut BTS down with some lobbying to legislators because they feel threatened.

We're a long way to even get 1$/BTS, which is 50 times more than the current value.

We need to start crawling before running.

We should manage our expectations a little...

[Ander]

So much for all the excitement about walls. Its back to 0.123 CNY

Should've held onto some BTC to buy now. I started buying around 7.3k sats (ouch!)

Yeah, as soon as the BTC started dropping, so did BTS.


Still, we are in better shape than before.  We pushed through the resistance between .12 and .13.  Should be easier to go up next time.  It took a ton of dumping to push us back down.  Hopefully a lot more of the people who didnt like the merger, but who didnt want to sell at the low, just sold the first rise, leaving BTS in even stronger hands.

[jsidhu]

Lets start marketing first lol

[oldman]

My guess is that hedge fund money is accumulating and positioning for a drive to $10k/BTC once the ETFs are live.

You will see the log charts all over the media guaranteeing $10k per coin based on previous bubbles.

Retail investors will throw a few bucks into the ETFs and it will become a self-fulfilling prophecy.

Next leg up to $100k will be retail + institutional + sovereign wealth trying to jump on the train, say 2-3 years.

By then BTS will be mature, investors will have gotten a taste of crypto-riches and the moon rocket will launch.

5 years BTC could be $100k and BTS could be $100.

My chart is telling me your numbers are at crack smoking levels 

Ha! Will be fun to look back on this in a few years.

But consider...

Total global wealth is about $220 trillion USD.

Assuming 2.5 billion BTS outstanding $100/BTS would require about 0.1% of global wealth migrating into Bitshares.

This is entirely possible and plausible.

Now also consider that a $250 billion market cap absolutely does not require $250 billion of capital to migrate directly.

The actual amount of capital migrated will be much less due to supply-side shortage caused by the early adopters on this forum (hodl!).

Nowhere near $5 billion in capital has migrated into BTC; I would be astonished if total fiat migration was >$100 million at this point.

$400/BTS or $1T cap for BTS would only require 0.45% of global wealth to migrate...

I know these huge numbers seem batshit crazy from where this community stands now, but I don't think the future value of BTS can be underestimated.

[sumantso]

So much for all the excitement about walls. Its back to 0.123 CNY

Should've held onto some BTC to buy now. I started buying around 7.3k sats (ouch!)

[Ander]

And now we have an 800k BUY wall at .133!!

[joele]

This is good news, the rise of bitcoin also follow the rise of all active crypto coins.

[Ander]

Only problem is bts btc is not climbing... Its severly oversold.. I wanted it to be around 8k satoshi or so.. Putting us around 0.22-0.25 cny

Not yet, still could happen though.

[jsidhu]

Only problem is bts btc is not climbing... Its severly oversold.. I wanted it to be around 8k satoshi or so.. Putting us around 0.22-0.25 cny

[Ander]

Bitcoin also looks on the verge of breaking upward again.

This time with our resistance gone, we could go right up with it.

[Ander]