James Altucher, Formula Capital managing director, and Spencer Bogart, Blockchain Capital managing director, break down what drives the bitcoin demand, its use and projected earnings.
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Understanding Bitcoin’s Surge And Its Use Around The World | CNBC
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smartbitcoin
Is someone willing to give me a bitcoin
There is a lot of dumb money flowing into Bitcoin. Hedge funds were buying it up around the 1000 dollar range. Institutional investors give you the illusion that they are going to invest billions into Bitcoin, so you might believe that Bitcoin will hit 100k someday. But they already bought it up during the bear cycle that followed the mtgox crash. The price of Bitcoin has been artificially pumped by unregulated tethers.. I could write a whole page why Bitcoin is a big ponzi … Do your homework it's your money.
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I dont think we want Wall Street to be getting on anything right now, saw what happen in 2008? And there hate towards bitcoin is only going to get worse and worse, they want the government to take over everything in peoples lives so they can crash it anytime they please.
It takes 2000 dollars to make 1 bitcoin, it will never drop below 2000 dollars…
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Butcorn's just a debit card. No way to reverse a fraud transaction or Nigerian kidnapper ransom scam. and if Private key's lost? Zero reason for ubiquity, prevalence, or adoption. Also manipulated by hedge funds, speculators, day traders.
That is SO IRRESPONSIBLE …. 95% are scams. He has no idea what he is talking about. Yes some are scams … 95% is simply wrong.
Agree about BtC not needing to be transactional and I'm sick of the news people who clearly did ZERO research
All this hype over bitcoin, people need to be talking about ether. The network simply more sophisticated than that of bitcoin, it is capable of doing a lot more than the bitcoin blockchain. The blockchain is not only for the currency but also for decentralised app development. Ether is going to surpass bitcoin pretty soon
If it's not going to be used as cash, it will end up imploding.
Only the greater fool will buy it if it has no utility aside from being artificially scarce.
People need to use it as cash for it to continue to rise in adoption in the long run.
Some of the altcoins are just there to absorb money when people panic sell. Scammers are taking advantage of that. There are good altcoins with promising futures. Bitcoin has the best future.
That dude really asked why bitcoin won't go to a thousand? LOL. If it got to 1000 so many people would buy that dip. It would never reach 1000. People would buy in like crazy at 6000 grand.
BITCOIN is not backed by Gold or anything
Btc will fall bad on 2nd Jan 2018..
these oldies are gonna hate when so many new millionaires are going to rise from crypto, thats what hurts them right now and these banks. when top 1% becomes top 10% it wont be as much fun for them. rising crypto is like 2008 for them =D
IOTA
This project is amazing do your research!!!
Going up steady today!!!
https://www.binance.com/trade.html?symbol=IOTA_BTC
Something that is based on pure speculation will not last.
Yeah thank Obama for never presenting it the American People
altucher is a douchetoucher
5
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who else thought he said we need familiar rappers like Future to put Bitcoin into context?
Nice video sir ji
does he have small hands?
What I wanna know is .. When people are buying bitcoins they are paying for it with local currencies like the US$ .. where does that end up?! Does it go to the bitcoin exchanges, does it go to the mining companies .. where does it go?? The cost of handing out bitcoins to the intermediaries is the cost of people cashing out on bitcoins through the same intermediaries. When more and more bitcoins are being purchased, the intermediaries are laughing all the way to the traditional banks as they raking in the US$ profits. If this is not a ponzi scheme I do not know what is! On the other hand, government which prints money also pay for peoples' wages, infrasturcuture for society and social security. What does Bitcoin do for the world? Is Bitcoin going to pay me a pension or is Bitcoin going to give me medical treatment if I am sick like a government does? If this global currency is adopted and the role of governments diminished there will be nothing but anarchy in this world and we will all live like wild animals on this Godforsaken Earth!
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The Bitcoin Community, which I am proud to be a part of, know more than CNBC now. Its amazing.
my bitcoin are missing…… https://youtu.be/iONzmt8eWtY
love how everyone talks about how many “$” they are making with bitcoin. If bitcoin is so good you wouldn’t want to be making dollars, you would just want to keep your bitcoin, and never ever exchange it for $. SMH ?
bob dylan is a believer!
hitler did nothing wrong
Bitcoin under 40,000 is bargain, IMO. It shouldn't have any problem hitting 40 by the end of 2018 … probably sooner.
All of these cats have no idea what they are talking about…..classic
james is the man
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As far as my understanding of Bitcoin in relations to it being a bubble is this: If Bitcoin is a bubble, theoretically speaking, their would be no potential or business in which this currency could be of use. But, Bitcoin has already established it's legitimacy already on American soil and overseas. Their are online websites, brick and motor stores which accept Bitcoin people. And to my extensive knowledge of entrepreneurship and financial research, There is so much potential for more businesses, and brick and motor stores to accept Bitcoin as a potential currency. If Amazon today started to accept Bitcoin for transactions, you might not think it could possibly be a bubble. And Amazon still to this day might potentially accept Bitcoin as currency in transactions so who really knows. I believe that if enough people put enough of their primary currency into Bitcoin, a universal currency, overtime, that we can have our first world-wide accepted currency. It's funny to think that we could exchange our USD, Euro's, and Yen for this universal, decentralized currency. The potential for everyone to use the same exact units of currency is great. This to me sounds a lot like one world, one nation to me. A start that is. Peace.
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REPLY
1 bitcoin is not worth a brand new car. And five years from now, 1 bitcoin will not be worth a 100000 house. People who are paying this much for bitcoin are simply under a craze. If people don't sell their bitcoin for these high prices, then these people are much more greedy than any banker. Bitcoin is not a currency? Lol what is it? A nothing? Worth 1000000 ? Lol you better hope suckers keep buying
James Altucher does not know what he is talking about when it comes to cryptocurrency tech. He say 95% of all alt coins are a scam which is totally false and something a bitcoin maximalist would say.
Bitcoin does not solve the double spending problem or the privacy issues he claimed. Bitcoin can be double spent and the privacy is limited. Other similar coins out there like Dash (Digital Cash) does solve the double spend problem and has way better privacy than bitcoin. Dash in fact has double speed proof 1-3 second "instant transactions" whereas bitcoin takes 10 minutes or more for just one block confirmation. Dash also cost pennies to send and bitcoin cost up to $10-20 dollars plus.
"Bitcoin cash" has all the same issues as bitcoin with the exception of larger blocks which provide cheaper transactions like Dash.
Litecoin is a pretty boring copy coin with all the same issues as Bitcoin Cash and is not really needed anymore. It has been around since a few years after bitcoin was invented and that is pretty much all it has going for it.
Neither one is a scam though, just flawed compared to other newer altcoins now available, they will probably be around for a while though.
Stick to the top 10 coins and you will be ok, even most of the top 50 coins are ok but there are definitely a few scam coins and many coins with no long term future in there.
This is not financial advice from an anonymous dude on the internet so don't listen to me.
Man were these geeks so right. Only if I would have known how Satoshi Nakamoto's creation worked.
The look on Spencer's face when McAfee is mentioned…
His hair tho. lol
What study did he quote that say 95% of altcoins are a scam?
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