“A technology is called “disruptive” if it creates a new market that first disturbs and then displaces an earlier technology.Bitcoin is potentially such a technology and much more. The fact that it can disrupt the largest and most interconnected marketplace in the world—money, banking and finance—makes it perhaps the most promising investment opportunity of our age”
“With a risk-reward proposition this attractive, holding a small percentage of bitcoins in one’s portfolio as a speculation on increased adoption may be one of the wisest investment decisions of our age”
“The digital currency, which just turned eight years old, reached $1,140.64, which was higher than the $1,137 it hit in November of 2013. In December, bitcoin also surpassed its previous all-time high in total market capitalization, which now exceeds $16.1 billion”
“The latest increase was driven by capital or currency restrictions in countries ranging from China to India and Venezuela, where people purchased bitcoin to protect their savings, as well as increased adoption by investors. The digital currency beat every other currency, stock index and commodity contract as an investment last year”
“The last 5 days have seen Bitcoin prices (in dollars) soar over 18% and over 20% in Yuan as volumes on Chinese exchanges continues to build, seemingly anticipating notable Yuan devaluation (confirmed by various derivative bets being placed on the Chinese currency) and/or further capital controls looming as yet another hot money Chinese bubble explodes in commodity-land
“Last week saw the heaviest Bitcoin trading ever on Chinese exchanges…
[Editors Note: “As I predicted at the end of 2015 in my video ‘Why Bitcoin price could hit all time highs in 2016” With the price at $326 there were so many reasons why Bitcoin was severely undervalued against its NAV. In 2016 they all came to fruition with Bitcoin currently trading at 2016 highs of $940]
“Bitcoin’s market capitalization sailed past $14.5 billion as the price of a single coin traded as high as $913 a coin on Friday, according to Coin Market Cap, as its market capitalization to sail past the $14 billion mark, eclipsing the market value of, say, Twitter Inc”
“The shift in bitcoin’s valuation is only part of the story. Trading volume has also increased dramatically in 2016, peaking at more than $330 million a day over the summer. Finally, the bitcoin market is liquid enough to allow professional traders to enter and exit positions without losing their shirt, as Hayter put it”
“None of these people, the bitcoin forkers or R3CEV, understand what they are dealing with both in terms of what bitcoin is and what it is for; why regulation can’t be built in to any software project whose aim is to replace bitcoin; or software development in general and how that process works. They have all been “Trumped”
“R3CEV demonstrates again, that the people at the banks have zero understanding of the economics of software and bitcoin, or of the human factor of how code is developed”
“The risk of bitcoin is spread evenly to the people who voluntarily choose to work with it. Trying to control bitcoin pushes a far greater risk of a generational national loss on all citizens, that can never be recovered from once the centre of bitcoin is captured and rooted in another place”
Since 2008 the world has been flooded with $60 Trillion in additional debt to prevent all major financial assets from returning to fair market value.
In the process central banks and their endless monetary stimulus have created an alternate reality, the ultimate imaginary setting.
From Wikipedia – “Virtual reality (VR) typically refers to computer technologies that use software to generate realistic images, sounds and other sensations that replicate a real environment (or create an imaginary setting)”
Nothing in this reality is real and the central banks can pull down this illusion at will (as they have repeatedly down throughout history) leading to epic wealth transfers too the financial elite.
If you want to know how far from reality we are and how fundamentals area long lost relic of the investment world , replaced by endless currency destroying stimulus and Zero interest rate policy; Look no further than this headline.
Hopes of Bailing out failing banks is Bullish in Central bank driven virtual reality.
The worse thing about the open air prison & financial repression dolled out in central Bank virtual reality world used to be that we could not escape it.
But thanks to Bitcoin we can now take off the central bank virtual reality headset and get back to fundamentals and reality; and as more people make the same choice, reality will start to become much more attractive.
[Editors note: Excellent talk that focuses on the escalating financial war being raged against citizens of this world through Debasement, NIRP, Capital Controls, Bailins & the escalating war on cash.
Bitcoin offers a way out of this mess; to turn you back on a evil symbiotic relationship between the financial elite and government that threw the monetary system and humanity under the bus 45 years ago]
“During two plus years of blockchain hype, all efforts to harness the magical power of the blockchain have failed. Many people have been scammed out of money, time and reputation. So how do you know if a claim is legit or not?”
“A lot of people try to disparage bitcoin’s blockchain, but let’s not forget bitcoin’s blockchain is the oldest, the most secure, the most stable, and it holds the most value. It’s only rational to use bitcoin’s blockchain as the standard by which to judge others”
As a reminder Metcalfe’s Law states the value of a network is proportional to the number of members squared.
In my opinion the reason for this divergence and disconnect was the due to the cataclysmic Mt.Gox Bitcoin exchange collapse in Mid 2014, which the price has still yet to recover from.
Based on this, it could be argued that now may be a good time to invest in Bitcoin as it appears to still be trading at a discount to its underlying net asset value or Metcalfe value.
In addition, shown on the chart above, the ratio of Metcalfe value compared to the recent price was recently sitting at 10-1. Based on this we can predict that for the current price of Bitcoin begin to come back into line with the Metcalfe value of the Network ,we could see prices move up to and around the $2500 – $5000 mark or around $40bn-$80bn.
Below is Willy Woo’s analysis on Bitcoin Metcalfe value…