Bitcoin Price Speculation and The Reason Behind Crypto Currency
What price do you think bitcoin be at on 8/1/2016, 11/1/2016, and 12/15/2016 ?
I'm quite bullish about it, my prediction is $827, $886, and $905 for those dates. I believe Steemit is the catalyst which will drive up the price of Bitcoin + solid altcoins along with it like steem and ethereum.
Even if most people joining this site don't want to buy anything and they just want to earn all their money, that doesn't mean they aren't going to scroll past a few crypto currency blogs, not to mention they may need to use bitcoin to cash out into fiat. We need eyeballs. We need more advertisements and I think a crowdfund started by Ned or Dan to pay for that would be really cool.
Anyone who has a decent amount of money invested is now part of the crypto currency PR team whether they want to be or not. If you don't defend your coins legitimacy, it could hurt there value and public perception. We don't want crypto currency to be labeled as money only used for drug laundering and terrorists, because most involved with it are not those things.
The real reason behind crypto currency isn't to make money or buy silk road drugs, let's remember that. It's so we are able to have control of our own money in a decentralized network of low fee's, privacy, and financial stability, completely disconnected from the control of corrupt banks.
This is going to be a very interesting next few months to see how large the crypto community will get (thanks to Steemit).
I tell every person I know to learn about steem
Same. I tell them about bitcoin first and then steem. Everyone, my friends, family, new people i meet, co-workers, etc.
I invest in crypto because I believe in the concept. I believe there is a market of people who want to control their money and when it becomes easily accessible and commonly known it will grow and keep people buying. I don't care what the price will be in 2-3 months. I want to know what it will be in 5-10 years.
5-10 years is a lot harder to predict. But you are right, the concept does keep people buying. I consistently buy it to hoard.
5-10 years is harder to predict. But if you believe the idea is where things are moving, you don't need to worry about the next couple of months. You don't need to worry about how much time it takes if you believe steemit will be the social media center for the world or that bitcoin will be the next huge banking system.