Bitcoin: bitcoin price in March is not God forecast $2000, there would be no foam said

Bitcoin: bitcoin price in March is not God forecast $2000, there would be no foam said

On Wednesday, the famous bitcoin prediction God co-founder and CEO – Vinny Lingham soliar (VinnyLingham) published an article “skyrocketing from bitcoin currency how far? “He will, bitcoin is divided into three stages of development.

The encryption of entrepreneurs and experts believe that success will promote the outbreak of the first two stages of the third stages. He also believes that not very soon what kind of encryption can exceed the bitcoin currency.

When asked why he thinks that when he will be attributed to Metcalf’s Law (Metcalfe sLaw [1]), that the law the importance of the network is equal to the number of users in a network connection. Lingham wrote, “bitcoin has a huge network effect, similar to Facebook.”

Nakamoto So’s idea of being misunderstood

Lingham believes that many people misunderstand the Nakamoto bitcoin “white paper is a point of the definition of” electronic cash system. But he acknowledged that bitcoin is a long-term vision of development, must follow the prescribed order.

From 2008 to 2016, bitcoin believers have experienced many bitcoin experimental stage, has experienced fluctuations, and questioned the authority from the crackdown, then almost accepted by authorities. In the past 8 years, Lingham has always insisted that bitcoin as a currency is not mature:

“I think bitcoin is a commodity that can be used to exchange goods and services. Maybe it will sooner or later become a kind of currency, but it is not. It is a kind of digital goods scarce and exchange transactions is the reflection of market sentiment around the digital currency value.”

Vinny in the blog said, “commodity is one of the basic items in the economic society, can be divided into different levels, such as class A, B level and C level, is essentially homogeneous and can easily be used for trading, such as gold, silver and other precious metals, as well as wheat, corn, pork bellies and so on.”

Let bitcoin again “boring”

There is no doubt that stability is an important part of the bitcoin ecosystem, but also become the first key value storage of digital assets. Lingham acknowledged that bitcoin volatility is not conducive to the current stage of bitcoin as a store of value:

Vinny said:

“Yes, I focus on an article is to cut bitcoin’s enthusiasm. Bitcoin need to consolidate the current price level stable for a period of time, we should expect bitcoin slow and steady development. If the pace is too large, then the volatility will also change.”

Bitcoin bubble

Although we have been encouraged to adopt bitcoin, but the current bitcoin progress in developing countries is still very slow, bitcoin is likely to bring economic freedom for these countries. Lingham said more people love storage bitcoin, then accept bitcoin for payment for goods and services businesses more. It is reported that Nigeria has 100 thousand merchants to accept bitcoins as payment.

Bitcoin recent bull market situation also caused people to talk about bitcoin bubble. When asked if continue to develop in accordance with the current situation, whether bitcoin is entering the bubble era, Lingham said:

“I think, if bitcoin soared to $4000 in 2017, so we may face a bitcoin bubble. Bitcoin should slow and steady growth to $3000. Our best hope is that bitcoin can at least in the next three months remain below $2000.

Vs gold coins

In a few days before, bitcoin prices once more than the price of an ounce of gold, becoming the first to do this a little money. Lingham deliberately said, this is not what the big deal is that gold is overvalued:

“When the collapse of the euro, such as Italy and France countries will sell a lot of gold to make up deficits. The price of gold will fall, then the dollar rose, while the euro fell.”

If you want to know more bitcoin related, with “money said” WeChat (micro signal: bishishuo), note: BtcTrade. Before entering the official exchange group.

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