Willy Woo has a useful breakdown of how to value bitcoin using the quantity theory of money. This process has separately been used to make enormous valuations by people with early vision in bitcoin. So lets have a look at four of the most prominent outlier bullish predictors.
1. Rick Falkvinge - Founder of the Pirate Party announced that he was puttin all his savings into bitcoin in May 2011. At $10 a coin this was prescient. He also claims that Bitcon will be worth $2-5m. His thinking is that the banking industry is heavily regulated. A deregulated version of it has the potential to replace the total value of it. "I'm counting backwards. It is a transactional system and a store of value. What is the size of that market? How much can bitcoin take? It is going to replace international trade."
2. Tuur Demeester - Early Bitcoin investor and in 2012, predictor of central bank crackdowns on digital currencies. - In the above chart he shows off some of the markets that bitcoin could disrupt. If bitcoin can replace offshore deposits it could be worth $800k
3. Wences Cesaraes - Sold his compny Patagon for $750m in 1997. "There is a 20 percent chance it goes to Zero.....I think that there is a higher than 50% chance that bitcoin is goes to more than $1m."
4 Chandler Guo - Earlly angel investor in bitcoin. One of the biggest miners in China. In a few years when bitcoin becomes the basis of the world GDP like Guo envisions, bitcoin will most likely reach a market cap of trillions of dollars. This is not far off Rick Falkvinge's prediciton if you consider the total money in circulation is estimated to be $60 trillion. GWP as estimated by CIA is approximately $78 trillion as of 2014.
Who am I missing? The requirement for this list is some early contribution or track record in bitcoin or elsewhere.
1. Rick Falkvinge - Founder of the Pirate Party announced that he was puttin all his savings into bitcoin in May 2011. At $10 a coin this was prescient. He also claims that Bitcon will be worth $2-5m. His thinking is that the banking industry is heavily regulated. A deregulated version of it has the potential to replace the total value of it. "I'm counting backwards. It is a transactional system and a store of value. What is the size of that market? How much can bitcoin take? It is going to replace international trade."
2. Tuur Demeester - Early Bitcoin investor and in 2012, predictor of central bank crackdowns on digital currencies. - In the above chart he shows off some of the markets that bitcoin could disrupt. If bitcoin can replace offshore deposits it could be worth $800k
3. Wences Cesaraes - Sold his compny Patagon for $750m in 1997. "There is a 20 percent chance it goes to Zero.....I think that there is a higher than 50% chance that bitcoin is goes to more than $1m."
4 Chandler Guo - Earlly angel investor in bitcoin. One of the biggest miners in China. In a few years when bitcoin becomes the basis of the world GDP like Guo envisions, bitcoin will most likely reach a market cap of trillions of dollars. This is not far off Rick Falkvinge's prediciton if you consider the total money in circulation is estimated to be $60 trillion. GWP as estimated by CIA is approximately $78 trillion as of 2014.
Who am I missing? The requirement for this list is some early contribution or track record in bitcoin or elsewhere.
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