At least according to James Altucher.
Check out his interview on CNBC yesterday:
If are not familiar with James, a brief bio can be seen here:
"James Altucher is the Formula Capital and Stockpicker.com managing director.James Altucher is an American hedge fund manager, entrepreneur, best-selling author, venture capitalist, and podcaster. He has founded or co-founded more than 20 different companies, including Reset Inc. and StockPickr. He has published eleven books, and he is a frequent contributor to publications, including The Financial Times, TheStreet.com and TechCrunch."
(Source: https://en.wikipedia.org/wiki/James_Altucher)
Besides all of that he has become somewhat of a bitcoin aficionado over the past few years as many of his predictions and expectations have turned out to be true.
According to James, why is regulation good?
James says regulations will prove to ultimately be good for the market for several reasons.
The first being that regulations will help people feel much more safe entering the cryptocurrency space.
Just about every week we hear about someone who was hacked or an exchange that was hacked and funds were lost.
Right now there is not much recourse for something like that.
As regulations come out and reserve requirements are instituted for exchanges and they are properly insured, many of those types of risks will go away.
Increased regulations will also allow institutional money to enter the space.
Some people may think that institutions are not involved in the cryptocurrency space because of the volatility.
While that may be part of the truth, it's not the whole truth.
Many of the institutions sitting on the sidelines are simply prohibited from entered unregulated markets and participating on unregulated exchanges.
Simply too much risk.
Once things get properly regulated, not only will mom and pop feel safer dipping their toes in, but big institutions will be able to enter in a meaningful way as well.
What inning are we currently in of the bitcoin game?
According to James, we are currently in inning zero, or possibly even before inning zero. The rules and regulations of the game haven't even been written yet.
Which means the game hasn't really even started yet.
Bitcoin's not going to be made illegal (according to James), it's going to be regulated and when it finally does and all the rules are written, adoption of bitcoin as an asset class is going to explode.
People out there are going to say they need some exposure to this uncorrelated asset class and the value of it is going to absolutely explode.
For that reason James says that $1,000,000 per bitcoin is possible by the end of 2020, even after this rather large correction.
No that was not a typo, $1 million dollars two years from now is possible according to James.
I am not sure I am that optimistic but a lot of what he is saying makes sense.
Give the video a watch if you haven't yet. It offers an interesting perspective from a smart guy.
Stay informed my friends.
Follow me: @jrcornel
Regulations - a good thing... Hmm I was always thinking that bitcoin "main goal" was to not have regulations... Life always surprises me... :D
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Na, I mean they regulate some really crazy things; you just don't think about it. Of course they will try to regulate BTC. That was never the main goal from Satoshi's work to avoid regulation. It was to avoid rampant money printing and inflation. It was not to avoid fees or taxes. You may note Satoshi knew how to mask the blockchain and never implemented it. He knew that would cause governments to destroy BTC - monero will suffer for that. So there was never a "main goal" to act like criminals outside of the law. It was about a paradigm shift in storage, supply and transfer away from the elites to all. You don't need a bank account with BTC. Regulation also has benefits such as by paying taxes we legistmise the crypto space and encourage governments to protect it (it is not about two fingers up to government do that and we are done).
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The banks, and thus the government, want the most used currency to be the USD because banks receive free USD. Banks cannot receive free Bitcoin by design, so they will fight it.
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I think that's what we need though to stabilize crypto and make it more inviting for new potential investors.
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The government has their hands out getting their piece for doing absolutely nothing.
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Regulation is just another word for control. Allowing government regulation gives government control. I would not be surprised if eventually its revealed that this "bubble" is actually being caused by the powers that be wanting the masses to go clamoring to them for regulation/control.
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I can't in good conscience listen to that guy. He hops from trend to trend trying to make money off of newsletters and has currently been blanketing the internet with his "Crypto Genius" ads. Total cash grabber on the crypto trend.
~ Kevin
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Altucher is a total assclown shill. He is jumping on the bandwagon to make as much money as he can from crypto. He tries to sell himself as a crypto expert now. Regulation is the slippery slope that will eventually get us to a one world digital currency with no privacy and no decentralization like the planned Fedcoin. They use all the typical excuses of "protecting the consumer" as the BS for allowing the government and banking mafia into the henhouse. I'm tired of listening to Altucher's BS and looking at his ridiculous hair.
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Yeah he will let you in on his picks for a price lol I'd rather invest in what I've researched as hand it to him to buy him a new Rolse Royce
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100% agree my friend
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I agree too
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My impression as well.
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I read James book "Choose Yourself" a while back. He said he only put 1% into crypto back in 2014 because he thought it had a 1% chance for success. I wonder what changed his mind?
He apparently didn't read the Satoshi Nakamoto white paper or read the text in the Genesis block. He's missing the entire "raison d'etre" for why this code was written.
Andreas Antonopoulos has a very different message; bitcoin is going to create encrypted anonymous P2P. Regulators will regulate around the edges, but so long as the scared "mom and pop's" out there only trust "regulated", they will end up with a bank. And what banks do is goxx you (sooner or later).
There's no replacement for taking responsibility over your money and resources. When you hand over this responsibility, you're also handing over the resources.
So it's clear that there's going to be a war...
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Andreas Antonopoulos knows what he's talking about.
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I think he has a voice coach.
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ummm interesting that.
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Have to say I like your use og Gox as a verb:)
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The biggest benefits of crypto and "digital gold" are that they are decentralized and unregulated. So its a bit of a paradox to say that regulating will make it more successful because they can't do it without changing it. Also, if governments cannot easily track transactions then regulations will be created to hinder growth. Its a real threat to national currencies. Just like Gaddafi was when he tried to create a gold backed currency in Africa and they regulated him!
US Secretary of State gloating over the murder of Libya's Head of State.
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Shhhh no one's supposed to know why we killed Momar and Saddam and replaced afganistans government just after the Taliban had outlawed growing popi
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I think regulations are unfortunately a necessary evil.
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I have been involved in crypto since 2011 but see regulation as the only way to achieve mass adoption. At present prices are subject to massive manipulation and everywhere you look there are scams, ponzi’s and the like. Regulation will help clean this up and allow no techical people to invest with more confidence. It’s only a matter of time.
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I just hope this guy is right - but from what we see he has been wrong so many times
anyways bitcoin he better be right about that one
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Everyone thinks they are right. im just eating some popcorn here on my couch watching it all go down
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I disagree.
Regulations do not save people from their own stupidity. It matters not though, the DEX will operate outside of authoritarian wishes.
"Freedom is the answer. What's the question?"
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Would be nice to see more institutional money into the crypto space.. but bitcoin? 1 million? noooo. it's not going to be able to compete with other coins anymore.
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That is kind of my thought as well. Unless there are some serious tech upgrades...
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Bitcoin will always have the most marketable name, and for that reason alone, I think it has a good chance to be the "king" crypto or, at the very least, remain in the top 3 to 5 cryptos, for as long as you and I remain above ground.
Second best name for a spendable digital cash is a split for me between SmartCash and Dash. But other than those three, I don't see a name out there that's catchy or self-explanatory (does the name alone tell you what the currency is/ does?) enough to gain mass adoption -- it certainly ain't NEM, hahaha, what the hell is that? No one is going to say at a cash register, "can I pay in new economy movement tokens?"
I think people tend to underestimate the importance of a good brand name/ image in order to gain mass appeal.
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I feel goooooooooooooooooood!!!!!!!!!!!!!!!!!!! Cryptos cant be fully regulated especially the completely decentralized ones like monero, zcoin, zcash, zero etc... Pandora's box has been opened and it wont be closed.
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I agree. Bitcoin needs LN, Schnorr sigs, etc to come online or other tech is going to come forward and surpass it. Steem, Bitshares and EOS have all solved the scaling issues so we may see those go up later on this year.
I read James Altucher's book Choose Yourself about a year ago and it's clear to me that he's no expert in cryptocurrencies. He did however manage some very large hedge funds around the time of the dot.com boom/bust.
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I agree 1 million sounds a little far fetched but it is not stagnant there is a lot of active development going on with bitcoin and they haven't even implemented any layer 2 solutions yet. Also I think it will be hard for a complete noob coming into the crypto market to buy an altcoin as there first investment. Bitcoin will be king for a while if not forever.
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This is some really fantastic information. Thank You for sharing 👍 I have resteemed and upvoted this post to help share with others.. Thank you for taking time to post this awesome information👍 Have a great weekend!
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´´For that reason James says that $1,000,000 per bitcoin is possible by the end of 2020, even after this rather large correction.
No that was not a typo, $1 million dollars two years from now is possible according to James.´´
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Hodl
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"Just about every week we hear about someone who was hacked or an exchange that was hacked and funds were lost.
Right now there is not much recourse for something like that.
As regulations comes out and reserve requirements are instituted for exchanges and they are properly insured, many of those types of risks will go away."
That is it in a nutshell.
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Just buy a ledger wallet, store the crypto = safe, people just want the quickest way to get rich without taking the precautions needed to not lose the money, they buy coins that they dont know anything about just because McAffee or some other important dude said so, or go to a bitconnect exchange and leave their coins there, or give money to a cloud mining website thinking they are going to get their money back... i prefer to have less returns and keep my money safe in coins and wallets that i trust then put it in a quick get rich scheme.
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recently a popular wallet was hacked
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Ledger nano s and trezor are the only true wallet gods, calling other stuff wallet is a blasphemy
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Pretty much
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I agree with you 100%
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NO IT FUCKING ISNT.
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Agreed! Regulation is essential for crypto to explode!
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Regulations only make governments feel safe.
Regulations didn't stop the banksters in the 2008 world financial crash did it?
Anybody promoting regulations for the crypto space is a shill for governments and banks.
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no...regulations are not a good thing.
in my experience and observation any and every time the government get's involved it's a bad thing.
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I wonder how much research he did, considering all the factual errors.
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The rise of cryptocurrecy is making waves and the best is yet to come. I think more structural frame work should come in so coins of fraud dont jump into the market everyday
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All he is saying is, if people see that a business has an A+ rating with BBB they feel better about them. If people see FDIC on the door of a bank, they feel better. So if people see that Exchanges are accountable to someone, more people will trust them and that would be good.
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For as long as I remember there is has been a battle for a cashless society that would give total control of all commerce to whoever controls the computer infrastructure. That's why there are no bills larger than 100's and all cash transactions over $10,000 must be reported by banks or any other business's like auto dealers to the IRS.
Along comes Crypto and all you people can't wait to turn your whole life over to whoever controls the computers. Whilst thinking you are some kind of Anarchist.
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If you don't know what thx1138 is, you should look it up because that is where we are headed with a cashless society that you so called anarchist in the crypto movement want to take us to.
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I was always thinking that bitcoin main goal was to not have regulations... wow Life always surprises me in all ramifications
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its an informative blog.thanks for sharing.
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guarentee whatever the regulations be, a rap will happen a day from me, keeping up with the crypto beat =] check out my page for the daily rap craze
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How about steem
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I've given 2 votes
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thanks for useful and informative post look forward your next job
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Be very careful "regulation" is 99% bullsheet. Nothing money "palm greasing"generally cant fix. And don't forget Blockchain is the new "regulator" so regulation should be completely unnecessary. Checkmate
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Well if Bitcoin goes up to 1 million USD each I am going to have to be a whole lot nicer to my brother. Glad I sent him those lobsters for Christmas.
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My brother talked with me about btc when it was 20 $ ea... neither i nor him invested in btc, now 4 years later im investing in bitcoins and so is him... Mistakes...
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If it does? is it to late now to get 4?
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not if you have like $50k
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Let the market do its thing within "reasonable parameters". That's all regulation is. That and the status quo looking to maintain position.
Do some research on Rockefeller and you'll see its just history repeating itself, similar to the dismantling of Standard Oil. Now we have Exxon, Chevron etc...funny how certain political families shuffled that one. Rockefeller wasn't part of that circle, and they just shifted the goal posts around him.
Something becomes powerful beyond its original measure, and the powers that be will always seek to maintain the money elite.
Though I'd like to see them try with crypto.
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I like James, and he gives good information. But I just started in the crypto world, and I ordered his years subscription of emails for 49.99.
I wish I hadn't. He mostly talks about himself and his success.
I later found out that most of the info is free with a little research.
NO REFUND!
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It's guys like him that make me think crypto is a bubble that is going to pop if it hasn't popped already. 1 million dollars per bitcoin in just 2 years? Come on guys temper your expectations. I believe this is the same guy from 20 years ago pumping internet stocks at their all time highs. When more people start making unrealistic predictions like this it brings in all the people who think they're going to get rich quick by buying a couple hundred dollars worth of crypto and it's pro like Altucher who are selling to the dumb money. If you haven't taken profits already now might be the time.
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Maybe u are the one trying to make ppl sell so the price lowers and u can buy the dip... or maybe u are right and the bubble is popping, i think u are wrong, we still have 2 more good years in front of us until the bubble pops, i hope i cashed out by then, not everyone has invested in cryptos, only a small percentage of the world
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It’s sucks that everything needs to be taxed, even when the people wanting to tax crypto say that it is a bubble and not something worth investing in. Like if you dont accept it as an investment, why are you taxing the gains on it. If you aren’t accepting that is is a currency, why would it factor into our net income and tax bracket?
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Invest in cryptos, wait a couple years, change to a country that doesn´t tax crypto investments ( u will need to live there for 1 year) = profit
Ps - i dont know if this is legal xD but hey, if it is, fu## the system
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Moving countries is hard, but not impossible. Also, i dont want to move somewhere that the currency is inflated and all that. Hopefully countries stop trying to regulate something that works best when left alone
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" Hopefully countries stop trying to regulate something that works best when left alone" That's everything they do man
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Your post is really great. I found it awesome. I like it. Thanks for sharing with us.
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$1,000,000 each for bitcoin if everyone in the world buys into it.
$1,000 each if they do not and if falls in favor.
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It truly is amazing how dramatic Bitcon and other cryptocurrencies move in both directions. I entered just recently in the crypto space and have seen Bitcoin triple in less than 90 days. 1M a coin -wow that would be incredible to say the least. Glad I will have a small piece of that action.
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Ha!...a literal lol! ...aka...'We will take care of your wallet...i mean...you.'
Smh...Clearly, not a shock; and, taxation wouldn't be either if people had more say into which causes they wanted to support.
For one, I'd say dry up the student loan 'project'. Notice no one's giving 'free loans' to buy a house, or car without collateral.
Regulations will only encourage those in crypto to HODL!
Peace.
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I have read a lot of articles written by James and I would say that he is a very smart guy overall.
I completely agree that regulation (especially ICO regulation) is a good thing. all of the reasons that you listed above are valid for sure, but as well as that, regulations signal the potential for mass adoption. Regulations mean that cryptos are here to stay and that governments are really starting to see this.
Our future hopes are slowly becoming a reality, and I can't think of anything more exciting than that.
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I hope not, I wish they would leave it alone forever.
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I believe that regulations would be bad short-term, because the price drops will follow it.
But, if these regulations happen, like he said, it would make people feel safer.
And looking long-term, it could benefitial.
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Terimakasih sangat membantu
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Taxation without representation started a war war in the past, as far as I know we don’t have people fighting congress for our crypto rights. :/
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If you are talking about the United States, it looks very unlikely that they would ban cryptocurrency at this point. They seem content to just regulate it and let market forces go to work.
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What if they have their inside man helping to run Tether, with the mission to drive up prices and let Tether eventually collapse, turning people away from crypto in droves?
I don't doubt that many will be willing to attempt to convert their wealth to crypto en masse as fiat in some of the economically stronger nations starts to falter, but it will be a rough transition period and we'll see how hands-off they remain once they start to bring out their own competing blockchain-backed/energy backed currencies.
In what was undoubtedly a little bit of protectionism of their own cash cow certain states in the US disallowed their citizens from buying crypto, NY included. I'm interested to see if there continues to be local differences in how crypto is approached, I mean Utah's already a pm bug state and tends to be kind of adversarial to federal power (Mormonism has always seemed to be at its core) so it wouldn't surprise me to see if they take the lead on state-wide adoption and a few others follow as they try to protect buying power in an era of fiat collapse.
Sorry, you probably already know all this stuff, just getting my thoughts on regulatory differences in the US out there.
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Nah I know they won’t ban it, and I sure as hell don’t want that haha. Just makes me mad how they talk all this shit on crypto then tax the hell out of it.
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Tanx for the info,always keep us posted
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Its like a "grunge band". They build a loyal following through being anti-label. Once the fan base gets big enough, once corporations start throwing the words million's around.....the "grunge band" become the "rock band" the "rock band" becomes the "pop band". Crypto will be the same way except the word millions wont be thrown around, the word "trillions" will be. Of course they will regulate. And I agree, of course its a good thing....at that time.
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Regulation always carry a good sign. Crypto world regulations should make every investor safe and secure.
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Much needed regulations could stabilize the market and bring in millions if not billions of new buyers!
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So what will they call the FDIC for Crypto?
![](https://steemitimages.com/DQmTSsXjBuvsSkchjqp87kjx3eS8jX4JzKirsAT9vAtoRJK/image.png)
The CDIC?
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I have no doubt that bitcoin will be worth $1 million Not so much because of the potential in Bitcoin as a world currency, but due to the growing weakness of the US dollar. Global support and confidence in the dollar weakens, at the same time as they are growing in relation to Bitcoin. And this despite the fact that the "third world" still do not imbued with the value of Bitcoin.
Billion-dollar investments in the infrastructure of Bitcoin will take another 1-2 years to bear fruit and make cryptocurrency usable for easy and convenient use worldwide. Bitcoin has proven its durability, but is still at an early stage of development. His aging might take decades, but the Bitcoin price, it is precisely the subject about which not to worry in the long run.
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Believe in bit-God
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Bitcoin's not going to be made illegal (according to James), it's going to be regulated and when it finally does and all the rules are written, adoption of bitcoin as an asset class is going to explode.
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Great idea. Congratulations @jrcornel
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I keep hearing the big 1 million number being tossed around by important people like this guy and yourself.
Can only hope for the best, but I always fear regulation goes too far with who is currently in running the world... Merh Thanks for the read!
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Follow me~
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cryptocurruncy is a process to transfar money without banking,only hand to hand
thanks for sharing
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I like that interesting perspective offers
thanks btw.
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good
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Good post keep going
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Very complete and informative your publication. Thanks for sharing.
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Congratulations @jrcornel, this post is the second most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 30 and the total pending payments to posts in these categories was $2207.64. To see the full list of highest paid posts across all accounts categories, click here.
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Hey uuu
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Thanks for your post
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regulation or not, we still end up paying taxes and without any regulation, there's no kind of protection or guarantee or anything from the government (except profit grabbing in return for nothing). If regulations come in atleast it removes that ambiguity about whether crypto will become illegal and gives some assurance that we wont be hunted for ownign crypto assets in future.
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Sure its a good thing ... but for who?
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Last statement he made 98% of crypto coins are a fraud, little extreme there, but I get the point he is trying to make
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possibly... John McAfee made the same bet..
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I can't in good conscience listen to that guy. bro vote up and me vote up you
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This is an interesting perspective. I always thought of regulation as a bad thing as the decentralisation in the crypto world leads to freedom and any regulation will challenge that. However what I understand from what you're saying is that some kind of regulation will allow more potential investors to get started and give a confidence boost to those uncomfortable with the idea crypto which is beneficial for everyone. A parallel I draw with this situation is the regulation and the legalisation of drugs. Without regulation, there is no quality control and there are potentially lethal contaminants that dealers have mixed to increase profit margin that are MORE dangerous than the drug itself. By legalising and introducing some legislation, those who choose to take drugs are less susceptible to those dangerous contaminants and can expect to get quality drugs, although dangerous, without the risk of more dangerous contaminants. Thanks for the new perspective. I look forward to your future posts.
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Cnbc? Is it true? I hope it's true...
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Great post!!! I can’t seem to escape this guys face lol his adds are everywhere
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I like your post
Please upvote me
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Www good
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I would be ready to cast a vote in favour of proper regulations of the cryptocurrency world as it is gonna eliminate a reasonable degree of some of the challenges experienced with some upcoming cryptocurrencies. Furthermore, some of the problem being faced in some countries with respect to the acceptance of cypto would be reduced. Very insightful post. Kudos!
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I would love to see this of course. But it is nevertheless a bit overhyped. Sure, institutional money coming in pair with more regulated markets could be beneficiary to cryptos in general. There are still a of people they would like to get in, but can't for the moment.
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How will you regulate a blockchain, thats impossible by design! The only thing they can regulate are the exchanges.
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1,000,000!
I might just hang on to my BTC a little bit longer. :O)
It seems that everytime someone cries it's dead it just marches on stronger!
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Very interesting viewpoint. I a suppose a parallel can be drawn to net neutrality which was also good regulation to protect consumers. Regulation that makes investing safer and exchanges more secure definitely wouldn't be a bad thing.
My main concern would be that the banks would lobby a lot to try to bias regulation in their favor.
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I get what he is saying about bringing the masses to bitcoin, I would love that but in the long run ... we all know how it goes😂 plus he's clearly too invested in it to talk about the negative effects it could have which makes me even more skeptical
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Always the Crypto Currency lovers and optomist getting attacked by the system shills. Lol Get post really enjoyed it.
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Regulations are good because it legitimizes the market and then the real money flows in.
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yes it's not like regulation almost always slows down a industry bitcoin has been without regulations all of its life and because of that its been able to bounce back from crashes extremely quickly unlike The US economy which took years
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I know.
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I was always thinking that bitcoin main goal was to not have regulations... wow Life always surprises me in all ramifications
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Bitcoin is an innovative payment network and a new kind of money as i know.
thanks for sharing dear
carry on
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Unless they somehow upgrade bitcoin I don't see that happening at the current transaction times and transaction fees. Theres so many other coins that have a lot of potential to reach the top, that are yet to bloom. As of now, I'm an ETH fanboy, ETH has been nothing but a convenient coin lol
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Good posting,,
Very helpful..
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Would love to see more from Andreas Antonopoulos getting interviewed by mass media. James is alright too thanks for this jrcornel upvoted!
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You mean like the one where the SEC made it so Americans get to miss out on ICOs? No thanks.
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Note to self: Consider the message; set aside the messenger. James has often been described as both a guru & a charlatan in the same sentence. Some of the content he generates is really good; especially his Choose Yourself, Reinvent Yourself and Idea Machine series. Sometimes, he just jumps onto a trending topic - in this case crypto - and promotes the sh** as best as he can.
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its an informative blog.thanks for sharing.
please keep on your activity....
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Just take a look at the last subprime crisis: A bubble with regulated fiat money and tell us again that regulated is a good thing. No, this is not about regulating bitcoin, this is about control.
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Thank you for posting, Explore also posts I share..
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very amizing post
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Woww hermano estupendo vídeo, mucho éxito y saludos desde Venezuela:)
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sizin bota 0.01 gönderdim geri dönüş olmadı neden ?
I sent your bota 0.01 Why was not there a return?
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las regulaciones traen consigo muchos tropiezos ya que nosotros los usuarios no nos acostumbramos a las reglas pero me parece interesante tu post ya que es bueno conocer el porque y cuales son las regulaciones de esta moneda .y son siempre creadas por entes del gobierno ya que miran su conveniencia .
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Wow interesting and encouraging news...... Please go through my posts and like. Thanks
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Breaking and entering is also regulated and everyday it happens. Speed is also regulated on the highways and yet they have entire budgets to traffic enforcement. Drugs are extremely regulated yet opiate deaths remain at an all time high. I could keep going but I am sure you get the point.
Regulations only create quagmires and hurdles that do not stop the risks from existing and swells government. Swelling government gives them more control. The cycle begins of proving a need, expanding that need, then ultimately corruption in order to maintain the status quo.
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Nice one
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This is a great information. I also believe regulations will be beneficial,especially because more people will believe in it and it will give a sense of security.
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If you want the big players, the market needs to be recognized by institutions...on the other side though, it could lead to even more manipulation...we’ll see what happens.
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