ETH Price to $200,000 in 3 Years? BTC to $500,000? Really?

full-measure (64) · 7 years ago (edited)

Ya, it's funny how they worry about the idea of holding cryptocurrency, but then they hold cash. It's basically a projection for their own fears about what they're doing.

Except theirs is like the ass-end of the equation. With crypto, maybe there's risk but there's also huge upside. With fiat there's no upside and a way more likely downside.

Ya, predicting prices in terms of fiat is always murky.. it could be worth trillions if the fiat is worthless enough

I don't think it's impossible that governments will start backing their currencies by crypto. They could strategically own some or be in the process of getting it.

People talk about the possibility of a "FEDcoin", like governments coming out with their own blockchains. They could, but if it's centralized it won't be as secure and imo won't stick longterm. It seems smarter to get Bitcoin ahead of time and just guarantee that a dollar can be redeemed for X amount of btc, and then they avoid the chaos and have a softer landing away from the fiat system. And they still hang on to some aspect of control that way and don't have to admit that the currency failed.

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techwizardry (65) · 7 years ago

It's possible, but I just don't think it's very likely. Why? Because the higher the crypto markets go, the more liquidity leaves the legacy financial system. You see where I'm going with this?

There will be massive push back against cryptos from governments at that point. That is when the real war begins!

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neilperry (55) · 7 years ago

Yeah whatever way I look at it I do grow more and more concerned about this, sure there are governments supposedly looking to port over onto Blockchains but whichever way we look at it, Blockchains will transform governance and potentially reshape the willing ones irreparably, a factor that really could lead to hostility.

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benkalashnikov (60) · 7 years ago

It's possible but maybe not that probable. I have the same thoughts about the macro economics in the world. How do you think cryptos will be affected if we go in to a major ecomonic crash? I'm sceptic about people investing in digital currencies which is still something new and uncertain to most people.

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akamtn (56) · 7 years ago

I think that people is skeptical because money is one of the only things that you can use to buy everything. Yes, gold can be used as a way to keep your money secured, but you can trade gold, and very rarely buy something with it.
Unfortunately, people believes in what they see, and what they know best, and you can't convince a monkey that honey is sweeter than a banana, or can you?
But you're right, with time results will come. Houses will start dropping, cash will get devaluated year by year, and everyone will be aware of everything but probably way too late, and at a really big loss.

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edwinbeutti (64) · 7 years ago

Louis I LOVE your channel, you are one of the YouTubers who I am glad to follow on this amazing amazing site, I am also YouTube content creator who translated to steemit and DTube, content creator like you inspire me to post videos over here :)

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neilperry (55) · 7 years ago

I've got to say that in all likelihood people are just mad... I don't see how Ethereum could hit 200,000 there isn't enough money in the world to put into Ethereum for it too hit that much. The various currencies wont devalue to an extreme amount enough to hit that level and Ethereum's velocity will ensure that at its worst it would at peak be a 10,000 dollar coin. AT WORST!

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henrysblog (47) · 7 years ago

wow that would be awesome

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radkraut (25) · 7 years ago

only for some lol

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heroback (38) · 7 years ago

All I van say is wow...maybe I better hang on to that .01 of Bitcoin I have...lol

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creativista (54) · 7 years ago

This is an extremely long comment on the Venezuelan situation, be warned.

As a Venezuelan, living in a small city I can confirm that value will shift when you experience a collapsed economy. You will start to value essential things like that will start to become luxuries: water supply, stable power supply, hot water to shower, food and a varied diet, communications systems from landlines to internet service. The devaluation of your fiat combine with hyperinflation will make you a convert on any kind of decentralized system of money that gives you a sense of purchasing power and hope for the future.

Let me expand on each topic a bit, talking by my own experience.

Water supply has collapsed in residential areas consistent of buildings. I know first hand of people who live with 2-4 hours of running water supply a day, and some who live with 1-3 days of running water a week. You might think it's not that bad, but that means, a lot of hassle to cook, avoiding going to the bathroom for hours (drinking less water), not being able to shower daily, or wash dishes, and so on.

Unstable power supply and constant power outages these will affect all you electronics, my light bulbs last less than a couple of months because of this and some people have lost the their fridges, computers and others to these outages. Everytime the power goes down in one part of the city, access to internet goes down as well and for a freelance designer like myself, this is a bit of a nightmare to reach deadlines. If you go outside during a power outage, some traffic lights won't work, traffic jams will increase and the risk of getting into a car accident becomes significant.

Hot water and food If you take for granted your hot shower and coffee, these will also become somewhat luxuries. One reason is that stove gas service has completely collapsed (lack of supply, corruption inside the companies that should supply, and other factors). This has forced us to switch from stove gas to electrically powered water heaters and cooking gear. The switch combined with the power outages are a recipe for disaster, preventing you from cooking or having a warm shower when you most need it.

Lack of food Packaged foods and non perishables, that should be available in times of struggle have become increasingly scarce. Tuna, sardines, toothpaste, and other essentials are pretty difficult to find and extremely expensive. When you are lucky enough to find and afford these, it's of utmost importance to store them. I've stored many grains such as rice, lentils, beans of many kinds, oats, sugar and salt in my fridge enough for sustaining months of a possible famine. People with low incomes and no access to these high prices are in a critical situation.

Failed communications Text messages won't go out at times, cell phone service will become unavailable as well. Some people started robbing the copper wiring that gives access to landlines to sell the copper inside them, leaving many of my friends without landlines. So, it is true that precious metals will become increasingly valuable. Even manholes were being stolen to sell for their iron component. I'm not kidding. Some of these have been replaced, but many landline wiring remains unreplaced and communications companies don't have enough resources to fix this.

Hyperinflation, local currency devaluation and lack of cash The lack of printed money encouraged many illegal business models i.e. because banks will only give away 10 thousand Bs. to each person cash daily (equivalent to $0,004) people with available cash started reselling it for a 50%-100% commision. That's right, if you need $10 bucks in cash, you will have to pay up to $20 in a bank transfer for this cash. Cash is really hard to get, but many services still work on a cash-based system only: transportation especially. So, no cash means no transportation for you, unless you bike or walk. With hyperinflation, food prices go up 30-200% from one week to another, and sometimes from one day to another. Once I had to pay for a car part and they increased the price from the morning to the afternoon. true story. A university teacher of the highest rank is earning the equivalent to $6 a month and basic food essentials are up to around $0.5 per item. This makes cryptocurrencies a no-brainer alternative. Although people with no access to internet and technologically savvy enough will still struggle to join the crypto market.

Being with family and friends will become extremely valuable, the sense of connection will prevail over anything else to remain hopeful in a country with a bleak future.

Thank you for mentioning our situation Louis

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copythesewords (25) · 7 years ago

Independence versus dependency could be the theme of your post. Preparedness I think is key to maintaining a stable environment for yourself and family.

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creativista (54) · 7 years ago

That's a good title suggestion. And yes, that's true, my fridge has more food in storage than I actually use, but some things you can't really prepare for. Thanks for reading and commenting @copythesewords.

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chrisdale (25) · 7 years ago

I think that it would be a stretch for BTC and ETH to reach those sort of levels but crypto currencies have always done the impossible

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narferpac (34) · 7 years ago

excelente trabajo muy buen video

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daddygarsha (36) · 7 years ago

People think I'm crazy for buying crypto, and even for buying traditional stocks! I feel your pain! 🤣 I think it's because we all witnessed the big crash about 10 years ago, so everyone is scared.

SIDENOTE 🚨: Can we start a petition to get McAfee to change his name? Just add an A! That's all I'm asking!

Thank you🙏

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sirbutterbean (26) · 7 years ago

I can see this happening for sure. With the limitations on supply of #Bitcoin and #Ethereum, the market will undoubtedly move upward for the 'best in class' protocols. And with the network effects of digital gold (Bitcoin) and Distributed Smart Contract Protocols (Ethereum), they are both positioned to follow the exact trajectory of Metcalfe's law. This would lend them to becoming the dominant players going forward - even if something else new and shiny comes along.

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unselfishmouse (25) · 7 years ago

I don't think that Bitcoin would reach $500,000 dollar per Bitcoin since the amount of coins is too great and the amount is increasing everyday.

But that is only my theory, maybe another crypto currency could reach that value but not Bitcoin.

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reviewsuk (29) · 7 years ago

Hi Louis,

Anything is possible with crypto. The fact that it will reach half million $ within 3 years is a bit optimistic, I must say. I won't say it will not reach as much as that but only when mining will become a pain in a butt to do so and the coins somehow are in control of worthy people. If a bitcoin will be worth 500k then it might become impossible to exchange with fiat currency.

At the moment bitcoin or any other crypto are still very far from completely replacing fiat currency. In London I have looked to see if any retailer does accepts cryptocurrency and I couldn't find one.

Unless big name start getting more interest in those cryptos there will be no significant rise in their value. If google would have started using bitcoin overnight the price would have risen to 50k at least. At the same time if the government would have been involved with crypto the price would have gone the other direction as we are back to were Satoshi started.

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some-dude (49) · 7 years ago

Nothing is "too much" in crypto...

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vedran.deimos (25) · 7 years ago (edited)

Mcafee is donkey, pumping coins for money.

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crypto4iso (49) · 7 years ago

WAR against cryptos has already started , but banks are coming in , it is all going to depend on international context .... and human behavor , anything can happen ,but we all know that mankind is very good in doing whats worse ....

Wait and see

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atmosblack (63) · 7 years ago

It´s a miracle, that after all these months and all we have learnt in this time, McAfee is still wrong. This guy is a reverse genius!^^

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themobilewriter (48) · 7 years ago

So many things have changed in these 6 months. Bitcoin hit 18000$ and then came back down almost 50% but still higher than what it was in july 2017.

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radkraut (25) · 7 years ago

very true

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faizan-ashraf (64) · 7 years ago

Your saying seems logical but I think it's unlikely to happen. Along with cryptos and blockchain at the back, general economic principle (demand and supply) is also controlling this trend.

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liquidtrader (27) · 7 years ago

200k and 500k with 0.001 and 0.002 miners fee no way

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liquidtrader (27) · 7 years ago

We don’t really know how this coin is created. You can’t have a functional money without a basic transparency. Unless you are addicted to volatile trading for the sake of trading, stay away from the Bitcoin. Thankfully its plunge will be a salutary caution to most folks.” - Steve Forbes

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mastaz (41) · 7 years ago

Everything is possible in crypto, although it definitely looks a little far at how low it has gotten these past few days! :(

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edwinbeutti (64) · 7 years ago

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ellemoz (27) · 7 years ago

And the price of both Bitcoin and Ethereum have just tanked in recent times. As much as I'd love to see them reach this milestone, I'm just finding it hard to believe...

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lovesteem (52) · 7 years ago

Nice work cute boy

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wond2006 (44) · 7 years ago

Anything can happen in crypto.

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spliffstar1904 (37) · 7 years ago

This is some of the realest info ive heard in a while... some people have no idea what the govt is doing with our fiat!!!

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cryptorocko (39) · 7 years ago

I definately see etherium price going up in the long run, however there might be more crashes of the market like the ones we are having now before it reaches those heights. What are people's thoughts on flippining in 2018? Etheriumm is sharply rising while bitcoin is having its scaling issues. Although Eth has its own scaling issues and competition from EOS, NEO and Cardano, it is miles ahead of them and should keep rising. Would love to hear from feedback?

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bitgeek (62) · 7 years ago

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viraldrome (67) · 7 years ago

Personally I think ETH will overtake Bitcoin

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themanwithnoname (64) · 7 years ago

That would be quite a market capitalization for each of them. I doubt it will happen, but at this point, it wouldn't surprise me either.

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https://news.bitcoin.com/cryptocurrency-influencers-accused-aiding-pump-dumps/

jord (25) · 7 years ago

I would caution against his opinion. There is a lot of speculation that he is paid to do coin promotions on his twitter account.

When he promoted Verge, its price doubled overnight. Rumor is that he met with Verge people the night before, and was paid to do this post the next day.

Of course, do you own research to come to your own conclusions, but the heavy amount of speculation begs consideration.

Some articles to read:

https://www.financemagnates.com/cryptocurrency/news/john-mcafee-pumping-cryptocurrencies-cash/

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kawcher (25) · 7 years ago

May be!!!!!!!!!!

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topscorer23 (42) · 7 years ago

Can i earn crypto on utopian?

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