Crazy to say this, but I think bitcoin replaces gold, and it replaces savings accounts. And if you told me that 2 years ago I would have said you were crazy.
I think the only thing that really hurts bitcoin will be a hack or evidence of fake/ ghost bitcoins. If someone figures out a way to sell fake bitcoins, thats gonna hurt.
Originally Posted by boneil
I think if we go back a few years you did call my crazy lol.
I said many people were crazy. I'm not to proud to admit that I was wrong. I was dead wrong and regret not buying or holding every time I heard someone talk about it. I remember telling my wife how stupid bitcoin was years ago when it was in the hundreds. I would never call anyone stupid on the board, but I sure thought it about many of the bitcoin posters.
That said, I am really happy that so many of you guys, the bitcoin hodlers made bank.
I don't know if it was you, but I remember a guy posting about mining bitcoin years ago when bitcoin made it's first run to 20K. I wondered what he did when it went back down to 4K. Did he keep mining or did he fold up. I can only imagine what it's like now if he kept mining.
I was that miner. At least one of them that was on here talking about the benefits of mining and crypto. I held, kept mining, when BTC dipped in to the 3000's and 4000's I bought more. I still mine. My two mining rigs bring in roughly 1.4 ETH a month.
Here's my theory. We'll see more consolidations over the next 5-7 years. But the trend line will continue up. As more financial institutions buy in to crypto for portfolio diversification it's only going to go higher. In 6-10 years I can see BTC well in to 6 figures, and ETH well in to 5 figures. LTC, or some other form of in-house coin, will be used for a transaction network due to the lower costs.
Of course, that's my theory. But, it has merit.
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