What could a Bitcoin be worth in ten years? This video gives a personal view from someone who is an expert.
However, personally I think Wences Casares, co-founder and CEO of Bitcoin firm Xapo, is greatly underestimating the potential growth of Bitcoin, especially as Bitcoin becomes more difficult to mine and less new coins are on the market. But I thought you should see this video.
Volatility? Wences Casares May Have Miscalculated. He wasn’t exactly able to research his answers on the Interview.
One other thing: As Bitcoin value rises, the market should see less volatility when people realise the value of holding on to an asset that is continually gaining value. So I think Casares overestimates the volatility when he says it’s going to be happening for years to come. But I could be wrong. However, even if I’m wrong, volatility seeing the price dip by a few thousand won’t mean a lot once Bitcoin has a value of $50,000.00 or more, which could be sooner than you think…
More and more people are treating Bitcoin as a store of value. And it’s a better store of value than gold, which governments have been known to claim from citizens under penalty of seizure and fines or jail for non-compliance. And guess who has done it twice? That’s right, the USA. And guess what country has just about run out of gold in its reserves and has sold gold it doesn’t own to countries all over the world? Right again, the USA… And guess what they’ll give you in return, when you hand it in? You guessed it, the Face Value! So a rare UK gold Sovereign worth £516,000 at auction in 2014 has a market value of £1. That’s what you’ll get for it if it is claimed back by the Central Banks. People have gone all the way to the supreme court in the USA to try to contest this, the last time their government claimed the people’s gold, and they’ve lost the case, and set precedent!
Disclaimer and warning.
Near the end of the video, Wences Casares makes the point that people should never invest more than they can afford to lose. That is sound advice. He is not a financial advisor, and neither am I, so you be the judge of what you can afford to lose. And remember, more than 40% of marriages end in divorce. The figure is higher on split-ups for people living together but not married. One way of losing half your crypto-investment is to let your partner know about it. Maybe your interest and investments in crypto are not something you should share with your partner… Even her or his best friend who is your assistant bank manager won’t be able to tell about that. So don’t use your joint account to send SEPA payments for Bitcoin or whatever! Just saying, as the saying goes. Did I mention I’ve been divorced twice?
PS: Shortlink to this page: https://wp.me/p98E17-6d