BITCOIN is heading to +$1,000,000 until someone can tell me how the hell on earth do Banks & Governments intend to fund +$750 Trillion of Global Unfunded Futures Liabilities..!!
+$1 Million BITCOIN
I am amazed how many people out there have been smart enough to put a cap on the Target Price of BITCOIN..!!
These delusional experts who are predicting a $3,000..... $4,000...... $5,000...... $10,000...... $50,000...... target for BITCOIN are kidding themselves..!!
I am amongst a handful that has set an UNLIMITED TARGET for BITCOIN, and if I had to set a target, I would BEGIN at $1,000,000.
Setting a target when you are trying to measure one item that has a fixed quantity against an item that has an ever increasing quantity is a mathematical impossibility.
Anyone who thinks that they can do this is way, way, way, way, way, smarter than anyone who has walked this earth.
For me it is very simple.
Until someone can tell me how the hell on earth do Banks & Governments intend to fund +$750 Trillion of Global Unfunded Futures Liabilities I intend to stick with an UNLIMITED TARGET for Bitcoin..!!
For the ones who missed a recent interview I did with @JoshSigurdson here is the link.
Fixed at a cap of 21,000,000 coins and with a price of $1,000,000 per Bitcoin this would leave BITCOIN with a Market Capital of a mere $21 Trillion..!!
Global Unfunded Futures Liabilities
$21 Trillion is pocket change considering there is +$750 Trillion of Global Unfunded Futures Liabilities that have absolutely no way of being funded.
If, over the next decade, this +$750 Trillion of Unfunded Liabilities drops then I will drop my target for BITCOIN, however I doubt this will ever happen.
The Global Financial System is in a mess, a real mess, and has been since the advent of the Financial Derivatives in the mid 1980's.
In conjunction with Fractional Banking, these toxic Financial Derivatives saw the end of the Free Market and since then we have been in a +35 year downward spiralling decay of Economic Growth based on deceit, fraud and manipulation.
You will wish it was 2008
If you thought 2008 was bad, you will wish it was 2008.
2008 was nothing more than a wakeup call that the system does not work and if you thought things were repaired you are sadly mistaken.
Things were not repaired, the cracks in the system were merely patched over.
These cracks have now reappeared, only this time bigger.
BITCOIN has no DEBT
Unlike the Global Financial System, BITCOIN has no DEBT.
With a fixed cap on supply it is this that gives BITCOIN the ultimate power over Fiat Currencies and it is only a matter of time that the penny finally drops with people.
Measuring BITCOIN against BANANAS
Measuring BITCOIN against $USD is no different than measuring BITCOIN against BANANAS.
If there was only ONE unripe BANANA left in the world, with no chance of there ever being another, then you could argue that 1 BANANA could cost you 1,000,000 BITCOIN.
Now let's say there was a 1,000,000 BANANAS then you could argue that 1 BANANA would cost you 1,000 BITCOIN.
Fast forward to the worse scenario........
Now let's say there was a 1,000,000,000,000,000,000,000 overripe, inedible BANANAS, then you could argue that 1 BANANA would cost you 0.00000000001 BITCOIN simply because no one would want them.
Instead of BANANAS think of Fiat Currency.
What we have is 1,000,000,000,000,000,000,000 crappy worthless pieces of paper instead of inedible BANANAS, being valued against a fixed cap of 21,000,000 tangible and trade able asset.
+$1 Million BITCOIN
Fiat Currency is a Debt Instrument whose value will ultimately drop to ZERO, whereas BITCOIN is the total polar opposite.
It is this total polar opposite that cements the UNLIMITED price target of BITCOIN and why I am sticking firmly with my +$1 Million Target Price..!!
Thanks again for reading.
Stephen
I completly agree with your post, next crisis will probably be a systemic implosion. The mass will realize the actual financial system isn't sustainable. Gold , Silver and Cryptocurrencies will mainly share the privilege to protect our assets.
"I completely agree with your post, next crisis will probably be a systemic implosion. The mass will realise the actual financial system isn't sustainable".
I could not agree more, especially this bit......."next crisis will probably be a systemic implosion"..!! Thanks for your comment and contribution to the Blog, I appreciate it. Stephen
Yes, but the only problem of your thesis is to determine the correct date and time that will happen. So many people were wrong in predicting the next crisis would be imminent. In my opinion it could take still some years to the final implosion of the fiat currencies. Unfortunately of course.
everything works until it doesn't, the exact date will be impossible to determine
We are in it right now. The System snapped on 24th August 2015 and was confirmed on 18th December 2015. This was fully documented on twitter. Ask any of my followers. BITCOIN triggered a BUY signal on 11th December 2015, followed by both Gold and Silver 7 days later on 18th December 2015. All three are now in a Long Term 6 year BULLISH pattern. The crisis is well underway, its just that the Derivatives are holding things together in an attempt to give the illusion that it is business as usual. It's the Derivatives that are running the show now, nothing else..!! Most people are asleep and totally oblivious to the fact that the crisis is coming up to 2 years old. It is simply a Controlled Demolition..!! Stephen
This is saying "unless it forks or something" which it has, so....now what ?
Actually there are several other issues that are a problem. One has to consider why BTC would rise so high. BTC is deflationary so over time it should rise in value as long as there is demand for it. If central banks were to attempt to print enough fiat to cover these unfunded liabilities, that should cause other things measured against that fiat to rise. But because there are only 21 million BTC and many have already been lost, it may be likely that when fiat does fail and a blockchain currency replaces it, it will be one endorsed and created by TPTB. And that might end BTC's dominance and demand as the main stream sheeple will go to that instead of BTC. China is already working on a Gold backed blockchain based currency.
In fact more the system explode slowly more it's positive for cryptos and people in general.
Simply because they have more time to protect their assets and switch to cryptos and precious metals.
If the system would collapse in few days, banks would be closed, dollars, eurros and others centralized currency would quickly enter hyperinflation and loose a lot of buy power, so much wealth and liquidity would be trapped.
One more time people would have to refund banks to save the corrupted system, in Europe law has been modified and permit to banks in case of crisis to seize money of customers to refund the loss...
Liquid assets would not have time to be saved.
Let it be slow and preddictable :)
I could not agree more. Your comment mirrors that of my own thoughts..!! People are crazy to think that Banks have everything under control. They do. Just not to the benefit of the depositor..!! Great comment. Stephen
if they decrease the value of the dollar by 80% it'll kill the poor but the elites will survive
Yes, i totally agree with your concerns.. There cannot be any cap on target price for Bitcoin, sky is the limit for Bitcoin price to go....
Thanks again for your continued support. Have a great weekend. Stephen
wish i had some of it lol
Lets just hope most people make it through the next financial crisis.
Gold, silver and crypto's will be a huge asset to own!
Nailed it..!! Thanks for the comment. Stephen
The 750T unfunded liabilities seems a reasonable guesstimate, but how do we come up with this number?
I think governments will turn to things like cryptocurrencies in a way to cover debts and other national concerns as the dollar has been getting absolutely slaughtered recently and it doesn't seem like it will get any better.
Bitcoin is going to go through the roof any time now.
Get in now before it is too late.
I can't wait to see the follow on effect this will have on altcoins as BTC increases.
governments are not smart enough to do cryptocurrencies
It's amazing how so many people have no idea what's to come. with the way news work mass population have will be so shocked once fiat currency collapses and I am afraid you are right when you said it will be worse than 2008.
"It's amazing how so many people have no idea what's to come." I could not agree more. Stephen
You make some really interesting points and on the whole I agree. Current debt based currencies are looking to take a fall and its going to be nasty!! Bitcoin could well be a part of the solution, or at least a way of escaping or surviving the crash, however, until bitcoin is more widely accepted, I don't think it's going to solve all our problems!
Shared on twitter. Stephen
Shared on LinkedIn. Stephen
You Know You Sound Alot Like Mcafee Which I REALLY LIKE :) !!!
Yes!!, finally someone who understands that this whole notion that "the US dollar is backed up by the faith that its economy will not fail is delusional" and now they have printed an unsustainable unfounded amount of Promissory notes that are in no way backed up by any amount of existing tangible assets. The whole notion that they will manifest tomorrow is BS and they know it, this fallacy is almost religious in nature, kinda like heaven is great but you have to wait till you die to find out. Thank you @stephenkendal, I kept thinking that I was crazy for seeing this. The US is by far not the only culprit in this debacle but by insisting on being the world's Only Super Power and shoving its morals down all our throats, the dollar has infected all our economies and we know full well that the dollar is not and cannot back up its value by any tangible resource unless they have figured out how to mine UNOBTANIUM out on Pandora.