Case for Bitcoin to 1 million and what that means for Digitex!


#1

Hey Folks,

As some may know, I tend to be very bullish on cryptos in general. At first, i did not believe Bitcoin would ever reach 10,000 in the near future. Yet, how wrong was I!

Bitcoin, if one notices, continuously rises high after its extreme lows. I remember 8 years ago while studying computer science, friends and I would look at Bitcoin and think it was a joke! 1 dollar for this? Who would pay for that? What the hell is this?
(Note, we did not invest as anyone who has been to college knows, at 18, even 10 bucks is like 1000 dollars!)

Now we see Bitcoin expecting to break 50k this year!

The case for Bitcoin to reach 1 million is rather simple. As massive adoption of cryptos in general occur, the inflation rates of other countries will start to be impacted by the rise and growth of Bitcoin. As such, Bitcoin will be poised to hold the reigns as being the gold store value of the technological future.

As cryptos are predicted to head into the trillions in investment and worth, Bitcoin will be the foundation of that system.

This will reflect positively on Digitex whether it goes to 1 million or 100k. Why? Digitex is a futures exchange that is fee-less trading not only in Bitcoin, but Litecoin and Ethereum as well. Digitex profits in both markets, high and low! What that means is, you just have to sit-back, relax and enjoy the ride!

What are your thoughts? Do you think it will rise that level?

We see Bitcoin as of today around 8k, imagine a day where someone screenshots this when Bitcoin is 1 million saying, told you so!


#2

Hey James,

Great post! Though i have to say i dont share your vision:sweat_smile:
In 2013 we have seen BTC make a massive bull run, but since the early adopters hold a very huge % of coins they came to a point where their coins reached a huge value in USD or whatever their native currency is. This creates huge dumps eveytime we reach new highs and that makes allot of people lose money when they bought in that last 50% of the uprise.
Those people wont buy more anytime soon since they already got burned, they will sell or hold the coins/tokens they have… still they will never completly leave the crypto space, everyone ever invested will keep its eye on it.

Now 3-4 years later we see a new “hype” and found a new ATH, but since the early adopters (now also the people invested between 2013-2017) hold allot of coins/tokens and they will reach a point where they want to sell so that nice car or house can be bought.
Again many people lost huge ammounts of money in the last 6-8 months since the % of people invested in crypto now came in at a higher point than where we are now, they will again hold or sell if we dont move up… but many wont buy more since overall its a downtrend and they are already down allot of money.

My opinion: we need another 1-1.5year for the market/people to forget about the losses and regain faith again when we see another bull run that will be started by the people already into crypto. When that happens than yes, we could see 50-100k for BTC (if BTC wont be replaced by a new cap leader).
This will also be the time DGTX will gain most of its value because more and more people will want to short the market, and the platform is the perfect way to do that.

Robbiej010


#3

Dear Robbie,

I hope your well!

I understand your viewpoint. Though i disagree regarding the situation of the dumps, the good thing is, we both agree that eventually you will hit that 100k mark!

James


#4

I’m not so sure about Bitcoin reaching $1m, and for many reasons. However, I do think that the next 5 years will be a period of tremendous growth for cryptocurrencies, but in the end it will be other cryptocurrencies such as Ether that thrive and grow in value and Bitcoin will be forgotten…

On the negative side:

  • The public perception of cryptocurrencies is “Bitcoin”. And the public were all told by the media that Bitcoin was in a bubble, and it was. That means that for the majority of the general and uninformed public, Bitcoin has crashed and burned.
  • The public still sees no utility in Bitcoin. I get asked all the time, “Why would I buy Bitcoin?” And I don’t have a good answer for them apart from “Ride the waves, Bitcoin will still go up, and then sell and make a profit.” (i.e. speculation).
  • Banks and ministers are warning people that Bitcoin is just for speculators.

Thing is, I think they’re right when it comes to Bitcoin and the majority of the cryptocurrencies.
The invention of Bitcoin by Satoshi is as genius as the invention of P2P by Bram Cohen, and similarly misrepresented. Anyone who uses the internet is using a P2P network at some point, yet mention BitTorrent and the public perception is that it’s only used for illegally downloading media content. Just as the public only associate P2P with BitTorrent, the public only associates the blockchain with Bitcoin.

However…

  • The blockchain technology evolved and Ethereum was invented, making a distributed-computing operating system that anyone with some smarts can script, making things that were previously impossible possible (e.g. a commission-free, trustless futures exchange for trading digital currency prices). I can’t emphasise how incredible this is.
  • This hasn’t gone unnoticed by every major bank and government, who have almost all commissioned research into the blockchain and how they can use it.
  • Huge corporations are incorporating blockchain into new products. IBM is a driving force behind Stellar. UniCredit, UBS and Santander actively use Ripple.

As the public hears more and more about large companies and banks and governments using blockchain technology, the media around blockchain will become more moderate and informing. Instead of trying to explain how blockchains work, media will explain what can be done with it. No media now tries to explain how semi-conductors enable computing, they just talk about what we do with computers.

When this happens, there will be a slow dawning in the hive mind about the differences between cryptocurrencies, blockchains, protocols, and distributed computing. At that point I think we’ll see smarter investments based on functionality and utility, and it’s Ether and Ripple and those kind of currencies that will soar in price…

My prediction: Ether will reach $1m before Bitcoin :smile: