Bitcoin Future: Shoot for the Moon, or land in the FUD? The rise, and rise of Bitcoin
Quito, Ecuador, December 7th, 2017
At the moment there’s a buncha Fear, Uncertainty, and Doubt (FUD) in the Facebooks and Reddit Bitcoin worlds right now. And all of that is warranted, given how the (real) futures whale investor profits whether a market goes up – or down.
And unlike a real commodity like corn costing more, or less, because of uncertainty (rainfall, competition, insects, disease…) the only uncertainty with Bitcoin is how much the whales want the market to dive (or rise).
My thoughts are: it doesn’t matter what happens. What matters is what happens next.
ETFs and 401Ks
The InkyWinkyVosselhof twins tried (and failed) to singlehandedly jumpstart the Bitcoin ETF market with their ill-gotten Facebook millions, but a second go with futures approved will more than likely be the next step in bitcoin’s r/evolution.
The current ETF market is over 4 trillion dollars. The 401K and IRA Retirement market that is one of the major purchasers of ETFs is 26.6 Trillion dollars. And, as everyone’s favorite self-help gazillionaire James Altucher noted, there are 15 million millionaires that are all asking their advisors if they should get into bitcoin, or not?
Sure, what the heck, buy a Bitcoin…or eight. Diversification is never a bad idea.
Oops, but there’s only 21 million of those suckers, and 4 Million have been lost, sent to incorrect public addresses – what have you.
But, I’m a gazilionaire! I want a full Bitcoin!
Sure, but it will cost you…
…or, you can park that 5% of that 30 trillion bucks on the basket of the top 10 Cryptocoins in an ETF that is completely uncorrelated with anything else you hold, you know: diworsify!
Well let’s see, 5% of 30 trillion is…carry the 4 equals…a ocean of filthy lucre pouring into a thimble-sized asset. An asset that doesn’t ebb and flow with the season (aka “corn”) it only ever was, and ever will be, 17 million, once you subtract those bits of coin forever lost.
We may one day look back on the 1 million-dollar per bitcoin forecast by 2020 by potential dick-eater John McAfee as woefully low.
While the whales may have their go at making the market dive, because they know in just a little while all of those coins the retail crowd tossed aside because their hopes and dreams just got shredded in the baleen gills of the futures mega-whales will now, inevitably, be hoovered up into the Plesiosaurian jaws of the retirement account managers bottom-feeding straight after.
And what happens next?
They rise and rise to the moon, and beyond.
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