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For comparison, he also thinks it's going to $40K by EOY 2018. http://www.businessinsider.com/novogratz-bitcoin-could-be-at...
[1] https://www.vanityfair.com/news/2009/04/fortress-group200904...
Yeah, this seems like weird erratic behavior. I mean if you are raising a big fund for bitcoin and you think it's going to drop, that's good for yoi because you can buy it cheaper. And if you are not a bitcoin bull, why raise a fund in the first place? Something is up with this guy
Not uncommon for public equity hedge funds. Makes sense that someone would do it in the wild west of cryptocurrencies.
For comparison, he also thinks it's going to $40K by EOY 2018. http://www.businessinsider.com/novogratz-bitcoin-could-be-at...
And he also says "It is going to become the biggest bubble of our lifetime" in the video embedded with the bloomberg article.
Earlier quoted context omitted.
>Being hacked every which way Do you want to clarify this? If you meant what I think you meant, you're incorrect.
I assume he meant people have had their coins stolen, usually from exchanges, really not much different than your bank getting robbed, although in this cause your money is gone and the exchange doesn't cover the theft.
It could also go back to $100. Bitcoin has no mainstream use right now. It's too expensive to transact in terms of money and time, it's too volatile to be a store of value, it's too technical to be used casually, it's too fragile since it gets hacked every which way, and it's too easily copied to be rare.
Bitcoin never got hacked, unsecure middlemen did (or pretended to have been)
Yeah, this seems like weird erratic behavior. I mean if you are raising a big fund for bitcoin and you think it's going to drop, that's good for yoi because you can buy it cheaper. And if you are not a bitcoin bull, why raise a fund in the first place? Something is up with this guy
He could be massively shorting it and using negative press to panic retail investors into selling, driving down prices further (and increasing profits on his short). Not uncommon for public equity hedge funds. Makes sense that someone would do it in the wild west of cryptocurrencies.
Yeah, this seems like weird erratic behavior. I mean if you are raising a big fund for bitcoin and you think it's going to drop, that's good for yoi because you can buy it cheaper. And if you are not a bitcoin bull, why raise a fund in the first place? Something is up with this guy
It could also go back to $100. Bitcoin has no mainstream use right now. It's too expensive to transact in terms of money and time, it's too volatile to be a store of value, it's too technical to be used casually, it's too fragile since it gets hacked every which way, and it's too easily copied to be rare.
The lightning network looks very promising in its ability to scale and reduce fees. It would make transactions nearly instantaneous, have reasonable fees, and help scale the network.