Showing posts with label forbes. Show all posts
Showing posts with label forbes. Show all posts

Forbes Editor Repeats Outdated 'Bitcoin Can Never Beat Gold' Talking Points...

Editor-in-Chief of Forbes business magazine and former Presidental candidate Steve Forbes focuses on Bitcoin in this episode of his bi-weekly 'What’s Ahead' piece.

Since this is a perfect example of outdated thought - his main talking points (which were true once upon a time) have now expired.

First - why bother talking about national currencies backed by gold being stable, when the US dollar hasn't been since 1973, and never will be again? There are no proposals to return to the gold standard. So this is simply some 'back in my day' nonsense.

Secondly, gold being 'rare' won't last much longer. Billionaires are literally already in the process of figuring out how to mine asteroids.  Sounds far fetched? There's over 17,000 within reach, and Elon Musk is among those who say it can be done.  Think of how fast both rocket and robotic tech is moving, space drones that mine gold and diamonds from asteroids doesn't feel that far into the future. See our article 'When Private Space Industry Begins Mining Asteroids, Gold Prices Will CRASH! But Bitcoin's Limited Supply Remains The Same'.

Global Crypto Press // Breaking Crypto News

Steve Forbes Sees Cryptocurrency As "High-Tech Cry For Help" - Response To Gov Mistrust, Unstable Printed Money...

Steve Forbes, Chairman and Editor-in-Chief of Forbes Media, discusses the future of cryptocurrency and blockchain technologies, and the implications of the technologies for global money, global security, and internet architecture. Forbes views cryptocurrency as a "high-tech cry for help" as a result of the the instability of government printed money. However, it's chief flaw is is also a lack of stability, but Forbes believes it will one day become stable and will give people an alternative to government money.

Courtesy of Center for Natural and Artificial Intelligence

Forbes: Bitcoin could hit $10,000 in time for Christmas!

Forbes, a widely respected US financial magazine which has been around since 1917 published the prediction written by Panos Mourdoukoutas, a Professor and Chair of the Department of Economics at LIU Post in New York, and a teacher at Columbia University.

In summary, saying Bitcoin has 3 signs giving it a "bullish" investment outlook.

Bitcoin has recently passed 3 tests:

The Wall Street Test - as major established investors enter the cryptocurrency space.

The China Test - with China's ban showing Bitcoin could withstand interference from a major world power.

The Stability Test - after canceling the SegWit2x fork, the currency seems to be less volatile, with no major disruptions planned in the near future.

You can read the full length article here.

It may be a very merry Christmas!

Author: Justin Derbek
New York News Desk