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Be Cautious About Harvard Economist's Predictions of BTC Price!

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I thought this was a real gem today! 

I was checking on the financial markets and I saw a headline about "Harvard Economist Says Bitcoin Will Not Replace Fiat Money."  Now that I thought that was odd, because I've never seen anyone suggest Bitcoin could do this so I read it.  Sure enough, perpetual Bitcoin (and cash btw) hater Kenneth Rogoff of Harvard U. was explaining that Bitcoin had gone down and was a classic bubble.  Yeah, yeah, heard that before.  Anyway, THIS was what merited a post here:

Quote

“In 2012, my daughter who was 13 at the time, mined 24 bitcoin and owned them. She told me that someone had offered her an Amazon giftcard and what should she do. I told her to sell,” said Rogoff.

Classic!  Gee, lets see, she'd be 19 today and could have 86,400 USD at current prices and "genius" big shot Harvard economist told her to sell for less than 100 USD per coin.  (The price in 2012 very much lower than even 100 USD for most of the year.)

So serious question, how would your relationship with your father be effected if he told you to dump your 24 bitcoins back in 2012?

I think I'd stop taking financial advice from him!

This is why I always say when it comes to prices there is no way to know, the future for things like this is unknowable.  Focus on the project and technology and the people associated with it.  That seems to be the best guide.

Finally, to be fair, Rogoff does admit Bitcoin may be very valuable under some circumstances, he likens it to a lottery ticket.

Keep hope alive!

Link to article:  https://finance.yahoo.com/news/ken-rogoff-possibility-cryptocurrency-taking-fiat-money-basically-zero-084026848.html

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I never really take other peoples prediction too too seriously or i mean to say, to be 100% truthful.. people makes predictions in order to either genuinely want to share their knowledge and help others, some do it for their own agenda and could lead other astray and some just do it for the heck of it.. i dont mind when i hear them, but definitely would research it myself and make sure im informed rather than just follow the herd, xD .. thanks for heads up wrry.

 

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2 hours ago, LachlanReid said:

I'd straight up slap my Dad.

And you would be right to do so!

I'm still shaking my head over this one.  She got them by mining, basically for free, and in your bone headed arrogance you have her dump them for a fraction of their eventual value.  Sell some, sell half, but sell all, come on!

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2 hours ago, wry said:

 she'd be 19 today and could have 86,400 USD at current prices

And half-millonaire on December 2017 (24*20= 480,000 USD)

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26 minutes ago, wry said:

And you would be right to do so!

I'm still shaking my head over this one.  She got them by mining, basically for free, and in your bone headed arrogance you have her dump them for a fraction of their eventual value.  Sell some, sell half, but sell all, come on!

My friend had 6 bitcoin, he traded that for a quarter of weed (street value in the uk - £70) a couple years ago, I told him he shouldn't but he went and did it anyway. he was kicking himself in Dec 2017 - of course I told him "I told you so"

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I may take other people's suggestion but not as an advice to consider. Deeper study and research is my main stuff when making a decision about cryptocurrency. I made some income in the past and for me I believe that I can make more in the future. Since the boom of bitcoins already have taken the virtual economy and people made more  virtual coins to compete with it will make tons of story to discourage new investors to invest more in bitcoins, but for me bitcoins is already stable and made some profit from it so I will stick with it.  

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