An Impossible Fantasy - The Bitcoin Tulip Gold Rush - BTC At One Million

Readers of Barfstew recently ran across the link (shown below) from the cointelegraph.com about a hedge fund called Wedbush that listed the odds of a BTC price at ONE MILLION dollars by 2016 as ONLY 5,000 to one - they called it the `internet outcome' for BTC's price. Which set my mind into speculation about such a fantasy... and looking ONLY at selected aspects of such an fantasy occurrence. 

As a trader of cryptocurrencies for the past 8 months... what do you think would happen to the other 600+ coins listed on the various crypto exchanges if BTC became 1 million dollars each? No one knows of course... but here's my fantasy prediction:.... and it is dependent on the steepness of the rise (remember in this fantasy this happens in the next four months)... with the first spike taking it to 1,000 dollars from the current 300 dollar levelish...lets say the rise happens in just 4 days, such as  400,600,800,1000 and the market cap for BTC triples roughly to the 12 billion dollar level.... what do YOU think would happen to the price level of OTHER crypto coins?

IN MY OPINION... they would CRASH and crash hard... as EVERYONE would be scrabbling to get as much BTC into hand as possible. 

One coin after another would have whales selling entire positions into the buyers. Coins that would be worth 1000's of satoshi's before the BTC spike, would be going for FRACTIONS of what they were worth the days before (and these would be the FEW attempting to maintain some value in comparison).... I wouldn't be surprised in a quick rise as described above to see most coins sell for 1/10 their prior value (despite it being only a three fold increase) ...few will be spending the increasing value their BTC to buy the now perceived as `junk coins' at this point. 

IMO.

Then, as September approached... the value would again multiply by a factor of 10... to 10,000 per coin - with a market cap now approaching 125 billion for BTC.....  more than enough to catch the attention of the stupid that simply follow whatever grabs the interest of the MSM. 1,000 week one, 3,000 week two, 6,000 week three and 10K week four (you a coin holder can feel your adrenaline rising, right) .....however now, ONLY a handful of coins exist in the exchanges anymore with any real value.....that said, that handful of 15 coins also has a marketcap of 12 billion now(meaning their value too would be growing in relation to previous fiat values) .... however, the `cryptocrash' (for all coins not of the elite 16) will affect the others deeply - with the other 580 coins having nearly NO value...perhaps worth a  half billion total....before their final crash which is to come. All discussion in the crypto world now is focused on `how many coins are truly needed' - a discussion that will affect every holder of any cryptocurrency. 

Because the market flushout is coming in October ... as all shakeouts do.

In October, yet another 10 fold increase,  to 100,000 dollars a coin - which would finally attract the world money movers and governments... and consequently, the actual usage of BTC would have been altered significantly towards big players... hedge funds, governments, pension plans.... everyone wanting to get in before the now talked about 1 million dollar possibility... and with BTC at ONLY 100,000 dollars and with a marketcap of over 1 trillion dollars (as much money value as the IMF has in emergency funds) ... it, Bitcoin,  has become the only player in town for some kinds of HUGE transactions between governments... fiat values for national coins are now being affected by the value of BTC - and how many holders might have some BTC in any society could determine the richness of the nation or society.... many stories surface in China and America, in their MSM's -  about the early traders who are now millionaires...much like the first BTC spike years ago. 

TONS of stories about the folks who ONLY had 1 or 2 full BTC's - and are now `rich' - and additional stories about the ones, the few individuals,  still hanging onto a piece of a BTC coin hoping for even more.... however, with the price rising to 100K....  NO other coins even trade for BTC anymore on ANY of the EXCHANGES -  and a whole second market of crypto begins to develop around the core 15 coins or so.... but the shake out is HARD now that coins NO longer have a value tied to the BTC platform.... even the core coins fall in fiat value from the very inflated figures prior to the cutoff of trading them for BTC.

Finally the Bitcoin Tulip Gold Rush happened in November and December as world markets adjusted to BTC becoming a 1 million dollar product worth a marketcap of 14 Trillion dollars (just about the PERFECT FIT FOR THE WORLD TRADE LEVEL OF 18 TRILLION OR SO).... could this be a goal...? Will BTC be the commodity for WORLD TRADE to end the problem of local currencies fluctuations?

The fantasy ends there as 2016 begins anew.. with a new world TRADE currency established by the money players.... while the banking sector takes a look at Ripple, making it a market leader amid a new crypto market that now looks for functionality  - still worth billions more than before the BTC spike only 120 days prior - but billions less than before the cutoff with BTC exchanges. With traders kicking themselves in the butt for NOT hanging onto pieces of BTC as the spike was happening, or trading them for other, now worthless,  cryptos on the way up... that soon crashed to zero in comparison to BTC.
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IMO the big money could create any scenario they wished with the value of BTC... it's wise to have some...even tiny bits.
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I hope you enjoyed today's Bitcoin fantasy... how about spreading it on social media?

Links referred to below:

http://cointelegraph.com/news/114859/investment-firm-wedbush-predicts-400-bitcoin-by-2016-advises-to-buy-gbtc

http://blogs.wsj.com/economics/2014/03/25/everything-you-ever-wanted-to-know-about-washingtons-battle-over-the-imf/

https://www.wto.org/english/news_e/pres14_e/pr721_e.htm

Ribbit Rewards Coin.... At The Edge?

I'm working on a MAJOR update ... in the meantime.
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One of the first coins that I've enjoyed watching emerge with a game-plan for Crypto is Ribbit.me - with the Ribbit Rewards coin (trading on Bittrex at a discount IMO - this coin IMO could at least Quadruple IMO and become a category leader ).... as they hope to crank up a Bitcoin and Crypto Marketplace (using the coins I think as a reward of the transaction)...  Marketplace.life .... they have also been in the news other ways such as having all their team members be certified.. by the Digital Currency Council A rarity in Crypto. Will the marketplace become real? Will more development teams want to be certified?
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More on Bitcoin Marketplaces
Counterparty Team Out Of Overstock Connection
The CounterParty Coin Is On The Upswing

This Article Mentions Two More

while mentioning how a merchant was banned from Ebay for suggesting they'd take Bitcoin for payment

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Did Putin Signal A Bitcoin Policy Change?

seems like everyone is waiting for the other guy to go first

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Bitcoin to 400 By 2016 Says Investment Firm Wedbush

with a 1 in 5000 chance that it will go to 1 MILLION by 2016

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It's old news now,,,, but BTC did spike on

The Greek Financial Crisis

might Europe finally get the idea about BTC?

Ultimately will `scarce' coins like Unobtainium be value centers?

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This is well beyond the scope of the MSM and much too disruptive... but Are Negative Interest Rates The Doom For Cash Holdings?
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Crypto `Scarcity' And Potential Fiat Value - Part One

Hello Barfstars.... Without question my 3 part post and analysis of scarcity in May has been this blogs most popular posts of the `Bitcoin Era' of Barfstew - those links are at the bottom of this post. Pageviews are now approaching 2000 a day on a good day (advertisers, this is a bargain) - males looking for beautiful information about a new passion. Cryptocurrencies. The new coin collecting.

BUY YOUR FIRST BITCOIN FROM COINBASE (THE ONE I USE... YOU SHOULD TOO)

Today's post once again will be featuring an analysis of the various `fiat leaders' at certain levels of scarcity - much like the previous post. Certainly when you are investing in Crypto it's important to know - scarcity - and `usefulness'/utility - and presence/following in community.... as basic attributes of a cryptocoin. (IMO - Avoid coins with no website. And be very cautious about ? as the figure of coins available, many coins list ? making your purchase a pure gamble.)

More importantly - I've grouped this analysis to provide coins that aren't so much apples to oranges - as each coin in a group is comparable in size to at least a factor of 2.

Are the coins in your portfolio... over priced or under-priced? What dreams do you have for the value of the coins in your portfolio?
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Information from Coin Market Cap (JUNE23RD)

Extreme Abundance Coins ; 150 Billion+ Available

(5 coins in category) 

BYTECOIN - 0.000028

IF the coin you are investing in has over 150 billion available remember that BYTE is the top valued coin at 2/1000th's of a penny.

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Abundance Coins; 83 Billion - 113 Billion Available

(10 coins in category)

DOGECOIN - 0.0002

Dogecoin is the most valuable coin in fiat value in this category, worth 2/100th's of a cent.

The least valuable coin in this category is the CORGICOIN - worth  $ 3e-08 - that might suggest that Corgi is the most undervalued in this category - up 30% in the past 7 days too.

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Dream Big Coins; 30 Billion - 69 Billion Available

(7 coins in category)

RIPPLE  is the most valuable coin in fiat value in this category, worth ONE CENT. (0.0106)

Five coins in this category all have very similar values at 0.000002 or 0.000003 (2 or 3, - 10,000th's of a cent) FLAPPY, KARMA, TICKETS, HTML AND PANDA. Only ZEIT coin has `lifted off' at a value of 0.000012 - then again any of the other five at this value is a 4-6 fold increase potential.

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 Dream Coins; 12 Billion - 27 Billion Available

(10 coins in category)

MINTCOIN is the most valuable coin in fiat value in this category, worth 0.000075 - or 7.5 1000th's of a penny.

Most of the other coins of this category have values similar to the Dream Big Coins category above 0.000002 or 0.000003 - only Reddcoin at 0.000015 and Smileycoin at 0.000007 have broken out from the pack. This might suggest that the coins worth 0.000002 or `3' - might have some room to run. Indeed a look at some of these coins increases in just the last 7 days might suggest some upward movement - 

HEISENBERG +2,158%

CARPEDIEM +363%

SMILEY+208%

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 Fantasy Coins; 6 Billion - 10 Billion Available

(10 coins in category)

DIGITALNOTE is the most valuable coin in fiat value in this category, worth 0.00019 -- about 1/50th of a penny.

Two coins are not worth even 0.000001 including PHOTON,  and BATCOIN. But are DEVCOIN and DOGECOINDARK opportunies and undervalued?

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 Expectation Coins; 2.5 Billion - 5.2 Billion Available

(6 coins in category)

BITSHARES edges out STELLAR in market cap and fiat value in this competitive category. Bitshares (0.0073 -- 7/10th's of a penny) Stellar (0.0035 - a 1/3 of a penny)...each worth 1000's of times what POPULAR coin is valued at. 

And is LITEDOGE an opportunity at Bittrex when valued at (0.000007)? 

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Possibility Coins; 1.0 Billion - 2.3 Billion Available

(14 coins in category)

This VERY competitive category has only produced one real winner .... the NXT coin 0.012 fiat... valued at just over a penny and perhaps the most traded coin among multiple exchanges and for multiple currencies. That alone can be a driver of `value' occasionally.

Nearly ALL of the other cryptocurrencies in this category are light years behind in fiat value. IF you want a LONG SHOT - try UFO coin (what if one lands?) - or perhaps COMMUNITY COIN at Cryptsy - (not even a current website... but what a name). 

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Expect Part Two Soon

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You Might Also Like

Scarcity Part One

Scarcity Part Two

Scarcity Part Three

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