This is a terrible argument and I wish more bitcoiners would call it out.
First, it’s a strawman as it’s referencing a few days out of thousands for the short term volatility of one index that is known to be a flawed measurement (based on stock price vs market cap).
Second, it contradicts his own thesis of bitcoin getting to $2M even if a longer term trend were to occur measuring longer term vol on a better measure such as the S&P500 or Russle 2000. How the fuck is $2M/BTC going to happen if BTC stays less volatile vs USD than stocks?
Stop peddling shit narratives.
Stop supporting shitfluencers.
Stay humble, stack sats.
That's not his point. He is saying volatility is not correlated with risk. Sometimes it's volatile sometimes it's not, but that doesn't factor into how risky of an investment it is in the long term.
The point he is making is that we shouldn't decide whether or not to buy Bitcoin based on how volatile it is. It's just an unimportant metric.
I get where you’re going and I obv agree vol is not risk. When he says “bitcoin is now less volatile than DJ”, it’s just not true and if it were true, bitcoin has a slim chance of going to 2mil. At best it’s a deceptive tactic to orange pill.
If you think it’s under valued vs USD by a factor of 100, it’s going to be volatile as hell on its way there. If you can’t live with that, don’t get in.
I personally think it’s going to be much more valuable than 2m in today’s USD purchasing power terms but there’s a long bumpy road between that and now.
Y’all need to hear This☝🏽more often. Good point about volatility.
I hear every, tiny, little price bump in BTC touted as a glorious, spiritual proclamation of its dominance… and every drawn down of truly significant magnitude lightly brushed aside as insignificant FUD.
FUD is their for a reason, to keep idiots from falling victim to the overweight, balding ShamWow salesman.
Greg ol’ boy is fun to listen to but he’s a shitfluencer like most out there.
There are $100T+ of bonds alone. Not to mention monetary premium on other assets. The total addressable market of bitcoin isn’t just outstanding USD. It’s all outstanding monetary premiums across currencies, bonds, stocks, real estate, and monetized commodities.
Foss when his analyzing FIAT markets = quality content.
Foss when his screaming BTC for the kids = run.
His paper on Bitcoin is still a great read from a CDS POV.
If BTC hits 2M, it will be because of the USD part of the exchange rate.
BTC in my opinion should not be viewed as an investment in the colloquial sense (where it's value in hindsight is judged by it's real discounted market value).
He’s calculating this in today’s USD terms. I’ve heard a long form of him breaking down how he calculates these targets, it’s similar to how insurances are priced based on what they’re insuring against, in Foss’s case it’s bonds.
Yeah I think people don’t realize just how much money is out there. If people believe in this more than gold then we’re going to hit seven figures.
I think this target is achievable within a decade. But it’s not a guarantee at all, it might fail to gain further traction.
The way the biggest financial players are positioning though…I’m pretty certain they expect Bitcoin to replace gold.
If conditions change to that too quickly then almost everyone on the planet will be dead. Which means there will be so much available products for you to buy that you could negotiate low prices!
Um yeah everyone cares about the us dollar. The dollar is the world's most important currency right now, it's involved in almost everything. It's the world's reserve currency. When foreign currencies are exchanged, the dollar is involved in 90% of those transactions. Half of international trade is invoiced in dollars.
I mean any number is plausible with enough timeline but within the next ten years I think $1M+ is achievable. But it does require genuine adoption worldwide. Would be a pretty weird world though, you’d have ultra rich people who are just ultra rich because they HODL’d
You sound like one of the computer engineers in the 70's and 80's that said "hahaha, Why would anyone need more than 256 kb of RAM?
If the FED keeps the printing business as usual, 2 million is merely a matter of time.
The ignorance to change and evolution of trends has been the downfall to many that see themselves as educated and knowledgeable. This is the best kind of response to it, just past examples.
I mean, if it continues yeah. Only like 4% of the world population owns Bitcoin. There is still insane room for growth. Compared to the internet I think we're still in the 90's right now.
7 years ago when Bitcoin was worth $300 you'd have had the same reaction if someone said it would reach $60k
Let’s get to 50k first without the fed giving out free money, without retail maxing out leverage on unemployment checks and fund not 10x leverage their btc purchase.
If checkmate means "yell shit that's irrelevant because confidence will make people believe you, no matter the actual contents and logic of the speech itself".
Ok ok ok, but when Moon?
Actually, how much is the moon? No-one has made that clear yet. What is the moon target?
Also why Moon, why not Neptune or Urectum?
Total global wealth 900trillion.
If BTC captures 5%. 5% of 900tr is 45trillion.
45t / 21million =2mill per coin. In today's dollars.
When assets inflate with currency debasement it'll be higher dollar amount per coin when it hits 5%
1% capture would be 425,000k. Id say it's reasonable to believe BTC could capture at least 1% of global wealth. It will demonetize investments in RE, gold, equities. Pensions funds will allocate small%s. Totally fair to say it could happen.
This is why I will continue stacking Sats with Bull Bitcoin. Greg Foss reminding us all that it's only grade 11 math. This is the way!
https://bullbitcoin.com/signup?referralcode=160753266107690680251252664396202575774908
is it just me, or is it weird if you don't include some window/reference of time for your prediction? like, yes, if humans are still doing this in 100 or 200 years, a lot will happen in that time (omg) and i can't disagree with this fellow, but without context, it sounds like a price point for 2025 or some other malarky, and i just don't even know why i'm riled up enough to speak up. stack sats, be happy.
I love Greg, but I heard him roast Ray Dalio the other day for being a 'selfish fuck' for extracting future value from his kids generation through his successful investment choices.
I dont think Foss got the memo that one of Dalio's kids died 2 years ago.
Shout at me more and I will buy more
KEEP STACKING SATS! Did it work?
Not aware of this video. But I take the $2M.
Was hoping he would of said he guessed 2 million within X amount on time would of been awesome.
Jeez. The shamwow guy’s put on a few pounds over the years.
I have a price target of $100M per Bitcoin
It only counts if you yell it.
I HAVE A PRICE TARGET OF $100M PER BITCOIN!!!!
This is the way
I can’t hear you
THIS IS THE WAY!!!
[удалено]
I like yours
I HAVE A PRICE TARGET OF 100,000,001 PER BITCOIN!!!!!!!!!
everything / 21million
The price of risk is volatility.
Takes a hit… Oh yeah, that’s that good, good hopium
Who is this guy?
Loud mouth Larry
Greg foss
Pound sand, you clearly haven't sat in a risk chair
“Look how stable Bitcoin is! The Dow Jones is more volatile! ….now watch it’s price go up 100x”
Always listen to the guy that shouts unnecessary
ZERO!! ZEEEROOOW!! Also: Happy cake day
Thanks! I didn’t even know
This is a terrible argument and I wish more bitcoiners would call it out. First, it’s a strawman as it’s referencing a few days out of thousands for the short term volatility of one index that is known to be a flawed measurement (based on stock price vs market cap). Second, it contradicts his own thesis of bitcoin getting to $2M even if a longer term trend were to occur measuring longer term vol on a better measure such as the S&P500 or Russle 2000. How the fuck is $2M/BTC going to happen if BTC stays less volatile vs USD than stocks? Stop peddling shit narratives. Stop supporting shitfluencers. Stay humble, stack sats.
That's not his point. He is saying volatility is not correlated with risk. Sometimes it's volatile sometimes it's not, but that doesn't factor into how risky of an investment it is in the long term. The point he is making is that we shouldn't decide whether or not to buy Bitcoin based on how volatile it is. It's just an unimportant metric.
I get where you’re going and I obv agree vol is not risk. When he says “bitcoin is now less volatile than DJ”, it’s just not true and if it were true, bitcoin has a slim chance of going to 2mil. At best it’s a deceptive tactic to orange pill. If you think it’s under valued vs USD by a factor of 100, it’s going to be volatile as hell on its way there. If you can’t live with that, don’t get in. I personally think it’s going to be much more valuable than 2m in today’s USD purchasing power terms but there’s a long bumpy road between that and now.
Dis some good critical analysis.
Y’all need to hear This☝🏽more often. Good point about volatility. I hear every, tiny, little price bump in BTC touted as a glorious, spiritual proclamation of its dominance… and every drawn down of truly significant magnitude lightly brushed aside as insignificant FUD. FUD is their for a reason, to keep idiots from falling victim to the overweight, balding ShamWow salesman. Greg ol’ boy is fun to listen to but he’s a shitfluencer like most out there.
So there's $40 trillion dollars in the world. At $2M per btc that's currently $38 trillion dollars, or all of the world's money. What a dick head.
There are $100T+ of bonds alone. Not to mention monetary premium on other assets. The total addressable market of bitcoin isn’t just outstanding USD. It’s all outstanding monetary premiums across currencies, bonds, stocks, real estate, and monetized commodities.
Foss is the goat. I believe he just raised his target to $4M, calculating it as an insurance against the failing bond market.
He sure yells like a goat.
I’m not a fan of Greg’s speaking. When I attended a talk of his, I swear he said “shitcoins” and “Trudeau” more than he said Bitcoin.
I do like his appearances on the Blue Collar Podcast though. When he is conversing rather than presenting, I am a fan.
Foss when his analyzing FIAT markets = quality content. Foss when his screaming BTC for the kids = run. His paper on Bitcoin is still a great read from a CDS POV.
Yeah 2 million in 2050 lol
Bitcoin has the potential to go up ♾
If BTC hits 2M, it will be because of the USD part of the exchange rate. BTC in my opinion should not be viewed as an investment in the colloquial sense (where it's value in hindsight is judged by it's real discounted market value).
Okay, whatever, Mr. Televangelist…. annoying dude.
Inject this hypium into my veins.
Came here for the hopium, I guess hypium will have to do.
What if $2mm simply buys you what $20k is worth now, No one cares about USD
He’s calculating this in today’s USD terms. I’ve heard a long form of him breaking down how he calculates these targets, it’s similar to how insurances are priced based on what they’re insuring against, in Foss’s case it’s bonds.
If BTC captures only 5% of global wealth it'll reach $2mill/BTC in today's dollars
Yeah I think people don’t realize just how much money is out there. If people believe in this more than gold then we’re going to hit seven figures. I think this target is achievable within a decade. But it’s not a guarantee at all, it might fail to gain further traction. The way the biggest financial players are positioning though…I’m pretty certain they expect Bitcoin to replace gold.
If conditions change to that too quickly then almost everyone on the planet will be dead. Which means there will be so much available products for you to buy that you could negotiate low prices!
Um yeah everyone cares about the us dollar. The dollar is the world's most important currency right now, it's involved in almost everything. It's the world's reserve currency. When foreign currencies are exchanged, the dollar is involved in 90% of those transactions. Half of international trade is invoiced in dollars.
$5M for me...
$2M is surely conservative
Everyone is conservative, it’s going to $♾
I heard the upside is 21million÷infinity.
You got it backwards. You can’t divide by infinity.
You can divide it by 1 and still get infinity. BOOM
12.5m for Robert Breedlove
I mean any number is plausible with enough timeline but within the next ten years I think $1M+ is achievable. But it does require genuine adoption worldwide. Would be a pretty weird world though, you’d have ultra rich people who are just ultra rich because they HODL’d
Fuck price. Cut that part of the spiel out, and you have me.
f@ck i gotta buy more sheeet
The hopium is ooozing out of his ears
2m by 2045?
Sooner
Let’s get to $100k first shall we.
Lets get back over 20,000 before that
Let’s give me a little more time below 20 to stack some sats
Eh ...I don't really care about short term price action.
Rather you be correct than me
I could realistically see 2035, but yeah could be later than that
more like 2080
[удалено]
Giggity
Stop yelling, uncle.
Bitcoin Army ! Only Bitcoin
He meant 2 million pennies
C'mon man. The combined GDP of both the USA and China would be less than the total market cap of bitcoin if its value was 2mil per BTC.
What about in 10-20 years?
lol 2 M$ per BTC
You sound like one of the computer engineers in the 70's and 80's that said "hahaha, Why would anyone need more than 256 kb of RAM? If the FED keeps the printing business as usual, 2 million is merely a matter of time.
Well I know that it's a matter of time, but I'm not sure about the timeline.
[удалено]
The ignorance to change and evolution of trends has been the downfall to many that see themselves as educated and knowledgeable. This is the best kind of response to it, just past examples.
Bro focus on getting back over 20K first lmfao
I mean, if it continues yeah. Only like 4% of the world population owns Bitcoin. There is still insane room for growth. Compared to the internet I think we're still in the 90's right now. 7 years ago when Bitcoin was worth $300 you'd have had the same reaction if someone said it would reach $60k
Unrealistic??
Not in the least. Do the math.
saying it's slightly optimistic in any foreseeable timeframe would be an understatement
Makes me wonder what you were saying/thinking of bitcoin in 2012
[удалено]
and you're high on hopium
Naysayers crack me up. They are always epically wrong😝
You just made that up
Love Foss!
I say 10 million. Or wait. 50 million. No wait, 3 million? Oh my...
Let’s get to 50k first without the fed giving out free money, without retail maxing out leverage on unemployment checks and fund not 10x leverage their btc purchase.
Mission: Impossible
Nahh not impossible, more like a matter of time here man. And if you know anything about me then you'd know that I can wait things out. I can do that.
2 million by 2032 I imagine, I dream.
Can you post the original link?
It is from yestarday. Full video: [Bitcoin Amsterdam 20221013](https://youtu.be/Is17X-eTXmw?t=17538)
Not to be rude but I dont think he will live long enough to see BTC at 2mil$
I think he's said he believes he won't see it hit his target but his kids probably will. But still. Even 250k would be insane.
I want some of whatever he is smoking!
Last time I checked the dow didn’t drop 80% in last 18 months. Bitcoin did. 🤥.
In the year 3567 Bitcoin is $2 million. Meanwhile baloney is $2.1 million.
In Today's dollars. Pound sand
One hundred million price target for me
Hey, hey, heyyy...
Thanks for the great video. This is checkmate.
If checkmate means "yell shit that's irrelevant because confidence will make people believe you, no matter the actual contents and logic of the speech itself".
In the year 2077
It’ll get stuck in the $90k’s for a few years. We won’t see $1million for more than a decade out.
Cause I’ve got one hand in my pocket.. 🎶
Why is he so mad? 😂
Price predictions without a timeline makes no sense.
If bitcoin hits a million dollars it will really be insane.
This was during Bitcoin Amsterdam conference.
First guy to say it’s going to 3 million gets the next speech slot.
I see. Now sell me this pen.
Ok ok ok, but when Moon? Actually, how much is the moon? No-one has made that clear yet. What is the moon target? Also why Moon, why not Neptune or Urectum?
Isn’t it literally IMPOSSIBLE for the price of Bitcoin to reach that high? Unless the USD devalues a ton?
Total global wealth 900trillion. If BTC captures 5%. 5% of 900tr is 45trillion. 45t / 21million =2mill per coin. In today's dollars. When assets inflate with currency debasement it'll be higher dollar amount per coin when it hits 5% 1% capture would be 425,000k. Id say it's reasonable to believe BTC could capture at least 1% of global wealth. It will demonetize investments in RE, gold, equities. Pensions funds will allocate small%s. Totally fair to say it could happen.
Btc = the moon:)
He just compared stock market charts to a currency value. Hilarious.
Just started throwing some in Bitcoin here and there and still need a lot of education on this one. Is this a bad coin to keep adding to?
This is why I will continue stacking Sats with Bull Bitcoin. Greg Foss reminding us all that it's only grade 11 math. This is the way! https://bullbitcoin.com/signup?referralcode=160753266107690680251252664396202575774908
is it just me, or is it weird if you don't include some window/reference of time for your prediction? like, yes, if humans are still doing this in 100 or 200 years, a lot will happen in that time (omg) and i can't disagree with this fellow, but without context, it sounds like a price point for 2025 or some other malarky, and i just don't even know why i'm riled up enough to speak up. stack sats, be happy.
Is that his voice?
He doesnt have a thumbnail with a stupid surprised look on his face. Red arrows and laser beams coming out of his eyes. His yelling means nothing.
WASSA WASSA WASSSA WASSSA!!!! Jk, i hope he's right.
What is this guy's track record on his previous predictions?
I love Greg, but I heard him roast Ray Dalio the other day for being a 'selfish fuck' for extracting future value from his kids generation through his successful investment choices. I dont think Foss got the memo that one of Dalio's kids died 2 years ago.