Wednesday, April 3, 2013

Jeff Tucker: I Don't Even Need a Brain for This

Jeff Tucker writes on his Facebook page:
Last week I wrote: "My instincts right now tend in this direction. I’m seeing BTC at $250, then $500, and then $1,000 by year-end." I was denounced for saying this. Now my prediction seems normal, like a no brainer.

Here's a more sane view from view from Societe Generale currency analyst Sebastien Galy:
It's a fascinating, very small niche market. There's a limited amount of supply that's available, and it creates waves of upswings. It's a bit like the gold rush in California. Everyone is rushing into and it and everyone is over-excited. But that makes it very risky. It should come with significant warnings of buyer beware.


  1. Wait, I don't get the ad hominem on Bob. There is a bubble situation with bitcoin. This is just like what happened with the housing bubble. People get an irrational euphoria in order to stoke the fires without fully understanding the risk.

    Bob is very rationally stating the risk.

    1. Agreed but there is a reason Bob is talking about Jeff Tucker when talking about BTC and not somebody else.

  2. I think you are largely correct, Wenzel. However, bubbles are the opportunity to reap a great reward, and it must be noted that Richard Cantillion --who recognized the bubble qualities of the Mississippi endeavor-- managed to greatly profit before exiting. Your caution is duly appreciated, Bob.

  3. Tulip mania. Good when you can sell at a higher price to a greater fool. Just be careful you aren't the greatest fool.

  4. Obviously! An insolvent, government bailed out, fiat money dependent bank whose analysts are focused on convincing their clients to purchase more goods and services from them like Societe Generale is definitely the place one should look for objective clear opinion on bitcoin!?!