Blackstone Group's Byron Wien Predicts Bitcoin's Demise in 2014
The vice chairman of investment and advisory company Blackstone Group, Byron Wien, has predicted that bitcoin will collapse in 2014. The prediction came from Wien's "surprise" prediction list - the list Wien says "do not make the [top ten] either because I do not think they are as relevant as those on the basic list or I am not comfortable with the idea that they are 'probable.'". As it is written: In 2½ years the price of a Bitcoin has increased from $25 to $975. The supply of Bitcoins is fixed at 21 million with 11.5 million in circulation. Bitcoins lack gold's position as a store of....
Related News
For the last 29 years, Mr. Byron Wien, currently vice chair of Blackstone Group Investment and Advising firm, has released a list of 10 surprise predictions for the coming year. He often includes predictions that he doesn't feel belong in the top 10, but that he still feels the need to flex his ego over and publish them anyways. This year, Bitcoin has finally made the list. Byron Wien describes a “surprise” as an event which would have an occurrence rate that the “average investor” would only assign a probability of 1/3. However, Mr. Wein, as a self-proclaimed “above-average investor,”....
Nearly one month ago, we learned that Central Europe was slated to get their own bitcoin expo (dubbed the Central European Bitcoin Expo) in Vienna, Austria. That report indicated the event would be taking place at ACV, Austria Center Vienna (very original, we know). There seems to be a change of plans. Bitcoin news website Bitcoinist is reporting that there has been a change of venue for the event. The new location is purported to be Technische Universität Wien (Vienna University of Technology, also known as TU Wien). "Many attendees suggested the conference should have a better location....
After partnering up with the Vienna University of Technology, Cebexpo is changing the place of the conference from ACV to TU Wien. Bitcoin conference will take place on 31. May – 1. June on the grounds of the 200 years old University of Technology right in the “heart of Vienna”. “Many attendees suggested the conference should have a better location in the city. We also tried to find a place that would be closer to a club where the Bitcoin Party takes place. At the same time TU Wien decided to support our event and we went to see the Universities grounds. Location is great with beautiful....
Bitcoin prices could reach $6 million per coin in forty years’ time, but the whales may eventually pull the plug. A former lead developer for the Bitcoin network has postulated a possible future for the world’s most popular cryptocurrency which includes an epic price prediction.Software developer Gavin Andresen published a recent blog post called “A Possible BTC Future” in which he predicts the demise of the Bitcoin network.Before BTC meets its end, it will reach a price of $6 million per coin in 2061, Andresen predicts. Before you get too excited, he added that $1 million dollars today....
Litecoin was once touted as the ultimate Bitcoin replacement, thanks to its faster transaction times and different type of mining technology required. However, the Bitcoin demise was not achieved, and while Litecoin still has some value to this very day, it will not succeed in taking the crown from the leading currency. Even though digital currency has only been around for a handful of years so far, talks about the Bitcoin demise have been gravely exaggerated by the mainstream media and supporters of altcoins. Granted, there are other projects in existence that are not Bitcoin right now,....