Draper : Bitcoin To $250K In 2023 And What It Could Mean For Hive
Tis the season.
We get all the forecasts. It is fun to engage in the mental exercise and, who knows, perhaps some of this stuff does happen.
Here come the calls for $250K Bitcoin in 2023. What would this mean for Hive?
In this video I discuss this along with contrasting the difference between the two.
▶️ 3Speak
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If Bitcoin reaches $250K hive will be around $10 per coin
I think it will
But 2023 no way! I wish 😂
Why not $500 000 USD? Hahaha.
Some people like to throw big numbers.
They said that the Bitcoin (BTC) will reach $100 000 USD in 2022. And everyone can see the reality. It fell below $20 000 USD. Actually it is still below $20 000 USD. Currently it is $16 731.06 USD.
There is a much higher chance that Bitcoin (BTC) will reach (fall to) $10 000 USD than it will reach (rise up to) $250 000 USD.
Should it mean anything? Why the Hive price cannot be independent from Bitcoin (BTC)? It offers a much better network than the Bitcoin (BTC). People only have to discover it.
Happy New Year.
Have a nice day. All the best. Greetings and much love from Hungary.
Tim Draper's prediction is definitely wild but, from my experience with crypto, it's not impossible. Still, it's very unlikely. Hive is different though. I like the fact that there is obvious value despite what the markets say. Honestly, I hope hive does not just do a quick 10x because that type of growth doesn't last. The gradual building of value is a reason I am still here. Eventually, people will notice what is being built here and it will be huge. It's going to take time but I don't mind.
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Hence the saying of Michael Saylor there's no second best is kind of dumb. I was planning to write a post on why "Hive is better than Bitcoin" and this post reminded me I should do that soon.
Remember when people said BTC would go through the roof due to Russia invading Ukraine and needing to avoid sanctioned financial systems? Seems instead they are more likely to persuade countries to pay in gold driving up gold value :/
you are very correct about bitcoin not really having a use case. I think that we have a better long term oppurtunity with hive because of the use cases. thanks for your video
Summary:
In this video, Task analyzes Tim Draper's prediction of Bitcoin reaching $250,000 by 2023. Task discusses the speculative nature of Bitcoin's price movements compared to the utility-driven potential of Hive, emphasizing the importance of building value over obsessing about price fluctuations. Task highlights Hive's practical use cases in contrast to Bitcoin's limited functionality. Additionally, Task reflects on the progress and potential of Hive's ecosystem, especially in light of recent updates and new applications. The video concludes with Task's optimism about Hive's long-term potential compared to Bitcoin.
Detailed Article:
Task starts the video by addressing Tim Draper's bold prediction of Bitcoin hitting $250,000 in 2023. Task expresses skepticism towards such forecasts, highlighting the speculative nature of Bitcoin's price movements and the role of hype and fear, uncertainty, and doubt (FUD) in the cryptocurrency market.
Task contrasts Bitcoin's reliance on speculation and promotion with Hive's potential for price appreciation based on actual demand and utility. Hive's utility stems from its requirement for resource credits to operate on the chain, emphasizing the importance of blockchain supporting actual use cases beyond mere value transfer.
The discussion delves into the practical aspects of various blockchains, including Bitcoin, Bcash, Litecoin, Ethereum, Cardano, Tron, EOS, and Hive. Task emphasizes that while these blockchains facilitate value transfers, only Hive and others offer additional functionalities like microblogging, long-form blogging, commenting, and gaming, highlighting Hive's versatility.
Furthermore, Task contemplates the factors that could drive the price of Hive, mentioning not only speculation but also the potential impact of increased daily active users and successful applications on the platform. Task believes that Hive's scalability and the demand for resource credits from applications could significantly impact its price in the long run.
The video ends on a positive note, with Task envisioning Hive's greater potential compared to Bitcoin in the long term. Task encourages focusing on building value within the Hive ecosystem, rather than obsessing over short-term price movements or external market speculation. The narrative underscores the progress and evolution of Hive's ecosystem and the underlying value it provides, setting the stage for future growth and development.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.