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The bitcoin virtual currency is becoming the center of attention. The skyrocketing surge in bitcoin value makes many parties interested. There are most people happy with the rise in investment returns, however, there is also fear the value of the investment is destroyed. One of them bitcoin.
Bitcoin is traded above US $ 16,000 or about Rp 217 million (US $ 1 = Rp 13,593) on yesterday's trade. In one "market" alone, Bitcoin is trading above US $ 18,000 or Rp 244 million. There are a number of people interested though the price is 11 percent above the market price.
Many people are discussing that there is no way to predict the value of bitcoin. There is no intrinsic value. Until now bitcoin is bought purely in the hope that others who buy it will pay higher at certain times. Ultimately, this is speculation about human psychology.
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Let's see how investors and the richest people in the world think about Bitcoin as quoted by Forbes, Friday (15/12/2017):
Billionaire (Carl Icahn,) is one of the legendary investors who has the longest and best track record in the world, he said he did not understand about bitcoin. "If you read the entire history of the Economic Bubble or the economic bubble, then you will understand the goods," said Icahn.
Billionaire (Warren Buffett,) best-value investor of all time says, "Stay away from it, this is just a mirage, the idea that bitcoin has enormous intrinsic value is a joke, it's a way of transmitting money."
In addition, billionaire (Jamie Dimon) also once said, "This is not the real thing, it is a fraud."
Billionaire (Ray Dalio) founder of one of the world's largest hedge funds added his point: "Bitcoin is a speculative bubble, people think they can sell it for a higher price, it's clear that this is a speculative bubble."
Investors as well as billionaires (Leon Cooperman) also say, "I do not have money in bitcoin. Bitcoin is just a euphoria."
And Billionaire (Marc Lasry) once said, "I should have bought bitcoin when it cost US $ 300. I do not understand it might make sense to try to participate in Bitcoin, but I can not give an analysis of whether this is coming in. or not, but I think Bitcoin is real, because it gradually becomes mainstream."
Billionaires as well as hedge-fund investors (Ken Griffin,) also argue that bitcoin has many elements. "This is not the future of the currency, but I also will not call it a fraud, Bitcoin has many elements to look like the Tulip Mania period," Ken said.
All of the above comments are from people on Wall Street, and they have not participated in bitcoin yet. But bitcoin is rated as a new invention in technology.
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So how do the investors in the field of technology think about this?
Billionaire Jerry Yang, founder of Yahoo said, "Bitcoin as a digital currency can not be used maximally.I personally believe that digital currency can play a role in our society, but for now, it seems that this phenomenon is driven by the hype in investment and exchange money, very contrary to the transaction."
Mark Cuban rate bitcoin is a "bubble." Mark currently invests in cryptocurrency or digital currency but calls it "Hail Mary."
Michael Novagratz, a former Wall Street man and hedge fund manager. He was once a billionaire and probably also at this moment, thanks to bitcoin. Saying "The entire market share of all crypts under $ 300 billion is nothing, it is global, I know Bitcoin can go further," he said.
He likens the bitcoin or gold value substitute - which reaches $ 8 trillion in the market in the not-distant future, Bitcoin will reach a higher phase. But he acknowledged that investment should not be made more than 1% to 3% of the total wealth.
- Furthermore, Thomas Peterffy, one of the richest men in the United States and founder of the largest electronics company, Interactive Brokers, once warned that someone does not make futures trading contracts with bitcoin. He said "a big step in economic value could disrupt the clearing organization (big futures) that could disrupt economic stability."
With all its pro-contra, Bitcoin's launch will take place on Sunday at CBOE, the world's largest exchange product option and the premier innovator in products, education and trade. It will be very interesting.
It is difficult to predict which catalyst can pierce the market bubble, in this case, Bitcoin. There will always be a tendency and interconnection of bubbles, in an economy that can not be predicted before the bubble is passed (as does the domino effect).
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