Vinny Lingham is a CEO of identity startup Civic, and a former owner of mobile present label height Gyft.
In this opinion, Lingham explains because he believes a cost of bitcoin is headed higher, even if this won’t be a approach outcome of a network’s prerogative halving this year. The post is a follow-up to his widely circulated hostile prediction, released in 2014.
After reading my post Finding Equilibrium, published in Mar 2014, one could disagree that we was a bit bearish on bitcoin – desiring that it would trade laterally and down until certain fundamentals were in place.
At that point, many people inside a village approaching bitcoin to retest a prior high of $1,255 in 2013 and simply mangle $2,000. In fact, when we surveyed a assembly during CoinSummit in 2014, hardly anyone would take a contrarian view. we did, and this was entrance from a same chairman who rightly likely that bitcoin would strike $1,000 only a year before.
To promulgate my prior post, we argued a following:
- A miss of trust in exchanges would limit bitcoin purchasing
- Bitcoin is not a currency, though a commodity (it has given been announced as