Pape Rone#bitcoin price predicted by a deep learning algorithm for the next 5 years: 54302.27 final price. Opinions?
Near Dormant@paperone Sure. They aren't noting any data outside of BitCoin itself.
Deep learning algorithm is going to deep study the past to predict the future. In the past, Bitcoin has always rallied. Seems insane to rely on a prediction pattern that hasn't also watched hyperinflation currencies completely fail (Zimbabwe being the most recent).
G Allen
@paperone I work in financial data, by the way.
...Venezuela may be next...
https://en.wikipedia.org/wiki/Crisis_in_Venezuela_(2012%E2%80%93present)#Inflation
@vollink citizens of many African countries switched to crypto for daily deals because of the fiat drama. I wonder if this will happen in Venezuela as well. Maybe one day the last ones will be the first ones?
@vollink btw, how would you sum up your experience in the financial field? What the most precious thing you've learned from it?
@paperone
1) Financial data is fascinating after the several years it takes to learn to actually understand it (12 so far).
2) The value of something is really nothing more than what you can convince someone else to pay for it. If something is backed or guaranteed by something real, it has a much better chance. If something is backed only by history, it can endure, but not against any failure. Even the US Dollar could fail in the wrong circumstances.
1) Financial data is fascinating after the several years it takes to learn to actually understand it (12 so far).
2) The value of something is really nothing more than what you can convince someone else to pay for it. If something is backed or guaranteed by something real, it has a much better chance. If something is backed only by history, it can endure, but not against any failure. Even the US Dollar could fail in the wrong circumstances.
@paperone ((bitcoin is not backed by anything. No government, no gold, no person. Its value is nothing but the whim of marketing and novelty.))
@vollink mmm and what about IMMUTABILITY? it's definitely a value per se for blockchain. Can't it be a value also for a currency knowing that transaction are transparent, fraud-proof and immutable?
@paperone Immutable? Like a rock? It is supposed to shadow the scarcity of a Pecos medal or gem. But those are at least physical objects. This is merely scarcity of GPU resource.
Consider:
If quantum computing happens, it will be as common as beach sand.
@vollink I specially love your 2). Travelling around the world I've noticed that the price of things varies a lot accordingly to what people are ready to pay for it.