Bitcoin Forum

We are gonna be richhhh!!!   :-* :-* :-*

It's pretty much already all time high in GBP terms (well, almost, there was a single, one day spike in Dec 2013 when it was few pounds higher, but I wouldn't count that). That's largely due to the weak GBP though.

Even if you had 500 coins, you wouldn't be all that "rich" at $1000/btc


3000-5000+ btc then yeah, I guess you are "rich"

half a million on my country and you can live like a king for the rest of your life. Average wage here is less then 1$ a day.

What country is that? Maybe I should just retire and live there...

How much do you pay for the Internet and what device do you access it on?

hold your horses there mate.
$1000 is not here yet and despite the fact that price has gone up quite good in the past couple of days there is no reason for me to believe it will go past the $1000 mark just yet.

I can't wait to see this happening just a day left to Xmas. $1000 is my dream price for each to get some profit but not so big very very little around $120 each.

I believe there would be no need of any strong reasons for new people to adopt bitcoins and to invest some money other than they are seeing some flying prices. Secondly, the old adopters too will be getting excited to see these price surges and may want to secure themselves so they are also keep on investing up to the levels they could.

Only for the initial push, we need some reasons and supporting factors. Once the initial push got triggered, the investors and traders will do all the remaining magic works.

Relax, at 925  1k is just a short burst away
If you said 2000 I would say it's a bit premature just yet but 1k could be reached easily with an hour  or two of buying...

This remain to be seen but bitcoin might be headed for weekly jump due to boosted demand for alternative currency. The surging cryptocurrency gained 15% in just a week raising to $900 per bitcoin according to a report by bloomberg.

Relax ,dont be excited. Were only just heading to $1000. We all know that all that goes up must come down.so ne ready for what will happen this weekend.

It depends on your definition of rich. If you ask me about getting rich, considering the situation in different countries, you'll need to make at least $500K to be rich.

But I see some people saying that they are gonna be rich while they only have like 0.5BTC. How much coins do you have OP? Would be interesting to know.

Definitely not rich, but we would make a nice return. Remember, bitcoin crashed at $1200, and it's only a matter of time before yet another centralised, dodgy site comes around and causes trouble. Then we'll be cast into a bearish pit. For long-term success, we need to be able to rid ourselves of such horrible services.

Remember, what goes up must come down. Don't be greedy guys.  ;D

that is right. The $1000 could happen only in many months, not now.

Good point. I do not see it happening now either. Probably some time early next year.

Very true, but people dont understand it. They go mad in the dreams of getting rich. They keep on holding and holding and holding, thinking about becoming a billioner, but end up with no profit. At this time, it would be wise to sell atleast a part of your total btc and keep the rest for your dreams. Its obviously the right time to sell!

Most people are selling their coins now but at a high market price and hence they are not able to find buyers. Exchanges are offering a lower price than preev.com and hence sellers need to check what price is appropropriate and how much profit they would get by selling it. Due to the hiked price, buyers are not willing to invest in btc and are waiting for it to fall.

Last time when it reached $900, after few weeks the price went up to $1300 and fell directly to $800. These instabilities indicate that we should just sell instead of buying or holding.

You international market have been still waiting to see the price going past $1000 , right now the high was i think approx $940 it came,

but On November 2nd week in indian exchange we have seen the price of Bitcoin touching %1000+ but that time international market price was only $720 due to Demonetization of currency Bitcoin price touched so high and i have sold it and right back i got purchased and took the profit. and now back i am going to enjoy it high price.

Ya it is true that last month itself we Indians have witnessed the bitcoin price touching $1000 and it was due to 500 and 1000 currency getting banned due to curbing illegal activities off fake notes. But right now what price is going is the real one that price was just fake due to currency problem in India

the price that were being reported from India and 1000 USD was from localbitcoins and that is the reason why it even went that high because they don't have many proper exchanges. as far as i know there is only one and most people are not even trading there, they use localbitcoins and on LB prices are always much higher than market price. so since the demand went up suddenly in India sellers there took advantage and put up a much higher price. and it didn't last much either!

prices will continue to rise. I believe that the current situation caused by the increasing number of bitcoin users in the world. deployment of bitcoin more evenly and also better than before. we will see the price of 1000USD some time soon.

The price decrease before i sleep bitcoin hit $900 dollars and now it decrease $883.6 as the preev.com rate we have 3 hours left before christmas for those bitcoin holders please do keep pumping bitcoin let bitcoin hit the speculation price of 1,000$ for next year it will be another coin counting price again.

sell a few if you like ,get a nice car or blow a bit of cash
certaintly dont sell the majority as btc is still in its infancy
and a lot of growth is coming .......

there is always a dip after every sharp rise ,until there isnt ........ :D
be careful if you dump your coins prematurely and the price keeps rising
so you are unable to buy them back .........

prepare yourself for the price of $ 1,000. we may be rich if it has more than 20 BTC. but, I was not going to be easy to reach that price. although BTC prices rise so fast, but I guess it will only stabilize at a price of $ 899 - $ 900. but I hope that bitcoin prices reached $ 1,000 before the end of the year, and stabilized at the beginning of the year.

Hahahahahahahahahahahaha! Wow look at those bears getting thrown right out of the inner circle. Sorry bears, it's bull time.

This is two things. Manipulators playing the market and newbies falling for the same scam all over again. Bitcoins fundamentals are still flawed. It doesn't scale and is not anonymous by any means.
Your choice if you want to be stupid and get scammed out of your money by buying into this scam.

I never expected bitcoin to increase in December as it is a holiday season. But it is quite encouraging to see bitcoin rising in value. Seems like a Christmas and New Year gift to us from bitcoin. Buckle up for another hell of a ride!

Well, Christmas and new year make bitcoin prices higher. although the price is not up to the $ 1,000, but I think soon bitcoin prices will rise. but, I believe, the price of $ 1,000 will be completely stable in 2017 do not need to panic with bitcoin rise today and remain relaxed.

Kyrgyzstan and I doubt you'll want to. It sucks here.

Im lucky, I work for a foreign government so Im not in the same boat as most. But my internet does suck, but on the other hand it is free.

 

aha ,cool
i was wondering how internet acess and a a computer / smartphone can be so cheap ....

No matter which country you live in owning a  little bit of mBTC/BTC  will put you ahead of the pack because youre aware of bitcoin this early and  99.99% of the world either dont know or dont care about it yet and it will  grow in value exponentially over the next few years  ...

warren buffett savs dont worry how much you can save ,its more important how early you get started and nobody knows more about money than him lol .........

warren buffett says " its not importasnt

Me too man. One would think that december eveyone would be taking breaks from it but its the opposite, its pumping the most. I honnestly think $1000 is coming up in the next 2 days. What about you.

I pissed mah britches at dat GIF, I love da impregnible hulk! 

So we definitely on tha elevator an' somebody pressed tha UP buttons.  We only gots about $70 dollas more ta go, that ain't much.   We probably gon' be there fore the rooster crows.  Den tha sun gon' shine on all o' us!!

Keep calm my friend. We're still not there and we might never because 1000$ is some sort of milestone, and I guess that the resistance will be very high at that point. I can't imagine how much people have set their sell point to 1000$ because it is a symbol.

I'm definitelt with you on this, but don't forget what BTCC boss has said about the price to break through the current all time high in 2017. Usually I ignore such predictions, but this coming from a person that influential is giving it a ton of extra weight. Also take in mind that BTCC is now leading in terms of trading volume. We have some interesting times ahead of us...

You can't fight human nature.

You wanna to say that bitcoin is just another mirage?  Lol,
Even though I believe the whole bitcoin supply are really able to be manipulated,
I cannot think when exactly that day will come ,
As long as you have cash enough why you don't give a try on bitcoin long term investment,  isn't it?

Marketcap is too big now to crash teh market, you can try to swing the price here and there but the overall situation is we have a 15 billion dollar marketcap right now, for an entity to move the price and crash it would need tons of money to blast. I can see rich attackers trying to crush the price and even successfully getting some dips here and there, but it's impossible to crush the price, and the higher we go the harder it will be.

Actually, if you already have the bitcoin the higher we go the easier it would be to dump the price.  It becomes harder in fiat terms, but easier for a fixed amount of bitcoin.

Hold on tight  it seems we will reach 1k within 24 hours if not sooner

Huh? Not much has changed since the 3 to 400s in terms of adoption. Probably the same number of people control the same amount of coins. There ain't any new exchanges and volumes are down compared to the past. It would be super easy to crash it and it can happen any time.

It'll take a fundamental change in the amount of people participating and who they are to make it less vulnerable to a small number of people having an outsized effect.

Unless the volume is new folk. Like China, Venezuela, India, most original before the surge
could just be sitting on sidelines holding. That imho would be same effect and would be
a lot more desirable.

Makes more sense then a bunch of low volume previous to this that held saying ,hey let's pump the price and hold more

ie the 'pie' is a getting bigger and bigger imho leading to FOMO and new adopters, or so I hope

Adoption will boom as we break the 1k marker but let's not forget 1136,the price of 1 Oz of gold

After that gets in the news, it's time for moonboots and gentlemen memes!

https://i.imgur.com/TeW0JPB.jpg

every time price goes up media goes crazy and those who were sitting on the side lines or didn't even know about bitcoin find out about the rise then they start investing. and each time price goes higher and new people look at the charts and see the consistent rise over 2 years from $200 to $900 they start investing and media goes more crazy and then new services start accepting bitcoin and more adoption happened after that too.

yeah, not all of this rise is because of adoption. and mostly is because of speculation and halving and other good news all around but as i said rise on its own makes adoption happen.

BTCC boss ? You mean theymos ? I prefer BTCT for Bitcointalk. I doubt about that statement, because I'm still convinced that where we stand now is a spike and that it will come down back. I hope I'm wrong and that this rise will be sustained, but I frankly doubt about it.

BTCC = BTCChina exchange, and the big man there is Bobby Lee. Of course, at some point we will definitely see a decent correction, but at this point the sentiment and momentum are in ultra good condition. If we happen to go through a correction at the early part of 2017, we'll definitely be able to continue the current bull run a few months after that. That's of course assuming nothing bad happens as was the case with Bitfinex months ago.

Oh ok, my bad. So a lot less important person for sure. You know, the price does not only fall when something wrong happens. The market is totally unpredictable, so even if all the lights are green, we might have a big hard dump. That's even a nearly-exact consequence when there is such an increase in price in a such little timespan.

15 billion market cap is still much smaller than the google or microsoft. The price of bitcoin will still be volatile.

While the price will continue to rise on such rate, many will invest, fearing to not miss another train.
The media is always attracted by the too big changes, so it will help advertising.
I feel like in the pre-dox months when Bitcoin used to rise and rise, like it would be unstoppable. Those were my first months in crypto world, media made me too come back then.

Talking about the marketcap is totally useless when we talk here about a technology. That's more the combinated value of all the bitcoins rather than a marketcap. There's even people talking about the "marketcap" of gold... Thinking in marketcap has no purpose I think, and comparing it to big technological companies that has an inflated marketcap is also not a very good idea because it has no utility.

The media is also driven by FUD.....the more FUD the spread about 'evil BTC' the more money they make. (Those who did not get in early or buy that it is a scam/ponzi...love the
scent of failure)

Thus I expect some FUD popping up here soon. Some of it will be just noise....but it will probably cool the hype a bit on newbies getting in.

Stuff like

1) China Banning BTC ..they likely will make a big noise and try to...but as most of the exchanges are out of the country that probably won't work well. Unless
they ban BTC mining in China..that is not gonna happen..but it would be the kind of press FUD frenzy that would carry on for 4-6 weeks till it petered out.

2) Trump administration doing the same as the above. They are already saying they want to get rid of 'net neutrality' so the big boys can get more bandwidth than
the rest of us..possible..same result as China actions...but lots of noise and FUD to sell papers and get eyeballs to your site.

3) The usual some other coin is gonna surpass BTC in that the block size debate etc..no one in charge argument that crops up every 6 months in a FUD stream

So it all depends...is the use as a store of value and moving income around w/o government and banks in the way and such enough to blow past this stuff
or will (for a while ) btc do the usual 'sideways shuffle' in price...when the FUD hits the fan...it is coming....may not have any effect at all...but a lot of people
hate BTC and its very concept...and most of them have the $$$ to try to get their way...imho it is like trying to nail down jello..but heck if you need a hobby.

Anyway figure not much will come from all this FUD and hand wringing etc....but again it could moot price in a sideways manner again for bit in stops and starts

so hold is what I'm gonna do ...(this too shall pass if it comes as I expect it too...FUD how to cope when you missed out on whatever)

my 2 satoshi's worth

Current rise of price is looking very solid this time much close to pass the $1.000 at any moment. Waiting to see when this happen with this trend price is moving up and up.

I wouldn't call Bobby Lee a lot less important as he is a very influential person in the Bitcoin world. Especially when you consider that BTCC is at this point, according to their daily volumes, the largest Bitcoin exchange in the world. On top of that is their pool BTCC Pool good for 10% of the total network power. He can very well estimate what might happen since he has access to all information whales here would be more than happy to know.

I didn't denied him being important or not, that's just that I find him less important than theymos, and I challenge you to prove me wrong ! Except if he's traficking the price in his exchange (which wouldn't surprise me with all this faked volume), I don't see how he could predict anything, because the price trends are not based on anything perpetual and exact.

Holding 92 btc and mining still ltc to btc after elec for an ROI of 2.1 btc profit a month. BTC will have to dump below
201.21 usd before I start to head into a loss. So holding has been 'berry berry good to me'

You'll surely going to be rich if you had so many amount of bitcoin and you bought it at $500 price value and you are going sell it at $1000 . but i know that some people won't be satisfied for that, maybe they'd say that if you had a lot of btc 800+ for example and the price goes higher than $1000 then you're already rich .

What i see in the chart is the same as you, it seems Bitcoin is still stand in a spike and will eventually decline.  There around $150 increase from last week and if the price push thru $1000, that would be a steep incline which is always followed by a correction or a dip in price.  Anyway if the rally continues, we might be able to see $1000 before the end of this year.

I bought some in the middle of last year. But I will hold for the next few years. I might be very rich then.

When did you start mining LTC and what is your current hashrate + config?

It's pretty amazing that the price is this high. It seems like it must be a short term pump, but you never know.

 i have to move my altcoins to btc. except that ICN  ;D

If you are not almost rich by now, you wont be rich. This getting rich quick scheme by making leverages hoping for price increase rather than its fluctuations is mostly not working. Im not saying its not working for everybody. Just saying my cents.

I really need to ask how much you think will make one rich because for me I would need lie 10 btc to reach that milestone in which I am not even anywhere close to even if its $2000 and same thing applies to someone who has been able to gather or even own 0.1btc... But for others with sizeable amount of BTC then its really a dream come true...

even with 10 coins there's no way you can be rich with that. That's barely 10.000$, I don't understand your math

Indeed, we need $3000-5000 and 500 coins to become a rich man.
Moreover if someone just have less than 100 coins, obviously not rich to sell at $1000.
So, working to earn bitcoin as much as you can and saving it for your future.
I like to suggest do not sell any coin that you have unless there is no any option when you desperate for money.

2014 nov 8th

Orig KNC Titan at $10,131.80 with shipping.

2nd KNC Titan used during march 2014 panic when 6 or 7 other scrypt miners
Supposed to come out at 2.6btc or 569 usd I think it was works yet full out.
Also KNC stopped production at this time. Thus till A4 only big miner game in town.
Panic only lasted 2 weeks to a month everyone thought no ROI with equip glut by July 2015
thus the panic. Dumb luck.

Found this last July 2016 a new unused corp default sale of 2 titan miners (orig) on ebay of buy it now 3.5k
split with a buddy my share was 1825 usd

Also tripped over with same buddy via an email to an old tech at knc proper that went thru to the bankruptcy lawyer
and fell into their first auction and prob over bid and won first round lot. He got 18. I got 6 knc 5 cube titans at 1900 each with shipping
we won that round of bids ...lost in a group buy to all others. imho knc insiders bid us into the dirt.

Anyway they sucked built by temps (no real knc employees for 2 years) and shipping damage so should have
got 400mh each ..really got like 342mh each . ROI'd on them recently. Paid off the 11.4K home loan to get
them on a bet BTC would go up. Got that right.

So I mine at 3150 mh (was 3200 plus but cube died and lightfoot can't fix it yet) at 10c kwh I currently get
with last ltc difficulty ..just looked 2034 profit a month.

But as you can see above it was all due to dumb luck. But hey ride the pony while I can

later

Getting rich isn't possible for the majority of the people here. People that keep creating threads and posts that we all will be rich when the price is reaching $1000, don't have much coins themselves. How on earth will it then be possible to get rich? Back when the price was around $500-$600 people were already struggling to collect even 1 BTC, imagine how that will be when the price is $5000 per coin. From my point of view, getting rich is when you make at least $1 million.

You know people work hard and earn money. buying 100 btc at 500 each is not that hard.

well for sure if the price gets more higher you'll gonna be rich bro . why not buy more bitcoin and hold it along with the amount you've already bought several months ago ? it could be risky but at least you have bitcoin kept to your wallet .

For those who were predicting a value above USD 850, a few months ago, they were not wrong. At the time, it was possible to realize that Bitcoin was about to rise to much higher values, since the effect of halving was taking effect, and continues to take effect so far. In addition, there is growing demand in the market, because there are people who saw in Bitcoin a useful way to transfer and store value.

I thought it has reach this point already. And I just missed it.:-X

The amount of the price increase in the last week has been unseen like anything before. Even when it reached it's all time high of $1200 such a very long time ago it seems. :-[

Well, I particularly thought the price of bitcoin would not exceed $750, but here it's $973 and it's still going up, there are a lot of people who believe that by December 31, bitcoin's price will reach $1000.

Yesterday I read a news that said that the travel agency Destinia, took the decision to accept payments only in Bitcoin. They made that decision because the Venezuelan economy has steadily declined. Because the Venezuelan bolivar has a strict control.

News such as these may have some impact on bitcoin's price.

Nothing lasts that long. Currently the price is being driven by panic buyers that are basically too late, but they still think they can walk out with massive profits. I think for now, the peak will be $1000 or slightly above that, but after that we'll be subject to a correction that will push the price back towards the $800 levels. And to be honest, $800 seems to be a very fair price according to me.

To late? ??? Dont be foolish.

Its just the beginning. Buying now is like buying back at $250 years ago.

A smart investment.

If history is any indication, we are probably seeing a breakout to $5000+...comeback to $1500, rinse and repeat....

No, no, no. It is real growth not some coordinated pump like that bot driven race from 2013. I bet that this time price will say over $900 for longer time, maybe even it will be new stable "low" price?
There is no negative news, no bad signs, technical indicators of market are strong, pump is not over. If you have a friend who doesn't own BTC, tell him now - soon we might see $1200.

it is mostly real growth but not all of it.
the real growth would have been the rise to $800+ not the $900 range. this rise is a composite of real rise because of many good news that came out recently and also it is some small pump.

Ladies and Gentlemen !
We have a winner ! Finally someone understands ........ ;)

According to the latest blog past by Mike Casey you would be right.

https://medium.com/@mcasey0827/speculative-bitcoin-adoption-price-theory-2eed48ecf7da#.6vt0haan7 (https://medium.com/@mcasey0827/speculative-bitcoin-adoption-price-theory-2eed48ecf7da#.6vt0haan7)

The market is already retreating. A 5x increase in price would take Bitcoin's market capitalization to $75+Bn.
Not impossible, but very tough.

Early people who got into bitcoin when it was dirt cheap are the real rich people. If you had entered into bitcoin just recently then you will only make some money. But anyways, keep holding and perhaps one day you might just be rich. All the best!

I am glad I bought some in the past 12 months.

The price is over $1100.

No you're not how if you only had 0.02 bitcoin left on your wallet? hahaha i don't think that it can make you reach but im sure those investors who already had tones of bitcoin from their wallet are going to be rich.

I think the 0.02 bitcoin will be worth a lot in the next decades.