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Title: This is a Golden transaction in the history of Bitcoin Post by: 100bitcoin on July 02, 2014, 02:57:31 PM By this Tx US govt gives legitimacy to Bitcoin trading. This is the next biggest step after the 10000 Bitcoin Pizza (https://bitcointalk.org/index.php?topic=137.0) in terms of going mainstream...
1. http://blockr.io/tx/info/9e95c3c3c96f57527cdc649550bf8e92892f7651f718d846033798aee333b0c3 2. https://helloblock.io/transactions/9e95c3c3c96f57527cdc649550bf8e92892f7651f718d846033798aee333b0c3 3. https://www.biteasy.com/blockchain/transactions/9e95c3c3c96f57527cdc649550bf8e92892f7651f718d846033798aee333b0c3 4. https://chain.so/tx/BTC/9e95c3c3c96f57527cdc649550bf8e92892f7651f718d846033798aee333b0c3 5. https://bkchain.org/btc/tx/9e95c3c3c96f57527cdc649550bf8e92892f7651f718d846033798aee333b0c3 6. http://blockchain.com/tx/9e95c3c3c96f57527cdc649550bf8e92892f7651f718d846033798aee333b0c3 7. http://blockexplorer.com/tx/9e95c3c3c96f57527cdc649550bf8e92892f7651f718d846033798aee333b0c3 Next time someone questions your bitcoin buying/selling, tell them that you do, just like the US govt did. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: lihuajkl on July 02, 2014, 03:11:31 PM positive effect to BTC. The price will be more higher and stable.More people are attract to BTC industry in US.
Title: Re: This is a Golden transaction in the history of Bitcoin Post by: newIndia on July 02, 2014, 03:13:14 PM Venture capitalist Tim Draper (http://en.wikipedia.org/wiki/Timothy_C._Draper) won the U.S. Marshals bitcoin auction earlier this week that captured about $18 million for 30,000 bitcoin, according to an e-mailed statement sent to Reuters.
Source 1: http://www.reuters.com/article/2014/07/02/us-usa-bitcoin-idUSKBN0F719920140702 Source 2: http://dealbook.nytimes.com/2014/07/02/venture-capitalist-tim-draper-wins-bitcoin-auction/ Source 3: http://www.chicagotribune.com/business/breaking/sns-rt-us-usa-bitcoin-20140701,0,4038036.story Source 4: http://www.coindesk.com/tim-draper-revealed-silk-road-bitcoin-auction-winner/ Title: Re: This is a Golden transaction in the history of Bitcoin Post by: allthingsluxury on July 02, 2014, 03:30:48 PM The future of BTC is bright.
Title: Re: This is a Golden transaction in the history of Bitcoin Post by: TrailingComet on July 02, 2014, 03:30:59 PM Yep, possibly a game changer in terms of mainstream credibility and legitimacy
700$ in sight.... Title: Re: This is a Golden transaction in the history of Bitcoin Post by: newIndia on July 02, 2014, 03:34:26 PM Yep, possibly a game changer in terms of mainstream credibility and legitimacy 700$ in sight.... 700 ? eh ...your target is so low buddy !!! Dont underestimate Tim Draper (http://en.wikipedia.org/wiki/Timothy_C._Draper). Drapers are in VC business in the third generation now ;) Title: Re: This is a Golden transaction in the history of Bitcoin Post by: cuddaloreappu on July 02, 2014, 03:41:48 PM One more reason for me to believe why america is a great nation, greatest nation..
Title: Re: This is a Golden transaction in the history of Bitcoin Post by: Beliathon on July 02, 2014, 04:25:11 PM One more reason for me to believe why america is a great nation, greatest nation.. "I am against any nationalism, even in the guise of mere patriotism. Privileges based on position and property have always seemed to me unjust and pernicious, as did any exaggerated personality cult."-Albert Einstein, My Credo (1932) "Nationalism is our form of incest, is our idolatry, is our insanity. "Patriotism" is its cult. It should hardly be necessary to say, that by "patriotism” I mean that attitude which puts the own nation above humanity, above the principles of truth and justice; not the loving interest in one’s own nation, which is the concern with the nation’s spiritual as much as with its material welfare — never with its power over other nations. Just as love for one individual which excludes the love for others is not love, love for one’s country which is not part of one’s love for humanity is not love, but idolatrous worship." -Erich Fromm, in The Sane Society (1955) Title: Re: This is a Golden transaction in the history of Bitcoin Post by: BitcoinBarrel on July 02, 2014, 05:06:41 PM Many people will be looking back wishing they bid higher in that auction.
Title: Re: This is a Golden transaction in the history of Bitcoin Post by: bryant.coleman on July 02, 2014, 05:42:58 PM Many people will be looking back wishing they bid higher in that auction. There were a total of 45 bidders, mostly individuals who participated in the auction. Of them 44 lost their bids and a single individual / organization won all the 10 blocks. What does that mean? IMO, the winning bidder quoted a rate, which was significantly higher than the market exchange rate at that time. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: davidgdg on July 02, 2014, 05:43:13 PM Amongst all the cheering we shouldn't forget that those coins were originally stolen by the USG from the owner(s) of Silk Road and from a whole load of vendors who were doing no harm to anybody.
Just saying .... Title: Re: This is a Golden transaction in the history of Bitcoin Post by: BitchicksHusband on July 02, 2014, 05:44:17 PM Amongst all the cheering we shouldn't forget that those coins were originally stolen by the USG from the owner(s) of Silk Road and from a whole load of vendors who were doing no harm to anybody. Just saying .... He put out two murder for hire hits on his employees. That's "doing harm" to me. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: icet208 on July 02, 2014, 06:18:03 PM fortunately the auction was won by someone from the BTC community, and not a outsider. Apparently his plans are to provide bitcoin liquidity in emerging markets
Title: Re: This is a Golden transaction in the history of Bitcoin Post by: davidgdg on July 02, 2014, 06:48:53 PM Amongst all the cheering we shouldn't forget that those coins were originally stolen by the USG from the owner(s) of Silk Road and from a whole load of vendors who were doing no harm to anybody. Just saying .... No. If you aren't the sole controller of your private keys, you don't have any bitcoins. Those unfortunate people had promissory notes issued from a site known for facilitating trade which is considered illegal in some countries. Apparently they thought it was a good idea to place trust is such a site. In today's world, one must be more careful. Disclaimer: I see no reason why individual adults engaging in voluntary exchange should be illegal. Yes and No. You are right that vendors didn't own the coins in question (for the reasons you give). My language was loose. But somebody (i.e. the owner of the site) did. And the FBI clearly stole the private key and associated coins from him/her/them. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: newIndia on July 02, 2014, 10:27:00 PM Many people will be looking back wishing they bid higher in that auction. There were a total of 45 bidders, mostly individuals who participated in the auction. Of them 44 lost their bids and a single individual / organization won all the 10 blocks. What does that mean? IMO, the winning bidder quoted a rate, which was significantly higher than the market exchange rate at that time. Winning bidder Tim Draper quoted 600 USD per coin, which was higher than the exchange rate at the time of quote. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: LiteCoinGuy on July 02, 2014, 11:02:36 PM Many people will be looking back wishing they bid higher in that auction. two years later: "700 USD were very cheap two years ago, now we have to pay 40.000 USD" ;) Title: Re: This is a Golden transaction in the history of Bitcoin Post by: newIndia on July 02, 2014, 11:28:00 PM Many people will be looking back wishing they bid higher in that auction. two years later: "700 USD were very cheap two years ago, now we have to pay 40.000 USD" ;) Now, we can safely say, by the end of this year we'll reach 1000 USD again for sure :) Title: Re: This is a Golden transaction in the history of Bitcoin Post by: davidgdg on July 03, 2014, 08:53:20 AM But somebody (i.e. the owner of the site) did. And the FBI clearly stole the private key and associated coins from him/her/them. He thought it was a good idea to (publicly) oppose those who have a monopoly on violence. Whether one disagrees with him on that or not, he should have been better prepared for what he was doing. There are ways he could have easily protected his coins. He failed to protect himself and those who trusted him. You can't blame the FBI for being the FBI any more than you can blame a bear for shitting in the woods. By parity of reasoning, you cannot blame Mao, Stalin or Hitler for genocide. It was just in their nature. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: Swordsoffreedom on July 03, 2014, 09:04:04 AM The future of BTC is bright. Most definitely a moment to relish in before we get back on this wild roller coaster ride of mainstream adoption Full of legal regulatory hazards and innovative new ideas. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: Beliathon on July 03, 2014, 09:35:20 AM I wonder how long it will be before your use of the word "golden" become antiquated and irrelevant?
My guess: we are the last generation of humans to use that word in this way. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: newIndia on July 03, 2014, 11:32:32 AM I wonder how long it will be before your use of the word "golden" become antiquated and irrelevant? My guess: we are the last generation of humans to use that word in this way. Possibilities are low. This has become symbolic. Even Bitcoin looks golden, whereas Litecoin looks like silver. We have silver jubilee, golden jubilee etc. So Golden is gonna stay !!! Title: Re: This is a Golden transaction in the history of Bitcoin Post by: Fiftysven on July 03, 2014, 11:37:23 AM Am i the only one that is relieved the US Gov doesnt have the coins anymore? And i will be glad when the rest of the 144k is out of their hands ;)
Title: Re: This is a Golden transaction in the history of Bitcoin Post by: ajareselde on July 03, 2014, 02:19:14 PM Am i the only one that is relieved the US Gov doesnt have the coins anymore? And i will be glad when the rest of the 144k is out of their hands ;) this is something like a double edge blade , on one side you have no more fear of them dumping all at once , hence creating panic, but on the other hand, the fact they decided its time to sell those bitcoins in the first place shows that their real opinion is that its price will fall in future. this will definetly be remembered, but i hop in the future we will have even greather meaning transactions. (1st transaction to wall.st anyone ?! ) Title: Re: This is a Golden transaction in the history of Bitcoin Post by: Justin00 on July 03, 2014, 02:23:45 PM They can still make it illegal to trade in a month, right ?
Probably, wont.. but just saying they could. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: newIndia on July 03, 2014, 03:14:02 PM They can still make it illegal to trade in a month, right ? Probably, wont.. but just saying they could. How come ? After selling something to a person u'll call it illegal ? Govt will be sued and they'll lose that case for sure... Title: Re: This is a Golden transaction in the history of Bitcoin Post by: KawalGrover on July 03, 2014, 03:41:58 PM One more reason for me to believe why america is a great nation, greatest nation.. "I am against any nationalism, even in the guise of mere patriotism. Privileges based on position and property have always seemed to me unjust and pernicious, as did any exaggerated personality cult."-Albert Einstein, My Credo (1932) "Nationalism is our form of incest, is our idolatry, is our insanity. "Patriotism" is its cult. It should hardly be necessary to say, that by "patriotism” I mean that attitude which puts the own nation above humanity, above the principles of truth and justice; not the loving interest in one’s own nation, which is the concern with the nation’s spiritual as much as with its material welfare — never with its power over other nations. Just as love for one individual which excludes the love for others is not love, love for one’s country which is not part of one’s love for humanity is not love, but idolatrous worship." -Erich Fromm, in The Sane Society (1955) Beliathon: You are one of the most well informed person I have come across on these boards and I sincerely enjoy reading your sources and all the information you provide. Thanks again! Title: Re: This is a Golden transaction in the history of Bitcoin Post by: cypherdoc on July 03, 2014, 03:45:51 PM couldn't agree more OP
Title: Re: This is a Golden transaction in the history of Bitcoin Post by: jbreher on July 03, 2014, 03:58:12 PM but on the other hand, the fact they decided its time to sell those bitcoins in the first place shows that their real opinion is that its price will fall in future. Nonsense. What does the government do with otherwise legal assets sized in criminal investigations? It liquidates them for USD. Invariably. Houses, cars, jewelry, gold, ... cryptocurrency. It would be remarkable if they _didn't_ convert them to cash. edit: replace period with question mark Title: Re: This is a Golden transaction in the history of Bitcoin Post by: newIndia on July 03, 2014, 04:10:20 PM but on the other hand, the fact they decided its time to sell those bitcoins in the first place shows that their real opinion is that its price will fall in future. Nonsense. What does the government do with otherwise legal assets sized in criminal investigations? It liquidates them for USD. Invariably. Houses, cars, jewelry, gold, ... cryptocurrency. It would be remarkable if they _didn't_ convert them to cash. edit: replace period with question mark Why ? Question mark is missing in your keyboard or what ? Title: Re: This is a Golden transaction in the history of Bitcoin Post by: jbreher on July 03, 2014, 04:34:39 PM ... edit: replace period with question mark Why ? Question mark is missing in your keyboard or what ? Not that is important to this thread. When I initially posted, I wrote a '.', where the '?' should have been. After posting, I realized my mistake. I edited the post to fix it. As per my policy*, the edited post included a description of what edit was made. capiche? * a policy I wish more would adopt Title: Re: This is a Golden transaction in the history of Bitcoin Post by: Malin Keshar on July 03, 2014, 05:02:48 PM USA never moved into banning cryptos, as far I know. Would be different if was Russia or China making the auction.
Even if they are legal, they still can forbid using cryptos as currency, and put strong regulations about who can buy and sell bitcoins Title: Re: This is a Golden transaction in the history of Bitcoin Post by: SirChiko on July 03, 2014, 05:11:30 PM USA never moved into banning cryptos, as far I know. Would be different if was Russia or China making the auction. But they still haven't as they are selling them themselves in legal auction.Even if they are legal, they still can forbid using cryptos as currency, and put strong regulations about who can buy and sell bitcoins Title: Re: This is a Golden transaction in the history of Bitcoin Post by: newIndia on July 03, 2014, 06:44:43 PM USA never moved into banning cryptos, as far I know. Would be different if was Russia or China making the auction. Even if they are legal, they still can forbid using cryptos as currency, and put strong regulations about who can buy and sell bitcoins Neither China nor Russia has banned bitcoin. But in a country, which is not so liberal, there will always be caution from the govt to trade. They even make people cautious before trading in stock exchange. http://online.wsj.com/articles/russia-softens-stance-on-bitcoin-1404305139 http://www.coindesk.com/chinas-central-bank-governor-pboc-wont-ban-bitcoin/ Title: Re: This is a Golden transaction in the history of Bitcoin Post by: Peter R on July 03, 2014, 07:05:20 PM But somebody (i.e. the owner of the site) did. And the FBI clearly stole the private key and associated coins from him/her/them. He thought it was a good idea to (publicly) oppose those who have a monopoly on violence. Whether one disagrees with him on that or not, he should have been better prepared for what he was doing. There are ways he could have easily protected his coins. He failed to protect himself and those who trusted him. You can't blame the FBI for being the FBI any more than you can blame a bear for shitting in the woods. By parity of reasoning, you cannot blame Mao, Stalin or Hitler for genocide. It was just in their nature. Precisely. Only after you understand someone's nature are you able to properly prepare yourself for whatever it is they may do. http://en.wikipedia.org/wiki/The_Scorpion_and_the_Frog Title: Re: This is a Golden transaction in the history of Bitcoin Post by: spooderman on July 03, 2014, 07:24:04 PM But somebody (i.e. the owner of the site) did. And the FBI clearly stole the private key and associated coins from him/her/them. He thought it was a good idea to (publicly) oppose those who have a monopoly on violence. Whether one disagrees with him on that or not, he should have been better prepared for what he was doing. There are ways he could have easily protected his coins. He failed to protect himself and those who trusted him. You can't blame the FBI for being the FBI any more than you can blame a bear for shitting in the woods. Multi sig multi sig multi sig. It alarms me how few people know that using this makes your bitcoins so very very much more secure. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: tins on July 03, 2014, 07:27:45 PM They can still make it illegal to trade in a month, right ? Probably, wont.. but just saying they could. How come ? After selling something to a person u'll call it illegal ? Govt will be sued and they'll lose that case for sure... Yep, even though a few people were against this auction, it does add a level of stability to Bitcoin. We can now know with certainty that the U.S. will not push any bans on BTC anytime in the near (near=years, at a minimum) future. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: newIndia on July 03, 2014, 11:22:15 PM They can still make it illegal to trade in a month, right ? Probably, wont.. but just saying they could. How come ? After selling something to a person u'll call it illegal ? Govt will be sued and they'll lose that case for sure... Yep, even though a few people were against this auction, it does add a level of stability to Bitcoin. We can now know with certainty that the U.S. will not push any bans on BTC anytime in the near (near=years, at a minimum) future. The problem they can create now is with deep taxation. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: allthingsluxury on July 03, 2014, 11:34:36 PM Many people will be looking back wishing they bid higher in that auction. two years later: "700 USD were very cheap two years ago, now we have to pay 40.000 USD" ;) Definitely a possibility :D Title: Re: This is a Golden transaction in the history of Bitcoin Post by: ddink7 on July 04, 2014, 03:25:48 AM Assholes didn't even pay a transaction fee.
Title: Re: This is a Golden transaction in the history of Bitcoin Post by: newIndia on July 04, 2014, 10:24:23 AM Assholes didn't even pay a transaction fee. They have paid in matured coin. So Tx fee was not required. Moreover, the network cant keep such a big Tx outside the public ledger. That would create accountability problem for miners ;) https://en.bitcoin.it/wiki/Transaction_fees#Sending Title: Re: This is a Golden transaction in the history of Bitcoin Post by: Este Nuno on July 04, 2014, 04:03:11 PM Many people will be looking back wishing they bid higher in that auction. There still lots of bitcoin for sale on the exchanges if they still want to buy some. It's out there if the want it. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: newIndia on July 04, 2014, 08:43:03 PM Many people will be looking back wishing they bid higher in that auction. There still lots of bitcoin for sale on the exchanges if they still want to buy some. It's out there if the want it. I think he meant after a few years... Title: Re: This is a Golden transaction in the history of Bitcoin Post by: BitCoinDream on July 10, 2014, 09:10:36 PM Many people will be looking back wishing they bid higher in that auction. two years later: "700 USD were very cheap two years ago, now we have to pay 40.000 USD" ;) Definitely a possibility :D Jumping from 700 to 40k in just 2 years span is a little unrealistic. But, i firmly believe, there will be a day, when 1 Satoshi will equal 1 USD. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: CoinHoarder on July 10, 2014, 09:25:25 PM Fee: 0.00000000
Ah... the beauty of Bitcoin. How else can you send $18,150,888 across the nation for free? Title: Re: This is a Golden transaction in the history of Bitcoin Post by: hodlmybtc on July 10, 2014, 09:25:51 PM Many people will be looking back wishing they bid higher in that auction. two years later: "700 USD were very cheap two years ago, now we have to pay 40.000 USD" ;) Definitely a possibility :D Jumping from 700 to 40k in just 2 years span is a little unrealistic. But, i firmly believe, there will be a day, when 1 Satoshi will equal 1 USD. The increase in the 2 years up to the ATH last year was bigger than that, so it definately isn't unrealistic. However a lot of positive things will have to happen to see such an increase again in the same timespan. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: Ilsk on July 10, 2014, 09:49:07 PM Many people will be looking back wishing they bid higher in that auction. two years later: "700 USD were very cheap two years ago, now we have to pay 40.000 USD" ;) Definitely a possibility :D Jumping from 700 to 40k in just 2 years span is a little unrealistic. But, i firmly believe, there will be a day, when 1 Satoshi will equal 1 USD. What?? You think that jumping from 700 to 40k in 2 years it's unrealistic but you believe that one day 1 satoshi can worth 1 USD? Title: Re: This is a Golden transaction in the history of Bitcoin Post by: Gleb Gamow on July 10, 2014, 09:59:52 PM I wonder how long it will be before your use of the word "golden" become antiquated and irrelevant? My guess: we are the last generation of humans to use that word in this way. Possibilities are low. This has become symbolic. Even Bitcoin looks golden, whereas Litecoin looks like silver. We have silver jubilee, golden jubilee etc. So Golden is gonna stay !!! I nominate this post for [colour=platinum]Platinum[//colour] Post of the Year. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: wachtwoord on July 10, 2014, 10:12:02 PM Many people will be looking back wishing they bid higher in that auction. two years later: "700 USD were very cheap two years ago, now we have to pay 40.000 USD" ;) Definitely a possibility :D Jumping from 700 to 40k in just 2 years span is a little unrealistic. But, i firmly believe, there will be a day, when 1 Satoshi will equal 1 USD. What?? You think that jumping from 700 to 40k in 2 years it's unrealistic but you believe that one day 1 satoshi can worth 1 USD? Indeed, learn some lessons from history 40k is less than 8 fold in price a year. That is entirely within the range of possibilities (albeit not the most likely) Title: Re: This is a Golden transaction in the history of Bitcoin Post by: BitCoinDream on July 11, 2014, 10:56:48 AM Many people will be looking back wishing they bid higher in that auction. two years later: "700 USD were very cheap two years ago, now we have to pay 40.000 USD" ;) Definitely a possibility :D Jumping from 700 to 40k in just 2 years span is a little unrealistic. But, i firmly believe, there will be a day, when 1 Satoshi will equal 1 USD. What?? You think that jumping from 700 to 40k in 2 years it's unrealistic but you believe that one day 1 satoshi can worth 1 USD? Indeed, learn some lessons from history 40k is less than 8 fold in price a year. That is entirely within the range of possibilities (albeit not the most likely) By 8 fold, do u mean 8 times or double in every fold ? If it is 8 times, it wont reach 40k within 2 year and if it is double in every fold, it'll reach 40k within a year !!! Title: Re: This is a Golden transaction in the history of Bitcoin Post by: Kiloday on July 11, 2014, 11:25:03 AM By this Tx US govt gives legitimacy to Bitcoin trading. The fact that they sold the bitcoins in an auction suggests they don't intend to prohibit Bitcoin trading. Otherwise, they would have simply destroyed them just like the way they do with drugs and pornography. So yes, it does give Bitcoin legitimacy. Quote 6. http://blockchain.com/tx/9e95c3c3c96f57527cdc649550bf8e92892f7651f718d846033798aee333b0c3 Not sure what this is, but shouldn't the correct link be: http://blockchain.info/tx/9e95c3c3c96f57527cdc649550bf8e92892f7651f718d846033798aee333b0c3 but on the other hand, the fact they decided its time to sell those bitcoins in the first place shows that their real opinion is that its price will fall in future. Nonsense. What does the government do with otherwise legal assets sized in criminal investigations? It liquidates them for USD. Invariably. Houses, cars, jewelry, gold, ... cryptocurrency. It would be remarkable if they _didn't_ convert them to cash. edit: replace period with question mark Technically true, but remember it's the Government we're talking about here. They make the rules. If they thought that hodling Bitcoin would have benefited them in the long run, I'm sure they would have done so. Many people will be looking back wishing they bid higher in that auction. two years later: "700 USD were very cheap two years ago, now we have to pay 40.000 USD" ;) Definitely a possibility :D Jumping from 700 to 40k in just 2 years span is a little unrealistic. But, i firmly believe, there will be a day, when 1 Satoshi will equal 1 USD. Unless the US dollar hyperinflates, this would be infeasible. The best possible outcome would be Bitcoin replacing all fiat in every country. And even then, the price would only be about 1 satoshi = 1 cent at today's purchasing power. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: wachtwoord on July 11, 2014, 12:00:43 PM Many people will be looking back wishing they bid higher in that auction. two years later: "700 USD were very cheap two years ago, now we have to pay 40.000 USD" ;) Definitely a possibility :D Jumping from 700 to 40k in just 2 years span is a little unrealistic. But, i firmly believe, there will be a day, when 1 Satoshi will equal 1 USD. What?? You think that jumping from 700 to 40k in 2 years it's unrealistic but you believe that one day 1 satoshi can worth 1 USD? Indeed, learn some lessons from history 40k is less than 8 fold in price a year. That is entirely within the range of possibilities (albeit not the most likely) By 8 fold, do u mean 8 times or double in every fold ? If it is 8 times, it wont reach 40k within 2 year and if it is double in every fold, it'll reach 40k within a year !!! What? 627*8*8=40128 >40k is what I meant. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: wachtwoord on July 11, 2014, 12:06:15 PM Unless the US dollar hyperinflates, this would be infeasible. The best possible outcome would be Bitcoin replacing all fiat in every country. And even then, the price would only be about 1 satoshi = 1 cent at today's purchasing power. The USD is already hyperinflating for several years. It's just not visible because all fiat currencies are hyperinflating. The currency basis of the USD tripled in a very short period. Title: Re: This is a Golden transaction in the history of Bitcoin Post by: kuusj98 on July 11, 2014, 02:32:15 PM Many people will be looking back wishing they bid higher in that auction. two years later: "700 USD were very cheap two years ago, now we have to pay 40.000 USD" ;) Definitely a possibility :D Jumping from 700 to 40k in just 2 years span is a little unrealistic. But, i firmly believe, there will be a day, when 1 Satoshi will equal 1 USD. What?? You think that jumping from 700 to 40k in 2 years it's unrealistic but you believe that one day 1 satoshi can worth 1 USD? Indeed, learn some lessons from history 40k is less than 8 fold in price a year. That is entirely within the range of possibilities (albeit not the most likely) By 8 fold, do u mean 8 times or double in every fold ? If it is 8 times, it wont reach 40k within 2 year and if it is double in every fold, it'll reach 40k within a year !!! Title: Re: This is a Golden transaction in the history of Bitcoin Post by: wordman267645 on August 23, 2014, 07:14:36 PM I think in future btc will be in the mainstream.And it's price will be higher and stable. 8)
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