Bitcoin Forum

I own BTC and part of me doesn't want it to reach $10,000 because

1) It will feel like I beat the game "Life"
2) No more going on the forums to speculate
3) No more threads speculating what the price will be

 :'(

and I will miss rpietila's calculations and posts  :'(

rpietila is confident in a $1 MM price per coin. He should still be calculating and posting at $10k :)

Thats a relief

But yea, part of the fun is getting there, this very moment, watching our numbers grow and business take off and being part of history.

Even in a video game, once you get max lvl, the best gear and maxed out in everything with all the phat loots and money in game, it gets boring.

Many people seem to be in such a rush too see btc reach high prices when they should be focusing instead on accumulating as many cheap coins as possible before that happens. That is why we have "bears" even though most of them are actually bulls.

Presumably because you will have too much money? Nonesense. The more you have, the more you want. You'll never reach a max cap or get bored. Old maybe, but not bored. You'll be speculating on something else is all. ;D

$10k will be the new $10 ;) The fun never ends

Absolutely, human greed has no bound.

Meh $10,000 /btc is nothing, talk to me when it hits $100,000

I am leaving ONE BTC to my children and Grand children. It'll be worth US$1 Million in their lifetime.
My Grand Son will take one of my left-behind ASICMiner USB erupter sticks and auction it off for another Million as an ancient historical relic.

+1

WTF is this bullshit?

1. Would you rather be raped by life instead? Life is fair to some people and unfair to others... you rather be in the group where life is unfair. LOL
2. Why not?
3. You can still speculate for $20k...$40k...$100k... etc

I do think that half the fun is in the anticipation.  It is kind of like "Christmas Eve" right now and we are just waiting for Santa to come. ;) 

There is some wisdom in just enjoying the journey.  I am sure with great success will come some new joys as well as struggles though.  This is why it is wise to listen to those that invested before us and see what they are doing and how they are reaping the rewards of their investments.

Why not become a bear and speculate for low hundreds or even tens. You could carry on for a very long time!  :D

theres alot more to life then bitcoin.

Smoking $1000 cigars and telling us that we should sell and place buy orders at $5000. ;)

I think it will be easier for some of us to speculate when our holdings are more valuable.  We will be perfectly fine keeping some in Fiat if the price never does "crash" again.  Right now I don't feel we have that luxury.

this is wise

you have to feel very comfortable with your position and be ready to accept the fact that it might not play out how you thought. if you feel you cannot afford to miss out on gains from bitcoin moving higher, you should not be a seller....

At those prices many publicly known whales will get robbed/kidnapped etc.

Never let people know your BTC net worth.

I guess too many ppl have 100 coins and wait for 10,000 so they call themselves millionaires.

If you guys reach 1M, think of this: that kind of money is JUST ENOUGH for a great life for you and your loved ones. I can go into details but I'm not sure anyone will listen.

if you find your self not wanting to leave home cuz your having paranoid delusions of poeple looking to kidnapped you for your bitcoins, you probably should be a seller!  :D

Yes it's enough to live a great life, but I still want to own a ferrari or a lambo. What now?

I think of it like this: once Im a bitcoin millionaire, I'll have enough money so that I can feel comfortable quitting my day job. Once I've done that then I'll have the time/freedom/energy to be able to do independent contracting, start my own company, do more/better day tarding, and make brilliant inventions, which will truly make rich. Bitcoin was only the tool to release myself from bondage but it is not everything.

I like your this tip its happen in many countries and no body can do any thing its a big business for many

If you want to scale up your life and own a Ferrari or a Lambo then you will need multiple millions unless you only want to own a Ferrari or Lambo and be broke.
I'm not an american but i will try out the calculation of scaling your life to a luxury like that. I'm using scaling since all costs surrounding a car like that are also very expensive.

Let's say you buy a normal car now you will buy one for the average of 30k and will last you 10 years if you drive it till it's end.
Let's say you have an average joe year salary of $50k

You will have earned $500000 in those 10 years and you have a 30k car.
Now you want a $250k Lambo for 5 years (these cars don't last as long as average cars).

You will need $5M to be able to afford a car like that. This translates in $4.5M in bitcoin and you still need to remain working.

I would not buy a car like that if I owned $10M I would hire one for a week or so.

not really, depending on circumstances (i.e. single, no commitments), you can own a second hand one comfortably if you're worth "as little as" $1-2m. all you really need to own a ferrari/lambo is $250k that you don't need for a while. Real cost of owning it is ~$25k year for depreciation, insurance, maintenance etc. there is also the opportunity cost of that $250k, but overall it's not as difficult to own as you make it seem.

It's unlikely I'd buy a $250k car with "only" $10M net worth. That's 2.5% of all you own just for the purchase alone.

it depends on your priorities and how badly you want the car. think in average joe terms, does his car cost 2.5% of his net worth? yeah, it probably costs a lot more than that.

I have already bought the plate OO03 BTC

Its going to go on the car that I will buy for 3BTC!

Likely not a lambo, probably a more restrained 911 or similar :)

And if that day never comes, well it was a fun idea at the time

anyway the point is that'll be a lot more than 2.5% of my networth, but then I am not planning on quitting my job.

That's why I have never owned a car :)

Following your debate I agree with you both.

If you want a Lambo for 4 years and want to live in a crappy apartment then you can do this with $0.5M. Some people are like that, I'm not.
On the other hand if you want to adapt your full lifestyle to a 250k car and a house that comes with the territory you need more to maintain that.
My calculation was based on scaling up your life if your an average Joe and still think my calculation has some truth.

If I get a few $1M for my BTC I would buy a nice house (not to big) in a nice area with some privacy. Put in a few luxuries like a pool and jacuzzi to relax and try to invest the rest and create an empire and live off of it's procedes :D.

sweet thread. I too am enjoying this journey so much, that there will be some sadness in moving on to the next phase - whatever that looks like. But I have no doubt my next goals and projects can be just as amazing. We are in an incredible time of exponential accelerating change in every domain of life and science. I suspect there will plenty of adventure and fun just around the corner.

I just can't believe it will ever get to $10k.  Then again, I never thought $1k was possible.  Boggles the mind.

indeed

1M is great, but you will spend it pretty quickly with fancy lifestyle, like the proposed Lambo...

1M is not enough in most 1. world countries.
With 1M an average joe can live approx 10 years (with family).
You can't quit your job with 35 with only 1M. You had to live like a spartan.

1M is the job wage of the average worker in 20 years. With a bachelor, masters degree or a phd you will earn 1M in less than 10 years.

10M is a good sum to live a decent life. Not a great one, but a good one.

but how much of that $1m earned with ten years of work is saved? also $100k a year for 10 years is not the same as $1m today. It would be better to have $1m today than $2m in 10 years.

but yeah definitely $1m isn't what it used to be

So

1. $1M lasts you 10 years
2. In 10 years you'll earn 1 M a year with bachelor, master or phd

So, the plan is

1. Get $1M
2. Retire for at least 10 years  :P

21 million possible coins and there are 7 billion people in the world.

Let's say in 10 years only 1 billion people use bitcoin

$10,000 seems too much still?

i think if we are ever going to get to $10k, it will be within 2 years max. if bitcoin is still around in 10 years, I'd expect each coin to be $100k-$1m

This is the advice I give everyone too. Never tell anyone how many BTC you have or drop off 2 zeroes. If you have 100 BTC, then you say you have 1 BTC.

I'm listening...

gotta plan for those bajillion dollar bitcoins!

Bet me 1 coin I could show you how to live with exact 1M?

Oh, that "*** BTC" car number plate idea is totally cool :D I must do it too

OP you have not beaten the game of life, even if you get your bitcoin millions you will still face many challenges. money solves nothing, only opens new opportunities for your conscious to expand and express itself. to me bitcoin wealth is more of a jumping board than beating the system. I will still have to find the true love of my life and continue evolving into a better being.

However, some dude previously said it already but I'd like to emphasize it: with bitcoin wealth I can work on my own software projects and do stuff that I am passionate about without having to put all of my creative energy into the system that has enslaved us all.

Agreed, although a couple of years living the good life and doing random fun stuff would probably also be part of the package for me :-).


Dude, you are making it sound like it is easy earning that amount of money.  It might be for some people, and in some sectors, but that's definitely more than "normal".  

Bet accepted. I chose the country and deliever the facts (costs of living, tax, ...).
1 Million is not enough, not for a family with a wife and 2 kids.

Alone it's possible, but that won't be fun.


There are countries with an average job wage of 50-60k USD. AVERAGE! That means including the toilet cleaning boy.
And yes, that's 20 years of working (average).

There are a lot of jobs that get the 1M earned (not to save) in less than 10 years.


BTW: Dont quote out of context! It's dependant on the country. I stated that in my posting. In a 3. world country you won't earn 1m even with a PHD.

You can go ghetto rich and buy a Ferrari from 1991.

http://vancouver.en.craigslist.ca/van/ctd/4269042289.html

Thats awesome. If I ever get a ferrari, it would be one of these old ladies :)

Money is not the answer... it's just a tool to get by.


And for all the enthusiast who are glued to the charts/forums:

op: when we get to $10k, you will celebrate for a couple of days, then you'll be back on here waiting for $100k. don't worry too much  ;D

If a person has 1 million dollars today, he should be able to invest that money well enough to ensure a steady stream of income, at least 50,000 dollars per year, to live comfortably, if not luxuriously, for the rest of his life.

yeah... you'll win at life if it reaches 10,000 each.

No questions asked.

If all it takes to win at life is make a little money with Bitcoin... I don't think we share the same concept of life.

what exchange are  you going to trust when it comes time to cash out your "fortune " in btc ?

at the moment i wouldnt trust any of them with more than pocket change ,if a bitcoin ever reachs 1 mil $.......
would you still send it to a foreign exchange ?

I am already there at $1K, and to OP, I did feel a little of that at first. What you realize is $$ isn't an end game. Sitting around with $$ will eat you away. So figure out what you want to do with it, what creative, productive pursuit or business, or venture. Then you will see your lifes work has only begun,

I drove by 3 guys today putting up a Bitcoin Brains sign on 97th street in Edmonton today. Right by the Hope Mission and many other shelters and charities, soup lines etc... I wanted to pull over and ask them what the hell they were doing but there were no parking spots :( I drive all over the city for work, I will definitely drop by there soon.

When I got home I googled it and found this.

http://www.calgaryherald.com/Bitcoin+business+opens+Calgary/9234195/story.html

Not a mention about the Edmonton shop, from the looks of it the one here is not open for business yet.

But what really struck me is that I'm glad the Edmonton one is in one of the most needy areas in town, (although it is pretty much Chinatown for us... maybe Chinese miners?) But I'd much rather see the store there than where that one is in Calgary (looks like a boutique type area, similar to Whyte Ave in Edmonton)

Can you imagine the press if you gave all those bums cellphones with wallets that people walking by could drop a few satoshis as they walk by?

Can you imagine the profits for this store when all those bums go to cash out?

Which leads me to...


The Reason I don't want bitcoin to reach $10,000.

I feel there is too much focus on the price, and how can we get rich - let's get in bed with the regulators and take this to the moon!.

Just listen to this Andreas guy, he's bringing up some points we should be paying more attention to.

http://www.youtube.com/watch?v=HYfY7n6sjS4    <-part 1

http://www.youtube.com/watch?v=5sSVVix1EgQ    <-part 2

I would love to see it crash like after the 30 dollar bubble, but I just can't see that happening at this point.

In USA 50-60K salary is above average... no toilet cleaning boy gets this kind of money what country are you from?? Saving up $1M in capital is no easy task at all, most people even in America won't ever achieve that. Where do you live, Denmark?

And $1 million is not enough for a family w/ 2 kids? What... where are you getting these ideas from??



You have a million dollars worth of bitcoin?

Well exchanges are the only reason I have a btc "fortune" to begin with. Without trading, I would have 100x less coins than I have now.

ok guys im not depressed anymore if bitcoin hits 10k

i found a job i will be able to do full time once bitcoin hits 10k

since the best option to cash out without paying taxes is to sell it in person without an electronic trail, then i guess the only way is to make it a full time job selling bitcoins locally on craigslist/localbitcoins for cash at small amounts lmao

imagine trying to turn your 10 million dollar bitcoins into physical cash without paying taxes. you would have to sell bitcoins in person via craigslist/localbitcoins probably for 2 years 24/7 ?? hahah
just a thought

don't laugh your ass off just yet

http://www.calgaryherald.com/Bitcoin+business+opens+Calgary/9234195/story.html

pretty sure that's exactly what these guys are doing. mine bitcoin and sell it on the streets.

I know it's already been said but just wanted to throw it out there one last time.

So, if you are the type that believes in Bitcoins and Holds instead of trying to play the market, you are better off selling it in person/craigslist/localbitcoins to avoid the taxes.

However, if you are the type that buys low, sells high, plays the market, buys back in etc., then yeah keep buying and selling on the exchange.

If you bought a Bitcoin for example at $10 and it is now $10,000 and you don't play the market. IF you wanna save money, sell that $10,000 bitcoin slowly in real life to people. Don't sell on the exchange.

Also, it's the thrill of the ride which makes Bitcoin very attractive; not only financial gains...

wow. first post you did that i can agree to. it always pays out to not give up  :D

becoming a bitcoin millionaire, even a multi millionaire is nothing to be ashamed of.  the 85 richest poeple own as much as the 3.5 billion poorest. compared to wealth like this, a few millions is less than nothing.

i grew up in very poor conditions. there were times in my life when (lack of) money was a severe and really depressing problem. if you never experienced being hungry but have no money to buy food, you weren´t there. if you never experienced not being able to pay the rent for the little flat you live with your wife and kid(s), you weren´t there.  

when november 2013 happened becoming "rich" was suddenly not completly out of reach forever anymore. there were moments when i questioned how/if i would have deserved this unexpected wealth. poverty is not just poverty. it is brainwashing also.

$1 million USD won't go very far in Sydney or Vancouver or Whistler or Shanghai or Singapore or ...

Then move ten miles out of town and live a better life.

1 million dollars is an exceptionally sweet cushion in the firstest of first world countries. You'd be leagues ahead of 95% of the population. Most people I know in the UK would be on the street within 1-4 weeks of their wage or benefits being cut off.

Elsewhere in the world that's the type of figure that could set up generations for comfortable lives. It's an amount of money that deserves a little more respect even when it's being inflated into oblivion.

Yeah right.. the net worth of the average person in those areas is nowhere near 1 million. Also, almost all major cities in the world have dirt cheap areas, even in the West. So, you would still be richer than the vast majority, especially since wealth inequality has been growing for decades.
With 1 million US you have a nice capital base to start a company or invest in innovative companies and grow it even more. I would advise lucky early adopters to cash out their original btc portfolio around 1 million USD and not be greedy and wait for the music to stop playing or let bitcoin's volatility detriment your well-being.  

I would agree with this. If managed properly, and not just seen as 10 years of $100,000 p.a. - then it could set you up for life and you'd end up with more than the million you started with.
What about starting a small (but ambitious) buisness. What about investing some of that into property, to give guarenteed lasting returns? There are many approaches you could take. But to think that people would just deposit $1M in the bank account, and then draw it down until it was all gone without using it to better themselves in some way is misplaced i think.

Trust me, once you're there, you will be working to keep it and acquire more. Also, money won't change you or your life as much as you think. It is certainly an "enabler" though.

You will most certainly continue browsing this forum. :D