Very interesting.

Would you be so kind to share a bit more of the reasoning/calculation behind this outcome? Furthermore, I assume that you see $2,000 as the projected end value (and not the current value,as the text suggests)?

I foresee a lot of hard drive failures in the future....

It will be addressed in the software at some point, no doubt about it. First, it needs to become a severe limitation. I learnt the hard way too with messing up a time critical payment due to hundreds of small receipts in my wallet from bitvisitor.com.

Got it to work, its mining now on a terrible slow speed (CPU only). All for the Devs 

Let time do its inevitable work. That's the beauty of great idea's.

We need 10% of Europe's cash in Bitcoin 

I sent some 'dust' today resulting in 100 pieces for a 0.36 BTC transfer. Took hours to complete 6 confirmations. If small payments are a problem, there is a future problem that needs to be sorted out.

I understand the concept of 6 confirmations, but preferably it remains within the 10 minutes time frame and never takes longer.

So then its only a gamble to me   

Sky is the limit.

I admit that it's Sunny King's enthusiasm that got me convinced just to park some on my hard drive. As long as it is not open source, it's basically a gamble. To me, it is a better gamble that it concerns something new than the known spin offs of Bitcoin. A better bet than the lottery I would say.

You should have some of all those coins, especially de coins to support devs doing all the hard dev-work for us.

With the memory of Bitcoin 2010 fresh in memory, what's to lose with exposing yourself to PPCoin for a small amount?

My interest in Devcoin is its small existence and the prospect of devs getting rewards for development. This could potentially also benefit other crypto currencies.

Yes, I was able see all command by means of command line and help flag but there does not seem to be a flag that starts (solo) mining. Tx for all your help BTW.

I'm sorry, that too technical for me to follow. I thought it would be interesting to mine Devcoin just to see it work and play with it. If someone can explain how to solo mine in lay men's term, I would be obliged 

QFT. There is no end to current stupidity.

I try to solo mine with Devcoin but this beast seems to differ from Litecoin/Bitcoin. The Daemen runs on my Windows PC but the gen=1 switch in the conf file does not matter much. The gethashespersec is still 0... ?

In principle I agree, but BTC has proven to be a different market. Sideways, its a buy. Down, its a real buy, and it does not get down that often.

If some country is longing for a strong currency, it would be the Germans. Weimar never again.. 

Always interested: 1GWLL4L8a7v2aP34o97Fa52VvrTyXAwXD1

Aah, graphs always nice.

Since there are a dozen topics on how high the price of BTC can go, I made a projection of BTC's price development in excel. The trouble with projections is...... that it is just that: projections. My sheet is full of assumptions and hand tweaking of numbers to make the graphs look nice. Having said so, let's spit out the outlines of this projection.

• exponential average annual growth factor between 1.6 and 3.5
• 2013 as the start of data (with $150,000 market cap)
• S-curve type price action (meaning faster growth in the beginning and slower at the end)
• correction in the S-curve to account for BTC inception in 2009 instead of 2013 (meaning: already in fast growth mode in 2013)
• 5% final market cap of the current $70-80 trillion (I don't think that is unrealistic)
• hitting $1,000: light green, $10,000: darker green, $100,000: even darker green, full market cap: green
• 4 scenarios ranging from cautious to aggressive

Of course, none of this is scientific; its make believe   Nonetheless, the better my assumptions are, the better insight of the possible price projection. Main assumption is, of course, that Bitcoin will survive all those years and will actively be developed further to accommodate trading to reach a 5% market cap.

Excel spouts out the following sheet:


The graphs that belong to the sheet:


The graphs are not that interesting. Price will reach some $180,000 in either scenario, the S-curve is obviously present in all of them (since unscientifically engineered by me) and details of our current period are lost in the small numbers until the big leap. The only thing interesting is the time frame, but that is clear from the sheet as well. Nevertheless, for the power-graph hungry people I included the graphs.

From the sheet, it appears that a slow scenario vs an aggressive scenario is 'only' 10 years. Nevertheless, if your goal is $100,000/BTC, then it makes a lot of difference whether we take the Android/Youtube/Fabecook route (very fast adaptation, 3-8 years) or the Intel/Phone/TV route ('normal' adaptation, 10-20 years).

The good news is that reaching $1,000 happens more or less at the same moment. In each scenario, the $1,000 mark is reached within the time frame 2016-2017. After that, the differences start to grow. While reaching $10,000 comes relatively fast in all scenario's, reaching $100,000 will take some time. Also in the aggressive scenario, the wait lasts until 2019. That is still 6 years away and 6 years is long in the Internet 2.0 age we're in.

What I take away from this calculation exercise:

• even with a 5% market cap target, the rewards over time look very promising if you get in now with one single BTC
• the real prize ($100,000/BTC) will take some time regardless of the scenario (so for those that only started in 2011 as wannabee millionaires: have patience...)
• reaching $1,000 is a breeze and will happen soon in either scenario
• and the final kicker: look at the aggressive scenario and think of an even more aggressive scenario......  
• therefore: buy and hold. Keep on buying at least until $1,000/BTC

The sky is the limit.