will take years
... to spend all the money gained when it has reached 1000,-  |
|
|
|
Otherwise you get into silly situations like if you sell bitcoin to re-buy more, you are helping Bitcoin, etc...
I've helped more than 100 people buy Bitcoins for the first time by reselling Bitcoins. Most of them probably would have bought eventually, but more than one has told me they only bought because there was somebody in their area with a good reputation that was willing to meet them and explain the process. Maybe that's not what you meant, but it certainly is one way to help adoption of the currency grow. check out this poll: https://bitcointalk.org/index.php?topic=300021.msg3216179#msg3216179indeed very interesting thread. |
|
|
|
the rocket is fueled:  |
|
|
|
When Mt Gox first opened in July 2010, I'm sure most people in the community would've considered you a bit of a wacko if you'd suggested that bitcoin would be changing hands at $30 in less than a year. While I don't think the exchange rate will hit four figures in the near future (next few months), it's far too risky to make predetermined judgments one way or another. Long-term valuation of bitcoin is probably either very high or zero, though.
Why it cant be between 100 and 1000 in let say ten years? If the Bitcoin will be used, it doesnt need to have 0 value. And very high, like 1mil USD/BTC will never happen, its only crazy dream what if it becomes trendy to own at least one bitcoin ? there are probably 500 mio people in the world who could afford 1 btc at current prices. or what if the rich start to see bitcoin as a funny little investment ? or banks, financial service companies around the globe start to notice the beauty of the protocol and start using it instead of their own infrastructure. or it becomes the leading internet payment system... 1000,- $ for a btc will not cover this at all |
|
|
|
so the rocket is fueled & ready to go ? edit: i wonder what the spoon is needed for ? |
|
|
|
Cyprus was a money laundering and tax evasion industry. People who had funds there gambled with them... and lost.
so is delaware, english channel islands, luxemburg, switzerland, lichtenstein, cayman islands, ... ... you imply it was ok to seize funds ? what about regular companies bank accounts in cyprus ? or do you really want to say there were only criminals making business on this island ? |
|
|
|
Price impact: Dramatically up
But not right away. Consider what will happen:
1) It will take X days, weeks, or months for the initial few million $ worth to be bought up. Those purchases have no effect on the exchange price, or maybe even a mild negative effect if some who were buying coins steadily via the exchanges switch over to BIT.
2) Once the initial few million in seed is bought up, Second Market will start to purchase more, maybe $5-10 million worth. If they do part or all of this on an exchange, the price impact will of course be strongly positive. However, given how many contacts they have for private placement, they'll likely acquire part or all of those coins from dark, non-exchange sources. If they purchase very few of those coins on exchanges, the immediate price impact will be negligible, but the medium-term effect will be dramatic.
The reason why is a bit subtle but very real: Insofar as the people Second Market buys the coins from would have sold those coins on exchanges if it weren't for SM giving them the wonderful opportunity to sell without slippage, that much less BTC is going to be available on the exchanges. The same amount of money chasing fewer BTC means a higher price per coin. But there will be a time delay, perhaps days or weeks, maybe in some cases months.
The fun part is that those who understand the time delay get to make money off those who are fooled by the time delay. Translation: Buy before the price rises and get in on the ground floor of the next stage of the bitcoin rocket.
if i were in charge of purchasing the coins for the trust i would make sure to buy a healthy part at the exchanges to drive up price. that will make BIT look even more attractive since performace inreases with price. |
|
|
|
If you had all the bitcoins existed, how much they would be worth? [/quote] i´d say they are worth what i paid for them. |
|
|
|
1) In the real world, if I own $100 cash, I have one piece of paper with $100 written on it that proves this fact. In the bitcoin world, I don't have a piece of file that proves my ownership of some BTC, but rather there's a peer-to-peer network that traces all bitcoin transactions and tallying some of these transactions proves how much BTC I own. Is my understanding correct?
Yes, if you want to send some Bitcoins from some address, you have to prove you own these Bitcoins well, you simply cannot send bitcoins that do not belong to you and belonging means you have the private key. bitcoins can only be pushed, never pulled. |
|
|
|
So we have all those trusts and funds; and they will grow and new will arrive. They will accumulate bitcoins. So no bitcoins left for real use. No real economy. And .... bitcoins will be worth 0.
you are basically saying that purchasing bitcoins will make less of them available (true) and this will lower the price ?    |
|
|
|
no, those are the brave thread posters/knc customers starting to panic... guys chicken, relax ! it´s not a scam, they will deliver, their products are way above industry standard, they are genuine. start freaking out TUESDAY, but not on a 27th, when there are three more days to come. if you can´t hold it & shit in your pants please feel free to offer me your day 1 jupiters & put me on the fanboy list. i give you 40 btc. knc wars. epic. This is our Facility with WORKING Easter Egg Colored Batch Producers. Currently hatshing at 400 CEE/S  We Bring the Future To You |
|
|
|
"Barry Silbert has been obsessed with Bitcoin. Obsessed. His priorities in life, he says, are ordered as such: his wife, his company, and Bitcoin. The crypo-currency is the first thing he has seen like it since the Internet.
Silbert has invested plenty of his own money into actual Bitcoins, which he’s purchased on Bitcoin exchange Mt. Gox. He’s also invested in 10 Bitcoin-related startups (and one fund) through his aptly named fund, The Bitcoin Opportunity Fund.
As of today, he’s taken it a step further, merging his second and third priorities. Today, he announced that his company, SecondMarket, which allows investors to buy and sell shares in private companies, will now allow investors to buy and sell shares in a Bitcoin trust.
Bitcoin Investment Trust launches as an open-ended private trust that invests exclusively in Bitcoin. The private fund is currently raising capital, and SecondMarket has kicked things off with a $2 million allocation. The Trust will operate as a subsidiary of SecondMarket.
The fund will allow people to invest in Bitcoin the same way they’d invest in gold or silver. In fact, Silbert said, the trust mimics the structure of Spider Gold Trust, the exchange traded fund (ETF) which invests exclusively in gold. These commodities trusts were the catalyst to making gold an investable asset class of its own, bringing gold investing to the masses. (....)"http://pandodaily.com/2013/09/25/secondmarket-goes-all-in-on-bitcoin-launching-a-private-trust/i don´t get it: this is obviously a big thing to happen to bitcoin. despite all fears of becoming outlawed, despite unstable infrastructure, despite regulators hyperventilating, despite all the fud, despite of the "crash", despite of being complicated, despite of lacking uses in the real world -- here you have a guy like barry silbert putting his reputation and with it his multi-million $ company at stake since he seem to know that bitcoin IS big for which every bitcoin enthusiast should welcome him, this forum is full of pessimistic farts acting in a similar way as the non-bitcoin educated folks/nay sayers always do when it comes discuss bitcoin ("scam, ponzi, no use, drugs, no intrinsic value...). if you are sooooo pessimistic about obvoiusly good news why don´t you simply put your energy and time into something you believe in ?i doubt that pessimism will help bitcoin to fly. i think enthusiasm will help more. if you are mad because you sold your 10 k bitcoins last year, it was clearly not happening because you were enthusi sry 4 rant
|
|
|
|
sam and o´rama spotted with cam on their way to... china ... !  |
|
|
|
So... Where is 'orama? Only one post today? Smells fishy  on his way to stockholm. guess not to eat fish. so no, not fishy. |
|
|
|
Hi!
Been lurking here a bit, finally decided to sign up. There's some gap in my understanding of how bitoins work. I hope it's OK to ask here. Here it is:
1) In the real world, if I own $100 cash, I have one piece of paper with $100 written on it that proves this fact. In the bitcoin world, I don't have a piece of file that proves my ownership of some BTC, but rather there's a peer-to-peer network that traces all bitcoin transactions and tallying some of these transactions proves how much BTC I own. Is my understanding correct?
2) If I'm correct above, then would it take longer and longer to compute who owns how much BTC as more and more transactions have taken place?
Apologies if the above questions sound stupid. I've spent hours reading and even watching videos on how bitcoin works but alas I'm not a crypto or maths expert.
welcome 1) in online wallets for example your current holdings are displayed like money that is on your online banking account. same with bitcoins you have on your exchange account. (please do not keep significant amounts of bitcoins on online wallets or exchanges, and always use 2f authentification) 2) all transactions are stored forever and publicly in the blockchain. this blockchain is indeed growing with every transaction. if you download a bitcoin client software like bitcoin-qt it indeed takes longer now to download all past transactions than it did a year ago. but it does not matter when you move/send your bitcoins to another bitcoin adress: the computing of the this transaction is not done by your computer but instead by bitcoin miners (which are getting rewarded for doing this) a very nice analogy is the piggy bank analogy: https://medium.com/bitcoins-digital-currency/a9a8c094feaf |
|
|
|
That would be nice, I'm having a bit of a dilemma. I can't choose between investing my current balance in gold/silver or just keeping it for a year.
why not 50/50 ? |
|
|
|
This is as silly as basing a trust on the typical penny stock. lol. when was the last time you put a positive remark under any kind of bitcoin related news ? |
|
|
|
Hi,
Do you have the chips in hand (zefir states he has posted them) and how much for shipping to Australia?
sry, got refunded. no chips for sale |
|
|
|
Angry Birds maker Rovio has a market cap of around $6-7 billion ffs People need to put this in context a bit. This is f... Angry birds we're talking about not a revolutionary payment system and store of value that can revolutionize the world. http://www.dailymail.co.uk/sciencetech/article-2141123/Angry-Birds-creators-float-stock-market-5-5-BILLION-puzzle-game-hits-200-million-users-month.html[/quote] angry birds is bigger than bitcoin ?  -what if angry birds gets outlawed, regulated ? -is angry bird really anoymous ? -will there ever be more than 21 mill angry birds ? -only criminals are using angry birds for drugs, money laundering, etc. -angry birds must be a ponzi scheme -my grandma will never play angry birds -what is the intrinsic value of an angry bird ? |
|
|
|
|
Show Posts
