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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 579211 times)
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April 14, 2014, 08:32:39 PM
 #1041

How do you guys plan on being a 'wealthy elite'?
Maybe if you have at least 1000 btc

All it takes is 1

I am NOT trying to screw up anybody's wishes, yet I would like to hear how 1 BTC is going to make the holder a wealthy elite, and by when.. and how much will it be? 

I do understand the theory of BTC having the potential to take over about 25% or more of known currencies transactions and storage of value functions - however, something like that would be quite a ways into the future, if ever.

I also understand the theory of 7 Billion people in the world and only 21 million bitcoin (some bitcoin will be lost or forever removed from circulation) - but the 1 BTC to be a wealthy elite assumes fairly wide adoption of bitcoin and desire for bitcoin by the world... and acceptance by the current status quo wealthy to transfer some of their wealth into bitcoin.

So, by when will 1 BTC make a person a wealthy elite..?  and how much will it be?  and by the way, I don't expect to live forever, either, so I would like to enjoy some of this wealthy elite status while I still have some youth and energy.

If BTC does as well as gold (which was my last year revelation, considering fractional reserve and such - which is only now coming mainstream) having BTC1 is good and BTC10 is really rich.


I must be Warren Buffett then.

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April 14, 2014, 08:47:55 PM
 #1042

In the future:
wealthy = ~2 to 10 BTC
Wealthy elite = ~100+ BTC

For your grand-kids the numbers needed will probably be lower.
FYI: A ticket on Satoshi's spaceship (when he returns) will cost at least 10 to 20 BTC.

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April 14, 2014, 08:50:57 PM
 #1043

It is strange to see all the negativity about Bitcoin in the "Wall Observer BTC/USD - Bitcoin price movement tracking & discussion" when it has gone from 0 to where it is and with all the potential and talent that has a vested interested in Bitcoin success

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April 14, 2014, 09:02:36 PM
 #1044

In the future:
wealthy = ~2 to 10 BTC
Wealthy elite = ~100+ BTC

For your grand-kids the numbers needed will probably be lower.
FYI: A ticket on Satoshi's spaceship (when he returns) will cost at least 10 to 20 BTC.

Dang...how do I get to Wealthy elite!   Cry

I'm just merely future wealthy... Sad
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April 14, 2014, 09:26:10 PM
 #1045

In the future:
wealthy = ~2 to 10 BTC
Wealthy elite = ~100+ BTC

For your grand-kids the numbers needed will probably be lower.
FYI: A ticket on Satoshi's spaceship (when he returns) will cost at least 10 to 20 BTC.

Dang...how do I get to Wealthy elite!   Cry

I'm just merely future wealthy... Sad

Buy more coins.   Wink

1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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April 14, 2014, 09:29:22 PM
 #1046

In the future:
wealthy = ~2 to 10 BTC
Wealthy elite = ~100+ BTC

For your grand-kids the numbers needed will probably be lower.
FYI: A ticket on Satoshi's spaceship (when he returns) will cost at least 10 to 20 BTC.

Dang...how do I get to Wealthy elite!   Cry

I'm just merely future wealthy... Sad

Buy more coins.   Wink

Haha true!  Maybe you can convince my wife that I should buy more even though she thinks we have 1 too many.   Cool
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April 14, 2014, 09:34:02 PM
 #1047

In the future:
wealthy = ~2 to 10 BTC
Wealthy elite = ~100+ BTC

For your grand-kids the numbers needed will probably be lower.
FYI: A ticket on Satoshi's spaceship (when he returns) will cost at least 10 to 20 BTC.

Dang...how do I get to Wealthy elite!   Cry

I'm just merely future wealthy... Sad

Buy more coins.   Wink

Haha true!  Maybe you can convince my wife that I should buy more even though she thinks we have 1 too many.   Cool

Has she seen this thread?  ........LOL?  Cheesy

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April 14, 2014, 09:43:45 PM
 #1048

In the future:
wealthy = ~2 to 10 BTC
Wealthy elite = ~100+ BTC

For your grand-kids the numbers needed will probably be lower.
FYI: A ticket on Satoshi's spaceship (when he returns) will cost at least 10 to 20 BTC.

Dang...how do I get to Wealthy elite!   Cry

I'm just merely future wealthy... Sad

Buy more coins.   Wink

Haha true!  Maybe you can convince my wife that I should buy more even though she thinks we have 1 too many.   Cool

Has she seen this thread?  ........LOL?  Cheesy

Show her the thread.  Help her believe.  Smiley  Tell her that someday in the near future she will be able to spend only $1 for a pair of $100 shoes or maybe even $1 for a $1000 handbag if she just holds onto Bitcoin for a few years.

1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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April 14, 2014, 09:58:04 PM
 #1049

In the future:
wealthy = ~2 to 10 BTC
Wealthy elite = ~100+ BTC

For your grand-kids the numbers needed will probably be lower.
FYI: A ticket on Satoshi's spaceship (when he returns) will cost at least 10 to 20 BTC.

Dang...how do I get to Wealthy elite!   Cry

I'm just merely future wealthy... Sad

Buy more coins.   Wink

Haha true!  Maybe you can convince my wife that I should buy more even though she thinks we have 1 too many.   Cool

Has she seen this thread?  ........LOL?  Cheesy

Show her the thread.  Help her believe.  Smiley  Tell her that someday in the near future she will be able to spend only $1 for a pair of $100 shoes or maybe even $1 for a $1000 handbag if she just holds onto Bitcoin for a few years.

I try my best to convince her.   Tongue

She gets scared easily, thinks it's too risky.  I try to explain the benefits, but she says a little investment is okay for now.  To put more into bank savings not bitcoin savings.

It's an ongoing struggle, but at least I convinced her to download Bitcoin Core and buy 1 BTC for herself.  Just to see where it goes.  Grin

I'll take the small victories.  I think when her girlfriends and family start talking about it, she'll take me more seriously.  I genuinely think she thinks I'm crazy.   Cheesy

In a good way though...she lets me do my thing.  Once we spike up to $1000, I'm sure I'll be cursing her to holy hell though!   Angry Grin
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April 14, 2014, 10:05:42 PM
 #1050

I am optimistic but not that much. One can hope thou Smiley
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April 14, 2014, 10:45:37 PM
 #1051

I am optimistic but not that much. One can hope thou Smiley

This was the biggest mistake of my life. Either be optimistic, or leave it be. Both is fine, but you will regret "a little optimistic".

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April 14, 2014, 10:47:08 PM
 #1052

In the future:
wealthy = ~2 to 10 BTC
Wealthy elite = ~100+ BTC

For your grand-kids the numbers needed will probably be lower.
FYI: A ticket on Satoshi's spaceship (when he returns) will cost at least 10 to 20 BTC.

Dang...how do I get to Wealthy elite!   Cry

I'm just merely future wealthy... Sad

Buy more coins.   Wink

Haha true!  Maybe you can convince my wife that I should buy more even though she thinks we have 1 too many.   Cool

Has she seen this thread?  ........LOL?  Cheesy

Show her the thread.  Help her believe.  Smiley  Tell her that someday in the near future she will be able to spend only $1 for a pair of $100 shoes or maybe even $1 for a $1000 handbag if she just holds onto Bitcoin for a few years.

I try my best to convince her.   Tongue

She gets scared easily, thinks it's too risky.  I try to explain the benefits, but she says a little investment is okay for now.  To put more into bank savings not bitcoin savings.

It's an ongoing struggle, but at least I convinced her to download Bitcoin Core and buy 1 BTC for herself.  Just to see where it goes.  Grin

I'll take the small victories.  I think when her girlfriends and family start talking about it, she'll take me more seriously.  I genuinely think she thinks I'm crazy.   Cheesy

In a good way though...she lets me do my thing.  Once we spike up to $1000, I'm sure I'll be cursing her to holy hell though!   Angry Grin

Maybe you can convince her to buy some gold too it is way better than fiat

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April 14, 2014, 10:48:26 PM
 #1053

Once you're a wealthy elite, you have unlimited escorts and sugar babies

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April 15, 2014, 01:34:55 AM
 #1054

Once you're a wealthy elite, you have unlimited escorts and sugar babies

True Love > "unlimited escorts and sugar babies"   
(for at least some people)

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April 15, 2014, 01:48:57 AM
 #1055

Once you're a wealthy elite, you have unlimited escorts and sugar babies

True Love > "unlimited escorts and sugar babies"   
(for at least some people)

I've become cynical

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April 15, 2014, 04:53:57 AM
 #1056

Once you're a wealthy elite, you have unlimited escorts and sugar babies

True Love > "unlimited escorts and sugar babies"   
(for at least some people)

I've become cynical

I've become cyclical.  Cheesy

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April 15, 2014, 08:23:44 AM
 #1057

Once you're a wealthy elite, you have unlimited escorts and sugar babies

True Love > "unlimited escorts and sugar babies"   
(for at least some people)

I've become cynical

... put down the bitcoin and step away from the keyboard.

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April 15, 2014, 06:36:21 PM
 #1058

Once you're a wealthy elite, you have unlimited escorts and sugar babies

True Love > "unlimited escorts and sugar babies"   
(for at least some people)

...or you can have a True Love for unlimited escorts and sugar babies...haha


 
 
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April 16, 2014, 11:50:57 AM
 #1059

Banks are not inherently evil. [...] The business of a legitimate bank is to get money loaned out on a risk appropriate basis, and make money for their depositors via interest. Doing this fosters development and adoption.
Correct.

There are a great many reasons why banking would be very good for bitcoin and other cryptos.
Incorrect.

Only a fool would lend a highly volatile currency like bitcoin is, since if it goes one way they pay you back easily but they're worth less, and if they go the other way they just won't be able to pay you back at all.

Plus, there's no bitcoin ecosystem, which is one of the reasons they are so volatile, so it would be silly to ask a loan in that currency anyway: you should get loans in the currency you are actually going to base your businss on.

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April 16, 2014, 11:56:55 AM
 #1060

Banks are not inherently evil. [...] The business of a legitimate bank is to get money loaned out on a risk appropriate basis, and make money for their depositors via interest. Doing this fosters development and adoption.
Correct.

There are a great many reasons why banking would be very good for bitcoin and other cryptos.
Incorrect.

Only a fool would lend a highly volatile currency like bitcoin is, since if it goes one way they pay you back easily but they're worth less, and if they go the other way they just won't be able to pay you back at all.

Plus, there's no bitcoin ecosystem, which is one of the reasons they are so volatile, so it would be silly to ask a loan in that currency anyway: you should get loans in the currency you are actually going to base your businss on.


The volatility has a lot to do with the fact that it is NOT much of an ecosystme at the moment. It's getting there.

In fact a lot of short term loans ARE made with bitcoin. I think a bank or bank like institution would actually help that, as they would set longer term interest rates just due to the nature of finance.

And we ARE speculating on the future here Cheesy

Besides that, a great many banks rely upon and utilize the US dollar. Can you think of a more volatile currency? It's current value is so far below it's initial market as to be a ludicrous, yet it continues on...

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