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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 508059 times)
wachtwoord
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April 18, 2014, 10:52:42 AM
 #1121

Let's see when Bitcoin price reaches $10,000+

The the people who bought now will be called early adopters with an unfair advantage.

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bryant.coleman
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April 18, 2014, 11:45:42 AM
 #1122

The the people who bought now will be called early adopters with an unfair advantage.

I don't think that a very large majority of the current Bitcoin holders will sell their coins much before the exchange rate reaches $10,000. Bitcoin is a HYIP. So people might cash-out typically in 6 months to 12 months time. They will not wait till Bitcoin reaches 10K.

The same happened with most of the guys, who purchased the coins for $0.1 each in 2011. When BTC reached $10 in 2012, almost all of them cashed out.

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April 18, 2014, 12:02:38 PM
 #1123

The same happened with most of the guys, who purchased the coins for $0.1 each in 2011. When BTC reached $10 in 2012, almost all of them cashed out.
Tell me something... Why should we geniuses care what people with inferior pattern recognition do with their money?

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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April 18, 2014, 12:23:12 PM
 #1124

Just remember $1000 was absurd and you would have been ridiculed

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Lauda
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April 18, 2014, 01:00:50 PM
 #1125

Let's see when Bitcoin price reaches $10,000+

The the people who bought now will be called early adopters with an unfair advantage.
What about the people who bought in at 0.01$, what would they be?


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kwukduck
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April 18, 2014, 02:13:44 PM
 #1126

The title of this topic becomes more funny by the day....

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bryant.coleman
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April 18, 2014, 02:19:24 PM
 #1127

What about the people who bought in at 0.01$, what would they be?

They are also early innovators

I am once again posting the chart:



Everyone who possess any Bitcoins now fall in the category of innovators.

SlipperySlope
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Stephen Reed


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April 18, 2014, 04:33:58 PM
 #1128

What about the people who bought in at 0.01$, what would they be?

They are also early innovators

I am once again posting the chart:



Everyone who possess any Bitcoins now fall in the category of innovators.

Thanks for bringing this chart to my attention. I shall add it to the top post of my logistics model thread.
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April 18, 2014, 04:42:27 PM
 #1129

What about the people who bought in at 0.01$, what would they be?

They are also early innovators

I am once again posting the chart:



Everyone who possess any Bitcoins now fall in the category of innovators.

Thanks for bringing this chart to my attention. I shall add it to the top post of my logistics model thread.

what do you call the people before the 2.5% ?

also what % are we at now?

If Bitcoin is to become a trillion dollar market,
and market cap now is under 10 billion, isnt that below 1%?

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Stephen Reed


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April 18, 2014, 04:48:07 PM
 #1130

what do you call the people before the 2.5% ?

also what % are we at now?

If Bitcoin is to become a trillion dollar market,
and market cap now is under 10 billion, isnt that below 1%?

We are well below 1% in my opinion. Transaction quantity growth is 3.2x annually so it will take several more years to exceed the reported current quantity of worldwide credit card transactions - 6000x in total. In the below S-Curve chart from my million dollar model, you cannot even see the difference between the price and the horizontal axis.

bryant.coleman
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April 18, 2014, 05:25:42 PM
 #1131

what do you call the people before the 2.5% ?

See, right now there are less than 3 million people who owns Bitcoins.

In an optimal scenario, there can be 1 billion to 2 billion Bitcoin users (look at the number of people who use CC / WU or even Paypal).

So, right now, we are around 0.2% or 0.3%.

We can call ourselves early innovators.  Grin

maranello1561
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April 18, 2014, 05:36:34 PM
 #1132

http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/

After reading this, the scale of black market and digital economies and the effect Bitcoin will have on them I am pretty certain we are going to be very wealthy men -- even with a sum as small as 10 Bitcoins. It's just so hard to believe. We are only in the beginning storms with these significant rallies from 10 to 20 dollars. I will not be surprised to see prices from hundreds to thousands in the coming months.

The world just isn't going to be the same and we have been blessed as the pioneers.

What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop?

When bitcoin hits $10,000, I'm gonna spend it all on the 3 Bs... bitches, booze and bong
ple
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April 18, 2014, 05:51:04 PM
 #1133

So if I have just one coin, I will be wealthy?
No, sorry.


Well then how many do I need?
Two
Lauda
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April 18, 2014, 05:57:02 PM
 #1134

What about the people who bought in at 0.01$, what would they be?

They are also early innovators

I am once again posting the chart:



Everyone who possess any Bitcoins now fall in the category of innovators.
Hello innovator.


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SlipperySlope
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April 18, 2014, 06:24:07 PM
 #1135

When bitcoin hits $10,000, I'm gonna spend it all on the 3 Bs... bitches, booze and bong

You know, one of the mind-bending aspects of the Bitcoin Economy is the notion that merely by postponing spending, you become wealthier. Most observers would say that your plans are not virtuous, in fact they are vices by the very definition of vice.

I am curious to know to what extent you actually execute your plan - which I think will be an option in 2015. I have an hypothesis, without evidence so far, that the Bitcoin Economy encourages virtuous economic behavior, especially saving.

I propose that you consider postponing your binge for 12 additional months, so that your coin will be valued at $100,000 each, and in that time you may have matured sufficiently to spend more wisely - for example helping your loved ones.
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April 18, 2014, 06:59:55 PM
 #1136

When bitcoin hits $10,000, I'm gonna spend it all on the 3 Bs... bitches, booze and bong

You know, one of the mind-bending aspects of the Bitcoin Economy is the notion that merely by postponing spending, you become wealthier. Most observers would say that your plans are not virtuous, in fact they are vices by the very definition of vice.

I am curious to know to what extent you actually execute your plan - which I think will be an option in 2015. I have an hypothesis, without evidence so far, that the Bitcoin Economy encourages virtuous economic behavior, especially saving.

I propose that you consider postponing your binge for 12 additional months, so that your coin will be valued at $100,000 each, and in that time you may have matured sufficiently to spend more wisely - for example helping your loved ones.

SlipperySlope you are kind to respond.  I figured it was pointless to use any logic. Wink

1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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Stephen Reed


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April 18, 2014, 07:12:15 PM
 #1137

SlipperySlope you are kind to respond.  I figured it was pointless to use any logic. Wink

Ha. I am allowed some pocket petty cash by the fiscal guardian of our household. I could spend it secretly on a variety of legal petty vices, or fast food and such outside my meal plan.

But I am putting every last buck into my local Robocoin ATM.

Virtue feels good - no hangover, no bad buzz headache, no overstuffed greasy food feeling. Just saying.
BitChick
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April 18, 2014, 08:02:55 PM
 #1138

SlipperySlope you are kind to respond.  I figured it was pointless to use any logic. Wink

Ha. I am allowed some pocket petty cash by the fiscal guardian of our household. I could spend it secretly on a variety of legal petty vices, or fast food and such outside my meal plan.

But I am putting every last buck into my local Robocoin ATM.

Virtue feels good - no hangover, no bad buzz headache, no overstuffed greasy food feeling. Just saying.

I am hoping the price gets to $10,000 so I can put more towards the mission trip I am taking to India in the Fall.  Smiley

I would like to say all my thoughts are virtuous of what I will do when Bitcoin rises, but I have been looking at real estate listings online.  Of course, that could be considered an "investment!"  Grin

But I like to joke that that I am way to cheap to ever spend money on alcohol.  I even have a hard time spending money on soft drinks when we go out to eat!


1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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April 18, 2014, 09:54:31 PM
 #1139

what do you call the people before the 2.5% ?

also what % are we at now?

If Bitcoin is to become a trillion dollar market,
and market cap now is under 10 billion, isnt that below 1%?

We are well below 1% in my opinion. Transaction quantity growth is 3.2x annually so it will take several more years to exceed the reported current quantity of worldwide credit card transactions - 6000x in total. In the below S-Curve chart from my million dollar model, you cannot even see the difference between the price and the horizontal axis.


So you're predicting $100k at the start of 2016?  That's a bold prediction...!
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April 18, 2014, 10:03:41 PM
 #1140

what do you call the people before the 2.5% ?

also what % are we at now?

If Bitcoin is to become a trillion dollar market,
and market cap now is under 10 billion, isnt that below 1%?

We are well below 1% in my opinion. Transaction quantity growth is 3.2x annually so it will take several more years to exceed the reported current quantity of worldwide credit card transactions - 6000x in total. In the below S-Curve chart from my million dollar model, you cannot even see the difference between the price and the horizontal axis.


So you're predicting $100k at the start of 2016?  That's a bold prediction...!

Some people are predicting that price for next year, or even the end of this year.  I am totally fine with 2016 though.  Grin

1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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