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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 587720 times)
Ron~Popeil
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June 10, 2014, 02:07:46 AM
 #1541

Thanks for all the information guys. I have much to learn and even more work to acquire enough bit coin to make it worthwhile. I do appreciate the time you guys have taken to explain in some more detail.

I did reach one whole bit coin today finally so that is a start.
Onward to 100! Work your ass off you only have a few years before it's too late!!! Work 3 jobs and eat catfood I'm serious man!

100 is my next goal. Once I make the down payment on my mortgage next month I am keeping my savings in the form of BTC. I should be well into double digits before Christmas. 


Well I don't know so much about that. It's all about the price.

I definitely feel the pressure to accumulate it before it goes up. A nice long period of price stability would help a lot. 

It is possible, that BTC will squeak out another month or two of "price stability;" however, if you think about the recent BTC price situation within the whole scheme of things, BTC prices have been below $700 for about 4 months, and I would call that pretty stable.. and it is possible to experience one or two months of these below $700 prices; however, based on the large amount of development and expansions  in the bitcoin space, it seems to become less and less probably that BTC prices are going to stay below $700 for much longer than that.. and personally, I believe that 2 months is a bit of a stretch to hope for prices to remain below $700.

On the other hand, with any paradigm shifting market, such as bitcoin, there remain explorations and movement into less charted territory that is influenced by the merging of human behavior and politics and momentum and technology... so we can prognosticate in terms of probabilities, while continuing to retain our doubts regarding the exact direction of BTC and/or its prices.








That is why I can't wait to get this mortgage closed. I need to free up my fiat.   

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shixiandcseu458
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June 10, 2014, 02:14:50 AM
 #1542

Great, this is a good step towards even better community
Ron~Popeil
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June 10, 2014, 02:30:28 AM
 #1543

Great, this is a good step towards even better community

And toward a better world. The geeks shall inherit the earth.  Grin

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June 10, 2014, 02:44:17 AM
 #1544

Looks interesting and i have voted.

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June 11, 2014, 01:45:20 AM
 #1545

just want to mark !!, hope we all can get rich after 2 years. 2 yearl later when bitcoin is 100000 per B ,i will be back..

                                 
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Bit_Happy
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June 11, 2014, 02:17:20 AM
 #1546

just want to mark !!, hope we all can get rich after 2 years. 2 yearl later when bitcoin is 100000 per B ,i will be back..

Real value/wealth will come from gains in BTC/Gold, since $1,000,000/BTC will not matter if the Dollar is totally toilet paper.


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June 11, 2014, 09:19:06 AM
 #1547

just want to mark !!, hope we all can get rich after 2 years. 2 yearl later when bitcoin is 100000 per B ,i will be back..

Real value/wealth will come from gains in BTC/Gold, since $1,000,000/BTC will not matter if the Dollar is totally toilet paper.



Or, you could use another currency for exchange, like the Zimbabweans did.
There are other countries than the US you know.

Demokrati: Två vargar och ett lamm röstar om lunchmenyn.      Democracy: Two wolfes and a lamb votes about the lunch menu.
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June 11, 2014, 12:51:00 PM
 #1548

just want to mark !!, hope we all can get rich after 2 years. 2 yearl later when bitcoin is 100000 per B ,i will be back..

Real value/wealth will come from gains in BTC/Gold, since $1,000,000/BTC will not matter if the Dollar is totally toilet paper.



At least you would have preserved your purchasing power by getting Gold/BTC but you can bet you would have make a profit in real terms as well

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June 11, 2014, 01:23:58 PM
 #1549

I am pretty certain if I would have read this post like 3 years ago I would be in my own Yacht & would have own my Island by own!




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June 11, 2014, 03:17:44 PM
 #1550

I am pretty certain if I would have read this post like 3 years ago I would be in my own Yacht & would have own my Island by own!





How many BTC do you have? Wink

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June 11, 2014, 05:06:27 PM
 #1551

Wealthy elite? huh  Embarrassed there is a long long way to being a wealthy elite and im not even in the middle of it.
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June 11, 2014, 05:44:24 PM
 #1552

just want to mark !!, hope we all can get rich after 2 years. 2 yearl later when bitcoin is 100000 per B ,i will be back..

Real value/wealth will come from gains in BTC/Gold, since $1,000,000/BTC will not matter if the Dollar is totally toilet paper.



At least you would have preserved your purchasing power by getting Gold/BTC but you can bet you would have make a profit in real terms as well
QFT, however...

I would argue that gold as a preservation of purchasing power has now become a rather dubious proposition at best. Bitcoin will reduce the value of gold to its ACTUAL USE VALUE.

Bitcoin is both digital cash AND digital gold, at the same time. It is cheaper and more secure to store than gold. Highly divisible. Any amount can be shipped to anywhere in the world, instantly, virtually for free.

Money is everything in our society. Bitcoin fundamentally restructures money. This changes absolutely everything. The consequences for our world will be tremendously, unimaginably far-reaching. This is a revolution.

Compare the exchange fees of Coinbase and Paypal and you will see what I mean. It's like comparing Blockbuster to Netflix - the former has no chance to compete in an open market - none.

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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June 11, 2014, 05:51:44 PM
 #1553

Only thing we should compare BTC to is something we all need and can not do without. Like food or water or something like that. How much, for example, bread can you buy with 1 BTC. Everything else, dollars, euros, gold, silver mean nothing and change all the time.
I know that it's higly inpractical to compare BTC to bread or milk, but if it could be done in some easy way, it would be information that we all need: "how much is BTC really worth in certain point of time".
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June 11, 2014, 05:55:37 PM
 #1554

Wealthy elite? huh  Embarrassed there is a long long way to being a wealthy elite and im not even in the middle of it.

Get started now Wink It only takes a decade or two to change from financial despair to financially confortable

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June 11, 2014, 05:59:01 PM
 #1555

I am pretty certain if I would have read this post like 3 years ago I would be in my own Yacht & would have own my Island by own!





So make sure you take action now, or you're going to fess up the same thing in 3 years.
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June 11, 2014, 06:04:17 PM
 #1556

Yep.  $600 is a joke compared to whats coming in the next 5 years.

-B-

Bitcoin's true purpose alluded-to in Satoshi's message on the Genesis Block:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
View it: Genesis Block Newspaper Times 03 Jan 2009
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June 11, 2014, 07:01:03 PM
 #1557

just want to mark !!, hope we all can get rich after 2 years. 2 yearl later when bitcoin is 100000 per B ,i will be back..

Real value/wealth will come from gains in BTC/Gold, since $1,000,000/BTC will not matter if the Dollar is totally toilet paper.



Or, you could use another currency for exchange, like the Zimbabweans did.
There are other countries than the US you know.

Yes there are other countries and other currencies besides the US of A, but the point is that the US dollar is and has been the international reserve currency for several decades, and that is why the US dollar was mentioned in the earlier posts as the comparison point, rather than some other currency.

I believe that the other point that is being batted around here in these series of recent posts is that if BTC holds value over time and it is truly deflationary over time, then BTC is going to need some tangible measuring points besides being compared with inflationary  fiat currencies.  As others have inferred, using a basket of goods and services may be a better measure of value over time - though in the immediate future, it seems that we are going to continue to make comparisons to various fiat - even while those various fiat currencies are losing their value at a very rapid rate that is difficult to measure... but may likely become more apparent when it comes to play out that the $80 billion printed every month for years and years is coming home to roost... and when banks stop sitting on those dollars that are piling up in their warehouses.

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June 11, 2014, 10:41:17 PM
 #1558

Can't believe I read through the whole thread but it was quite entertaining and informative, I currently only have 0.02 Bitcoin but I'm looking to dump whatever I have right now into buying as much Bitcoin as possible (only a student at the moment so it won't amount for very much Cheesy). I regret not looking into Bitcoin when I heard murmurs about it a couple of years back but oh well, I believe we're still heading full speed ahead and its better late than never!

- from one future wealthy elite to another  Grin
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June 11, 2014, 10:48:38 PM
 #1559

Question....how much one would need to have (in BTC) now, to be considered wealthy men in future....2-3 years from now? Would 1 BTC be enough for reasonable comfy life? Or maybe 10? Or less?
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June 11, 2014, 10:51:44 PM
 #1560

Question....how much one would need to have (in BTC) now, to be considered wealthy men in future....2-3 years from now? Would 1 BTC be enough for reasonable comfy life? Or maybe 10? Or less?

Answer.... Depends how high Bitcoin goes obviously...which is speculation.

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