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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 608714 times)
Bit_Happy
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June 23, 2014, 08:34:00 AM
 #1681

Don't get cocky.
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June 23, 2014, 08:35:57 AM
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No Bitcoin holder yet has real money by global standards and we are a long way from that. An early miner/ investor with 20,000 coins is a whale -- but in global financial terms is a minnow and will be even when the price is higher.
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June 23, 2014, 08:42:25 AM
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Be humble, be wise, don't make dumb purchases or lavish ones, work hard, be frugal and worry about being wealthy and elite when we hit $50k per coin.
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June 23, 2014, 08:47:06 AM
 #1684

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.




Hopefully in two years they'll say the same about "people who own 1 or more bitcoin"
Those with patience will be rewarded, but this next bubble seems to be taking forever to arrive


 
 
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cambda
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June 23, 2014, 09:01:18 AM
 #1685

No Bitcoin holder yet has real money by global standards and we are a long way from that. An early miner/ investor with 20,000 coins is a whale -- but in global financial terms is a minnow and will be even when the price is higher.



20,000 coins is about 0,1 % of all Bitcoins. If Bitcoin ever become as popular as gold for saving wealth, 0,1 % seems a lot


 
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June 23, 2014, 09:31:39 AM
 #1686

20,000 coins is about 0,1 % of all Bitcoins. If Bitcoin ever become as popular as gold for saving wealth, 0,1 % seems a lot

Comparing Bitcoin to Gold?

Speaking about gold, some 200,000 tonnes of the yellow metal exists in the world. The total worth is around $8.36 trillion. The current market capitalization of Bitcoin is just 1/1000th of that amount.  Grin

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June 23, 2014, 11:49:57 AM
 #1687

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.
Hopefully in two years they'll say the same about "people who own 1 or more bitcoin"

Will crypto win over fiat?
Is BTC the winning crypto?

As long as the answer to both of these questions is positive, just hold any number above BTC1 and you will be rich, and anything over BTC0.1 will be doing well, anything over BTC0.01 is above average, since the average guys will have BTC0.001 or less.

It does not matter at all how much fiat someone has, until he buys BTC with it, he will have none.
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June 28, 2014, 05:37:12 PM
 #1688

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.
Hopefully in two years they'll say the same about "people who own 1 or more bitcoin"

Will crypto win over fiat?
Is BTC the winning crypto?

As long as the answer to both of these questions is positive, just hold any number above BTC1 and you will be rich, and anything over BTC0.1 will be doing well, anything over BTC0.01 is above average, since the average guys will have BTC0.001 or less.

It does not matter at all how much fiat someone has, until he buys BTC with it, he will have none.

I was just thinking that at some point this logic (that even BTC1 is hugely valuable) should become widely known.  It hasn't crossed that line yet though.  The sentiment still seems to be that it is somewhat risky and highly speculative.

When will the masses see the value in holding 1?  I suppose this "knowledge" will be shown in the adoption rate but there might be a tipping point where it becomes more clearly obvious to a larger number of people. 

1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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June 28, 2014, 06:14:08 PM
 #1689

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.
Hopefully in two years they'll say the same about "people who own 1 or more bitcoin"

Will crypto win over fiat?
Is BTC the winning crypto?

As long as the answer to both of these questions is positive, just hold any number above BTC1 and you will be rich, and anything over BTC0.1 will be doing well, anything over BTC0.01 is above average, since the average guys will have BTC0.001 or less.

It does not matter at all how much fiat someone has, until he buys BTC with it, he will have none.

I was just thinking that at some point this logic (that even BTC1 is hugely valuable) should become widely known.  It hasn't crossed that line yet though.  The sentiment still seems to be that it is somewhat risky and highly speculative.

When will the masses see the value in holding 1?  I suppose this "knowledge" will be shown in the adoption rate but there might be a tipping point where it becomes more clearly obvious to a larger number of people. 

That's an interesting question. How long before the fringe elements trend becomes trendy with the masses?

The hippie counterculture movement of the 1960's really started with beatniks in the 1950's. Most historians agree that beatniks officially became hippies in about 1967. LSD was considered their Bitcoin and was supposed to be a tool for transforming society as a whole. As with most things trendy the movement began in and around San Francisco (like Bitcoin - even DPR was captured in SF). Psychedelic rock and the hippie movement really took off with Peoples park, Woodstock and Altamont which all happened in 1969. By 1972-75 all of us were wearing tie die and saying "the MAN got you down well fuck the Man!". By mid 1980's or so Starwood Festival and Burning Man were continuing on the tradition but it was still a fringe group of people and the original hippies were all yuppies and joined mainstream business. In other words, they all became "the MAN".

So mass adoption of a trend because it's cool, let's say, from 1950-1975, 25 years give or take. Did the trend of my generation change the world? Meh, let me just say, I'm still waiting for the Age of Aquarius. lol

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June 28, 2014, 06:19:17 PM
 #1690

interesting footnote about San Fran.

an another obvious comparison that's been made a zillion times
is the Internet.  Only nerds used it in 1995, and pretty much
everyone used it by 2010.

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June 28, 2014, 06:29:03 PM
 #1691

interesting footnote about San Fran.

an another obvious comparison that's been made a zillion times
is the Internet.  Only nerds used it in 1995, and pretty much
everyone used it by 2010.

That's a good one. 95-2010, 15-25 years is in the zone.

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June 28, 2014, 06:35:24 PM
 #1692

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.
Hopefully in two years they'll say the same about "people who own 1 or more bitcoin"

Will crypto win over fiat?
Is BTC the winning crypto?

As long as the answer to both of these questions is positive, just hold any number above BTC1 and you will be rich, and anything over BTC0.1 will be doing well, anything over BTC0.01 is above average, since the average guys will have BTC0.001 or less.

It does not matter at all how much fiat someone has, until he buys BTC with it, he will have none.

I was just thinking that at some point this logic (that even BTC1 is hugely valuable) should become widely known.  It hasn't crossed that line yet though.  The sentiment still seems to be that it is somewhat risky and highly speculative.

When will the masses see the value in holding 1?  I suppose this "knowledge" will be shown in the adoption rate but there might be a tipping point where it becomes more clearly obvious to a larger number of people. 

That's an interesting question. How long before the fringe elements trend becomes trendy with the masses?

The hippie counterculture movement of the 1960's really started with beatniks in the 1950's. Most historians agree that beatniks officially became hippies in about 1967. LSD was considered their Bitcoin and was supposed to be a tool for transforming society as a whole. As with most things trendy the movement began in and around San Francisco (like Bitcoin - even DPR was captured in SF). Psychedelic rock and the hippie movement really took off with Peoples park, Woodstock and Altamont which all happened in 1969. By 1972-75 all of us were wearing tie die and saying "the MAN got you down well fuck the Man!". By mid 1980's or so Starwood Festival and Burning Man were continuing on the tradition but it was still a fringe group of people and the original hippies were all yuppies and joined mainstream business. In other words, they all became "the MAN".

So mass adoption of a trend because it's cool, let's say, from 1950-1975, 25 years give or take. Did the trend of my generation change the world? Meh, let me just say, I'm still waiting for the Age of Aquarius. lol

This post made me feel young. I was not even born yet during this.  Wink  You made my day!  Grin

But I agree that there is something to trends.  I do think that Bitcoin is a bit "trendy" at the moment.  There is something cool about it, especially with hip-hop artists, actors and sports figures embracing it.  But the store of value and speed and ease of transfer of funds, especially internationally, will be the catalyst to the growth of the trend to much greater heights, not just because it is cool to use.  Google Glass hasn't caught on yet and that was supposed to be cool and trendy but it is just not that useful and is more of a toy, for one example.

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June 28, 2014, 06:56:53 PM
 #1693

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.
Hopefully in two years they'll say the same about "people who own 1 or more bitcoin"

Will crypto win over fiat?
Is BTC the winning crypto?

As long as the answer to both of these questions is positive, just hold any number above BTC1 and you will be rich, and anything over BTC0.1 will be doing well, anything over BTC0.01 is above average, since the average guys will have BTC0.001 or less.

It does not matter at all how much fiat someone has, until he buys BTC with it, he will have none.

I was just thinking that at some point this logic (that even BTC1 is hugely valuable) should become widely known.  It hasn't crossed that line yet though.  The sentiment still seems to be that it is somewhat risky and highly speculative.

When will the masses see the value in holding 1?  I suppose this "knowledge" will be shown in the adoption rate but there might be a tipping point where it becomes more clearly obvious to a larger number of people. 

That's an interesting question. How long before the fringe elements trend becomes trendy with the masses?

The hippie counterculture movement of the 1960's really started with beatniks in the 1950's. Most historians agree that beatniks officially became hippies in about 1967. LSD was considered their Bitcoin and was supposed to be a tool for transforming society as a whole. As with most things trendy the movement began in and around San Francisco (like Bitcoin - even DPR was captured in SF). Psychedelic rock and the hippie movement really took off with Peoples park, Woodstock and Altamont which all happened in 1969. By 1972-75 all of us were wearing tie die and saying "the MAN got you down well fuck the Man!". By mid 1980's or so Starwood Festival and Burning Man were continuing on the tradition but it was still a fringe group of people and the original hippies were all yuppies and joined mainstream business. In other words, they all became "the MAN".

So mass adoption of a trend because it's cool, let's say, from 1950-1975, 25 years give or take. Did the trend of my generation change the world? Meh, let me just say, I'm still waiting for the Age of Aquarius. lol

This post made me feel young. I was not even born yet during this.  Wink  You made my day!  Grin

But I agree that there is something to trends.  I do think that Bitcoin is a bit "trendy" at the moment.  There is something cool about it, especially with hip-hop artists, actors and sports figures embracing it.  But the store of value and speed and ease of transfer of funds, especially internationally, will be the catalyst to the growth of the trend to much greater heights, not just because it is cool to use.  Google Glass hasn't caught on yet and that was supposed to be cool and trendy but it is just not that useful and is more of a toy, for one example.

I just think the average Joe is slow on the uptake especially with technology. I'm kind of an oddball in that I like technology and cutting edge stuff (hippie in me coming out maybe-lol).  Don't think 15-25 years is bad if Bitcoin embeds itself and takes a large market share.

How about BitChicks Husband?  Is he older and can tell you stories of woe about the old days? lol

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June 28, 2014, 07:01:31 PM
 #1694

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.
Hopefully in two years they'll say the same about "people who own 1 or more bitcoin"

Will crypto win over fiat?
Is BTC the winning crypto?

As long as the answer to both of these questions is positive, just hold any number above BTC1 and you will be rich, and anything over BTC0.1 will be doing well, anything over BTC0.01 is above average, since the average guys will have BTC0.001 or less.

It does not matter at all how much fiat someone has, until he buys BTC with it, he will have none.

I was just thinking that at some point this logic (that even BTC1 is hugely valuable) should become widely known.  It hasn't crossed that line yet though.  The sentiment still seems to be that it is somewhat risky and highly speculative.

When will the masses see the value in holding 1?  I suppose this "knowledge" will be shown in the adoption rate but there might be a tipping point where it becomes more clearly obvious to a larger number of people. 

That's an interesting question. How long before the fringe elements trend becomes trendy with the masses?

The hippie counterculture movement of the 1960's really started with beatniks in the 1950's. Most historians agree that beatniks officially became hippies in about 1967. LSD was considered their Bitcoin and was supposed to be a tool for transforming society as a whole. As with most things trendy the movement began in and around San Francisco (like Bitcoin - even DPR was captured in SF). Psychedelic rock and the hippie movement really took off with Peoples park, Woodstock and Altamont which all happened in 1969. By 1972-75 all of us were wearing tie die and saying "the MAN got you down well fuck the Man!". By mid 1980's or so Starwood Festival and Burning Man were continuing on the tradition but it was still a fringe group of people and the original hippies were all yuppies and joined mainstream business. In other words, they all became "the MAN".

So mass adoption of a trend because it's cool, let's say, from 1950-1975, 25 years give or take. Did the trend of my generation change the world? Meh, let me just say, I'm still waiting for the Age of Aquarius. lol
Yesterday's cypherpunks were the brightest burning embers of our hippie movement. Bitcoin's mind-expanding properties are now the hipsters drug-of-choice. Today's Libertarians are tomorrow's late-night Pitchmen. The Age of Aquarius may be a long way off, but the dream is still alive.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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June 29, 2014, 08:34:48 PM
 #1695

If bitcoin reaches that amount, there is going to be lot of rich anarchists and libertarians. I imagine that will have interesting political consequences...
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June 29, 2014, 08:37:12 PM
 #1696

This thread has one awesome title and makes me feel pretty proud.
Sorry for doing nothing but bumping it, but really wanted to leave my footprint in this awesome thread.

I am also pretty confident we are the new wealthy elite, gentlemen.

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June 29, 2014, 08:42:15 PM
 #1697

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.
Hopefully in two years they'll say the same about "people who own 1 or more bitcoin"

Will crypto win over fiat?
Is BTC the winning crypto?

As long as the answer to both of these questions is positive, just hold any number above BTC1 and you will be rich, and anything over BTC0.1 will be doing well, anything over BTC0.01 is above average, since the average guys will have BTC0.001 or less.

It does not matter at all how much fiat someone has, until he buys BTC with it, he will have none.

I just crossed the 2 bit coin plateau.  Feeling pretty damn good about it.  Grin

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June 29, 2014, 10:16:21 PM
 #1698

If bitcoin reaches that amount, there is going to be lot of rich anarchists and libertarians. I imagine that will have interesting political consequences...

You are a romantic!
Money corrupts and absolute power corrupts absolutely!

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June 29, 2014, 10:57:19 PM
 #1699

I'm not too sure I would use the words "confident" and "bitcoin" in the same sentence...
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June 29, 2014, 11:08:28 PM
 #1700

I'm not too sure I would use the words "confident" and "bitcoin" in the same sentence...

Welcome to the forum, confidence about Bitcoin tends to grow over time.  Smiley

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