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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 589580 times)
boumalo
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September 19, 2014, 12:04:23 PM
 #1801

HODL you fools!

Or buy in as much as possible if you can. Preferably..

This thread will be funny to view when the price hits 10K+. Which it will, I think in about 5-6 months. Let's see if I was correct later on.

Makes me think of this post : https://bitcointalk.org/index.php?topic=642807.new#new and it seemed obvious 540$ was a great price to buy, now it is 400$-ish and in a few months it may indeed seemed like a huge buying opportunity that will not come back

Once miners shut down the security of the network is at stake. This is not going to be pretty

All miners will not shut down and the price will go up again

HODL you fools!

Or buy in as much as possible if you can. Preferably..

This thread will be funny to view when the price hits 10K+. Which it will, I think in about 5-6 months. Let's see if I was correct later on.

Makes me think of this post : https://bitcointalk.org/index.php?topic=642807.new#new and it seemed obvious 540$ was a great price to buy, now it is 400$-ish and in a few months it may indeed seemed like a huge buying opportunity that will not come back

Once miners shut down the security of the network is at stake. This is not going to be pretty

In fact they must be operating at a loss this morning. I guess the Chinese will take over from here?
Yup supply will decrease soon enough.  But I suspect this sell-off is caused by retailers and not traders

Traders play a role, they see the price going down and sell to buy back cheaper; it will bounce agressively

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BitcoinFX
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September 19, 2014, 12:40:10 PM
 #1802

http://sourceforge.net/p/bitcoin/mailman/message/21312757/

Quote
... Satoshi Nakamoto writes:
> Announcing the first release of Bitcoin, a new electronic cash
> system that uses a peer-to-peer network to prevent double-spending.
> It's completely decentralized with no server or central authority.
>
> See bitcoin.org for screenshots.
>
> Download link:
> [Link Removed]

Congratulations to Satoshi on this first alpha release.  I am looking
forward to trying it out.

> Total circulation will be 21,000,000 coins.  It'll be distributed
> to network nodes when they make blocks, with the amount cut in half
> every 4 years.
>
> first 4 years: 10,500,000 coins
> next 4 years: 5,250,000 coins
> next 4 years: 2,625,000 coins
> next 4 years: 1,312,500 coins
> etc...

It's interesting that the system can be configured to only allow a
certain maximum number of coins ever to be generated. I guess the
idea is that the amount of work needed to generate a new coin will
become more difficult as time goes on.

One immediate problem with any new currency is how to value it. Even
ignoring the practical problem that virtually no one will accept it
at first, there is still a difficulty in coming up with a reasonable
argument in favor of a particular non-zero value for the coins.

As an amusing thought experiment, imagine that Bitcoin is successful and
becomes the dominant payment system in use throughout the world.  Then the
total value of the currency should be equal to the total value of all
the wealth in the world. Current estimates of total worldwide household
wealth that I have found range from $100 trillion to $300 trillion. With
20 million coins, that gives each coin a value of about $10 million.

So the possibility of generating coins today with a few cents of compute
time may be quite a good bet, with a payoff of something like 100 million
to 1! Even if the odds of Bitcoin succeeding to this degree are slim,
are they really 100 million to one against? Something to think about...

Hal ...

We should all pay attention to Hal - Don't stop believing ! Actually don't just think about it, make it a reality.

*Sings* https://www.youtube.com/watch?v=A7TuFy0fcuw

Lots more Bitcoins to go into circulation yet, after that its likely to get really interesting.  Cheesy

#Futurist

"The industry of the integrated spectacle and immaterial command owes me money." - We do not Forgive. We do not Forget. Expect Revolution! for we are all Satoshi now? - youtu.be/G7Z8MMk45U0 - "the multiple and the multiplex!" - Don't Cry! Support : https://tornull.org - #freeBogatov
inibapaknak
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September 19, 2014, 01:00:46 PM
 #1803

i really want to build a mosque with my father and my mother's name  Grin
Beliathon
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September 19, 2014, 01:07:57 PM
 #1804

LOL I had never seen that before. Anyway, here's some perspective from a life savings divestor from FIAT:


Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
BitcoinFX
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September 19, 2014, 01:33:31 PM
 #1805

LOL I had never seen that before. Anyway, here's some perspective from a life savings divestor from FIAT:



This is perhaps the better choice of song for this thread...

*Sings* https://www.youtube.com/watch?v=K2ku1A5Ox8U

Correction / Adjustment   Roll Eyes   Cool

"The industry of the integrated spectacle and immaterial command owes me money." - We do not Forgive. We do not Forget. Expect Revolution! for we are all Satoshi now? - youtu.be/G7Z8MMk45U0 - "the multiple and the multiplex!" - Don't Cry! Support : https://tornull.org - #freeBogatov
bitcool
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Live and enjoy experiments


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September 19, 2014, 01:49:06 PM
 #1806

This is perhaps the better choice of song for this thread...

*Sings* https://www.youtube.com/watch?v=K2ku1A5Ox8U

Correction / Adjustment   Roll Eyes   Cool
Have to say that's a beautiful voice, thanks for the find.
QuestionAuthority
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You lead and I'll watch you walk away.


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September 19, 2014, 03:41:25 PM
 #1807

Our wealth seems to be diminishing daily. What the hell is going on?

Campsis
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WW3


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September 19, 2014, 03:53:13 PM
 #1808

Our wealth seems to be diminishing daily. What the hell is going on?

Dunno, just sold 2 BTC... hopefull i wont regret it

BitChick
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September 19, 2014, 04:54:39 PM
 #1809

Our wealth seems to be diminishing daily. What the hell is going on?

Dunno, just sold 2 BTC... hopefull i wont regret it

Selling BTC can often lead to regrets.  The price is really low right now too.   Undecided

1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
pikabit
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September 19, 2014, 05:47:51 PM
 #1810

I will be wealthy as fuck some day with my btc  Cool
cdog
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September 19, 2014, 06:20:20 PM
 #1811

Our wealth seems to be diminishing daily. What the hell is going on?

How, are you losing your coins? Dont really care about the USD value so much as seeing more places/ways to use BTC.

Dollars are great for spending, and at these prices my "wealth" is increasing as I buy more coins. Saving dollars seems pointless to me, have you looked at interest rates lately?

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QuestionAuthority
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September 20, 2014, 12:22:33 AM
 #1812

Our wealth seems to be diminishing daily. What the hell is going on?

How, are you losing your coins? Dont really care about the USD value so much as seeing more places/ways to use BTC.

Dollars are great for spending, and at these prices my "wealth" is increasing as I buy more coins. Saving dollars seems pointless to me, have you looked at interest rates lately?

I like to pay one of my mortgages with Bitcoin and Chase doesn't take Bitcoin.

mercistheman
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September 20, 2014, 01:47:30 AM
 #1813

No doubt about it I'm buying at these prices... chicken littles go home and whine to your mama... we got a future to look forward to.
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September 20, 2014, 01:53:14 AM
 #1814

good tiem to buy cheap coins :DDDDDDDDD

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September 20, 2014, 02:13:39 AM
 #1815

good tiem to buy cheap coins :DDDDDDDDD

Early adopter?

No, anyone that believes in bitcoin should be pulling out their wallets and buying all that they can afford.   If you believe in the future of bitcoin, you basically have been granted an opportunity to buy at prices pre-November 2013.   It is like bitcoin hot tub time machine today...

I think a lot of people are going to be looking back at this week as a missed opportunity.   I definitely picked some up.   If we drop further, I will get some more.
cbeast
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Let's talk governance, lipstick, and pigs.


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September 20, 2014, 02:40:58 AM
 #1816

No doubt about it I'm buying at these prices... chicken littles go home and whine to your mama... we got a future to look forward to.

Didn't somebody just finish dumping almost a billion dollars in bitcoins? I'm pretty confident the new wealthy elite are back in fiat Undecided
It's called wealth distribution. That person will never be able to get those cheap coins back, thus allowing others to enjoy the next bubble and become the next ones to dump a billion dollars. This pattern will continue on and on. That is the the phenomenon of Bitcoin as a store of wealth.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
blue eyes
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September 20, 2014, 02:43:44 AM
 #1817

To think that not so long ago I was paid 50 BTC for two hours of work.

really?what kind of job did you do? good salary.
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September 20, 2014, 02:53:40 AM
 #1818

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?

i will definitely buy an apartment, a car and travel around the world...
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September 20, 2014, 03:26:07 AM
 #1819

Need advice !

This question is more directed to the bitcoin miners. I have been Bit-coining for about 8 months now and I really enjoy doing it. The only problem is I'm not making any profit, long story short I have spent around $1500 and only made $ 500.00/ I have 4 miners pumping out 450 gh, and on a good day I might make .01 bt which means I will most likely never see a profit with my current set up... So here are my questions;

1) Is bit coin mining dead ?, should I though in the towel.
2) If it is not dead, should I buy a really big bitcoin miner $2000.00+, or lots of smaller ones ?.
3) What should I buy next and where should I buy them ?.

Thanks for the advice.
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September 20, 2014, 03:41:18 AM
 #1820

That's a cool way to introduce, I like it Cool Cool

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