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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 609315 times)
BlindMayorBitcorn
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September 26, 2014, 12:35:39 AM
 #1881

10K+ per coin next year IMO

That's absurd Roll Eyes

HELLO?  Get a grip?  What is absurd about $10k in a year-ish, explain yourself...

Do you understand BTC fundamentals and market cap, or you just spouting off various troll talking points? 

$10k-ish seem as likely as, if NOT more likely than your suggestion of an never ending downward projection leading us to $100-ish.

That's always been my biggest problem with this thread: people treating bitcoins like lottery tickets. Lambo anyone?

Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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jbreher
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September 26, 2014, 12:50:21 AM
 #1882

That's always been my biggest problem with this thread: people treating bitcoins like lottery tickets. Lambo anyone?

But there are numbers behind it. What percentage of the world currently holds bitcoins? Some trivially small amount. But despite the slow decline in price this year, massive gains in usability have been brought to the ecosystem.

Is it fantasy to think that perhaps 25 times more people are using Bitcoin this time next year? And that they would each want to have at least a measurable amount? I don't think so.

This time a year ago, $400 looked ludicrously high to many.

May not happen in a year. But it may. Year, schmear. The long term looks _very_ attractive, from my vantage point.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
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September 26, 2014, 01:00:12 AM
 #1883

10K+ per coin next year IMO

That's absurd Roll Eyes

HELLO?  Get a grip?  What is absurd about $10k in a year-ish, explain yourself...

Do you understand BTC fundamentals and market cap, or you just spouting off various troll talking points? 

$10k-ish seem as likely as, if NOT more likely than your suggestion of an never ending downward projection leading us to $100-ish.

That's always been my biggest problem with this thread: people treating bitcoins like lottery tickets. Lambo anyone?

Some people may treat bitcoins like lottery tickets; however, that is likely the exception rather than the rule... lottery tickets are much different from bitcoins, so that practice is NOT a very apt analogy b/c it oversimplifies the totality of bitcoins into one of its arguable parts. 

BlindMayorBitcorn
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September 26, 2014, 01:19:50 AM
 #1884

10K+ per coin next year IMO

That's absurd Roll Eyes

HELLO?  Get a grip?  What is absurd about $10k in a year-ish, explain yourself...

Do you understand BTC fundamentals and market cap, or you just spouting off various troll talking points? 

$10k-ish seem as likely as, if NOT more likely than your suggestion of an never ending downward projection leading us to $100-ish.

That's always been my biggest problem with this thread: people treating bitcoins like lottery tickets. Lambo anyone?

Some people may treat bitcoins like lottery tickets; however, that is likely the exception rather than the rule... lottery tickets are much different from bitcoins, so that practice is NOT a very apt analogy b/c it oversimplifies the totality of bitcoins into one of its arguable parts. 

Well, I don't see it being used as a store of value by anyone with an aversion to losing lots of it overnight..

Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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September 26, 2014, 03:12:35 AM
 #1885

10K+ per coin next year IMO

That's absurd Roll Eyes

HELLO?  Get a grip?  What is absurd about $10k in a year-ish, explain yourself...

Do you understand BTC fundamentals and market cap, or you just spouting off various troll talking points? 

$10k-ish seem as likely as, if NOT more likely than your suggestion of an never ending downward projection leading us to $100-ish.

That's always been my biggest problem with this thread: people treating bitcoins like lottery tickets. Lambo anyone?

Some people may treat bitcoins like lottery tickets; however, that is likely the exception rather than the rule... lottery tickets are much different from bitcoins, so that practice is NOT a very apt analogy b/c it oversimplifies the totality of bitcoins into one of its arguable parts. 

Well, I don't see it being used as a store of value by anyone with an aversion to losing lots of it overnight..


You are over generalizing, and even inaccurately so.

Of course BTC is being used as a storage of value by a variety of people, and that storage of value of BTC may be only one portion of a variety of people's investment portfolio in order to hedge against the dollar, for example or to hedge against some other currency or asset classes. 

The proportion of a person's investment portfolio invested in BTC as a storage of value is going to vary from person to person depending upon a large variety of factors including but not  limited to: risk aversion, time-line, personal view of probabilities for various up or down BTC performance scenarios, personal inclination to act on views of the world, quantity of other financial assets, distribution of other financial assets, view of other uses of BTC (besides storage of value), etc.

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Get ready for PrimeDice Sig Campaign!


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September 26, 2014, 03:21:24 AM
 #1886

When bitcoin hits 10 thousand, bitcoin will be used almost everywhere, so I will use it as regular money, and not convert it to cash. Hopefully even pay my bills with bitcoin.

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beitris.dwlul
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September 26, 2014, 03:29:16 AM
 #1887

hope we are  Smiley

qq520
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September 26, 2014, 04:20:20 AM
 #1888

no doubt!

i love btc.
JayJuanGee
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September 26, 2014, 04:22:59 AM
 #1889

When bitcoin hits 10 thousand, bitcoin will be used almost everywhere, so I will use it as regular money, and not convert it to cash. Hopefully even pay my bills with bitcoin.

Personally, I am of the opinion that currently the BTC infrastructure is well capable of $10k per BTC... think about it... if BTC were $1k per coin (which it has been in the last year) then the market cap is $14 billion, and if BTC is $10k, then the market cap would be $140 billion - which is NOT a lot in terms of an asset class and/or currency that serves a variety of functions including the storage and transfer of value, and BTC need not be widely adopted in order to achieve and maintain a $140 billion dollar market cap.  NONETHELESS, likely the first trip to $10k BTC is NOT going to hold, and there will remain some volatility.

Now, on the other hand, probably, the BTC infrastructure is NOT quite yet ready for a $1.4 trillion market cap (that would be $100k per coin).. Accordingly, maybe 3-5 years or longer will be necessary to continue to develop the bitcoin infrastructure in that $1.4 trillion dollar market cap direction, and possibly $1.4 trillion as a market cap would bring considerably greater adoption to BTC; however, even $1.4 trillion in today's dollars is only about 20% the market cap of gold.... far from establishing a pervasive world-wide phenomenon.

JayJuanGee
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September 26, 2014, 10:28:57 AM
 #1890

When bitcoin hits 10 thousand, bitcoin will be used almost everywhere, so I will use it as regular money, and not convert it to cash. Hopefully even pay my bills with bitcoin.

Personally, I am of the opinion that currently the BTC infrastructure is well capable of $10k per BTC... think about it... if BTC were $1k per coin (which it has been in the last year) then the market cap is $14 billion, and if BTC is $10k, then the market cap would be $140 billion - which is NOT a lot in terms of an asset class and/or currency that serves a variety of functions including the storage and transfer of value, and BTC need not be widely adopted in order to achieve and maintain a $140 billion dollar market cap.  NONETHELESS, likely the first trip to $10k BTC is NOT going to hold, and there will remain some volatility.

Now, on the other hand, probably, the BTC infrastructure is NOT quite yet ready for a $1.4 trillion market cap (that would be $100k per coin).. Accordingly, maybe 3-5 years or longer will be necessary to continue to develop the bitcoin infrastructure in that $1.4 trillion dollar market cap direction, and possibly $1.4 trillion as a market cap would bring considerably greater adoption to BTC; however, even $1.4 trillion in today's dollars is only about 20% the market cap of gold.... far from establishing a pervasive world-wide phenomenon.

...as it continues to bleed value. Hmmm.

You are bleeding value from this thread, BlindMayorBitcorn, because you are NOT really saying anything substantively, but instead just picking holes and probing for BTC flaws... but let me entertain you, briefly.

More or less, BTC prices have been bleeding value for nearly the past 10 months; however, the last 10 months of BTC is NOT the totality of BTC's prices NOR the totality of BTC's history NOR the totality of BTC's building of fundamentals.. though there have been a lot of BTC fundamentals built within the last 10 months, including network, merchants, liquidation opportunities, ATMs, government regulations (some acceptance), increased world wide adoption, increased public awareness, etc.  Accordingly, you need to consider BTC future value and price beyond its mere price today.





Bitcoinpro
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September 26, 2014, 10:32:58 AM
 #1891

the surge when it hits will be quite substantial their is many other factors at play though, the primary one at this stage though will be exchange collapses,

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JayJuanGee
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September 26, 2014, 10:50:31 AM
 #1892

the surge when it hits will be quite substantial their is many other factors at play though, the primary one at this stage though will be exchange collapses,

Your use of the term "surge" and "exchange collapses" in the same sentence is confusing.

The term surge is generally used to describe a positive direction in BTC prices; however, I would imagine that Exchange collapses would cause downward pressures upon BTC prices, especially if there has been fractional reserve type shenanigans or stealing and/or disappearance of large quantities of coins.

Surely, it is NOT inevitable that in the near term future that any large exchange will collapse and/or include BTC shenanigans..   Do you have further info?

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September 26, 2014, 10:52:32 AM
 #1893

When bitcoin hits 10 thousand, bitcoin will be used almost everywhere, so I will use it as regular money, and not convert it to cash. Hopefully even pay my bills with bitcoin.

Personally, I am of the opinion that currently the BTC infrastructure is well capable of $10k per BTC... think about it... if BTC were $1k per coin (which it has been in the last year) then the market cap is $14 billion, and if BTC is $10k, then the market cap would be $140 billion - which is NOT a lot in terms of an asset class and/or currency that serves a variety of functions including the storage and transfer of value, and BTC need not be widely adopted in order to achieve and maintain a $140 billion dollar market cap.  NONETHELESS, likely the first trip to $10k BTC is NOT going to hold, and there will remain some volatility.

Now, on the other hand, probably, the BTC infrastructure is NOT quite yet ready for a $1.4 trillion market cap (that would be $100k per coin).. Accordingly, maybe 3-5 years or longer will be necessary to continue to develop the bitcoin infrastructure in that $1.4 trillion dollar market cap direction, and possibly $1.4 trillion as a market cap would bring considerably greater adoption to BTC; however, even $1.4 trillion in today's dollars is only about 20% the market cap of gold.... far from establishing a pervasive world-wide phenomenon.

...as it continues to bleed value. Hmmm.

You are bleeding value from this thread, BlindMayorBitcorn, because you are NOT really saying anything substantively, but instead just picking holes and probing for BTC flaws... but let me entertain you, briefly.

More or less, BTC prices have been bleeding value for nearly the past 10 months; however, the last 10 months of BTC is NOT the totality of BTC's prices NOR the totality of BTC's history NOR the totality of BTC's building of fundamentals.. though there have been a lot of BTC fundamentals built within the last 10 months, including network, merchants, liquidation opportunities, ATMs, government regulations (some acceptance), increased world wide adoption, increased public awareness, etc.  Accordingly, you need to consider BTC future value and price beyond its mere price today.






Ok I can see where I'm not welcome. Picking holes and probing for flaws is not cool around these parts. Well enjoy your Lambos then I'm sure. And pity the kids who bought in at $650.


Ok.. bye bye..

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September 26, 2014, 12:32:05 PM
 #1894

When bitcoin hits 10 thousand, bitcoin will be used almost everywhere, so I will use it as regular money, and not convert it to cash. Hopefully even pay my bills with bitcoin.

It is a theory, it could go up to 10,000$ or close without Bitcoin being used everywhere and you may want to diversify your holdings by buying other asset classes if you have most your wealth in Bitcoin

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September 26, 2014, 12:38:01 PM
 #1895

When bitcoin hits 10 thousand, bitcoin will be used almost everywhere, so I will use it as regular money, and not convert it to cash. Hopefully even pay my bills with bitcoin.

It is a theory, it could go up to 10,000$ or close without Bitcoin being used everywhere and you may want to diversify your holdings by buying other asset classes if you have most your wealth in Bitcoin

If Bitcoin is used "almost everywhere" it will be and order of magnitude above $10k at the bare minimum.

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September 26, 2014, 02:40:43 PM
 #1896


The original poster IS correct that trading a little btc person to person for cash from time to time actually does seem to be a decent way to make a little profit from holding bitcoin and being involved in the "BTC Scene" these days... especially as the price has been dipping last few months and we're all WAITING for the next big run-up to finally get started.


It is a process.
Patience is a virtue, friend.


Oh... I know, segvec!  And believe me I'M PATIENT. 
I'm gonna hang on to this wild ride all the way down if need be (and then: all the way UP again!!)

But, y'know... trading a little bitcoin for cash in the meantime isn't necessarily just for the fiat money.

The money you make can also be used to... BUY MORE BITCOIN!!!  Grin Grin Grin

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boumalo
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September 26, 2014, 03:10:25 PM
 #1897


The original poster IS correct that trading a little btc person to person for cash from time to time actually does seem to be a decent way to make a little profit from holding bitcoin and being involved in the "BTC Scene" these days... especially as the price has been dipping last few months and we're all WAITING for the next big run-up to finally get started.


It is a process.
Patience is a virtue, friend.


Oh... I know, segvec!  And believe me I'M PATIENT. 
I'm gonna hang on to this wild ride all the way down if need be (and then: all the way UP again!!)

But, y'know... trading a little bitcoin for cash in the meantime isn't necessarily just for the fiat money.

The money you make can also be used to... BUY MORE BITCOIN!!!  Grin Grin Grin

You have a liability by trading bitcoin in person though

"we're all WAITING for the next big run-up to finally get started." : We already started with a price at 400$ today and a price which was more than 1000$ 10months ago! But see what you mean Wink

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September 26, 2014, 03:14:14 PM
 #1898


The original poster IS correct that trading a little btc person to person for cash from time to time actually does seem to be a decent way to make a little profit from holding bitcoin and being involved in the "BTC Scene" these days... especially as the price has been dipping last few months and we're all WAITING for the next big run-up to finally get started.


It is a process.
Patience is a virtue, friend.


Oh... I know, segvec!  And believe me I'M PATIENT. 
I'm gonna hang on to this wild ride all the way down if need be (and then: all the way UP again!!)

But, y'know... trading a little bitcoin for cash in the meantime isn't necessarily just for the fiat money.

The money you make can also be used to... BUY MORE BITCOIN!!!  Grin Grin Grin

Or you may be left holding fiat when bitcoin's price breaks out suddenly.  Grin
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September 26, 2014, 04:26:06 PM
 #1899

Personally I buy more BTC with as much of my profit as possible. BTC is gonna be at 10K+ per coin in the future, it would be suicide not too.
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September 26, 2014, 04:27:31 PM
 #1900

When bitcoin hits 10 thousand, bitcoin will be used almost everywhere, so I will use it as regular money, and not convert it to cash. Hopefully even pay my bills with bitcoin.

same here.  personally i will use it exclusively and not pay taxes here

i am here.
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