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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 508186 times)
JayJuanGee
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Put BTC here: 1GSwznUNG4co5rS3ctmRgtYGcWiHAnwAyj


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September 26, 2014, 10:52:32 AM
 #1901

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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boumalo
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September 26, 2014, 12:32:05 PM
 #1902

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
 #1903

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.

KeyJockey
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September 26, 2014, 02:40:43 PM
 #1904


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
boumalo
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September 26, 2014, 03:10:25 PM
 #1905


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

polynesia
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September 26, 2014, 03:14:14 PM
 #1906


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

chopstick
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September 26, 2014, 04:26:06 PM
 #1907

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.
Bitcoin Magazine
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September 26, 2014, 04:27:31 PM
 #1908

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.
boumalo
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September 26, 2014, 06:09:11 PM
 #1909

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

You will need to pay taxes on your house if you have one, on your salary  and you may not be able to buy everything under the radar with BTC

If you have a bitcointalk account that you access from home without Tor or a VPN you will need to pay a lot of taxes on your bitcoin holdings since it will be obvious you have some

allthingsluxury
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September 26, 2014, 06:14:18 PM
 #1910

This thread is here for life! lol it just keeps coming back Smiley

KeyJockey
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September 26, 2014, 09:23:18 PM
 #1911

Or you may be left holding fiat when bitcoin's price breaks out suddenly.  Grin


Ha... nope, I'm aware of that risk.

Before I'd ever SEND any bitcoin to someone (like if they're buying from me) I'd first BUY the same amount.

Then IF the buy didn't go thru for any reason (i.e. like maybe sometimes it's not available at locked-in price, on-exchange?) I wouldn't complete the sale.

That way, my BTC pile would never go down, and the only risk exposure would be if the exchange's locked-in price on that particular purchase didn't come thru for any reason (and, yes, it's a low risk if you're using a reliable trusted exchange source but still, THAT risk means I'd never sell out ALL the BTC I hold!!!  Only a portion of it at any one time would be allowed to be "pending" delivery, and the larger portion would always remain securely socked away in long-term cold storage... NOT to be TOUCHED at all!)

Honestly, I'd probably even put that BTC into a cold wallet that only my wife and my attorney knew the password to, so I wouldn't ever be tempted to dip into it myself, LOL... and hopefully my wife wouldn't divorce me and run off with my attorney.
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September 26, 2014, 09:29:07 PM
 #1912

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,
Yes, I'd say that's quite possible, there are a few exchanges make good candidates for this.
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September 26, 2014, 09:42:40 PM
 #1913

The time is coming...

We are only 3-6 months away from the next massive spike... and it will exceed all of your wildest dreams.
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September 26, 2014, 10:49:20 PM
 #1914

The time is coming...

We are only 3-6 months away from the next massive spike... and it will exceed all of your wildest dreams.

Is this a fortune cookie?
bitcoinbelieve
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September 26, 2014, 11:01:36 PM
 #1915

The time is coming...

We are only 3-6 months away from the next massive spike... and it will exceed all of your wildest dreams.

tell us more Roll Eyes
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September 26, 2014, 11:12:54 PM
 #1916

Pretty cool to look back at these 2011 posts... where people predicted a 100$ BTC... and look now a couple years later, on the right trend IMO

MEGA BULL RIGHT HERE (Grip strength of a thousand Silver Back Gorillas)

Working on decentralised economic solutions to feed the hungry and build a sustainable future, the blockchain is a key component. If you are an economist or engineer feel free to message me! Help is always needed Smiley
chopstick
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September 27, 2014, 12:06:22 AM
 #1917

The time is coming...

We are only 3-6 months away from the next massive spike... and it will exceed all of your wildest dreams.

Is this a fortune cookie?

Haha, it should be.

Imagine getting a fortune cookie that read "You will get rich off bitcoins."
chopstick
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September 27, 2014, 12:08:01 AM
 #1918

The time is coming...

We are only 3-6 months away from the next massive spike... and it will exceed all of your wildest dreams.

tell us more Roll Eyes

What is there to tell? Obviously you should be working on stocking up as many BTC as possible.

Either you believe or you don't Smiley
BlindMayorBitcorn
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September 27, 2014, 12:19:05 AM
 #1919

The time is coming...

We are only 3-6 months away from the next massive spike... and it will exceed all of your wildest dreams.

tell us more Roll Eyes

What is there to tell? Obviously you should be working on stocking up as many BTC as possible.

Either you believe or you don't Smiley

I will be stocking up at $300 thank you very much Wink

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 27, 2014, 12:35:22 AM
 #1920

The time is coming...

We are only 3-6 months away from the next massive spike... and it will exceed all of your wildest dreams.

tell us more Roll Eyes

What is there to tell? Obviously you should be working on stocking up as many BTC as possible.

Either you believe or you don't Smiley

That is exactly what I have been telling everyone who will listen.   If you believe at all in the future of BTC, then you should be stockpiling as much BTC as you can afford right now.

If you are into gambling, it would also be a good time to gamble with BTC, because you can buy it so cheaply, and try to exponentially increase your holdings.
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