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

[TheLoser]

My elite status got robbed.

[pitham1]

Just bought 3 more BTC for 1k, like a fuckin BOSS

Oi! Showing off is prohibited. stop it!

If you have it, flaunt it.
There were people who felt pretty smug because bitcoin's price "fell" to $500.
They don't look so cool now.

[o0o0]

Just bought 3 more BTC for 1k, like a fuckin BOSS

I want to be a boss too... another 1k in bitcoin added to my coffers .

[CoinCidental]

Just bought 3 more BTC for 1k, like a fuckin BOSS

I want to be a boss too... another 1k in bitcoin added to my coffers .

I've been stocking up at least 3 coins  a week
I hope it goes even lower than now so I can more reserves in my stockpile

[fabiola!]

Just bought 3 more BTC for 1k, like a fuckin BOSS

Oi! Showing off is prohibited. stop it!

If you have it, flaunt it.
There were people who felt pretty smug because bitcoin's price "fell" to $500.
They don't look so cool now.

I don't agree, whats the point of flaunting, making people feel worse about themselves? MEAN!

[CoinCidental]

Just bought 3 more BTC for 1k, like a fuckin BOSS

Oi! Showing off is prohibited. stop it!

If you have it, flaunt it.
There were people who felt pretty smug because bitcoin's price "fell" to $500.
They don't look so cool now.

I don't agree, whats the point of flaunting, making people feel worse about themselves? MEAN!

Now is the time to get in, you think when the reward half's again  your ever going to get Coins this cheap again??

If you don't buy any now, don't complain when they're  over 10,000usd each........

You can lead a horse to water, but I guess you really can't make him drink lol

[KeyJockey]

You can lead a horse to water, but I guess you really can't make him drink lol

Or my favorite variation of that phrase:

"You Can Lead A Whore To Culture, But You Can't Make Her Think"

    

[Erdogan]

You can lead a horse to water, but I guess you really can't make him drink lol

Or my favorite variation of that phrase:

"You Can Lead A Whore To Culture, But You Can't Make Her Think"

    

What is the logic?

[KeyJockey]

What is the logic?

Ummm... err... well, I guess maybe 'cuz we're all gonna be the new wealthy elite ("gentlemen..." LOL) and I suppose some may end up surrounded by hookers & blow, and/or with various other gold-digger, hangers-on types, who are just there for the lulz and the bling...? 

In that case, maybe just remember some of 'em ain't gonna be able to understand the cryptography and mathematical concepts behind bitcoin, so in that case... don't waste your time trying to explain it to them?

Or... naaaaw... no logic really: I actually just thought it was funny 

[fabiola!]

Just bought 3 more BTC for 1k, like a fuckin BOSS

Oi! Showing off is prohibited. stop it!

If you have it, flaunt it.
There were people who felt pretty smug because bitcoin's price "fell" to $500.
They don't look so cool now.

I don't agree, whats the point of flaunting, making people feel worse about themselves? MEAN!

Now is the time to get in, you think when the reward half's again  your ever going to get Coins this cheap again??

If you don't buy any now, don't complain when they're  over 10,000usd each........

You can lead a horse to water, but I guess you really can't make him drink lol

It's good advice, I'm doing the same thing, just please don't show off too much k? x

[o0o0]

Just bought 3 more BTC for 1k, like a fuckin BOSS

Oi! Showing off is prohibited. stop it!

If you have it, flaunt it.
There were people who felt pretty smug because bitcoin's price "fell" to $500.
They don't look so cool now.

I don't agree, whats the point of flaunting, making people feel worse about themselves? MEAN!

Now is the time to get in, you think when the reward half's again  your ever going to get Coins this cheap again??

If you don't buy any now, don't complain when they're  over 10,000usd each........

You can lead a horse to water, but I guess you really can't make him drink lol

It's good advice, I'm doing the same thing, just please don't show off too much k? x

Nothing wrong with pride in ones good work . I'm back to $500 AUD weekly deposits and purchases now... Did the majority of my coin purchases at $379 AUD. Sitting at 122.03 BTC....

Like a mini boss?

[Erdogan]

What is the logic?

Ummm... err... well, I guess maybe 'cuz we're all gonna be the new wealthy elite ("gentlemen..." LOL) and I suppose some may end up surrounded by hookers & blow, and/or with various other gold-digger, hangers-on types, who are just there for the lulz and the bling...? 

In that case, maybe just remember some of 'em ain't gonna be able to understand the cryptography and mathematical concepts behind bitcoin, so in that case... don't waste your time trying to explain it to them?

Or... naaaaw... no logic really: I actually just thought it was funny 

I just thought it was denigrating a group of people. You don't know them all.

[fabiola!]

Just bought 3 more BTC for 1k, like a fuckin BOSS

Oi! Showing off is prohibited. stop it!

If you have it, flaunt it.
There were people who felt pretty smug because bitcoin's price "fell" to $500.
They don't look so cool now.

I don't agree, whats the point of flaunting, making people feel worse about themselves? MEAN!

Now is the time to get in, you think when the reward half's again  your ever going to get Coins this cheap again??

If you don't buy any now, don't complain when they're  over 10,000usd each........

You can lead a horse to water, but I guess you really can't make him drink lol

It's good advice, I'm doing the same thing, just please don't show off too much k? x

Nothing wrong with pride in ones good work . I'm back to $500 AUD weekly deposits and purchases now... Did the majority of my coin purchases at $379 AUD. Sitting at 122.03 BTC....

Like a mini boss?

AUD? If my country' money was made of PLASTIC I would be putting loads into BTC as well! haha. JK, I love Australia, I spent 7 months there last year, missing the lamingtons and tim tams.

[o0o0]

i know plastic means we cant do money oragami . still fiat runs the shops so cant go all in. i believe in bitcoin so stopped at 1/4 total fiat wealth. A little each week should get me a nice overall stake over time. I'm aiming for 200btc. i'd like 1000 btc but i think 200btc is more realistic.

[fabiola!]

i know plastic means we cant do money oragami . still fiat runs the shops so cant go all in. i believe in bitcoin so stopped at 1/4 total fiat wealth. A little each week should get me a nice overall stake over time. I'm aiming for 200btc. i'd like 1000 btc but i think 200btc is more realistic.

That's a lot, well done. I'm a musician so I'll have to wait till my next royalty pay out to go and buy a few more btc. Mining is very slow atm, I'm just getting 1 btc a month I think, terrible! But if I had a "real" job I would be doing the same as you, wages in Ozzieland are so high it's great for you guys.

[Flashman]

Not sure if I said it in this thread yet, but 0.003 is about the fair share of BTC per person on the planet, so 0.3 puts you in the 1%

[Biodom]

Not sure if I said it in this thread yet, but 0.003 is about the fair share of BTC per person on the planet, so 0.3 puts you in the 1%

What you are saying is that top 1% on the planet Earth cannot have more than 0.3 BTC on average, but it does not say what % of their net work will be in bitcoin.
To be in the top 1% in the world, you need ~$780,000 in wealth
If only 5% of their wealth would be in BTC (similar % to gold), it would mean $39000 in BTC per each 1% person.
With 39K=0.3 BTC, it would mean price of BTC of $130000
In other words, for BTC value to be enough to represent just 5% in 1% wealthiest Earth inhabitants portfolio, the value of BTC HAS to reach $130000.

[Cryddit]

I have spent the last three days doing block chain investigation to see where bitcoins have been going.

I can't assign identities to these entities, and this is somewhat hazy and open to interpretation as it depends on the disposition of the Silk road seized coins and some other auctioned coins that have not reappeared on the market.  Also the entities involved appear to be engaged in "buy, hold, and don't consolidate" - deliberately trying to avoid linking their purchased coins.  I'm only about 70% sure that the coins are held by this small set of entities, mainly on the grounds of the purchases being made in a consistent way - similar amounts at repeating times of week in the same marketplaces.  One tipoff was that in months that had large 'closed' auctions these patterns were disrupted; several of the pattern buys disappeared altogether, while others (judging by market and purchase timing) bought more apparently to avoid causing sudden changes in the level of market support.

If I'm right there are at least seven "whales" -- which apparently did not exist one year ago -- that probably have each now got about a half million Bitcoin.   They have been buying steadily for the last seven or so months, except that they bought a larger total in the months with the closed auctions (assuming it was them who got the closed auctions). They are continuing to buy very steady amounts in $US dollar terms, as the price starts to rally and the amounts of their purchases in Bitcoin start getting lower.

Holy crap that's an awe-inspiring amount of money.   But the "noise" of individual and chaotic transactions has been declining relative to these very regular clockwork transactions, and the market has changed character so that it is now increasingly *about* these semi-regular transactions - which appear in the market as flocks of buy orders spread over the course of hours or a day.  And when the noise of chaotic transactions did spike with the "bearwhale" incident last month, the patterns were disrupted as these new whales apparently sunk about 2.5 million extra into the market over the following three days.

Someone has been stuffing price stability down our throats whether we want it or not.

I could be wrong about this; I might be seeing something that doesn't mean what I think it means.  And I don't know who's doing it.  If this were two years ago, or even one, I'd say someone is getting ready to do a massive pump.  But whoever this is, they're playing a very large, long-term game - too large to NOT be in the direct eye of regulators - and I don't know whether they intend to cause a massive price spike followed by a dump and risk of jail time for market manipulation, or support a slow steady gain followed by a very carefully structured sell-out that will allow them the two or three years they'd need  to reach minimum safe distance (from prosecution) before the market is unsupported. 

[o0o0]

i know plastic means we cant do money oragami . still fiat runs the shops so cant go all in. i believe in bitcoin so stopped at 1/4 total fiat wealth. A little each week should get me a nice overall stake over time. I'm aiming for 200btc. i'd like 1000 btc but i think 200btc is more realistic.

That's a lot, well done. I'm a musician so I'll have to wait till my next royalty pay out to go and buy a few more btc. Mining is very slow atm, I'm just getting 1 btc a month I think, terrible! But if I had a "real" job I would be doing the same as you, wages in Ozzieland are so high it's great for you guys.

Wages aren't that high it depends on the job. The average wage i think is $74,000 AUD but what they don't tell you is the big earners in mining etc pull the average up alot. Most people i know are in the $50,000 a year range and thats AUD or $46,930 USD... however the housing market isn't that fun price wise. Where i am due to mining a house was $700 a week at one stage. When i lived in brisbane a 2 bedroom apartment was $380 a week. So out of $50k a year thats $20k gone in rent. Add in tax and food etc and i realise others struggle more but its not that fantastic. Mine wage is slightly above the $74k average and as i have no children, wife etc i do have some play money for investments.

Bitcoin just happens to be the first one i really believe in. I missed the boat on facebook shares... when they first floated at $30 or so i said over costed... they dropped to $17 and i didn't buy... they are what $74 now? $80 at one stage.... idiot i was.

Apple shares when they were $300 i saw the potential... they went to $700 something did i buy when i believed? no.... idiot i was again

Global financial crisis i should of went all in on commonwealth bank shares... those were $28... what are they now or rather 2 years after that? $82... idiot i was again

Not letting that happen again. I'm following my gut instincts and not losing out again. At the same time though i am quite happy to lose everything that i set aside for it. Fortunes favor the bold.

Best thing i think you can do is set aside a weekly amount you won't miss and just keep buying. I do some faucets on the side that whilst yes you get bugger all if i'm gaming or doing computer stuff in my own time i can once an hour spend 10 seconds of my life to type a captcha. I don't do them all as i find alot completely useless... personally i only use btc25.net, freebitco.in and moonbit.co.in . They do good satoshi rates compared to others without having to watch ads etc. Its easy and the return is nice enough. I'm using some of what i get there to pass to friends for free to encourage them to use it.

I think everyone should kick a faucet off as a start and use the meager income to promote to others. If you get friends trying decent faucets like i listed they get a taste of btc cause everyone likes free... it gives them a playground to trial it. Once they see its usefulness and freedom they usually want to buy more as faucets can't satisfy their needs past that.

[o0o0]

Not sure if I said it in this thread yet, but 0.003 is about the fair share of BTC per person on the planet, so 0.3 puts you in the 1%

What you are saying is that top 1% on the planet Earth cannot have more than 0.3 BTC on average, but it does not say what % of their net work will be in bitcoin.
To be in the top 1% in the world, you need ~$780,000 in wealth
If only 5% of their wealth would be in BTC (similar % to gold), it would mean $39000 in BTC per each 1% person.
With 39K=0.3 BTC, it would mean price of BTC of $130000
In other words, for BTC value to be enough to represent just 5% in 1% wealthiest Earth inhabitants portfolio, the value of BTC HAS to reach $130000.

These projections seem to me to be way too unrealistic anyway. I doubt even 100% of people have fiat. Some probably lick in mud huts bartering goats and crops in some countries right? So how can 100% BTC adoption be assumed. Wouldn't the entire financial system have to crumble and be worthless before this could happen anyway? I tend to think that BTC would exist beside fiat long term and i think it would be more realistic to assume 10-30% worldwide adoption... even 10% i think would be a more realistic goal. So shouldn't projections on max BTC amount be done on 10% of the population that currently holds fiat?

I love BTC but i think alot of the hype and negativity is done with unrealistic calculations.