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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 587667 times)
fabiola!
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December 14, 2014, 11:42:03 PM
 #2281

I didn't know we are allowed to post threads anonymously. How do I do that?

You have to get banned.

Lol I wonder why he got banned

He was banned because he kept posting threads showing the romantic blue mood lighting in his room. lol

I think he committed suicide yes ? The last I recall was everyone here cheering him on to do it.... lol  I was just thinking about him the other day ( not sexually ) .

Cheering him on to do it? Not sexually? I must have missed a really interesting few years

He's joking obvs, if not I'm really disappointed that you guys would cheer someone to kill himself, are u serious?


I have not heard that part before. As far as I know there was never an incident when people at this forum were 'cheering' for a suicide.
FYI: Atlas was an "Uber-troll", and he was a pretty good one some of the time.

Glad to hear that Smiley

Smiley
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JayJuanGee
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December 15, 2014, 12:06:07 AM
 #2282

If you wanna do a real gold<>btc comparison, in terms of rarity 1 BTC = about 10 Kilograms of gold, do people buy gold in Kg? Hell no, ounces, and there's about 322 352.74 of them in 10 kilograms. Even at a bottom of ~$1000 an oz, that's $322,000 $352,740.

Ahhhh, you might say, but gold is also a commodity... well BTC is becoming one. As the blockchain is going to become used for smart contracts, etherium like programmability, bitcoins are being consumed by proof of burn to envalue tokens to use with these.

FTFY  -  Personally, I am NOT sure about whether the value of gold is a reliable comparison point for the valuation of BTC because BTC has so many other uses, beyond the uses of gold, but then again BTC has a variety of vulnerabilities too - including the fact that a variety of entities seem to want to sabotage BTC or to steal from it through very new and modern technological methods (though similar things have been happening with gold from a bit of a different angle). 

$352,740 per BTC would put market cap over $5 trillion, and surely that seems to be within reasonable levels of contemplation if BTC were to near the equivalent valuation of gold - depending on the level of competitiveness of various substitute value storage mechanisms.... including alt coins.

I am NOT going to hold my breath for $352,740 per BTC, but I might hold my breath for some smaller fraction of a price - maybe $3,527.40 per BTC within the next 1 month to 1 year (yes, since I am NOT a bot, I admit that I cannot hold my breath, even that long). Tongue Tongue

Flashman
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December 15, 2014, 12:12:19 AM
 #2283

Thanks for the correction, but you should have been correcting me on failing to mention that I used the troy ounce, which is standard for gold weight, which is about 10% bigger than a standard imperial ounce.

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JayJuanGee
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December 15, 2014, 04:16:48 AM
 #2284

Thanks for the correction, but you should have been correcting me on failing to mention that I used the troy ounce, which is standard for gold weight, which is about 10% bigger than a standard imperial ounce.


Hehehehehehehe... I don't know any of those kinds of technicalities....  Wink Wink Cheesy

wadili89
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December 15, 2014, 06:58:39 AM
 #2285

Why is the OP Anonymous? The account got banned and deleted?

Yes, it's been explained about 50 times in this thread! The OP was a disturbed 16-17 year old boy from Texas. He was one of those depressed type kids that probably had a bad family situation. He claimed he was a nihilist (probably because of a bad living situation) and bombed the forum with his tales of woe. His first nick here was Atlas. He would go to the SomethingAwful forum too, spout the same crap he did here and was publicly humiliated on that forum multiple times. He kept getting banned and coming back as a different character but was easy to spot because there was one common depressing theme to all of his posts. His depression finally caught up to him when he threatened to commit suicide. Shortly after that he was permanently IP banned. His posting name is now labeled Anonymous because he's no longer a member of this forum.

Sounds rough. Thanks for explaining again, from your response it seems like you have done it earlier.
Possum577
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December 15, 2014, 07:17:38 AM
 #2286

People forget the numbers.  If everyone in New York state wanted to buy one bitcoin, they could not.  This is a world wide phenomenon and if this hyper-bitcoinization event does occur, it will be of epic proportions.

Go vertical baby....2017!     Cool

This is a really simple and powerful point. I may start thinking differently about the future of this thing.

turvarya
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December 15, 2014, 07:57:46 AM
 #2287

Thanks for the correction, but you should have been correcting me on failing to mention that I used the troy ounce, which is standard for gold weight, which is about 10% bigger than a standard imperial ounce.
Why can't we just use the metric system all along?
I mean seriously? When someone says "ounce", you can't even be sure, about which ounce he is talking about?

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December 15, 2014, 08:10:23 AM
 #2288

Thanks for the correction, but you should have been correcting me on failing to mention that I used the troy ounce, which is standard for gold weight, which is about 10% bigger than a standard imperial ounce.
Why can't we just use the metric system all along?
I mean seriously? When someone says "ounce", you can't even be sure, about which ounce he is talking about?

Once a system is in use, its difficult to break out from it. Its a type of network effect.
Arriemoller
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December 15, 2014, 08:48:50 PM
 #2289

Thanks for the correction, but you should have been correcting me on failing to mention that I used the troy ounce, which is standard for gold weight, which is about 10% bigger than a standard imperial ounce.
Why can't we just use the metric system all along?
I mean seriously? When someone says "ounce", you can't even be sure, about which ounce he is talking about?

Once a system is in use, its difficult to break out from it. Its a type of network effect.

As I understand it the federal government of the USA have already adopted the metric system, doesn't all government agencies use it? I know for sure that the military does.

Besides, if all the other countries on earth could change you would think that the USA would be able to as well. The network effect now works in favor of the metric system.

Demokrati: Två vargar och ett lamm röstar om lunchmenyn.      Democracy: Two wolfes and a lamb votes about the lunch menu.
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December 16, 2014, 07:49:38 AM
 #2290

Thanks for the correction, but you should have been correcting me on failing to mention that I used the troy ounce, which is standard for gold weight, which is about 10% bigger than a standard imperial ounce.
Why can't we just use the metric system all along?
I mean seriously? When someone says "ounce", you can't even be sure, about which ounce he is talking about?

Once a system is in use, its difficult to break out from it. Its a type of network effect.

As I understand it the federal government of the USA have already adopted the metric system, doesn't all government agencies use it? I know for sure that the military does.

Besides, if all the other countries on earth could change you would think that the USA would be able to as well. The network effect now works in favor of the metric system.

Do you have a link on the Federal G of the USA adopting the metric system?

The metric system makes more sense and will likely be the winning system within....100years.


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wadili89
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December 16, 2014, 07:56:25 AM
 #2291

Thanks for the correction, but you should have been correcting me on failing to mention that I used the troy ounce, which is standard for gold weight, which is about 10% bigger than a standard imperial ounce.
Why can't we just use the metric system all along?
I mean seriously? When someone says "ounce", you can't even be sure, about which ounce he is talking about?

Once a system is in use, its difficult to break out from it. Its a type of network effect.

As I understand it the federal government of the USA have already adopted the metric system, doesn't all government agencies use it? I know for sure that the military does.

Besides, if all the other countries on earth could change you would think that the USA would be able to as well. The network effect now works in favor of the metric system.

We are still using 24 hours a day, 60 minutes a second, 60 seconds a minute. If changing was this easy then we would be having them in multiples of 10.
LFC_Bitcoin
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December 16, 2014, 10:09:29 AM
 #2292

Derp

picolo
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December 16, 2014, 10:25:39 AM
 #2293

Thanks for the correction, but you should have been correcting me on failing to mention that I used the troy ounce, which is standard for gold weight, which is about 10% bigger than a standard imperial ounce.
Why can't we just use the metric system all along?
I mean seriously? When someone says "ounce", you can't even be sure, about which ounce he is talking about?

Once a system is in use, its difficult to break out from it. Its a type of network effect.

As I understand it the federal government of the USA have already adopted the metric system, doesn't all government agencies use it? I know for sure that the military does.

Besides, if all the other countries on earth could change you would think that the USA would be able to as well. The network effect now works in favor of the metric system.

We are still using 24 hours a day, 60 minutes a second, 60 seconds a minute. If changing was this easy then we would be having them in multiples of 10.

24H for 24 stars :

"During the era when sundials were first used, however, Egyptian astronomers also first observed a set of 36 stars that divided the circle of the heavens into equal parts. The passage of night could be marked by the appearance of 18 of these stars, three of which were assigned to each of the two twilight periods when the stars were difficult to view. The period of total darkness was marked by the remaining 12 stars, again resulting in 12 divisions of night (another nod to the duodecimal system). During the New Kingdom (1550 to 1070 B.C.), this measuring system was simplified to use a set of 24 stars, 12 of which marked the passage of the night."

60minutes and 60seconds : not sure why :

"Hipparchus and other Greek astronomers employed astronomical techniques that were previously developed by the Babylonians, who resided in Mesopotamia. The Babylonians made astronomical calculations in the sexagesimal (base 60) system they inherited from the Sumerians, who developed it around 2000 B.C. Although it is unknown why 60 was chosen, it is notably convenient for expressing fractions, since 60 is the smallest number divisible by the first six counting numbers as well as by 10, 12, 15, 20 and 30."


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Soros Shorts
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December 16, 2014, 11:04:03 AM
 #2294


We are still using 24 hours a day, 60 minutes a second, 60 seconds a minute. If changing was this easy then we would be having them in multiples of 10.

I also don't like the idea that there are 360 degrees in a circle. Let's change that to 1000 metric degrees. Then we'd be free to change the latitude and longitude system of the globe into something involving multiples of 10.
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December 16, 2014, 11:33:10 AM
 #2295


We are still using 24 hours a day, 60 minutes a second, 60 seconds a minute. If changing was this easy then we would be having them in multiples of 10.

I also don't like the idea that there are 360 degrees in a circle. Let's change that to 1000 metric degrees. Then we'd be free to change the latitude and longitude system of the globe into something involving multiples of 10.

What has become common and widely accepted will remain even if there are easier alternatives. Troy ounce is used and works well in the head of all those using and will remain.
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December 16, 2014, 02:14:33 PM
 #2296


We are still using 24 hours a day, 60 minutes a second, 60 seconds a minute. If changing was this easy then we would be having them in multiples of 10.

I also don't like the idea that there are 360 degrees in a circle. Let's change that to 1000 metric degrees. Then we'd be free to change the latitude and longitude system of the globe into something involving multiples of 10.

What has become common and widely accepted will remain even if there are easier alternatives. Troy ounce is used and works well in the head of all those using and will remain.

I believe their were 360 days in a year back when giants walked the earth.
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December 16, 2014, 02:28:32 PM
 #2297


We are still using 24 hours a day, 60 minutes a second, 60 seconds a minute. If changing was this easy then we would be having them in multiples of 10.

I also don't like the idea that there are 360 degrees in a circle. Let's change that to 1000 metric degrees. Then we'd be free to change the latitude and longitude system of the globe into something involving multiples of 10.

What has become common and widely accepted will remain even if there are easier alternatives. Troy ounce is used and works well in the head of all those using and will remain.

It will remain until a dictator forces everyone to change or a smart trusted group change the rule.


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December 16, 2014, 04:22:50 PM
 #2298

I am not very 'wealthy' or 'elite' these days, but the future could still be bright. Set exciting goals and never give up.   Smiley

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December 16, 2014, 05:02:48 PM
 #2299

I am not very 'wealthy' or 'elite' these days, but the future could still be bright. Set exciting goals and never give up.   Smiley

Having 20-50BTC will be enough to feel like you made a good investment when the price will jump. It obviously all depends on your standard of livings but tens of BTC will be enough to feel good if you are middle class in a first world country Wink


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December 16, 2014, 05:23:53 PM
 #2300

I am not very 'wealthy' or 'elite' these days, but the future could still be bright. Set exciting goals and never give up.   Smiley

Having 20-50BTC will be enough to feel like you made a good investment when the price will jump. It obviously all depends on your standard of livings but tens of BTC will be enough to feel good if you are middle class in a first world country Wink

Not with the current price, and most definitely while it isn't accepted at "your local grocery store".
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