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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 507861 times)
Oscilson
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April 13, 2015, 02:47:55 PM
 #2641

There are plenty of really interesting projects happening now in crypto/decentralziation. The thing is, it takes both skill and a lot of luck to spot the good ones. Even if you invest in something that's objectively great, it doesn't necessarly mean it will catch up with the popular and deliver massive gains.

Most people do not have the skill or LUCKY to find the promising coins. We can only invest the long standing coins, but they may die in any minute.
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April 13, 2015, 03:52:26 PM
 #2642

There are plenty of really interesting projects happening now in crypto/decentralziation. The thing is, it takes both skill and a lot of luck to spot the good ones. Even if you invest in something that's objectively great, it doesn't necessarly mean it will catch up with the popular and deliver massive gains.

Most people do not have the skill or LUCKY to find the promising coins. We can only invest the long standing coins, but they may die in any minute.

Remember solid coin and Geist Guide... Good thing i dropped mine before they went under
Ron~Popeil
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April 13, 2015, 04:00:44 PM
 #2643

There are definitely still opportunities. You have to be either very lucky or very knowledgable to spot them. Cloud mining or investment schemes are not the good ones.
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April 13, 2015, 06:42:31 PM
 #2644

Cloud mining was never a good opportunity, and it was completely obvious that it wasn't.

If it were profitable for the renter to rent out equipment for mining, then the guy who owned the equipment would be passing up an opportunity to profit more by simply mining for himself.  In fact the only way for him to be making more money than he would make by NOT renting out the machinery is if the additional money comes directly out of the renters' pocket. 

Seriously guys.  Business 101.  Never deal with anyone unless you can see where his profit in the deal is coming from.  People who aren't stupid won't cut you in if they take a loss by doing so. 
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April 13, 2015, 07:18:43 PM
 #2645

We still can be, accumulate as much as you can now.

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April 13, 2015, 07:29:56 PM
 #2646

I wish people would stop selling.
If we all HODL for a couple of years & limit supply the price would be great.

It has always been difficult to educated people doing the right thing. Wink

That's why there is an elite of a few visionaries within an ocean of ordinary people...
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April 13, 2015, 08:57:25 PM
 #2647

I got into Bitcoin when the prices reached $800. I was very lucky afterwards that this prices was to high for me and I did not buy Bitcoins at this time. Instead, I hoped to get into next Bitcoin and invested into Nxt what made me not rich but gave me some considerably wealth too. What I want to say is that there are always chances to make good money if you really get into promising coins.

Some altcoins had the potential for enormous profits but many also had the potential for enormous losses. While Bitcoin's price rose by 90 times in 2013, Litecoin's went up by nearly 600 times. Someone who had invested $13 into BTC in the beginning of 2013 and exchanged it for NXT while the IPO was still open would have been $5 million better off at one point.

Compare this to 2012 when the BTC price only rose from $5 to $13 by the year's end. Not many opportunities were to be had there. The same is also probably true for 2015. If BTC does become truly mainstream then those who wait patiently today might eventually see very large returns in the future. Just like how those who had waited and held onto their coins in 2012 would have seen enormous returns in the following year.

How come OP is "anonymous" and has no profile? Just realized when I tried to click on his nickname, but there's nothing... interesting.

Apparently, he was an infamous troll and got banned and his user account removed.

How come OP is "anonymous" and has no profile? Just realized when I tried to click on his nickname, but there's nothing... interesting.

Look up the user names Atlas, Jon, Immanuel Go, Ragnar, ALPHA, anonymous, Boss and you'll see most of his threads. He had more nicks than hookers have tricks.

Well that explains it. Previously I used to think that the forums supported anonymous/guest posting and OP was one of such users. Strange that they would actually go so far as to delete the account though.

There are plenty of really interesting projects happening now in crypto/decentralziation. The thing is, it takes both skill and a lot of luck to spot the good ones. Even if you invest in something that's objectively great, it doesn't necessarly mean it will catch up with the popular and deliver massive gains.

Yup, definitely. In fact, if NXT were to be released today, most people would probably think it was a scam and not invest. During its IPO phase, the coin had no whitepaper, no code, no working beta, no escrow, and an anonymous newbie dev. Then there were other coins like Stackcoin which passed the "scam check reviews" in place at the time but still turned out to be scams. Both coins promised a lot of new, exciting things but only one of them would have gained you money.

Also, the main reason why the NXT IPO made such massive profits for its investors was the absolutely tiny size of it. Only 21 BTC was ever invested. Projects like Ethereum are doing innovative things but their IPOs are usually much more massive compared to NXT's so even if these coins reach multi-million dollar market caps, it's highly unlikely that you would see the same type of returns on your investment.

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April 13, 2015, 09:30:37 PM
 #2648

I got into Bitcoin when the prices reached $800. I was very lucky afterwards that this prices was to high for me and I did not buy Bitcoins at this time. Instead, I hoped to get into next Bitcoin and invested into Nxt what made me not rich but gave me some considerably wealth too. What I want to say is that there are always chances to make good money if you really get into promising coins.

Some altcoins had the potential for enormous profits but many also had the potential for enormous losses. While Bitcoin's price rose by 90 times in 2013, Litecoin's went up by nearly 600 times. Someone who had invested $13 into BTC in the beginning of 2013 and exchanged it for NXT while the IPO was still open would have been $5 million better off at one point.

Compare this to 2012 when the BTC price only rose from $5 to $13 by the year's end. Not many opportunities were to be had there. The same is also probably true for 2015. If BTC does become truly mainstream then those who wait patiently today might eventually see very large returns in the future. Just like how those who had waited and held onto their coins in 2012 would have seen enormous returns in the following year.

How come OP is "anonymous" and has no profile? Just realized when I tried to click on his nickname, but there's nothing... interesting.

Apparently, he was an infamous troll and got banned and his user account removed.

How come OP is "anonymous" and has no profile? Just realized when I tried to click on his nickname, but there's nothing... interesting.

Look up the user names Atlas, Jon, Immanuel Go, Ragnar, ALPHA, anonymous, Boss and you'll see most of his threads. He had more nicks than hookers have tricks.

Well that explains it. Previously I used to think that the forums supported anonymous/guest posting and OP was one of such users. Strange that they would actually go so far as to delete the account though.

There are plenty of really interesting projects happening now in crypto/decentralziation. The thing is, it takes both skill and a lot of luck to spot the good ones. Even if you invest in something that's objectively great, it doesn't necessarly mean it will catch up with the popular and deliver massive gains.

Yup, definitely. In fact, if NXT were to be released today, most people would probably think it was a scam and not invest. During its IPO phase, the coin had no whitepaper, no code, no working beta, no escrow, and an anonymous newbie dev. Then there were other coins like Stackcoin which passed the "scam check reviews" in place at the time but still turned out to be scams. Both coins promised a lot of new, exciting things but only one of them would have gained you money.

Also, the main reason why the NXT IPO made such massive profits for its investors was the absolutely tiny size of it. Only 21 BTC was ever invested. Projects like Ethereum are doing innovative things but their IPOs are usually much more massive compared to NXT's so even if these coins reach multi-million dollar market caps, it's highly unlikely that you would see the same type of returns on your investment.

The reputation of IPOs has been damaged beyond belief, too many scams, but those that turn out ok, do make massive profits for investors.

NXT is a good idea, but I dont like the fact there are massive ass stakeholders making money out of holding.

Ethereum... Vitalik has criticized Bitcoin a lot, he's delayed Ethereum beyond belief, all of this while of course accepting the Bitcoin he criticizes.

Jybrael
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April 13, 2015, 10:26:40 PM
 #2649

I do believe that in the future Bitcoin will reach new heights and rise up to the moon once again...how long that will take at the moment with all the negative press Bitcoin is getting and the slow adoption rate kind of...can't really be sure with all this...but I will stay positive.
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April 13, 2015, 10:57:50 PM
 #2650

The reputation of IPOs has been damaged beyond belief, too many scams, but those that turn out ok, do make massive profits for investors.

NXT was probably the only one to make massive profits. But a few others have made reasonable profits. For example, I think those who invested in GEMS made a small profit or a small loss (forgot which). Some coins such as Reddcoin and Qora would have made good (but not massive) profits if you sold at their peaks. Other coins such as Blocknet, Crypti, NODE, Syscoin, and Bitbay are now trading at a loss compared to the IPO price.

Quote
NXT is a good idea, but I dont like the fact there are massive ass stakeholders making money out of holding.

You mean forging? NXT's forging returns are really far too low to care about. A NXT whale with 1 million NXT makes less than 50 cents worth of NXT after forging for a week.

Quote
Ethereum... Vitalik has criticized Bitcoin a lot, he's delayed Ethereum beyond belief, all of this while of course accepting the Bitcoin he criticizes.

Vitalik originally became well known as the founder and author of Bitcoin Magazine. He probably likes Bitcoin but thinks that the blockchain concept could be extended further, hence Ethereum. Nick Szabo seems to think this way too.

I do believe that in the future Bitcoin will reach new heights and rise up to the moon once again...how long that will take at the moment with all the negative press Bitcoin is getting and the slow adoption rate kind of...can't really be sure with all this...but I will stay positive.

Other than the Silk Road news, I haven't seen a lot of negative press recently. After the Mt. Gox incident, most of the news in the second half of 2014 has been positive (e.g. increased merchant adoption, VC funding, Wall Street) and yet the price has continued declining.

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April 14, 2015, 03:11:25 AM
 #2651

A significant remaining hurdle is seeing Bitcoin wallets installed on every smart-phone.  People are more likely to buy, use, and trust Bitcoin if they already have a Bitcoin wallet.  It would be less mysterious, less intimidating, and in some people, mocking, until they fed it.

Some options include

  • pre-installed with the device (what would be their incentive?)
  • pre-installed with the operating system (what would be their incentive?)
  • pre-installed by the branded retailer (what would be their incentive?)
  • part of an optionally downloaded software suite (piggyback)
  • individual optional download (the most common method)

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April 14, 2015, 01:26:43 PM
 #2652

A significant remaining hurdle is seeing Bitcoin wallets installed on every smart-phone.  People are more likely to buy, use, and trust Bitcoin if they already have a Bitcoin wallet.  It would be less mysterious, less intimidating, and in some people, mocking, until they fed it.

Some options include

  • pre-installed with the device (what would be their incentive?)
  • pre-installed with the operating system (what would be their incentive?)
  • pre-installed by the branded retailer (what would be their incentive?)
  • part of an optionally downloaded software suite (piggyback)
  • individual optional download (the most common method)



Bloatware!  I remember that's how they got suckers into signing up for Prodigy, Compuserve, and AOL internet in the 90's.



Gots to trick these fools into using it first...

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Mt. Gox
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April 26, 2015, 11:56:04 AM
 #2653

There are plenty of really interesting projects happening now in crypto/decentralziation. The thing is, it takes both skill and a lot of luck to spot the good ones. Even if you invest in something that's objectively great, it doesn't necessarly mean it will catch up with the popular and deliver massive gains.

Most people do not have the skill or LUCKY to find the promising coins. We can only invest the long standing coins, but they may die in any minute.

Remember solid coin and Geist Guide... Good thing i dropped mine before they went under

This is a good point. While there are plenty of promising technologies and projects currently being developed, it's impossible to know which ones will be successful in the future and which ones will be duds. Out of the old coins, Solidcoin and Geist Geld are completely dead. BBQcoin was thought to be dead but was revived and reached a multi-million dollar market cap but is now barely alive. Litecoin is currently doing very well compared to pre-2013 levels but Tenebrix and Fairbrix are dead despite the last one being the most innovative initially. Ixcoin and I0coin are doing fairly OK too.

Currently there are projects like Ethereum, MaidSafe, Counterparty, NEM, NXT, BitShares, Storj, Stellar, Ripple, etc. which are all trying to add something new to the crypto world. Some of these might end up dying just like the way your Solidcoin and Geist Geld did. Others might end up creating a new generation of "wealthy elites" in the same way Bitcoin and Litecoin did.

A significant remaining hurdle is seeing Bitcoin wallets installed on every smart-phone.  People are more likely to buy, use, and trust Bitcoin if they already have a Bitcoin wallet.  It would be less mysterious, less intimidating, and in some people, mocking, until they fed it.

Some options include

  • pre-installed with the device (what would be their incentive?)
  • pre-installed with the operating system (what would be their incentive?)
  • pre-installed by the branded retailer (what would be their incentive?)
  • part of an optionally downloaded software suite (piggyback)
  • individual optional download (the most common method)



Bloatware!  I remember that's how they got suckers into signing up for Prodigy, Compuserve, and AOL internet in the 90's...

Bloatware was the first thing that came to mind for me as well. I'm not sure about how things were back in the 90's but many people these days are sick of having bloatware pre-installed on their phones and PCs. Since only a small percentage of society cares about Bitcoin right now, I'm not sure how it would be possible to integrate Bitcoin into a phone's OS without making it annoying. It would have to avoid being intrusive or "flashy", for starters.

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April 26, 2015, 12:38:02 PM
 #2654

That is actually interesting. 4 years on, the price is $200 with a high of around $1k

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April 26, 2015, 03:21:24 PM
 #2655

That is actually interesting. 4 years on, the price is $200 with a high of around $1k

yup. great gains compared to the start of the thread. even still, not everyone who was around in the early days got rich. some of us didn't have anything to invest back then. the most i had at one time was about 20 coins, and that was before we broke 100. spent most of it back then too.
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April 26, 2015, 06:25:06 PM
 #2656

I am pretty confident that most people in this thread, including OP, have panic sold already and have given their wealth to other people for the future. It's the beauty of wealth redistribution.

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April 26, 2015, 06:34:00 PM
 #2657

I am pretty confident that most people in this thread, including OP, have panic sold already and have given their wealth to other people for the future. It's the beauty of wealth redistribution.

Well said Cheesy

I fit in that category, though the panic had nothing to do with bitcoin. I had it, I was desperate, I made somebody else happy Tongue

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April 26, 2015, 07:36:28 PM
 #2658

That is actually interesting. 4 years on, the price is $200 with a high of around $1k

yup. great gains compared to the start of the thread. even still, not everyone who was around in the early days got rich. some of us didn't have anything to invest back then. the most i had at one time was about 20 coins, and that was before we broke 100. spent most of it back then too.

still looks a bit depressing, when you compare it to 2013, not only there was the ath in that year but there were also numerous other high prices, like 230 and 300 peak around april

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April 26, 2015, 07:43:22 PM
 #2659

That is actually interesting. 4 years on, the price is $200 with a high of around $1k

yup. great gains compared to the start of the thread. even still, not everyone who was around in the early days got rich. some of us didn't have anything to invest back then. the most i had at one time was about 20 coins, and that was before we broke 100. spent most of it back then too.

still looks a bit depressing, when you compare it to 2013, not only there was the ath in that year but there were also numerous other high prices, like 230 and 300 peak around april

2013 was very exciting. Seems a bit boring nowadays.

Unfortunately I didn't hold many bitcoins back then.

I am sure we'll see it again but there needs to be something quite significant happen for this u turn.
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April 26, 2015, 07:47:30 PM
 #2660

That is actually interesting. 4 years on, the price is $200 with a high of around $1k

yup. great gains compared to the start of the thread. even still, not everyone who was around in the early days got rich. some of us didn't have anything to invest back then. the most i had at one time was about 20 coins, and that was before we broke 100. spent most of it back then too.

still looks a bit depressing, when you compare it to 2013, not only there was the ath in that year but there were also numerous other high prices, like 230 and 300 peak around april

2013 was very exciting. Seems a bit boring nowadays.

Unfortunately I didn't hold many bitcoins back then.

I am sure we'll see it again but there needs to be something quite significant happen for this u turn.

This year could turn up some amazing surprises. Who knows? Back then no one actually cared about the coin, but now bitcoin seems to be talked about in almost every corner. Smiley














 

 

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