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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 607279 times)
Jybrael
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April 13, 2015, 10:26:40 PM
 #2641

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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Mt. Gox
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April 13, 2015, 10:57:50 PM
 #2642

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.

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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.

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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.
TippingPoint
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April 14, 2015, 03:11:25 AM
 #2643

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)

ChuckBuck
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April 14, 2015, 01:26:43 PM
 #2644

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
 #2645

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.
Bitcoin Explorer
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April 26, 2015, 12:38:02 PM
 #2646

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

arklan
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April 26, 2015, 03:21:24 PM
 #2647

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.
thejaytiesto
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April 26, 2015, 06:25:06 PM
 #2648

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
 #2649

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
 #2650

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
 #2651

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
 #2652

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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April 26, 2015, 08:55:17 PM
 #2653

This is a ridiculous thread. So much has changed since then, but if you had invested say 100$ back then, youd have a nice sum of money

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April 29, 2015, 08:28:36 AM
 #2654

This is a ridiculous thread. So much has changed since then, but if you had invested say 100$ back then, youd have a nice sum of money

If you look back in 20 years, you will say the same again.
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April 29, 2015, 09:43:35 AM
 #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.
Yeah....back then, no one predicted that the price of bitcoin would even breach the $1k mark. Anyway, I',m sure the price will be $1k or so sometime in the future(dont hole mee responsible if it doesnt happen Tongue)

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April 29, 2015, 09:46:50 AM
 #2656

For the upcoming years, to those people who hold a bitcoin will feel soon the life of a rich man.  
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April 29, 2015, 12:18:12 PM
 #2657

For the upcoming years, to those people who hold a bitcoin will feel soon the life of a rich man.  

What do you give us if we don't ?  Wink

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April 29, 2015, 12:22:08 PM
 #2658

For the upcoming years, to those people who hold a bitcoin will feel soon the life of a rich man.  

What do you give us if we don't ?  Wink
Post-capitalist existence.

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April 29, 2015, 12:31:10 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.

Yeah, definitely. If you look at some of the addresses of the people who were first posting in this thread, most spend their coins back in 2012. It isn't easy to hold on to your principle and keep holding on to your coins, as it may sound. Scams and Ponzi schemes are pretty tempting at times!

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April 29, 2015, 12:32:35 PM
 #2660

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.

Yeah, I'd be surprised if he/she was still holding all of their coins they had back at that time. Unfortunately OP's account isn't active anymore, so there's no way of seeing whether he/she is still active and what their decisions actually were, whether to hold on to their coins, cash them out, or lose them in Gox.

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