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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 579052 times)
Dknsw
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May 12, 2015, 07:50:17 PM
 #2701

I doubt very much it's the final design, but I have no way of knowing that.

I'd love it if it helped Bitcoin. I'm holding quite a few. I just look at it as if these companies are students in college. When you graduate you don't build your company on the schools network. You build your own network and use the knowledge you learned at school. That's what I think they're doing but we'll see. If I'm wrong I'm rich. So I hope I'm wrong.

Here's what everyone always overlooks when they muse about stuff like this: the system only works if people believe the digital tokens have value. 
 
belief   
 
If NASDAQ or JP Morgan go make their own blockchain, it will have some initial seed value because it will be backed by a major company.  But it won't have the monstrous billions of market cap that bitcoin has, and without that inherent value, the system breaks down. 
 
It would be like me declaring that my special alloy is now as valuable as gold...  Everyone would look at me and say, ummm, good for you, but no its not. 
 
For all these applications to work, they have to be built upon a network where the tokens are valuable, and any proprietary efforts will fizzle because you just won't be able to convince enough people to use your network to create the value you need to make it useful. 
 
Bitcoin wins.  Yes, don't just pack for the moon.  Throw in a Mars sweater and a pair of Alpha Centauri slippers too.  Shit gonna get cray cray.

Stupid bulltard can't stop self fantasy.
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May 12, 2015, 08:13:52 PM
 #2702

I doubt very much it's the final design, but I have no way of knowing that.

I'd love it if it helped Bitcoin. I'm holding quite a few. I just look at it as if these companies are students in college. When you graduate you don't build your company on the schools network. You build your own network and use the knowledge you learned at school. That's what I think they're doing but we'll see. If I'm wrong I'm rich. So I hope I'm wrong.

Here's what everyone always overlooks when they muse about stuff like this: the system only works if people believe the digital tokens have value. 
 
belief   
 
If NASDAQ or JP Morgan go make their own blockchain, it will have some initial seed value because it will be backed by a major company.  But it won't have the monstrous billions of market cap that bitcoin has, and without that inherent value, the system breaks down. 
 
It would be like me declaring that my special alloy is now as valuable as gold...  Everyone would look at me and say, ummm, good for you, but no its not. 
 
For all these applications to work, they have to be built upon a network where the tokens are valuable, and any proprietary efforts will fizzle because you just won't be able to convince enough people to use your network to create the value you need to make it useful. 
 
Bitcoin wins.  Yes, don't just pack for the moon.  Throw in a Mars sweater and a pair of Alpha Centauri slippers too.  Shit gonna get cray cray.


wait wait I am not quite ready!!!!!............
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May 12, 2015, 08:24:39 PM
 #2703

Quote
Bitcoin wins.  Yes, don't just pack for the moon.  Throw in a Mars sweater and a pair of Alpha Centauri slippers too.  Shit gonna get cray crayGrin Grin

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May 12, 2015, 10:36:32 PM
 #2704

I doubt very much it's the final design, but I have no way of knowing that.

I'd love it if it helped Bitcoin. I'm holding quite a few. I just look at it as if these companies are students in college. When you graduate you don't build your company on the schools network. You build your own network and use the knowledge you learned at school. That's what I think they're doing but we'll see. If I'm wrong I'm rich. So I hope I'm wrong.

Here's what everyone always overlooks when they muse about stuff like this: the system only works if people believe the digital tokens have value.  
  
belief  
  
If NASDAQ or JP Morgan go make their own blockchain, it will have some initial seed value because it will be backed by a major company.  But it won't have the monstrous billions of market cap that bitcoin has, and without that inherent value, the system breaks down.  
  
It would be like me declaring that my special alloy is now as valuable as gold...  Everyone would look at me and say, ummm, good for you, but no its not.  
  
For all these applications to work, they have to be built upon a network where the tokens are valuable, and any proprietary efforts will fizzle because you just won't be able to convince enough people to use your network to create the value you need to make it useful.  
  
Bitcoin wins.  Yes, don't just pack for the moon.  Throw in a Mars sweater and a pair of Alpha Centauri slippers too.  Shit gonna get cray cray.

Stupid bulltard can't stop self fantasy.
 
  
My enthusiasm is orders of magnitudes more powerful than your trolling could ever be.  
  
And unlike your shitty sockpuppet trolling, my enthusiasm is contagious.  
  
Game over, trolls.   We're going to outer space and you're not invited.  
  
Bitcoin will hit $500, then a thousand again, then $3,000 and the whole time you'll be insisting it's a speculative tulip bubble, but that doesn't mean it won't happen.  
  
Then $5,000, and then $10,000.  We're just getting warmed up.  
  
$20,000 and $60,000.... It all happens.  
  
Spoiler alert: you lose, and worse: you realize too late that your cross-dressing eroge games won't hold you at night in your single bedroom hovel.  Meanwhile the rest of us are partying on the surface of the fucking sun.

.............
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All statements are personal opinions, not intended as solicitation or advice regarding any financial instrument. Current holdings: XMR,AEON,SIA
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May 12, 2015, 10:47:04 PM
 #2705


Spoiler alert: you lose, and worse: you realize too late that your cross-dressing eroge games won't hold you at night in your single bedroom hovel.  Meanwhile the rest of us are partying on the surface of the fucking sun.

Dunno about the rest of you, but I'd certainly rather hovel in a single bedroom on Earth rather than party on the surface of the sun.

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May 12, 2015, 11:01:26 PM
 #2706


Spoiler alert: you lose, and worse: you realize too late that your cross-dressing eroge games won't hold you at night in your single bedroom hovel.  Meanwhile the rest of us are partying on the surface of the fucking sun.

Dunno about the rest of you, but I'd certainly rather hovel in a single bedroom on Earth rather than party on the surface of the sun.

Were gonna need really good air conditioners if we follow this guy.

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May 12, 2015, 11:13:39 PM
 #2707


Spoiler alert: you lose, and worse: you realize too late that your cross-dressing eroge games won't hold you at night in your single bedroom hovel.  Meanwhile the rest of us are partying on the surface of the fucking sun.

Dunno about the rest of you, but I'd certainly rather hovel in a single bedroom on Earth rather than party on the surface of the sun.

Were gonna need really good air conditioners if we follow this guy.

we need to turn the sun to a giant asic

Looking Back with Adam, Wei Dai couldn't fathom

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May 12, 2015, 11:56:44 PM
 #2708


Spoiler alert: you lose, and worse: you realize too late that your cross-dressing eroge games won't hold you at night in your single bedroom hovel.  Meanwhile the rest of us are partying on the surface of the fucking sun.

Dunno about the rest of you, but I'd certainly rather hovel in a single bedroom on Earth rather than party on the surface of the sun.

Were gonna need really good air conditioners if we follow this guy.

we need to turn the sun to a giant asic


Sir... i am a giant ASIC myself.
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May 13, 2015, 12:26:41 AM
 #2709

 
Spoiler alert: you lose, and worse: you realize too late that your cross-dressing eroge games won't hold you at night in your single bedroom hovel.  Meanwhile the rest of us are partying on the surface of the fucking sun.

LOL. What ?

 The things bitcoiners say oh man,always a good laugh reading these posts.   Love the enthusiasm
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May 13, 2015, 12:29:44 AM
 #2710

Psssst. All you new wealthy elite bitcoiners...

if you have Bitcoin and would like to use it to make more bitcoin (for FREE!) look into Credits.
Basically all BTC users can claim credits through the wallet. and from there you can sell them for more BTC..

If you click on my banner below you can find more information about Credits.
Build up your crpyto piles gentlemen!
Beliathon
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May 13, 2015, 02:26:09 AM
 #2711

225 is the new floor, from here builds up the next exponent bubble.

If you click on my banner below you can find more information about Credits.

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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May 16, 2015, 04:42:12 AM
 #2712

I have not become rich after using bitcoin, but I will continue to try to obtain money from bitcoin

This was a thread started by an early adopter in 2011.
Many who were posting then will have made significant money from BTC.

And most people like dhimasnk, you, and I who registered in 2014 lost money from Bitcoin. Cry

I think the price will rise eventually though.

That was a lesson learned by you though and you never spent your familys money chasing it did you. The thing is it is not nearly as difficult as people think, I am not great by any means but I am in profit trading and if anyone is interested here is a great site to learn trading basics 'ignore the name' lol http://www.babypips.com this will put most people on the right track then maybe in time they can become the wealthy from bitcoin Wink

I remember browsing that site back in 2011 when I got into forex trading. I knew about Bitcoin too back then but I chose forex instead. Sad

Fortunately, after losing a bit of money from a poor trading decision, I was able to get most of it back, withdrew my funds, and decided to never trade forex again. Cheesy

still holding since may 2013

So you're pretty much back to where you started from then?

Ya, I learned early on that I am not good with day trading. Lost about 400 bitcoins doing so.

Fortunately it was when the price was under $10.

If you are not a day trading expert, just buy and hold (better yet, convert and spend).

What difference would it make?

Converting fiat to BTC puts buying pressure (a good thing) on BTC but spending that BTC puts selling pressure (a bad thing) on BTC since it would be converted back into fiat. So wouldn't the two effects simply cancel each other out?

Not to mention there would be buying/selling fees cutting into it as well...

Me and you the same, the long term charts paint a pretty obvious picture and however much I don't like it, it is true. We have been dropping dropping and soon dropped. Will it bounce back in time!? Not sure if it drops to far and for to long a lot of people will just keep bailing with their losses and not look back and I don't blame them. So no OP I don't think we are wealthy elite more like broke wishful thinkers, the elite have go out of dodge.

Price in June 2011 was $33 per bitcoin. Price in January 2013 was $13 per bitcoin. Between those two points, the price dropped down to almost $2 per bitcoin at one stage.

I think we still have hope. Smiley

225 is the new floor, from here builds up the next exponent bubble.

The floor would have been $165 which it reached back in January (albeit only momentarily).

I'd love it if it helped Bitcoin. I'm holding quite a few. I just look at it as if these companies are students in college. When you graduate you don't build your company on the schools network. You build your own network and use the knowledge you learned at school. That's what I think they're doing but we'll see. If I'm wrong I'm rich. So I hope I'm wrong.

Google and Facebook built their companies on their schools' networks. Tongue

Yep, I've already read that. That's why I mentioned colored coins because the experiments will be done with the experimental system already in place. Is that the final design that will be used? Can you tell me that one?

Do you mean Colored Coins specifically or the concept of colored coins in general?
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May 16, 2015, 04:58:11 AM
 #2713

I haven't invested anywhere the amount that I would be considered the "wealthy elite".  A guy can still dream I guess.   Cry  Maybe quite a few on this forum have enough BTC where this would be true.

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May 16, 2015, 05:54:07 AM
 #2714

I haven't invested anywhere the amount that I would be considered the "wealthy elite".  A guy can still dream I guess.   Cry  Maybe quite a few on this forum have enough BTC where this would be true.

I think the idea is that you can invest a modest amount of BTC, wait a while for the world to realize the benefits of the technology, and then become part of the wealthy elite since the value of your stash of coins would have grown by then. It worked for the first generation of Bitcoiners, and it could work for us.

Say if someone had invested just $3,000 into BTC in October 2011 when they were going for $3 per coin. $3,000 isn't enough for someone to be considered part of the wealthy elite. But if they held onto their coins and sold when they were worth $1,000 each, he would have $1 million and therefore become part of the new wealthy elite. Grin
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May 16, 2015, 06:04:59 AM
 #2715

I haven't invested anywhere the amount that I would be considered the "wealthy elite".  A guy can still dream I guess.   Cry  Maybe quite a few on this forum have enough BTC where this would be true.

I think the idea is that you can invest a modest amount of BTC, wait a while for the world to realize the benefits of the technology, and then become part of the wealthy elite since the value of your stash of coins would have grown by then. It worked for the first generation of Bitcoiners, and it could work for us.

Say if someone had invested just $3,000 into BTC in October 2011 when they were going for $3 per coin. $3,000 isn't enough for someone to be considered part of the wealthy elite. But if they held onto their coins and sold when they were worth $1,000 each, he would have $1 million and therefore become part of the new wealthy elite. Grin
1M isn't enough to be considered wealthy. By some definitions, 1M British pounds is the bare minimum for "comfortably poor". So 1M USD isn't even comfortably poor, lol.

Even in the most optimistic scenarios, bitcoin cannot increase by more than a few thousand-fold. So it would take quite a bit even now if you were to become the wealthy elite. Say 30M as the bar for "wealthy", and bitcoin will increase ~1000x to 250k/per. You would need to invest $30k. Again, this is under the most optimistic scenarios.

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May 16, 2015, 06:10:43 AM
 #2716

I haven't invested anywhere the amount that I would be considered the "wealthy elite".  A guy can still dream I guess.   Cry  Maybe quite a few on this forum have enough BTC where this would be true.

I think the idea is that you can invest a modest amount of BTC, wait a while for the world to realize the benefits of the technology, and then become part of the wealthy elite since the value of your stash of coins would have grown by then. It worked for the first generation of Bitcoiners, and it could work for us.

Say if someone had invested just $3,000 into BTC in October 2011 when they were going for $3 per coin. $3,000 isn't enough for someone to be considered part of the wealthy elite. But if they held onto their coins and sold when they were worth $1,000 each, he would have $1 million and therefore become part of the new wealthy elite. Grin

However nice that sounds, it is like a fairytale or a dream. What I mean is back then when you spent 3k on 1000 bitcoin that is what you got '1000' bitcoin, try that today and you get around 13, for that to make the same million you need the price to go to about $80,000 per coin. The boat has sailed a long time ago and unfortunately we missed that boat and we will not be wealthy elite or even close on our 10btc-50btc. Of course I want it to happen but it won't. Just invest whatever you want as a hobbie not to make money and then it is stress free and if a miracle does happen you earned a few bob.  


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May 16, 2015, 08:43:43 AM
 #2717

I haven't invested anywhere the amount that I would be considered the "wealthy elite".  A guy can still dream I guess.   Cry  Maybe quite a few on this forum have enough BTC where this would be true.

I think the idea is that you can invest a modest amount of BTC, wait a while for the world to realize the benefits of the technology, and then become part of the wealthy elite since the value of your stash of coins would have grown by then. It worked for the first generation of Bitcoiners, and it could work for us.

Say if someone had invested just $3,000 into BTC in October 2011 when they were going for $3 per coin. $3,000 isn't enough for someone to be considered part of the wealthy elite. But if they held onto their coins and sold when they were worth $1,000 each, he would have $1 million and therefore become part of the new wealthy elite. Grin

However nice that sounds, it is like a fairytale or a dream. What I mean is back then when you spent 3k on 1000 bitcoin that is what you got '1000' bitcoin, try that today and you get around 13, for that to make the same million you need the price to go to about $80,000 per coin. The boat has sailed a long time ago and unfortunately we missed that boat and we will not be wealthy elite or even close on our 10btc-50btc. Of course I want it to happen but it won't. Just invest whatever you want as a hobbie not to make money and then it is stress free and if a miracle does happen you earned a few bob.  

What's wrong with $80,000 per coin?
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May 16, 2015, 11:53:28 AM
 #2718


What's wrong with $80,000 per coin?


Nothing much but isn't it considerably more of a stretch? A $1000 coin was achieved off the back of a few hundred thousand enthusiasts using comedy exchanges run by children and crooks.

$80,000 would need a decent chunk of global wealth being convinced to pour into it and stay there. It probably wouldn't actually require that much USD in global terms, maybe $100-250 billion of direct expenditure to push it that high but that's still far from chump change.

Possible but far more difficult to achieve.
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May 16, 2015, 11:58:50 AM
 #2719

Most of you lot live in fairy land, I actually feel for you and wish you all the best and that you beat your bitcoin price rise addiction. The wealthy elite has long gone from this game and they will not look back. Most of what is left I will not name  Cheesy
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May 16, 2015, 12:07:33 PM
 #2720

just wait until the stockmarket crashes again... with these artificially, fed/ecb inflated, markets... will come with a 50% correction.

i expect, like gold, the bitcoin price will rise if such an event occurs. we are nearing the end of this market cycle. markets really do not want to go much higher atm.

however, current market correction is near its end... it was 1 month in correction modus. exciting times there.

there will be a large market depression anywhere within the next 1.5years.

could be sooner rather then later; imagine if greece is expelled from the euro-zone. probably wont happen ( because russians are cheering on the sideline with bags of rescue cash ). but we dont know atm.

holding tightly to my cheap bitcoins. will buy more if price drops below 200.


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