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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 598604 times)
Marbit
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June 19, 2015, 04:02:28 PM
 #2781

http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/

After reading this, the scale of black market and digital economies and the effect Bitcoin will have on them I am pretty certain we are going to be very wealthy men -- even with a sum as small as 10 Bitcoins. It's just so hard to believe. We are only in the beginning storms with these significant rallies from 10 to 20 dollars. I will not be surprised to see prices from hundreds to thousands in the coming months.

The world just isn't going to be the same and we have been blessed as the pioneers.

What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop?

I'm a believer like you, but a realistic one at that. I believe block chain is the future, crypt-currency is the future and consequently, bitcoin is something to look out for.
How amazing would it be if the prices plummeted to $1000+
I'm glad I witnessed the beginning of the new era though, that too so closely. The future is exciting Smiley
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June 19, 2015, 04:06:40 PM
 #2782

http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/

After reading this, the scale of black market and digital economies and the effect Bitcoin will have on them I am pretty certain we are going to be very wealthy men -- even with a sum as small as 10 Bitcoins. It's just so hard to believe. We are only in the beginning storms with these significant rallies from 10 to 20 dollars. I will not be surprised to see prices from hundreds to thousands in the coming months.

The world just isn't going to be the same and we have been blessed as the pioneers.

What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop?

I'm a believer like you, but a realistic one at that. I believe block chain is the future, crypt-currency is the future and consequently, bitcoin is something to look out for.
How amazing would it be if the prices plummeted to $1000+
I'm glad I witnessed the beginning of the new era though, that too so closely. The future is exciting Smiley

Couldn't agree more with this!  Cool
explorer
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June 19, 2015, 07:56:57 PM
 #2783

does anybody really feel that it will go back to 1200$ (practically)

If it doesn't go astronomically past that point, it is a fail that will just disappear. 
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June 19, 2015, 10:56:09 PM
 #2784

does anybody really feel that it will go back to 1200$ (practically)

If it doesn't go astronomically past that point, it is a fail that will just disappear.  
This is correct. Longterm, the price per coin and market cap must continue increasing with difficulty or the incentive system would fall apart because btc wouldn't be profitable to mine.

I think bitcoin will sail past 12,000 United States promissory bancnotes. Transparent decentralized mathematics vs. The full faith and credit of a military empire currently sliding into collapse and economic ruin...

This isn't that hard to predict. No hegemony in history lasts forever.

Remember Aaron Swartz, a 26 year old computer scientist who died defending the free flow of information.
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June 19, 2015, 11:41:14 PM
 #2785

I agree, bitcoin is on a major rise now ..

Tell that to the guys who purchsed Bitcoin when the exchange rate was going at $1,200 per coin. Bitcoin has lost 80% of its value, from its peak, which was reached in December 2013. No fiat currency has suffered such a crash. The worst performing fiat currency is the Ukrainian Hryvnia, which has seen its value dropping by 60%.

*ahem* Deutchmark under the Weimar republic. Venezuelan dollar in 2005. Zimbabwean dollar around the same time... I can come up with others. Where BTC did better, is that it did bounce back.

Buy Bitcoins with Paypal, Credit card, or other methods. Send me a PM or a text to 208-451-2665.
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June 19, 2015, 11:45:34 PM
 #2786

does anybody really feel that it will go back to 1200$ (practically)

If it doesn't go astronomically past that point, it is a fail that will just disappear.  
This is correct. Longterm, the price per coin and market cap must continue increasing with difficulty or the incentive system would fall apart because btc wouldn't be profitable to mine.

I think bitcoin will sail past 12,000 United States promissory bancnotes. Transparent decentralized mathematics vs. The full faith and credit of a military empire currently sliding into collapse and economic ruin...

This isn't that hard to predict. No hegemony in history lasts forever.

If BTC becomes unprofitable to mine, then people will stop mining it. Then difficulty will plummet. Then it becomes profitable to mine again. The system is not so fragile.

Year 2021
Bitcoin Supply: ~90% mined
Supply Inflation: <1.8%
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June 19, 2015, 11:53:06 PM
 #2787

does anybody really feel that it will go back to 1200$ (practically)

Probably heard that a few times before it hit $1200 the first time. No one see's the future, but if it happened once it is, in fact, possible.

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June 19, 2015, 11:57:06 PM
 #2788

does anybody really feel that it will go back to 1200$ (practically)

Probably heard that a few times before it hit $1200 the first time. No one see's the future, but if it happened once it is, in fact, possible.

yeeahh I feel will Hit 1200 again in NEXT YEAR  Wink

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June 20, 2015, 01:59:54 AM
 #2789

With btc where shes at were not going to be rich anytime soon.
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June 20, 2015, 04:04:06 AM
 #2790

does anybody really feel that it will go back to 1200$ (practically)

Probably heard that a few times before it hit $1200 the first time. No one see's the future, but if it happened once it is, in fact, possible.

yeeahh I feel will Hit 1200 again in NEXT YEAR  Wink
I hope that thing will be happened too. But now we must think realistic and see market chart. Now market price stuck at $240, it's still too far from $1200. But i really hope it will be happened again Smiley
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June 20, 2015, 07:16:58 PM
 #2791

. No fiat currency has suffered such a crash. The worst performing fiat currency is the Ukrainian Hryvnia, which has seen its value dropping by 60%.

*ahem* Deutchmark under the Weimar republic. Venezuelan dollar in 2005. Zimbabwean dollar around the same time... I can come up with others. Where BTC did better, is that it did bounce back.

It may also be instructive to point out that the most successful fiat currency of all time -- the USD -- has lost 97% of its value since its inception.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.
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June 20, 2015, 07:19:26 PM
 #2792

It's kinda fun looking at these threads, like a blast from the past. These people who were here this early surely got some cheap coins. Many must've become millionaire's if they held them long enough.
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June 20, 2015, 07:35:20 PM
 #2793

. No fiat currency has suffered such a crash. The worst performing fiat currency is the Ukrainian Hryvnia, which has seen its value dropping by 60%.

*ahem* Deutchmark under the Weimar republic. Venezuelan dollar in 2005. Zimbabwean dollar around the same time... I can come up with others. Where BTC did better, is that it did bounce back.

It may also be instructive to point out that the most successful fiat currency of all time -- the USD -- has lost 97% of its value since its inception.

Fiat is built to be inflationary.  Over an aggregate time period it is designed to grow at 2-3% per year.  So, sadly, it is working as intended.

Bitcoin can be reduced to decimals far past $0.01.  So while I think Bitcoin is a very breakthrough and revolutionary means of payment, it does not mean I should be ignorant to the qualifications or achievements that 'paper' has almost magically accomplished.

Avoid putting on blinders.  We have a better chance of making Bitcoin mainstream if we think before we speak.

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June 22, 2015, 03:20:55 AM
 #2794

. No fiat currency has suffered such a crash. The worst performing fiat currency is the Ukrainian Hryvnia, which has seen its value dropping by 60%.

*ahem* Deutchmark under the Weimar republic. Venezuelan dollar in 2005. Zimbabwean dollar around the same time... I can come up with others. Where BTC did better, is that it did bounce back.

It may also be instructive to point out that the most successful fiat currency of all time -- the USD -- has lost 97% of its value since its inception.

Fiat is built to be inflationary.  Over an aggregate time period it is designed to grow at 2-3% per year.  So, sadly, it is working as intended.

Bitcoin can be reduced to decimals far past $0.01.  So while I think Bitcoin is a very breakthrough and revolutionary means of payment, it does not mean I should be ignorant to the qualifications or achievements that 'paper' has almost magically accomplished.

Avoid putting on blinders.  We have a better chance of making Bitcoin mainstream if we think before we speak.

Aye. The US dollar is probably the most successful long term scam in history. It has retained it's exchangeability through inflation that SHOULD HAVE killed it. Actual inflation, based on purchasing power only, has been very high at many times. True inflation is even higher than that, following the Austrian postion that inflation actually only has one definition: Adding to the supply. Looking at it from that point of view, and for the moment ignoring the legerdemain of the Federal Reserve and Treasury Department, the actual inflation from 2008 to present (as far as we can determine) was nearer to 80%. We're talking Weimar levels here, and yet the PR army manages to hold the lid on it. For now. I would not have thought it could last as long as it has, let alone be 2014's best investment. But it did. It seems that people prefer a comforting lie to the stark, ugly truth.

Yet it cannot be sustained. The money will either have to be revalued and reissued with a planned default, or there will be the unplanned one when merchants simply won't take the paper anymore.

At the moment, BTC is inflationary, as was gold in the early days of mining, but that will pass. It will become more valuable over time, if it gains wider adoption.

I personally think that BTC is just the beginning. I think the concept sound, but the inital currency deeply flawed on multiple levels. But that first mover advantage will keep it on top for some time to come.

Buy Bitcoins with Paypal, Credit card, or other methods. Send me a PM or a text to 208-451-2665.
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June 22, 2015, 03:30:06 AM
 #2795

Tell that to the guys who purchsed Bitcoin when the exchange rate was going at $1,200 per coin. Bitcoin has lost 80% of its value, from its peak, which was reached in December 2013. No fiat currency has suffered such a crash. The worst performing fiat currency is the Ukrainian Hryvnia, which has seen its value dropping by 60%.

*ahem* Deutchmark under the Weimar republic. Venezuelan dollar in 2005. Zimbabwean dollar around the same time... I can come up with others. Where BTC did better, is that it did bounce back.

I was talking about the situation since 2013. Out of the 200 or so different fiat currencies (plus BTC) in existence, Bitcoin is the worst performing currency against the US Dollar since December 2013. Historically, currencies such as the Deutchmark and the Venezuelan dollar have suffered even worse crashes. But they occurred years, if not decades ago.

                               
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June 22, 2015, 03:34:38 AM
 #2796

http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/

After reading this, the scale of black market and digital economies and the effect Bitcoin will have on them I am pretty certain we are going to be very wealthy men -- even with a sum as small as 10 Bitcoins. It's just so hard to believe. We are only in the beginning storms with these significant rallies from 10 to 20 dollars. I will not be surprised to see prices from hundreds to thousands in the coming months.

The world just isn't going to be the same and we have been blessed as the pioneers.

What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop?

The Link can't be open
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June 22, 2015, 06:11:23 AM
 #2797

Tell that to the guys who purchsed Bitcoin when the exchange rate was going at $1,200 per coin. Bitcoin has lost 80% of its value, from its peak, which was reached in December 2013. No fiat currency has suffered such a crash. The worst performing fiat currency is the Ukrainian Hryvnia, which has seen its value dropping by 60%.

*ahem* Deutchmark under the Weimar republic. Venezuelan dollar in 2005. Zimbabwean dollar around the same time... I can come up with others. Where BTC did better, is that it did bounce back.

I was talking about the situation since 2013. Out of the 200 or so different fiat currencies (plus BTC) in existence, Bitcoin is the worst performing currency against the US Dollar since December 2013. Historically, currencies such as the Deutchmark and the Venezuelan dollar have suffered even worse crashes. But they occurred years, if not decades ago.

When measured in terms of implied value against the US dollar rather than the artificial "official" value, the Venezuelan bolivar has actually performed worse (60 VEF to 1 USD on December 2013 to 430 VEF to 1 USD on May 2015):



http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity/

After reading this, the scale of black market and digital economies and the effect Bitcoin will have on them I am pretty certain we are going to be very wealthy men -- even with a sum as small as 10 Bitcoins. It's just so hard to believe. We are only in the beginning storms with these significant rallies from 10 to 20 dollars. I will not be surprised to see prices from hundreds to thousands in the coming months.

The world just isn't going to be the same and we have been blessed as the pioneers.

What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop?

The Link can't be open

You're quoting a post from 2011. It's fairly common for links posted many years ago to no longer work. A copy of the article can be found here:

http://themonetaryfuture.blogspot.com/2011/06/bitcoin-is-economic-singularity.html

The author seems to have entered the Bitcoin world during the June 2011 bubble when prices were skyrocketing and "mainstream" people were beginning to hear about it for the first time. In the article, he predicts that the value of Bitcoin will explode tremendously in the next three years (a prediction which later turned out to be mostly correct) and also recommends putting nearly all of your assets into BTC.
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June 22, 2015, 07:29:05 AM
 #2798

Hi,

I need urgent to know.!!
installed the new bitcoin Kern V.0.10.2 on my vps and my home computer
now about 1 month but suddenly I lost all my BTC. Sombody know how possible?

And it goe's to this wallet 1Q3PuoCZ8yR9KSSkxJrNkCdxYu9KGMQtdy

Thanks
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June 22, 2015, 08:03:50 AM
 #2799

Hi,

I need urgent to know.!!
installed the new bitcoin Kern V.0.10.2 on my vps and my home computer
now about 1 month but suddenly I lost all my BTC. Sombody know how possible?

And it goe's to this wallet 1Q3PuoCZ8yR9KSSkxJrNkCdxYu9KGMQtdy

Thanks

beaware of vps and where you connect to them with putty for example

also who was the original owner of the vps? you or it was purchased?

anyway it sounds like you are infected
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June 22, 2015, 09:32:37 AM
 #2800

Hi,

I need urgent to know.!!
installed the new bitcoin Kern V.0.10.2 on my vps and my home computer
now about 1 month but suddenly I lost all my BTC. Sombody know how possible?

And it goe's to this wallet 1Q3PuoCZ8yR9KSSkxJrNkCdxYu9KGMQtdy

Thanks

beaware of vps and where you connect to them with putty for example

also who was the original owner of the vps? you or it was purchased?

anyway it sounds like you are infected

The vps is my own server I connect it with bitvise SSH

Do you mean that my computer have a virus? anyway it sounds like you are infected.
Please explain some more about this.

Just 1 month i'am using Antminer S5. is possible that here is an mistake (virus). Iam mining on antpool.

Thanks
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