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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 589592 times)
manselr
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June 19, 2015, 01:36:22 PM
 #2781

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


It will go back to the last ATH, but people will be scared to hold past it, so predict another crash after we get past ATH, or near ATH, and after that flash crash we'll finally hit a never seen before ATH which nobody can realistically predict.
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in the end, you only find the beginning


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June 19, 2015, 01:52:55 PM
 #2782

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

even if it will no go back to 1200$ i will be happy, just look at the stability that we have now, thats a pretty good news too Wink
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June 19, 2015, 02:55:11 PM
 #2783

Pretty amazing to look back at the first page of this thread. One person, back in 2011, predicted that there would be a bubble and then a crash.

I believe that we will see far higher than $1200 in the future. Bitcoin's stability, and increased usage (2x transaction volume over one year ago), suggests to me that it is here to stay.

And, a market cap of only $4 B is far too low for an international currency. The US M2 money supply is $12 Trillion. The value of all mined gold in the world is $8 Trillion. If Bitcoin sticks around and usage continues to grow, the value will HAVE to increase to the point that it is comparable to a major currency - potentially 1000x.
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June 19, 2015, 03:09:34 PM
 #2784

And, a market cap of only $4 B is far too low for an international currency. The US M2 money supply is $12 Trillion. The value of all mined gold in the world is $8 Trillion. If Bitcoin sticks around and usage continues to grow, the value will HAVE to increase to the point that it is comparable to a major currency - potentially 1000x.

A market cap of $4 billion might seem to be a small one, when compared to major world currencies such as the US Dollar, Euro, and the Renminbi. But many of the smaller nations are having currencies (such as the Sri Lankan Rupee, Bhutanese Ngultrum, and the Burmese kyat) which are having a market cap far lower than that figure.

The USD M2 money supply includes some $6 trillion in treasury bonds, and a few trillion in other forms, in addition to banknotes and coins.

And some 172,000 tonnes of gold have been mined to date. At the current rate of $1,180 / Oz, the total value of the same comes to $6.5 trillion.

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June 19, 2015, 03:48:00 PM
 #2785

And, a market cap of only $4 B is far too low for an international currency. The US M2 money supply is $12 Trillion. The value of all mined gold in the world is $8 Trillion. If Bitcoin sticks around and usage continues to grow, the value will HAVE to increase to the point that it is comparable to a major currency - potentially 1000x.

A market cap of $4 billion might seem to be a small one, when compared to major world currencies such as the US Dollar, Euro, and the Renminbi. But many of the smaller nations are having currencies (such as the Sri Lankan Rupee, Bhutanese Ngultrum, and the Burmese kyat) which are having a market cap far lower than that figure.

The USD M2 money supply includes some $6 trillion in treasury bonds, and a few trillion in other forms, in addition to banknotes and coins.

And some 172,000 tonnes of gold have been mined to date. At the current rate of $1,180 / Oz, the total value of the same comes to $6.5 trillion.

it might be true, but it is also true that bitcoin is aiming at a global audience and not only to one nation, so it can't go out with a so ridiculous market cap

it's like traying to sell 10 things to 100 people, you simply can not, and its divisibility will not cut it, merchants need to play with a huge business that involve a great amount of money
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June 19, 2015, 04:02:28 PM
 #2786

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
 #2787

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
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June 19, 2015, 07:56:57 PM
 #2788

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
 #2789

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
 #2790

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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21 million. I want them all.


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June 19, 2015, 11:45:34 PM
 #2791

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
 #2792

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
 #2793

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

deluxeCITY
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June 20, 2015, 01:59:54 AM
 #2794

With btc where shes at were not going to be rich anytime soon.
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June 20, 2015, 04:04:06 AM
 #2795

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
 #2796

. 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
 #2797

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
 #2798

. 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
 #2799

. 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
 #2800

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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