I am pretty confident we are the new wealthy elite, gentlemen.

[QuestionAuthority]

It is very strange. I see that this thread has as as author no one: its nick is Anonymous, I don't understand how was able to write his main post because is classified as "guest" and as I know a guest have no rights to post here, and for more the link which mus be discussed don't exist. And even with this strange things and real impossibility to give thoughts about something, the number of pages here is 9as I am writing this my post) at 155 pages (yes, 155 pages). For what write the posters here having in mind the above written by me? I cannot understand. But i can tell for sure that this continuous of posts one after another, in so many quantity, is the most clear example of the writing only to write, to write only to made post and to write without end and without meaning following only one or two words of previous post (writing in their new posts, in the most of cases, the same things but with other words). Forgetting in this way why the thread was created, creating infinite spam and don't reading nothing write three or four pages ahead. 

The kids name was Atlas on the forum and he was permabanned. He had a dozen or more alt accounts he made after each banning. I think Atlas was 15 or 16 when he made this thread. He was a self proclaimed nihilist from a town in Texas (anyone else see the humor in that, lol). He used to post threads like this and was part of the original group of Bitcoin cultists. He and another permabanned troll user known as MatthewNWright were locked in a latently homosexual forum bickering match that was clearly the most entertaining thing on the interwebz at the time. The most entertaining exchanges from Atlas came when he claimed he was going to commit suicide on this forum and another forum called "Something Awful".

https://www.reddit.com/r/Bitcoin/comments/nas30/something_awfuls_6000_post_bitcoin_thread_closed/

http://forums.somethingawful.com/showthread.php?threadid=3543334

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[Biomech]

I love this thread It never dies.

But of more substance, I have to disagree with the "hodl" crowd in most instances. I have gotten to the point where trading BTC is how I make the bulk of my living, and you pretty much have to play that day by day. On the most recent spike, I made really good money, but I make decent money every day. Money sitting in a vault does no good. It's purpose is trade, and that is how you increase your holdings.

Longer term, it's definitely a good play to have some BTC, dollars, diamonds, and etc. in storage, but not the bulk of it. Money in play, whatever form it's in, is where the profits are. And the losses, if we're to be honest, but carefully investing your assets will make you "wealthy elite" far quicker than waiting and hoping.

Good for you that you have the skills to trade successfully. I guess many here doesn't have these abilities or the time and patience to learn it.Risk to lose shouldn't be underestimated.And that's the reason everyone should do what he can do best to increase his BTC amount.

Your points are very valid, Denker.   A blanketted recommendation suggesting that the only way to accomplish meaningful gains is to trade your BTC (or any  other asset) is short-sighted and self-absorbed.

Every person needs to assess his/her own financial circumstances to ascertain risk, distribution and likely continue to tweak in the event that the totality of the investments are in fairly infant stages.


In this regard, building and hoarding BTC could be a very good strategy in light of the persons total distribution of investments, including considering the time horizon of the person.

On the other hand, if a portfolio becomes fairly well-distributed, and it has segments, such as BTC, that have become very profitable, then it may be prudent to take some of those profits; however, there seems to be likely considerable utility to continue to build the BTC portfolio, based on the overall expected value of that particular asset, in comparison to other fiat based assets that a person may hold (or have). 

In this regard, it seems prudent to continue to dollar cost average invest into BTC and to increase the overall accumulation of BTC while it is under $1,000 per BTC.  Surely, every person, while still accumulating, will need to decide for himself/herself, the extent to which s/he feels it is necessary to take some of the profits between $330 and $1,000.. and maybe even attempt trading and/or reinvesting - depending on the totality of the persons BTC holdings in comparison with other investments that s/he may have, etc.

i think you strategy is good but can't your statement about accumulating btc until it hits $1,000 also be construed as short sited and maybe self absorbed. how can you pick a arbitrary limit to an investment strategy like cost averaging...for you 1,000 may seem like an upper limit...to others just a starting point.  someone who is truly dollar averaging doesn't try to pick tops or bottoms...they just accumulate over time...at regular intervals.

I may have misspoke a little bit, because I was not really trying to box in any exact formula for potentially getting rich on bitcoins because each formula will be somewhat dependent and hopefully tailored to the individuals overall circumstances.

And, in that regard, there will certainly be individuals with a lot of philosophies including those who have no intention to invest any further into bitcoin, no matter what the price.

Yet, to some extent, I believe that several readers of this thread assume that the price of BTC is increasing, yet there may be quite a lot of variance concerning whether individuals believe that they should continue to invest or to rest on the amount that they already invested.  In that regard, even though was criticizing some of the points of Biomech, I agree with him that there is likely increased value to have an interactive plan with regard to bitcoin holdings, even though I was criticizing his apparent assessment that trading is the only way to really profit from bitcoin (and to put one's BTC investment to work).  Maybe in the end, I agree with a lot of his points, except I have some difficulties with his apparent assertion that trading is good for everyone, when in fact some BTC investors may not be at that stage of their BTC investment, and they may never really be comfortable with the concept or practice of trading their BTC holdings.

Forgive me, I didn't mean it as a blanket statement. I should have been more clear

I just have a disagreement with the "hodl" no matter what crowd. And yes, I do realize that a lot of them are just playing. My overall strategy (always evolving, of course) is to trade advantageously, and over time continue to increase my holdings, but to keep a large portion of it liquid and in motion. Accumulation for it's own sake holds no rewards for me, personally. Others may have very different overall goals than me. I'm both a cynical optimist, so I see a lot of roadblocks along the way. Obviously to most people, I intend to live a decent life. I also would like to become wealthy, and it is a goal, but in the near term, getting well above poor is a better one. I've not really achieved that, yet, but I've made pretty good strides in that direction. Because I've become a moderately good trader, I have improved the lifestyle of myself and my family, and that involves not holding a great deal AT THIS TIME, but slowly increasing the part that does just sit. I'm aiming for 10% of my profits to remain in BTC by the end of first quarter 2016. Whether I'll be able to achieve this remains to be seen.

I also had quite a bit of beer that night, and I'm not much of a drinker

[JayJuanGee]

I love this thread It never dies.

But of more substance, I have to disagree with the "hodl" crowd in most instances. I have gotten to the point where trading BTC is how I make the bulk of my living, and you pretty much have to play that day by day. On the most recent spike, I made really good money, but I make decent money every day. Money sitting in a vault does no good. It's purpose is trade, and that is how you increase your holdings.

Longer term, it's definitely a good play to have some BTC, dollars, diamonds, and etc. in storage, but not the bulk of it. Money in play, whatever form it's in, is where the profits are. And the losses, if we're to be honest, but carefully investing your assets will make you "wealthy elite" far quicker than waiting and hoping.

Good for you that you have the skills to trade successfully. I guess many here doesn't have these abilities or the time and patience to learn it.Risk to lose shouldn't be underestimated.And that's the reason everyone should do what he can do best to increase his BTC amount.

Your points are very valid, Denker.   A blanketted recommendation suggesting that the only way to accomplish meaningful gains is to trade your BTC (or any  other asset) is short-sighted and self-absorbed.

Every person needs to assess his/her own financial circumstances to ascertain risk, distribution and likely continue to tweak in the event that the totality of the investments are in fairly infant stages.


In this regard, building and hoarding BTC could be a very good strategy in light of the persons total distribution of investments, including considering the time horizon of the person.

On the other hand, if a portfolio becomes fairly well-distributed, and it has segments, such as BTC, that have become very profitable, then it may be prudent to take some of those profits; however, there seems to be likely considerable utility to continue to build the BTC portfolio, based on the overall expected value of that particular asset, in comparison to other fiat based assets that a person may hold (or have). 

In this regard, it seems prudent to continue to dollar cost average invest into BTC and to increase the overall accumulation of BTC while it is under $1,000 per BTC.  Surely, every person, while still accumulating, will need to decide for himself/herself, the extent to which s/he feels it is necessary to take some of the profits between $330 and $1,000.. and maybe even attempt trading and/or reinvesting - depending on the totality of the persons BTC holdings in comparison with other investments that s/he may have, etc.

i think you strategy is good but can't your statement about accumulating btc until it hits $1,000 also be construed as short sited and maybe self absorbed. how can you pick a arbitrary limit to an investment strategy like cost averaging...for you 1,000 may seem like an upper limit...to others just a starting point.  someone who is truly dollar averaging doesn't try to pick tops or bottoms...they just accumulate over time...at regular intervals.

I may have misspoke a little bit, because I was not really trying to box in any exact formula for potentially getting rich on bitcoins because each formula will be somewhat dependent and hopefully tailored to the individuals overall circumstances.

And, in that regard, there will certainly be individuals with a lot of philosophies including those who have no intention to invest any further into bitcoin, no matter what the price.

Yet, to some extent, I believe that several readers of this thread assume that the price of BTC is increasing, yet there may be quite a lot of variance concerning whether individuals believe that they should continue to invest or to rest on the amount that they already invested.  In that regard, even though was criticizing some of the points of Biomech, I agree with him that there is likely increased value to have an interactive plan with regard to bitcoin holdings, even though I was criticizing his apparent assessment that trading is the only way to really profit from bitcoin (and to put one's BTC investment to work).  Maybe in the end, I agree with a lot of his points, except I have some difficulties with his apparent assertion that trading is good for everyone, when in fact some BTC investors may not be at that stage of their BTC investment, and they may never really be comfortable with the concept or practice of trading their BTC holdings.

Forgive me, I didn't mean it as a blanket statement. I should have been more clear

I just have a disagreement with the "hodl" no matter what crowd. And yes, I do realize that a lot of them are just playing. My overall strategy (always evolving, of course) is to trade advantageously, and over time continue to increase my holdings, but to keep a large portion of it liquid and in motion. Accumulation for it's own sake holds no rewards for me, personally. Others may have very different overall goals than me. I'm both a cynical optimist, so I see a lot of roadblocks along the way. Obviously to most people, I intend to live a decent life. I also would like to become wealthy, and it is a goal, but in the near term, getting well above poor is a better one. I've not really achieved that, yet, but I've made pretty good strides in that direction. Because I've become a moderately good trader, I have improved the lifestyle of myself and my family, and that involves not holding a great deal AT THIS TIME, but slowly increasing the part that does just sit. I'm aiming for 10% of my profits to remain in BTC by the end of first quarter 2016. Whether I'll be able to achieve this remains to be seen.

I also had quite a bit of beer that night, and I'm not much of a drinker

I believe that it remains a very good plan to create some goals for yourself and to understand and expect that you may not be able to reach all of the goals.


Another important point is for BTC investors to recognize that their bitcoin investment is not (or at least should not be monolithic in nature).

So, for example, if a person earns all of his income in fiat, and for many of years of his life, he has made fiat dependent and related investments, then maybe he can afford to strategically aim to put a considerable amount of his additional income into BTC as a hedge against his various fiat investments... but such a hedge may take a considerable amount of time to build and then to assess comfort levels - whether if BTC ends up occupying less than 1% of his total quasi-liquid investments or 50% or some point in between.  Surely 1% is going to be much safer  and less volatile than 50%, but each of us needs to consider our own circumstances...

And, for another example, it may appear that a person is buying and hodling BTC, but in fact, some trade offs may be taking place in his life, even when it appears that the BTC portion of the portfolio is merely getting bigger and bigger, due to the appearance of buy and hodl.


Accordingly, a person may not specifically be prepared to trade or even to sell any of the BTC portion of his portfolio, until s/he assesses that the BTC portion of the portfolio has reached an adequate size... and/or other personal considerations. 

[Bitcoinpro]

Who?

yea who...I think ive seen before

could it have been John the VIP

sounds interesting but idk who it is

pulled the meme from skynet

[quentincole32]

i also think about it,i have the sense that this time around is not really going to be too much different from previous times,but for reach price like you imagine,its hard need some procces,but let us waiting for a huge movement of bitcoin.

[Searing]

posted this on another thread but this works here too I guess....(modest growth in price would not be bad imho)

To tell you the truth if it was not for the 1100 usd per btc bubble in 2013..when the Chinese folk went nuts and tried to move around 75 years of China under communism wealth out of the country ASAP....and or course mt.gox and some other scandals ...we'd be sitting pretty good now

oct 18th 2013 started my KNC Jupiter 550gh miner. I think it was 1 BTC a day (for a bit anyway) and that date $150 usd per BTC.

2014 say the ave was 250 usd per btc or so (ouch year)

2015 it is now end of the year and it is 350 usd per btc

hell if not for the china bubble and the scandals we'd be kicking ass now imho around 1000 usd per btc..but drama occurs on all 'births' or so I've been told


so slow and steady in the above manner (as adoption) works just fine imho

[shamati]

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?

Go to desert island and hide in forest. Not return for days  

[Searing]

Well the below article on Forbes surely is relevant to this thread here

http://www.forbes.com/sites/laurashin/2015/12/11/should-you-invest-in-bitcoin-10-arguments-in-favor-as-of-december-2015/

nice to see some legit business magazines at least 'acknowledging' the possibility of 17k coin in 2025! (Be still my heart I have over 100 BTC).


It is also nice imho that things have changed since 2013 when I would mention BTC and it was (oh you sell drugs) and BTC was a giant Ponzi everyone thought
to now in 2015 ..when at least (if they still think I'm crazy as hell) now BTC is a 'risky speculative investment"

well I'll take what progress I can with the public view on bitcoin I guess ..but man I liked the above article not so much for what it said ..but for the fact
it came from Forbes and not a site like coinbase etc......spread the joy/info is my view of good signs ahead

[DimensionZ]

I am wondering if entrepreneurs like Elon Musk are buying bitcoins silently and moving the world markets up and down lol

[crazyivan]

Well the below article on Forbes surely is relevant to this thread here

http://www.forbes.com/sites/laurashin/2015/12/11/should-you-invest-in-bitcoin-10-arguments-in-favor-as-of-december-2015/

nice to see some legit business magazines at least 'acknowledging' the possibility of 17k coin in 2025! (Be still my heart I have over 100 BTC).


It is also nice imho that things have changed since 2013 when I would mention BTC and it was (oh you sell drugs) and BTC was a giant Ponzi everyone thought
to now in 2015 ..when at least (if they still think I'm crazy as hell) now BTC is a 'risky speculative investment"

well I'll take what progress I can with the public view on bitcoin I guess ..but man I liked the above article not so much for what it said ..but for the fact
it came from Forbes and not a site like coinbase etc......spread the joy/info is my view of good signs ahead

Good stuff. I really think this latest price increase is different from the last big one, which was purely speculative. In addition to daytraders, it seems we have much more BTC related services and demand now which creates demand and slowly pushes the price up. Guess what s gonna happen when BTC block halves.

[partysaurus]

Thanks for the intressting read. Nice to see bitcoins getting some more hype

[Decoded]

Thanks for the interesting info. It's hard to believe people actually used bitcoin so long ago. Does anyone know edgy this guy is identified as "Anonymous"? Since when could you delete an account?!

[QuestionAuthority]

Thanks for the interesting info. It's hard to believe people actually used bitcoin so long ago. Does anyone know edgy this guy is identified as "Anonymous"? Since when could you delete an account?!

https://bitcointalk.org/index.php?topic=12156.msg13048044#msg13048044

[Denker]

I am wondering if entrepreneurs like Elon Musk are buying bitcoins silently and moving the world markets up and down lol

Why not.He is a visionar and likes to take risks.He was one of the inventors of paypal.He would understand pretty quick what Bitcoin is and how it works I believe.
As an entrepreneur and loving it to be ahead in techs and technologies I think it is not that unlikely that he already owns a few BTC. Would be cool.

[pereira4]

17k a coin by 2025 is nothing, they are being way too conservative to save face in case it doesn't get as high, but it will get way higher. By then the halving after 2016 will be happening which is when coin generation will get really step, if you look at the halving graphic you can see this. By 2027 the price will be higher than anyone can imagine now.

[Mr. Forum]

I agree with you buddy. However, this will be very true if at all bitcoins is accepted in most of the countries in the world. This will make the demand to increase and then result to increased cost of each and every coin. I am a person who love real estate and am sure when I have an opportunity where my coins will has a a massive growth, then I will pump them into the real estate project I am running now. It is all about investment buddy.

[QuestionAuthority]

Everyone is interested in figuring out their future as wealthy elite. Ever think about how welfare payments for those non-visionaries will be handled in this brave new world? I suppose we can just do what Native Americans used to do and put our elderly on rafts and let the current carry them to the waterfall. lol

[rjclarke2000]

Everyone, no matter how tough a background has a chance to be a visionary.

[virtualx]

17k a coin by 2025 is nothing, they are being way too conservative to save face in case it doesn't get as high, but it will get way higher. By then the halving after 2016 will be happening which is when coin generation will get really step, if you look at the halving graphic you can see this. By 2027 the price will be higher than anyone can imagine now.

If it reaches 17.000$ a coin by 2025 many of us will be wealthy.  In 10 years time many things can change a lot..

[RealBitcoin]

Everyone is interested in figuring out their future as wealthy elite. Ever think about how welfare payments for those non-visionaries will be handled in this brave new world? I suppose we can just do what Native Americans used to do and put our elderly on rafts and let the current carry them to the waterfall. lol

Thats bullshit. All old people can still work and if the pension system fails, they can find jobs on the internet which are physically not burdening and can earn them income after the pension ponzi scheme collapses.

Bitcoin is the medicine not the poison. The poison was fiat, that poisoned us for hundreds of years.

The medicine might taste sour first, but it will heal us in the end.