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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 507949 times)
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December 16, 2015, 05:58:30 AM
 #3121

I am kinda late to the party so to speak but it's better late than never right. Hope to have something to hold onto in 2016.

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December 16, 2015, 06:53:42 AM
 #3122

There is a great possibility it reaches 17000 per BTC, however no one knows.... I personally would be happy to see BTC stay low around the 300 - 400 USD mark so i could aim to buy around 10 for next year.

But that is very unlikely to happen. What you're wishing is that Bitcoin should stay stagnant for the next 10 years regarding the price.
Bitcoin will be either value way higher as now or it will be zero.
Just buy everytime you have some money left.

I think BTC has a lot of growth (keep in mind inflation is ridiculous and WILL absolutely impact BTC), but it will take a long time. We are hitting strong downward pressure after every $10. If we even get to 600, it's going to be a huge wall. Then 650, 700, 750... -> ATH. And after the ATH it's going to be one wall after another.

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December 16, 2015, 08:09:30 AM
 #3123

There is a great possibility it reaches 17000 per BTC, however no one knows.... I personally would be happy to see BTC stay low around the 300 - 400 USD mark so i could aim to buy around 10 for next year.

But that is very unlikely to happen. What you're wishing is that Bitcoin should stay stagnant for the next 10 years regarding the price.
Bitcoin will be either value way higher as now or it will be zero.
Just buy everytime you have some money left.

I think BTC has a lot of growth (keep in mind inflation is ridiculous and WILL absolutely impact BTC), but it will take a long time. We are hitting strong downward pressure after every $10. If we even get to 600, it's going to be a huge wall. Then 650, 700, 750... -> ATH. And after the ATH it's going to be one wall after another.

ATH  coming Jan 2016. And it wont be hard to get there.
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December 16, 2015, 08:40:41 AM
 #3124

There is a great possibility it reaches 17000 per BTC, however no one knows.... I personally would be happy to see BTC stay low around the 300 - 400 USD mark so i could aim to buy around 10 for next year.

But that is very unlikely to happen. What you're wishing is that Bitcoin should stay stagnant for the next 10 years regarding the price.
Bitcoin will be either value way higher as now or it will be zero.
Just buy everytime you have some money left.

I think BTC has a lot of growth (keep in mind inflation is ridiculous and WILL absolutely impact BTC), but it will take a long time. We are hitting strong downward pressure after every $10. If we even get to 600, it's going to be a huge wall. Then 650, 700, 750... -> ATH. And after the ATH it's going to be one wall after another.

ATH  coming Jan 2016. And it wont be hard to get there.

Don't entirely disagree..but imho it will be all due to China folk again...thus a bubble...if we are lucky 1000 then back to 450 500 after it dumps out (assuming that china leaves the party again ie bubble)..I just don't see enough adoption or killer apps out there in the rest of the world for it to be otherwise...china folk for whatever reason are way ahead on this..thus fad status kinda sorta on how to get $$$ out of china asap while the party lasts....well does not seem to me to be long term at 1000 and above kinda growth

I hope I'm wrong and I'll take it...but just saying could be a rinse/wash/repeat of 2013 etc with no other worldwide adoption to hold it at that 1000 buck price Sad

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December 16, 2015, 01:46:24 PM
 #3125

There is a great possibility it reaches 17000 per BTC, however no one knows.... I personally would be happy to see BTC stay low around the 300 - 400 USD mark so i could aim to buy around 10 for next year.

But that is very unlikely to happen. What you're wishing is that Bitcoin should stay stagnant for the next 10 years regarding the price.
Bitcoin will be either value way higher as now or it will be zero.
Just buy everytime you have some money left.

I think BTC has a lot of growth (keep in mind inflation is ridiculous and WILL absolutely impact BTC), but it will take a long time. We are hitting strong downward pressure after every $10. If we even get to 600, it's going to be a huge wall. Then 650, 700, 750... -> ATH. And after the ATH it's going to be one wall after another.

ATH  coming Jan 2016. And it wont be hard to get there.

Don't entirely disagree..but imho it will be all due to China folk again...thus a bubble...if we are lucky 1000 then back to 450 500 after it dumps out (assuming that china leaves the party again ie bubble)..I just don't see enough adoption or killer apps out there in the rest of the world for it to be otherwise...china folk for whatever reason are way ahead on this..thus fad status kinda sorta on how to get $$$ out of china asap while the party lasts....well does not seem to me to be long term at 1000 and above kinda growth

I hope I'm wrong and I'll take it...but just saying could be a rinse/wash/repeat of 2013 etc with no other worldwide adoption to hold it at that 1000 buck price Sad

I think that's the most rational thing anyone has said it in this thread yet. Any increase in price at this point will be short lived and the roller coaster isn't at the end of the tracks yet. Bitcoin is so tiny still that just about anyone with a substantial amount of money can move the market. The Chinese are having good fun playing with Bitcoin right now. What's going to happen when they decide to move on to something new? We have lots of bubbles left to go.

The market cap of Bitcoin is a whopping $6.5 billion. That's a tiny amount of money compared to even individual businesses, which makes discussing it as a national currency a serious fantasy. For comparison here's the amount of money that a few large companies hide off shore and these companies are worth way more than this:

Apple $111.3 billion
General Electric $110 billion
Microsoft $92.9 billion
Pfizer $69 billion
Merck $57.1 billion
IBM  $52.3 billion
Johnson & Johnson $50.9 billion

Any of the above could buy every cryptocurrency in existence multiple times with just the money they're hiding from the US tax authority.

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December 16, 2015, 03:43:30 PM
 #3126


I think that's the most rational thing anyone has said it in this thread yet. Any increase in price at this point will be short lived and the roller coaster isn't at the end of the tracks yet. Bitcoin is so tiny still that just about anyone with a substantial amount of money can move the market. The Chinese are having good fun playing with Bitcoin right now. What's going to happen when they decide to move on to something new? We have lots of bubbles left to go.

They wont go anywhere given the capital controls there, bitcoin is a hedge against fiat, and so far fiat is getting worse and worse every day.

Capital controls, impending hyperinflation, and huge regulations. Nope bitcoin is still nr 1.




The market cap of Bitcoin is a whopping $6.5 billion. That's a tiny amount of money compared to even individual businesses, which makes discussing it as a national currency a serious fantasy. For comparison here's the amount of money that a few large companies hide off shore and these companies are worth way more than this:


And the ECB is printing trillions of euros, not to mention the impending negative interest rates that will hyper-expand the currency supply.

That 6.5 billion $ is secured, and wont lose it's value. The rest of them are getting eroded by the minute.

Other dollar bills will flee to bitcoin to avoid erosion Wink

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December 16, 2015, 07:37:50 PM
 #3127


I think that's the most rational thing anyone has said it in this thread yet. Any increase in price at this point will be short lived and the roller coaster isn't at the end of the tracks yet. Bitcoin is so tiny still that just about anyone with a substantial amount of money can move the market. The Chinese are having good fun playing with Bitcoin right now. What's going to happen when they decide to move on to something new? We have lots of bubbles left to go.

They wont go anywhere given the capital controls there, bitcoin is a hedge against fiat, and so far fiat is getting worse and worse every day.

Capital controls, impending hyperinflation, and huge regulations. Nope bitcoin is still nr 1.




The market cap of Bitcoin is a whopping $6.5 billion. That's a tiny amount of money compared to even individual businesses, which makes discussing it as a national currency a serious fantasy. For comparison here's the amount of money that a few large companies hide off shore and these companies are worth way more than this:


And the ECB is printing trillions of euros, not to mention the impending negative interest rates that will hyper-expand the currency supply.

That 6.5 billion $ is secured, and wont lose it's value. The rest of them are getting eroded by the minute.

Other dollar bills will flee to bitcoin to avoid erosion Wink

You do realize btc is denominated in fiat and the number of businesses where you can spend them directly or trade them for fiat worldwide is infinitesimally small, right? Are you high? Bitcoin is secured by nothing. Historically, the favorite assets for hedging against inflation have been gold, property and recently Inflation-indexed securities. These assets increase in value in very close correlation to the value of money. Bitcoin does not. Bitcoin increases in value when some fat latte drinking French bastard cheats his exchange with custom written bots. In fact, I've never seen any proof that shows all the exchanges aren't doing the same thing. The ground underneath Bitcoin is like walking on jello. I love Bitcoin but ones survival requires living in the land of reality.

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December 16, 2015, 07:45:52 PM
 #3128


You do realize btc is denominated in fiat and the number of businesses where you can spend them directly or trade them for fiat worldwide is infinitesimally small, right?

It will grow.


Are you high?

No.


Bitcoin is secured by nothing.

It's secured by demand, just like anything else.



 Historically, the favorite assets for hedging against inflation have been gold, property and recently Inflation-indexed securities. These assets increase in value in very close correlation to the value of money.

Gold is heavily manipulated. Estate will probably crash with the bond trash, since it has been pumped up massively. I would not invest alot in those, unless you are in an undeveloped country.


Bitcoin does not. Bitcoin increases in value when some fat latte drinking French bastard cheats his exchange with custom written bots. In fact, I've never seen any proof that shows all the exchanges aren't doing the same thing. The ground underneath Bitcoin is like walking on jello. I love Bitcoin but ones survival requires living in the land of reality.

That was 2013, you missed out 2 years. In the last 2 years bitcoin grow alot and became more serious than just a few scammers make you believe.

Most current exchanges are somewhat regulated, but for what it's worth, they are more decentralized, so they cant cause that much hard again as gox did.

The ground under bitcoin is just now developing, give more 3-4 years and you will see serious breakthroughts.

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December 16, 2015, 08:05:18 PM
 #3129

2013? Yeah, ok. Whatever makes you sleep at night.

http://www.bitcoinfuturesguide.com/bitcoin-blog/is-there-fake-trading-volume-on-bitstamp

http://www.coindesk.com/huobi-ceo-addresses-fake-trading-volume-rumours/

http://www.coindesk.com/chinese-bitcoin-exchange-okcoin-accused-faking-trading-data/


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December 16, 2015, 08:10:26 PM
 #3130


Well there are already works on that bip 65 or whatever, that will integrate a new feature that will allow decentralized exchanges.

Your username is questioning authority, but then you are submitting yourself to corrupt exchanges. The free market is better than that. The ultimate decentralization, is automation via blockchain.

So to completely avoid human risk and wrongdoing, a decentralized exchange is needed, which will be out by next year. I`m looking forward to it.

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December 17, 2015, 04:28:53 AM
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Well there are already works on that bip 65 or whatever, that will integrate a new feature that will allow decentralized exchanges.

Your username is questioning authority, but then you are submitting yourself to corrupt exchanges. The free market is better than that. The ultimate decentralization, is automation via blockchain.

So to completely avoid human risk and wrongdoing, a decentralized exchange is needed, which will be out by next year. I`m looking forward to it.

I question how viable decentralized ones are, though, due to the slower trading and such. It's going to be interesting to see...

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December 17, 2015, 08:58:49 AM
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I question how viable decentralized ones are, though, due to the slower trading and such. It's going to be interesting to see...

Well they can easily find a solution. NXT has already built an exchange on itself, both currency and asset. It should be no harder than that.

1 problem though is that bitcoin takes 10 min to mine, I think a 5 min target would be better, because Even DOGE with 1 min time is not having any problems, so BTC should be at least 5 min, but otherwise it will take longer to confirm.


So a BTC -> NXT transaction might take 11 minutes, which is slow.

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December 18, 2015, 05:47:03 AM
 #3133


I question how viable decentralized ones are, though, due to the slower trading and such. It's going to be interesting to see...

Well they can easily find a solution. NXT has already built an exchange on itself, both currency and asset. It should be no harder than that.

1 problem though is that bitcoin takes 10 min to mine, I think a 5 min target would be better, because Even DOGE with 1 min time is not having any problems, so BTC should be at least 5 min, but otherwise it will take longer to confirm.


So a BTC -> NXT transaction might take 11 minutes, which is slow.

While I think NXT is good for some things, it is ridiculously slow due to how it works. Plus you're paying to list your coins for sale (or assets), which makes you be much more cautious since you can't keep re-listing to keep up with the market without losing a lot of money/time.

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December 18, 2015, 06:27:46 PM
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I question how viable decentralized ones are, though, due to the slower trading and such. It's going to be interesting to see...

Well they can easily find a solution. NXT has already built an exchange on itself, both currency and asset. It should be no harder than that.

1 problem though is that bitcoin takes 10 min to mine, I think a 5 min target would be better, because Even DOGE with 1 min time is not having any problems, so BTC should be at least 5 min, but otherwise it will take longer to confirm.


So a BTC -> NXT transaction might take 11 minutes, which is slow.
I'm curious how NXT will react to the development of bitcoin's Lightning Network.
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December 18, 2015, 10:19:48 PM
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While I think NXT is good for some things, it is ridiculously slow due to how it works. Plus you're paying to list your coins for sale (or assets), which makes you be much more cautious since you can't keep re-listing to keep up with the market without losing a lot of money/time.

I dont know but NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

I think if bitcoin block time gets faster, then NXT will also benefit from that.

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December 19, 2015, 12:20:19 AM
 #3136

NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

If the use case is an exchange that enables day trading, 1 minute is an eternity to some.

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December 19, 2015, 12:20:49 AM
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Yup I still hate this thread. And still believe it should be locked down for eternity. Circle-jerking is not most becoming of a real gentleman.

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December 19, 2015, 12:29:05 AM
 #3138


While I think NXT is good for some things, it is ridiculously slow due to how it works. Plus you're paying to list your coins for sale (or assets), which makes you be much more cautious since you can't keep re-listing to keep up with the market without losing a lot of money/time.

I dont know but NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.

I think if bitcoin block time gets faster, then NXT will also benefit from that.

Faster block time doesn't solve anything, it only makes it less secure. Which means you need more blocks for the same security and there is much more risk of orphaned blocks or conflicting chains.

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December 19, 2015, 12:51:20 AM
 #3139

NXT is pretty fast, it has 1 min block time, compared to 10min in btc, so i dont know what your talking about.


Think about the stress testes with 1 min block time, the hell it would be.

Faster blocks mean less resistance to spam attacks too

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December 19, 2015, 06:02:10 AM
 #3140

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 really agree with that tittle,"bitcoin is the economic singularity"
yes because bitcoin have special place on world economic,bitcoin is different,and i'm also agree if we are the next wealth gentelman,and its just how we can use this chance to be real wealth man. i wish i can use this chance to safe some money for future.

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