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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 609463 times)
shamzblueworld
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January 03, 2017, 04:45:28 AM
 #3461

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?
Wow! Amazed that this was wrote more than 5 years ago. I'm sure you guys must be quite rich now.
But for us newbies, not there yet. It will take much more to own 10 BTC now, but hopefully we will reach that mark and then I think we will be quite rich as well.
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January 03, 2017, 06:36:17 AM
 #3462

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?

Post on 2011 and now 2017. Black market, Dark net etc make this bitcoin growing high.
You're right OP, but not $10.000 yet. Sad i came to this forum too late.
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January 03, 2017, 06:58:09 AM
 #3463

Yup. I miss 2011/12, despite all the scams and crazy looks I'd get from respectable people when I mentioned bitcoin to them. Smiley

Vladimir club, anybody? ;-) I miss him too...

(In case you are wondering, hold 2100 coins to have 1/10000th of all coins possibly available. Nice advice, in hindsight)


Yeah/.... one thing is holding 2100 coins and another thing is managing them for 5 of the subsequent years....

But in hindsight we can see that if you had 2100 coins in 2011, you could have liquidated 100 coins per year and still been o.k with about 1500 coins, currently.  Not the best management, but somewhat plausible and reasonable.

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January 03, 2017, 07:04:40 AM
 #3464

You're right OP, but not $10.000 yet. Sad i came to this forum too late.

No. You are not late.

Right now, only around 1 million individuals use Bitcoins. And remember that the world population stands at around 7 billion right now. Less than 0.02% of the humans are using BTC.

Imagine what could happen if BTC becomes popular. Imagine the market cap, if we could have 1 billion users!


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January 03, 2017, 07:22:07 AM
 #3465

You're right OP, but not $10.000 yet. Sad i came to this forum too late.

No. You are not late.

Right now, only around 1 million individuals use Bitcoins. And remember that the world population stands at around 7 billion right now. Less than 0.02% of the humans are using BTC.

Imagine what could happen if BTC becomes popular. Imagine the market cap, if we could have 1 billion users!



Even just buying 1 BTC for $1,000 would be a decent hedge, it seems.

Although it would probably be better to buy more than 1 so you could have room to use them here and there along the way... and even to dollar cost average from here on out would not be a bad idea.

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January 03, 2017, 08:17:02 AM
 #3466

I would now include ladies into the mix, not just gentlemen. I only heard about bitcoin and other digital currencies firstly through my Wife so women should be included. I do not think it is too late to visualize some wealth creation., We have a marketcap x 10 to reach before bitcoin reaches 10k usd level, so we have some time still to build some wealth.

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January 03, 2017, 08:34:05 AM
 #3467

I would now include ladies into the mix, not just gentlemen. I only heard about bitcoin and other digital currencies firstly through my Wife so women should be included. I do not think it is too late to visualize some wealth creation., We have a marketcap x 10 to reach before bitcoin reaches 10k usd level, so we have some time still to build some wealth.

Any rebranding would screw up the whole thread and the whole idea, and the expression that has been created around it..

If you want to include ladies, then if you happen to be a lady, you can still assert that this is gentlemen (referring to yourself), what is wrong with that?

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January 03, 2017, 10:18:54 AM
 #3468

You're right OP, but not $10.000 yet. Sad i came to this forum too late.

No. You are not late.

Right now, only around 1 million individuals use Bitcoins. And remember that the world population stands at around 7 billion right now. Less than 0.02% of the humans are using BTC.

Imagine what could happen if BTC becomes popular. Imagine the market cap, if we could have 1 billion users!



Even just buying 1 BTC for $1,000 would be a decent hedge, it seems.

Although it would probably be better to buy more than 1 so you could have room to use them here and there along the way... and even to dollar cost average from here on out would not be a bad idea.

i think i agree with you both, i hope bitcoin price will grow higher than $1,000 lol
yes still many people didnt know about bitcoin, gonna promote bitcoin to other people in my country, then the price will more than $1k Smiley
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January 03, 2017, 12:02:59 PM
 #3469

I would have been wealthy by now if two developers hadn't scammed me, one was the stepscoin developer and another coin developer stole 18 bitcoins from me. It will take me a long time to recover but am hoping now I am making healthier investment choices, I can get it all back one day.


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January 03, 2017, 08:43:38 PM
 #3470

I would have been wealthy by now if two developers hadn't scammed me, one was the stepscoin developer and another coin developer stole 18 bitcoins from me. It will take me a long time to recover but am hoping now I am making healthier investment choices, I can get it all back one day.

ouch. that... ouch.

course i'm sitting here with something like 4 BTC debt to a fellow forumite from a few loans several years ago... it was about 360 when i borrowed. Sad
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January 03, 2017, 09:13:45 PM
 #3471

I would have been wealthy by now if two developers hadn't scammed me, one was the stepscoin developer and another coin developer stole 18 bitcoins from me. It will take me a long time to recover but am hoping now I am making healthier investment choices, I can get it all back one day.

ouch. that... ouch.

course i'm sitting here with something like 4 BTC debt to a fellow forumite from a few loans several years ago... it was about 360 when i borrowed. Sad

I personally believe these are reasons why each of us need to attempt some moderation in our approach and to not put all of our eggs in one basket.

Sure, I believe that some of the early adopters of bitcoin had leveraged and gambled greatly by purchasing a lot of coins, and that risk paid off greatly - however, that kind of mindset is going to be likely to backfire on you, if you keep doing it.  Frequently, such a tactic is referred to as the Martingale method - and statistically it does not pay off.

I am not opposed to gambling with a portion of your holdings (maybe less than 20% - even though I would refrain from doing that much), but you gotta consider a solid plan, such as dollar cost averaging and just socking that money away without thinking about it.  So in the case of bitcoin that means accumulating bitcoin with whatever budget that you have (whether that is $10 a week or $100 a week) and don't be taking major risks that are going to likely result in losing large amounts of your coins.

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January 03, 2017, 09:27:29 PM
 #3472

I would have been wealthy by now if two developers hadn't scammed me, one was the stepscoin developer and another coin developer stole 18 bitcoins from me. It will take me a long time to recover but am hoping now I am making healthier investment choices, I can get it all back one day.

ouch. that... ouch.

course i'm sitting here with something like 4 BTC debt to a fellow forumite from a few loans several years ago... it was about 360 when i borrowed. Sad

I personally believe these are reasons why each of us need to attempt some moderation in our approach and to not put all of our eggs in one basket.

Sure, I believe that some of the early adopters of bitcoin had leveraged and gambled greatly by purchasing a lot of coins, and that risk paid off greatly - however, that kind of mindset is going to be likely to backfire on you, if you keep doing it.  Frequently, such a tactic is referred to as the Martingale method - and statistically it does not pay off.

I am not opposed to gambling with a portion of your holdings (maybe less than 20% - even though I would refrain from doing that much), but you gotta consider a solid plan, such as dollar cost averaging and just socking that money away without thinking about it.  So in the case of bitcoin that means accumulating bitcoin with whatever budget that you have (whether that is $10 a week or $100 a week) and don't be taking major risks that are going to likely result in losing large amounts of your coins.

moderation in all things is one of the better bits of advice i've ever heard from anyone. i see no reason nt to apply it to finances either.

insert "without great risk, there is no great reward" to counter that... but ya know, while i used to get wide eyed at the potential of quick riches with bitcoin, i'm perfectly ok with moderate rewards nowadays.
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January 03, 2017, 10:07:54 PM
 #3473

Pretty crazy reading back to the OP.   During that time until now, there has been the run up to $1200 back in 12/13 (or so), and then the drop all the way back down to around $160.  Now we are steadily approaching those all time highs again.  This run up has a different feel since the volatility has gotten less over time.

 Each year in bitcoin seems like a decade for other financial industries.  
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January 03, 2017, 10:40:56 PM
 #3474

I would have been wealthy by now if two developers hadn't scammed me, one was the stepscoin developer and another coin developer stole 18 bitcoins from me. It will take me a long time to recover but am hoping now I am making healthier investment choices, I can get it all back one day.

ouch. that... ouch.

course i'm sitting here with something like 4 BTC debt to a fellow forumite from a few loans several years ago... it was about 360 when i borrowed. Sad

I personally believe these are reasons why each of us need to attempt some moderation in our approach and to not put all of our eggs in one basket.

Sure, I believe that some of the early adopters of bitcoin had leveraged and gambled greatly by purchasing a lot of coins, and that risk paid off greatly - however, that kind of mindset is going to be likely to backfire on you, if you keep doing it.  Frequently, such a tactic is referred to as the Martingale method - and statistically it does not pay off.

I am not opposed to gambling with a portion of your holdings (maybe less than 20% - even though I would refrain from doing that much), but you gotta consider a solid plan, such as dollar cost averaging and just socking that money away without thinking about it.  So in the case of bitcoin that means accumulating bitcoin with whatever budget that you have (whether that is $10 a week or $100 a week) and don't be taking major risks that are going to likely result in losing large amounts of your coins.

moderation in all things is one of the better bits of advice i've ever heard from anyone. i see no reason nt to apply it to finances either.

insert "without great risk, there is no great reward" to counter that... but ya know, while i used to get wide eyed at the potential of quick riches with bitcoin, i'm perfectly ok with moderate rewards nowadays.


Well, surely each of us needs to weigh his/her own situation, and there is certainly some truth to the fact that someone who is a lot younger may be able to put a lot more on the table in terms of betting "it all" as compared with someone who is older and preparing for retirement (in which there may not be as many ways or a longer timeline to recover losses or to be able to start over).   

So, I am not necessarily suggesting that 100% moderation is going to be applicable to everyone, and also certainly there are some personality differences in terms of willingness to take risks, and there will be some needs to take some risks (sometimes) in order to experience payoffs that may not otherwise be possible.

So in that regard, there may be a variety of ways to approach the matter and to consider the possible outcomes of what you are doing and to attempt to protect yourself for a variety of potential outcomes.


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February 21, 2017, 03:35:57 PM
 #3475

Loving always the title of this thread...

1100 today....
predictions of 3000 by year's end.

 Grin

Learn to listen, listen to learn.
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February 21, 2017, 05:05:38 PM
 #3476

God thinking about what the price was like in 2011 which was probably around the price of  $1-30 USD per coin and what it is now really makes you disgusted on the amount of money that could've been made if you bought bitcoin instead of an XBOX or any other christmas gift that you wanted.  Makes me really think about what I've been doing with my money for all this time.

Plus OP, if you're reading this 6 years later you must know what if you bought 100 coins back then you're doing pretty well for yourself.

Loving always the title of this thread...

1100 today....
predictions of 3000 by year's end.

 Grin

I'm thinking more along the lines of 1000-1400 range and I hope it stays like that as I just bought.



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February 21, 2017, 05:32:36 PM
 #3477

God thinking about what the price was like in 2011 which was probably around the price of  $1-30 USD per coin and what it is now really makes you disgusted on the amount of money that could've been made if you bought bitcoin instead of an XBOX or any other christmas gift that you wanted.  Makes me really think about what I've been doing with my money for all this time.

isn't that the best financial advice: stop wasting your money on liabilities and start buying assets?
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February 23, 2017, 06:46:02 PM
 #3478

Ok, I'll jinx it. Bump.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
Cryptoasset rankings and metrics for investors: http://onchainfx.com
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February 24, 2017, 12:20:25 AM
 #3479

God thinking about what the price was like in 2011 which was probably around the price of  $1-30 USD per coin and what it is now really makes you disgusted on the amount of money that could've been made if you bought bitcoin instead of an XBOX or any other christmas gift that you wanted.  Makes me really think about what I've been doing with my money for all this time.

isn't that the best financial advice: stop wasting your money on liabilities and start buying assets?

You are right - that always applies.  Even if you don't get the return that bitcoin has had since 2010/2011 (let alone 2009), assets over time are much preferred to liabilities.

Your future depends on the choices you make now, so might as well make good ones.
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February 24, 2017, 12:28:16 AM
 #3480

God thinking about what the price was like in 2011 which was probably around the price of  $1-30 USD per coin and what it is now really makes you disgusted on the amount of money that could've been made if you bought bitcoin instead of an XBOX or any other christmas gift that you wanted.  Makes me really think about what I've been doing with my money for all this time.

isn't that the best financial advice: stop wasting your money on liabilities and start buying assets?
Typically the definition of "asset" is very loosely defined, and there are a lot of things that you can define an asset, and, in my opinion, that definition changes from person to person.

In a nutshell though, you are right when you say that it is best to stop buying things that drain wealth without being able to retain a lot of their value. Something like a car is a relatively hotly debated topic as to whether it is a liability or asset. With Uber and everything now, I would lean towards asset.














 

 

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