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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 594672 times)
Yakamoto
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February 24, 2017, 12:28:16 AM
 #3481

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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February 24, 2017, 12:32:11 AM
 #3482

Ok, I'll jinx it. Bump.
Nothing can jinx this one up.
Not this time.
There are too many factors involved that are looking in it's favor.
The China exchanges are going by the way side with Bitfinex being the nail in the coffin for them whether they can manage to recover from what happened to them now.
Etf is getting approval and SEC even told them ahead of schedule they have done so with even knowing the price was to rise to it's levels today since the 14th of this month.
And there are 7 new planets in a solar system that can hold life.
So the cosmic alignment is complete with bitcoin busting out and running long time fury now!
At $1182 and beyond to who knows where it's going to now!
cr1776
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February 24, 2017, 12:33:43 AM
 #3483

By the way, since Atlas' link above no longer works, I think this is a better one.  Some of the comments below it sound like everything I read between august 2010 and today from people who keep predicting destruction.


Archive.org:
http://web.archive.org/web/20110630101150/http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity
Or:
http://themonetaryfuture.blogspot.com/2011/06/bitcoin-is-economic-singularity.html
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February 24, 2017, 02:35:36 AM
 #3484

By the way, since Atlas' link above no longer works, I think this is a better one.  Some of the comments below it sound like everything I read between august 2010 and today from people who keep predicting destruction.


Archive.org:
http://web.archive.org/web/20110630101150/http://astrohacker.com/ahc/bitcoin-is-the-economic-singularity
Or:
http://themonetaryfuture.blogspot.com/2011/06/bitcoin-is-economic-singularity.html

such a prophetic post. I wonder if that guy is millionaire right now.


 
 
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Paashaas
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February 24, 2017, 02:55:45 AM
 #3485

OP prediction is still on track, slow but steady!
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February 24, 2017, 10:02:48 PM
 #3486

I'm always thinking about that guy celebrating Bitcoin by buying pizza .. I cannot imagine how bad he should feel right now, that was $10 MILLION. If the pizza shop still has that amount.... The owner should be on an island with everything he wants right now!

The 10k BTC pizza deal involved one bitcoiner paying another bitcoiner 10k BTC to buy him a couple of pizzas. No pizza shop accepted BTC back then.

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February 25, 2017, 03:17:49 AM
 #3487

11.8 million at current prices... but yea.

which reminds me that in 2013 i had 10 coin i sold to my brother - at 100 a piece. :|
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February 25, 2017, 06:34:09 AM
 #3488

11.8 million at current prices... but yea.
which reminds me that in 2013 i had 10 coin i sold to my brother - at 100 a piece. :|

Thankfully, I found out about Bitcoin after the boom and bust of 2013.
I have not seen any heart-breaking busts, but no big booms either. If we break out of this current trading range, it will be something.

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February 25, 2017, 06:55:36 AM
 #3489

All I care about is paying college loans. If this can do that, I will be a happy panda.

kkk
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February 25, 2017, 12:13:03 PM
 #3490

11.8 million at current prices... but yea.

which reminds me that in 2013 i had 10 coin i sold to my brother - at 100 a piece. :|

I would have been happy if i had bought at the beginning of 2013 , when bitcoin was at 4$, instead of during the first ATH and downtrend... Cry

Learn to listen, listen to learn.
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February 25, 2017, 02:24:07 PM
 #3491

I would have been happy if i had bought at the beginning of 2013 , when bitcoin was at 4$, instead of during the first ATH and downtrend... Cry

Why? The first ATH was less than $0.01. I would rather have bought then.

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February 25, 2017, 03:16:13 PM
 #3492

I always ask myself why I stopped mining from my desktop computer back in 2011. I did not have any clue about how this worked and I thought like this was going to end quickly. I've probably lost quite a few coins  Roll Eyes


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February 25, 2017, 04:44:46 PM
 #3493

Everyone always talks about how the pizza guy or anyone else from early on is super rich and can buy an island.

But if you notice many times during these run ups, from $1 to $32, $10 to $266, $125 to $1216, $800 to $1220...there are always some huge dumps all at once on the way up.

That's just another early adopter dumping their bitcoins on the market to sell out to the world of fiat. Whoever had 10,000 bitcoins back then have likely sold it. Hell, maybe they sold them all when the price reached $1 and considered it a great investment.

Bitcoin is a depreciating currency. It will always go up.

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February 25, 2017, 05:12:58 PM
 #3494

.there are always some huge dumps all at once on the way up.

That's just another early adopter dumping their bitcoins on the market to sell out to the world of fiat.

watching the market sometimes, this what i love about it. early adopters, whales or whoever else dumps those large amounts at once, means a big chance for all the rest of the world to get more coins in their pockets.

in other words instead of one guy having 10,000BTC we can have a better spread and have 100 guys having 100BTC each. and there is a very limited supply available.

how much other people see this as opportunity is another discussion though.

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February 25, 2017, 05:21:01 PM
 #3495

Everyone always talks about how the pizza guy or anyone else from early on is super rich and can buy an island.

But if you notice many times during these run ups, from $1 to $32, $10 to $266, $125 to $1216, $800 to $1220...there are always some huge dumps all at once on the way up.

That's just another early adopter dumping their bitcoins on the market to sell out to the world of fiat. Whoever had 10,000 bitcoins back then have likely sold it. Hell, maybe they sold them all when the price reached $1 and considered it a great investment.

Bitcoin is a depreciating currency. It will always go up.

i agree with this, bitcoin can't rise as long as there are still around early adopters, bitcoin is now very high in value because many early adopters have sold their coins otherwise this can't be possible, i think in 2013 it was still not possible to hold that value because of this reason, it make sense now that the distribution is taking place slowly as the early adopters dump their huge amount of coins to the average people



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HAS BEEN RELEASED!


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February 25, 2017, 07:01:46 PM
 #3496

I always ask myself why I stopped mining from my desktop computer back in 2011. I did not have any clue about how this worked and I thought like this was going to end quickly. I've probably lost quite a few coins  Roll Eyes
i think you have still good time to start mining again, because still there are a lot  of coins to be mined and you can really get a good profit from it. i myself want to start mining bit i also have no idea about it that how to start minting and what are their requirements.

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forzendiablo
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the grandpa of cryptos


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February 25, 2017, 10:07:02 PM
 #3497

the OP was right!

ATH now... and only raising

notbatman
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February 25, 2017, 10:11:13 PM
 #3498

Everyone always talks about how the pizza guy or anyone else from early on is super rich and can buy an island.

But if you notice many times during these run ups, from $1 to $32, $10 to $266, $125 to $1216, $800 to $1220...there are always some huge dumps all at once on the way up.

That's just another early adopter dumping their bitcoins on the market to sell out to the world of fiat. Whoever had 10,000 bitcoins back then have likely sold it. Hell, maybe they sold them all when the price reached $1 and considered it a great investment.

Bitcoin is a depreciating currency. It will always go up.

i agree with this, bitcoin can't rise as long as there are still around early adopters, bitcoin is now very high in value because many early adopters have sold their coins otherwise this can't be possible, i think in 2013 it was still not possible to hold that value because of this reason, it make sense now that the distribution is taking place slowly as the early adopters dump their huge amount of coins to the average people

I think you hit the nail on the head there; IMO the current spamming of the blockchain is the result of the bears having nothing but a can of salty mystery meat at their disposal.

richardsNY
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February 25, 2017, 10:18:09 PM
 #3499

I always ask myself why I stopped mining from my desktop computer back in 2011. I did not have any clue about how this worked and I thought like this was going to end quickly. I've probably lost quite a few coins  Roll Eyes
i think you have still good time to start mining again, because still there are a lot  of coins to be mined and you can really get a good profit from it. i myself want to start mining bit i also have no idea about it that how to start minting and what are their requirements.

Currently it's too much of a hassle to get yourself into mining Bitcoin with the constant increasing difficulty. Instead of investing money into mining gear, just put that money into Bitcoin and you will be able to generate far greater profits, and with a whole lot less hassle. Buying Bitcoin has always been the best option in recent years. Don't get yourself stuck into something you don't know anything about (mining).

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freebutcaged
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Enjin Coin - Smart Cryptocurrency for Gaming.


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February 25, 2017, 10:24:42 PM
 #3500

How this OP has a guest membership? anyways few years from now people believing in bitcoin will look back and see that they made a right move as still is early to join mining or just a simple holder.

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