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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 599026 times)
CoinCidental
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June 21, 2017, 05:35:23 PM

I remember a few years back I think it was Stunna from primedice who was going to wager that a certain amount of BTC would be worth more than Berkshire Hathaway Class A shares. I think this is the year it actually would have passed that price

Wow! Really? The price of a single Berkshire Hathaway Class A share is $254,640. They have kept the prices artificially high (by preventing share split), in order to keep the equities away from the small-scale and medium-scale investors. Unlike Bitcoin, the Berkshire shares can't be purchased in fractions. The minimum purchase quantity is 1.000 shares.

actually there is a "cheap option" for people who cant afford brk A class shares

see below:

Warren Buffett has declared that the Class A shares will never experience a stock split because he believes the high share price attracts like-minded investors, those focused on long-term profits rather than on short-term price movements. As of May 2017, Berkshire Hathaway Class A (BRK-A) is trading for almost $246,000 a share.

In 1996, Buffett created Class B shares (BRK-B), offering investors the ability to invest in Berkshire Hathaway for, initially, one-thirtieth the price of a Class A share of stock. A 50-to-one stock split in 2010 sent the ratio to one-1,500th. Class B shares carry correspondingly lower voting rights as well. Buffet stated that the purpose of creating the Class B shares was to give smaller investors the opportunity to invest directly in Berkshire Hathaway, rather than only participating indirectly through mutual funds that mirror Berkshire Hathaway's holdings.

One benefit of holding Class B shares is flexibility. If an investor owns just one share of Class A and is in need of some cash, the only option is to sell that single share, even if its price far exceeds the amount of capital the investor needs to access. In contrast, a holder of Class B shares can liquidate part of his or her Berkshire Hathaway holdings, just up to the amount needed to meet cash flow requirements. Another benefit of Class B is that its much lower price means that BRK stock can be passed to heirs without triggering the gift tax as passing Class A shares does.

One final difference is that Class A shares can be converted into an equivalent amount of Class B shares any time a Class A shareholder wishes to so do. The conversion privilege does not exist in reverse. Class B shareholders can only convert their holdings to Class A by selling their Class B shares and then buying the equivalent in Class A shares.

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June 21, 2017, 05:41:09 PM

the important thing is not to panic ,everyday there is people spreading FUD to get you to dump your bitcoins just so they can can get them from you cheaply
like everything else of value in this world,btc will move from weak hands to strong ones .....
keep this in mind and dont listen to the idiots   Cool
I am hearing this for a long time now,bitcoin moving out of the weak hands to the strong hands,now what,you will keep the coins till you die. Tongue either way you are planning to sell the coins when you think that it is profitable for you,people sell their coins because they are not looking at the wider aspects of market rather looking at the current market and booking their profit,what is wrong in that.If i think that there will be a rally in bitcoin in coming weeks i will get hold some coins and get off ,you can also profit in that way.

Yes , i will still have my bitcoins to leave to my children and grandchildren when im dead
the problem with thinking short term is that most people cannot beat the market (97% on average will lose trying  )
My bitcoins only cost me $3 so i dont really need to cash out of a deflationary asset to an inflationary asset like cash
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June 21, 2017, 05:41:46 PM

If Berkshire Hathaway can go up to $250K per SHARE why the fuck can't bitcoin go to $250K? Or $100K? Or even $10K??


C'mon guys.... stop being a bunch of losers. I need bitcoin to keep going up. Stop acting like $3k is "too much"... fuck off. $10K or BUST.




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June 21, 2017, 06:46:59 PM

the important thing is not to panic ,everyday there is people spreading FUD to get you to dump your bitcoins just so they can can get them from you cheaply
like everything else of value in this world,btc will move from weak hands to strong ones .....
keep this in mind and dont listen to the idiots   Cool
I am hearing this for a long time now,bitcoin moving out of the weak hands to the strong hands,now what,you will keep the coins till you die. Tongue either way you are planning to sell the coins when you think that it is profitable for you,people sell their coins because they are not looking at the wider aspects of market rather looking at the current market and booking their profit,what is wrong in that.If i think that there will be a rally in bitcoin in coming weeks i will get hold some coins and get off ,you can also profit in that way.

Nothing wrong with selling strategically when the price goes up and buying back on dips, but you also have to keep in mind having bitcoins and replacing ones that you spend.. and longer term investment ideas.. you would not want to be out of coins because you sold them all at $2700 and the price goes up to $10k, right?

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June 21, 2017, 11:05:50 PM

I remember a few years back I think it was Stunna from primedice who was going to wager that a certain amount of BTC would be worth more than Berkshire Hathaway Class A shares. I think this is the year it actually would have passed that price

Wow! Really? The price of a single Berkshire Hathaway Class A share is $254,640. They have kept the prices artificially high (by preventing share split), in order to keep the equities away from the small-scale and medium-scale investors. Unlike Bitcoin, the Berkshire shares can't be purchased in fractions. The minimum purchase quantity is 1.000 shares.

Yes, I forget what the exact bet was going to be though...maybe one of the older users around her can confirm.   I believe the bet was going to be that 100BTC was going to be greater than the value of 1 Class A Berkshire Hathaway share, but I could be a little wrong.   If that was the exact bet...the month would have been the first time that it passed that value.

Can anyone else chime in if they remember?
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June 21, 2017, 11:26:38 PM


Sorry but the second sentence didn't make sense to me.
And why do you think I don't invest in bitcoin? Any good reasons?

I am pretty sure there were people back in 2011 said not to invest in it but the one who did it are now wealthy.

Considering there is only a limited number of bitcoins to be made in the coming years...
Is it wise to invest now?
How much do you guys think BTC will rise?
Also looking way back at the thread in 2011,2012, their predictions were pretty much correct.

Don't invest in bitcoin.


Convert from your old currency to bitcoins.

Investing in bitcoin implies that you just want to enlarge your pile of fiat currency.

Converting from your fiat currency to bitcoins shows that you actually understand the whole point of bitcoin. And that is to replace those government pieces of paper with something better.


250K per coin. I wouldn't mind that Smiley
This thread has made it through many price milestones from the single digits all the way up to $3,000+ this year.

I remember a few years back I think it was Stunna from primedice who was going to wager that a certain amount of BTC would be worth more than Berkshire Hathaway Class A shares. I think this is the year it actually would have passed that price

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Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
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June 22, 2017, 07:09:22 AM

are we there yet? Smiley
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June 22, 2017, 09:36:50 AM

are we there yet? Smiley
No we don't because majority of us just got into bitcoin when its price is more than 700 USD and i think it will need a lot of years for us to become a millionaire or get listed in the new wealthy elite that is caused by bitcoin. Just keep doing what we are doing in bitcoin so we can be millionaire after a few years of hard work and sleepless nights.

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June 22, 2017, 11:01:49 AM

When man thinks he is rich only because he had a few coins when the price rose, then it is wrong. Similarly, you can become bankrupt if the price will rapidly fall. The elite are those who long and hard to earn their money, and if something happens he will always be able to earn again.

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June 22, 2017, 11:08:43 AM

If I started investing in bitcoin then when this post was created, then I would already be among the rich elite. Now you need to wait a few more years to get rich.

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June 22, 2017, 12:34:32 PM

Considering there is only a limited number of bitcoins to be made in the coming years...
Is it wise to invest now?
How much do you guys think BTC will rise?
Also looking way back at the thread in 2011,2012, their predictions were pretty much correct.

Don't invest in bitcoin.


Convert from your old currency to bitcoins.

lol. What a big discouragement that you are saying here. If you are a bitcoin hater or you only want yourself which is the one who will only going to be benefited by bitcoin, then get out of here, typical people like you doesn't need by the community. We should be encouraging each other to be successful in the near future by the help of bitcoin. So, if you don't have anything useful to say here, then why not just keep quite and calm down there.

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June 22, 2017, 12:48:00 PM

I miss Atlas. He was a good troll. Trolls these days are much worse...
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June 22, 2017, 01:44:10 PM

If Berkshire Hathaway can go up to $250K per SHARE why the fuck can't bitcoin go to $250K? Or $100K? Or even $10K??


C'mon guys.... stop being a bunch of losers. I need bitcoin to keep going up. Stop acting like $3k is "too much"... fuck off. $10K or BUST.

Agreed. When I only started learning things about Bitcoin the price of it was around $100-$150, and after some research I came to conclusion that Bitcoin can rise as high as up to $10k during the next 5-7 years. It was in October 2013, so we are close.  Smiley

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July 15, 2017, 11:16:47 PM

If Berkshire Hathaway can go up to $250K per SHARE why the fuck can't bitcoin go to $250K? Or $100K? Or even $10K??


C'mon guys.... stop being a bunch of losers. I need bitcoin to keep going up. Stop acting like $3k is "too much"... fuck off. $10K or BUST.

Agreed. When I only started learning things about Bitcoin the price of it was around $100-$150, and after some research I came to conclusion that Bitcoin can rise as high as up to $10k during the next 5-7 years. It was in October 2013, so we are close.  Smiley

I think 6k within 6 years.

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July 16, 2017, 01:10:29 AM

Berkshire Hathaway is actively managed, they own not only currencies, bonds and assets they have all kinds of inventions and work going on to develop new profit everyday.  It grew exponentially because its not a single thing, bitcoin is just a token system.   If you want growth that large really you need a business that is changing and has alot of work being put in.

Theres open source work done in bitcoin and that has worth but its not every day its improving and moving that forward.   To get that kind of growth, you'd need to own the currency, probably actually require copyright on the code and also own all the miners and their income also and have a copyright on their ASIC designs and all sorts.
  Get all that under 1 company and list its stock and yea maybe you get to 250k per share.

I think this is a different system and its open source not all tied up with lawyers trying to trap wealth.   The importance is that its used and in turn it produces growth in other companies and people able to use this reliable token worth system.    You really want to be that rich then you are going to do more then hold some money and not invest it anyway.   At least put the bitcoin you have into a business if you want returns on it

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July 17, 2017, 06:04:21 PM

Are you currently putting all your money into bitcoin?  If you say this, you show you believe it by your actions.  I am putting all my money into bitcoin - I see a possibility of $50-$100+ per coin this year.  Just think, once the "bankers" and hedge funds find out about this, we are going to the moon.  Once my bitcoins are $1,000+ I will be able to pay off my growing college loans and maybe get an apartment, and my first car Smiley
Putting all money into bitcoin nowadays is not advisable at all, it will be risky even how higher you believed in bitcoin.
as long as its becoming the world currency its too dangerous to place all your funds into bitcoin.
Using bitcoin is not risky as people think about it we are indeed the true wealthy elite and its because of Bitcoin, Bitcoin is a great opportunity for unemployment people who are suffering for lack of money in this expensive age it has great high market value and there is no stopping now we are looking forward to move increment in its value .

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July 17, 2017, 06:06:06 PM

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

Yea, well I dont feel that way.


What are you going to do with your Bitcoin wealth once your coins hit upwards of $10,000 a pop?

I would really need to get more money to buy more BTC, maybe I should get a job , and buy some BTC, before this happens. I would love to earn some.

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July 17, 2017, 07:40:53 PM

Let the champagne bottle pop! We've earned it gentlemen.
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August 04, 2017, 11:09:43 AM

Let the champagne bottle pop! We've earned it gentlemen.

champaign is empty again!

 
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August 04, 2017, 11:14:31 AM

Holy crap I just read the first post and I was thinking this is a new topic....the first page talking about coins in double digits and going to 50$ and $100...I was like what coin are they even talking about am I in altcoin land? Then I finally realized the post was from 2011. Holy shot. I wonder if those guys held on and are they rich now?

I wonder if someone in 2020 will look back at someone with like 10 bitcoin at $2000 and think wow they got it chea p?
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