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Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 508367 times)
Mondy
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November 19, 2013, 12:26:59 AM
 #481

Guys it will slow down eventually. We cant ALL be millionaires lol

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November 19, 2013, 12:39:07 AM
 #482

At the same time, the destruction of the legacy financial system will send stocks and real estate to all-time lows.

I doubt it. Stocks and real estate are tangible wealth. Currency is merely something used to purchase wealth.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.
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November 19, 2013, 12:41:06 AM
 #483

At the same time, the destruction of the legacy financial system will send stocks and real estate to all-time lows.

I doubt it. Stocks and real estate are tangible wealth. Currency is merely something used to purchase wealth.

They  will go to all time lows (temporarily) because their owners will panic buy Bitcoins with everyway they can.
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November 19, 2013, 04:42:09 AM
 #484

At the same time, the destruction of the legacy financial system will send stocks and real estate to all-time lows.

I doubt it. Stocks and real estate are tangible wealth. Currency is merely something used to purchase wealth.

Today I took a piece of paper saying I own stocks in apple and wiped my ass with it, indeed tangible wealth!
and how dare you call Bitcoin just a "Currency" and compare it to the worthless fiat? Bitcoin is a digital commodity and it is as tangible as everything else, I just carried my phone with mycelium wallet and it is quite heavy for a non tangible asset.

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November 19, 2013, 04:44:22 AM
 #485

The funny thing is ... those who stick around, and hold their bitcoin,
will look back on days like these and laugh. The idea of owning bitcoin
for less than $1,000 will be a joke ...

Governments will trade in singular bitcoins within years.
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November 19, 2013, 04:47:11 AM
 #486

Guys it will slow down eventually. We cant ALL be millionaires lol

The US alone has several million millionaires, what's the impact of a potential 2.1 million more (assuming around 100k BTC valuation) globally, really. Not much.

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November 19, 2013, 04:50:15 AM
 #487

The funny thing is ... those who stick around, and hold their bitcoin,
will look back on days like these and laugh. The idea of owning bitcoin
for less than $1,000 will be a joke ...

Governments will trade in singular bitcoins within years.

future news:

President of country x: "We are very optimistic about having excess for next year's budget since this year we have assigned 1 whole bitcoin for the budget!"

 Shocked

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November 19, 2013, 04:53:53 AM
 #488

this thread is funny.. i remember being a a creeper/browser who did not have an account... and seeing his thread something like 18 months ago. it seems like every time BTC explodes, people return to this thread   Cheesy
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November 19, 2013, 04:54:48 AM
 #489

this thread is funny.. i remember being a a creeper/browser who did not have an account... and seeing his thread something like 18 months ago. it seems like every time BTC explodes, people return to this thread   Cheesy

It's been a historically sound indicator of when a bear market is at its end, too. Let's hope. Smiley

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November 19, 2013, 05:01:10 AM
 #490

Always fun to revive old threads.
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November 19, 2013, 06:53:21 AM
 #491

At the same time, the destruction of the legacy financial system will send stocks and real estate to all-time lows.

I doubt it. Stocks and real estate are tangible wealth. Currency is merely something used to purchase wealth.

Today I took a piece of paper saying I own stocks in apple and wiped my ass with it, indeed tangible wealth!
and how dare you call Bitcoin just a "Currency" and compare it to the worthless fiat? Bitcoin is a digital commodity and it is as tangible as everything else, I just carried my phone with mycelium wallet and it is quite heavy for a non tangible asset.

Not Sure If Serious. (sorry - no clever gif of Frye at hand).

My point is that when the legacy financial system goes tits-up (which I envision will most certainly be through hyperinflation), shares of companies and (e.g.) productive farmland will still have value. Maybe less so for the stocks, as commerce will be difficult for some time. But merely destroying the system's currency will not make land and capital equipment vaporize.

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November 19, 2013, 08:27:45 PM
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My point is that when the legacy financial system goes tits-up (which I envision will most certainly be through hyperinflation), shares of companies and (e.g.) productive farmland will still have value. Maybe less so for the stocks, as commerce will be difficult for some time. But merely destroying the system's currency will not make land and capital equipment vaporize.

This is a fundamental truth that often gets lost in the noise.  No currency is, itself, wealth.  Nor is any currency, itself, capital.  If & when the  common currency is discarded, the standard of measuring wealth and capital simply changes.  The wealth and capital are still there the whole time, but for an internim period it may become difficult to quantify the value in such a way as to be able to accuractly compare the values of different forms of capital.

Nor is gold, itself, wealth.  As was so well stated in the Cryptocromicon, gold is the corpse of wealth.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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November 19, 2013, 10:24:30 PM
 #493

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?

Read the following post and the posts on the prior page of the thread:

https://bitcointalk.org/index.php?topic=323988.msg3643713#msg3643713

You are suffering a delusion induced by the dopamine (euphoria, feel good) spikes in your brain which are shutting down the rational thought in your (probably thus atrophied) pre-frontal cortex.

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BittBurger
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November 19, 2013, 11:17:31 PM
 #494

I think about this thread all the time.

It makes me feel good.

I think about it when im getting ready for work.  I like the title.  It sounds super sexy and motivating.

I think this thread needs to stay near the top.

The power of suggestion in seeing this thread Title in the list will only help Bitcoin grow.

You'd be amazed how people are manipulated by the power of suggestion.

Bitcoin's true purpose alluded-to in Satoshi's message on the Genesis Block:
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
https://blockchain.info/tx/4a5e1e4baab89f3a32518a88c31bc87f618f76673e2cc77ab2127b7afdeda33b?show_adv=true
BitChick
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November 20, 2013, 02:07:35 AM
 #495

I don't feel as wealthy as I did yesterday unfortunately.  Sad

Maybe next week we will be on another rally though. Wink

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November 20, 2013, 02:16:08 AM
 #496

I don't feel as wealthy as I did yesterday unfortunately.  Sad

Maybe next week we will be on another rally though. Wink
As human we only perceive changes. So if you would be constantly very wealthy without any change, you would no longer feel it. But with Bitcoins you can feel it fresh again every other week, sometimes day. See? Bitcoin rocks Grin

2double0
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November 20, 2013, 06:23:13 AM
 #497

Guys it will slow down eventually. We cant ALL be millionaires lol

The US alone has several million millionaires, what's the impact of a potential 2.1 million more (assuming around 100k BTC valuation) globally, really. Not much.

It would be significant actually. imo

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November 20, 2013, 10:20:23 AM
 #498

At the same time, the destruction of the legacy financial system will send stocks and real estate to all-time lows.

I doubt it. Stocks and real estate are tangible wealth. Currency is merely something used to purchase wealth.

Indeed, I imagine prices as depicted in the fiat would go way up.


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November 21, 2013, 04:33:04 PM
 #499

This thread is like a room of wonders in the fantasy palace aspect of the bitcoin speculation phenomenon.

The top post should be enshrined.    https://bitcointalk.org/index.php?topic=12156.msg169751#msg169751

Quote
The world just isn't going to be the same and we have been blessed as the pioneers.

Fittingly, it was written during the rational exuberance leading up to the greatest bitcoin bubble. Word was spreading, and the bold assumption that a digital virtual currency could replace the world's financial infrastructure, allowed calculations estimating the fantastic ultimate valuation of a bitcoin. At the time, miners and speculators active on this forum routinely held 50 or more bitcoins.

The irony of the anonymous author's vision is how much longer it would take for growing number of speculators to get the message.

But here we are today, at the threshold of the milestone $1,000. Think about safeguarding, accumulating, transacting your resources for the benefit of your loved ones, and perhaps too, some significant purpose.
BitChick
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November 21, 2013, 05:48:39 PM
 #500

I don't feel as wealthy as I did yesterday unfortunately.  Sad

Maybe next week we will be on another rally though. Wink
As human we only perceive changes. So if you would be constantly very wealthy without any change, you would no longer feel it. But with Bitcoins you can feel it fresh again every other week, sometimes day. See? Bitcoin rocks Grin

There is something to be said about enjoying the journey for sure!  It is so weird waking up day after day to amazing growth.  We are still so new to this it is almost shocking.  I keep thinking and waiting for this huge crash back to reality but then we had this supposed "crash" this week and we are still well above our initial investment.  We are relatively late to this too.  I can only imagine what it is like for some of you that bought coins in the $1-$10 range and held until now.  Crazy.

But part of the fun of all of this is the anticipation for sure.  Even if Bitcoin does not reach the super high milestones predicted by some, it has been way too much fun so far!  Almost addicting really.  I might need some therapy here soon. Wink

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