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

[kalgecin]

I believe he will wait for the prices to get lower down, and yes the people who are using bitcoins since long time they can still afford to buy as they have already made profits out of it, but for the newbie I don't think its a right time to buy.

I was a n00b the first time the price hit $400. Your advice would have been bad then and I think it's probably bad now.

I agree, this may be the last time to get coins sub 500
The next ATH will make the last one look like peanuts

This advice is bogus and todays deep dip of $100 out of nowhere proves that.
I'll wait until $300 to get in on the buying frenzy.

Good IDEA

[1714927684]

1714927684

[1714927684]

1714927684

[JayJuanGee]

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 must think about this if and when this level will be reached. But for sure I will spend some of m bitcoins for the fee of the universities for my two daughters. If the price will be reached before their going there. hen i will wait that the price go more to spend others. Have no other rush things to do for the moment. Maybe I will change some others just for diversification of my money but not sure about this. Anyhow, as i told in the beginning, everything will be decided in the right, desired and needed moment. When the price will arrive that fantastic figure.

Yes, I am sure that many of us will be selling off coins along the way, so it will likely, if coins were to be valued at $10,000, that we may only have maintained a small fraction of our original coins, unless we plan ahead and attempt to figure out ways to preserve a sufficient quantity of our BTC stash in order to enjoy the fruits of that $10,000 price-point.

[manselr]

It seems the OP's forum profile is not there. Did the forum allow for guests to post anonymous back in the day? It's pretty strange that I keep clicking on his nickname but there's nothing there, just a text that says "Anonymous" and doesn't redirect me to a profile. Can anyone explain this to me? Also unfortunately, I think OP might have panic sold already.

Seems pretty odd to me too. Something must've happened with his account that it needed to get deleted or banned? But they decided not to delete the thread because of it's popularity?

My assumption is that maybe OP was someone a bit known like rpietila or something, and he had his real name on his profile, email and so on.. probably thought it was better to be an anonymous multimillionaire.

[Bagatell]

OP was perma banned for trolling IIRC. Details are buried in this thread somewhere.

[JayJuanGee]

Main Stream adoption is key. Buy Buy Buy while you can get a bargain

That is true mainstream adoption is the key to success, but at present the prices are comparatively going high so it is not the right time to buy, this is the right time to sell a part of bitcoins and make a profit out of it and if the prices goes down in the coming months than can again buy some bitcoins and hold it for the future for the price hike.

With all respect I do not agree. Now is still time to buy. I feel the price will rise and fall down to what it is now. Then again this is all speculation but I got this gut feeling a while ago and really think this is another major bubble.

I Agree. But the fact is that the newbie who wants to get into the bitcoins for the first time will he buy at this price?? I believe he will wait for the prices to get lower down, and yes the people who are using bitcoins since long time they can still afford to buy as they have already made profits out of it, but for the newbie I don't think its a right time to buy.

newbies look at the trend, and experience FOMO (fear of missing out).  Sometimes, it can take a bit of price momentum for this to occur, but when something is on the rise, the news gets out and newbies begin to jump on board, and maybe they only begin with a small amount, but as the price keeps rising, they begin to invest more and more, and then at some point the bubble bursts, and many of the later arrivers are trapped.... Anyhow, everyone hopes that it will not be him/her that is trapped.

[JayJuanGee]

I believe he will wait for the prices to get lower down, and yes the people who are using bitcoins since long time they can still afford to buy as they have already made profits out of it, but for the newbie I don't think its a right time to buy.

I was a n00b the first time the price hit $400. Your advice would have been bad then and I think it's probably bad now.

I agree, this may be the last time to get coins sub 500
The next ATH will make the last one look like peanuts

 We all hope!

Give it a week and you'll be able to get them for sub $250 again.

Yeah right. 

You should realize by now that the past 20 months of bitcoin's performance is not a very accurate prediction of its future performance, and currently with market dynamics, it is very likely that your prediction is wrong (your prediction of this post probably has less than a 1% chance of occurring, especially within the next 1 -2 weeks).

[RealBitcoin]

We could see a retracement (in fact we just saw because of the auction)

However I really doubt it will go below 200$ this time. I am confident it could reach 600$ too if we push strong

[JayJuanGee]

Main Stream adoption is key. Buy Buy Buy while you can get a bargain

That is true mainstream adoption is the key to success, but at present the prices are comparatively going high so it is not the right time to buy, this is the right time to sell a part of bitcoins and make a profit out of it and if the prices goes down in the coming months than can again buy some bitcoins and hold it for the future for the price hike.

With all respect I do not agree. Now is still time to buy. I feel the price will rise and fall down to what it is now. Then again this is all speculation but I got this gut feeling a while ago and really think this is another major bubble.

I Agree. But the fact is that the newbie who wants to get into the bitcoins for the first time will he buy at this price?? I believe he will wait for the prices to get lower down, and yes the people who are using bitcoins since long time they can still afford to buy as they have already made profits out of it, but for the newbie I don't think its a right time to buy.

Soon the world will buy mBTC instead of full BTC

There aren't enough full BTC for everyone, it's only natural the price of 1 BTC is beyond reach of even first world citizens.    

If you would want to give every citizen of Tokyo a Bitcoin, you would not even have enough to give each of them a full Bitcoin (not enough by half). And that's just one city. It's ridicilous to expect the price of Bitcoin to stay so low that it is accessable for the average person, it's not designed to be.

The average person should be able to afford just about 3 mBTC (21 million divided by 7 billion) if you hoor more than that your already ahead of the curve.

That's a good illustration of the direction that this thing is likely going, and talking in terms of mbtc is going to become much more practical - and I hope that the bitcoin community or at least some kind of widespread practice will come into adoption in order to be clear about certain names for valuations (and various fractions of a bitcoin), as the priced are likely to continue to increase.

[Oscilson]

We could see a retracement (in fact we just saw because of the auction)

However I really doubt it will go below 200$ this time. I am confident it could reach 600$ too if we push strong

With so much positive news about the adoption of bitcoin and the use of blockchain technology, the price will not go down to $200. It shall reach $600 in a few months.

[Betwrong]

We could see a retracement (in fact we just saw because of the auction)

However I really doubt it will go below 200$ this time. I am confident it could reach 600$ too if we push strong

With so much positive news about the adoption of bitcoin and the use of blockchain technology, the price will not go down to $200. It shall reach $600 in a few months.

Pretty much agree with this. In a few months the price will reach maybe not $600 but rather around $500 but definitely not around $200.

[zimmah]

Main Stream adoption is key. Buy Buy Buy while you can get a bargain

That is true mainstream adoption is the key to success, but at present the prices are comparatively going high so it is not the right time to buy, this is the right time to sell a part of bitcoins and make a profit out of it and if the prices goes down in the coming months than can again buy some bitcoins and hold it for the future for the price hike.

With all respect I do not agree. Now is still time to buy. I feel the price will rise and fall down to what it is now. Then again this is all speculation but I got this gut feeling a while ago and really think this is another major bubble.

I Agree. But the fact is that the newbie who wants to get into the bitcoins for the first time will he buy at this price?? I believe he will wait for the prices to get lower down, and yes the people who are using bitcoins since long time they can still afford to buy as they have already made profits out of it, but for the newbie I don't think its a right time to buy.

Soon the world will buy mBTC instead of full BTC

There aren't enough full BTC for everyone, it's only natural the price of 1 BTC is beyond reach of even first world citizens.    

If you would want to give every citizen of Tokyo a Bitcoin, you would not even have enough to give each of them a full Bitcoin (not enough by half). And that's just one city. It's ridicilous to expect the price of Bitcoin to stay so low that it is accessable for the average person, it's not designed to be.

The average person should be able to afford just about 3 mBTC (21 million divided by 7 billion) if you hoor more than that your already ahead of the curve.

That's a good illustration of the direction that this thing is likely going, and talking in terms of mbtc is going to become much more practical - and I hope that the bitcoin community or at least some kind of widespread practice will come into adoption in order to be clear about certain names for valuations (and various fractions of a bitcoin), as the priced are likely to continue to increase.

personally i like to keep it simple and stick to mills and crows.

Mills are already used in finance (although not heard nearly as often as cents) (mill is short for milli, like cent is short for centi, but milli is 1/1000 instead of 1/100).

We already have satoshi, and micros are often called 'bits' but I don't like the word bit because of possible confusion (100 satoshi or 1/1,000,000 bitcoin or 1/1,000 mills)

Therefore I like using crow, because it's phonetically smilar to micro (the latter part of micro obviously).

And crows and mills just kind of make sense.

Written could just use normaly ISO notation of mBTC = mill and µBTC = crow (or uBTC if you can't write µ)

I actually liked the suggestion of using Ƀ for bitcoin so we could use ƀ for satoshi.

So we have Ƀ mɃ µɃ and ƀ

[JayJuanGee]

Main Stream adoption is key. Buy Buy Buy while you can get a bargain

That is true mainstream adoption is the key to success, but at present the prices are comparatively going high so it is not the right time to buy, this is the right time to sell a part of bitcoins and make a profit out of it and if the prices goes down in the coming months than can again buy some bitcoins and hold it for the future for the price hike.

With all respect I do not agree. Now is still time to buy. I feel the price will rise and fall down to what it is now. Then again this is all speculation but I got this gut feeling a while ago and really think this is another major bubble.

I Agree. But the fact is that the newbie who wants to get into the bitcoins for the first time will he buy at this price?? I believe he will wait for the prices to get lower down, and yes the people who are using bitcoins since long time they can still afford to buy as they have already made profits out of it, but for the newbie I don't think its a right time to buy.

Soon the world will buy mBTC instead of full BTC

There aren't enough full BTC for everyone, it's only natural the price of 1 BTC is beyond reach of even first world citizens.    

If you would want to give every citizen of Tokyo a Bitcoin, you would not even have enough to give each of them a full Bitcoin (not enough by half). And that's just one city. It's ridicilous to expect the price of Bitcoin to stay so low that it is accessable for the average person, it's not designed to be.

The average person should be able to afford just about 3 mBTC (21 million divided by 7 billion) if you hoor more than that your already ahead of the curve.

That's a good illustration of the direction that this thing is likely going, and talking in terms of mbtc is going to become much more practical - and I hope that the bitcoin community or at least some kind of widespread practice will come into adoption in order to be clear about certain names for valuations (and various fractions of a bitcoin), as the priced are likely to continue to increase.

personally i like to keep it simple and stick to mills and crows.

Mills are already used in finance (although not heard nearly as often as cents) (mill is short for milli, like cent is short for centi, but milli is 1/1000 instead of 1/100).

We already have satoshi, and micros are often called 'bits' but I don't like the word bit because of possible confusion (100 satoshi or 1/1,000,000 bitcoin or 1/1,000 mills)

Therefore I like using crow, because it's phonetically smilar to micro (the latter part of micro obviously).

And crows and mills just kind of make sense.

Written could just use normaly ISO notation of mBTC = mill and µBTC = crow (or uBTC if you can't write µ)

I actually liked the suggestion of using Ƀ for bitcoin so we could use ƀ for satoshi.

So we have Ƀ mɃ µɃ and ƀ

I like it.  Did you come up with this on your own, or were you influenced by various discussions on the topic.  I think what you are saying is fairly straight forward, and it seems to be fairly intuitive and to be fairly easy to embed into our various subconsciousnesses.

[tobacco123]

I really hope we are the new wealthy elite. I have about 0.3 BTC and will be getting more!

[RealBitcoin]

We could see a retracement (in fact we just saw because of the auction)

However I really doubt it will go below 200$ this time. I am confident it could reach 600$ too if we push strong

With so much positive news about the adoption of bitcoin and the use of blockchain technology, the price will not go down to $200. It shall reach $600 in a few months.

Pretty much agree with this. In a few months the price will reach maybe not $600 but rather around $500 but definitely not around $200.

Ok then but we can all agree that the current price levels +/- a deviation is the target range for the price.

We cannot know for sure, but we all expect a 600$ in the following months!

[JayJuanGee]

I really hope we are the new wealthy elite. I have about 0.3 BTC and will be getting more!

A little more could be helpful because otherwise it may take a bit longer for someone with your level of BTC holdings to identify as being within the elite statuses.

Even OP was referring as $10k per BTC bringing him into elite status, but even with $10k per BTC, .3 BTC is only going to get you to $3,000, which seems quite a distance from elite status, in my humble bumble opinion.

[JayJuanGee]

We could see a retracement (in fact we just saw because of the auction)

However I really doubt it will go below 200$ this time. I am confident it could reach 600$ too if we push strong

With so much positive news about the adoption of bitcoin and the use of blockchain technology, the price will not go down to $200. It shall reach $600 in a few months.

Pretty much agree with this. In a few months the price will reach maybe not $600 but rather around $500 but definitely not around $200.

Ok then but we can all agree that the current price levels +/- a deviation is the target range for the price.

We cannot know for sure, but we all expect a 600$ in the following months!

I doubt that any large group of bitcoin talk members can really agree upon where the price is going in the short term. 

Ultimately we need to consider both short term performance, and what is going on now, and also give some consideration to the longer bitcoin history. 

Generally, we are talking in terms of probabilities, and in that regard, it seems much more probable that bitcoin will reach $600 before it reaches $200 - does any of us know specifics.  I doubt it, unless you happen to have enough money that you know that you specifically cause prices to rise or fall to a predicted level.  And in our current world, it is much easier for a wealthy person to get ahold of a lot of dollars (without affecting bitcoin prices) as compared with getting ahold of a lot of bitcoins (without affecting bitcoin prices).

[zimmah]

Main Stream adoption is key. Buy Buy Buy while you can get a bargain

That is true mainstream adoption is the key to success, but at present the prices are comparatively going high so it is not the right time to buy, this is the right time to sell a part of bitcoins and make a profit out of it and if the prices goes down in the coming months than can again buy some bitcoins and hold it for the future for the price hike.

With all respect I do not agree. Now is still time to buy. I feel the price will rise and fall down to what it is now. Then again this is all speculation but I got this gut feeling a while ago and really think this is another major bubble.

I Agree. But the fact is that the newbie who wants to get into the bitcoins for the first time will he buy at this price?? I believe he will wait for the prices to get lower down, and yes the people who are using bitcoins since long time they can still afford to buy as they have already made profits out of it, but for the newbie I don't think its a right time to buy.

Soon the world will buy mBTC instead of full BTC

There aren't enough full BTC for everyone, it's only natural the price of 1 BTC is beyond reach of even first world citizens.    

If you would want to give every citizen of Tokyo a Bitcoin, you would not even have enough to give each of them a full Bitcoin (not enough by half). And that's just one city. It's ridicilous to expect the price of Bitcoin to stay so low that it is accessable for the average person, it's not designed to be.

The average person should be able to afford just about 3 mBTC (21 million divided by 7 billion) if you hoor more than that your already ahead of the curve.

That's a good illustration of the direction that this thing is likely going, and talking in terms of mbtc is going to become much more practical - and I hope that the bitcoin community or at least some kind of widespread practice will come into adoption in order to be clear about certain names for valuations (and various fractions of a bitcoin), as the priced are likely to continue to increase.

personally i like to keep it simple and stick to mills and crows.

Mills are already used in finance (although not heard nearly as often as cents) (mill is short for milli, like cent is short for centi, but milli is 1/1000 instead of 1/100).

We already have satoshi, and micros are often called 'bits' but I don't like the word bit because of possible confusion (100 satoshi or 1/1,000,000 bitcoin or 1/1,000 mills)

Therefore I like using crow, because it's phonetically smilar to micro (the latter part of micro obviously).

And crows and mills just kind of make sense.

Written could just use normaly ISO notation of mBTC = mill and µBTC = crow (or uBTC if you can't write µ)

I actually liked the suggestion of using Ƀ for bitcoin so we could use ƀ for satoshi.

So we have Ƀ mɃ µɃ and ƀ

I like it.  Did you come up with this on your own, or were you influenced by various discussions on the topic.  I think what you are saying is fairly straight forward, and it seems to be fairly intuitive and to be fairly easy to embed into our various subconsciousnesses.

I heard of other nicknames before, but all of them lost out to bits (not even because bits was more popular, but because some psychological trickery the supporters of bit pulled (there were some push polls, where they asked the question if "100 satoshi" should have a name, but those polls included "bits" as the only option to name them, linking the yes answer directly to the name the creators of the poll prefered, instead of having a neutral poll where the name was not set in stone. falsely creating the illusion that "bits" was agreed upon, despite the fact that there were lots of threads that opposed the name bits, but were in favor of naming the unit), as well as adding "bit" as an option to different popular wallets. (I can dig up those threads but i will do so later, too busy watching blizzcon atm)

I wanted to oppose bits even though it is already getting dangerously close to being established around the bitcoin world (because i still stick to my original complaint that "bit" is ambiguous and can be interpreted in too many different ways)

I didn't want to go with too fancy names so i thought about names that are easy to explain, remember, sound nice (and not too similar to each other) and just make sens.

so i ended up with those two (one of which turned out to be actually used in finance), the other is so small in normal currencies that it's obviously never used (I mean what currency is measured in one micro parts really?)

[Oscilson]

I really hope we are the new wealthy elite. I have about 0.3 BTC and will be getting more!

0.3 BTC will worth a lot in a few decades. If it is practical, you can get more to make it 1 bitcoin more higher. No more than 21 million people in the world can own 1 bitcoin. It is very rare and useful.

[garrytaylor1]

Bitcoin will really start to rocket when mining caps out.

[Blue_Tiger73]

Yeah. I definitely agree that we are the new wealthy gentlemen of the world. Bitcoin is the currency of the future, and we have it. Pretty much we are holding the future. We are getting rich as the price of Bitcoin continues to rise.