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

[cr1776]

seems now we are poor elite

Given where the price has gone since this thread has started, doubtful.  :-)

Still looks good to me: http://bitcoincharts.com/charts/rockEUR#rg150zig6-hourztgTzm1g10zm2g25zv

+1. Rome wasn't built in a day, the history of bitcoin is full of volatility with a long term large upward trend. Just because it is  no longer $1000/coin doesn't mean we are the "poor elite" - as I was quoted, given where the price was when this thread started, anyone who bought/mined then, before, or a long while after is doing well.

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[roslinpl]

I AM PRETTY CONFIDENT OUR GRANDCHILDREN ARE THE NEW WEALTHY ELITE, GENTLEMEN (and bitchick)... NOT US!! DEAD SERIOUS

Elite? comeon guys. We are just human. And you are just a human too.

Elite.

Lol.

[BitChick]

I have actually never read this thread entirely through.  It is pretty long.

However, as I skim the earlier comments I think I can determine who some of the "wealthy elite" already are.  The members that are still around now and posted in 2011 should be well on their way!  Congrats guys!  Sure some probably sold quite a bit of coins already but they were definitely in the game sooner than most of us here.

[p2pbucks]

yes , i am pretty confident that the whole bitcoin things will get better in future 

[bg002h]

I have actually never read this thread entirely through.  It is pretty long.

However, as I skim the earlier comments I think I can determine who some of the "wealthy elite" already are.  The members that are still around now and posted in 2011 should be well on their way!  Congrats guys!  Sure some probably sold quite a bit of coins already but they were definitely in the game sooner than most of us here.

Some sold more than others. But there are probably a few thousand of modestly well off folks who are wondering how to incorporate the unexpected funds into their life goals...

[kireinaha]

Given that bitcoin will be going to at least 1 million per coin within the next few years, we, the new wealthy elite, must prepare for this and the responsibilities we will have to society as we become multimillionaires. I have told a few people about bitcoins, but I worry that everyone will come to me and ask for money once my i'm ridiculously wealthy and they find out about the 0.25 BTC i'm holding. it's not something i worry about too much, but i'm thinking maybe i should move to someplace like singapore. what about everyone else?

[ShawnLeary]

the first few pages of this thread are great.. entertaining read

+1

Its always fun looking back at old threads and seeing where people think it will be in x years or when people say it won't ever go anywhere and will be dead by end of year

I forget to check the dates when I click on these threads.  Whether it's been necro'd or just ongoing, it's always mind blowing to see the predictions and speculation.  Gavin was on point in his early predictions on this thread.  BitCoin has already changed the world and will keep on doing so, there is no going back.

The billions with no banking access are the first to benefit directly from BitCoin.  Western Union's days, of gouging of the third world, are numbered.  The Philippines number one money making export is, their people.  10% of the population lives aboard and generate $20-30B in remittances a year and projected to climb each year.  BitCoin can instantly add another 20% overnight, so perhaps some of those family members can go home and be with their families. Just this alone makes BitCoin tremendously life changing and we all know it's so much more.

Here's my $0.02 cents or .00003BTC prediction:
2015 $1,500
2016 $3,000
2017 $5,000
2018 $18,000 (US votes for BitCoin backed Dollar)
2019 $19,000
2020 $21,000 (BitCoin de facto world currency as Euro and China adopt the "BitCoin Standard Currency")
2040 $1,450,000
2060 $20,385,000 (Moon colony "Port Laslzo" opens first pizza place)

[giszmo]

2018 $18,000 (US votes for BitCoin backed Dollar)

As in "The FED announces it has all USD backed by 18kUSD BTCs"? Do the math how far off you are even if they had 21 million bitcoin by that date. That would put US M1 to 21MɃ * 18k$/Ƀ = 378G$ << 2.7T$

[Melbustus]

I'm fairly on the fence of this, but I have to ask: What standard are we using for BTC's enormous momentum? Its market price? The size of its goods and services economy? The amount of processing power committed?

I'm optimistic about bitcoin because of two metrics:

1. Lots of people are interested in it, all over the world.

2. There are lots of interesting, innovative projects being built around bitcoin.

It is still VERY early days, and I'll say it again:  expect growing pains.

What kind if growing pains are you speaking of?

Technical growing pains like the ones we're dealing with right now-- IRC channel filling up so new people are having trouble connecting, BTC/$ going up so the 0.01BTC transaction fees are too high, etc.  There will be more of these as transaction volume increases, some in the core bitcoin code and more affecting bitcoin-running websites (who will find they have to upgrade their servers to handle increased volume/users, etc).

Legal growing pains.  I expect somebody doing something illegal and using bitcoins to help do it will get caught, put in jail, and that will be mis-reported as "bitcoins are illegal!"  I'd say there's a 1 in 5 chance of bitcoin being made outright illegal in the USA, but I also know that I'm terrible at accurately predicting stuff.

Security growing pains. My biggest worry is what to do about non-technologically-savvy people running bitcoin on a virus-infested personal computer or mobile phone and losing all their bitcoins the first time they enter their password (I'm assuming their wallet will be password-protected) to send a couple coins to their friend.

And just plain new-technology growing pains. Expect some (maybe most) bitcoin-related companies to fail, because most startups fail. Some people will lose money when they do.

Again, I'm optimistic because there are, and will be, lots of motivated people working to solve all of these problems, and because I believe the core technology is solid. But I don't expect smooth sailing.

I'd say Gavin's been pretty spot-on.

And note that there is now an order of magnitude or two more motivated and talented people working in the bitcoin space.

And we should still expect anything but smooth sailing.

[ShawnLeary]

2018 $18,000 (US votes for BitCoin backed Dollar)

As in "The FED announces it has all USD backed by 18kUSD BTCs"? Do the math how far off you are even if they had 21 million bitcoin by that date. That would put US M1 to 21MɃ * 18k$/Ƀ = 378G$ << 2.7T$

Good point math champ!  Question then, if BitCoin were to replace 100% of the world's fiat tomorrow, how much would 1BTC be worth in USD?

[Dafar]

I'm pretty confident the people from the first 10-12 or so pages are the new wealthy elite, gentlemen........ but the rest of us? Lol, keep dreaming pal. Maybe in 5 years AND if we're lucky.

Since Dec 2013, I feel broke as hell

[boumalo]

I'm pretty confident the people from the first 10-12 or so pages are the new wealthy elite, gentlemen........ but the rest of us? Lol, keep dreaming pal. Maybe in 5 years AND if we're lucky.

Since Dec 2013, I feel broke as hell

I like the way you put it : we are the people of page 41, let's come back and see how we stand in a few years in term of Bitcoin wealth

Control its spending and save is the most important wether it is to save in bitcoins or in gold in a few years

[giszmo]

2018 $18,000 (US votes for BitCoin backed Dollar)

As in "The FED announces it has all USD backed by 18kUSD BTCs"? Do the math how far off you are even if they had 21 million bitcoin by that date. That would put US M1 to 21MɃ * 18k$/Ƀ = 378G$ << 2.7T$

Good point math champ!  Question then, if BitCoin were to replace 100% of the world's fiat tomorrow, how much would 1BTC be worth in USD?

Define the world's fiat and do the math yourself.

[CtrlAltBernanke420]

2018 $18,000 (US votes for BitCoin backed Dollar)

As in "The FED announces it has all USD backed by 18kUSD BTCs"? Do the math how far off you are even if they had 21 million bitcoin by that date. That would put US M1 to 21MɃ * 18k$/Ƀ = 378G$ << 2.7T$

Good point math champ!  Question then, if BitCoin were to replace 100% of the world's fiat tomorrow, how much would 1BTC be worth in USD?

Define the world's fiat and do the math yourself.

"TO INFINITY AND BEYOND!!!!" - BTCuzz Lightyear

[Biomech]

2018 $18,000 (US votes for BitCoin backed Dollar)

As in "The FED announces it has all USD backed by 18kUSD BTCs"? Do the math how far off you are even if they had 21 million bitcoin by that date. That would put US M1 to 21MɃ * 18k$/Ƀ = 378G$ << 2.7T$

Good point math champ!  Question then, if BitCoin were to replace 100% of the world's fiat tomorrow, how much would 1BTC be worth in USD?

nothing. USD would be historical.

[angrynerd88]

btc is simply a big epic bubble.

[Biomech]

btc is simply a big epic bubble.

Perhaps. But it's been one hell of a ride!

[marcus_of_augustus]

btc is simply a big epic bubble.

All money is a bubble.

[rpietila]

2018 $18,000 (US votes for BitCoin backed Dollar)

As in "The FED announces it has all USD backed by 18kUSD BTCs"? Do the math how far off you are even if they had 21 million bitcoin by that date. That would put US M1 to 21MɃ * 18k$/Ƀ = 378G$ << 2.7T$

Good point math champ!  Question then, if BitCoin were to replace 100% of the world's fiat tomorrow, how much would 1BTC be worth in USD?

Define the world's fiat and do the math yourself.

The world is valued at 400T (trillion) USD currently.

Because USD will die, we can only use the relative figures.

Most of the financial system serves absolutely no legit purpose (except to siphon wealth from producers to puppetmasters via innumerable methods).

When all that is destroyed, BTC can perhaps store 25% of value, which is 100T at current prices and would be 8M per bitcoin in purchasing power. (I would use 5 million to be on the safe side)

[Tirapon]

2018 $18,000 (US votes for BitCoin backed Dollar)

As in "The FED announces it has all USD backed by 18kUSD BTCs"? Do the math how far off you are even if they had 21 million bitcoin by that date. That would put US M1 to 21MɃ * 18k$/Ƀ = 378G$ << 2.7T$

Good point math champ!  Question then, if BitCoin were to replace 100% of the world's fiat tomorrow, how much would 1BTC be worth in USD?

Define the world's fiat and do the math yourself.

The world is valued at 400T (trillion) USD currently.

Because USD will die, we can only use the relative figures.

Most of the financial system serves absolutely no legit purpose (except to siphon wealth from producers to puppetmasters via innumerable methods).

When all that is destroyed, BTC can perhaps store 25% of value, which is 100T at current prices and would be 8M per bitcoin in purchasing power. (I would use 5 million to be on the safe side)

Still need to get to $300k first.