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

[SlipperySlope]

Well maybe for a few entitled kids who got everything from their parents it is. But for the majority of the world's population it isn't. The majority of the world population doesn't have a computer, even less people have internet, and most people don't have any money to buy bitcoins with, because they use all their money for food and still they starve.

A phrase made popular by the US president John F. Kennedy applies . . .

A rising tide lifts all boats.

[1714025908]

1714025908

[1714025908]

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[TonyZX]

and I am pretty confident we are the old dying elite, whose best times have passed

[BitChick]

and I am pretty confident we are the old dying elite, whose best times have passed

Patience.  The year is just getting started.

[jonald_fyookball]

and I am pretty confident we are the old dying elite, whose best times have passed

Patience.  The year is just getting started.

Oh. Glad you understood that  I thought the poster was simply having a midlife crisis and worrying about age spots. 

[JayJuanGee]

Well maybe for a few entitled kids who got everything from their parents it is. But for the majority of the world's population it isn't. The majority of the world population doesn't have a computer, even less people have internet, and most people don't have any money to buy bitcoins with, because they use all their money for food and still they starve.

A phrase made popular by the US president John F. Kennedy applies . . .

A rising tide lifts all boats.

I dont think this concept addresses Billysweird's point exactly.

However, a point to address billysweird's point would be that bitcoin would provide a lot for poor people to the extent that they attempt to save anything or to the extent that they may rely upon fiat money systems that disproportionately steal their money.

Poor is relative, of course, and some people in the world are struggling more than other people; however, part of the reason that they are struggling as much as they are is b/c they are exploited in their various financial instruments and the depreciation of their money.  I am NOT sure about whether bitcoin is going to completely resolve these kinds of resource issues b/c the rich frequently find new ways to exploit the poor, but bitcoin has the potential to offer a variety of solutions as compared with fiat money systems.

[boumalo]

Well maybe for a few entitled kids who got everything from their parents it is. But for the majority of the world's population it isn't. The majority of the world population doesn't have a computer, even less people have internet, and most people don't have any money to buy bitcoins with, because they use all their money for food and still they starve.

A phrase made popular by the US president John F. Kennedy applies . . .

A rising tide lifts all boats.

I dont think this concept addresses Billysweird's point exactly.

However, a point to address billysweird's point would be that bitcoin would provide a lot for poor people to the extent that they attempt to save anything or to the extent that they may rely upon fiat money systems that disproportionately steal their money.

Poor is relative, of course, and some people in the world are struggling more than other people; however, part of the reason that they are struggling as much as they are is b/c they are exploited in their various financial instruments and the depreciation of their money.  I am NOT sure about whether bitcoin is going to completely resolve these kinds of resource issues b/c the rich frequently find new ways to exploit the poor, but bitcoin has the potential to offer a variety of solutions as compared with fiat money systems.

Poor countries can save in transfer fees with Bitcoin and get direct donations more easily

Having a constantly depreciated currency is very bad when you are poor because your salary doesn't go up as much as the currency goes down and it is hard to save

[bryant.coleman]

and I am pretty confident we are the old dying elite, whose best times have passed

We have survived our biggest challenge to this date (Mt Gox scandal), without much damage. The worst is over and gone, and the best is yet to come. I expect everyone to be optimistic.

[bitpop]

Holding $500 like a rock. Gox people may soon get back some Bitcoin. Good times ahead. Hoping neo bee soon gets thrown in jail for life.

[ChuckBuck]

and I am pretty confident we are the old dying elite, whose best times have passed

We have survived our biggest challenge to this date (Mt Gox scandal), without much damage. The worst is over and gone, and the best is yet to come. I expect everyone to be optimistic.

Definitely feeling optimistic, especially after the China PBOC scare that ultimately amounted to just rumor.

Now just need to keep the positive momentum going with more adoption with companies, positive news, and just spreading the news to the masses.

[bryant.coleman]

Now just need to keep the positive momentum going with more adoption with companies, positive news, and just spreading the news to the masses.

Adoption is increasing, albeit silently. Right now it is the small and medium scale merchants who are adopting BTC. Anyway let's concentrate on them rather than going after big names such as Amazon, Ebay and Facebook. We have already got at least one large-scale seller on our side (Overstock). And I am satisfied with it. 

[ChuckBuck]

Now just need to keep the positive momentum going with more adoption with companies, positive news, and just spreading the news to the masses.

Adoption is increasing, albeit silently. Right now it is the small and medium scale merchants who are adopting BTC. Anyway let's concentrate on them rather than going after big names such as Amazon, Ebay and Facebook. We have already got at least one large-scale seller on our side (Overstock). And I am satisfied with it. 

True, it seems that small businesses have the most to gain, as far as profit margin goes, from Bitcoin:

http://www.coindesk.com/small-businesses-enjoy-success-accepting-bitcoin/

[bitpop]

I just spent $1k at tiger direct using Bitcoin

[SlipperySlope]

I just spent $1k at tiger direct using Bitcoin

Hooray.

It is hard to believe, but Peter_R and I calculated that according to his Metcalfe Law model of bitcoin prices, if we increase the permanent number of daily bitcoin transactions by one, then the bitcoin market cap increases by over $100K.

I try to participate in a bitcoin transaction every day.

[BitChick]

I just spent $1k at tiger direct using Bitcoin

Hooray.

It is hard to believe, but Peter_R and I calculated that according to his Metcalfe Law model of bitcoin prices, if we increase the permanent number of daily bitcoin transactions by one, then the bitcoin market cap increases by over $100K.

I try to participate in a bitcoin transaction every day.

Wow.  That is really crazy.  In a way as a Bitcoin community we could increase the price just by using Bitcoin as much as possible then.  I have spent some but it is hard to justify spending them when cash seems so much less valuable.  But perhaps we should all just move more fiat into a place that can be used regularly for buying things we need anyways?  Just thinking here.

[Lauda]

Now just need to keep the positive momentum going with more adoption with companies, positive news, and just spreading the news to the masses.

Adoption is increasing, albeit silently. Right now it is the small and medium scale merchants who are adopting BTC. Anyway let's concentrate on them rather than going after big names such as Amazon, Ebay and Facebook. We have already got at least one large-scale seller on our side (Overstock). And I am satisfied with it. 

Very silently indeed. As time goes by the adoption will increase, despite the bad news that we had/will have.
People just aren't patient enough and tend to panic too easily.

[bitpop]

It's easy when you spend horizontally

And why not get 3% at Amazon via gyft

[bryant.coleman]

I just spent $1k at tiger direct using Bitcoin

Oh.. common.. give us a little more details. What did you bought from tiger direct? How was the experience? Did they charged you any premium (above the exchange rate at that point of time)?

[bitpop]

I just spent $1k at tiger direct using Bitcoin

Oh.. common.. give us a little more details. What did you bought from tiger direct? How was the experience? Did they charged you any premium (above the exchange rate at that point of time)?

Great experience. I bought two bare bones kits. They use bitpay

[SlipperySlope]

It is hard to believe, but Peter_R and I calculated that according to his Metcalfe Law model of bitcoin prices, if we increase the permanent number of daily bitcoin transactions by one, then the bitcoin market cap increases by over $100K.

I try to participate in a bitcoin transaction every day.

Wow.  That is really crazy.  In a way as a Bitcoin community we could increase the price just by using Bitcoin as much as possible then.  I have spent some but it is hard to justify spending them when cash seems so much less valuable.  But perhaps we should all just move more fiat into a place that can be used regularly for buying things we need anyways?  Just thinking here.

Exactly, You spend fiat on necessities. When possible, substitute bitcoin as the payment mechanism even if inconvenient or slightly more costly. Then recharge the spent coin from the fiat that you would have otherwise spent. As the Bitcoin Economy grows, the likelihood increases that the recipient of our coins will hold them or spend them, rather than immediately exchange them back into fiat.

[kingscrown]

i always try to pay in bitcoin when i can