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

[Beliathon]

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 your money where your mouth is means you are commendable
Since most of us here are more or less long term users of Bitcoin and think a google ceo mentioned 90% are holders 10% speculate we will remain the new wealthy elite.

Interesting, I've never heard that statistic before. Can anyone confirm this ?

I do agree though that the smart money is on holding, though. I'm all in and been holding for over a year and counting. No regrets so far.

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[Swordsoffreedom]

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 your money where your mouth is means you are commendable
Since most of us here are more or less long term users of Bitcoin and think a google ceo mentioned 90% are holders 10% speculate we will remain the new wealthy elite.

Interesting, I've never heard that statistic before. Can anyone confirm this ?

I do agree though that the smart money is on holding, though. I'm all in and been holding for over a year and counting. No regrets so far.

I can partially confirm this for you its from a Forbes article so I consider it confirmable
I think it was a Google ceo quoting the guy since I recall reading that in an article a while back.
I can't remember where the original article is though but I believe it was based on this and the topic if I recall was about speculation services.
http://www.forbes.com/sites/samanthasharf/2014/01/15/10-one-perspective-on-what-bitcoin-will-be-worth-in-2014/

[serenitys]

Re Google - several weeks ago I pointed out a few places about Google Glass being released with the EAZE app.

Here's an update...in case anyone here was concerned about the implosion of bitcoin any time soon.

http://techcrunch.com/2014/05/16/new-google-glass-app-lets-you-nod-to-pay-with-bitcoin-will-add-dollars-this-summer/

Some hints about what Google's up to and who it's up to it with.

*Here's to the future, ladies and gentlemen...*

[JayJuanGee]

I just bought a 10 bitcoin laptop so that I could read this thread from my yacht.

After I post this message I will toss it into the water to see what kind of bubbles it makes.

Congratulations!!!!!    It appears that you have already reached the goal of the aspired to elitist, to be able to live with disregard and to wipe your butt with $100 bills.   

[JayJuanGee]

I am pretty confident the people who got into BTC after the last bubble will never be the wealthy elite thought bitcoin, gentlemen.


/willy report

Why do you say that? 

Some peeps could have gotten in with average BTC prices of between $400 and $600 (Let's say $500 per BTC), and possibly purchased $100K worth.  Let's say 200 BTC.  That will put these purchasers in a real decent position when bitcoin goes to $10k and above.  Maybe NOT filthy rich, but pretty decent - especially if they can hang onto their bitcoins for additional increases up in the $50-$100K per BTC range.

[Ron~Popeil]

I am pretty confident the people who got into BTC after the last bubble will never be the wealthy elite thought bitcoin, gentlemen.


/willy report

Why do you say that? 

Some peeps could have gotten in with average BTC prices of between $400 and $600 (Let's say $500 per BTC), and possibly purchased $100K worth.  Let's say 200 BTC.  That will put these purchasers in a real decent position when bitcoin goes to $10k and above.  Maybe NOT filthy rich, but pretty decent - especially if they can hang onto their bitcoins for additional increases up in the $50-$100K per BTC range.

This market has a ton of room to grow. Even one bit coin might make you wealthy in the future. It depends on world events etc so there is no real way to know but it certainly has that kind of potential.

[JayJuanGee]

I am pretty confident the people who got into BTC after the last bubble will never be the wealthy elite thought bitcoin, gentlemen.


/willy report

Why do you say that? 

Some peeps could have gotten in with average BTC prices of between $400 and $600 (Let's say $500 per BTC), and possibly purchased $100K worth.  Let's say 200 BTC.  That will put these purchasers in a real decent position when bitcoin goes to $10k and above.  Maybe NOT filthy rich, but pretty decent - especially if they can hang onto their bitcoins for additional increases up in the $50-$100K per BTC range.

This market has a ton of room to grow. Even one bit coin might make you wealthy in the future. It depends on world events etc so there is no real way to know but it certainly has that kind of potential.

I agree with you, Ron P... and that is why I requested that Dafar clarify his statement.  I found his statement to be a little bit confusing.

[Beliathon]

I am pretty confident the people who got into BTC after the last bubble will never be the wealthy elite thought bitcoin, gentlemen.

I'm pretty confident you're a moron.

Your bitcoin worth depends on two factors, not one. How much fiat you invested is the factor you are forgetting.

If you invested 18 months ago, but you only had $20 to invest, you will have less money than someone who invests today with $20,000 or 2 million.

Tragically, Bitcoin is not a reset button. wealth from the old world will indeed carry over into the new one.

Bitcoin is however a pause button, and humanity is very fortunate for it's timely arrival.

[dooglus]

Wish i was a part of this thread early long before the boom..

I would have been happy realizing that i am also a new wealthy elite....

Quoted for future fun, btc@566$

3 days later, and we just saw the price crash from $683 to $640 and it's still 13% higher than after cuddaloreappu missed the boom...

[cuddaloreappu]

Wish i was a part of this thread early long before the boom..

I would have been happy realizing that i am also a new wealthy elite....

Quoted for future fun, btc@566$

3 days later, and we just saw the price crash from $683 to $640 and it's still 13% higher than after cuddaloreappu missed the boom...

now I seriously believe each btc will trade more than 500000 us $.

so yes, I believe I will also join this new wealthy elite eventually

[Beliathon]

Bitcoin has climbed the first few rungs on the logarithmic valuation ladder. That ladder has many rungs. Hundreds.

You reading this now, in June 2014, know that these are still the earliest of days. Know that most of the world hasn't heard of Bitcoin, even now. Fewer still understand it.

And only a tiny fraction know - without any doubt - how this story ends. And so we hold, patiently awaiting the inevitable.

[bitpop]

$50k by Christmas

[keithers]

Wish i was a part of this thread early long before the boom..

I would have been happy realizing that i am also a new wealthy elite....

Quoted for future fun, btc@566$

3 days later, and we just saw the price crash from $683 to $640 and it's still 13% higher than after cuddaloreappu missed the boom...

now I seriously believe each btc will trade more than 500000 us $.

so yes, I believe I will also join this new wealthy elite eventually

Ate you for reals? Those are some pretty lofty hopes. Don't get me wrong, I would love that, but I'm pretty sure btc would have to replace the USD and probably yen and RMB while it's at it to reach those levels...

[bryant.coleman]

now I seriously believe each btc will trade more than 500,000 us $.
so yes, I believe I will also join this new wealthy elite eventually

Do you have any logic behind this quote, or did you just quoted a random figure out of the blue? IMO, exchange rates of $500,000 will only be reached as a result of extensive market manipulation.

[boymilk]

It's probably far too late for anyone joining in 2014 to be part of the "wealthy elite". That opportunity existed in 2009, 2010, 2011, 2012, and early 2013. But not anymore.

That being said, my plan is to get up to 2 BTC. I have about 0.25 BTC now. I'll sell 1 BTC once the price rises enough that I can buy a small house for myself with it (roughly $50,000 per coin should do it). The other coin I'll hodl till the end no matter what happens.

[JayJuanGee]

It's probably far too late for anyone joining in 2014 to be part of the "wealthy elite". That opportunity existed in 2009, 2010, 2011, 2012, and early 2013. But not anymore.

That being said, my plan is to get up to 2 BTC. I have about 0.25 BTC now. I'll sell 1 BTC once the price rises enough that I can buy a small house for myself with it (roughly $50,000 per coin should do it). The other coin I'll hodl till the end no matter what happens.

Some people could afford to invest $50 to 100 per month on BTC (or some larger amount), and just build up their BTC portfolio over the years.. with their spare income.  That is using a dollar cost averaging method to invest into BTC by using a specific amount of fiat at set intervals.. as you earn it. 

However, if people know about BTC and believe that BTC will be going up in value, then they have the ability to create hybrid dollar cost averaging, and that would be to attempt to front-load their investment and/or to time the market to buy more BTC when the prices are lower. 

Accordingly, NOW, seems to be a good time to buy at a lower relative rate b/c BTC prices seem to be on a precipice of advancing into a $1,000+ price range within the next few months, if NOT sooner.

[Elwar]

I'll sell 1 BTC once the price rises enough that I can buy a small house for myself with it (roughly $50,000 per coin should do it). The other coin I'll hodl till the end no matter what happens.

Sell bitcoin so that you can buy something with fiat?

I do not understand this concept.

[deloreanz]

now I seriously believe each btc will trade more than 500,000 us $.
so yes, I believe I will also join this new wealthy elite eventually

Do you have any logic behind this quote, or did you just quoted a random figure out of the blue? IMO, exchange rates of $500,000 will only be reached as a result of extensive market manipulation.

I could see it hitting this number easily depending on what it displaces.  The gold market has a total value of $6 trillion last I checked, remittances at $300 billion, and e-commerce at $300 billion as well.  If bitcoin could supplant even 1% of these markets it could be valued at about $300k.

[boymilk]

It's probably far too late for anyone joining in 2014 to be part of the "wealthy elite". That opportunity existed in 2009, 2010, 2011, 2012, and early 2013. But not anymore.

That being said, my plan is to get up to 2 BTC. I have about 0.25 BTC now. I'll sell 1 BTC once the price rises enough that I can buy a small house for myself with it (roughly $50,000 per coin should do it). The other coin I'll hodl till the end no matter what happens.

Some people could afford to invest $50 to 100 per month on BTC (or some larger amount), and just build up their BTC portfolio over the years.. with their spare income.

That's pretty much what I've been doing. I put in $20 two weeks ago, $50 about a month or two ago, and about $100 during the Mt. Gox crisis earlier this year.

I'll sell 1 BTC once the price rises enough that I can buy a small house for myself with it (roughly $50,000 per coin should do it). The other coin I'll hodl till the end no matter what happens.

Sell bitcoin so that you can buy something with fiat?

I do not understand this concept.

I'll let go of one of my bitcoins when 1 BTC buys you a small house. The fiat would just be the intermediate step unless the seller also happens to be into Bitcoin as well.

EDIT: some minor rewording

[MegaHustlr]

Wish i was a part of this thread early long before the boom..

I would have been happy realizing that i am also a new wealthy elite....

Quoted for future fun, btc@566$

3 days later, and we just saw the price crash from $683 to $640 and it's still 13% higher than after cuddaloreappu missed the boom...

What we find out from this is that there is never a bad time to buy in