|
interlagos
|
 |
December 14, 2014, 01:19:24 AM |
|
Now that MSFT is onto it, we are one step closer to the new "PoWers that BTC"
and yet the price remains rocket free. That's ok. We need both - growing adoption and affordable price. I wouldn't expect much of a price action before scalability upgrade next year. Maybe denomination to a smaller unit at the same time would help reduce psychological barrier to entry. |
|
|
|
|
|
|
|
|
|
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
CoinCidental
Legendary
 Offline
Activity: 1316
Merit: 1000
Si vis pacem, para bellum
|
|
December 14, 2014, 03:26:10 AM |
|
Now that MSFT is onto it, we are one step closer to the new "PoWers that BTC"
and yet the price remains rocket free. That's ok. We need both - growing adoption and affordable price. I wouldn't expect much of a price action before scalability upgrade next year. Maybe denomination to a smaller unit at the same time would help reduce psychological barrier to entry. It will help when people can acquire mbits easily and cheaply.... Some People will think xxxx dollars for a Bitcoin sounds expensive but x dollars for an mbit would be more acceptable.... |
|
|
|
|
|
Q7
|
|
December 14, 2014, 03:30:47 AM |
|
I hope that I'm still alive when it reaches 10000 and I hope someday when I look back to this day when I made this post, I'll still be considered the band of early adopters. Anything is possible...
|
|
|
|
|
HeroCat
|
|
December 14, 2014, 02:27:47 PM |
|
It is hard to say - but where you see that new wealthy elite here, even some BTC lending is a problem. Just look in the lending section and you will see so called "new wealthy elite".  |
|
|
|
|
wadili89
Legendary
Offline
Activity: 1106
Merit: 1000
|
|
December 14, 2014, 02:34:08 PM |
|
Why is the OP Anonymous? The account got banned and deleted?
|
|
|
|
|
CoinRocka
|
|
December 14, 2014, 02:37:41 PM |
|
People forget the numbers. If everyone in New York state wanted to buy one bitcoin, they could not. This is a world wide phenomenon and if this hyper-bitcoinization event does occur, it will be of epic proportions. Go vertical baby....2017!  |
|
|
|
|
sumantso
Legendary
Offline
Activity: 1050
Merit: 1000
|
|
December 14, 2014, 03:00:50 PM |
|
People forget the numbers. If everyone in New York state wanted to buy one bitcoin, they could not. This is a world wide phenomenon and if this hyper-bitcoinization event does occur, it will be of epic proportions. Go vertical baby....2017! You missed an If in there. I have no doubt Crypto movement is going to change the way how finance works, but its yet to be seen whether its going to be Bitcoin. I personally feel its not. |
|
|
|
QuestionAuthority
Legendary
Offline
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
|
|
December 14, 2014, 03:04:18 PM |
|
Why is the OP Anonymous? The account got banned and deleted?
Yes, it's been explained about 50 times in this thread! The OP was a disturbed 16-17 year old boy from Texas. He was one of those depressed type kids that probably had a bad family situation. He claimed he was a nihilist (probably because of a bad living situation) and bombed the forum with his tales of woe. His first nick here was Atlas. He would go to the SomethingAwful forum too, spout the same crap he did here and was publicly humiliated on that forum multiple times. He kept getting banned and coming back as a different character but was easy to spot because there was one common depressing theme to all of his posts. His depression finally caught up to him when he threatened to commit suicide. Shortly after that he was permanently IP banned. His posting name is now labeled Anonymous because he's no longer a member of this forum. |
|
|
|
|
CoinRocka
|
|
December 14, 2014, 03:17:42 PM |
|
People forget the numbers. If everyone in New York state wanted to buy one bitcoin, they could not. This is a world wide phenomenon and if this hyper-bitcoinization event does occur, it will be of epic proportions. Go vertical baby....2017! You missed an If in there. I have no doubt Crypto movement is going to change the way how finance works, but its yet to be seen whether its going to be Bitcoin. I personally feel its not. first mover, adaptable code. |
|
|
|
|
Bit_Happy
Legendary
Offline
Activity: 2100
Merit: 1040
A Great Time to Start Something!
|
|
December 14, 2014, 05:00:00 PM |
|
I hope that I'm still alive when it reaches 10000 and I hope someday when I look back to this day when I made this post, I'll still be considered the band of early adopters. Anything is possible...
Aim higher, BTC could possibly go over $1,000,000 some day. Remember, once they hit mainstream there is still a very limited supply of Bitcoins. |
|
|
|
|
Flashman
|
|
December 14, 2014, 05:20:27 PM |
|
If you wanna do a real gold<>btc comparison, in terms of rarity 1 BTC = about 10 Kilograms of gold, do people buy gold in Kg? Hell no, ounces, and there's about 322 of them in 10 kilograms. Even at a bottom of ~$1000 an oz, that's $322,000.
Ahhhh, you might say, but gold is also a commodity... well BTC is becoming one. As the blockchain is going to become used for smart contracts, etherium like programmability, bitcoins are being consumed by proof of burn to envalue tokens to use with these.
|
TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6
Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins. |
|
|
|
slaveforanunnak1
|
|
December 14, 2014, 10:10:58 PM |
|
If you wanna do a real gold<>btc comparison, in terms of rarity 1 BTC = about 10 Kilograms of gold, do people buy gold in Kg? Hell no, ounces, and there's about 322 of them in 10 kilograms. Even at a bottom of ~$1000 an oz, that's $322,000.
Ahhhh, you might say, but gold is also a commodity... well BTC is becoming one. As the blockchain is going to become used for smart contracts, etherium like programmability, bitcoins are being consumed by proof of burn to envalue tokens to use with these.
I have a question, why is the OP of this post An..hahaha JK. :p Gold has no freaking value. The reason every human is programmed TO LOVE GOLD is, well, complicated. https://www.youtube.com/watch?feature=player_detailpage&v=V7fNBOs1gjo#t=90 |
|
|
|
|
Gundale
Newbie
Offline
Activity: 6
Merit: 0
|
|
December 14, 2014, 10:41:44 PM |
|
How many months do you anticipate BTC prices will be lingering in these $360 to $800 prices?
I am thinking that we could be in this price range for 6 months or potentially longer (maybe up to a year), even though it does seem that the next bubble is more imminent, such as more likely to occur within the next 1-3 months.
My current theory also is that once BTC prices get into the $750 to $850 range, then the taking of profits will likely subside for a short period of time while the masses and the sideline money jump onto the upward momentum train that take us past the previous ATH and into the $3k to $13k price per BTC range. Let's say on average at the moment anticipating a $7,500 price per BTC would put BTC market cap at approximately $105 billion. Such a market cap does NOT seem outside of reason given the amount of infrastructure building in the BTC space (and the sheer powerfulness of the BTC computing network).... but even $7.5k per BTC may NOT be sustainable until after the next halfing of BTC mining production.. and until more BTC infrastructure is built.... but yep, BTC prices can surely escalate into a couple more 5x to 10x bubbles so long as the network and adoption keeps expanding at extrapolated levels of its current pace.
100billions of market cap is not out of the question at all if there are hints that Bitcoin could get way bigger in a few years One of the Winklevii predicted 400 billion ($40,000 per coin) "Small bull case scenario for Bitcoin is a 400 billion USD dollar market cap, so 40,000 USD a coin, but I believe it could be much larger. When this will happen, if it happens, I don't know, but if it happens, it will probably happen much faster than anyone imagines." http://cryptologie.net/article/45/cameron-winklevoss-ama-on-reddit/I'm just posting this up for my future self to look on and wonder if it ever hit that mark. I'm not so sure but obviously would love it if it did Good luck everyone . . . |
|
|
|
|
|
fabiola!
|
|
December 14, 2014, 11:42:03 PM |
|
I didn't know we are allowed to post threads anonymously. How do I do that?
You have to get banned. Lol I wonder why he got banned He was banned because he kept posting threads showing the romantic blue mood lighting in his room. lol I think he committed suicide yes ? The last I recall was everyone here cheering him on to do it.... lol I was just thinking about him the other day ( not sexually ) . Cheering him on to do it? Not sexually? I must have missed a really interesting few years He's joking obvs, if not I'm really disappointed that you guys would cheer someone to kill himself, are u serious? I have not heard that part before. As far as I know there was never an incident when people at this forum were 'cheering' for a suicide. FYI: Atlas was an "Uber-troll", and he was a pretty good one some of the time. Glad to hear that  |
|
|
|
|
JayJuanGee
Legendary
 Online
Activity: 3696
Merit: 10154
Self-Custody is a right. Say no to"Non-custodial"
|
|
December 15, 2014, 12:06:07 AM |
|
If you wanna do a real gold<>btc comparison, in terms of rarity 1 BTC = about 10 Kilograms of gold, do people buy gold in Kg? Hell no, ounces, and there's about 322 352.74 of them in 10 kilograms. Even at a bottom of ~$1000 an oz, that's $322,000 $352,740.
Ahhhh, you might say, but gold is also a commodity... well BTC is becoming one. As the blockchain is going to become used for smart contracts, etherium like programmability, bitcoins are being consumed by proof of burn to envalue tokens to use with these.
FTFY - Personally, I am NOT sure about whether the value of gold is a reliable comparison point for the valuation of BTC because BTC has so many other uses, beyond the uses of gold, but then again BTC has a variety of vulnerabilities too - including the fact that a variety of entities seem to want to sabotage BTC or to steal from it through very new and modern technological methods (though similar things have been happening with gold from a bit of a different angle). $352,740 per BTC would put market cap over $5 trillion, and surely that seems to be within reasonable levels of contemplation if BTC were to near the equivalent valuation of gold - depending on the level of competitiveness of various substitute value storage mechanisms.... including alt coins. I am NOT going to hold my breath for $352,740 per BTC, but I might hold my breath for some smaller fraction of a price - maybe $3,527.40 per BTC within the next 1 month to 1 year (yes, since I am NOT a bot, I admit that I cannot hold my breath, even that long).  |
1) Self-Custody is a right. There is no such thing as "non-custodial" or "un-hosted." 2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized. 3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
|
|
|
|
Flashman
|
|
December 15, 2014, 12:12:19 AM |
|
Thanks for the correction, but you should have been correcting me on failing to mention that I used the troy ounce, which is standard for gold weight, which is about 10% bigger than a standard imperial ounce.
|
TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6
Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins. |
|
|
JayJuanGee
Legendary
Online
Activity: 3696
Merit: 10154
Self-Custody is a right. Say no to"Non-custodial"
|
|
December 15, 2014, 04:16:48 AM |
|
Thanks for the correction, but you should have been correcting me on failing to mention that I used the troy ounce, which is standard for gold weight, which is about 10% bigger than a standard imperial ounce.
Hehehehehehehe... I don't know any of those kinds of technicalities....   |
1) Self-Custody is a right. There is no such thing as "non-custodial" or "un-hosted." 2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized. 3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
|
|
|
wadili89
Legendary
Offline
Activity: 1106
Merit: 1000
|
|
December 15, 2014, 06:58:39 AM |
|
Why is the OP Anonymous? The account got banned and deleted?
Yes, it's been explained about 50 times in this thread! The OP was a disturbed 16-17 year old boy from Texas. He was one of those depressed type kids that probably had a bad family situation. He claimed he was a nihilist (probably because of a bad living situation) and bombed the forum with his tales of woe. His first nick here was Atlas. He would go to the SomethingAwful forum too, spout the same crap he did here and was publicly humiliated on that forum multiple times. He kept getting banned and coming back as a different character but was easy to spot because there was one common depressing theme to all of his posts. His depression finally caught up to him when he threatened to commit suicide. Shortly after that he was permanently IP banned. His posting name is now labeled Anonymous because he's no longer a member of this forum. Sounds rough. Thanks for explaining again, from your response it seems like you have done it earlier. |
|
|
|
|
Possum577
|
|
December 15, 2014, 07:17:38 AM |
|
People forget the numbers. If everyone in New York state wanted to buy one bitcoin, they could not. This is a world wide phenomenon and if this hyper-bitcoinization event does occur, it will be of epic proportions. Go vertical baby....2017! This is a really simple and powerful point. I may start thinking differently about the future of this thing. |
|
|
|
|
turvarya
|
|
December 15, 2014, 07:57:46 AM |
|
Thanks for the correction, but you should have been correcting me on failing to mention that I used the troy ounce, which is standard for gold weight, which is about 10% bigger than a standard imperial ounce.
Why can't we just use the metric system all along? I mean seriously? When someone says "ounce", you can't even be sure, about which ounce he is talking about? |
|
|
|
|
