BTC is about to be $5K-$8K ++

[zimmah]

Seriously in what 3rd world country do you live that you can get anywhere with less than 1 million dollars?

Even $1,000,000 isn't a lot of money anymore these days.

That's a figure that deserves a little more respect than you're giving it. The majority of people wherever they are will never, ever have access to anywhere near that amount in their entire lives.

In my own first world country that would be enough to buy a modest wee house and 2-3 others to provide a low income.

lol...its not a lot.... just ask the Donald....life wasn't so easy for him. He had to start with only $1,000,000 loan from his dad. That he had to pay back. The horror.
seriously though, 1 million is an astounding amount of money anywhere even in USA. just interest alone on that amount would give you income greater than over 60% of the us population....just the interest.

maybe a decade ago, but right now most banks don't even pay interest anymore, they're just as likely to charge interest.

Even if you earn an average salary in a first world country you're expected to make about $2 million in your lifetime, but most of it will go towards mortgage payment, food, gas, and other necessities, so you won't ever get to save a million.

Sure, a million isn't money most of us have laying around the house, I mean most people struggle getting even 1% of that on the bank and keeping it there. But don't overestimate the value of a million.

Being a millionaire won't allow you to just buy whatever you like and it won't make you rich beyond believe. This is what I am trying to warn you for.

Don't go thinking "I'm a millionaire now, I can buy whatever the hell I want and it won't even make a dent in my bank account" If you do that, it will be gone before you know it.

You'd need far more than 1 million to be able to spend as much as you please without worrying about money.

But, if you handle your money with a bit of care than a million can get you a long way.

[zimmah]

Seriously in what 3rd world country do you live that you can get anywhere with less than 1 million dollars?

Even $1,000,000 isn't a lot of money anymore these days.

Are you serious at all dude???
If you give me 1 million bucks, I would easily live my whole life king-size and die like the same...
If you think it ain't anything and if you have something bigger to share, why don't you just come ahead and share it with us if it's nothing for you??? 

no you won't

you'd spent it on a car a house and poof gone is your money.


if think you can throw money around like peanuts just because you have a million of them, you won't have a million for long.

[zimmah]

Financial professionals usually suggest that you can safely use 4% each year without even decreasing principal (due to appreciation). A healthy mix of stocks, bonds, RE and alternatives is needed, though.

These "financial professionals" have an approach that is fundamentally mistaken.
The first priority when investing is to be protected from loss, but you are always exposed to risk with any traditional or alternative asset, so to "diversify" into a "healthy mix" of assets does not actually protect from loss.
If there truly exists a diversified strategy or portfolio that did well during the previous market meltdown while consistently producing >4% average returns, then let's identify it and discuss it.
What you should be doing with $1M is acquiring assets that will always protect your principal. Most people are not even aware that these exist.

what kind of assets?

just asking in case bitcoin becomes worth enough that i have to worry about these things.

[Amph]

But even $100.000 isn't a life-changing amount, sure, it's nice to have, but it's not like you can stop working after having $100.000 And wasting it on a car/house/holiday is stupid.

I might invest it to start a company or something, and in that way it might be lifechanging, but even than investing all of it would be risky. So i'd probably only risk a small portion of it.

$1M might change my life a bit. I will use half of that to improve my quality and invest the rest. Maybe 25% in bitcoin, and 25% in stocks and shares.

$1M ? Are you serious

he has 0.35 BTC LOL

Seriously in what 3rd world country do you live that you can get anywhere with less than 1 million dollars?

Even $1,000,000 isn't a lot of money anymore these days.

this is something that always interest me, how many think that you need tons of million to conduct a good life, no you don't need ton's of million, unless you like to buy expensive things, which in most case are useless, and only a way to tell the other that you're rich

i'm not interested in this, with 500k i could finish this life easily, 1 small house 50-100 square meters, 5k euro per year, and i'm done i can pay everything

foods cost me 200-250 per month, which is the major thing, the remaining stuff are clothes, cheap things, i don't like to spend too much in clothes

and then you have utility bills, which if you're alone should be a total of 50-100(including all of them) per month

then i have other money to buy videogame which i love, and part of my computer, smartphone every 3 years etc..., that's it, if you think i care about yatch/big house/traveling/etc..., no i don't give a damn about those stuff....

[jt byte]

It isn't impossible, but I think it would require loads of time before we get there: with massive adaption and full support from the merchants and consumers too. For now, let's focus on the realistic goals such as $320 and somewhere near it.

I think that the OP speculated price is possible.
But maybe after few years when bitcoin become more popular.
For now it is a lot about 1500% change but there aren't much coins available.

[randy8777]

It isn't impossible, but I think it would require loads of time before we get there: with massive adaption and full support from the merchants and consumers too. For now, let's focus on the realistic goals such as $320 and somewhere near it.

I think that the OP speculated price is possible.
But maybe after few years when bitcoin become more popular.
For now it is a lot about 1500% change but there aren't much coins available.

it probably needs 10 years before we see a price anywhere near the $5000 to $8000. patience is the key to profit. i will definitely hold for plenty of years.

[jt byte]

It isn't impossible, but I think it would require loads of time before we get there: with massive adaption and full support from the merchants and consumers too. For now, let's focus on the realistic goals such as $320 and somewhere near it.

I think that the OP speculated price is possible.
But maybe after few years when bitcoin become more popular.
For now it is a lot about 1500% change but there aren't much coins available.

it probably needs 10 years before we see a price anywhere near the $5000 to $8000. patience is the key to profit. i will definitely hold for plenty of years.

I think that it really depends on the technology trends.
About competition i don't think that any other currency will compete bitcoin.
And another one is advertisement from big companies, but min. 10 years of course until 5-8k

[jaredboice]

10 years until 5k?  Conservatively, if it takes more than 3-4 years to get to 5k, that would be tragic.

[jonald_fyookball]

Most people in the US retire with nothing other than social security so I guess most aren't even living comfortably.

Yep...living on social security is not comfortable, at least it wouldn't be for me.  If you're on a fixed income
from the govt, you have to watch every penny. 

[solid12345]

10 years until 5k?  Conservatively, if it takes more than 3-4 years to get to 5k, that would be tragic.

If Bitcoin stays 10 more years in penny stock territory then it is a total failure.

[Dilla]

10 years until 5k?  Conservatively, if it takes more than 3-4 years to get to 5k, that would be tragic.

If Bitcoin stays 10 more years in penny stock territory then it is a total failure.

Yea these levels are penny stock territory for Bitcoin. If we haven't exponentially grown to 5+ figures in a few years, something went wrong. If you don't think so, you haven't wrapped your head around the potential of Bitcoin and are thinking too small.

[Biodom]

10 years until 5k?  Conservatively, if it takes more than 3-4 years to get to 5k, that would be tragic.

If Bitcoin stays 10 more years in penny stock territory then it is a total failure.

what penny stock?
$4 bil is a solid midcap, right in the middle of $2-10bil range.

[solid12345]

10 years until 5k?  Conservatively, if it takes more than 3-4 years to get to 5k, that would be tragic.

If Bitcoin stays 10 more years in penny stock territory then it is a total failure.

what penny stock?
$4 bil is a solid midcap, right in the middle of $2-10bil range.

Do you realize how tiny even $10 billion is when compared to the market caps of typical S&P 500 companies or global commodities and currencies?

I thought this is supposed to be a history changing global currency, not a small midwestern fast food chain.

Either it hurries up and takes off in the next 1-5 years or be doomed to be seen as a fad IMO.

[dloghwak]

10 years until 5k?  Conservatively, if it takes more than 3-4 years to get to 5k, that would be tragic.

If Bitcoin stays 10 more years in penny stock territory then it is a total failure.

what penny stock?
$4 bil is a solid midcap, right in the middle of $2-10bil range.

Do you realize how tiny even $10 billion is when compared to the market caps of typical S&P 500 companies or global commodities and currencies?

I thought this is supposed to be a history changing global currency, not a small midwestern fast food chain.

Either it hurries up and takes off in the next 1-5 years or be doomed to be seen as a fad IMO.

Said who? Even if it stays in this price range for the next 20 years it wouldn't be a failure, cause we would still be able to send money across the globe with almost no fees by using Bitcoin.
You call it a failure because you wanted to profit from rising Bitcoin prices.

[gentlemand]

The falling block reward is something of an inbuilt time bomb. If the price stays at similar levels then it'll fade away. As Satoshi himself said it either becomes a major deal or it'll dwindle to nothing. I'm sure it could survive as a curio for die hards but it would never progress beyond that.

[gambit1]

When I first heard about bitcoin it was worth less than a dollar and sounded to me like a scam at first. Its now worth over $200 in just a few years. That isn't bad. I think that bitcoin needs more success in awareness and adoption; I don't see what good a higher price would do.

[jaredboice]

10 years until 5k?  Conservatively, if it takes more than 3-4 years to get to 5k, that would be tragic.

If Bitcoin stays 10 more years in penny stock territory then it is a total failure.

what penny stock?
$4 bil is a solid midcap, right in the middle of $2-10bil range.

Do you realize how tiny even $10 billion is when compared to the market caps of typical S&P 500 companies or global commodities and currencies?

I thought this is supposed to be a history changing global currency, not a small midwestern fast food chain.

Either it hurries up and takes off in the next 1-5 years or be doomed to be seen as a fad IMO.

Said who? Even if it stays in this price range for the next 20 years it wouldn't be a failure, cause we would still be able to send money across the globe with almost no fees by using Bitcoin.
You call it a failure because you wanted to profit from rising Bitcoin prices.

OK "dloghwak" lol
Whatever you say.  But please stop talking about people trying to get rich quick with Bitcoin as if it's some kind of faulted mentality.  It's about the REALIZATION that it is extremely valuable and that it will change the world.  IMHO, anyone who continues to attack bitcoin supporters as "get rich quick" fantasies are either missing the point or spreading FUD.  If Bitcoin is what we say it is, then we will absolutely get rich quick.  And if you don't then it's your own stupid fault LOL

[jaredboice]

When I first heard about bitcoin it was worth less than a dollar and sounded to me like a scam at first. Its now worth over $200 in just a few years. That isn't bad. I think that bitcoin needs more success in awareness and adoption; I don't see what good a higher price would do.

How exactly does bitcoin achieve more awareness and adoption without price rising?

[solid12345]

Said who? Even if it stays in this price range for the next 20 years it wouldn't be a failure, cause we would still be able to send money across the globe with almost no fees by using Bitcoin.
You call it a failure because you wanted to profit from rising Bitcoin prices.

To be a truly global currency there would have to be a daily velocity of trillions of dollars moving on the blockchain. There is not enough Bitcoins in existence to handle such large volume accept thru a radical price increase per coin.

And yes I do want to profit because that is what business and commerce exists for, to make money and better your life and provide for your family. I'm not a " get rich quick" schemer but I'm not a communist either and hope it will help me succeed in life.

[jt byte]

When I first heard about bitcoin it was worth less than a dollar and sounded to me like a scam at first. Its now worth over $200 in just a few years. That isn't bad. I think that bitcoin needs more success in awareness and adoption; I don't see what good a higher price would do.

You seems to be lucky when you heard about bitcoin.
But did you really invested a bit at that time or lost that opportunity.
The same maybe would be nowadays after few years when we go back to current time.