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Author Topic: Why bitcoin is worth $1 Trillion  (Read 2723 times)
crazy_rabbit
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April 08, 2013, 04:48:19 PM
 #1

There are now countless threads talking about "where is the support for this price?" And the press calling it a bubble because there is "no support for the price".

Well they are all wrong. The support for bitcoin is the most obvious part, yet no one publicly mentions it.

Bitcoin is encrypted money. Money that you can lock with a secret inside your brain, where no bank, government, or anyone else can take it.

This. Encrypted money. This is why Bitcoin is worth a trillion dollars. If we never spend it on groceries, but hold it like gold, it will still be worth a trillion dollars.

Because bitcoin is the fulfillment of the internet and digital manifest destiny.

Security through numbers, freedom through cryptography.

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April 08, 2013, 06:46:11 PM
 #2

yes!

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April 08, 2013, 06:47:25 PM
 #3

+1

The OP is what in the trade is known as rationally bullish.

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April 08, 2013, 06:49:36 PM
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So much YES to this Smiley total on spot
Best post i ever read in this forum, just Perfect
Max Keiser should brodcast these words in Tv
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April 08, 2013, 06:49:49 PM
 #5

...you can lock with a secret inside your brain, where no bank, government, or anyone else can take it.

This. Encrypted money. This is why Bitcoin is worth a trillion dollars.


Exactly.
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April 08, 2013, 06:53:02 PM
 #6

...you can lock with a secret inside your brain, where no bank, government, or anyone else can take it.

This. Encrypted money. This is why Bitcoin is worth a trillion dollars.


Exactly.

It's actually encrypted money that can be sent over the internet at ridiculously low cost.

It's also a great store of value, in that it's scarce, with a predictable and honest rate of creation.

It's also a payment processor, far more honest and efficient than anything Western Union, PayPal or any of the others have offered us so far.

If it achieves just one percent of its potential in any of these three areas (or one third of one percent in all three) it will already be worth more than 1 trillion dollars.

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April 08, 2013, 06:53:43 PM
 #7

In nemo nos fides

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April 08, 2013, 06:55:28 PM
 #8

This among a few other good reasons. I'm totally overwhelmed by the number of new users in here that think buying BTC at $X and selling it at $X+10 (the top) is all that bitcoin has to offer them.

They have some concrete evidence of why the price can't go past $X, and in all of those scenarios I just see concrete evidence that they don't understand what bitcoin is or what the price even represents.

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April 08, 2013, 07:03:18 PM
 #9

There are now countless threads talking about "where is the support for this price?" And the press calling it a bubble because there is "no support for the price".

Well they are all wrong. The support for bitcoin is the most obvious part, yet no one publicly mentions it.

Bitcoin is encrypted money. Money that you can lock with a secret inside your brain, where no bank, government, or anyone else can take it.

This. Encrypted money. This is why Bitcoin is worth a trillion dollars. If we never spend it on groceries, but hold it like gold, it will still be worth a trillion dollars.

Because bitcoin is the fulfillment of the internet and digital manifest destiny.

Security through numbers, freedom through cryptography.

Governments can torture so no, encrypted anything isn't a threat to any government. It's only going to increase risk to yourself. The best bet is to accept these risks from the start and assume there are no secrets which are kept from governments. The goal should be to make governments accept cryptocurrencies not fear them and to move to governments and countries which are more civilized.


Nothing stops governments from arresting people and torturing them into paying taxes so its easier to just pay the tax up front. Just pay the IRS.
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April 08, 2013, 07:08:30 PM
 #10

...you can lock with a secret inside your brain, where no bank, government, or anyone else can take it.

This. Encrypted money. This is why Bitcoin is worth a trillion dollars.


Exactly.

It's actually encrypted money that can be sent over the internet at ridiculously low cost.

It's also a great store of value, in that it's scarce, with a predictable and honest rate of creation.

It's also a payment processor, far more honest and efficient than anything Western Union, PayPal or any of the others have offered us so far.

If it achieves just one percent of its potential in any of these three areas (or one third of one percent in all three) it will already be worth more than 1 trillion dollars.
Yes but it's not invincible. It will eventually either be taxed or banned. Governments also have trained expert hackers who will steal your money in civilized governments and in uncivilized places you'll be arrested and asked to open your wallets.

Extortion will also happen in the form of mafias which actually act as government.
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April 08, 2013, 07:15:33 PM
 #11

Governments also have trained expert hackers

By and large, entrenched government employees are the ones that couldn't cut it in the private sector. That's not to say that all government employees are incompetent but the incompetent are disproportionally represented in the public sector.

I have much more faith in math, P2P, crypto and the laws of physics than I do in banks or governments.
wopwop
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April 08, 2013, 07:23:45 PM
 #12

yawn this stuff about bitcoin being the future of money and killing bankers is starting to get tiring

find a new story bro
Severian
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April 08, 2013, 07:25:51 PM
 #13

yawn this stuff about bitcoin being the future of money and killing bankers is starting to get tiring

You have that backwards. Central bankers have been boring, tiring and predictable for too long. Time to light a fire under their asses.
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April 08, 2013, 07:51:16 PM
 #14

If there are no speculator and 1% of people (70,000,000) will invest $1000 into FREE MONEY then  we have invested $70B ($70,000,000,000 USD)  and we will split 11M BTC (11,000,000)

result
70,000,000 adopters
$70,000,000,000 market cap.
11,000,000 BTC (today)
====
every own 11,000,000/70,000,000 = 0,157 BTC ($1000 investment)
1 BTC = $70,000,000,000/11,000,000 = $6,364

===
I think FAIR PRICE :-)
crazy_rabbit
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April 08, 2013, 08:05:34 PM
 #15

There are now countless threads talking about "where is the support for this price?" And the press calling it a bubble because there is "no support for the price".

Well they are all wrong. The support for bitcoin is the most obvious part, yet no one publicly mentions it.

Bitcoin is encrypted money. Money that you can lock with a secret inside your brain, where no bank, government, or anyone else can take it.

This. Encrypted money. This is why Bitcoin is worth a trillion dollars. If we never spend it on groceries, but hold it like gold, it will still be worth a trillion dollars.

Because bitcoin is the fulfillment of the internet and digital manifest destiny.

Security through numbers, freedom through cryptography.

Governments can torture so no, encrypted anything isn't a threat to any government. It's only going to increase risk to yourself. The best bet is to accept these risks from the start and assume there are no secrets which are kept from governments. The goal should be to make governments accept cryptocurrencies not fear them and to move to governments and countries which are more civilized.


Nothing stops governments from arresting people and torturing them into paying taxes so its easier to just pay the tax up front. Just pay the IRS.

Just to be clear, I have nothing against being a legal upstanding citizen, and I will be paying tax on my capital gains. But I stick by my OP-  Russia being #1 in google trends for bitcoin is not about letting the government know your secrets.

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crazy_rabbit
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April 08, 2013, 08:06:11 PM
 #16

yawn this stuff about bitcoin being the future of money and killing bankers is starting to get tiring

find a new story bro

you mean the enormous speculative bubble story?

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crazy_rabbit
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April 08, 2013, 08:07:06 PM
 #17

If there are no speculator and 1% of people (70,000,000) will invest $1000 into FREE MONEY then  we have invested $70B ($70,000,000,000 USD)  and we will split 11M BTC (11,000,000)

result
70,000,000 adopters
$70,000,000,000 market cap.
11,000,000 BTC (today)
====
every own 11,000,000/70,000,000 = 0,157 BTC ($1000 investment)
1 BTC = $70,000,000,000/11,000,000 = $6,364

===
I think FAIR PRICE :-)

I could live with that.

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flibbr
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April 08, 2013, 08:13:15 PM
 #18

If there are no speculator and 1% of people (70,000,000) will invest $1000 into FREE MONEY then  we have invested $70B ($70,000,000,000 USD)  and we will split 11M BTC (11,000,000)

result
70,000,000 adopters
$70,000,000,000 market cap.
11,000,000 BTC (today)
====
every own 11,000,000/70,000,000 = 0,157 BTC ($1000 investment)
1 BTC = $70,000,000,000/11,000,000 = $6,364

===
I think FAIR PRICE :-)

I could live with that.

Sounds good to me also.

I love bitcoins - everything about them.
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conspirosphere.tk
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April 08, 2013, 08:33:58 PM
 #19

If there are no speculator and 1% of people (70,000,000) will invest $1000 into FREE MONEY then  we have invested $70B ($70,000,000,000 USD)  and we will split 11M BTC (11,000,000)
result
1 BTC = $70,000,000,000/11,000,000 = $6,364

Not sure, since most of the money is not in private people's hands, not to speak about other financial instruments.
How about backing the Quadrillion Derivatives Death Star by BTC?
1,000,000,000,000 / 11,000,000 = $90,909
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April 08, 2013, 09:32:17 PM
 #20

If there are no speculator and 1% of people (70,000,000) will invest $1000 into FREE MONEY then  we have invested $70B ($70,000,000,000 USD)  and we will split 11M BTC (11,000,000)

result
70,000,000 adopters
$70,000,000,000 market cap.
11,000,000 BTC (today)
====
every own 11,000,000/70,000,000 = 0,157 BTC ($1000 investment)
1 BTC = $70,000,000,000/11,000,000 = $6,364

===
I think FAIR PRICE :-)

Wouldn't most alt coins would be worth atleast a dollar each then?

Not just Lite coins but....different.. alts such as Dev and BBQ coin?



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