Luciddd (OP)
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June 05, 2013, 11:18:49 AM |
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Mark my words.
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anu
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RepuX - Enterprise Blockchain Protocol
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June 05, 2013, 11:36:32 AM |
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Mark my words. Thats commonplace. The real question is: Will Bitcoin hyperdeflate faster than $ hyperinflates?
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josiahgarber
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June 05, 2013, 11:52:48 AM |
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Mark my words. How do you figure?
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Luciddd (OP)
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June 05, 2013, 12:22:32 PM |
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Mark my words. How do you figure?
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naphto
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June 05, 2013, 12:25:23 PM |
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Mark my words. Earth will probably die before that point. Or maybe your not refering to 1 million usd, but 1 million air molecules?
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Zaih
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June 05, 2013, 12:32:05 PM |
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Sounds like a deal to me.
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notme
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June 05, 2013, 12:33:19 PM |
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Mark my words. Earth will probably die before that point. Or maybe your not refering to 1 million usd, but 1 million air molecules? $10k in 1913 would buy you the same as 0.5 - 2 million today. If we see similar performance of the dollar over the next hundred years, this would be roughly equivalent to a $10k bitcoin today. It might not even exist in 100 years, but if it does $1 million isn't completely insane. Unless you are saying Earth will die before then?
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naphto
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June 05, 2013, 12:49:00 PM |
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$10k in 1913 would buy you the same as 0.5 - 2 million today. If we see similar performance of the dollar over the next hundred years, this would be roughly equivalent to a $10k bitcoin today. It might not even exist in 100 years, but if it does $1 million isn't completely insane. Unless you are saying Earth will die before then?
I don't get it. With +2 % average per year, 10k in 1913 = 72.44k now. How could it be 0.5 - 2 million? And even if that was true, which is obviously not the case, that does not prove that the bitcoin price, will, should or even might increase with time ... Bitcoin is worth nothing. That's not like a house, a car, or something you can use.
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notme
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June 05, 2013, 01:06:44 PM |
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$10k in 1913 would buy you the same as 0.5 - 2 million today. If we see similar performance of the dollar over the next hundred years, this would be roughly equivalent to a $10k bitcoin today. It might not even exist in 100 years, but if it does $1 million isn't completely insane. Unless you are saying Earth will die before then?
I don't get it. With +2 % average per year, 10k in 1913 = 72.44k now. How could it be 0.5 - 2 million? http://www.measuringworth.com/ppowerus/This isn't exactly what I was looking at before, but type in 1913, $10,000 and 2013. In 2012, the relative value of $10,000.00 from 1913 ranges from $177,000.00 to $4,010,000.00.
So we have at least double your estimate. And even if that was true, which is obviously not the case, that does not prove that the bitcoin price, will, should or even might increase with time ... Bitcoin is worth nothing. That's not like a house, a car, or something you can use.
Tell that to all the people buying it with dollars, yen, euro, yuan, rmb, rubles, pesos, etc.
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worldinacoin
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June 05, 2013, 01:07:49 PM |
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Those early adopters with 100k BTC wallets are already millionaires.
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Manna
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June 05, 2013, 01:12:05 PM |
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Money is only worth it, because people accept and believe in a currency and is sometimes backed up by gold from the central banks. When nobody accepts Euro or Dollar it is also worth nothing. Currency estimation of price is a thing of acceptance and belief.
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Luciddd (OP)
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June 05, 2013, 01:13:32 PM |
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escrow.ms
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June 05, 2013, 01:14:33 PM |
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Mark my words. And you will laugh when there will be millions of millionaires and no one will be ready to buy their bitcoins.
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ElectricMucus
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Marketing manager - GO MP
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June 05, 2013, 01:21:09 PM |
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Money is only worth it, because people accept and believe in a currency and is sometimes backed up by gold from the central banks. When nobody accepts Euro or Dollar it is also worth nothing. Currency estimation of price is a thing of acceptance and belief.
And the application of force. If I owe you bitcoins and you live in the US I can pay you back in USD and there is nothing you can do about it as long as the US exists. Plus you have to hold some in order to pay taxes or you go to jail.
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Elwar
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Viva Ut Vivas
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June 05, 2013, 06:42:42 PM |
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When Bitcoin is worth a million dollars I plan on using mine to buy a loaf of bread.
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin.
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kokojie
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June 05, 2013, 10:05:38 PM |
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$10k in 1913 would buy you the same as 0.5 - 2 million today. If we see similar performance of the dollar over the next hundred years, this would be roughly equivalent to a $10k bitcoin today. It might not even exist in 100 years, but if it does $1 million isn't completely insane. Unless you are saying Earth will die before then?
I don't get it. With +2 % average per year, 10k in 1913 = 72.44k now. How could it be 0.5 - 2 million? And even if that was true, which is obviously not the case, that does not prove that the bitcoin price, will, should or even might increase with time ... Bitcoin is worth nothing. That's not like a house, a car, or something you can use. I don't get it, why do you assume average inflation is 2%? It's more like 5%. $10k buys you a nice mansion in 1913, a nice house in 1963, and barely a bathroom today.
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btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
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chriswilmer
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June 05, 2013, 10:28:28 PM |
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Those early adopters with 100k BTC wallets are already millionaires.
Is everyone bad at arithmetic today? 10k BTC is over a million USD TODAY! (just look at the bitcoin pizza index at http://www.ounce.me/)
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Le Happy Merchant
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June 05, 2013, 11:16:11 PM |
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When Bitcoin is worth a million dollars I plan on using mine to buy a loaf of bread.
This clever mother-f***** right here.
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Luciddd (OP)
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June 05, 2013, 11:39:50 PM |
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When Bitcoin is worth a million dollars I plan on using mine to buy a loaf of bread.
This clever mother-f***** right here. looool
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zoinky
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June 06, 2013, 12:09:00 AM |
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By the time this day comes, a million dollars won't be what it is today.
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