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Gordonium (OP)
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October 24, 2013, 06:05:15 PM |
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Will it happen and when?
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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VolanicEruptor
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October 24, 2013, 06:05:47 PM |
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Will it happen and when?
3013 |
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wobber
Legendary
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Activity: 1064
Merit: 1001
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October 24, 2013, 06:10:49 PM |
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I'm kinda tired by this kind of questions:
When will ... ?
What do you think ... ?
Can bitcoin ... ?
Is bitcoin ... ?
Are we ... ?
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If you hate me, you can spam me here: 19wdQNKjnATkgXvpzmSrkSYhJtuJWb8mKs
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Ozymandias
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October 24, 2013, 06:47:35 PM |
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With current purchasing power, assuming 2013 usd is the unit, I honestly doubt that the market cap/monetary base will reach 1 tril usd though 0.5-1 orders of magnitude lower is much more plausible and still not too shabby.
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adamstgBit
Legendary
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Activity: 1904
Merit: 1037
Trusted Bitcoiner
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October 24, 2013, 07:05:00 PM |
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yes, soon  |
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rocks
Legendary
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Activity: 1153
Merit: 1000
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October 24, 2013, 07:05:54 PM |
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With current purchasing power, assuming 2013 usd is the unit, I honestly doubt that the market cap/monetary base will reach 1 tril usd though 0.5-1 orders of magnitude lower is much more plausible and still not too shabby.
1 trillion is still a fraction of the current value of Gold out there. And that is the manipulated paper value of gold, if it was treated like a reserve asset, Gold would be 10x in price. 1 trillion is easy if the world starts to see bitcoin as a reserve asset that can not be stolen through inflation. |
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adamstgBit
Legendary
Offline
Activity: 1904
Merit: 1037
Trusted Bitcoiner
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October 24, 2013, 07:08:42 PM |
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With current purchasing power, assuming 2013 usd is the unit, I honestly doubt that the market cap/monetary base will reach 1 tril usd though 0.5-1 orders of magnitude lower is much more plausible and still not too shabby.
1 trillion is still a fraction of the current value of Gold out there. And that is the manipulated paper value of gold, if it was treated like a reserve asset, Gold would be 10x in price. 1 trillion is easy if the world starts to see bitcoin as a reserve asset that can not be stolen through inflation. if the world could only realize what a bitcoin is. if you still don't know what a bitcoin is, this video is for you -> http://www.youtube.com/watch?v=HYSEwwOt_ic |
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ArticMine
Legendary
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Activity: 2282
Merit: 1050
Monero Core Team
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October 24, 2013, 07:08:54 PM |
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If Bitcoin has a growth pattern comparable to that of the Internet since the mid 1990's I would say around 2023 - 2028.
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wasserman99
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October 24, 2013, 07:38:54 PM |
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no, i think bitcoin encryption will be broken before that point.
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Pente
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October 24, 2013, 09:00:32 PM |
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Will it happen and when?
Years away, but not decades. |
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CryptoMinter
Newbie
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Activity: 53
Merit: 0
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October 24, 2013, 09:40:47 PM |
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I'm kinda tired by this kind of questions:
When will ... ?
What do you think ... ?
Can bitcoin ... ?
Is bitcoin ... ?
Are we ... ?
I think you posted this under the wrong section maybe? "Speculation" |
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Chalkbot
Legendary
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Activity: 896
Merit: 1001
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October 24, 2013, 09:52:37 PM |
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I'm kinda tired by this kind of questions:
When will ... ?
What do you think ... ?
Can bitcoin ... ?
Is bitcoin ... ?
Are we ... ?
I think you posted this under the wrong section maybe? "Speculation" Hehe, I was thinking he must HATE it every time he accidentally clicks "Speculation". |
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somestranger
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October 24, 2013, 10:22:16 PM |
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My guess is around 2017 or 2018 we will see a $1T market cap.
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theonewhowaskazu
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October 24, 2013, 11:20:52 PM |
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no, i think bitcoin encryption will be broken before that point.
What the heck is 'bitcoin encryption...'  Unless you're talking about public/private keys, which would be absurd to try and 'break' considering their huge quantity, you can't just 'decrypt' bitcoins and somehow steal them that way. |
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tomatitotarifa
Newbie
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Activity: 27
Merit: 0
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October 24, 2013, 11:41:32 PM |
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I'm kinda tired by this kind of questions:
When will ... ?
What do you think ... ?
Can bitcoin ... ?
Is bitcoin ... ?
Are we ... ?
May I suggest it is easy. Stop clicking on posts starting with When will ... ? What do you think ... ? Can bitcoin ... ? Is bitcoin ... ? Are we ... ?When wil...? |
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Zaih
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October 25, 2013, 01:16:38 AM |
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8 hours 23 mins
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telemaco
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October 25, 2013, 01:54:01 AM |
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In 30 trillion millisecondcoins
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vpitcher07
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October 25, 2013, 02:10:11 AM |
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no, i think bitcoin encryption will be broken before that point.
What encryption will be broken? SHA? That's not really how the system works.. I mean technically aren't miners breaking SHA everytime a block is found lol |
Bitcoin: The currency of liberty
1HBJSf3Lm9i8KxjZ7fuoN9FJ8hniniFbv4
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Hfleer
Sr. Member
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Activity: 448
Merit: 250
Changing avatars is currently not possible.
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October 25, 2013, 02:27:29 AM |
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I'd like to see that number, but it could take quite some time. Bitcoin seems to be fluctuating a lot lately.
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Pente
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October 26, 2013, 06:36:11 PM |
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no, i think bitcoin encryption will be broken before that point.
What encryption will be broken? SHA? That's not really how the system works.. I mean technically aren't miners breaking SHA everytime a block is found lol It is just the leading 30 to 40 bits (depending on current difficulty) of a 256 bit SHA result? Remember, each additional bit doubles the amount of time. I doubt we will ever even hit 100 bits of difficulty (as in the first 100 bits of the random hash must result in a zero) within our lifetimes. |
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