chodpaba (OP)
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Activity: 57
Merit: 10
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March 12, 2011, 12:43:29 AM
Last edit: March 20, 2012, 01:12:32 AM by chodpaba |
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ryepdx
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March 12, 2011, 02:00:55 AM |
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If one BTC was equal to $128,000 the smallest unit of trade would be .128 cents.
Given the number of BTC existing today the BTC economy would be worth over $724 Billion. But with 21 Million BTC in circulation that would be equivalent to a cash economy of $2.668 Trillion.
I think you just blew my mind. If we can get the whole world using bitcoins, one BTC will be worth WELL more than a share of BRK.A. Do want. Do want very much. |
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Jered Kenna (TradeHill)
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March 12, 2011, 04:10:09 AM |
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If one Bitcoin was worth the same as one share Berkshire Hathaway....
The faucet would be dry right now.
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moneyandtech.com
@moneyandtech @jeredkenna
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MoonShadow
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Merit: 1010
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March 12, 2011, 04:22:27 AM |
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I guess we need a poll on when we reach parity with BRK.A. I'd say by 2025.
Not in my lifetime. |
"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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johnieeliang
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March 14, 2011, 12:58:31 PM |
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id say wed reach brk.b by 2015
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barbarousrelic
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March 14, 2011, 02:37:15 PM |
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Let it never be said that the Bitcoin community lacks the ability to dream big.
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Do not waste your time debating whether Bitcoin can work. It does work.
"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.
There is no such thing as "market manipulation." There is only buying and selling.
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carp
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Activity: 82
Merit: 10
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March 14, 2011, 07:45:57 PM |
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If one Bitcoin was worth the same as one share Berkshire Hathaway....
The faucet would be dry right now.
Not true, if that were the case, I would gladly ask my personal servant to open his laptop and send in a donation, right after he brings another drink to me in my beach chair on my private island. You think by then the default client will allow sub-cent transactions?  |
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ryepdx
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March 14, 2011, 08:14:19 PM |
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Let it never be said that the Bitcoin community lacks the ability to dream big.
You know, we on these forums have been accused of irrational exuberance a few times before. I've heard people project that bitcoins will be worth at least $4 apiece by the end of the year. Yet I have no idea what such predictions are based on, aside from an assumption that the quadrupling of the value of the bitcoin over the last year will continue into the next year as well. Last year we got Slashdotted, right? So that rise makes sense. But when we keep predicting an upward trend for bitcoins, on what is our optimism founded? What's to keep us from being the next BetaMax? What is our plan? Just wondering. I'd love to be able to do all my transactions in bitcoins. I'd love for all the transactions my transactions are founded on to have been done in bitcoins as well. But what are we doing to make that happen? Could I get a summary of current efforts? A "state of the union," so to speak? |
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carp
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March 14, 2011, 09:24:28 PM |
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Let it never be said that the Bitcoin community lacks the ability to dream big.
Here I am speaking specifically to the relation of BTC to the U.S. Dollar. But we have seen similar effects with other commodities... Oil, gold, etc... As production slows, while demand also grows, the value skyrockets. Well that is very basic simplistic economics. Market value is inversely related to production and directly related to demand. However, we know that production is going to lower. The assumption, which we all hope is going to be correct, but is still an assumption, is that demand will grow. |
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S3052
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Merit: 1000
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March 14, 2011, 09:51:36 PM |
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this, 'our' community should try to come up with new ways to gain more press awareness, which is a great way to drive bitcoin forward
What are your ideas?
And what will you personally do to make it happen?
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carp
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March 14, 2011, 10:05:39 PM |
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Let it never be said that the Bitcoin community lacks the ability to dream big.
Here I am speaking specifically to the relation of BTC to the U.S. Dollar. But we have seen similar effects with other commodities... Oil, gold, etc... As production slows, while demand also grows, the value skyrockets. Well that is very basic simplistic economics. Market value is inversely related to production and directly related to demand. However, we know that production is going to lower. The assumption, which we all hope is going to be correct, but is still an assumption, is that demand will grow. There are a lot of forces at work which will help to ensure that demand grows. Recently, take a look at how banking customers' lives have been complicated by banks trying to weasel out of having to comply with Dodd Frank... Look at recommendations that are coming out of Davos and G20 meetings which promise to raise the bar for entry to international commerce... There is a lot of pressure which will favor adoption of easier ways to transfer 'money', and protect the value of cash holdings... Taa daa! I never stated otherwise. I also think that the market demand for bitcoin stands a good chance of growing from where it is now... which is why I still have the vast majority of the coins that I originally bought... and consider buying more. That said, until it happens, its still an assumption. Any number of things could cause a temporary or permanent dip. If that wasn't true, then this would be a completely risk free investment. |
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marcus_of_augustus
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Eadem mutata resurgo
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March 15, 2011, 11:00:27 AM |
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Someone should be trying to get Charlie Sheen to buy coke on silk road using bitcoins and tell the story on Letterman ...
slashdot effect x10
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silversurfer
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May 15, 2011, 04:41:40 PM |
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Few who own BTC now would have the wherewithal to hold until that level. One of the hardest parts of investing is letting your winners run.
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That which is falling should also be pushed.
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proudhon
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May 15, 2011, 04:47:57 PM |
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Wow. It's fun reading threads like this from a few months ago. I feel I can reasonably expect to see BTC trading at $4 by 2013 |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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Karen Palen
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June 20, 2011, 10:31:04 PM |
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As of right now I am satisfied that Bitcoin appears as a curiosity, much as email once was... Bitcoin, and this community, seem to be moving forward quite swimmingly IMO. In general I agree, but don't forget the 100K+ "curiosities" that are now totally forgotten! At one time AOL "was" the Internet - AOL is still around but who cares? 'I' shall personally seek to make sense of BTC market fundamentals and work to maintain the stability of the system. This includes making sure my own systems are secure and stable. Long term planning for my own operations is an important part of this. As I learn things that I find helpful I shall attempt to share them.
I agree "secure systems" that really do lock out the thieves are fundamental. Problem is that this is neither simple nor straightforward. "mediums for exchange" (fancy word for "money") ALL depend on a huge mass of "people who count" (those who have HUGE amounts of money) BELIEVING that the system really works.
MAKE NO MISTAKE; THIS IS "THE TIME OF TESTING" (KGV Xian Bible) for Bitcoin. If Bitcoin fails these attacks then it is dead, if it survives then it gets to try the "next level"! "Many are called, few are chosen"  |
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Karen Palen
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June 20, 2011, 10:54:42 PM |
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A blast from the past!
Seems like ancient history in Bitcoin time.
"Those who ignore History are doomed to repeat it"! SOME things have changed, but people have not. |
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