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Author Topic: If someone buys Bitcoin today, they'll be lucky to see a 300%+ ROI.  (Read 17618 times)
seriouscoin
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March 03, 2014, 01:20:06 AM
 #61

yes you do make really valid points there, but again who though that bitcoin could go to $1000 in one year when buying at $10 ....

It took $6.8 billion to get from $10 to $500.  It would take $63 billion to get to $5000/Bitcoin.  A lot of people are counting on Wall St. and institutional investors to make that happen, but $63 billion is A LOT of money, even for Wall St. How likely is it that investors will come up with $63 billion to put into a speculative currency?

Do you really believe it took $6.8 billion to get to $500? LOL. I find it hard to believe you believe this.

Why not? after all he sold all his coins .... after mtGox fiasco

Doesnt sound like hes smart to me. His math and "analysis" is comparable to a 5 yrs old....

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March 03, 2014, 01:31:07 AM
 #62

yes you do make really valid points there, but again who though that bitcoin could go to $1000 in one year when buying at $10 ....

It took $6.8 billion to get from $10 to $500.  It would take $63 billion to get to $5000/Bitcoin.  A lot of people are counting on Wall St. and institutional investors to make that happen, but $63 billion is A LOT of money, even for Wall St. How likely is it that investors will come up with $63 billion to put into a speculative currency?

Do you really believe it took $6.8 billion to get to $500? LOL. I find it hard to believe you believe this.

Why not? after all he sold all his coins .... after mtGox fiasco

Doesnt sound like hes smart to me. His math and "analysis" is comparable to a 5 yrs old....



just because someone's been registered here since 2011 doesn't mean they're any less likely to be an idiot

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March 03, 2014, 01:41:04 AM
 #63

It would take $63 billion to get to $5000/Bitcoin.  A lot of people are counting on Wall St. and institutional investors to make that happen, but $63 billion is A LOT of money, even for Wall St. How likely is it that investors will come up with $63 billion to put into a speculative currency?

You are so cute, and you don't even realize it.

Absolutely adorable. Like a kid or something.

Read this: http://en.wikipedia.org/wiki/List_of_public_corporations_by_market_capitalization

$63 billion is not a large amount of money.

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March 03, 2014, 02:41:33 AM
 #64

I'm having a hard time understanding the premise of this post.

In the subject you suggest that 300% ROI is not worth getting out of bed for.. and after 25,000% its understandable why you might think that.  But as others have said in this thread, 300% is a very nice return. 

This leads me to believe your are solely focused on high risk / high reward speculation, but the confusing part is you have been a big supporter of Bitcoin for 3 years, with a active blog, twitter feed and BCTalk account, you attended most the expos and conferences, you've started a couple of bitcoin businesses..

This makes me think that through most of your involvement you believed in Bitcoin.  Realizing your profit is certainly a wise choice, but I find it strange that someone so supportive of Bitcoin for so long would sell everything and can find no appeal in it anymore.. the fundamentals haven't changed.. Its still cheap, decentralized, secure, easy to use, cant be inflated.  Why dump it all?

Like you, I am also excited about other innovative cryptos like Ripple, OT and NXT etc, but I think the biggest most important asset to any of these crypto's is not the technology or people working on it, its the "mindshare" and effort of the general public to acknowledge and accept.  Bitcoin has a 4 year headstart on the competition here, another crypto would have to be significantly better to begin to erode some of that lead.

I can see from your tweets you've been more involved in Ripple, while I think Ripple is great and use it regularly I fear its complexity is its biggest barrier to adoption by the wider public.

To summise, not sure if:
  • Speculating
  • Wants confirmation selling 100% of beloved btc was the right choice
  • Promoting new fav Ripple

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March 03, 2014, 03:02:58 AM
 #65

Merchants adopting BTC as a 'protocol' as you put it, is the first step to Bitcoin becoming a money. When Bitcoin can be spent on most anything (even if the merchants then just sell Bitcoin afterward), then Bitcoin is a much easier sell to consumers.

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March 03, 2014, 03:16:27 AM
 #66

lol.

I was just thinking that I am a late adapter and stupid as fuck. I am prouding myself to see someone early adapted spreading fud as a 5 year old child which contains the dumbass opinions about bitcoin to buy in again from low.

It is not that hard to reach that 3000$ point and it doesn't even needs 2billions or so.

Maybe it is harder than past because market is shared and portioned with other exchanges and upping the price is a little difficult, it will need more coordination and care. However it still not as hard as being in need of higher than 1 billions.

I am pretty sure that you will get in this train again when you see us going to the moon at the end of 2014. Winklewoss brothers planing something for Q4.

Especially England plans to tax bitcoin. This means we are getting high. I will be more honoured to sell my bitcoins to you with %100 profit at that time. And honestly I don't care if a profit is %100 or %20000. Profit is profit. There is nothing to be regret about missing huge profits. No need to be greedy as fuck.

There always been oppurtunities, and there will always be. Maybe it will be ripple or maybe ethereum but be sure about this:

The firsts will always be the firsts. Bitcoin is a cult and must for cryptocurrency, and will always be a gate for other protocols. There is nowhere near support for other coins or protocols as bitcoin community has.

If these people don't sell their bitcoin instanly after mtgox announcements, this means that a fairly good trust has been created around bitcoin now. You need to go steadly to see new highs, you need to be prepared, you need to spread your roots to handle that growth.

This is what is happening right now. The weak roots dry. Strong roots grow.

selamlar olsun.
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March 03, 2014, 03:34:36 AM
 #67

No one is going out to buy Bitcoins so they can make purchases they could already make with PayPal.

I am.  Have done so many times.   Usually buy with existing coins, then replenish what I spent.  I don't think the stats from Overstock reflect a tiny few number of people making up their $1 million in Bitcoin sales so far.  That would be the result if it were just the early adopters with thousands of coins going on a shopping spree.

-B-

Bitcoin's true purpose defined in Satoshi's message on the Genesis Block:
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View it on the Blockchain | Genesis Block Newspaper Copies
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March 03, 2014, 03:54:26 AM
 #68

There is a concerted effort by ripple and its backers to criticize bitcoin and to try to make it look weak and vulnerable. Spreading FUD far and wide.

Is this a recent phenomenon or has this been ongoing?
So far I just see you trolling:
Hi, I'm a ripple troll and bitcoins are going to SELF DESTRUCT!

SELL NOW!

NOW!

That is all.

https://bitfinex.com <-- leveraged trading of BTCUSD, LTCUSD and LTCBTC (long and short) - 10% discount on fees for the first 30 days with this refcode: x5K9YtL3Zb
Mail me at Bitmessage: BM-BbiHiVv5qh858ULsyRDtpRrG9WjXN3xf
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March 03, 2014, 04:06:29 AM
 #69

Incredible.

Four pages of discussion on the future of Bitcoin and not a single one of you has made mention of infrastructure progress or worldwide adoption status. That blows me away. Allow me to say this once and for all, to all of you "day traders""

THE ONLY THING THAT MATTERS WHEN IT COMES TO THE FUTURE OF BITCOIN, IS THE INFRASTRUCTURE AND ADOPTION GOING ON AROUND THE WORLD.

Let that sink in.  Please.

If you aren't an expert on whats CURRENTLY happening with Bitcoin on a daily basis around the world, then you know *nothing* about Bitcoins future. It doesn't matter how good you think you are with graphs and charts and sweet trading jargon.  You know absolutely nothing.

It's always the guys with fewer than 100 posts saying how confident they are that the Gox thing is the end of Bitcoin.  You hopped on board when BTC was at $1,000 because you wanted to ride the highs and dips.  Make a quick buck.  You did very little learning about what Bitcoin is, and as a result you have zero confidence in its future, and no interest in the things which are true predicters of its long term success (adoption/propagation/infrastructure).  

Anyone who actually believes that Bitcoin is not going back up, has done zero research on Bitcoin's activity around the world right now. To me its just absolutely insane that there can be 4 pages of discussion on Bitcoin and not a single mention of this. The foundation to the current $550 price is because speculation is going down, and a substantial base is being built.  Why didn't Bitcoin die already?   How bad can the news get?   The whole world thinks Gox *is* Bitcoin and Gox is dead.  What lunatic believes that a $550 price after that news is not substantiated by anything?  

There is a whole world of Bitcoin adoption going on out there.  A whole world of hundreds of startups being created that provide financial services related to the protocol.  What are they all going to do?  Just drop bitcoin and throw it in the trash?   After years of planning and learning the system?  Experiencing its benefits and power?  You don't understand human psychology at all.  Anyone who looks only at the Gox situation, has blinders on.  And has absolutely no clue what Bitcoin is doing around the world right now.  And no understanding of Sociology, psychology of populations, or marketing.

Mark my words.  Bitcoin is going back up.  The fact that I even have to say that is astounding.  Its so obvious.

This has been my mantra from the start:   When I start to see the adoption levels decreasing, and infrastructure falling apart around the world, then I will begin to consider the downturn of Bitcoin.  As it stands, adoption levels are at an all time high, and infrastructure is as well.  How anyone can poo poo the Wall Street investments coming in the next month via SecondMarket is bewildering to me.  "ehhh.  might help.  im not convinced though".  LOL .... wow.

-B-

Bitcoin's true purpose defined in Satoshi's message on the Genesis Block:
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View it on the Blockchain | Genesis Block Newspaper Copies
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March 03, 2014, 04:39:13 AM
 #70

As for Ethereum, it lacks the elegance of bitcoin and nobody really even understands it.

I try to understand ethereum, but everytime I hear the words "beautiful foundation", it sounds too much marketing for me.

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March 03, 2014, 05:04:46 AM
 #71

Incredible.

Four pages of discussion on the future of Bitcoin and not a single one of you has made mention of infrastructure progress or worldwide adoption status. That blows me away. Allow me to say this once and for all, to all of you "day traders""

THE ONLY THING THAT MATTERS WHEN IT COMES TO THE FUTURE OF BITCOIN, IS THE INFRASTRUCTURE AND ADOPTION GOING ON AROUND THE WORLD.

Let that sink in.  Please.

If you aren't an expert on whats CURRENTLY happening with Bitcoin on a daily basis around the world, then you know *nothing* about Bitcoins future. It doesn't matter how good you think you are with graphs and charts and sweet trading jargon.  You know absolutely nothing.

It's always the guys with fewer than 100 posts saying how confident they are that the Gox thing is the end of Bitcoin.  You hopped on board when BTC was at $1,000 because you wanted to ride the highs and dips.  Make a quick buck.  You did very little learning about what Bitcoin is, and as a result you have zero confidence in its future, and no interest in the things which are true predicters of its long term success (adoption/propagation/infrastructure).  

Anyone who actually believes that Bitcoin is not going back up, has done zero research on Bitcoin's activity around the world right now. To me its just absolutely insane that there can be 4 pages of discussion on Bitcoin and not a single mention of this. The foundation to the current $550 price is because speculation is going down, and a substantial base is being built.  Why didn't Bitcoin die already?   How bad can the news get?   The whole world thinks Gox *is* Bitcoin and Gox is dead.  What lunatic believes that a $550 price after that news is not substantiated by anything?  

There is a whole world of Bitcoin adoption going on out there.  A whole world of hundreds of startups being created that provide financial services related to the protocol.  What are they all going to do?  Just drop bitcoin and throw it in the trash?   After years of planning and learning the system?  Experiencing its benefits and power?  You don't understand human psychology at all.  Anyone who looks only at the Gox situation, has blinders on.  And has absolutely no clue what Bitcoin is doing around the world right now.  And no understanding of Sociology, psychology of populations, or marketing.

Mark my words.  Bitcoin is going back up.  The fact that I even have to say that is astounding.  Its so obvious.

This has been my mantra from the start:   When I start to see the adoption levels decreasing, and infrastructure falling apart around the world, then I will begin to consider the downturn of Bitcoin.  As it stands, adoption levels are at an all time high, and infrastructure is as well.  How anyone can poo poo the Wall Street investments coming in the next month via SecondMarket is bewildering to me.  "ehhh.  might help.  im not convinced though".  LOL .... wow.

-B-

+1
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March 03, 2014, 05:08:17 AM
 #72

Good riddance. Don't let the door hit your ass on the way out.  Tongue

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March 03, 2014, 05:25:43 AM
 #73

Well, if it can go from zero to $1000+ off the back of a few hundred thousand enthusiasts, scammers and libertarian whack jobs then all bets are off if it gains traction in the wider world.

There are ever increasing rumblings of that being the case.

2014 may not set the world on fire in terms of returns, it is creating the building blocks for the infrastructure it requires to spread far and wide.

That's the spirit. I only read this far down the thread but these guys are crazy. Don't get me wrong OP, you are set for life from bitcoin and that I respect and admire tremendously. I wish you luck on your future endeavors but I think you missed the mark here.

This post clearly backs up what I was thinking. I know the returns we've seen has been outrageous and most probably wont be seen for a little while but big money has still yet to flow into bitcoin. There wont be a bitcoin 2.0 as bitcoin will change to make sure its stays at the head of the game. it will be a store of value that will only rise over the next 30 years. the protocol will be built upon and rely on the underlying bitcoins to function.

I too sold many coins over the last few years and made a very nice bank account for myself. I was never into finance before this, I now put money into stocks taken care of my retirement and am taking my future seriously.

I still have many btc, mostly offline on paper wallets and I don't plan on touching them for 10 years, if my play works out I plan on having more money then anyone in the bitcoin game has now from bitcoins which I estimate is around 100 million.

Good luck to you OP and +1 gentlemand

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March 03, 2014, 05:28:42 AM
 #74

Good riddance. Don't let the door hit your ass on the way out.  Tongue

 Grin

You crack me up.

You know he still holds BTC right? No way he sold every single one!
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March 03, 2014, 05:40:19 AM
 #75

RIPPLE tries to introduce the IOU concept from the very beginning, and this is a typical trick to scam customers by traditional financial institutions, so I never looked at it again

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March 03, 2014, 05:48:42 AM
 #76

yes you do make really valid points there, but again who though that bitcoin could go to $1000 in one year when buying at $10 ....

It took $6.8 billion to get from $10 to $500.  It would take $63 billion to get to $5000/Bitcoin.  A lot of people are counting on Wall St. and institutional investors to make that happen, but $63 billion is A LOT of money, even for Wall St. How likely is it that investors will come up with $63 billion to put into a speculative currency?
Actually, you are wrong.   It just takes $5,000 to get to 5,000 per coin, one print.  Less even if you just print 0.1 coin (I am exaggerating to make a point).   You are mistaking the entire float changing hands over the marginal shares that actually trade.   There is a huge difference.   pull out all the day trading volume and then divide by 2 and you can figure out how thin the volume actually is and you can figure out how little it would take to get a large number.

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March 03, 2014, 05:55:12 AM
 #77

yes you do make really valid points there, but again who though that bitcoin could go to $1000 in one year when buying at $10 ....

It took $6.8 billion to get from $10 to $500.  It would take $63 billion to get to $5000/Bitcoin.  A lot of people are counting on Wall St. and institutional investors to make that happen, but $63 billion is A LOT of money, even for Wall St. How likely is it that investors will come up with $63 billion to put into a speculative currency?

Well $63 billion isn't that big if for a large cap company.   It is entirely possible.   However, $63 billion is tiny compared to something like gold.    
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March 03, 2014, 06:45:42 AM
 #78

RIPPLE tries to introduce the IOU concept from the very beginning, and this is a typical trick to scam customers by traditional financial institutions, so I never looked at it again

+1 EXACTLY.

Idiots like OP never really understood bitcoin will be confused Ripple as a currency,... some even call it Bitcoin 2.0

Dumb as fck.
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March 03, 2014, 07:19:46 AM
 #79

I completely agree with you, also I will like to add, that is expensive to get into Bitcoin, to go out a purchase a single BTC is next to impossible.

And yes, Im aware of Coinbase, ect. But Lets I wanted to buy something in the next 20mins  or place a Bet on GoWest website, in the next 20mins, If im new, I wouldn't be able to do that.

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March 03, 2014, 08:41:22 AM
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I completely agree with you, also I will like to add, that is expensive to get into Bitcoin, to go out a purchase a single BTC is next to impossible.

And yes, Im aware of Coinbase, ect. But Lets I wanted to buy something in the next 20mins  or place a Bet on GoWest website, in the next 20mins, If im new, I wouldn't be able to do that.

You will in a couple of months. This is being developed by several parties at the moment. Patience, grasshopper.

And why do you need a whole bitcoin? Buy a fraction of one.

Do you only buy gold by the pound?

If you haven't heard about what is happening with GAME, check it out.  It's revolutionizing gaming. https://bitcointalk.org/index.php?topic=1266597.0
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