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Author Topic: $10 million toward making Bitcoin successful  (Read 6965 times)
Phinnaeus Gage
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November 02, 2011, 01:24:25 AM
 #21

I would probably put a huge bid wall up at $5/BTC and as people buy, sell at $5.50 for at least a year to give some price stability in the early stage.

With an estimated market cap of $44M (8M BTC X $5.50), 1M users would own on average $44 worth of Bitcoin.

And getting those 1 Million users would not be that difficult, if:

100 current users got one new user within the next week, then:                    ~ Only need to get 13 new users total.
200 users (first 100 and next 100) did the same the following week, then:       ~ Only need to get 12 new users total.
400                                                                                                     ~ Only need to get 11 new users total.    
800                                                                                                     ~ Only need to get 10 new users total.
1,600                                                                                                  ~ Only need to get 9 new users total.
3,200                                                                                                  ~ Only need to get 8 new users total.
6,400                                                                                                  ~ Only need to get 7 new users total.
12,800                                                                                                 ~ Only need to get 6 new users total.
25,600                                                                                                 ~ Only need to get 5 new users total.
51,200                                                                                                 ~ Only need to get 4 new users total.
102,400                                                                                               ~ Only need to get 3 new users total.
204,800                                                                                               ~ Only need to get 2 new users total.
409,600                                                                                               ~ Only need to get 1 new users total.
819,200                                                                        end game!


But, it won't happen if the average maximum is only $44 USD in your pocket.

But, would the first 100 do it for at least $1,000 profit? As well as the same profit for the second group? Third? And mostly likely the last group on my list above?

Now, I'm not taking Ponzi, or pyramid, or MLM here.

Want to hear more? Send me 10 BTC and... Only kidding! In fact, I don't want anything. This would cost nothing to do (as far as paying for a service or product is concerned). Let me know if your interested, and I'll outline how. Of course there's still the rub: ease of transfering BTC and merchants--chicken/egg dilemma.



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November 02, 2011, 05:07:25 AM
 #22

Finance ASIC development, to be sold with little profit.

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viboracecata
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November 02, 2011, 07:28:46 AM
 #23

Spend all the fiat money to buy bitcoins, and then delivery all the bitcoins freely and fairly to other people

payb.tc
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November 02, 2011, 09:04:41 AM
 #24

Spend all the fiat money to buy bitcoins, and then delivery all the bitcoins freely and fairly to other people

and then watch them gradually end up back in the same hands, exactly the same way it happens with fiat.
Elwar
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November 02, 2011, 11:01:25 AM
 #25

Buy a hooker, an eightball of coke and a bottle of whiskey

This goes without saying. I was referring to the day after winning the lottery...

 Grin

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Let's talk governance, lipstick, and pigs.


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November 02, 2011, 11:32:56 AM
 #26

Spend all the fiat money to buy bitcoins, and then delivery all the bitcoins freely and fairly to other people

and then watch them gradually end up back in the same hands, exactly the same way it happens with fiat.


They won't end up in the same hands because bitcoins can't be printed on their demand. Bitcoins are finite.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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November 02, 2011, 11:42:50 AM
 #27

Spend all the fiat money to buy bitcoins, and then delivery all the bitcoins freely and fairly to other people

and then watch them gradually end up back in the same hands, exactly the same way it happens with fiat.


They won't end up in the same hands because bitcoins can't be printed on their demand. Bitcoins are finite.

yeah, but spenders will spend and entrepreneurs and risk takers will end up with 99% of the wealth.

redistribution is only ever temporary.
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Let's talk governance, lipstick, and pigs.


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November 02, 2011, 11:54:38 AM
 #28

Spend all the fiat money to buy bitcoins, and then delivery all the bitcoins freely and fairly to other people

and then watch them gradually end up back in the same hands, exactly the same way it happens with fiat.


They won't end up in the same hands because bitcoins can't be printed on their demand. Bitcoins are finite.

yeah, but spenders will spend and entrepreneurs and risk takers will end up with 99% of the wealth.

redistribution is only ever temporary.

You think entrepreneurs have 99% of the wealth? Try visiting any of the thousands of downtown area in the USA that has a Walmart and other big block stores. You'll see a lot of empty store buildings. But I'm not even talking about that. Banks don't even loan money to small business anymore. Big banks make money through selling arcane financial vehicles.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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November 02, 2011, 01:19:30 PM
 #29

Let us say that you won the lottery and you want Bitcoin to succeed in the long term. You want to take some of your earnings, $10 million, and use it toward making Bitcoin a fairly popular and useful currency of choice.

What would you do?

Buy a Bank.  A real functioning commercial bank with all of the licenses in good standing.

At the rate of what's going on in the economy right now you might be able to pick one up on the open market for 50 cents....    weird scary shit coming out of Europe.


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November 02, 2011, 04:30:24 PM
 #30

Let us say that you won the lottery and you want Bitcoin to succeed in the long term. You want to take some of your earnings, $10 million, and use it toward making Bitcoin a fairly popular and useful currency of choice.

What would you do?

I would invest half of it in low risk mutual funds and then take the other half over to my friend Asadulah who works in securities...

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November 02, 2011, 04:59:24 PM
 #31

Buy a Bank.  A real functioning commercial bank with all of the licenses in good standing.

there's bound to be hostile takeover options available with the price of some of the banks share.

In addition to that offer the 10 thousand customers a generous positive balance.

I remember a guy from the local branch of a major bank coming to my PRIMARY school when I was about 10 years old and gave me an account book with a balance of £2 . It wasn't much but that worked!
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November 02, 2011, 09:55:12 PM
 #32

I remember a guy from the local branch of a major bank coming to my PRIMARY school when I was about 10 years old and gave me an account book with a balance of £2 . It wasn't much but that worked!

That is like, the coolest fucking thing I have ever heard. I had a hilarious children's savings account at my parents' credit union when I was little. It was the 'Moola Moola' account, and I got a prize any time I made a deposit, and if I put in $5, then I got to choose from the better prizes.

Unfortunately, it didn't stick. I had more money in my bank account when I was 10 than I do now...sad really.

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byronbb
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November 03, 2011, 03:36:14 AM
 #33

Start an offshore payment processor company that accepts bitcoins on behalf of US gamblers wanting to deposit into an array of sportsbooks and pokersites they wish to play at.

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November 04, 2011, 11:02:05 AM
 #34

Let us say that you won the lottery and you want Bitcoin to succeed in the long term. You want to take some of your earnings, $10 million, and use it toward making Bitcoin a fairly popular and useful currency of choice.

What would you do?
I would spend the money convincing walmart to accept Bitcoins in all of their stores world wide.

This, but Amazon.  The fact that they are already online and likely to have an ever so slightly more tech-savvy clientbase means the currently immature state of the bitcoin infrastructure is less of an impediment.

Sadly I think you'll need more than $10m to do this though. 

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November 04, 2011, 08:06:47 PM
 #35

Start an offshore payment processor company that accepts bitcoins on behalf of US gamblers wanting to deposit into an array of sportsbooks and pokersites they wish to play at.

Bingo.  This would be a huge revenue stream.  Online poker is a roughly a $50B industry that means about $200B a year in cashflows.
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February 02, 2012, 06:22:46 PM
 #36

I'd donate 10 million to Ron Paul and ask him to revive the competing currencies bill.


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February 02, 2012, 06:48:59 PM
 #37

Make a service that makes it very easy for brick and mortar or anyone?
To earn money for selling Bitcoins.
For example they can sell coins at 1% more expensive than the current exchange rate.

Than they can accept Bitcoins as a payment method for which there is no creditcard fees, earning or saving even more money.

This means that they have strong incentives to use Bitcoins for three reasons:

1. They earn money selling them.
2. Since they are one of the few places you can use them, they get the customers back in a higher extent.
3. They can get free marketing by being one of the first places to use Bitcoins.






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February 02, 2012, 06:59:09 PM
 #38

I'd donate 10 million to Ron Paul and ask him to revive the competing currencies bill.
If he's half as good as you are at reviving dead threads, it just might work.  Wink

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February 02, 2012, 07:02:14 PM
 #39

I would probably put a huge bid wall up at $5/BTC and as people buy, sell at $5.50 for at least a year to give some price stability in the early stage.

Smiley you can't... because I will buy out your reserves of BTC very fast with my $10M.. so for price to hold there you will need more BTC... guess where you go than? Yes, you will go to me... and I will sell it for 10 USD and we will continue... Smiley

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February 02, 2012, 07:28:09 PM
 #40

Attempt to control the BTC price to force it to stay right around $7. Buy all BTC up to $7, then set up a massive bid order @ $7, and a massive ask order (with all remaining coins) @ $7.00001. Hold out for as long as possible, which should be a very long time unless the coins run out which were bought between current price & $7. At that point, were I really committed to blowing through the $10m, I'd start buying Bitcoin above $7 and re-listing it @ $7.

Don't mix your coins someone said isn't legal
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