This forum is full of future millionaires

[ArticMine]

anyone holding over 10 bitcoin today will probably have 1 million USD (in today's purchasing power) in 10-20 years.
most of the fiat pundits who mock bitcoin today will be eating their hat when the USD finally implodes.
be glad you are lucky enough to be here in this moment in time when bitcoin is first invented, it will be quite a story to tell...

I suspect 10 BTC worth 1,000,000 USD (in 2014 purchasing power) will happen way sooner than 10-20 years. As for the USD imploding I doubt it, more like USD keeping 95% of today's value or more. As for an implosion, gold is the far more likely candidate in a brutal bear market. The fiat pundits will just sit by and watch a massive transfer of Austrian / Libertarian wealth from gold to Bitcoin.

Really...10 BTC to make anyone a millionaire sooner then 10 years?  Not doubting it will happen but how soon do you think?

USD has about 2% a year inflation according to the US Federal Reserve. It is very possible for 1 BTC to be worth 100,000 USD before the USD's purchasing power drops below 95% of its 2014 levels.

[Parazyd]

What about GBP and EUR?

[MahaRamana]

anyone holding over 10 bitcoin today will probably have 1 million USD (in today's purchasing power) in 10-20 years.
most of the fiat pundits who mock bitcoin today will be eating their hat when the USD finally implodes.
be glad you are lucky enough to be here in this moment in time when bitcoin is first invented, it will be quite a story to tell...

I suspect 10 BTC worth 1,000,000 USD (in 2014 purchasing power) will happen way sooner than 10-20 years. As for the USD imploding I doubt it, more like USD keeping 95% of today's value or more. As for an implosion, gold is the far more likely candidate in a brutal bear market. The fiat pundits will just sit by and watch a massive transfer of Austrian / Libertarian wealth from gold to Bitcoin.

Really...10 BTC to make anyone a millionaire sooner then 10 years?  Not doubting it will happen but how soon do you think?

USD has about 2% a year inflation according to the US Federal Reserve. It is very possible for 1 BTC to be worth 100,000 USD before the USD's purchasing power drops below 95% of its 2014 levels.

2% is the official inflation rate. The real one is about 10% if we use the methods of measuring inflation in the past.
Don't be fooled by "official" stats. Inflation is running at 10% and will accelerate from here.
http://www.shadowstats.com/alternate_data/inflation-charts
http://www.cnbc.com/id/42551209

[bryant.coleman]

What about GBP and EUR?

GBP and EUR are also going down the drain.

[oureptsC]

We will always compare BTC to USD, EUR , GPB or other currencies just like we compare other currencies with each other  like EURO WITH USD or EURO with GPB, and If you mean we must use BTC as a currency to buy things I agree, that would make BTC way to market much more easier but I don't think there Is a problem converting BTC to USD , It will just take time for BTC to infilate.

[oureptsC]

We will always compare BTC to USD, EUR , GPB or other currencies just like we compare other currencies with each other  like EURO WITH USD or EURO with GPB, and If you mean we must use BTC as a currency to buy things I agree, that would make BTC way to market much more easier but I don't think there Is a problem converting BTC to USD , It will just take time for BTC to infilate.

EDIT: doubled post by accident because of an ERROR.

[Parazyd]

Conclusion: I should buy a country and make Bitcoin its official currency.

[bryant.coleman]

Conclusion: I should buy a country and make Bitcoin its official currency.

You cannot buy or invade another country. This is the 21st century and we have organizations such as the United Nations to prevent such incidents. The only option for you is to declare independence for the territory where you live, and secede. 

[NotAtOld]

But the problem is noone is looking into future in 10-20 years and noone will holding their bitcoins just to exchange it in 2030, so the quantity of future millionaires here is not so huge.

[Cryptopher]

Conclusion: I should buy a country and make Bitcoin its official currency.

You cannot buy or invade another country. This is the 21st century and we have organizations such as the United Nations to prevent such incidents. The only option for you is to declare independence for the territory where you live, and secede. 

The UN have a fantastic track record for preventing invasions  

Meh, I won't be one of those future millionaires, not with my strategy

[oureptsC]

Conclusion: I should buy a country and make Bitcoin its official currency.

You cannot buy or invade another country. This is the 21st century and we have organizations such as the United Nations to prevent such incidents. The only option for you is to declare independence for the territory where you live, and secede.  

The UN have a fantastic track record for preventing invasions  

Meh, I won't be one of those future millionaires, not with my strategy

Maybe It is possible to buy  a very small Island like Comoros , Samoa or other Island but they are so small. But you  could make bitcoin as official currency there but I don't know If It would be possible to buy It even If you offer a decent amount of money for It. But the idea to own an Island with a official currency called bitcoins sounds awesome would like to visit It

[bananaControl]

Conclusion: I should buy a country and make Bitcoin its official currency.

You cannot buy or invade another country. This is the 21st century and we have organizations such as the United Nations to prevent such incidents. The only option for you is to declare independence for the territory where you live, and secede.  

The UN have a fantastic track record for preventing invasions  

Meh, I won't be one of those future millionaires, not with my strategy

Maybe It is possible to buy  a very small Island like Comoros , Samoa or other Island but they are so small. But you  could make bitcoin as official currency there but I don't know If It would be possible to buy It even If you offer a decent amount of money for It. But the idea to own an Island with a official currency called bitcoins sounds awesome would like to visit It

Just buying an island or buying and island and declaring it an independent country are two very different things. No country would accept that.

IMHO the way to do it is to build something like Sealand, only much bigger of course.

[zimmah]

What about GBP and EUR?

GBP and EUR are also going down the drain.

It's funny how the euro was already inflated to 80% of its value by the time it was in active use. Since it only officially released on 2002

Also, look how stable all these currencies are compared to each other. YES OF COURSE they are stable relative to each other, they're all in free fall!

[zimmah]

Conclusion: I should buy a country and make Bitcoin its official currency.

You cannot buy or invade another country. This is the 21st century and we have organizations such as the United Nations to prevent such incidents. The only option for you is to declare independence for the territory where you live, and secede.  

The UN have a fantastic track record for preventing invasions  

Meh, I won't be one of those future millionaires, not with my strategy

Maybe It is possible to buy  a very small Island like Comoros , Samoa or other Island but they are so small. But you  could make bitcoin as official currency there but I don't know If It would be possible to buy It even If you offer a decent amount of money for It. But the idea to own an Island with a official currency called bitcoins sounds awesome would like to visit It

Just buying an island or buying and island and declaring it an independent country are two very different things. No country would accept that.

IMHO the way to do it is to build something like Sealand, only much bigger of course.

You would either need a very big army or have to know about some old country laws you can exploit to claim some unclaimed land and declare it a sovereign nation. And then wait until you're accepted by the other countries.

[bananaControl]

You would either need a very big army or have to know about some old country laws you can exploit to claim some unclaimed land and declare it a sovereign nation. And then wait until you're accepted by the other countries.

And there lies your problem. Why should they accept you? Just look at what's happening in Libya and Ukraine, it isn't easy to convince other nations of the validity of your claims.

But if you literally build a nation from scratch in international waters, then you are not stepping on anyones toes, thus making it easier to be accepted. My own personal utopian dream is that this is Satoshi's grand plan when one bitcoin is valued at one million USD (at 2014 USD value).

[bryant.coleman]

Just buying an island or buying and island and declaring it an independent country are two very different things. No country would accept that.
IMHO the way to do it is to build something like Sealand, only much bigger of course.

That is the best way of doing it, IMO. Invading another nation is not a viable idea nowadays, as most of the world nations either have powerful armies, or are allied to nations which are having powerful armies.

[DeboraMeeks]

Posts like these make me feel wonderful!

And happy to be part of the next big thing, hopefully HAHA

[Parazyd]

Posts like these make me feel wonderful!

And happy to be part of the next big thing, hopefully HAHA

One thing I regret is selling 300+ BTC way ahead of time...

[zimmah]

It's a nice idea, but really I don't believe we'll reach $100,00 USD a coin anytime soon. I doubt it'd even be in my lifetime. It would take massive adoption by nearly everyone in most major economies for us to have the price spike to that point - and realistically I doubt that will be the case until we can convince laypeople to use Bitcoin (considering that most don't understand it).

Agreed, it's a nice idea!

So $100,000/BTC by 2024?

It is actually possible, there will be some Bitcoiners on here that will hold for 10 years  

Like to think I'm a fairly logical person, have to concede that valuation is not outrageous

my prediction: (remember where you heard it first)

Code:

Aug 2014 - $5 000
Dec 2014 - $2 500
Apr 2015 - $45 000
Jun 2015 - $10 000 (and probably mass panic, but this will be a 'normal' correction)
Dec 2015 - $300 000
May 2016 - $100 000
Aug 2016 - $1 000 000+

Predictions this far in the future are unreliable, but i still think i'll be pretty close.

[Parazyd]

$5k in August?