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Author Topic: "Millionaire" is a fiat-based term  (Read 3522 times)
Raystonn (OP)
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June 05, 2014, 07:26:09 PM
 #1

The term millionaire is rooted in fiat.  Should BTC replace fiat, 10 coins should be enough to classify as wealthy.  That number can be argued.  But we need a new term for someone with enough BTC that they are wealthy.
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June 05, 2014, 07:28:48 PM
 #2

The term millionaire is rooted in fiat.  Should BTC replace fiat, 10 coins should be enough to classify as wealthy.  That number can be argued.  But we need a new term for someone with enough BTC that they are wealthy.


I think it's a bit premature for that, in terms of purchasing power. When BTC has large enough purchasing power to actually compare to a major currency, we can talk. But the economy is still tiny for now.

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June 05, 2014, 07:33:34 PM
 #3

Cryptoaire...? .. you must own at least 1 Bitcoiner or more to be a Cryptoaire.
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June 05, 2014, 07:33:39 PM
 #4

The delusion is strong in this one.


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June 05, 2014, 07:47:40 PM
 #5

What is delusional is thinking that fiat is gonna be here for over 20 years

That is very much delusional.. but I guess your teachers didn't teach you that in school huh?

Who is to say that bitcoin will be the mainstream crypto of the future? I'm not convinced that it will be the one.


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June 05, 2014, 07:50:27 PM
 #6

A "bitcoinaire" is good enough since 1 BTC will be more than 1 millions $ in parity purchasing power  Smiley
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June 05, 2014, 08:00:53 PM
 #7

To be a part of the crypto community in some form makes you rich in appreciation for an alternative to fiat.

I agree with what you are saying though in that how do you measure wealth in bitcoins. It all depends what a single bitcoin can entitle you to buy right now - which isn't a lot.

Sign up to Revolut and do the Crypto Quiz to earn $15/£14 in DOT
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June 05, 2014, 08:15:24 PM
 #8

Millionaire means nothing anymore. I have several million... pesos. Smiley
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June 05, 2014, 08:38:12 PM
 #9

This might be premature as others point out above but these conversations are fun. How about hodlers? 

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June 05, 2014, 08:41:08 PM
Last edit: June 05, 2014, 08:53:38 PM by Dalmar
 #10

Millionaire means nothing anymore. I have several million... pesos. Smiley

In the English language it usually refers to having a million dollars, pounds, or euros. It usually does not mean having a million in currencies with significantly deviant unit values.


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June 05, 2014, 08:52:17 PM
 #11

If necessary, people would just re-invent the concept denominated in millis or micros.
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June 05, 2014, 09:17:10 PM
 #12

It's kind of weird that we're stuck with millionaire, today 1 Million dollars isn't really all that much.

To me it would be a lot but I'm smart with my finances and I don't buy useless fluff. (Not all the time at least).

1 Million dollars is like 67 years of minimum wage (which is a shitty definition of a rich person)

Or maybe 20 years of a fairer minimum wage (still not the definition of rich).
 


Syscoin has the best of Bitcoin and Ethereum in one place, it's merge mined with Bitcoin so it is plugged into Bitcoin's ecosystem and takes full advantage of it's POW while rewarding Bitcoin miners with Syscoin
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June 05, 2014, 09:24:54 PM
 #13

It's kind of weird that we're stuck with millionaire, today 1 Million dollars isn't really all that much.

To me it would be a lot but I'm smart with my finances and I don't buy useless fluff. (Not all the time at least).

1 Million dollars is like 67 years of minimum wage (which is a shitty definition of a rich person)

Or maybe 20 years of a fairer minimum wage (still not the definition of rich).
 



Now if you own a house and a paid off car you are above average. It is sad the way our expectations for life have been so eroded.

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June 05, 2014, 09:37:34 PM
 #14

+1 for bitcoinaire
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June 05, 2014, 09:43:28 PM
 #15

It's kind of weird that we're stuck with millionaire, today 1 Million dollars isn't really all that much.

To me it would be a lot but I'm smart with my finances and I don't buy useless fluff. (Not all the time at least).

1 Million dollars is like 67 years of minimum wage (which is a shitty definition of a rich person)

Or maybe 20 years of a fairer minimum wage (still not the definition of rich).
 



Now if you own a house and a paid off car you are above average. It is sad the way our expectations for life have been so eroded.

I don't own a car or house.

I could own a car if I wanted to but it seems like a waste of $$$ at this point.
I'll get my CDL and become a truck driver for 2-3 years and then I'll become a programmer.

+1 for bitcoinaire

Bitcoinaire sounds nice!

Syscoin has the best of Bitcoin and Ethereum in one place, it's merge mined with Bitcoin so it is plugged into Bitcoin's ecosystem and takes full advantage of it's POW while rewarding Bitcoin miners with Syscoin
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June 05, 2014, 09:55:37 PM
 #16

What about a 10+

If you are a 1+ you have over a coin and if btc goes to 100k being a 1+ will make you rich.

So a 10+ would be todays millionaire with btc over 100k.


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June 05, 2014, 10:05:36 PM
 #17

What about a 10+

If you are a 1+ you have over a coin and if btc goes to 100k being a 1+ will make you rich.

So a 10+ would be todays millionaire with btc over 100k.

The new world order won't allow a bunch of libertarian geeks to become that wealthy.

They will roll out their own version sooner or later that will actually become mainstream and push bitcoin back into irrelevance.


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Marcopolo123
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June 05, 2014, 10:12:13 PM
 #18


What about a 10+

If you are a 1+ you have over a coin and if btc goes to 100k being a 1+ will make you rich.

So a 10+ would be todays millionaire with btc over 100k.

The new world order won't allow a bunch of libertarian geeks to become that wealthy.

They will roll out their own version sooner or later that will actually become mainstream and push bitcoin back into irrelevance.


that thought makes me depressive...  Embarrassed
Ron~Popeil
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June 05, 2014, 10:20:49 PM
 #19

What about a 10+

If you are a 1+ you have over a coin and if btc goes to 100k being a 1+ will make you rich.

So a 10+ would be todays millionaire with btc over 100k.

The new world order won't allow a bunch of libertarian geeks to become that wealthy.

They will roll out their own version sooner or later that will actually become mainstream and push bitcoin back into irrelevance.

And the geek shall inherit the earth.

Cancan
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June 05, 2014, 10:26:50 PM
 #20

A "bitcoinaire" is good enough since 1 BTC will be more than 1 millions $ in parity purchasing power  Smiley

Bitcoinaire sounds really awesome!
But, getting back to OP, in some countries, depending on the buying power of it's currency, you need to be a 'billionaire' in order to be wealthy. It's all relative to what you can buy with a certain amount of monetary units.
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