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Author Topic: Do you really believe that Bitcoin will hit 1,000,000  (Read 16913 times)
unpure
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July 09, 2014, 04:56:19 PM
 #101



Instead of the price of bitcoin, think of the value beneath that a bitcoin represents. Through an algorithm and one of bitcoins many up and coming add-on's a single satoshi could represent a mansion on the coast while another single satoshi represents a penny in your pocket.

The bitcoin network, all the contracts, all the titles and deeds, the representations will weave themselves into everyone's everyday lives and therefore, eventually all of the wealth of the world would at one time or another be represented by transactions in the blockchain.

The question is, do you have bitcoin?



There is no spoon bitcoin.
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July 09, 2014, 05:24:34 PM
 #102

A self taught armchair economist doubting people that have studied this subject all their life.  Hmm.   Who should is more credible ?😁



You don't know how I got my knowledge, nor my profession, nor the exact type of chair I prefer. I am certainly not interested in discussing things in the form of flinging names of professors around. If you guide your investments from what the best known and educated people around say, you would not have bitcoins yet.

Wait the world bank are professors? 

There's no reason to think GDP can't be measured.  Its been measured for a long time.  And last time I checked the World Bank is not neo-Keynesian, although some individuals may be

IMF policy is certainly NOT Keynsian.  They were the ones pushing for austerity to the eurozone.  Remember?

I'm not even talking about bitcoin here.  I'm the World Bank has more credibility than you when it comes to economics

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July 09, 2014, 07:09:55 PM
 #103

IMF policy is certainly NOT Keynsian.  They were the ones pushing for austerity to the eurozone.  Remember?

Calling what they were pushing for "austerity" is akin to calling the website Obamacare created a "market".

http://mises.org/daily/3229
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July 10, 2014, 12:26:20 AM
 #104

A self taught armchair economist doubting people that have studied this subject all their life.  Hmm.   Who should is more credible ?😁



You don't know how I got my knowledge, nor my profession, nor the exact type of chair I prefer. I am certainly not interested in discussing things in the form of flinging names of professors around. If you guide your investments from what the best known and educated people around say, you would not have bitcoins yet.

Wait the world bank are professors?  

There's no reason to think GDP can't be measured.  Its been measured for a long time.  And last time I checked the World Bank is not neo-Keynesian, although some individuals may be

IMF policy is certainly NOT Keynsian.  They were the ones pushing for austerity to the eurozone.  Remember?

I'm not even talking about bitcoin here.  I'm the World Bank has more credibility than you when it comes to economics

You have to think a bit deeper. There is a reason why the money and debt supply has to continually expand, and that is to keep the current elites in power. It is really not possible to shrink the feds balance sheet, other than symbolically. Just think what the voter would say to higher taxes and lower public spending at the same time. Some intellectuals have taken it upon themselves to support the current leaders, and they get rewarded for it through the revolving doors. The Fed, the IMF and the world bank, the other money issuing banks are playing the same game. It is a global Department of Truth.

The argument above is not enough to falsify the current paradigm, it is only an argument for the possibility of a deception so big that the casual observer can not reveal it. The grandness of it makes it easier to belive by the public.

The arguments against the current paradigm is not the rewards, but the absurdities presented. These are things like - lifting the debt ceiling is not expansion of debt, - wars, real wars, not the puffs we currently perform, is needed to grow the economy, - the debt is no problem because of growth, - giving money to the banks trickles down to every american, - public spending of a dollar creates more than one dollar wealth, - taxing is productive, - advances in technology will fix it, - value of money has to go down, - forcing spending, not saving, creates wealth, - the dollar is stable, - the dollar has value because of warships.

And the metrics, everything is proved by metrics, no logic and reason necessary. Previously debunked theories resurfaces again and again. Words are reconstructed to mean the opposite.

To understand, you have to go to the basics, what is the laws governing the economic individuals actions, how does money and credt work. History is interesting to put some meat on it. There are lots of contrarian voices, you have to listen and verify the reasoning behind the arguments.




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July 10, 2014, 02:08:54 AM
 #105

I don't wanna go off on a tangent.  But "conspiracy theory" is never an explanation for anything.  The simple reason for why monetary base expands because there is demand for it.  The capital market demands money so the money markets supply it.  No big secret about this

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July 10, 2014, 02:20:18 AM
 #106

When it gets mainstream, oh yes i believe on it, i'm anxiously waiting for the Winklevoss prediction of 70k by 2017, if that happens then

everything would be possible...
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July 10, 2014, 06:29:38 AM
 #107

Do you really believe that Bitcoin will hit 1,000,000

analyses never ends
Seriously doubt it...at least not within my lifetime!

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July 10, 2014, 07:16:21 AM
 #108

I've been studying every damn article about bitcoin for the past 9 months and focusing on a macroeconomic level, $6000-$10000 is definitely realistic by the end of this year. If nothing else, just think about the ridiculous amount of infrastructure that currently being built for it AROUND THE GLOBE... its happening whether anyone likes it or not. (unless something completely drastic happens which no one can predict including me...)

With that said, I'm in the process of putting together a project to help facilitate mass adoption of Bitcoin. Let's hope I have something to show the community soon.

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July 10, 2014, 07:36:37 AM
 #109

I've been studying every damn article about bitcoin for the past 9 months and focusing on a macroeconomic level, $6000-$10000 is definitely realistic by the end of this year. If nothing else, just think about the ridiculous amount of infrastructure that currently being built for it AROUND THE GLOBE... its happening whether anyone likes it or not. (unless something completely drastic happens which no one can predict including me...)

With that said, I'm in the process of putting together a project to help facilitate mass adoption of Bitcoin. Let's hope I have something to show the community soon.

Yep the infrastructure and usability is a big factor in Bitcoin
Then you have the Buffet's who say that those two are not connected but that's an older generation of thinking in the digital world technology has proven to be revolutionary in every industry, perhaps the value at times varies but it is nice to believe in the potential utility of a whole new payment system.
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July 10, 2014, 09:22:31 AM
 #110

I don't wanna go off on a tangent.  But "conspiracy theory" is never an explanation for anything.  The simple reason for why monetary base expands because there is demand for it.  The capital market demands money so the money markets supply it.  No big secret about this

Hey, you cannot do that. Other people are supposed to utter that word, and you are supposed to close your ears and eyes when you hear it.
Smiley

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July 10, 2014, 09:49:16 AM
 #111

Do you really believe that Bitcoin will hit 1,000,000

analyses never ends

If you really think this, well, I don't know how to put it but I think you are delusional.
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July 10, 2014, 10:08:02 AM
 #112

I believe it will after all bitcoin has been mined.

unpure
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July 10, 2014, 02:02:47 PM
 #113

I've been studying every damn article about bitcoin for the past 9 months and focusing on a macroeconomic level, $6000-$10000 is definitely realistic by the end of this year. If nothing else, just think about the ridiculous amount of infrastructure that currently being built for it AROUND THE GLOBE... its happening whether anyone likes it or not. (unless something completely drastic happens which no one can predict including me...)

With that said, I'm in the process of putting together a project to help facilitate mass adoption of Bitcoin. Let's hope I have something to show the community soon.

Yep the infrastructure and usability is a big factor in Bitcoin
Then you have the Buffet's who say that those two are not connected but that's an older generation of thinking in the digital world technology has proven to be revolutionary in every industry, perhaps the value at times varies but it is nice to believe in the potential utility of a whole new payment system.

Don't forget Buffet was right about dotcom. Whether he is right on bitcoin is yet to be seen.
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July 11, 2014, 02:36:44 PM
 #114

If I had to guess, I would say that 1 BTC will reach somewhere between $30,000 to $100,000 by 2017, and around the $300,000 mark by 2020.

It should be interesting to look back on this thread and see whether or not my prediction was correct. Cheesy

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July 11, 2014, 02:42:35 PM
 #115

If I had to guess, I would say that 1 BTC will reach somewhere between $30,000 to $100,000 by 2017, and around the $300,000 mark by 2020.

It should be interesting to look back on this thread and see whether or not my prediction was correct. Cheesy

Anyone can throw a prediction like this and suffer no consequence if they are wrong.
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July 12, 2014, 02:09:20 AM
 #116

I've been studying every damn article about bitcoin for the past 9 months and focusing on a macroeconomic level, $6000-$10000 is definitely realistic by the end of this year. If nothing else, just think about the ridiculous amount of infrastructure that currently being built for it AROUND THE GLOBE... its happening whether anyone likes it or not. (unless something completely drastic happens which no one can predict including me...)

With that said, I'm in the process of putting together a project to help facilitate mass adoption of Bitcoin. Let's hope I have something to show the community soon.

Yep the infrastructure and usability is a big factor in Bitcoin
Then you have the Buffet's who say that those two are not connected but that's an older generation of thinking in the digital world technology has proven to be revolutionary in every industry, perhaps the value at times varies but it is nice to believe in the potential utility of a whole new payment system.

Don't forget Buffet was right about dotcom. Whether he is right on bitcoin is yet to be seen.

Buffet is skeptical about technology companies because he does not understand how they work and does not understand their products. Likewise he does not understand bitcoin and is skeptical about it.

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July 12, 2014, 10:00:19 AM
 #117

I've been studying every damn article about bitcoin for the past 9 months and focusing on a macroeconomic level, $6000-$10000 is definitely realistic by the end of this year. If nothing else, just think about the ridiculous amount of infrastructure that currently being built for it AROUND THE GLOBE... its happening whether anyone likes it or not. (unless something completely drastic happens which no one can predict including me...)

With that said, I'm in the process of putting together a project to help facilitate mass adoption of Bitcoin. Let's hope I have something to show the community soon.

Yep the infrastructure and usability is a big factor in Bitcoin
Then you have the Buffet's who say that those two are not connected but that's an older generation of thinking in the digital world technology has proven to be revolutionary in every industry, perhaps the value at times varies but it is nice to believe in the potential utility of a whole new payment system.

Don't forget Buffet was right about dotcom. Whether he is right on bitcoin is yet to be seen.

Buffet is skeptical about technology companies because he does not understand how they work and does not understand their products. Likewise he does not understand bitcoin and is skeptical about it.

Buffet only care about the core asset and profitability of a company. Bitcoin has neither.
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August 02, 2014, 06:25:11 AM
 #118

I've been studying every damn article about bitcoin for the past 9 months and focusing on a macroeconomic level, $6000-$10000 is definitely realistic by the end of this year. If nothing else, just think about the ridiculous amount of infrastructure that currently being built for it AROUND THE GLOBE... its happening whether anyone likes it or not. (unless something completely drastic happens which no one can predict including me...)

With that said, I'm in the process of putting together a project to help facilitate mass adoption of Bitcoin. Let's hope I have something to show the community soon.

Yep the infrastructure and usability is a big factor in Bitcoin
Then you have the Buffet's who say that those two are not connected but that's an older generation of thinking in the digital world technology has proven to be revolutionary in every industry, perhaps the value at times varies but it is nice to believe in the potential utility of a whole new payment system.

Don't forget Buffet was right about dotcom. Whether he is right on bitcoin is yet to be seen.


He might have been right about dotcom, but he wasn't right about the internet. dotcom bubble burst, correct. But, the internet never stopped after that. Actually it progressed further and further and turned into the beast it is today.



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August 02, 2014, 07:56:18 AM
 #119

Do you really believe that Bitcoin will hit 1,000,000

analyses never ends

Holding 1 bitcoin just in case it happen.
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August 02, 2014, 02:04:42 PM
 #120

no,i believe it won't
it is impossible
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