We already passed the tipping point of BTC

[LiteCoinGuy]

hey folks,

in the last days i had the feeling that we already passed the tipping point of bitcoin. maybe 2014 is THE breaketrough year for bitcoin in the history books. why? because a lot of things come together in my view that we would never think of in early 2013 (thats just 1,5 years ago!) :

- hunderts of millions of VC Money
- Regulation (most more pro than contra)
- Upcoming ETFs
- Adoption from merchants and consumers (DELL, Wikipedia, Expedia etc)
- first BTC stock is launching maybe in 2014 (mining)
- conferences all over the globe
- mainstream coverage (and alot more pro than in 2013)

when i started with bitcoin in Feb. 2013 none of these things existed.

i thought the chance that bitcoin will fail would be 70-80%. now i think, its 10-20%. even if we have bugs in the code, we will survive. even if companies will fail, we will survive. its the honey badger of money  

and we dont have to push Amazon to adopt BTC anymore. it will happen anyway.


iam more optimistic than ever (but maybe iam wrong   ! )

-LiteCoinGuy-

[Skinnkavaj]

Long time live BTC. And LTC 

[Neodamus]

maybe 2014 is THE braketrough year for bitcoin

When you say 'brakethrough', you mean the year that it has the brakes on through the whole year, right?

[domainbrokers]

Bitcoin is the 3rd revolution I'm living through

1st PC's which are now tablets and smartphones to many
2nd The Net the age of instant free info
3rd Techno currency

I honestly believe most here will be telling our grand kids about a thing we used to have called money that evil governments printed at will to fuel stupid wars

They say gramps how did you become so rich

You say because I SAW THE REVOLUTION COMING and put lots of worthless government notes into tech notes you call BITCOIN

After you've been front lines in a couple of revolutions you start to see them coming

BITCOIN is like the net and the PC the next revolution

Bitcoin had 4 tenfold growth bubbles so far it has 4 more

.05 cents start
.50 cents first tenfold bubble
5.00  next tenfold bubble
50.00 next tenfold bubble
500.00 our current bubble

next bubbles

5k bitcoin
50K bitcoin
500K bitcoin

for 5K to happen you need ONLY.1% acceptance of world pop for btc, we are at .01% now

50K is just 1% of gwp by btc produces 50K bubble

500K btc is just 10% gwp by btc

can btc hit 10% growth of population

credit cards did and they reject 90% of the world

btc rejects no one

so btc will go in trade where visa/mc refuses to go

so way over 10% of gwp can eventually be on btc

10% of gwp is 8.5 trillion

divide 12M coints into 8.5 trillion

500K btc baby

EASY

[LiteCoinGuy]

maybe 2014 is THE braketrough year for bitcoin

When you say 'brakethrough', you mean the year that it has the brakes on through the whole year, right?

haha, okay i edited that  

[Neodamus]

maybe 2014 is THE braketrough year for bitcoin

When you say 'brakethrough', you mean the year that it has the brakes on through the whole year, right?

haha, okay i edited that  

haha, good man

[BitcoinMillionaire]

We've seen nothing yet, man! People still don't know what I'm talking about when I mention Bitcoin and tell them that I am a BitcoinMillionaire. They think it is some kind of Habbo Dollars or something, haha. But I rather not tell them how much they are really worth, or they'd be just begging for money. I don't want that. People don't need to know, I'm a stinkin richt BitcoinMillionaire! Don't wanna brag about that.

[TimS]

...THE breaketrough year...

Since the last comment on this just made it worse: It's breakthrough.

[jjc326]

Funny on the misspellings.

Yes it does seem like the tipping point is being reached.  More and more businesses are accepting it.  The only I'm worried about is that if it gets bigger and still has these issues like the 51% possibility then someone will come around and spend millions to destroy it.

[lihuajkl]

"for 5K to happen you need ONLY.1% acceptance of world pop for btc, we are at .01% now"
Most of the people still don't accept it. I told my friend about btc. He laughed at btc, saying "BTC is virtual and not reliable. Investing true money but reward with virtual things".Never mind! You believe what you believe.

[Beliathon]

Funny on the misspellings.

Yes it does seem like the tipping point is being reached.  More and more businesses are accepting it.  The only I'm worried about is that if it gets bigger and still has these issues like the 51% possibility then someone will come around and spend millions to destroy it.

Trying to destroy Bitcoin by buying bitcoin is like trying to put out a fire by pouring gasoline on it.

[Neodamus]

...THE breaketrough year...

Since the last comment on this just made it worse: It's breakthrough.

haha I didn't actually look at how he corrected it, that's good stuff

[leex1528]

Anything could happen...who knows?  I doubt we will ever see it above 10k but again, who knows.  I of course would absolutely love it if it was above 10k:)

[DjPxH]

I guess there are very good times ahead of us still. If you're just in for the pure price, you have to remember that institutional money will continue to flow. And once the ETF of the Winklevii has started, many traditional investors will have just the right vehicle to invest in Bitcoin.

[franky1]

everyone has their own tipping point.

my tipping point of when i realised bitcoin is going to last a long time and is growing in adoption was in 2012. those people from 2009 probably had their tipping point to realise bitcoin will be huge was probably 2011

and as the OP says his tipping point of revelation was a year after he got into it.

there are more tipping points every day. there is no single tipping point. just an increase of tipping points. and the more we see of these 'revelations' that people have that they finally see that bitcoin is going to grow, the faster it will grow.

[Possum577]

We've seen nothing yet, man! People still don't know what I'm talking about when I mention Bitcoin and tell them that I am a BitcoinMillionaire. They think it is some kind of Habbo Dollars or something, haha. But I rather not tell them how much they are really worth, or they'd be just begging for money. I don't want that. People don't need to know, I'm a stinkin richt BitcoinMillionaire! Don't wanna brag about that.

Smart move. Stealth wealth is the way to be, especially as people protest about minimum wage workers making minimum wages. If you start bragging about that stuff you'll just make yourself a target.

Congrats on  your success!

I wish I could say the same thing, but I've gotten involved much later than a lot of you (and yet much sooner than many others...)

[DjPxH]

everyone has their own tipping point.

my tipping point of when i realised bitcoin is going to last a long time and is growing in adoption was in 2012. those people from 2009 probably had their tipping point to realise bitcoin will be huge was probably 2011

and as the OP says his tipping point of revelation was a year after he got into it.

there are more tipping points every day. there is no single tipping point. just an increase of tipping points. and the more we see of these 'revelations' that people have that they finally see that bitcoin is going to grow, the faster it will grow.

Yeah, it really seems you gotta be in the game for at least 1 or 2 bubbles and see how the ecosystem changed. Until then you think all growth is over and a bubble just can't ever occur anymore. But when it happens, you see that you've actually seen nothing yet. That's when you learn not to worry and panic during a crash.

[QuantumQrack]

hey folks,

in the last days i had the feeling that we already passed the tipping point of bitcoin. maybe 2014 is THE breaketrough year for bitcoin in the history books. why? because a lot of things come together in my view that we would never think of in early 2013 (thats just 1,5 years ago!) :

- hunderts of millions of VC Money
- Regulation (most more pro than contra)
- Upcoming ETFs
- Adoption from merchants and consumers (DELL, Wikipedia, Expedia etc)
- first BTC stock is launching maybe in 2014 (mining)
- conferences all over the globe
- mainstream coverage (and alot more pro than in 2013)

when i started with bitcoin in Feb. 2013 none of these things existed.

i thought the chance that bitcoin will fail would be 70-80%. now i think, its 10-20%. even if we have bugs in the code, we will survive. even if companies will fail, we will survive. its the honey badger of money  

and we dont have to push Amazon to adopt BTC anymore. it will happen anyway.


iam more optimistic than ever (but maybe iam wrong   ! )

-LiteCoinGuy-

In my opinion this VC money isn't going to jack shit for bitcoin.  The ONLY thing that is worth anything is people buying bitcoin.  That's it.  If that doesn't happen, all the great bitcoin infrastructure in the world won't help.

[qwerty555]

I guess there are very good times ahead of us still. If you're just in for the pure price, you have to remember that institutional money will continue to flow. And once the ETF of the Winklevii has started, many traditional investors will have just the right vehicle to invest in Bitcoin.

+1

Yes we are definitely past the tipping point  

If billionaires have invested 10's of millions of $'s this year and they use the best available people to evaluate, model and project revenue and profit before they invest  it is most unlikely that bitcoin will fold up in the near future.. bitpay is targeting/ projecting a 33 fold increase in its merchants in 29 months

https://bitcointalk.org/index.php?topic=718153.msg8114560#msg8114560

“We have set a goal to enroll 1 million merchants by the end of 2016 […] When we started BitPay in 2011, we saw an opportunity to finally give merchants around the world relief from interchange fees. By offering a basic plan that is free and unlimited, forever, we give merchants yet another reason to be excited about bitcoin.”

http://www.coindesk.com/bitpay-eliminates-fees-basic-merchant-processing/

so  if in May Bitpay average was processing $1million a day from 30,000 merchants  simple maths says that by 2016 if they reach  the target of 1 million merchants or 33 times what they had then volume for bitpay alone should be in the region of $33 million a day or 1 billion + a year (minimum) so an initial $30M investment looks cheap for that volume.

BitPay Offers ‘Free and Unlimited’ Payment Processing for Merchants

Furthermore these guys are big enough to manipulate the price to almost any level they want it.. add a small portion of the trillions of dollars from wall St  that will soon get involved  I can only guess that the bears have not done their homework..in anything there is risk but the risks here are minimal compared to the potential reward...a 10 fold  (not even 33 fold yet) increase in merchants to just bitpay will put upward pressure on price.

[Possum577]

everyone has their own tipping point.

my tipping point of when i realised bitcoin is going to last a long time and is growing in adoption was in 2012. those people from 2009 probably had their tipping point to realise bitcoin will be huge was probably 2011

and as the OP says his tipping point of revelation was a year after he got into it.

there are more tipping points every day. there is no single tipping point. just an increase of tipping points. and the more we see of these 'revelations' that people have that they finally see that bitcoin is going to grow, the faster it will grow.

Well the "tipping point" is a formal term for when a new technology or idea is adopted by the masses or reaches a level of adoption that the acceptance of that technology or idea cannot be reversed. So, it's not about one person it's about the entire community. When is there enough collective momentum to push the idea forward such that it cannot fade away?

You're right that a lot of positive moments contribute to that momentum and the (singular) tipping point is only one that can be truly known in retrospect, after it's happened, after the history of events can be analyzed.

It's a very exciting time, for sure...no one on this forum will argue that!