We already passed the tipping point of BTC

[kerafym]

Ethereum and Steller are making a lot of noise lately.

And some long term holders are spending a lot of their coins on Ethereum. That should worry someone who still put all eggs in one basket.

[doubleredrolex]

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.

Having more than 2,000 BTC is currently going to make a person a bitcoin millionaire and that person is going to be in a pretty good position after the next bubble, I suppose. 

Maybe also having more than 200 BTC will also be pretty good? 

Having more than 20BTC seems to be the minimum level of prudence that investors should strive to achieve before the next bubble, it seems?

Having more than 2BTC is going to take a few pretty good sized bubbles in order to bring a meaningful quantity.

holy cow i wish i had 200 BTC right now.

[leex1528]

It does NOT seem that advice is being sought in this thread, and it seems as if you did NOT even come close to answering the question about whether BTC is at a tipping point or NOT.....


On the other hand, if you did answer the question by stating that anything can happen at any time, then that kind of an answer would imply that BTC is NOT at a tipping point b/c anything can happen.  

So I will take it that your answer is NO.... BTC is NOT at a tipping point.   

Correct, no one knows if it is at its tipping point or not...

If we could all predict the market so well, I don't know about you but I would have but 500 dollars in bit coins when you could buy 1,000 bitcoins at 1 dollar....

So like I said, no one actually knows what will happen, just sit back and enjoy the ride!

[LiteCoinGuy]

Ethereum and Steller are making a lot of noise lately.

And some long term holders are spending a lot of their coins on Ethereum. That should worry someone who still put all eggs in one basket.

Ethereum and Steller and Nxt and Counterparty and... - where should i invest know  ?

[Acidyo]

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

I really like this. The future will be bright for those who hold on to their precious coins.

[JayJuanGee]

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.

Having more than 2,000 BTC is currently going to make a person a bitcoin millionaire and that person is going to be in a pretty good position after the next bubble, I suppose. 

Maybe also having more than 200 BTC will also be pretty good? 

Having more than 20BTC seems to be the minimum level of prudence that investors should strive to achieve before the next bubble, it seems?

Having more than 2BTC is going to take a few pretty good sized bubbles in order to bring a meaningful quantity.

holy cow i wish i had 200 BTC right now.

Hehehehehe... In my post, I was trying to indirectly coerce bitcoin millionaire into revealing his quantity of coins - but he did NOT take the bait....

Surely out of the numbers that I listed - increments of 10, 200 BTC does seem plausible to become a bitcoin millionaire in the near future... but we need to get to $5k per coin to achieve such - that $5K per coin does seem fasible and within the realm of soon possibilities - however, how long will it take?  anywhere between 6 months and 5 years, depending on luck and good fortune? 

[JayJuanGee]

It does NOT seem that advice is being sought in this thread, and it seems as if you did NOT even come close to answering the question about whether BTC is at a tipping point or NOT.....


On the other hand, if you did answer the question by stating that anything can happen at any time, then that kind of an answer would imply that BTC is NOT at a tipping point b/c anything can happen.  

So I will take it that your answer is NO.... BTC is NOT at a tipping point.   

Correct, no one knows if it is at its tipping point or not...

If we could all predict the market so well, I don't know about you but I would have but 500 dollars in bit coins when you could buy 1,000 bitcoins at 1 dollar....

So like I said, no one actually knows what will happen, just sit back and enjoy the ride!

You may be correct in some degree; however, I would NOT be so fatalistic about these kinds of matters and in that regard you seem to be throwing up your hands while at the same time suggesting that we are all equal in our levels of BTC predictive knowledge, which I doubt to be the case. 

Even though some people make predictions, when push comes to shove, NO one is really claiming that they know, but instead, they are betting on probabilities (to the extent that they have thought through the situation and made some attempts at BTC price predictions).

If you have NOT figured it out by now, there is going to be quite a bit of variance in knowledge levels of people and their experiences, and their level of exposure or even access to BTC and risk tolerances.  Frequently, these different skills and knowledge levels affects perspectives and calculations that these people will do.

Take your example of one thousand bitcoins for a dollar, few people would have stocked up to $500 worth of bitcoin at that time, yet a lot has developed in the bitcoin space since then to inform people about bitcoin and about its various implementations and adoption. 

Also, if you had NOT noticed, there are some people in positions to manipulate btc prices and there are also insider traders who are participating in the BTC space and have been able to act before some major BTC announcement.  Even though these manipulators may NOT be able to substantially alter the long-term direction of BTC, they could affect the short and/or medium terms of BTC.  In this regard, there are entities and people that do have powers to affect the direction of BTC (or at least some aspects of the BTC space).

[JayJuanGee]

 

Anywhere between 3 weeks and 5 years is more like it.

Three weeks would be nice, but I have my doubts... call me a naysayer.   

[depakote]

BTC is the new currency in my eyes as its possible gunna bring down the centralized currency that runs this bulllshit world ! thank god

[chopstick]

Soon enough, we will all be bitcoin millionaires.

10-20 BTC is all you need to have at least a million $ worth.

But at that point, it would be stupid to cash out. Just spend the BTC itself, and invest it to keep yourself perpetually wealthy.

[DannyElfman]

Soon enough, we will all be bitcoin millionaires.

10-20 BTC is all you need to have at least a million $ worth.

But at that point, it would be stupid to cash out. Just spend the BTC itself, and invest it to keep yourself perpetually wealthy.

I always wonder what would happen if BTC goes to 1000 then 5000 then 10000 ect until 500000. Most people now say they would hold BTC forever, but I think everyone has a point, where he would cashout a biiiig chunk of his holdings.

Like your 10-20 BTC amount. Do you really think people could withstand the temptation of selling at 10000 USD?

[Bagatell]

Like your 10-20 BTC amount. Do you really think people could withstand the temptation of selling at 10000 USD?

Yes, if they bought at 7000 or 8000.

[JayJuanGee]

Soon enough, we will all be bitcoin millionaires.

10-20 BTC is all you need to have at least a million $ worth.

But at that point, it would be stupid to cash out. Just spend the BTC itself, and invest it to keep yourself perpetually wealthy.

I always wonder what would happen if BTC goes to 1000 then 5000 then 10000 ect until 500000. Most people now say they would hold BTC forever, but I think everyone has a point, where he would cashout a biiiig chunk of his holdings.

Like your 10-20 BTC amount. Do you really think people could withstand the temptation of selling at 10000 USD?

Well, to be millionaires with only 10-20BTC assumes BTC is going to rise to $50k or $100k "soon."

I hope that prediction is true and "soon" is within the next few years, yet I have my doubts that BTC will reach those kinds of prices within the next 5 years (but NEVER say never).

Regarding the cashing out statement:  Surely, we should already plan that at certain profit levels we are going to cash out and/or diversify parts of our BTC holdings (and that would depend upon our investment in and maybe if our investment is double or 5x or 10x) - which may cause us to profit less or  it may be prudent b/c we can buy in again on dips or just be in a more secure financial position to have diversified assets.

[desired_username]

I always wonder what would happen if BTC goes to 1000 then 5000 then 10000 ect until 500000. Most people now say they would hold BTC forever, but I think everyone has a point, where he would cashout a biiiig chunk of his holdings.

Like your 10-20 BTC amount. Do you really think people could withstand the temptation of selling at 10000 USD?

This happened a few times already. It's not the price levels but % gains which matter and I agree, not many people can withstand cashing out/spending on rallies, but it's part of the progress and it's not negative.

In my opinion, If 1 bitcoin would worth $10000 (current $ value) it would mean that people are getting paid in btc, it's accepted in the majority of places (on the internet, and in bigger cities) and that there are a lot of valuable bitcoin businesses around.

To reach stability, better coin distribution have to be achieved, which means bigger holders ("early adopters") spending, dumping or investing part of their holdings.

When I got my first bitcoins there weren't many options to spend them expect exchanging it on mtgox or buying alpaca socks. Considering the progress so far I really hope that in the future I won't have to use fiat.

[MasterOwel]

We talk all big like bitcoin is going to raise or be the next currency. But I just thought, what about when the people currently using bitcoin die out? And take so many bitcoins that might not be returned to the blockchain if their family or friends either don't know said person had them, or don't know what they are.

[desired_username]

We talk all big like bitcoin is going to raise or be the next currency. But I just thought, what about when the people currently using bitcoin die out? And take so many bitcoins that might not be returned to the blockchain if their family or friends either don't know said person had them, or don't know what they are.

As with any other assets which can be hidden (like gold/silver/cash stash) it's the owners responsibility to include their holdings in their will.

[zadiume]

Well this doesnt look very good:
https://www.youtube.com/watch?v=vnm4xFC2xNo

[JayJuanGee]

We talk all big like bitcoin is going to raise or be the next currency. But I just thought, what about when the people currently using bitcoin die out? And take so many bitcoins that might not be returned to the blockchain if their family or friends either don't know said person had them, or don't know what they are.

As with any other assets which can be hidden (like gold/silver/cash stash) it's the owners responsibility to include their holdings in their will.

This is definitely a problem b/c people may NOT safeguard their private keys adequately in order for the transfer of assets to their intended heirs.  If these BTC become lost, then the whole BTC community become the heirs b/c the value of the remaining BTC goes up.

[ensurance982]

Ethereum and Steller are making a lot of noise lately.

And some long term holders are spending a lot of their coins on Ethereum. That should worry someone who still put all eggs in one basket.

Ethereum and Steller and Nxt and Counterparty and... - where should i invest know  ?

Ha yeah, who knows? Some people are diversifying as much as they can. Always afraid they could miss 'the next big thing'. The next 30x Litecoin bubble or something alike. I sometimes wonder whether it is all those altcoins that actually drain BTC's power nowadays!

[chopstick]

I honestly believe that once we break the 10k Barrier, the price will increase exponentially afterwards...20k and 30k will be quick to fall.