Dubai to drive the next boom

[ensurance982]

Dubai is just a small country, we need china.

Not small in terms of the money involved, not a country either.

Ha yeah, it's an Emirate and a city, but it's the de facto capital of the Arab financial world. Its growth over the past decades is nearly unprecedented I guess and the wealth over there is just mezmerizing. If some of the people there just to decide to drop "a few bucks" in Bitcoin, the price will react. A lot.

[falllling]

Dubai is just a small country, we need china.

Not small in terms of the money involved, not a country either.

Ha yeah, it's an Emirate and a city, but it's the de facto capital of the Arab financial world. Its growth over the past decades is nearly unprecedented I guess and the wealth over there is just mezmerizing. If some of the people there just to decide to drop "a few bucks" in Bitcoin, the price will react. A lot.

one same answer to your questions,

what if a small part of GOLD market fund goes to bitcoin,
what if a small part of STOCK market fund goes to bitcoin,
what if a small part of OIL market fund goes to bitcoin,
what if a small part of ALL WORLD FINANCIAL CAPITAL, PAYPAL,WESTERN UNION goes to bitcoin,
what if a small part of Cyprus Argentine Greece capital goes to bitcoin

No, they just don't, at least not for a very long time if bitcoin can live that long

[ensurance982]

No, they just don't, at least not for a very long time if bitcoin can live that long

Well, but people are getting invested. What about SecondMarket? If the "big money" isn't "really invested" as of now, we'd still be at a very early phase of the Ponzi pyramid, if it was one.

[btcxyzzz]

During the global financial crisis the emirate called on its neighbor Abu Dhabi for $20 billion in emergency loans in order to avoid default.

The emirate still had debt problems now.

http://gulfbusiness.com/2013/07/dubais-debt-wall-still-looming/#.VAChQ4FdVKY

That has nothing to do with rich individuals there. And there are some insanely rich individuals there, like 1 billion $ is pocket change. Bullish as hell here too...

[niothor]

No, they just don't, at least not for a very long time if bitcoin can live that long

Well, but people are getting invested. What about SecondMarket? If the "big money" isn't "really invested" as of now, we'd still be at a very early phase of the Ponzi pyramid, if it was one.

We don't need investors in bitcoin. We need people who accept bitcoins as payments and people who use bitcoins to shop and pay their bills.

[ensurance982]

No, they just don't, at least not for a very long time if bitcoin can live that long

Well, but people are getting invested. What about SecondMarket? If the "big money" isn't "really invested" as of now, we'd still be at a very early phase of the Ponzi pyramid, if it was one.

We don't need investors in bitcoin. We need people who accept bitcoins as payments and people who use bitcoins to shop and pay their bills.

Yes, a greater adoption is good. But a rising price attracts the peoples' interest like nothing else, and fuels Bitcoins development! Bitcoin also is great for storing wealth, so why not use that potential, too?

[messibtc]

Dubai is a small country but it has some big whales who can enter in the market and pump the price.

[minerpumpkin]

We'll have to wait and see what materializes eventually! But You always have to keep in mind that they really do have a ton of money, and also the remittance market is very big (a lot of migrant workers from India!!!) This may be a perfect proving ground!

[linxproz]

Probably if only ONE of the rich guys in Dubai will enter in bitcoin, he could increase the value by hundreds of dollars alone.

[GangkisKhan]

Dubai is just a small country, we need china.

Not small in terms of the money involved, not a country either.

Ha yeah, it's an Emirate and a city, but it's the de facto capital of the Arab financial world. Its growth over the past decades is nearly unprecedented I guess and the wealth over there is just mezmerizing. If some of the people there just to decide to drop "a few bucks" in Bitcoin, the price will react. A lot.

And middle east countries are filthy rich with oil money. Imagine if any of the government just invest 1-5% of their revenue into bitcoin.

This could be even bigger than wall street etf.

[minerpumpkin]

Probably if only ONE of the rich guys in Dubai will enter in bitcoin, he could increase the value by hundreds of dollars alone.

Yeah, well they'd be smart to do this gradually. But even if they did that, the price would benefit quite a bit, I guess! Let's see if they join the party. I guess the whole remittance market won't push the price up too much, but it will still help people and bring Bitcoin to new countries.

[ensurance982]

Yeah well, the more I think about this, the more I tend to believe that they will be the catalyst of the next bubble. And they may not be billions of people (like in China), but they're people with billions of $

[itsAj]

Dubia will build a mile high tower called Bitcoin Tower. All 200 floors of it will be filled with mining ASICs. Visitors who wish to take the elevators to the moon observation deck will have to pay in Bitcoin. The tower will become with single most profitable structure per (footprint) square foot ever known to mankind. They will then proceed to build more of these towers, fueling the Bitcoin price to $1,000,000 each and beyond.

I don't think these kinds of towers would have much effect on the price of bitcoin. They would, if really built the way you propose would certainly cause the difficulty to go up a lot. Although I am not sure how profitable this would actually be as it is very hot in Dubai.

If designed properly, they could use the rising heat to draw air in at the lower levels, creating a nice breeze toward the tower for everyone around it to enjoy.

You are correct that hot air rises, but hot air blowing on you will not have the same effect as a "breeze" also from this description the building will not be occupied by many people (likely only people who manage the ASICs).

Either way it would likely not be profitable with or without cooling costs.

[wasserman99]

No, they just don't, at least not for a very long time if bitcoin can live that long

Well, but people are getting invested. What about SecondMarket? If the "big money" isn't "really invested" as of now, we'd still be at a very early phase of the Ponzi pyramid, if it was one.

We don't need investors in bitcoin. We need people who accept bitcoins as payments and people who use bitcoins to shop and pay their bills.

This is exactly correct. What we need to see if people using bitcoin to pay for good/services and the seller of these goods/services to pay their expenses in bitcoin (and their suppliers, ect.).

[jjacob]

And middle east countries are filthy rich with oil money. Imagine if any of the government just invest 1-5% of their revenue into bitcoin.

This could be even bigger than wall street etf.

You don't need the government investing. Just one of the sheikhs taking a fancy to bitcoin would do. 

[ensurance982]

And middle east countries are filthy rich with oil money. Imagine if any of the government just invest 1-5% of their revenue into bitcoin.

This could be even bigger than wall street etf.

You don't need the government investing. Just one of the sheikhs taking a fancy to bitcoin would do. 

Yeah, I don't know why we would need a government actually investing... When they're investing, we'd jeopardize some of Bitcoin's independence! On the other hand, other governments may be tempted to do the same and thus creating a decentralized mutually assured stability pact, so to say.

[STT]

Dead Cat Bounce buddy!

The cat is made of pure rubber, who knows where it'll end up :p  volatility is high

Arab money moving into the BTC world. Get ready for liftoff. Next year is going to be fun, specially after seeing all these fallling retarded posts.

This is actually a good news for bitcoin.

Arab can ditch US bond and invest in bitcoin instead, they have a huge stash of USD they have no idea what to do with.

That is not unfeasible.   The use of silver in the early eighties as a proxy for failing dollar, caused a very large spike in that market.    There is some history on that and of course in that case a billionaire backed the idea plus silver was the original backing for the dollar. 
  Bitcoin would be a much bigger leap to make but sure its possible if bitcoin can make itself credible as an alternative, it would probably help alot to sell it in actual coin form as has been done a few times

[jjacob]

I hope some royal prince starts 'collecting' bitcoins. Stranger things have led to price increases. 

[blade87]

Dubia will build a mile high tower called Bitcoin Tower. All 200 floors of it will be filled with mining ASICs. Visitors who wish to take the elevators to the moon observation deck will have to pay in Bitcoin. The tower will become with single most profitable structure per (footprint) square foot ever known to mankind. They will then proceed to build more of these towers, fueling the Bitcoin price to $1,000,000 each and beyond.

I don't think these kinds of towers would have much effect on the price of bitcoin. They would, if really built the way you propose would certainly cause the difficulty to go up a lot. Although I am not sure how profitable this would actually be as it is very hot in Dubai.

If designed properly, they could use the rising heat to draw air in at the lower levels, creating a nice breeze toward the tower for everyone around it to enjoy.

You are correct that hot air rises, but hot air blowing on you will not have the same effect as a "breeze" also from this description the building will not be occupied by many people (likely only people who manage the ASICs).

Either way it would likely not be profitable with or without cooling costs.

Well then they will just have to keep building taller and taller towers to utilize cooler air at higher altitudes. The mile high one is just the first one. It will end when one of these towers actually physically touches the moon! Then there will be no denying the fact ever again in all of human past present and future that BTC went to the moon.

PROOF IS IN THE TA



But the moon is still very, very far away from the top of Burj Dubai.

[falllling]

Dubia will build a mile high tower called Bitcoin Tower. All 200 floors of it will be filled with mining ASICs. Visitors who wish to take the elevators to the moon observation deck will have to pay in Bitcoin. The tower will become with single most profitable structure per (footprint) square foot ever known to mankind. They will then proceed to build more of these towers, fueling the Bitcoin price to $1,000,000 each and beyond.

I don't think these kinds of towers would have much effect on the price of bitcoin. They would, if really built the way you propose would certainly cause the difficulty to go up a lot. Although I am not sure how profitable this would actually be as it is very hot in Dubai.

If designed properly, they could use the rising heat to draw air in at the lower levels, creating a nice breeze toward the tower for everyone around it to enjoy.

You are correct that hot air rises, but hot air blowing on you will not have the same effect as a "breeze" also from this description the building will not be occupied by many people (likely only people who manage the ASICs).

Either way it would likely not be profitable with or without cooling costs.

Well then they will just have to keep building taller and taller towers to utilize cooler air at higher altitudes. The mile high one is just the first one. It will end when one of these towers actually physically touches the moon! Then there will be no denying the fact ever again in all of human past present and future that BTC went to the moon.

PROOF IS IN THE TA



But the moon is still very, very far away from the top of Burj Dubai.

bitcoin is going to the final capitulation sell or lose everything!