Where are all those millionaires?

[Cluster2k]

Where are the millionaires?  Some have already been burnt by bitcoin, while others who are aware of bitcoin are sitting on the sidelines waiting to see what will happen.

I do know a millionaire and his opinion of bitcoin is pretty low simply because his son was burnt by a BFL purchase gone bad.  While bitcoin itself is fine it does seem to attract more than its fair share of scammers and thieves.  It's funny how people who get scammed using USD$ or Euros don't blame the currency for the scam, yet that's what often happens with bitcoin. 

[twiifm]

Where are the millionaires?  Some have already been burnt by bitcoin, while others who are aware of bitcoin are sitting on the sidelines waiting to see what will happen.

I do know a millionaire and his opinion of bitcoin is pretty low simply because his son was burnt by a BFL purchase gone bad.  While bitcoin itself is fine it does seem to attract more than its fair share of scammers and thieves.  It's funny how people who get scammed using USD$ or Euros don't blame the currency for the scam, yet that's what often happens with bitcoin. 

Because the ratio to scams vs market cap.  And major currencies aren't a "community" or "cult" like bitcoin is

[okthen]

Waiting for the ETF so that they have a known vehicle through which they can invest.
Sometimes I think it would be better if the Winklevoss hadn't announced their project, maybe wealthy people would be trying to get in on their own instead of waiting for the platform.

[Q7]

Because they are waiting for the right time to buy. And millionaires don't become millionaires for no reason. They know when to seize the opportunity.

[waaat?]

Wtf.. 10 million of dollars are just a dimes for many people out there.. I can't understand how they already didn't realised Bitcoin is superb store of value, better than fiat and gold. Why they don't put just a part of their wealth in it?

And where the fuck is Satoshi to support his project with this million of BTC he owns?

LOOOL!
"superb store of value"

pahahaha

.. sure ...

[botany]

Wtf.. 10 million of dollars are just a dimes for many people out there.. I can't understand how they already didn't realised Bitcoin is superb store of value, better than fiat and gold. Why they don't put just a part of their wealth in it?

And where the fuck is Satoshi to support his project with this million of BTC he owns?

Satoshi can only crash the market with his million BTC, he cannot support it. 

[btcxyzzz]

LOOOL!
"superb store of value"
pahahaha
.. sure ...

you're laughing because you obviously know nothing about properties of money. educate yourself.

[waaat?]

LOOOL!
"superb store of value"
pahahaha
.. sure ...

you're laughing because you obviously know nothing about properties of money. educate yourself.

Yes, i do, that's why i don't hold Bitcoin to store value.
In case you want to make an ass of yourself by telling people something that has up to 90% swings during a year due to its high inflation is a 'store of value' don't try. Almost too late probably.

Sure, later maybe ... but ... pipedreams, you know. Other coins are doing to value-storage for you and pretty successful in that - right now. Bitcoin wins in hype and madness, but it is not going to win the race for the best crypto store of value, that's for certain. In fact it already lost it to many coins. By the time this comes apparent to the last one some alts are going to soar. Bitcoin will have some value due to being useful and full of noobs for the sharks and whales to milk but no value to store wealth.

So because you can't use it to store value its overvaluation is bizzarre.

[btcxyzzz]

Seems like pretty good store of value to me, maybe not right now because it's fresh, but at least it's so much promising I would say it's guaranteed not to be just store of value, but profitable vehicle.

[sidhujag]

Btc needs to tie in src code changes to a consensus model based on voting.. Similar to bitshares.. Otherwise well hows it different than any central bank?

[homo homini lupus]

Seems like pretty good store of value to me, maybe not right now because it's fresh, but at least it's so much promising I would say it's guaranteed not to be just store of value, but profitable vehicle.

That inflation, dude. Makes it useless to store value! Please try to understand.

[fat buddah]

Millionaires coming in touch with this disruptive tech are all broke now. See, the anarchists always win with BTC   It actually works!

Millionaires associated with BTC are ex-millionaires, and if not now then they will be soon.

[btcxyzzz]

Btc needs to tie in src code changes to a consensus model based on voting.. Similar to bitshares.. Otherwise well hows it different than any central bank?

How's Bitcoin different than central bank? Come on....

[btcxyzzz]

That inflation, dude. Makes it useless to store value! Please try to understand.

Issuance: Mining, politics, alghorithm.    Latter one seems like most healthy to me when it comes to inflation problem.

[fat buddah]

Btc needs to tie in src code changes to a consensus model based on voting.. Similar to bitshares.. Otherwise well hows it different than any central bank?

How's Bitcoin different than central bank? Come on....

He's just out to hype the next bullshit: getting rid of consensus so the corrupt sockpuppets can do whatever they like. People are slow learners. Go look at the hardfork-stuff to see what's actually going on with this coin.

[homo homini lupus]

That inflation, dude. Makes it useless to store value! Please try to understand.

Issuance: Mining, politics, alghorithm.    Latter one seems like most healthy to me when it comes to inflation problem.

-algo has nothing diretly to do with the emission curve - 1 coin added to 100 coins supply is still 1% inflation. Sha, scrypt, X11 or what ever doesn't change things
-it's also not politics, it's a question whether the coin will survive and be adopted or not - and sadly bitcoin won't because the fundamentals in emission of coins have been made by an amateur. It's really so bad it almost looks like intentionally bad. I still can't wrap my head around how 10% inflation this year should have been justified years ago. Must really be like people say: socialism/marxism got in the way - so bitcoin failed very hard and very real in sustaining the marketcap and taking good care of the money given to it. So i don't think people will want to invest again because remember: "Repeating a mistake time and time again and expecting different outcomes is madness"

Next up: Coins being good store of value (good to investors, makes sense to put money into) and less generous to miners (more efficient)

Bitcon also has the foundation nobody likes and a community of delusionals aswell as a bad name for doing illegal stuff. I think it's pretty worn out already. Bagholders should attempt a rebrand. The brand is so horrible, only Litecoin is a more horrible brand  

back on topic: a coin not able to be a relatively stable store of value can't be called a moneytoken and is useless/insignificant as means of exchange in daily commerce.

Bitcoin being a store of value is the most wrong thing someone can attempt to say after all the history bitcoin has gone through. If bitcoin is one thing certainly NOT, it's being a store for value.

All the pipedreams of stability tomorrow and not today are also only excuses for bitcoins inability to deliver on the hype.

Can't hold value today, why should it be able to tomorrow? Lost credibility already with screwing up the most basic part.
 

[btcxyzzz]

too many bad words for the invention of money. sadly.

[arvindr]

They're already in.
There are 10 people holding 1 million BTC each, so half of the supply is in the hand of 10 people.

How can you know it?

(remember the same people might have multiple addresses)


Also the supply increases every day

Yeah I don't think that would be true. Because, then on;y 4 million bitcoin would be in cicrulation amongst all the other people.

[noma]

Wtf.. 10 million of dollars are just a dimes for many people out there.. I can't understand how they already didn't realised Bitcoin is superb store of value, better than fiat and gold. Why they don't put just a part of their wealth in it?

And where the fuck is Satoshi to support his project with this million of BTC he owns?

LOOOL!
"superb store of value"

pahahaha

.. sure ...

Probably they don't want to risk investing 10 million$ to the crazy volatility of bitcoin. even buying that amount would take us to 500$.

[btcxyzzz]

Probably they don't want to risk investing 10 million$ to the crazy volatility of bitcoin. even buying that amount would take us to 500$.

Point is... many don't risk too much by investing 10 mil $.