Melbustus
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Activity: 1722
Merit: 1003
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July 26, 2015, 10:12:09 PM |
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as Satoshi said, you will either be a millionaire or have nothing by 2020
(you can easily find the quote)
I think you mangled the quote. Here's what I believe you're referencing: ... In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I'm sure that in 20 years there will either be very large transaction volume or no volume.
First off, he's talking about 2030, not 2020. Second, he's talking about transaction volume, not exchange-rate. Obviously, though, if transaction volume is "very large" in 2030, it means bitcoin did indeed achieve market success; thus, it's reasonable to assume it commands a good deal of purchasing power. And third, let's also note that he was saying that it'll be a few decades before transactions fees become the main compensation for "nodes" (mining-nodes). This design/intent is directly contrary to what people who want to keep the blocksize at 1MB at currently saying. |
Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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The forum strives to allow free discussion of any ideas. All policies are built around this principle. This doesn't mean you can post garbage, though: posts should actually contain ideas, and these ideas should be argued reasonably.
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yefi
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Activity: 2842
Merit: 1511
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July 27, 2015, 02:57:03 AM |
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Most people are very unimaginative (and uninformed). They can't really think for themselves.
Alas, herein we seek our advantage. |
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ekissane (OP)
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July 29, 2015, 10:20:42 PM |
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Most likely yes, you will be millionaire by them.
People tend to forget how the halving in reqards affects price.
Currently with 25 btc per block, we have an average of 10% inflation
wich is considered A LOT for a normal fiat economy.
What causes bitcoin to not fall is the huge demand wich will continue to rise
dramatically, while the halving will greatly reduce the inflation rate in the following years.
So yes, you will be a millionaire. Bitcoin is the future.
And you're part of it.
Enjoy.
Looking forward to it  |
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roadbits
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Activity: 1092
Merit: 1000
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July 30, 2015, 02:04:56 AM |
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100 btc on a probably value of 10k per coin, you will be rich for sure
bitcoin has a bright future from what I can see
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CPNpr
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August 04, 2015, 02:59:49 PM |
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As said not this hyper, price will go up but may you need to consider 2200 rather than 2020  |
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futureofbitcoin
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August 05, 2015, 04:05:21 PM |
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As said not this hyper, price will go up but may you need to consider 2200 rather than 2020 I think bitcoin will reach 10k+ in 2020. Maybe 100k+ even. But bitcoin might not even exist anymore in 2200. |
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futurebit640
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August 05, 2015, 05:25:46 PM |
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I think 10000$ is possible in 2020. I think bitcoin will be replaced by some better system for payments, but will stay a valuable asset the digital gold
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gentlemand
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Merit: 3013
Welt Am Draht
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August 05, 2015, 06:18:10 PM |
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But bitcoin might not even exist anymore in 2200.
Ideally society would be post conventional economics by then. Whatever happens there might well be something still called Bitcoin. No doubt it'll bear absolutely no technical resemblance to what's around today. Despite that you'll hopefully be able to still import ancient coins. If catches fire in the next few decades it would be daffy to discard the brand. I'm too ancient to conceive of the far future but I can't see digital units of account broadcastable through the ether going out of fashion any time soon. |
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BitmoreCoin
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August 23, 2015, 01:34:06 PM |
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I think 10000$ is possible in 2020. I think bitcoin will be replaced by some better system for payments, but will stay a valuable asset the digital gold
I agree with that. |
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El Emperador
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August 23, 2015, 01:55:45 PM |
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I think 10000$ is possible in 2020. I think bitcoin will be replaced by some better system for payments, but will stay a valuable asset the digital gold
I agree with that. Sorry I don't get it: what kind of better system for payments? |
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kenbytes
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August 23, 2015, 02:01:04 PM |
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I think it is better to think of 1000 BTC than only hope that the price will be 10 000
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Finchy
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August 23, 2015, 02:02:14 PM |
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I think 10000$ is possible in 2020. I think bitcoin will be replaced by some better system for payments, but will stay a valuable asset the digital gold
Anything is possible but the truth is absolutely no one knows what bitcoin is going to be worth in the future - 1 million or zero. I think 100 bitcoins would be a nice amount to have as a speculative investment, though. |
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SolarSilver
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Merit: 1000
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August 23, 2015, 03:45:38 PM |
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As said not this hyper, price will go up but may you need to consider 2200 rather than 2020 I think bitcoin will reach 10k+ in 2020. Maybe 100k+ even. And what is the use if due to hyperinflation USD 10k buys you a loaf of bread? Yeah I'm a millionaire.... happy happy joy joy :-) |
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gentlemand
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Activity: 2590
Merit: 3013
Welt Am Draht
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August 23, 2015, 03:49:39 PM |
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And what is the use if due to hyperinflation USD 10k buys you a loaf of bread?
Yeah I'm a millionaire.... happy happy joy joy :-)
That's a very tired analogy that pops up, ooh, at least once a day. I think when those figures are bandied about then we're talking similar buying power to now. If we do get our $10,000 loaf then being in BTC still looks like a much better deal than USD. |
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richardsNY
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Activity: 1232
Merit: 1091
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August 23, 2015, 05:31:42 PM |
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I think 10000$ is possible in 2020. I think bitcoin will be replaced by some better system for payments, but will stay a valuable asset the digital gold
It will be possible if the demand explodes at some point within a few years. Currently it seems that people are already happy when Bitcoin touches $1K again. |
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ssmc2
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Activity: 2002
Merit: 1040
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August 23, 2015, 05:31:58 PM |
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As said not this hyper, price will go up but may you need to consider 2200 rather than 2020 I think bitcoin will reach 10k+ in 2020. Maybe 100k+ even. And what is the use if due to hyperinflation USD 10k buys you a loaf of bread? Yeah I'm a millionaire.... happy happy joy joy :-) The cost of bread has gone up 20x in the past 100 years. You're saying you believe it's possible for it to go up 4000x in the next 5 years? Lol. The Fed will never let that happen. |
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Suntouri
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August 23, 2015, 05:33:11 PM |
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i hope yes, if you are rich i will be rich too haha
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SolarSilver
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Activity: 1112
Merit: 1000
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August 24, 2015, 05:42:50 AM |
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The cost of bread has gone up 20x in the past 100 years. You're saying you believe it's possible for it to go up 4000x in the next 5 years? Lol. The Fed will never let that happen.
The point is that the word millionaire means less these days... You used to be rich if you were a millionaire but today holding over USD 1M in assets means very little... for many of us if we add up the value of our houses and some savings, it's easy to top 1 million. But in no means we are rich... meaning we still have to work each day to make ends meet. What is a millionaire to you? Somebody who can sit back and not have to work each day, live of his fortune? You can't do that with a mere USD 1M today |
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Bagatell
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August 24, 2015, 06:39:38 AM |
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What is a millionaire to you? Somebody who can sit back and not have to work each day, live of his fortune? You can't do that with a mere USD 1M today
You can if you don't fritter your resources on bling. I know quite a few people who are time rich and money poor. |
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