Topic: 100 bitcoins. Will I be a millionaire by 2020? - page 21. (Read 77417 times)

Look at language. The dropping of unstressed sounds in words is a natural process which occurs without deliberate work. I believe zeroes will be dropped similarly.

And it won't change by itself. There needs to be work done to make smaller units more widely used.

I'm not saying it won't change. What I do find strange is that there are folks on here who don't seem to think it needs to change. They are clearly superior beings because I usually find my mouth hanging open and counting fingers when trying to calculate these things.

Do we measure cells in metres? The zeroes are a convention, and we can adopt any power for our base units, as befits our purpose.

So it's an issue that will resolve itself, like these tasty anthrax spores on my microscope slide. Yums.

hope you are correct..I have a real shot at 100 btc now with the btc I have already

(now when to dump my hoarded LTC from mining..the price that is ..convert to BTC ....is the problem I have about this now ..drama

but yeah $0 or big $$$ there is no in between

The chances are highly likely. Although you could gain a lot of have nothing at all. let's just hope that you do become a millionaire because  that would be great for every one else too! Till then just hold on tight and be patient till 2020, ok.

My best advice would be to have patience hold your coins strong, the price will go up and down, but the technology remains the same and we all know it should be worth way more than what we see today in the future.

I am OK with either.
currently, $1=3891bits
However, IF 1BTC=$35K, then $1 would=~29 bits
many people already complaining that you pay too much for bitcoin (unit)
In my opinion, if you'll get 1mil units (bits) for $257 now, people will feel MORE likely to transact.
"look mom, I got three hundred thou of blah blah for my birthday cash from granny" instead of "I got one third of bitcoin...Mom: why so little? Friends: one third-man, that's nothing to talk about"
It is purely psychological.
milli is OK as well, although most people in US don't deal in metric system.

I think it was 100 Satoshis.


I'm not a fan of the endless zeroes myself yet here I am on this forum. It's just not how most minds are comfortable conceiving numbers.

I liked millibits. When bitcoin was $1000, 1 mB was almost equal to 1 dollar. 

How many bits does $1 get you?

Just build a giant baby creche for them.

Coinbase and Bitpay etc tried to get rolling with 'bits' but that seems to have petered out somewhat. I agree with you. There are many on here who often say it doesn't make a difference but they're probably up to their eyes in coding. The average human does not want to contend with 6 zeroes before they get to the meat of their payment.

Effectively, bitcoin can become worth $10K-100K, but, in my opinion, it would need to reshuffle its main unit from 1BTC=10^8 satoshis to a bit (or equivalent)=10^2 satoshis.
Large denominations monetary instruments tend to be solely for investment, not trading or usage. Example-BRK-A at $205K/share and volume of just 600/day.
If, for example, BTC is 35K, then a cup of coffee is just 0.0001 btc. People are not very good in dealing with so many zeroes  after the decimal.

100 bitcoins aren't going to make you a millionaire my friend, in fact they aren't going to make you any different from what you are now. i mean to say that this amount is minute and doesn't make a big difference. you will need atleast a thousand to make your millionaire dreams come true. and by 2025 i don't think even being a millionaire would be enough .

with 1000 BTC you will have a better chance of being a millionaire by 2020 but i don't think you can be a millionaire with 100 BTC. besides, if bitcoin can go that high in price in the future, that means it is widely accepted as a currency and you can spend it just like fiat then you don't have to sell it.

even if you will be millionare try to use your bitcoin directly by that time, bitcoin is not here to be dumped one day for big money

it's here to match other payments system, so no matter the price you should use it as you use other fiat, to buy stuff, without dumping, do you dump USD for euro when you buy soemthing in america? no, do the same with bitcoin

Nope, I dont think you'll be a millionaire by 2020, however you might be one by 2025-2030. It'll take another 10 years for the bitcoin to reach 10k. it should be around 5k by 2020. I am just going by the trend. I hope I am wrong with my speculations and you're right ..all the best!

Just risk a few years of savings on a high risk cryptocurrency and wait 15 years and you'll finally be able to afford this lovely home in Albany, California:

http://www.zillow.com/homes/for_sale/house_type/24851541_zpid/days_sort/38.001979,-122.104282,37.771936,-122.468204_rect/11_zm/?view=map

Oh wait, the home will cost 1.5 million by then.

Millionaire doesn't mean anything anymore.

You'll be a millionaire by 2025-2030 I guess. By 2020 the price of BTC wouldn't be more than 5k$ imo. Hold on have some patience. 10 more years and bam you're a millionaire!

If you are only going to take into account things that are completely knowable, then I advise you, quit bitcoin now. The risk is absolutely not worth it. If you don't take into account the slight possibility that there will be killer apps, and only look at how bitcoin is today, then I guarantee you, bitcoin will NEVER reach mainstream, and bitcoin will die a horrible death when miner rewards become insignificant and the system becomes easy to attack. Most people in the world already heard of bitcoin, they're not going to use it as it currently is, period.

Unless you're considering the possibility that bitcoin will be GREATLY improved, and there will be killer apps on top of bitcoin, just stop wasting your time on this. Bitcoin as it currently is cannot even come close to comparing against banks and visa and mastercard.

It's funny because you got it completely wrong. TA is only good for short term, when there are no new developments, if it's any good at all. No matter how good you are at TA, you cannot account for events in the long term that will affect the market. The longer term you're looking, the higher chance that some event will happen, whether it helps the price or harms the price. The chances will tend to 100% as the time gets longer. So to say that TA works for longer term while predictions based on reality is "baseless" is just laughable. TA is okay for day traders, that's why they use it for trading. For longer term holders, you need to take into account the potential of the investment, the developments that will probably happen in 5-10 years, or even longer, rather than to simply look at the current situation.

@the other guy: How do you know that the halving is one of the variables that have a significant influence over bitcoin's price? Do you have stats to back it up? Same thing with Greece. Most of the reputable people like Fred Wilson and Andreas don't think the current Greece situation has much affect on the price of bitcoins (It might in the future, but not yet). How can you prove that the little pump is correlated to Greece?

I don't think either event has nearly as big an impact as people are led to believe.