Topic: $10,000 Bet that Bitcoins will outperform Gold, Silver by 100X !!! - page 6. (Read 20689 times)
August 04, 2011, 07:45:52 AM
What could cause this to take off.
1 - people lock down their stuff and security takes priority
2 - more merchants accept them
3 - more people willing to pay in them
what could cause this to crash?
the opposite of above.
August 04, 2011, 07:35:47 AM
lets say i put 20$ in BTC and 10000$ in this bet:
BTC < 1000$ : i win the bet and collect his 10000 -> net win 9980$
BTC > 1000$ i lose the bet and sell my bitcoins -> net win 10000$
so... if it is too good to be true its a scam; or have I made an error in the math here?
BTC < 1000$ : i win the bet and collect his 10000 -> net win 9980$
BTC > 1000$ i lose the bet and sell my bitcoins -> net win 10000$
so... if it is too good to be true its a scam; or have I made an error in the math here?
although this is a highly unlikely outcome, what if stocks are negative after 2 years and gold and silver are up only 2%, then bitcoin would only have to be up 200%. So your $20 bitcoin investment is now $60 but you lost a $10,000 bet
August 04, 2011, 07:30:30 AM
lets say i put 20$ in BTC and 10000$ in this bet:
BTC < 1000$ : i win the bet and collect his 10000 -> net win 9980$
BTC > 1000$ i lose the bet and sell my bitcoins -> net win 10000$
so... if it is too good to be true its a scam; or have I made an error in the math here?
BTC < 1000$ : i win the bet and collect his 10000 -> net win 9980$
BTC > 1000$ i lose the bet and sell my bitcoins -> net win 10000$
so... if it is too good to be true its a scam; or have I made an error in the math here?
August 04, 2011, 06:36:37 AM
Im too poor to afford such a bet, but even if I had the spare cash, I would think twice before accepting this bet.
It is likely that this happens, as bitcoins cannot be stopped (although something like Liberty Reserve or uKash can be). Confidence in its usability will take a long time to be built up. It will take a while, and two years might be an appropriate timeframe.
Interesting thread, time will tell if it was a good choice by OP!
It is likely that this happens, as bitcoins cannot be stopped (although something like Liberty Reserve or uKash can be). Confidence in its usability will take a long time to be built up. It will take a while, and two years might be an appropriate timeframe.
Interesting thread, time will tell if it was a good choice by OP!
August 04, 2011, 06:02:16 AM
The only cavaat is that I am not sure I can agree to the charity aspect of the payout.
What? I understood it to mean that if you *lose* you get to decide which charity the money goes to.If you win. You can keep the 10K yourself.
Memorydealers is putting the money to charity if they win. You don't have to.
No at longbets the charity has to be pre-selected by each party. If they win the money goes to that charity.
Ah ok. Well I'm cool with that. It just means a smaller pool of people will be interested in the wager.
August 04, 2011, 05:49:44 AM
The only cavaat is that I am not sure I can agree to the charity aspect of the payout.
What? I understood it to mean that if you *lose* you get to decide which charity the money goes to.If you win. You can keep the 10K yourself.
Memorydealers is putting the money to charity if they win. You don't have to.
No at longbets the charity has to be pre-selected by each party. If they win the money goes to that charity.
August 04, 2011, 05:48:17 AM
All can be construed as meaning the results of the 4 are cumulative.
I would make the bet if the MyBitcoin victims were the designated charity.
I would make the bet if the MyBitcoin victims were the designated charity.
August 04, 2011, 05:47:51 AM
The only cavaat is that I am not sure I can agree to the charity aspect of the payout.
What? I understood it to mean that if you *lose* you get to decide which charity the money goes to.If you win. You can keep the 10K yourself.
Memorydealers is putting the money to charity if they win. You don't have to.
August 04, 2011, 05:44:03 AM
That seems clear enough with the exception of changing the word "ALL" to "whichever performs the best relative to the USD" and remove the mention of outperforming the USD on your youtube post since as stated $1 will still be $1 in 2 years.
For $10,000 I would be willing to take the other side of this bet while at the same time hoping you win. The only cavaat is that I am not sure I can agree to the charity aspect of the payout.
For $10,000 I would be willing to take the other side of this bet while at the same time hoping you win. The only cavaat is that I am not sure I can agree to the charity aspect of the payout.
If Bitcoin outperforms "ALL" of them, then it will certainly have outperformed whichever "one" that performs best relative to the USD.
I think it might be illegal in one of our jurisdictions if the money is not donated to charity, and that is one of the rules for www.longbets.org
They hold the money in Escrow until the bet is resolved.
August 04, 2011, 05:35:37 AM
Great to see someone putting their money where their mouth is (instead of the usual "BUY BUY BUY" thread).
Can't wait to see the outcome in two years!
Can't wait to see the outcome in two years!
August 04, 2011, 05:27:53 AM
@BTCSports,
Since I think you know a lot more about how betting works than I do, I would like your input on how to structure the bet.
I am saying that Bitcoin will outperform ALL of them.
How I imagine it would work is if the current (easy math) price of each is:
Bitcoin is $10.
Silver is $50
Gold is $1500
Dow Jones 10,000 points
Nasdaq 2,000 points
USD is $1
in two years if everything doubles (except the USD will still be worth $1USD) to:
Silver is $100
Gold is $300
Dow Jones 20,000 points
Nasdaq 4,000 points
Bitcoins would need to be more than 100x more ($1,000 a coin) for me to win the bet.
Please let me know if anything is not clear, or you think I am missing something.
Since I think you know a lot more about how betting works than I do, I would like your input on how to structure the bet.
I am saying that Bitcoin will outperform ALL of them.
How I imagine it would work is if the current (easy math) price of each is:
Bitcoin is $10.
Silver is $50
Gold is $1500
Dow Jones 10,000 points
Nasdaq 2,000 points
USD is $1
in two years if everything doubles (except the USD will still be worth $1USD) to:
Silver is $100
Gold is $300
Dow Jones 20,000 points
Nasdaq 4,000 points
Bitcoins would need to be more than 100x more ($1,000 a coin) for me to win the bet.
Please let me know if anything is not clear, or you think I am missing something.
That seems clear enough with the exception of changing the word "ALL" to "whichever performs the best relative to the USD" and remove the mention of outperforming the USD on your youtube post since as stated $1 will still be $1 in 2 years.
For $10,000 I would be willing to take the other side of this bet while at the same time hoping you win. The only cavaat is that I am not sure I can agree to the charity aspect of the payout.
August 04, 2011, 05:19:23 AM
This is awesome. We need more people like you. All those people who sold off yesterday are morons! Cheap bitcoins for those who are left! 
August 04, 2011, 05:11:39 AM
@BTCSports,
Since I think you know a lot more about how betting works than I do, I would like your input on how to structure the bet.
I am saying that Bitcoin will outperform ALL of them.
How I imagine it would work is if the current (easy math) price of each is:
Bitcoin is $10.
Silver is $50
Gold is $1500
Dow Jones 10,000 points
Nasdaq 2,000 points
USD is $1
in two years if everything doubles (except the USD will still be worth $1USD) to:
Silver is $100
Gold is $300
Dow Jones 20,000 points
Nasdaq 4,000 points
Bitcoins would need to be more than 100x more ($1,000 a coin) for me to win the bet.
Please let me know if anything is not clear, or you think I am missing something.
Since I think you know a lot more about how betting works than I do, I would like your input on how to structure the bet.
I am saying that Bitcoin will outperform ALL of them.
How I imagine it would work is if the current (easy math) price of each is:
Bitcoin is $10.
Silver is $50
Gold is $1500
Dow Jones 10,000 points
Nasdaq 2,000 points
USD is $1
in two years if everything doubles (except the USD will still be worth $1USD) to:
Silver is $100
Gold is $300
Dow Jones 20,000 points
Nasdaq 4,000 points
Bitcoins would need to be more than 100x more ($1,000 a coin) for me to win the bet.
Please let me know if anything is not clear, or you think I am missing something.
August 04, 2011, 05:09:49 AM
I've bought hardware from Memorydealers a few times.
Nice to see the owner has some major balls & confidence in BTC.
Nice to see the owner has some major balls & confidence in BTC.
August 04, 2011, 05:00:35 AM
I have absolute faith in Bitcoin and the concept behind it but still may be interested in the bet. I do need you need to be a little more clear.
Please define outperform? To say that Bitcoin will outperform the stock market (which index), Gold (relative to what), Silver (relative to what) and the US Dollar (relative to what) is very vague. Also you are measuring the performance of Bitcoin relative to what? Does Bitcoin have to outperform whichever of the above four performs the best over the next two years?
My opinion is that you are setting yourself up for failure saying that Bitcoin will outperform all of the above by 100x as the USD is inversely correlated to Silver and Gold.
Quote
I'm willing to bet $10,000 USD or equivalent in Bitcoins, that over the next 2 years, Bitcoins will not only outperform the stock market, Gold, Silver, and the US dollar, but Bitcoins will do it by more than 100 times.
Please define outperform? To say that Bitcoin will outperform the stock market (which index), Gold (relative to what), Silver (relative to what) and the US Dollar (relative to what) is very vague. Also you are measuring the performance of Bitcoin relative to what? Does Bitcoin have to outperform whichever of the above four performs the best over the next two years?
My opinion is that you are setting yourself up for failure saying that Bitcoin will outperform all of the above by 100x as the USD is inversely correlated to Silver and Gold.
August 04, 2011, 04:48:43 AM
I am %100 serious, but remember, when I win the money will be donated to charity.
August 04, 2011, 04:43:58 AM
I am going to start directing all my customers to buy their ram from him. Hope he's dead serious about this. 
Obviously think hes winning the bet...
Obviously think hes winning the bet... August 04, 2011, 04:41:17 AM
$10,000 Bet that Bitcoins will outperform Gold, Silver by 100X over the next two years
Please spread this far and wide, It should be good for some positive media attention.
http://www.youtube.com/watch?v=gfydIbhduu0
Roger Ver
Memorydealers KK
(A Division of MemoryDealers.com, Inc.)
8F Kudan minami green building,
3-7-7 Kudan minami, Chiyoda-ku,
Tokyo, 102-0074, Japan
[email protected]
TEL +81-3-6280-8666
FAX +81-3-6280-8665
MOBILE: +81-80-3242-1056
AIM: rogerkver
MSN [email protected]
Yahoo rogerkver
Twitter http://twitter.com/MemoryDealers
For all your Memory needs please visit
http://www.memorydealers.com
Please spread this far and wide, It should be good for some positive media attention.
http://www.youtube.com/watch?v=gfydIbhduu0
Roger Ver
Memorydealers KK
(A Division of MemoryDealers.com, Inc.)
8F Kudan minami green building,
3-7-7 Kudan minami, Chiyoda-ku,
Tokyo, 102-0074, Japan
[email protected]
TEL +81-3-6280-8666
FAX +81-3-6280-8665
MOBILE: +81-80-3242-1056
AIM: rogerkver
MSN [email protected]
Yahoo rogerkver
Twitter http://twitter.com/MemoryDealers
For all your Memory needs please visit
http://www.memorydealers.com
This is the attitude I wish everyone here would express.
You're a legend. Perhaps I should bet some money too, but considerably a bit lower than 10k to my friends.
August 04, 2011, 04:40:26 AM
I can't view videos in work. What's all this about?
August 04, 2011, 04:38:20 AM
Instant Legend 
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