$500,000 per Bitcoin, baby. The math behind it. - page 13.

JayJuanGee

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Quote from: TheNewAnon135246 on August 02, 2014, 01:39:36 PM

I'd love to see this happening but I really doubt it. $5,000 is do-able but $500,000 is likely to ever happen.

I have been thinking that $5K or $50K are possible in the next few years; however, $500K is some other level shit, and surely it is possible, but maybe like Burt W suggested, such a price may NOT be too sustainable for a lot of reasons or even feasible until something like 20 years from now.... and by then, who knows what the state of the crypto world is going to be... we may be in for some real surprises.. if we are so lucky to be living 20 years from now.

TheNewAnon135246

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฿uy ฿itcoin

I'd love to see this happening but I really doubt it. $5,000 is do-able but $500,000 is likely to ever happen.

JayJuanGee

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Self-Custody is a right. Say no to"Non-custodial"

Quote from: slaveforanunnak1 on August 01, 2014, 02:48:03 PM

Quote from: inBitweTrust on August 01, 2014, 08:21:08 AM

Quote from: BurtW on August 01, 2014, 08:12:42 AM

The power consumption over the next 50 years is harder to predict than the price. There are many factors simplified above that could change.

You are correct for acknowledging the many known unknowns and potential unknown unknowns, thus I reject this one comment:

Quote from: BurtW on August 01, 2014, 08:12:42 AM

So, in order to keep our power consumption under about 2% of world wide power production, we cannot/do not want the price to get to $500,000 before era 6, which is about 2033 or so.

There definitely are physical restrictions with todays technology on the market cap of bitcoin but all of that can change overnight....
Printable solar cells with ASIC's? ASIC space heaters?

That's exactly what i was thinking! Let bitcoin be the engine behind solar cell technology! those Obama hand-outs didn't do shit! Thanks obama!

Yeah... must have been Obama... fuck!!!!!

NOT

Blaming Obama seems to be way too simple of an explanation for anything government related, and blaming him regarding a solar cell company... What? Huh

. (now blaming him for a bad joke or putting his pants on backwards may be another story.. Cheesy

). Regarding governmental issues, there are institutions and there are a variety of forces out there... causing and effecting... besides some simple blame-Obama scenario. Roll Eyes

BurtW

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Quote from: Prez on August 02, 2014, 11:45:25 AM

Quote from: BurtW on August 02, 2014, 11:39:20 AM

I won't pay $50.00 for his book but I would pay $0.50 if we can find 100 others willing to split the cost with me.

.50 is still to much, lets get it for free!

Send me a copy if you get it. Thanks.

Or, better yet, let's just post it somewhere and post the link here so everyone can read it.

Prez

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Quote from: BurtW on August 02, 2014, 11:39:20 AM

I won't pay $50.00 for his book but I would pay $0.50 if we can find 100 others willing to split the cost with me.

.50 is still to much, lets get it for free!

BurtW

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I won't pay $50.00 for his book but I would pay $0.50 if we can find 100 others willing to split the cost with me.

BurtW

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All paid signature campaigns should be banned.

Quote from: eid on August 02, 2014, 11:31:37 AM

Quote from: ?? on ??

The math was ripped off from Dr Sol Adoni's bitcoin book

No need to complain since the OP was quoting (and gave credit to) your sock-puppet "domainbrokers".

I think the "math" ripped off was the "math" supporting $500,000/BTC - not the actual math I used to derive the estimated power consumption of the Bitcoin Network.

And, as you said, the "math" supporting $500,000/BTC wasn't even ripped off anyway as full sock puppet credit was given in the OP.

eid

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Quote from: ?? on ??

The math was ripped off from Dr Sol Adoni's bitcoin book

No need to complain since the OP was quoting (and gave credit to) your sock-puppet "domainbrokers".

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: ?? on ??

The math was ripped off from Dr Sol Adoni's bitcoin book

GTFOH please.

The math was created by Burt.

Sol Adoni, please find another forum to troll/solicit/scam.

teodor87

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Man is King!

Yakamoto

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bananaControl

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Decentralize All The Things!

$500,000 per bitcoin?

That's nowhere near enough man - this is much better:

http://www.bitcoindigest.com/reviews/maximum-bitcoin-price-how-high-can-bitcoin-go/

$3 Million! Now we're talking!

teodor87

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efreeti

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Quote from: Anders on August 02, 2014, 08:45:09 AM

I have felt a little envy of those who have invested a lot in Bitcoin early. And if one bitcoin would be worth $500,000 then many people may feel bad because they didn't or couldn't invest early. I have changed my mind about that and would be interested in having Bitcoin become huge even if I myself hadn't invested in Bitcoin. I'm curious to find out if Bitcoin is the new mammal that will survive while the dinosaur fiat currencies die out.

Many holders are throwing out a big number because they only own 1-3 coins.

It is unlikely that bitcoin can reach that high.

Anders

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I have felt a little envy of those who have invested a lot in Bitcoin early. And if one bitcoin would be worth $500,000 then many people may feel bad because they didn't or couldn't invest early. I have changed my mind about that and would be interested in having Bitcoin become huge even if I myself hadn't invested in Bitcoin. I'm curious to find out if Bitcoin is the new mammal that will survive while the dinosaur fiat currencies die out.

BurtW

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Quote from: ?? on ??

The math was ripped off from Dr Sol Adoni's bitcoin book

http://www.amazon.com/gp/aw/d/B00M7DM6I2/ref=redir_mdp_mobile

His book is way less money on his site

www.bitcoinalgorithm.com

Oh bitcoin is a cia project

Nakamoto means central or middle

Satoshi means intellegence

Nakamoto satoshi

Central intelligence

So you need to refer to your bitcoin as

AdoniCIACOIN

You and your dozens of alts are comic idiots. Sol Adoni must translate to "drooling mental case"

BurtW

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Quote from: jgragons on August 02, 2014, 05:44:59 AM

ok, 700,000 BTC were stolen from MTGox. So are they actually spendable by the hacker or are they now just lost to the world. I can understand wallets being encrypted, but why aren't individual BTC encrypted with the owners private key so that a stolen BTC is worthless unless the owner unencrypts it first.

That is how it works. Nobody can steal your BTC unless they get your private key so they can "decrypt" it so they can spend it. If you keep your private keys safe then your BTC are safe.

TYT

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Quote from: ?? on ??

Quote from: runam0k on August 01, 2014, 08:03:45 AM

Quote from: BurtW on August 01, 2014, 07:56:52 AM

So, in order to keep our power consumption under about 2% of world wide power production, we cannot/do not want the price to get to $500,000 before era 6, which is about 2033 or so.

$500k in 2033? I'll take that. I can be patient. Grin

me too lol, imo 100k before 2020.

Bitcoin probably wont even be around by that time. Something similar but improved will have probably taken over.

cryptworld

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I like that price
but I don't see it a possible price

Beyonce

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Surfbort.

Quote from: romerun on August 02, 2014, 05:32:38 AM

To stick with reality, 50k per coin is the sane boundary, beyond that, bitcoin marketcap would be 1T+ where the government territory is. Although it's possible, but I can't really imagine what the world would be when that happens.

What do you mean by the bolded part? Huh

Topic: $500,000 per Bitcoin, baby. The math behind it. - page 13. (Read 23674 times)