Be that guy - page 3. | Bitcointalksearch.org

fa

full member

Activity: 140

Merit: 100

Quote from: Robert Paulson on October 29, 2014, 05:57:43 PM

anyone who thinks bitcoin has already hit its full potential is delusional.
the market for bitcoin is the entire world, how many people have them? almost none.
anyone who is lucky enough to understand bitcoin today and be in a position to buy it is going to be extremely rich in 20 years.

the current paper money regime is not going to last for much longer, its been collapsing for the past 14 years and is now on life support in the form of permanent zero interest rates.
the only alternatives are precious metals and bitcoin.
i'd like to see you buy something on ebay with gold, bitcoin is the only option for honest money in the modern world.

Yes, this five years just marks the beginning of new era in human history.
Fluctuation is expected. R.I.P. banks.

Robert Paulson

sr. member

Activity: 448

Merit: 250

anyone who thinks bitcoin has already hit its full potential is delusional.
the market for bitcoin is the entire world, how many people have them? almost none.
anyone who is lucky enough to understand bitcoin today and be in a position to buy it is going to be extremely rich in 20 years.

the current paper money regime is not going to last for much longer, its been collapsing for the past 14 years and is now on life support in the form of permanent zero interest rates.
the only alternatives are precious metals and bitcoin.
i'd like to see you buy something on ebay with gold, bitcoin is the only option for honest money in the modern world.

BillyBobZorton

legendary

Activity: 1204

Merit: 1028

To be that guy, you would need a timemachine to go back to 2009.
How in hell can one invest as hard as back in the day now, unless you are already well off, if you want similar gains? (you are talking millonaire here).

jayce

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Pie Baking Contest: https://tinyurl.com/2s3z6dee

Quote from: Wilhelm on October 29, 2014, 02:55:54 AM

Thanks OP I woke up this morning, saw your thread and though .... darn I did some mining in 2009 for a few days ... Wink

damn that some motivation right there

DieJohnny

legendary

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This market will stagnate for months, maybe years, so pay attention to something else, like maybe decide to check Bitcoin prices when the Cubs win the world series.

bigtimespaghetti

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bigtimespaghetti.com

The parabolics we saw on BTC in 2013 were a very rare event in terms of markets.

Being that guy gets harder and harder when a lot of other people are trying to be that guy too.

Elwar

legendary

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Viva Ut Vivas

Quote from: Gine.Unnta on October 29, 2014, 03:09:04 AM

Such a thing would never happen a second time

Ya...it jumped up to $32 and crashed down under $2. No way it would go back up over $32.

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Quote from: jaberwock on October 29, 2014, 05:26:14 AM

You can also wake up and find that another coin or version of BTC took over, and your coins are worth nothing.

Or that Bitcoin is overregulated and they are worth cents, and hard to sell and buy.

Bitcoin went from nothing to something, going from something into a big stuff is way harder

The United Nations would not allow any of those bad things to happen.

jaberwock

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You can also wake up and find that another coin or version of BTC took over, and your coins are worth nothing.

Or that Bitcoin is overregulated and they are worth cents, and hard to sell and buy.

Bitcoin went from nothing to something, going from something into a big stuff is way harder

ravenjt

full member

Activity: 215

Merit: 100

That's the thing. You only get the massive increases in value when investors realise that the invention has huge potential in the future. That happened for BTC in 2012-3, and now all that is happening is those dreams are getting beaten down by the reality of slow consumer adoption.

The only way to get a new spike is for a new realisation of possibility, currently unknown. Some pick up in adoption does not count, as a pick up in adoption was already factored into the dreams of investors in 2012-3. It needs to be something truly new.

The technology clearly has potential, but there doesn't seem to be anything new regarding BTC as a commodity. That to me suggests that any explosion of value is likely to occur elsewhere, such as with a new crypto business venture (not necessarily using BTC) or adoption of a new, more effective, crypto-currency.

Perhaps you have a better chance of getting rich without doing much by buying into a crypto VC fund.

Gine.Unnta

newbie

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Such a thing would never happen a second time

Wilhelm

legendary

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Thanks OP I woke up this morning, saw your thread and though .... darn I did some mining in 2009 for a few days ... Wink

tss

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Quote from: ?? on ??

be your bag holder? no way

i would be willing to hold your bag if you like.

cbeast

donator

Activity: 1736

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Let's talk governance, lipstick, and pigs.

Quote from: ?? on ??

Quote from: cbeast on October 29, 2014, 12:22:30 AM

Hashrate is still climbing. If you can buy below cost, then what's the problem?

according to KNC, the mining cost of bitcoin is significantly below $400, i think it's around $170 per coin and they are trying hard to mine more and dump more

KNC 3T miner at 1710 Watts: $5995 (of cause the cost of manufacture is under $3000)
mine 1 bitcoin: 3.412 week, Power Cost: $98
let's say you mine 50 bitcoins and stop mining, cost per coin: $158

Few miners get that efficiency or have electricity that cheap. Their equipment gets more obsolete every day. A 100% markup is fine for seasonal retail, but I doubt miners are making such a gamble or wasting their talents on a one time shot at short term gains.

Neotox

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Free & Fast Neotox Escrow http://bit.ly/1OGVykp

Quote from: ?? on ??

according to KNC, the mining cost of bitcoin is significantly below $400, i think it's around $170 per coin and they are trying hard to mine more and dump more

KNC 3T miner at 1710 Watts: $5995 (of cause the cost of manufacture is under $3000)
mine 1 bitcoin: 3.412 week, Power Cost: $98
let's say you mine 50 bitcoins and stop mining, cost per coin: $158

use the mining calculator here
https://bitcoinwisdom.com/bitcoin/calculator
and you will find that you will not able to get your investment money back in a year or two
mining cost is much more then you written here
also difficulty is increasing

Garr255

legendary

Activity: 938

Merit: 1000

What's a GPU?

Quote from: Cluster2k on October 29, 2014, 01:18:09 AM

Ask the people who handed over their photo IDs to MtGox how well that went.

It went totally great for us Yanks until Dwolla froze all of the mtgox accounts Tongue

Cluster2k

legendary

Activity: 1692

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We've seen bitcoin's price collapse from $32 to just above $2 within 6 months, only to rocket to MtGox's fake $1200 a couple years later. Anything is possible I guess, but chances are anyone buying into bitcoin today is not going to become a millionaire by sleeping on their wallet. Too many people know about bitcoin already. We've tapped the greater fools in China and left them holding the bag.

Governments in numerous countries have become involved and now require photo ID collection by major exchanges just to cash out bitcoins. Ask the people who handed over their photo IDs to MtGox how well that went.

cbeast

donator

Activity: 1736

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Let's talk governance, lipstick, and pigs.

Hashrate is still climbing. If you can buy below cost, then what's the problem?

fa

full member

Activity: 140

Merit: 100

Quote from: DieJohnny on October 28, 2014, 01:52:29 PM

You know the guy I am talking about, there are so many of these guys that bought Bitcoin in 2009 or 2010, thousands of them. Then somehow they forgot about Bitcoin for a few years and then one day they woke up and were millionaires and were like holy shit i forgot about Bitcoins!

So you need to forget about Bitcoin for a few years, maybe two, maybe three. Then one day you will wake up and be like Shit, I am a Bitcoin millionaire.

Everyone will call you an early adopter that got lucky. You can tell amazing stories about how you recovered your coins from a printed wallet you found buried in your kid's treasure chest in the back yard. You will tell your kids and grand kids how you bought one of the first 13 million coins. They will write stories about your wisdom and patience.

Yes be that guy.

Well said. hoarding BTC for 5 years at least

ZfqkijEbAUrJjEPt

newbie

Activity: 1

Merit: 0

Quote from: MrBig on October 28, 2014, 02:31:49 PM

You could also be that guy who bought btc at $1200 and forgot about it, only to find that out lost three quarters of it's price later on.

Obviously he didn't forget about it for long enough.

Topic: Be that guy - page 3. (Read 4925 times)