BItcoin: The path to $10,000,000 ten million dollars per coin - page 15.

patroncito

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Quote from: DarkDays on November 20, 2019, 02:43:23 PM

You didn't really provide any justification why Bitcoin would go to more than $10 million per coin, nor why the state-backed cryptocurrencies would fail.

Surely, most countries have a fiat currency that is essentially based on debt. But it is not outside of the realm of possibility that all world countries would simply forgive eachothers debts to end the issue.

Likewise, a country could simply produce its own digital currency that is not pegged to its fiat currency, such that it would be a true rival to Bitcoin. A state-backed cryptocurrency like this would almost certainly surpass bitcoin, at least for the short term.

......not in the long term...im sorry

Gyfts

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The only way 10 million per coin is when mainstream adoption meets limited supply. As of right now, we have mined upwards of 85% of Bitcoins so the limited supply portion exists. Only part left is mainstream adoption and that does not come easy. You are looking to have the same amount of transactions as credit card processing companies for Bitcoin to become ten million per coin.

DarkDays

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You didn't really provide any justification why Bitcoin would go to more than $10 million per coin, nor why the state-backed cryptocurrencies would fail.

Surely, most countries have a fiat currency that is essentially based on debt. But it is not outside of the realm of possibility that all world countries would simply forgive eachothers debts to end the issue.

Likewise, a country could simply produce its own digital currency that is not pegged to its fiat currency, such that it would be a true rival to Bitcoin. A state-backed cryptocurrency like this would almost certainly surpass bitcoin, at least for the short term.

patroncito

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Quote from: patroncito on November 20, 2019, 02:31:11 PM

The point here is that Bitcoin is the best performing asset in the last 10 years and is 21 million percent up from its creation.

The Point is, anyone that got in early made a lot of money.
Early has been over for years,
2017 the bubble burst and there are no signs of returning to even 20K much less the nonsense you made up.
Odds are just as good bitcoin dies as continues on.

And you need to stop making promises of rich$ that you can't backup.

Then short it....do you think is going to die short it...If you are so sure that bitcoin will die then short it. Would you guarantee everyone here that bitcoin is dead?. post your short trade and ride it all the way up...dumbass

patroncito

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The point here is that Bitcoin is the best performing asset in the last 10 years and is 21 million percent up from its creation.

patroncito

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Quote from: ?? on ??

Quote from: patroncito on November 20, 2019, 02:03:41 PM

Quote from: ?? on ??

Quote from: patroncito on November 20, 2019, 01:52:41 PM

Quote from: ?? on ??

Quote from: patroncito on November 20, 2019, 01:43:43 PM

Quote from: ?? on ??

Quote from: patroncito on November 20, 2019, 01:22:06 PM

Ramblings of a nutjob.

You seem to lose coherency with every post.

But the gist is ,
You Promise People Bitcoin will make them rich.
But you won't backup your promise with any guarantee.

Just another snake oil salesman, that needs to pull more suckers in , so you can cash out to fiat.

its astonishing that there is a troll like this in every single BTC forum. Your arguments lost value since you said that the real value is in FIAT. At the end of the day the global debt problem will burst and Bitcoin will be the only safe asset to exchange for goods and services. The current debt situation in the US, china and EU in unsustainalble. They are printing, printing and printing money out of nothing with no limit. Venezuela, zimbabue and Argentina are just a small replica on what will happen globally with the FIAT money.

Dufus , the Governments can seize your bitcoins and paid off their debt,
which returns them to solvency and kills bitcoins.
Bitcoin has no army to defend you.

ahahahahahahhahaah HEY you have no clue what the hell you are talking about, bitcoin can~~not~~ be confiscated nor sensored. It is impossible. Have any other baseless or clueless argument? Huh

https://www.theblockcrypto.com/genesis/2944/analysis-the-u-s-has-seized-nearly-200000-bitcoins-to-date-global-confiscations-are-up-to-453000

Quote

Analysis: The U.S. has seized nearly 200,000 bitcoins to date, global confiscations are up to 453,000

   The total amount of seized or confiscated bitcoins is now nearly 453,000,
   about 2.6% of the total circulating supply
   85.6% of that amount is coming from just two cases — Silk Road and SELEC
   The U.S. government currently owns at least 4,100 BTC but likely not more than 10,000 BTC
   Seizures in the U.S. total approximately 198,000 bitcoins from at least 100 different federal criminal, civil, and administrative cases
   The U.S. sold the majority of seized bitcoins for $151 million. On average, the government sold each seized bitcoin for $780

You are so stupid, I am starting to think you are windfury.

When someone run out of valid arguments start to insult. The only stupid individual who don't know how Bitcoin works is you.

" 85.6% of that amount is coming from just two cases — Silk Road and SELEC''

Good luck trying to seize billions of private keys distributed worldwide. See who is the stupid moron? Huh

The Stupid one would be you.

After they lock your ass up for a year, the majority gives up their private keys.
If you think , you'll hold your private key to the grave, good for you, but the majority won't.

stop talking trash. you are now talking about torture and dictatorship.....by the way...is there a jail for 5 billion people??? ahahahahahahah you crazy ass. This was my last answer for you as I cant have an argument with some crazy ass who think that could arrest 5 billion people worldwide just to take their bitcoins.....go away. bye

Pearls Before Swine

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Quote from: patroncito on November 19, 2019, 09:17:12 PM

Bitcoin is designed to be more scarce every single day while the population is almost required to increase its demand.

Neither one of those things is true.

Bitcoin getting more scarce by the day? How do you figure that? I don't know if you're thinking about lost coins or something like that, but I'm not sure how exactly the supply of bitcoin is decreasing while mining is still going on. It's a relatively scarce asset, true, but it isn't as tho it's disappearing. At least not at a fast rate.

On the demand side, I wouldn't count on increasing population to drive demand necessarily but I do see your point and know what you mean. But it doesn't matter what the population growth rate is if people stop being interested in bitcoin. That isn't happening right now, but it *could*. Thus I don't think a price as crazy as $10 million is going to happen any time soon. It might happen eventually, but I doubt it's going to be in my lifetime at least.

patroncito

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Quote from: ?? on ??

Quote from: patroncito on November 20, 2019, 01:52:41 PM

Quote from: ?? on ??

Quote from: patroncito on November 20, 2019, 01:43:43 PM

Quote from: ?? on ??

Quote from: patroncito on November 20, 2019, 01:22:06 PM

Ramblings of a nutjob.

You seem to lose coherency with every post.

But the gist is ,
You Promise People Bitcoin will make them rich.
But you won't backup your promise with any guarantee.

Just another snake oil salesman, that needs to pull more suckers in , so you can cash out to fiat.

its astonishing that there is a troll like this in every single BTC forum. Your arguments lost value since you said that the real value is in FIAT. At the end of the day the global debt problem will burst and Bitcoin will be the only safe asset to exchange for goods and services. The current debt situation in the US, china and EU in unsustainalble. They are printing, printing and printing money out of nothing with no limit. Venezuela, zimbabue and Argentina are just a small replica on what will happen globally with the FIAT money.

Dufus , the Governments can seize your bitcoins and paid off their debt,
which returns them to solvency and kills bitcoins.
Bitcoin has no army to defend you.

ahahahahahahhahaah HEY you have no clue what the hell you are talking about, bitcoin can~~not~~ be confiscated nor sensored. It is impossible. Have any other baseless or clueless argument? Huh

https://www.theblockcrypto.com/genesis/2944/analysis-the-u-s-has-seized-nearly-200000-bitcoins-to-date-global-confiscations-are-up-to-453000

Quote

Analysis: The U.S. has seized nearly 200,000 bitcoins to date, global confiscations are up to 453,000

   The total amount of seized or confiscated bitcoins is now nearly 453,000,
   about 2.6% of the total circulating supply
   85.6% of that amount is coming from just two cases — Silk Road and SELEC
   The U.S. government currently owns at least 4,100 BTC but likely not more than 10,000 BTC
   Seizures in the U.S. total approximately 198,000 bitcoins from at least 100 different federal criminal, civil, and administrative cases
   The U.S. sold the majority of seized bitcoins for $151 million. On average, the government sold each seized bitcoin for $780

You are so stupid, I am starting to think you are windfury.

When someone run out of valid arguments start to insult. The only stupid individual who don't know how Bitcoin works is you.

" 85.6% of that amount is coming from just two cases — Silk Road and SELEC''

Good luck trying to seize billions of private keys distributed worldwide. See who is the stupid moron? Huh

jets567

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Quote from: patroncito on November 19, 2019, 09:17:12 PM

Bitcoin should hit that price in the next 10 years and there is nothing that could stop it.

I like your positive thinking towards Bitcoin but with the current situation, I don't think that 10 years is enough to reach $10 Million per Bitcoin although anything is possible to happen in this space. One of the things that should happen is that the majority of world's population must learn about Bitcoin and know how to use it, in order to increase the demand and achieve the $10 Million mark.

patroncito

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Quote from: ?? on ??

Quote from: patroncito on November 20, 2019, 01:43:43 PM

Quote from: ?? on ??

Quote from: patroncito on November 20, 2019, 01:22:06 PM

Ramblings of a nutjob.

You seem to lose coherency with every post.

But the gist is ,
You Promise People Bitcoin will make them rich.
But you won't backup your promise with any guarantee.

Just another snake oil salesman, that needs to pull more suckers in , so you can cash out to fiat.

its astonishing that there is a troll like this in every single BTC forum. Your arguments lost value since you said that the real value is in FIAT. At the end of the day the global debt problem will burst and Bitcoin will be the only safe asset to exchange for goods and services. The current debt situation in the US, china and EU in unsustainalble. They are printing, printing and printing money out of nothing with no limit. Venezuela, zimbabue and Argentina are just a small replica on what will happen globally with the FIAT money.

Dufus , the Governments can seize your bitcoins and paid off their debt,
which returns them to solvency and kills bitcoins.
Bitcoin has no army to defend you.

ahahahahahahhahaah HEY you have no clue what the hell you are talking about, bitcoin cannot be confiscated nor sensored. It is impossible. Have any other baseless or clueless argument? Huh

patroncito

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Quote from: ?? on ??

Quote from: patroncito on November 20, 2019, 01:22:06 PM

Ramblings of a nutjob.

You seem to lose coherency with every post.

But the gist is ,
You Promise People Bitcoin will make them rich.
But you won't backup your promise with any guarantee.

Just another snake oil salesman, that needs to pull more suckers in , so you can cash out to fiat.

its astonishing that there is a troll like this in every single BTC forum. Your arguments lost value since you said that the real value is in FIAT. At the end of the day the global debt problem will burst and Bitcoin will be the only safe asset to exchange for goods and services. The current debt situation in the US, china and EU in unsustainalble. They are printing, printing and printing money out of nothing with no limit. Venezuela, zimbabue and Argentina are just a small replica on what will happen globally with the FIAT money.

patroncito

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Quote from: franky1 on November 20, 2019, 01:24:22 PM

Quote from: GideonGono on November 20, 2019, 01:09:19 PM

I strongly doubt that in ten years it would happen. Let’s be realistic. Bitcoin is still growing prematurely and the popularity of Bitcoin is not that much i.e. based on how many people knew about it. If I would go strolling and would ask a random stranger if they knew or heard about Bitcoin then most of the time they would answer no.

ask that person if they know of, 'chip and pin' debit card.
ask that person if they know of, 'applepay'

alot more people would have heard of those, even if they have been a thing for less time
bitcoins issue is not that media is not talking about it. its that btcnetwork innovation has ben stifled and so merchants are prefering not to use it thus people dont se it as useful, thus not care or desire to remember it if they hear it in the media

just thinking all that 'mainstreaming' and 'adoption' requires is for people to hear about it by blasting it into new/tv/movies wont get the 'adoption' we need to keep bitcoin relevant and keep miners interested.. we should be pushing the devs to ensure they keep the btc network useful and get real world merchants to accept it due to it being practical to use. and criticise devs if they prefer to promote other networks/payment solution that are not the real btc network

The shift from fiat to Bitcoin globally will be automatic over time. Please will hold their money in something that have real value. Bitcoin, gold and silver, but bitcoin is the best choice.

franky1

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Quote from: GideonGono on November 20, 2019, 01:09:19 PM

I strongly doubt that in ten years it would happen. Let’s be realistic. Bitcoin is still growing prematurely and the popularity of Bitcoin is not that much i.e. based on how many people knew about it. If I would go strolling and would ask a random stranger if they knew or heard about Bitcoin then most of the time they would answer no.

ask that person if they know of, 'chip and pin' debit card.
ask that person if they know of, 'applepay'

alot more people would have heard of those, even if they have been a thing for less time
bitcoins issue is not that media is not talking about it. its that btcnetwork innovation has ben stifled and so merchants are prefering not to use it thus people dont se it as useful, thus not care or desire to remember it if they hear it in the media

just thinking all that 'mainstreaming' and 'adoption' requires is for people to hear about it by blasting it into new/tv/movies wont get the 'adoption' we need to keep bitcoin relevant and keep miners interested.. we should be pushing the devs to ensure they keep the btc network useful and get real world merchants to accept it due to it being practical to use. and criticise devs if they prefer to promote other networks/payment solution that are not the real btc network

patroncito

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Quote from: ?? on ??

Quote from: patroncito on November 20, 2019, 12:55:34 PM

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Quote from: patroncito on November 20, 2019, 12:02:39 PM

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Quote from: arbiter5 on November 20, 2019, 08:20:11 AM

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They have been saying the same thing for years now.

Bitcoin bubble burst at 20K, the ride is all downhill from there.

Little secret , no one really needs bitcoin.
Which should be apparent from the way the price keep dropping.
It is a slow painful death, but it is still a death.

Tell me. Besides promoting your shitty signature, why are you even wasting your time here in a Bitcoin forum? Knowing that you're unable to think rationally in the first place. You're a worse bitcoin critic than Nouriel Roubini.

There is not one thing that bitcoin does , that is required by anyone.
Their are alternate means with greater stability and better price points, both in crypto and outside of it.

You foolishly believe bitcoin will make you rich, so you promote it,
your promotion like your get rich nonsensical belief are misplaced.

The Bitcoin Bubble burst at 20K, tether manipulation of the markets ran it's course, Grow up.

FYI:
Having people like you mindlessly promote bitcoin,
claiming it will make people rich, and then the most needy among us believe it and sell their homes, and end up homeless and broke.
If I can prevent that from happening to one person and their family, it was worth my time.

Bitcoin is a product/service , it is not a guarantee of riches,
Past Performance is Never a Guarantee of Future Profits.

I am sorry for you, but BTC is the only way to go. It is about freedom, and true value. I am here just to tell people the truth

Fine, Put it in Writing and Guarantee any new Investor , that since you are so certain bitcoin will go no were but up,
that you will cover any losses in price they suffer.

Their is a guy here that purchased 2 bitcoins at $18.5 K, why don't you offer to buy his 2 bitcoins at that price.

Go ahead make that promise to all of the people that you are lying too.

Why would someone take a "loss" after buying Bitcoin? You are thinking in US dollars terms only. There wont be such thing like a "loss" or a "profit". Bitcoin hodlers would never sell their coin for US dollars again once all fiat have become worthless. Being rich or poor will be measured in the amount of BTC you have by then. Nobody would change the future for the past.

Notice , you chicken out. Cheesy

For some Bitcoin has done nothing , but lost them money, in fiat where it matters.

ahahahahaahahhahaha do you really think that fiat is better than Bitcoin? Men, you're insane. Global debt is around 255 trillion and you think that fiat is better than bitcoin? Huh

?? central banks are stealing your purchasing power every day and you think that fiat is better than Bitcoin?.....dude.....ahahahahahah.

franky1

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Quote from: franky1 on November 20, 2019, 12:54:12 PM

whilst miners still mine and at a cheapest cost to mine being say above $8k. and those not able to get that cheap mining cost are willing to buy at $8100
those miners wont sell for less than cost and those buying will buy for more, causing a price rise

so if mining costs go up the baseline 'value' goes up(periodic low)
as for the speculative price(periodic high). no one can predict when or how much it will be. but as long as their is baseline value that increases then the price will increase.

And how many mining firms have gone bankrupt , because at the end of the day,

No one really has to buy bitcoins, as they can get by without it.

Let's Say , a Company makes a Car out of solid gold worth $1 million dollars.

People need a car and some people use gold, but no one needs a car made out of gold.
So no one buy it, no matter how scarce the supply.

Bitcoin lost it's niche years ago, and miners will just go bankrupt, there are no guarantees the price can keep going up.
And the past 2 years show a downward trend , ie: the price bubble popped.

im not guaranteeing or suggesting bitcoins value would increase to say 100million loaves of bread.
im just pointing out that while miners still mine and create the baseline value support. that bitcoin can grow

im also pointing out that again on a bread value comparison bitcoin might get a lower bread value of under 100m loaves and higher than 8000 loaves. no one can tell how many loaves it would buy. but that loaf value might be equivalent to $100m due to fiat inflation

also im just pointing out that over the last 2 years the value has been on a 2 year flat-upward trend.
you seem to be standing at the top of the $20k mountain looking down rather than standing at ground level looking up

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Quote from: patroncito on November 19, 2019, 09:17:12 PM

Bitcoin is designed to be more scarce every single day while the population is almost required to increase its demand. Why? Because people will have to sell their failed fiduciary currencies per Bitcoin. The current financial system failed already and people will realize that Bitcoin is the only system to reset everything. Governments will try to create their centralized cryptocurrencies that will fail like the fiat due to hacks and the fact that people will prefer to use Bitcoin. Bitcoin is a blackhole that is swallowing every single fiat bill. 10 million dollars per coin is probably too conservative. People who dont own Bitcoin now will have to own in it later. Those who are acummulating BTC right now will be the richest people in the world. Bitcoin should hit that price in the next 10 years and there is nothing that could stop it.

I strongly doubt that in ten years it would happen. Let’s be realistic. Bitcoin is still growing prematurely and the popularity of Bitcoin is not that much i.e. based on how many people knew about it. If I would go strolling and would ask a random stranger if they knew or heard about Bitcoin then most of the time they would answer no. It might happen that the price of Bitcoin would reach that high but no that too soon as you had been claiming. I would consider it as an exaggeration. Bitcoin still has a long path to go in order to reach that kind of level.

franky1

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bitcoin is already worth more than $100m....
.. oh did you not mean zimbabwee dollars

anyway
bitcoin 'could' be worth $100m US.. but as zimbabwee as proven. so could a loaf of bread be worth that, when/if US fiat goes into super inflation.

i personally cant see bitcoin buying me 100million loaves of bread. in my lifetime
(if bread were $1 right now)
but its more plausible to think of it as $100m in terms of $$ due to a super inflation
where by it converts to buy me more than 8000+ loves of bread which are valued as $100m

patroncito

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Quote from: franky1 on November 20, 2019, 12:54:12 PM

whilst miners still mine and at a cheapest cost to mine being say above $8k. and those not able to get that cheap mining cost are willing to buy at $8100
those miners wont sell for less than cost and those buying will buy for more, causing a price rise

so if mining costs go up the baseline 'value' goes up(periodic low)
as for the speculative price(periodic high). no one can predict when or how much it will be. but as long as their is baseline value that increases then the price will increase.

And how many mining firms have gone bankrupt , because at the end of the day,

No one really has to buy bitcoins, as they can get by without it.

Let's Say , a Company makes a Car out of solid gold worth $1 million dollars.

People need a car and some people use gold, but no one needs a car made out of gold.
So no one buy it, no matter how scarce the supply.

Bitcoin lost it's niche years ago, and miners will just go bankrupt, there are no guarantees the price can keep going up.
And the past 2 years show a downward trend , ie: the price bubble popped.

Ok soo...do you think that your shitty coin Zeit is better than Bitcoin??? Would you guarantee people in this forum that "zeit" is a better buy than bitcoin?

patroncito

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People wont have to sell their bitcoins for fiat anymore. They will buy products and services with bitcoin directly.

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Quote from: odolvlobo on November 20, 2019, 03:03:04 AM

$10,000,000 per coin means a total supply of $210 trillion. The base money of all the world's currencies plus the value of all the gold in the world doesn't even come close. So, even if Bitcoin replaces all the money and all the gold, it won't be worth $10,000,000 per coin.

bitcoins 'market cap' is not a representation of dollars hoarded in bank accounts to represent bitcoin value and back up every coin

bitcoins market cap is just math of the price of one coin sold.. multiplied
it has nothing to do with how much base money is allocated/backed by bitcoin

for instance i can make a coin with 50trillion premine and sell just 1 coin for $5 .. yep total funds involved $5....
and that creates a market cap of $250 trillion

Topic: BItcoin: The path to $10,000,000 ten million dollars per coin - page 15. (Read 3118 times)