Topic: Bitcoins's fate, soon to takeover the US economy (Read 2306 times)

When I was four my Mom gave me a poster for my wall.  It read, "Put your brain in gear before your mouth in motion" and had a motorcycle on it.  I never forgot that lesson.  Perhaps more appropriate in 2013 would be, "Read, learn, listen, and form opinions based on facts and data before posting more bullshit to the forum.".

I'd like to make a request for a new button. it's called "Not Before My First Cup of Coffee" and would appear under the user like the ignore button, but when click posts from this user won't show up until I've had my first cup of coffee!

Good Morning!

I agree with you Dank.
Everything in the universe is possible once we free our minds of greed and doubt.

i don´t think it will be 'just another'. the others are monetized already. bitcoin isn't.

and no, it´s not a gunpoint towards revolution. it´s a very entertaining purchasable self fullfilling prophecy... 

No, I will have to spend my bitcoins by doing that

@600watt: I feel like someone pointing a gun at my head and saying:"Revolution or die!"

Something mediocre can happen, like, bitcoin becomes just another E-currency, like ukash, okpay, LR, etc? I think it will survive as long as miners can justify the investment, and the difficulty adjustment mechanism probably make sure that the network can remain self-sufficient within a very wide price range.

Yeah, I think oakpacific needs to buy himself some quality weed while it still is available..

well, and isn´t that realy entertaining? we are either going to see a giant growth in value or a giant bubble. or both. again. with some part of your personal wealth stored in btc right now you might just lose this investment. but if you don´t lose, you will win. and the gain will be so breathtaking, that it is very rational to risk some of your wealth right now. sooner or later everyone will come to this conclusion. the ones that did it sooner will profit from the ones that did it later. if one billion parents answer the question: is it reasonable to buy my kid 1000mbtc (or a fraction of it in future higher prices) so this could pay education in a decade or two ? with "yes" than the monetization of btc will explode. why would the parents answer yes? only if they see it rising like it actually did since it was created. everyone with internet access can participate, and will sooner or later. it will be like a value gravity, that sucks in every other commodity.
and in the case this is all nonsense, and it will die soon, then there is the next crypto-currency waiting. there is no way around crypto anymore. 

Well, what things will end up like in the real world could be anything between the most optimistic/pessimistic visions.

Outline a scenario, where the following statement would not hold true:

"At any point less than $1 million per BTC, in current dollars, enough of the liquid wealth of the world is seeking to buy into bitcoins, to effect a price rise, and thus self-fulfilling the prophecy."




Remember, the ones who have fiat, silver, gold, land, services to offer, etc. do have a YES-vote on bitcoin's price. The only ones who possess the NO-vote in their ballot are the ones who hold bitcoins. We number probably something between a million and 5 million now. You and me cannot do much (except to sell all our bitcoins), when the world lines up to buy them.

When we have 50 million early adapters, not too far in the future from now, bitcoin will enter into bubble territory as its price has risen faster than its adoption, and it starts to be bounded by the finite size of the Earth, whereas the new adopters mistakenly think they are still early adopters (considering that 99% of the world is not in, that is their reasoning), buy in blindly and with a very short time frame, do not understand the math even if I tell it in highschool terms, think that bitcoin goes to the moon (which it doesn't literally do; its real long-term value is bounded), and lose most of their money to the 1% of us.

Then we need to build a new world on that. I wonder what happens to the carrier fleets, will they be converted to 24/7 caribbean cruise ships or what... 

Yeah, that guy's consciousness is expanding, alright.

U serious?

I think you are right. I have some analysis about the timeframe in my diary. Nobody is after killing you (or me), though. That would not accomplish anything for "them", since the consciousness is spreading all over the world.

Bitcoin economy can only grow with a certain speed though. This speed is fast but it does not exceed 100%/week. Every time we crossed that, it popped and reverted to some previous exp. trendline.

You can gauge the sentiment by following bitcoin street price (eg. localbitcoins.com). When it exceeds $300k, the early adopter phase ends as 0.5-1% of the world is already in. It may go on and end up higher in an epic bubble. The ones that said 2013 is a bubble, will probably end up right. But the pop will be only in $millions.

At that point the price does not matter, but it acts as a testimony to the ones who did not buy in even though they had a chance. Their fortunes will be valued in millibitcoins.

I close my business today. It cannot be stopped any more. The fact that OP is written 10 days ago, indicates to me that the consciousness is expanding at a rate which is higher than the appreciation of the bitcoin price. (In 10 days bitcoin is up <100%, yet number of in-the-know people has gone up by 500% or more).

Could be an extra week or two.

Pay back that money you stole from Squall, dick.

...and you call yourself Jesus.  

You mean besides all of it?

Funny how he comes back 7 hours later wondering what he wrote. I'd say I was spot on with that diagnosis.

 

What part didn't make sense?

Looks like SR is still doing business despite this volatility.

You need to lay off the acid OP.

lol