Earning a large amount of BTC | Bitcointalksearch.org

DannyHamilton

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Quote from: Dabs on January 02, 2013, 10:11:13 PM

. . . the value of a single whole one bitcoin could be a thousand US dollars. Each.

That much, I could see, maybe in 10 to 20 years . . .

. . . It's $13 now. 2 years ago it was $5? It can't keep doubling every 2 years. (or can it?) . . .

If your prediction of 1000 USD in 10 years is going to come true, then it would have to:

Now 1 BTC = 13 USD
2 years 1 BTC = 26 USD
4 years 1 BTC = 52 USD
6 years 1 BTC = 104 USD
8 years 1 BTC = 208 USD
10 years 1 BTC = 416 USD
12 years 1 BTC = 832 USD (still less than 1000 USD).

Dabs

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The Concierge of Crypto

When a substantial portion of the world economy is into bitcoin, the value of a single whole one bitcoin could be a thousand US dollars. Each.

That much, I could see, maybe in 10 to 20 years. I don't know how it will be in the far more distant future. I mean, we can't keep on going appreciating in value at the rate it did in a linear fashion.

It's $13 now. 2 years ago it was $5? It can't keep doubling every 2 years. (or can it?)

Also depends on anything high profile that happens, like thefts, or large purchases, or some random 3rd world country government collapsing and it's citizens adopting bitcoin wholesale.

Third Way

full member

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Quote from: DannyHamilton on January 02, 2013, 12:50:15 PM

Quote from: Kuzcsenrok on January 01, 2013, 05:04:43 PM

Quote from: odolvlobo on January 01, 2013, 03:35:22 PM

Also keep in mind that just 2 years ago, 10 BTC was worth only pennies . . .

this, wish i woulda got into it earlier

Of course, if bitcoin ever makes it into mainstream use, you'll find that people are asking how anyone managed to acquire 0.01 BTC, and that they'd be happy if they could earn 0.0001 BTC. Others will comment on how "not that long ago" bitcoin was only 0.13 USD per 0.01 BTC and how they wish they had gotten into it earlier. You'll be one of those "early adopters" who are sitting on a wealth of bitcoin that others wish they could acquire.

This, is my fetish...

DannyHamilton

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Quote from: Kuzcsenrok on January 01, 2013, 05:04:43 PM

Quote from: odolvlobo on January 01, 2013, 03:35:22 PM

Also keep in mind that just 2 years ago, 10 BTC was worth only pennies . . .

this, wish i woulda got into it earlier

Of course, if bitcoin ever makes it into mainstream use, you'll find that people are asking how anyone managed to acquire 0.01 BTC, and that they'd be happy if they could earn 0.0001 BTC. Others will comment on how "not that long ago" bitcoin was only 0.13 USD per 0.01 BTC and how they wish they had gotten into it earlier. You'll be one of those "early adopters" who are sitting on a wealth of bitcoin that others wish they could acquire.

johnvolta

newbie

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So, this means BTC has appreciated over years!

Jeweller

newbie

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Quote from: SouthernComfort on January 01, 2013, 07:31:46 PM

The people who have lots of Bitcoins bought when they were selling for pennies on the dollar. There has been a few hundred Bitcoin millionairs from that.

I think that overstates the scale of things. The market cap of all bitcoins in existence right now is around $150M USD. And while we can't really know how many people posses what, it's definitely in the thousands to tens of thousands at least. So there were a few "bitcoin millionaires" made, but not very many.

SouthernComfort

newbie

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The people who have lots of Bitcoins bought when they were selling for pennies on the dollar. There has been a few hundred Bitcoin millionairs from that.

Skylineman

newbie

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I was thinking on az ASIC, and it's a really good ground to earn!

atomium

donator

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Study the past, if you would divine the future.

mining takes a lot of work and money, if you plan on mining you would have to dedicate yourself to make it worthwhile. but it will definitely be worth all the work.

collaghost

newbie

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Quote

I was under the impression mining isn't that useful any more

Look forward to bitcoin ASICs scheduled to come out in january. There is still almost half of the btc left to mine, it's nowhere as easy to get them as it was 2 years ago but you may want to give it a try.

Kuzcsenrok

newbie

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Quote from: odolvlobo on January 01, 2013, 03:35:22 PM

Also keep in mind that just 2 years ago, 10 BTC was worth only pennies. When the Casascius first started selling his coins, I bought a dozen and handed them out to friends.

this, wish i woulda got into it earlier

odolvlobo

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Also keep in mind that just 2 years ago, 10 BTC was worth only pennies. When the Casascius first started selling his coins, I bought a dozen and handed them out to friends.

weex

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I'd say just try to build a reputation for doing good work and hopefully you'll find clients who will pay you either in BTC or in USD that is easily convertible. So it's basically having skills, showing them, and building your rep. Good luck. I still love your mining in space pic. Why not sell signed and numbered prints?

odolvlobo

legendary

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Mining has become a smaller part of the economy. The amount of BTC bought on MtGox is far more than the amount mined. In addition to buying and mining BTC, people obtain it by selling things, investing, and performing services (oh, and begging and stealing, too).

ShittyBitcoinDrawer

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Hello everyone,

I am just curious as to how people earn such large amounts of BTC. I was under the impression mining isn't that useful any more, so is this BTC just USD turned into bitcoins? I even see large amounts of BTC bet on statoshi dice which makes me feel people have very large amounts of BTC. Are there a lot of botnets out there? I'd be happy if I got 10 BTC total earned ever. Over half way there! I am just interested in how people earn there BTC, or if it is just real money conversion. Am I missing something?

Topic: Earning a large amount of BTC (Read 1349 times)