Have people become wealthy before, like with bitcoin? - page 3.

ozycash

sr. member

Activity: 288

Merit: 250

Quote from: cuddaloreappu on June 05, 2014, 11:15:17 PM

If bitcoin becomes million dollars each, or litecoin goes for 500$ and dogecoin goes for 1$ the sheer number of fiat millionaires it could create in the world could be thousands..

Is this socially possible? yes lot of people have become lot wealthy with lots of bubbles in past, the dot com bubble is a classical example creating lot of millionaires.

So what happens to the world if millions of millionaires are created all of a sudden?

will governments and rich people who have a lot of influence over the world(like Bilderberg), allow that to happen?

you have to remember that when somebody gains money it means a lot will loose money to pay for that win!

cuddaloreappu

hero member

Activity: 756

Merit: 502

Quote from: Elwar on June 06, 2014, 12:36:24 PM

Quote from: cuddaloreappu on June 06, 2014, 12:24:00 PM

1. only 100 billion doge total
2. mining ends in 2014..

Then watch it go to moon

No, there is an infinite amount that will be created. Billions and billions every year.

So much forks.

So much inflation.

that is to keep the mining activity running..it is deflationary inflation.

also see when bitcoin could go to 50000+ and have a market ca of trillion dollars and more, it really makes some sense for dogecoin to have a market cap of 100 billion and a value of 1$ per coin

Beyonce

member

Activity: 86

Merit: 10

Surfbort.

Isnt this thread kind of silly? Many people became rich and many will follow.

Quote from: cuddaloreappu on June 06, 2014, 12:24:00 PM

Quote from: Elwar on June 06, 2014, 12:07:13 PM

Quote from: cuddaloreappu on June 05, 2014, 11:15:17 PM

If bitcoin becomes million dollars each, or litecoin goes for 500$ and dogecoin goes for 1$ the sheer number of fiat millionaires it could create in the world could be thousands..

dogecoin will never go for $1 each. Over 10 trillion dogecoins are mined daily.

The only thing to do with a dogecoin is give it away before it loses value...oh too late, someone just mined a few billion while you were thinking of how to get rid of it.

1. only 100 billion doge total
2. mining ends in 2014..

Then watch it go to moon

It will never go to the moon, though shibes are desperatly hoping it will.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: cuddaloreappu on June 06, 2014, 12:24:00 PM

1. only 100 billion doge total
2. mining ends in 2014..

Then watch it go to moon

No, there is an infinite amount that will be created. Billions and billions every year.

So much forks.

So much inflation.

cuddaloreappu

hero member

Activity: 756

Merit: 502

Quote from: Elwar on June 06, 2014, 12:07:13 PM

Quote from: cuddaloreappu on June 05, 2014, 11:15:17 PM

If bitcoin becomes million dollars each, or litecoin goes for 500$ and dogecoin goes for 1$ the sheer number of fiat millionaires it could create in the world could be thousands..

dogecoin will never go for $1 each. Over 10 trillion dogecoins are mined daily.

The only thing to do with a dogecoin is give it away before it loses value...oh too late, someone just mined a few billion while you were thinking of how to get rid of it.

1. only 100 billion doge total
2. mining ends in 2014..

Then watch it go to moon

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: cuddaloreappu on June 05, 2014, 11:15:17 PM

If bitcoin becomes million dollars each, or litecoin goes for 500$ and dogecoin goes for 1$ the sheer number of fiat millionaires it could create in the world could be thousands..

dogecoin will never go for $1 each. Over 10 trillion dogecoins are mined daily.

The only thing to do with a dogecoin is give it away before it loses value...oh too late, someone just mined a few billion while you were thinking of how to get rid of it.

bryant.coleman

legendary

Activity: 3752

Merit: 1217

Quote from: freebitcoins4u on June 06, 2014, 11:03:10 AM

if everyone is going to be millionaire then money value will drop down.

IMO, only those Bitcoiners with more than BTC25 with them will be having any chances of becoming a millionaire in the near future. And according to rpitella, there are only some 40,000 people with that many coins. Grin

https://bitcointalksearch.org/topic/distribution-of-bitcoin-wealth-by-owner-316297

Ron~Popeil

sr. member

Activity: 406

Merit: 250

Quote from: freebitcoins4u on June 06, 2014, 11:03:10 AM

if everyone is going to be millionaire then money value will drop down.

We are the early adapters. Our community is a very small percentage of the world population so not everyone will become rich. As the playing field levels wealth will inevitably move from early adapters to other people.

freebitcoins4u

hero member

Activity: 798

Merit: 500

if everyone is going to be millionaire then money value will drop down.

Ron~Popeil

sr. member

Activity: 406

Merit: 250

Quote from: s.mouse on June 06, 2014, 09:11:00 AM

I think becoming wealthy is what a lot of people here hope.

A lot of us will. Freedom and wealth are great incentives.

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

Quote from: s.mouse on June 06, 2014, 09:11:00 AM

I think becoming wealthy is what a lot of people here hope.

Hope?

It's not so much that we're getting rich, dear reader. It's that everyone else is getting poor.

s.mouse

member

Activity: 71

Merit: 10

I think becoming wealthy is what a lot of people here hope.

1wNn5JJ6gJAqhBtq9ezJmvoXGg9bvSsMD

bryant.coleman

legendary

Activity: 3752

Merit: 1217

Quote from: cuddaloreappu on June 05, 2014, 11:15:17 PM

So what happens to the world if millions of millionaires are created all of a sudden?

It has happened many times in the past. I will give you some examples.

1. In 1989, the DELL stock was going at $0.10. By 2000, it had increased to $55.1, which corresponds to some 550x increase.
2. Similarly, the MICROSOFT stock was going at $0.10 in 1987. By 1999, it had increased to $50.
3. The CISCO stock had increased to $64 in 1999, from just $0.08 in 1991.

JJB

full member

Activity: 131

Merit: 100

Quote from: FNG on June 06, 2014, 08:41:55 AM

I expect the Forbes 400 list to contain dozens of bitcoin-billionaires. The rest of the list is going to be pretty pissed off

I wonder if Satoshi will ever make it on there?

FNG

hero member

Activity: 588

Merit: 500

I expect the Forbes 400 list to contain dozens of bitcoin-billionaires. The rest of the list is going to be pretty pissed off

guybrushthreepwood

legendary

Activity: 1232

Merit: 1195

What a silly title. Of course people have become wealthy from bitcoin. Very much so. I'm sure there'll be a lot more wealth created in the future too. If mainstream adoption kicks off the price will surely follow.

ljudotina

legendary

Activity: 1260

Merit: 1029

Quote from: johnatan32 on June 06, 2014, 05:59:00 AM

Quote from: ljudotina on June 06, 2014, 05:27:42 AM

Quote from: cuddaloreappu on June 05, 2014, 11:15:17 PM

If bitcoin becomes million dollars each, or litecoin goes for 500$ and dogecoin goes for 1$ the sheer number of fiat millionaires it could create in the world could be thousands..

Is this socially possible? yes lot of people have become lot wealthy with lots of bubbles in past, the dot com bubble is a classical example creating lot of millionaires.

So what happens to the world if millions of millionaires are created all of a sudden?

will governments and rich people who have a lot of influence over the world(like Bilderberg), allow that to happen?

Dont forget that in that time, effective value of $ will fall. So, one bread wont be 1$, it's gonna be 1000$ (not exact math, but you get the point). So yes, you will be millionair, but you wont be able to buy as much with that million as you can buy right now. End game situation would be BTC taking over fiat. In that moment you can have 100000000000$ and you wont be able to buy anything with it. As simple as that.

As aditional example, 1 milion dollars could buy you ALOT more 50 years ago than it can buy right now, and trend (value of dollar falling) will just speed up.

You talk about inflation, I doubt the value of the dollar will fall as strong as in third world countries

Petrodolar is very close to failing. Once that starts to happen, shit will hit the fan. With hyper printing FED does this days, it's just question of time.
What everyone should ask themselves is not how much BTC will cost in dollars, but how much "bread" or "oil" or "flour" will i be able to buy with 1 btc...that's correct question that needs to be answered and speculated.

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

Quote from: bitbaby on June 06, 2014, 03:33:42 AM

They have, people who bought gold before the year 2005 and hodled it did made a huge profit as shown below:

And it will happen again, with what commodity or with which coin, hard to say but it is going to happen. And govt can't do anything about it.

Or looked at another way...

The profits from gold are really more about the decline of fiat than anything else. Remember, the value of any commodity is relative to the value of all other commodities!

johnatan32

newbie

Activity: 45

Merit: 0

Quote from: ljudotina on June 06, 2014, 05:27:42 AM

Quote from: cuddaloreappu on June 05, 2014, 11:15:17 PM

If bitcoin becomes million dollars each, or litecoin goes for 500$ and dogecoin goes for 1$ the sheer number of fiat millionaires it could create in the world could be thousands..

Is this socially possible? yes lot of people have become lot wealthy with lots of bubbles in past, the dot com bubble is a classical example creating lot of millionaires.

So what happens to the world if millions of millionaires are created all of a sudden?

will governments and rich people who have a lot of influence over the world(like Bilderberg), allow that to happen?

Dont forget that in that time, effective value of $ will fall. So, one bread wont be 1$, it's gonna be 1000$ (not exact math, but you get the point). So yes, you will be millionair, but you wont be able to buy as much with that million as you can buy right now. End game situation would be BTC taking over fiat. In that moment you can have 100000000000$ and you wont be able to buy anything with it. As simple as that.

As aditional example, 1 milion dollars could buy you ALOT more 50 years ago than it can buy right now, and trend (value of dollar falling) will just speed up.

You talk about inflation, I doubt the value of the dollar will fall as strong as in third world countries

ljudotina

legendary

Activity: 1260

Merit: 1029

Quote from: cuddaloreappu on June 05, 2014, 11:15:17 PM

If bitcoin becomes million dollars each, or litecoin goes for 500$ and dogecoin goes for 1$ the sheer number of fiat millionaires it could create in the world could be thousands..

Is this socially possible? yes lot of people have become lot wealthy with lots of bubbles in past, the dot com bubble is a classical example creating lot of millionaires.

So what happens to the world if millions of millionaires are created all of a sudden?

will governments and rich people who have a lot of influence over the world(like Bilderberg), allow that to happen?

Dont forget that in that time, effective value of $ will fall. So, one bread wont be 1$, it's gonna be 1000$ (not exact math, but you get the point). So yes, you will be millionair, but you wont be able to buy as much with that million as you can buy right now. End game situation would be BTC taking over fiat. In that moment you can have 100000000000$ and you wont be able to buy anything with it. As simple as that.

As aditional example, 1 milion dollars could buy you ALOT more 50 years ago than it can buy right now, and trend (value of dollar falling) will just speed up.

Topic: Have people become wealthy before, like with bitcoin? - page 3. (Read 4103 times)