Author

Topic: I am pretty confident we are the new wealthy elite, gentlemen. - page 122. (Read 631982 times)

newbie
Activity: 45
Merit: 0
I don't think....
sr. member
Activity: 714
Merit: 251
i know Sad plastic means we cant do money oragami Sad. still fiat runs the shops so cant go all in. i believe in bitcoin so stopped at 1/4 total fiat wealth. A little each week should get me a nice overall stake over time. I'm aiming for 200btc. i'd like 1000 btc but i think 200btc is more realistic.

That's a lot, well done. I'm a musician so I'll have to wait till my next royalty pay out to go and buy a few more btc. Mining is very slow atm, I'm just getting 1 btc a month I think, terrible! But if I had a "real" job I would be doing the same as you, wages in Ozzieland are so high it's great for you guys.

Wages aren't that high it depends on the job. The average wage i think is $74,000 AUD but what they don't tell you is the big earners in mining etc pull the average up alot. Most people i know are in the $50,000 a year range and thats AUD or $46,930 USD... however the housing market isn't that fun price wise. Where i am due to mining a house was $700 a week at one stage. When i lived in brisbane a 2 bedroom apartment was $380 a week. So out of $50k a year thats $20k gone in rent. Add in tax and food etc and i realise others struggle more but its not that fantastic. Mine wage is slightly above the $74k average and as i have no children, wife etc i do have some play money for investments.

Bitcoin just happens to be the first one i really believe in. I missed the boat on facebook shares... when they first floated at $30 or so i said over costed... they dropped to $17 and i didn't buy... they are what $74 now? $80 at one stage.... idiot i was.

Apple shares when they were $300 i saw the potential... they went to $700 something did i buy when i believed? no.... idiot i was again

Global financial crisis i should of went all in on commonwealth bank shares... those were $28... what are they now or rather 2 years after that? $82... idiot i was again

Not letting that happen again. I'm following my gut instincts and not losing out again. At the same time though i am quite happy to lose everything that i set aside for it. Fortunes favor the bold.

Best thing i think you can do is set aside a weekly amount you won't miss and just keep buying. I do some faucets on the side that whilst yes you get bugger all if i'm gaming or doing computer stuff in my own time i can once an hour spend 10 seconds of my life to type a captcha. I don't do them all as i find alot completely useless... personally i only use btc25.net, freebitco.in and moonbit.co.in . They do good satoshi rates compared to others without having to watch ads etc. Its easy and the return is nice enough. I'm using some of what i get there to pass to friends for free to encourage them to use it.

I think everyone should kick a faucet off as a start and use the meager income to promote to others. If you get friends trying decent faucets like i listed they get a taste of btc cause everyone likes free... it gives them a playground to trial it. Once they see its usefulness and freedom they usually want to buy more as faucets can't satisfy their needs past that.

I like Brisbane, I spent most of the time around that area + the gold & sunshine coasts. I didn't visit any mining towns but I've heard horror stories about how expensive they are.
Sorry that you missed the boat so many times, hopefully you'll be fine this time round!
Thanks for all your advice, I will try to acumulate all the btc I can, and I'll try to promote it to as may ppl as possible/pass on the faucets links Smiley thanks again!


legendary
Activity: 924
Merit: 1132

This is great. Now you only need a hero, some courage, some love, some betrayal and a few princesses, and you have the complete novel.


Laugh.  Yes, that would work for the backstory of a good yarn.  And I might even be able to sell that one.  Maybe I ought to write it, it would promote Bitcoin awareness anyway.

legendary
Activity: 924
Merit: 1132

Yes, those ratez lookz finez to Me
(licks chops)

Exercise due caution.  Places that advertise good rates are a bit more common than places that trade them.
legendary
Activity: 1316
Merit: 1000
Si vis pacem, para bellum
Very interesting. I have recently been buying bitcoins with http://www.toptradingnetwork.com/c/a281-b561-p"> http://aff.toptradingnetwork.com/dyn/banners/53470fabd1f55.gif" alt="" /> http://www.toptradingnetwork.com/i/a281-b561" width="1" height="1" alt="" /> I was wondering if they have best rates for me. Thanks.

Yes, those ratez lookz finez to Me
(licks chops)
newbie
Activity: 2
Merit: 0
Very interesting. I have recently been buying bitcoins with


http://www.toptradingnetwork.com/c/a281-b561-p


I was wondering if they have best rates for me. Thanks.
member
Activity: 235
Merit: 10
To think that not so long ago I was paid 50 BTC for two hours of work.

That sounds pretty cool, what kind of work, it you don't mind me asking?
legendary
Activity: 1512
Merit: 1005
I have spent the last three days doing block chain investigation to see where bitcoins have been going.

I can't assign identities to these entities, and this is somewhat hazy and open to interpretation as it depends on the disposition of the Silk road seized coins and some other auctioned coins that have not reappeared on the market.  Also the entities involved appear to be engaged in "buy, hold, and don't consolidate" - deliberately trying to avoid linking their purchased coins.  I'm only about 70% sure that the coins are held by this small set of entities, mainly on the grounds of the purchases being made in a consistent way - similar amounts at repeating times of week in the same marketplaces.  One tipoff was that in months that had large 'closed' auctions these patterns were disrupted; several of the pattern buys disappeared altogether, while others (judging by market and purchase timing) bought more apparently to avoid causing sudden changes in the level of market support.

If I'm right there are at least seven "whales" -- which apparently did not exist one year ago -- that probably have each now got about a half million Bitcoin.   They have been buying steadily for the last seven or so months, except that they bought a larger total in the months with the closed auctions (assuming it was them who got the closed auctions). They are continuing to buy very steady amounts in $US dollar terms, as the price starts to rally and the amounts of their purchases in Bitcoin start getting lower.

Holy crap that's an awe-inspiring amount of money.   But the "noise" of individual and chaotic transactions has been declining relative to these very regular clockwork transactions, and the market has changed character so that it is now increasingly *about* these semi-regular transactions - which appear in the market as flocks of buy orders spread over the course of hours or a day.  And when the noise of chaotic transactions did spike with the "bearwhale" incident last month, the patterns were disrupted as these new whales apparently sunk about 2.5 million extra into the market over the following three days.

Someone has been stuffing price stability down our throats whether we want it or not.

I could be wrong about this; I might be seeing something that doesn't mean what I think it means.  And I don't know who's doing it.  If this were two years ago, or even one, I'd say someone is getting ready to do a massive pump.  But whoever this is, they're playing a very large, long-term game - too large to NOT be in the direct eye of regulators - and I don't know whether they intend to cause a massive price spike followed by a dump and risk of jail time for market manipulation, or support a slow steady gain followed by a very carefully structured sell-out that will allow them the two or three years they'd need  to reach minimum safe distance (from prosecution) before the market is unsupported. 

This is great. Now you only need a hero, some courage, some love, some betrayal and a few princesses, and you have the complete novel.
legendary
Activity: 1596
Merit: 1021
I have spent the last three days doing block chain investigation to see where bitcoins have been going.

I can't assign identities to these entities, and this is somewhat hazy and open to interpretation as it depends on the disposition of the Silk road seized coins and some other auctioned coins that have not reappeared on the market.  Also the entities involved appear to be engaged in "buy, hold, and don't consolidate" - deliberately trying to avoid linking their purchased coins.  I'm only about 70% sure that the coins are held by this small set of entities, mainly on the grounds of the purchases being made in a consistent way - similar amounts at repeating times of week in the same marketplaces.  One tipoff was that in months that had large 'closed' auctions these patterns were disrupted; several of the pattern buys disappeared altogether, while others (judging by market and purchase timing) bought more apparently to avoid causing sudden changes in the level of market support.

If I'm right there are at least seven "whales" -- which apparently did not exist one year ago -- that probably have each now got about a half million Bitcoin.   They have been buying steadily for the last seven or so months, except that they bought a larger total in the months with the closed auctions (assuming it was them who got the closed auctions). They are continuing to buy very steady amounts in $US dollar terms, as the price starts to rally and the amounts of their purchases in Bitcoin start getting lower.

Holy crap that's an awe-inspiring amount of money.   But the "noise" of individual and chaotic transactions has been declining relative to these very regular clockwork transactions, and the market has changed character so that it is now increasingly *about* these semi-regular transactions - which appear in the market as flocks of buy orders spread over the course of hours or a day.  And when the noise of chaotic transactions did spike with the "bearwhale" incident last month, the patterns were disrupted as these new whales apparently sunk about 2.5 million extra into the market over the following three days.

Someone has been stuffing price stability down our throats whether we want it or not.

I could be wrong about this; I might be seeing something that doesn't mean what I think it means.  And I don't know who's doing it.  If this were two years ago, or even one, I'd say someone is getting ready to do a massive pump.  But whoever this is, they're playing a very large, long-term game - too large to NOT be in the direct eye of regulators - and I don't know whether they intend to cause a massive price spike followed by a dump and risk of jail time for market manipulation, or support a slow steady gain followed by a very carefully structured sell-out that will allow them the two or three years they'd need  to reach minimum safe distance (from prosecution) before the market is unsupported.  

Can you post the research data you have pointing to the 7 whales and where you draw your conclusions? I think many would find this interesting. I've suspected that there are some big players out there with huge fiat capital and i'm sure they have a plan but exactly what makes me feel uneasy. Is it a mass return to fiat or simply a mechanism they are using to increase BTC holdings to become future bitcoin major players once we get cemented in the bitcoin system worldwide.

I hope its not a giant fiat plan for transfer as if there are large amounts like that being planned up i don't think there is enough resistance to absorb all that without burning mass people and putting doubt in bitcoin... lets face it alot of people go for profit and it doesn't need a huge dump to get negativity. I'm thinking its a mechanism to increase BTC holdings and if your 7 whale theory is correct then the 30,000 coin drop was merely a research vessel for whatever else is coming.

Maybe it might be worth you publishing this research somewhere on a site that people can follow and contribute to? Knowledge is power.
legendary
Activity: 1596
Merit: 1021
Not sure if I said it in this thread yet, but 0.003 is about the fair share of BTC per person on the planet, so 0.3 puts you in the 1%

What you are saying is that top 1% on the planet Earth cannot have more than 0.3 BTC on average, but it does not say what % of their net work will be in bitcoin.
To be in the top 1% in the world, you need ~$780,000 in wealth
If only 5% of their wealth would be in BTC (similar % to gold), it would mean $39000 in BTC per each 1% person.
With 39K=0.3 BTC, it would mean price of BTC of $130000
In other words, for BTC value to be enough to represent just 5% in 1% wealthiest Earth inhabitants portfolio, the value of BTC HAS to reach $130000.

These projections seem to me to be way too unrealistic anyway. I doubt even 100% of people have fiat. Some probably lick in mud huts bartering goats and crops in some countries right? So how can 100% BTC adoption be assumed. Wouldn't the entire financial system have to crumble and be worthless before this could happen anyway? I tend to think that BTC would exist beside fiat long term and i think it would be more realistic to assume 10-30% worldwide adoption... even 10% i think would be a more realistic goal. So shouldn't projections on max BTC amount be done on 10% of the population that currently holds fiat?

I love BTC but i think alot of the hype and negativity is done with unrealistic calculations.
legendary
Activity: 1596
Merit: 1021
i know Sad plastic means we cant do money oragami Sad. still fiat runs the shops so cant go all in. i believe in bitcoin so stopped at 1/4 total fiat wealth. A little each week should get me a nice overall stake over time. I'm aiming for 200btc. i'd like 1000 btc but i think 200btc is more realistic.

That's a lot, well done. I'm a musician so I'll have to wait till my next royalty pay out to go and buy a few more btc. Mining is very slow atm, I'm just getting 1 btc a month I think, terrible! But if I had a "real" job I would be doing the same as you, wages in Ozzieland are so high it's great for you guys.

Wages aren't that high it depends on the job. The average wage i think is $74,000 AUD but what they don't tell you is the big earners in mining etc pull the average up alot. Most people i know are in the $50,000 a year range and thats AUD or $46,930 USD... however the housing market isn't that fun price wise. Where i am due to mining a house was $700 a week at one stage. When i lived in brisbane a 2 bedroom apartment was $380 a week. So out of $50k a year thats $20k gone in rent. Add in tax and food etc and i realise others struggle more but its not that fantastic. Mine wage is slightly above the $74k average and as i have no children, wife etc i do have some play money for investments.

Bitcoin just happens to be the first one i really believe in. I missed the boat on facebook shares... when they first floated at $30 or so i said over costed... they dropped to $17 and i didn't buy... they are what $74 now? $80 at one stage.... idiot i was.

Apple shares when they were $300 i saw the potential... they went to $700 something did i buy when i believed? no.... idiot i was again

Global financial crisis i should of went all in on commonwealth bank shares... those were $28... what are they now or rather 2 years after that? $82... idiot i was again

Not letting that happen again. I'm following my gut instincts and not losing out again. At the same time though i am quite happy to lose everything that i set aside for it. Fortunes favor the bold.

Best thing i think you can do is set aside a weekly amount you won't miss and just keep buying. I do some faucets on the side that whilst yes you get bugger all if i'm gaming or doing computer stuff in my own time i can once an hour spend 10 seconds of my life to type a captcha. I don't do them all as i find alot completely useless... personally i only use btc25.net, freebitco.in and moonbit.co.in . They do good satoshi rates compared to others without having to watch ads etc. Its easy and the return is nice enough. I'm using some of what i get there to pass to friends for free to encourage them to use it.

I think everyone should kick a faucet off as a start and use the meager income to promote to others. If you get friends trying decent faucets like i listed they get a taste of btc cause everyone likes free... it gives them a playground to trial it. Once they see its usefulness and freedom they usually want to buy more as faucets can't satisfy their needs past that.
legendary
Activity: 924
Merit: 1132
I have spent the last three days doing block chain investigation to see where bitcoins have been going.

I can't assign identities to these entities, and this is somewhat hazy and open to interpretation as it depends on the disposition of the Silk road seized coins and some other auctioned coins that have not reappeared on the market.  Also the entities involved appear to be engaged in "buy, hold, and don't consolidate" - deliberately trying to avoid linking their purchased coins.  I'm only about 70% sure that the coins are held by this small set of entities, mainly on the grounds of the purchases being made in a consistent way - similar amounts at repeating times of week in the same marketplaces.  One tipoff was that in months that had large 'closed' auctions these patterns were disrupted; several of the pattern buys disappeared altogether, while others (judging by market and purchase timing) bought more apparently to avoid causing sudden changes in the level of market support.

If I'm right there are at least seven "whales" -- which apparently did not exist one year ago -- that probably have each now got about a half million Bitcoin.   They have been buying steadily for the last seven or so months, except that they bought a larger total in the months with the closed auctions (assuming it was them who got the closed auctions). They are continuing to buy very steady amounts in $US dollar terms, as the price starts to rally and the amounts of their purchases in Bitcoin start getting lower.

Holy crap that's an awe-inspiring amount of money.   But the "noise" of individual and chaotic transactions has been declining relative to these very regular clockwork transactions, and the market has changed character so that it is now increasingly *about* these semi-regular transactions - which appear in the market as flocks of buy orders spread over the course of hours or a day.  And when the noise of chaotic transactions did spike with the "bearwhale" incident last month, the patterns were disrupted as these new whales apparently sunk about 2.5 million extra into the market over the following three days.

Someone has been stuffing price stability down our throats whether we want it or not.

I could be wrong about this; I might be seeing something that doesn't mean what I think it means.  And I don't know who's doing it.  If this were two years ago, or even one, I'd say someone is getting ready to do a massive pump.  But whoever this is, they're playing a very large, long-term game - too large to NOT be in the direct eye of regulators - and I don't know whether they intend to cause a massive price spike followed by a dump and risk of jail time for market manipulation, or support a slow steady gain followed by a very carefully structured sell-out that will allow them the two or three years they'd need  to reach minimum safe distance (from prosecution) before the market is unsupported. 
legendary
Activity: 3990
Merit: 4597
Not sure if I said it in this thread yet, but 0.003 is about the fair share of BTC per person on the planet, so 0.3 puts you in the 1%

What you are saying is that top 1% on the planet Earth cannot have more than 0.3 BTC on average, but it does not say what % of their net work will be in bitcoin.
To be in the top 1% in the world, you need ~$780,000 in wealth
If only 5% of their wealth would be in BTC (similar % to gold), it would mean $39000 in BTC per each 1% person.
With 39K=0.3 BTC, it would mean price of BTC of $130000
In other words, for BTC value to be enough to represent just 5% in 1% wealthiest Earth inhabitants portfolio, the value of BTC HAS to reach $130000.
hero member
Activity: 518
Merit: 500
Hodl!
Not sure if I said it in this thread yet, but 0.003 is about the fair share of BTC per person on the planet, so 0.3 puts you in the 1%
sr. member
Activity: 714
Merit: 251
i know Sad plastic means we cant do money oragami Sad. still fiat runs the shops so cant go all in. i believe in bitcoin so stopped at 1/4 total fiat wealth. A little each week should get me a nice overall stake over time. I'm aiming for 200btc. i'd like 1000 btc but i think 200btc is more realistic.

That's a lot, well done. I'm a musician so I'll have to wait till my next royalty pay out to go and buy a few more btc. Mining is very slow atm, I'm just getting 1 btc a month I think, terrible! But if I had a "real" job I would be doing the same as you, wages in Ozzieland are so high it's great for you guys.
legendary
Activity: 1596
Merit: 1021
i know Sad plastic means we cant do money oragami Sad. still fiat runs the shops so cant go all in. i believe in bitcoin so stopped at 1/4 total fiat wealth. A little each week should get me a nice overall stake over time. I'm aiming for 200btc. i'd like 1000 btc but i think 200btc is more realistic.
sr. member
Activity: 714
Merit: 251
Just bought 3 more BTC for 1k, like a fuckin BOSS

Oi! Showing off is prohibited. stop it!
Smiley

If you have it, flaunt it.
There were people who felt pretty smug because bitcoin's price "fell" to $500.
They don't look so cool now.

I don't agree, whats the point of flaunting, making people feel worse about themselves? MEAN!

Now is the time to get in, you think when the reward half's again  your ever going to get Coins this cheap again??

If you don't buy any now, don't complain when they're  over 10,000usd each........ Sad

You can lead a horse to water, but I guess you really can't make him drink lol



It's good advice, I'm doing the same thing, just please don't show off too much k? x


Nothing wrong with pride in ones good work Smiley. I'm back to $500 AUD weekly deposits and purchases now... Did the majority of my coin purchases at $379 AUD. Sitting at 122.03 BTC....

Like a mini boss?




AUD?Huh If my country' money was made of PLASTIC I would be putting loads into BTC as well! haha. JK, I love Australia, I spent 7 months there last year, missing the lamingtons and tim tams.
legendary
Activity: 1512
Merit: 1005

What is the logic?


Ummm... err... well, I guess maybe 'cuz we're all gonna be the new wealthy elite ("gentlemen..." LOL) and I suppose some may end up surrounded by hookers & blow, and/or with various other gold-digger, hangers-on types, who are just there for the lulz and the bling...? 

In that case, maybe just remember some of 'em ain't gonna be able to understand the cryptography and mathematical concepts behind bitcoin, so in that case... don't waste your time trying to explain it to them?

Or... naaaaw... no logic really: I actually just thought it was funny  Roll Eyes



I just thought it was denigrating a group of people. You don't know them all.
legendary
Activity: 1596
Merit: 1021
Just bought 3 more BTC for 1k, like a fuckin BOSS

Oi! Showing off is prohibited. stop it!
Smiley

If you have it, flaunt it.
There were people who felt pretty smug because bitcoin's price "fell" to $500.
They don't look so cool now.

I don't agree, whats the point of flaunting, making people feel worse about themselves? MEAN!

Now is the time to get in, you think when the reward half's again  your ever going to get Coins this cheap again??

If you don't buy any now, don't complain when they're  over 10,000usd each........ Sad

You can lead a horse to water, but I guess you really can't make him drink lol



It's good advice, I'm doing the same thing, just please don't show off too much k? x


Nothing wrong with pride in ones good work Smiley. I'm back to $500 AUD weekly deposits and purchases now... Did the majority of my coin purchases at $379 AUD. Sitting at 122.03 BTC....

Like a mini boss?


sr. member
Activity: 714
Merit: 251
Just bought 3 more BTC for 1k, like a fuckin BOSS

Oi! Showing off is prohibited. stop it!
Smiley

If you have it, flaunt it.
There were people who felt pretty smug because bitcoin's price "fell" to $500.
They don't look so cool now.

I don't agree, whats the point of flaunting, making people feel worse about themselves? MEAN!

Now is the time to get in, you think when the reward half's again  your ever going to get Coins this cheap again??

If you don't buy any now, don't complain when they're  over 10,000usd each........ Sad

You can lead a horse to water, but I guess you really can't make him drink lol



It's good advice, I'm doing the same thing, just please don't show off too much k? x
Jump to: