I am pretty confident we are the new wealthy elite, gentlemen. - page 148.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: jonald_fyookball on June 28, 2014, 01:19:17 PM

interesting footnote about San Fran.

an another obvious comparison that's been made a zillion times
is the Internet. Only nerds used it in 1995, and pretty much
everyone used it by 2010.

That's a good one. 95-2010, 15-25 years is in the zone.

jonald_fyookball

legendary

Activity: 1302

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Core dev leaves me neg feedback #abuse #political

interesting footnote about San Fran.

an another obvious comparison that's been made a zillion times
is the Internet. Only nerds used it in 1995, and pretty much
everyone used it by 2010.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: BitChick on June 28, 2014, 12:37:12 PM

Quote from: rpietila on June 23, 2014, 06:49:57 AM

Quote from: zimmah on June 23, 2014, 02:44:36 AM

Quote from: montreal on June 22, 2014, 09:52:37 PM

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.

Hopefully in two years they'll say the same about "people who own 1 or more bitcoin"

Will crypto win over fiat?
Is BTC the winning crypto?

As long as the answer to both of these questions is positive, just hold any number above BTC1 and you will be rich, and anything over BTC0.1 will be doing well, anything over BTC0.01 is above average, since the average guys will have BTC0.001 or less.

It does not matter at all how much fiat someone has, until he buys BTC with it, he will have none.

I was just thinking that at some point this logic (that even BTC1 is hugely valuable) should become widely known. It hasn't crossed that line yet though. The sentiment still seems to be that it is somewhat risky and highly speculative.

When will the masses see the value in holding 1? I suppose this "knowledge" will be shown in the adoption rate but there might be a tipping point where it becomes more clearly obvious to a larger number of people.

That's an interesting question. How long before the fringe elements trend becomes trendy with the masses?

The hippie counterculture movement of the 1960's really started with beatniks in the 1950's. Most historians agree that beatniks officially became hippies in about 1967. LSD was considered their Bitcoin and was supposed to be a tool for transforming society as a whole. As with most things trendy the movement began in and around San Francisco (like Bitcoin - even DPR was captured in SF). Psychedelic rock and the hippie movement really took off with Peoples park, Woodstock and Altamont which all happened in 1969. By 1972-75 all of us were wearing tie die and saying "the MAN got you down well fuck the Man!". By mid 1980's or so Starwood Festival and Burning Man were continuing on the tradition but it was still a fringe group of people and the original hippies were all yuppies and joined mainstream business. In other words, they all became "the MAN".

So mass adoption of a trend because it's cool, let's say, from 1950-1975, 25 years give or take. Did the trend of my generation change the world? Meh, let me just say, I'm still waiting for the Age of Aquarius. lol

BitChick

legendary

Activity: 1148

Merit: 1001

Quote from: rpietila on June 23, 2014, 06:49:57 AM

Quote from: zimmah on June 23, 2014, 02:44:36 AM

Quote from: montreal on June 22, 2014, 09:52:37 PM

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.

Hopefully in two years they'll say the same about "people who own 1 or more bitcoin"

Will crypto win over fiat?
Is BTC the winning crypto?

As long as the answer to both of these questions is positive, just hold any number above BTC1 and you will be rich, and anything over BTC0.1 will be doing well, anything over BTC0.01 is above average, since the average guys will have BTC0.001 or less.

It does not matter at all how much fiat someone has, until he buys BTC with it, he will have none.

I was just thinking that at some point this logic (that even BTC1 is hugely valuable) should become widely known. It hasn't crossed that line yet though. The sentiment still seems to be that it is somewhat risky and highly speculative.

When will the masses see the value in holding 1? I suppose this "knowledge" will be shown in the adoption rate but there might be a tipping point where it becomes more clearly obvious to a larger number of people.

rpietila

donator

Activity: 1722

Merit: 1036

Quote from: zimmah on June 23, 2014, 02:44:36 AM

Quote from: montreal on June 22, 2014, 09:52:37 PM

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.

Hopefully in two years they'll say the same about "people who own 1 or more bitcoin"

Will crypto win over fiat?
Is BTC the winning crypto?

As long as the answer to both of these questions is positive, just hold any number above BTC1 and you will be rich, and anything over BTC0.1 will be doing well, anything over BTC0.01 is above average, since the average guys will have BTC0.001 or less.

It does not matter at all how much fiat someone has, until he buys BTC with it, he will have none.

bryant.coleman

legendary

Activity: 3808

Merit: 1219

Quote from: cambda on June 23, 2014, 04:01:18 AM

20,000 coins is about 0,1 % of all Bitcoins. If Bitcoin ever become as popular as gold for saving wealth, 0,1 % seems a lot

Comparing Bitcoin to Gold?

Speaking about gold, some 200,000 tonnes of the yellow metal exists in the world. The total worth is around $8.36 trillion. The current market capitalization of Bitcoin is just 1/1000th of that amount. Grin

cambda

hero member

Activity: 759

Merit: 502

Quote from: vierelana on June 23, 2014, 03:35:57 AM

No Bitcoin holder yet has real money by global standards and we are a long way from that. An early miner/ investor with 20,000 coins is a whale -- but in global financial terms is a minnow and will be even when the price is higher.

20,000 coins is about 0,1 % of all Bitcoins. If Bitcoin ever become as popular as gold for saving wealth, 0,1 % seems a lot

blatchcorn

sr. member

Activity: 952

Merit: 281

Quote from: zimmah on June 23, 2014, 02:44:36 AM

Quote from: montreal on June 22, 2014, 09:52:37 PM

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.

Hopefully in two years they'll say the same about "people who own 1 or more bitcoin"

Those with patience will be rewarded, but this next bubble seems to be taking forever to arrive

vierelana

newbie

Activity: 4

Merit: 0

Be humble, be wise, don't make dumb purchases or lavish ones, work hard, be frugal and worry about being wealthy and elite when we hit $50k per coin.

vierelana

newbie

Activity: 4

Merit: 0

No Bitcoin holder yet has real money by global standards and we are a long way from that. An early miner/ investor with 20,000 coins is a whale -- but in global financial terms is a minnow and will be even when the price is higher.

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

Quote from: vierelana on June 23, 2014, 03:29:41 AM

Don't get cocky.
-Han Solo

"Train yourself to let go of everything you fear to lose."
"Many of the truths that we cling to depend on our point of view."
"Through the Force, things you will see. Other places. The future…the past. Old friends long gone." ~Yoda Cheesy

vierelana

newbie

Activity: 4

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Don't get cocky.
-Han Solo

Bit_Happy

legendary

Activity: 2114

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A Great Time to Start Something!

Quote from: montreal on June 22, 2014, 09:52:37 PM

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.

Many of us didn't hold long enough; When the post-crash low was $1.99996, then ~$7.23 looked really high.

rext

full member

Activity: 378

Merit: 100

Quote from: zimmah on June 23, 2014, 02:44:36 AM

Quote from: montreal on June 22, 2014, 09:52:37 PM

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.

Hopefully in two years they'll say the same about "people who own 1 or more bitcoin"

lol, yea that will probably happen

zimmah

legendary

Activity: 1106

Merit: 1005

Quote from: montreal on June 22, 2014, 09:52:37 PM

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.

Hopefully in two years they'll say the same about "people who own 1 or more bitcoin"

rext

full member

Activity: 378

Merit: 100

Quote from: montreal on June 22, 2014, 09:52:37 PM

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.

The good old days, my friend.

montreal

full member

Activity: 328

Merit: 100

I was just skimming through very old threads, its amazing how people used to talk about 100-1000btc (or more), like it was nothing. I hope for their sake they held on.

Arriemoller

legendary

Activity: 2282

Merit: 1767

Cлaвa Укpaїнi!

Quote from: JayJuanGee on June 22, 2014, 04:34:17 PM

Quote from: Arriemoller on June 22, 2014, 02:29:13 PM

Quote from: TheTruth4 on June 21, 2014, 01:16:58 PM

I don't want to be the elite, I just want to be able to answer "What do you do for a living?" with "I go on vacation."

Well, it would definitely be something you do, but I'm not sure it qualifies as "for a living".

How about "I travel, and I find various new parts of the world to explore?"

Would that be "for a living?"

Well the expression "for a living" seems to ask how you earn your money, and I suppose a person could say that s/he invests and monitors his/her investment "for a living."

Sounds good to me, I'll use that when that day comes.

JayJuanGee

legendary

Activity: 3948

Merit: 11416

Self-Custody is a right. Say no to"Non-custodial"

Quote from: Arriemoller on June 22, 2014, 02:29:13 PM

Quote from: TheTruth4 on June 21, 2014, 01:16:58 PM

I don't want to be the elite, I just want to be able to answer "What do you do for a living?" with "I go on vacation."

Well, it would definitely be something you do, but I'm not sure it qualifies as "for a living".

How about "I travel, and I find various new parts of the world to explore?"

Would that be "for a living?"

Well the expression "for a living" seems to ask how you earn your money, and I suppose a person could say that s/he invests and monitors his/her investment "for a living."

Arriemoller

legendary

Activity: 2282

Merit: 1767

Cлaвa Укpaїнi!

Quote from: TheTruth4 on June 21, 2014, 01:16:58 PM

I don't want to be the elite, I just want to be able to answer "What do you do for a living?" with "I go on vacation."

Well, it would definitely be something you do, but I'm not sure it qualifies as "for a living".

Topic: I am pretty confident we are the new wealthy elite, gentlemen. - page 148. (Read 631983 times)