Topic: I am pretty confident we are the new wealthy elite, gentlemen. - page 173. (Read 631983 times)

Definitely feeling optimistic, especially after the China PBOC scare that ultimately amounted to just rumor.

Now just need to keep the positive momentum going with more adoption with companies, positive news, and just spreading the news to the masses.

Holding $500 like a rock. Gox people may soon get back some Bitcoin. Good times ahead. Hoping neo bee soon gets thrown in jail for life.

We have survived our biggest challenge to this date (Mt Gox scandal), without much damage. The worst is over and gone, and the best is yet to come. I expect everyone to be optimistic.

Poor countries can save in transfer fees with Bitcoin and get direct donations more easily

Having a constantly depreciated currency is very bad when you are poor because your salary doesn't go up as much as the currency goes down and it is hard to save

I dont think this concept addresses Billysweird's point exactly.

However, a point to address billysweird's point would be that bitcoin would provide a lot for poor people to the extent that they attempt to save anything or to the extent that they may rely upon fiat money systems that disproportionately steal their money.

Poor is relative, of course, and some people in the world are struggling more than other people; however, part of the reason that they are struggling as much as they are is b/c they are exploited in their various financial instruments and the depreciation of their money.  I am NOT sure about whether bitcoin is going to completely resolve these kinds of resource issues b/c the rich frequently find new ways to exploit the poor, but bitcoin has the potential to offer a variety of solutions as compared with fiat money systems.

Oh. Glad you understood that  I thought the poster was simply having a midlife crisis and worrying about age spots. 

Patience.  The year is just getting started.

and I am pretty confident we are the old dying elite, whose best times have passed

A phrase made popular by the US president John F. Kennedy applies . . .

A rising tide lifts all boats.

What's your point billysweird?

Well maybe for a few entitled kids who got everything from their parents it is. But for the majority of the world's population it isn't. The majority of the world population doesn't have a computer, even less people have internet, and most people don't have any money to buy bitcoins with, because they use all their money for food and still they starve.

So is that good news for us early adopter folks? :-)

Past performance does not guarantee future results but I like your bullish point of vue

The number of people knowing Bitcoin, liking Bitcoin, using Bitcoin is growing everyday, way more than the number of bitcoins; world wealth is increasing as well and the western financial system is going down within years

The price history of bitcoin shows 10x growth per year on average, which is supported by 3.2x average growth in both bitcoin addresses and adjusted number of bitcoin transactions - according to Metcalfe's Law. My own logistic model of bitcoin prices says that this growth rate will continue on average, actually very slightly diminishing, until we reach the midpoint of adoption. We could already be past that point but the preponderance of evidence in my opinion, is that the Bitcoin Economy is far from reaching that point.

After the mid point of adoption average price growth rates will rapidly diminish, reaching the levels you mention or lower.

Personally, I think that we have to walk before we run, and surely bitcoin, in its short life, has had a truly amazing growth path - which causes these very extravagant predictions.  

I understand  and appreciate bitcoin fundamentals enough  to realize that any of the scenarios are possible - even 10x growth per year is possible.  

If my investment grows at a higher rate than other assets in which I could have placed my money, then I will be happy with that.  

If bitcoin doubles in value every year between now and 2019, that would be truly amazing in my estimation.  
2014 $500, to
2015 $1,000, to
2016 $2,000 to
2017 $4,000, to
2018 $8,000 to
2019 $16,000.

I would be extremely satisfied with such a performance, which seems more realistic than continuing 10x performance per year.  10X would look like this.

2014 $500, to
2015 $5,000, to
2016 $50,000 to
2017 $500,000, to
2018 $5,000,000 to
2019 $50,000,000.

I can grasp that 10x is possible and plausible... but seems a bit too much for the infrastructure to absorb into such a short period of time - especially going from $50k to $500k - I have a very hard time envisioning that - however, I do recognize that if any medium size country picked up bitcoin as its national currency, then those scenarios are completely reasonable - and there are a variety of other adoption scenarios that could continue the 10x growth per year for several years into the future.... but somewhere between 2x and 5x growth seems much more within the grasp of the possible.

Surely I agree with you that the higher the better for those of us who have already accumulated a respectable stash of BTC.

Yet, even with a current stash of 10BTC may cause some challenges to be able to hold onto such a stash between now and 2019, especially if BTC prices were to have their continued up and down moments, which cause holders (especially financially strapped holders) to engage in panic selling behaviors or even necessity selling behaviors at the wrong times.

Personally, my own little fantasy may be that BTC could get 5x for the next couple of years, then 2x thereafter for the next few years and then 20%, which would look like this on a 10 year timeline:

2014 $500
2015 $2,500 (5x)
2016 $10,000 (5x)
2017 $20,000, (2x)
2018 $40,000 (2x)
2019 $80,000 (2x)
2020 $96,000 (20% increase)
2021 $115,200 (20% increase)
2022 $138,240 (20% increase)
2023 $165,888 (20% increase).

I am NOT sure whether this kind of a BTC appreciation model is sustainable, but it does seem possible at some point to enter into a period of an ongoing average appreciation of BTC value somewhere between 10-20% per year.

This seems like a troll question... but o.k... I will bite a little bit. 

either $5 or $.05 per satoshi would be very disruptive to our current money system and our current ways of storing value.  Personally, I think that either $5 or $.05 per satoshi are reachable by 2019 - but fairly unlikely to reach that level of adoption or value increase in 5 years.

 Either price scenario would seem to require pretty extensive adoption and possibly a bitcoin bubble that is too unstable if it were rising in value that rapidly.

In essence, the questioner, here needs to be more specific concerning why s/he believes $5 million per bitcoin in 2019 would be "bad for the market."    I would suggest narrowing down the question a bit and provide us some more explanation about what would be the potential concern(s) about the effect(s) on the market.  Otherwise, the question, as currently framed, leaves potential responses floundering into way too much speculation about the meaning of the question regarding the potential effects on the market and/or the possible concerns of the questioner.

I will settle for just 1 million per coin, that would be great. even 100k/coin would be nice!

There are 100 million satoshis per bitcoin - NOT 1 million.. So  $5million per bitcoin would be $.05 per satoshi.  $5 per satoshi would be $500 million per bitcoin.. which would be much more difficult to reach by 2019 - especially since we are having trouble reaching $500 in recent days.

In 10 yrs, they will be the $9.99 whopper. The prices of ciggies are getting out of control too.

Who knows? May be in the near future you might be able to buy those chocolate covered malted milk balls for BTC0.0001 from Walmart or Tesco.