I am pretty confident we are the new wealthy elite, gentlemen. - page 94.

Amph

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Quote from: Bagatell on June 19, 2015, 12:49:57 AM

Quote from: bryant.coleman on June 18, 2015, 11:12:50 PM

No fiat currency has suffered such a crash.

I don't recall any fiat currency rising from zero to $1200 either.

you should see the initial value of the first fait currency it was probably very high, because there were a strong demand for something that could get rid of barter altogether

bitcoin is like that it is comparable with the first launch of fiat, then "altfiat" come in to play, and fiat become overall stable, it is happening again but with crypto coin

bryant.coleman

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Quote from: Bagatell on June 19, 2015, 12:49:57 AM

I don't recall any fiat currency rising from zero to $1200 either.

Most of the new investors bought their coins, after the "China boom" generated a lot of interest on Bitcoins. Those who sold their coins when the exchange rate was going at $1,200 was mostly older Bitcoiners, who numbered only in a few thousands. So we can say that a few thousand people gained when BTC went from $10 to $1,200, but tens of thousands lost, when BTC went from $1,200 to $230.

Possum577

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Loose lips sink sigs!

Quote from: Bagatell on June 19, 2015, 12:49:57 AM

Quote from: bryant.coleman on June 18, 2015, 11:12:50 PM

No fiat currency has suffered such a crash.

I don't recall any fiat currency rising from zero to $1200 either.

Maybe not a rise, but surely a drop. Google Zimbabwe currency, you'll find that their currency lost value significantly. Of course, it lost value to the dollar in that rise of denomination so it eventually became worthless and was abandoned.

http://www.nydailynews.com/news/world/zimbabwe-ditches-worthless-currency-dollar-article-1.2256966

Bagatell

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Quote from: bryant.coleman on June 18, 2015, 11:12:50 PM

No fiat currency has suffered such a crash.

I don't recall any fiat currency rising from zero to $1200 either.

siera

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Quote from: jehst on June 18, 2015, 08:26:33 PM

Quote from: bryant.coleman on June 17, 2015, 09:06:35 PM

If we assume that a 10% market share will be taken up by Bitcoin (the current share is less than 0.1%), then

The "just 1%" or "just 10%" idea is a very common fantasy when people think of the potential of new technologies.
If I start a search engine and get 10% of the market share, my search engine will be worth billions. That's true, but this line of reasoning totally ignores how difficult it is to get a 10% market share.

You can account for that possibility. But make sure you account for the other possibilities as well.

I compare btc with email. 23 years ago I asked some people if they want email. Nobody does. Today you can't go to school or get a job without email. So 10% market share is in pocket

pooya87

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Quote from: Cryddit on June 18, 2015, 08:44:43 PM

Today is an awesome day to own Bitcoins. Lips sealed

This time next week will be even awesomer. Grin

not so fast my friend. today is an awesome day for bitcoin, but next week we can be back at where we were previous week.
at least give it a couple of month and it will become awesome again.

Quote from: bryant.coleman on June 18, 2015, 11:12:50 PM

Quote from: dKingston on June 18, 2015, 09:53:40 PM

I agree, bitcoin is on a major rise now ..

Tell that to the guys who purchsed Bitcoin when the exchange rate was going at $1,200 per coin. Bitcoin has lost 80% of its value, from its peak, which was reached in December 2013. No fiat currency has suffered such a crash. The worst performing fiat currency is the Ukrainian Hryvnia, which has seen its value dropping by 60%.

those guys who bought at $1200 and hold their coins this long, should never consider investing in anything.

bryant.coleman

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Quote from: dKingston on June 18, 2015, 09:53:40 PM

I agree, bitcoin is on a major rise now ..

Tell that to the guys who purchsed Bitcoin when the exchange rate was going at $1,200 per coin. Bitcoin has lost 80% of its value, from its peak, which was reached in December 2013. No fiat currency has suffered such a crash. The worst performing fiat currency is the Ukrainian Hryvnia, which has seen its value dropping by 60%.

jehst

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21 million. I want them all.

Quote from: dKingston on June 18, 2015, 09:53:40 PM

I agree, bitcoin is on a major rise now ..

I don't like the look of the volume. Low volume rise followed by a 30 minute minute high volume buying frenzy. Now volume is declining while we hang at 250. I've seen this pattern so many times before dumps.

dKingston

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LAUNDER BITCOIN: https://BitLaunder.com

I agree, bitcoin is on a major rise now ..

Cryddit

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Today is an awesome day to own Bitcoins. Lips sealed

This time next week will be even awesomer. Grin

jehst

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21 million. I want them all.

Quote from: bryant.coleman on June 17, 2015, 09:06:35 PM

If we assume that a 10% market share will be taken up by Bitcoin (the current share is less than 0.1%), then

The "just 1%" or "just 10%" idea is a very common fantasy when people think of the potential of new technologies.
If I start a search engine and get 10% of the market share, my search engine will be worth billions. That's true, but this line of reasoning totally ignores how difficult it is to get a 10% market share.

You can account for that possibility. But make sure you account for the other possibilities as well.

wearepoor

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Quote from: andreibi on May 29, 2015, 11:25:08 PM

So far, Bitcoin seems to be stable for several months now. Higher probability, it will go up. Why don't you multiply your bitcoins by investing in good startups? Try Triple your BTC at ArchVentures SA, Portugal.

Yeah the future of Bitcoins will also depend mainly on the adoption and the stability of the price. If the price is stable it would attract more and more people to invest in bitcoins and if the adoption level is higher then the price of bitcoin will also reach to a next level.

bryant.coleman

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The global currency circulation is doubling every 10 years or so. In 2009, there were banknotes and coins worth some $4.2 trillion in circulation. So we can expect some $8.5 trillion to $9 trillion by 2020. If we assume that a 10% market share will be taken up by Bitcoin (the current share is less than 0.1%), then the market cap and exchange rate of BTC can increase by 200 times. The exchange rate will go up from $250 to $50,000.

hodlmybtc

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My guess is that in the future a lot of people will be using Bitcoin without handling any BTC themselves.

Abra (https://www.goabra.com) is doing this, people can send money to others around the world, it's using the Bitcoin blockchain and I don't think there is any mention of "Bitcoin" on their site.

So massive user adoption MIGHT not be neccesairy but would help ofcourse.

fabiola!

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Quote from: operrajunk74 on May 31, 2015, 01:11:51 PM

Quote from: Oscilson on May 27, 2015, 05:42:08 AM

It all depends on the long term adoption and usefulness of bitcoin.

That's true. If the adoption goes high then we are gonna very rich in the future but at present the scenario is very few people are aware about the bitcoin so the rate of adoption is very low at a moment so if the demand increases in coming future then there would be great hike in the value of bitcoin.

well we all know it's pretty useful, for so many things. it has to live on.

QuestionAuthority

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You lead and I'll watch you walk away.

Quote from: dopecoindude on May 31, 2015, 01:16:52 PM

Quote from: QuestionAuthority on May 31, 2015, 01:15:43 PM

Quote from: operrajunk74 on May 31, 2015, 01:11:51 PM

Quote from: Oscilson on May 27, 2015, 05:42:08 AM

It all depends on the long term adoption and usefulness of bitcoin.

That's true. If the adoption goes high then we are gonna very rich in the future but at present the scenario is very few people are aware about the bitcoin so the rate of adoption is very low at a moment so if the demand increases in coming future then there would be great hike in the value of bitcoin.

Lots of people know what Bitcoin is when I ask them. They tell me, "yeah, I've heard of Bitcoin. That's the money made for illegal drug users".

I found one person who is a dr. who I convinced to buy bitcoin. He didn't put up a fight and didn't mention drugs

I heard there was one. So you found him! Lucky guy.

dopecoindude

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The Dude Of DopeCoin

Quote from: QuestionAuthority on May 31, 2015, 01:15:43 PM

Quote from: operrajunk74 on May 31, 2015, 01:11:51 PM

Quote from: Oscilson on May 27, 2015, 05:42:08 AM

It all depends on the long term adoption and usefulness of bitcoin.

That's true. If the adoption goes high then we are gonna very rich in the future but at present the scenario is very few people are aware about the bitcoin so the rate of adoption is very low at a moment so if the demand increases in coming future then there would be great hike in the value of bitcoin.

Lots of people know what Bitcoin is when I ask them. They tell me, "yeah, I've heard of Bitcoin. That's the money made for illegal drug users".

I found one person who is a dr. who I convinced to buy bitcoin. He didn't put up a fight and didn't mention drugs

QuestionAuthority

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You lead and I'll watch you walk away.

Quote from: operrajunk74 on May 31, 2015, 01:11:51 PM

Quote from: Oscilson on May 27, 2015, 05:42:08 AM

It all depends on the long term adoption and usefulness of bitcoin.

That's true. If the adoption goes high then we are gonna very rich in the future but at present the scenario is very few people are aware about the bitcoin so the rate of adoption is very low at a moment so if the demand increases in coming future then there would be great hike in the value of bitcoin.

Lots of people know what Bitcoin is when I ask them. They tell me, "yeah, I've heard of Bitcoin. That's the money made for illegal drug users".

operrajunk74

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Quote from: Oscilson on May 27, 2015, 05:42:08 AM

It all depends on the long term adoption and usefulness of bitcoin.

That's true. If the adoption goes high then we are gonna very rich in the future but at present the scenario is very few people are aware about the bitcoin so the rate of adoption is very low at a moment so if the demand increases in coming future then there would be great hike in the value of bitcoin.

futureofbitcoin

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because good startups aren't going to take tiny amounts from no-name investors?

Topic: I am pretty confident we are the new wealthy elite, gentlemen. - page 94. (Read 631982 times)