Topic: I just joined the "one millionth of the bitcoin economy" club (Read 3121 times)
How poetic. Grats.
The challenge is holding onto the 21 BTC once they start getting really valuable.
Just don't own 21,000 BTC.... then you'd be the 1%! EVIL!!!
Imagine that Satoshi possibly could be in the 10% club – with only one member.
Just don't own 21,000 BTC.... then you'd be the 1%! EVIL!!!
Imagine that Satoshi possibly could be in the 10% club – with only one member.
Just don't own 210,000 BTC.... then you'd be the 1%! EVIL!!!
David Spade and Christina Applegate fighting back completely losing it never gets old. Their expressions to Farley going off-script are better than the skit itself.
I thought that was Christina when I first view it.
David Spade and Christina Applegate fighting back completely losing it never gets old. Their expressions to Farley going off-script are better than the skit itself.
Some what ifs:
If all the Bitcoin now in existence (11 million) were of equal value to the annual world wide gold production (2.7 kt...about 2.7x10^9 grams{Wikipedia}...$50 / gram), then BTC1 would be worth $12,000.
If this years production of Bitcoin (btc inflation rate is about 10% now...25*6*24*365=1.3E6) were to equal 1 yr gold production (gold inflation rate is about 1.5% btw), then 11E6/1.3E6~=10....so, 1 Bitcoin would be worth $120,000.
If all the Bitcoins that will ever exist equaled all the gold ever mined (about $10 trillion), 10E12/21E6=$500,000/btc.
If you add in silver and platinum...you get the idea
So, yeah, BTC21 is a lot. Maybe I should hit up dailybitcoins.org...their 1/100 of a mBTC payout might someday be worth $5
If all the Bitcoin now in existence (11 million) were of equal value to the annual world wide gold production (2.7 kt...about 2.7x10^9 grams{Wikipedia}...$50 / gram), then BTC1 would be worth $12,000.
If this years production of Bitcoin (btc inflation rate is about 10% now...25*6*24*365=1.3E6) were to equal 1 yr gold production (gold inflation rate is about 1.5% btw), then 11E6/1.3E6~=10....so, 1 Bitcoin would be worth $120,000.
If all the Bitcoins that will ever exist equaled all the gold ever mined (about $10 trillion), 10E12/21E6=$500,000/btc.
If you add in silver and platinum...you get the idea
So, yeah, BTC21 is a lot. Maybe I should hit up dailybitcoins.org...their 1/100 of a mBTC payout might someday be worth $5
Earlier today I started to feel sorry for myself for spending a bunch of coins last year (but got myself some kick-ass AR-15 parts), because I now see the jump to $60+. But then as I thought more about it, the fact that I did that was helpful in a small way to the bitcoin economy. I helped it grow, even at a tiny fraction. It's all of us, using it, that helps it become legitimate, and I still think I'm considered an early adopter. Although that line is quickly approaching to mainstream.
So now I'm back up to 8 (I'm a slow miner) and hopefully soon I'll rejoin the one millionth of the bitcoin economy club.
So now I'm back up to 8 (I'm a slow miner) and hopefully soon I'll rejoin the one millionth of the bitcoin economy club.
Very funny! Where is this from? (I'm in the UK and this looks like US TV).
You're right
It's Saturday Night Live, 90's 
I welcome you to the new wealthy elite!
Very funny! Where is this from? (I'm in the UK and this looks like US TV).
Congratulations and welcome to the "club".
Of course, Bitcoin is not a get-rich-quick scheme (hard to believe that, I know) and BTC21 isn't a great deal of money... yet. Oh, if only I were twentysomething now instead of an old fogie. Ah well, I still love Bitcoin anyway.
Of course, Bitcoin is not a get-rich-quick scheme (hard to believe that, I know) and BTC21 isn't a great deal of money... yet. Oh, if only I were twentysomething now instead of an old fogie. Ah well, I still love Bitcoin anyway.
Yeah.
If I were a twentysomething I'd be living in a van down by the river, eating uncooked ramen, working three jobs and putting every dime into BTC, and BTC businesses.
Congratulations and welcome to the "club".
Of course, Bitcoin is not a get-rich-quick scheme (hard to believe that, I know) and BTC21 isn't a great deal of money... yet. Oh, if only I were twentysomething now instead of an old fogie. Ah well, I still love Bitcoin anyway.
Of course, Bitcoin is not a get-rich-quick scheme (hard to believe that, I know) and BTC21 isn't a great deal of money... yet. Oh, if only I were twentysomething now instead of an old fogie. Ah well, I still love Bitcoin anyway.
Congrads!
+1
and I feel privileged to do so.
Imagine, you can buy 21 BTC with just over 1000 euros (around 1350 USD)... and this will get you a one millionth of the bitcoin economy (which will eventually be 21 million bitcoins).
That's awesome, in a way. What would it cost to buy one millionth of the existing gold reserve? That's about 10 million USD. http://en.wikipedia.org/wiki/Gold_reserve
How about one millionth of cash in circulation? Already in 2008, this was about 4 million USD. http://en.wikipedia.org/wiki/Circulation_(currency)
Somehow I feel that bitcoin is going to be big.
Imagine, you can buy 21 BTC with just over 1000 euros (around 1350 USD)... and this will get you a one millionth of the bitcoin economy (which will eventually be 21 million bitcoins).
That's awesome, in a way. What would it cost to buy one millionth of the existing gold reserve? That's about 10 million USD. http://en.wikipedia.org/wiki/Gold_reserve
How about one millionth of cash in circulation? Already in 2008, this was about 4 million USD. http://en.wikipedia.org/wiki/Circulation_(currency)
Somehow I feel that bitcoin is going to be big.
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