Permabull Party Thread - page 8. | Bitcointalksearch.org

Torque

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Quote from: Hyena on March 29, 2015, 08:50:47 AM

Quote from: americanpegasus on March 29, 2015, 08:46:56 AM

There will be no slow and understandable rise.

Last rise to $1k was individuals.

The next rise will be institutions, and governments will be forced to capitulate.

We are witnesses to one of the most historic moments in the human race, and we all have prime seats.

It's a mistake to believe that bitcoin will be rationally priced as a fair percentage of the economy it represents... What will happen is that irrational bags of meat will lose their fucking minds and drive the price of bitcoin to absurd values.

And I'm already here, MJ popcorn gif style.

Exactly. We can rationally see that if bitcoin was used everywhere in the world then 1 bitcoin should cost 1 000 000$. however, people are not rational so they get greedy and drive the price 10x higher than it's real value is. I wouldn't be surprised to see 1 bitcoin costing 10 000 000$.

Just like no one in 1990 would've believed that two decades later a share BRK/A stock would be trading at $217,000. Bitcoin has the same potential, and the network growth to get there faster.

kryptopojken

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Quote from: Hyena on March 29, 2015, 08:50:47 AM

Exactly. We can rationally see that if bitcoin was used everywhere in the world then 1 bitcoin should cost 1 000 000$. however, people are not rational so they get greedy and drive the price 10x higher than it's real value is. I wouldn't be surprised to see 1 bitcoin costing 10 000 000$.

and a loaf of bread costing $50 000

Hyena

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Quote from: americanpegasus on March 29, 2015, 08:46:56 AM

There will be no slow and understandable rise.

Last rise to $1k was individuals.

The next rise will be institutions, and governments will be forced to capitulate.

We are witnesses to one of the most historic moments in the human race, and we all have prime seats.

It's a mistake to believe that bitcoin will be rationally priced as a fair percentage of the economy it represents... What will happen is that irrational bags of meat will lose their fucking minds and drive the price of bitcoin to absurd values.

And I'm already here, MJ popcorn gif style.

Exactly. We can rationally see that if bitcoin was used everywhere in the world then 1 bitcoin should cost 1 000 000$. however, people are not rational so they get greedy and drive the price 10x higher than it's real value is. I wouldn't be surprised to see 1 bitcoin costing 10 000 000$.

americanpegasus

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There will be no slow and understandable rise.

Last rise to $1k was individuals.

The next rise will be institutions, and governments will be forced to capitulate.

We are witnesses to one of the most historic moments in the human race, and we all have prime seats.

It's a mistake to believe that bitcoin will be rationally priced as a fair percentage of the economy it represents... What will happen is that irrational bags of meat will lose their fucking minds and drive the price of bitcoin to absurd values.

And I'm already here, MJ popcorn gif style.

futureofbitcoin

sr. member

Activity: 322

Merit: 250

I mean I think what you said will happen, I just don't think it'll happen before bitcoin goes mainstream. Bitcoin going mainstream will be what fuels these events, not the other way around.

But hey, I'm all for anything that will catapult bitcoin to mainstream asap, so I can start eating wagyu and foie gras everyday Cheesy

So I'll be glad to be proven wrong.

calme

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Quote from: futureofbitcoin on March 29, 2015, 05:27:01 AM

Quote from: calme on March 29, 2015, 05:08:41 AM

Quote from: futureofbitcoin on March 29, 2015, 12:19:41 AM

Quote from: calme on March 29, 2015, 12:01:26 AM

^^ Not that they're mutually exclusive, but non-crypto industry salaries paid in BTC is what I want to see.

I really don't think that's going to happen in a long, long time, even after bitcoin reaches the moon.

You can wet the bed, but please don't pee on my dream. Salaries paid in BTC would create a lot of buy pressure.

Why would anyone want to receive their salaries in bitcoin before it's certain that bitcoin is here to stay, and won't suddenly drop by 50%? And if someone did, they can always convert it themselves, would they really bother their employers to make an exception for them?

I really can't see it happening. Bitcoin becoming a mainstream currency might fuel cause some people/companies to deal mainly in bitcoin, but there has to be a huge incentive to do so in order for people to change. And most people simply don't do remittance or need to deal with foreign currencies all that often at all. Maybe a vacation a year, for a relatively well off family. There might be a decent sized market, but they can always buy bitcoin if they need it, there's no need to receive their salaries in bitcoin.

Just because a service to do something exists, doesn't mean people will use it.

Well, I would hope that in the 21st century--a global century--we would have some degree of freedom of currency rather than having it be mandated by some governmental entity and thus having it be a product of geography. Employers could ask which currencies employees want to be paid in, which is better than paying out in a default currency which could be automatically converted according to the employees' preferences, b/c the former causes the employee to stop and think about the matter and also doesn't require them to be savvy enough to use some sort of currency conversion means. Concerning why they'd want to be paid in BTC, I'm sure a lot of ppl would opt for BTC to be their currency b/c they feel that if the majority of their savings is in BTC format, they'll be richer in the long run. I understand what you're saying though. Perhaps the truth lies somewhere between your "realistic" ideas and my idealistic ones.

futureofbitcoin

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Activity: 322

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Quote from: calme on March 29, 2015, 05:08:41 AM

Quote from: futureofbitcoin on March 29, 2015, 12:19:41 AM

Quote from: calme on March 29, 2015, 12:01:26 AM

^^ Not that they're mutually exclusive, but non-crypto industry salaries paid in BTC is what I want to see.

I really don't think that's going to happen in a long, long time, even after bitcoin reaches the moon.

You can wet the bed, but please don't pee on my dream. Salaries paid in BTC would create a lot of buy pressure.

Why would anyone want to receive their salaries in bitcoin before it's certain that bitcoin is here to stay, and won't suddenly drop by 50%? And if someone did, they can always convert it themselves, would they really bother their employers to make an exception for them?

I really can't see it happening. Bitcoin becoming a mainstream currency might fuel cause some people/companies to deal mainly in bitcoin, but there has to be a huge incentive to do so in order for people to change. And most people simply don't do remittance or need to deal with foreign currencies all that often at all. Maybe a vacation a year, for a relatively well off family. There might be a decent sized market, but they can always buy bitcoin if they need it, there's no need to receive their salaries in bitcoin.

Just because a service to do something exists, doesn't mean people will use it.

calme

sr. member

Activity: 392

Merit: 250

Quote from: futureofbitcoin on March 29, 2015, 12:19:41 AM

Quote from: calme on March 29, 2015, 12:01:26 AM

^^ Not that they're mutually exclusive, but non-crypto industry salaries paid in BTC is what I want to see.

I really don't think that's going to happen in a long, long time, even after bitcoin reaches the moon.

You can wet the bed, but please don't pee on my dream. Salaries paid in BTC would create a lot of buy pressure.

lyth0s

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World Class Cryptonaire

Quote from: futureofbitcoin on March 29, 2015, 12:19:41 AM

Quote from: calme on March 29, 2015, 12:01:26 AM

^^ Not that they're mutually exclusive, but non-crypto industry salaries paid in BTC is what I want to see.

I really don't think that's going to happen in a long, long time, even after bitcoin reaches the moon.

With companies like BitWage it will happen much sooner than you think. It'll start with small percentages of income being paid in bitcoin, like the employees at Overstock opting in for.

Also with Bitwages partnership with credit cards it makes it even easier to spend your bitcoin wage at soon-to-be historic CC payment terminals Tongue

futureofbitcoin

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Quote from: calme on March 29, 2015, 12:01:26 AM

^^ Not that they're mutually exclusive, but non-crypto industry salaries paid in BTC is what I want to see.

I really don't think that's going to happen in a long, long time, even after bitcoin reaches the moon.

calme

sr. member

Activity: 392

Merit: 250

^^ Not that they're mutually exclusive, but non-crypto industry salaries paid in BTC is what I want to see.

tspacepilot

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I may write code in exchange for bitcoins.

Quote from: coinableS on March 28, 2015, 09:09:19 PM

Quote from: Melbustus on March 28, 2015, 07:55:58 PM

Permabull since 2011 here. Risk/reward now seems about what it felt-like to me in early 2012, though I do think cycles are likely to take longer now vs then, since the ecosystem is larger.

And just to be clear, many of us bulls fully ack the risk involved with bitcoin as an investment, and consider it a very high sigma positive expectation position. Actually, it's probably the most asymmetrical opportunity I've seen, by far, that doesn't require the resources/expertise of a hedge-fund operator to actually execute on.

This is very true. Bitcoin is very easy to get in on. No minimum deposit requirements, no credit or background checks. If you can figure out how to buy something on amazon, you can figure out how to buy bitcoin at circle or coinbase.

I guess this is probably correct. And for speculation it's certainly crucial that people can buy bitcoin easily. However, what I'd like to see a lot more of is spending of bitcoin on everyday stuff. That, IMO, would be the best for us in the long run.

johnyj

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Beyond Imagination

I remember the most impressive bull quote: "This is bigger than Jesus" Grin

Chef Ramsay

legendary

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Quote from: coinableS on March 28, 2015, 09:09:19 PM

Quote from: Melbustus on March 28, 2015, 07:55:58 PM

Permabull since 2011 here. Risk/reward now seems about what it felt-like to me in early 2012, though I do think cycles are likely to take longer now vs then, since the ecosystem is larger.

And just to be clear, many of us bulls fully ack the risk involved with bitcoin as an investment, and consider it a very high sigma positive expectation position. Actually, it's probably the most asymmetrical opportunity I've seen, by far, that doesn't require the resources/expertise of a hedge-fund operator to actually execute on.

This is very true. Bitcoin is very easy to get in on. No minimum deposit requirements, no credit or background checks. If you can figure out how to buy something on amazon, you can figure out how to buy bitcoin at circle or coinbase.

True but too bad we don't have the problem of the amount of people seeking to make an Amazon account translating into making Coinbase or Circle accounts thus adding to the demand around here. Buy and hold til then w/ maybe a little trading and lending in the mean time. Wink

coinableS

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Quote from: Melbustus on March 28, 2015, 07:55:58 PM

Permabull since 2011 here. Risk/reward now seems about what it felt-like to me in early 2012, though I do think cycles are likely to take longer now vs then, since the ecosystem is larger.

And just to be clear, many of us bulls fully ack the risk involved with bitcoin as an investment, and consider it a very high sigma positive expectation position. Actually, it's probably the most asymmetrical opportunity I've seen, by far, that doesn't require the resources/expertise of a hedge-fund operator to actually execute on.

This is very true. Bitcoin is very easy to get in on. No minimum deposit requirements, no credit or background checks. If you can figure out how to buy something on amazon, you can figure out how to buy bitcoin at circle or coinbase.

BillyBobZorton

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You should not delete posts by NotHatinJustTrolling, just to prove my point right: Troll-FUDsters like this guy are only here when the price is low and magically dissapear when we are close to getting an high price again, because their whole existence revoleves around FUDsting, therefore if you eliminate the low price their lifes dissapear as well.

Quote from: NotHatinJustTrollin on March 28, 2015, 07:34:12 PM

Quote from: Torque on March 28, 2015, 07:19:48 PM

Ok OP, if you truly plan this thread for the 'permabulls' then you absolutely need to instill a few rules:

1) Delete ALL troll posts or bear posts from this thread (yes NotHatinJustTrollin, I'm looking at you)

2) Allow for some serious long term positive bull discussion

3) ADHERE to rule #1

I think you missed this part about OP post:

Quote from: xDan on March 28, 2015, 11:53:24 AM

See you all in a year or few. If any bears would be so kind as to post here saying Bitcoin will never reach that point again, it would be highly appreciated, and make this even more entertaining. Price currently is around $250.

Like I said before, you will not come back so who cares? You will log in again with this account once we break ATH to comfront your own bullshit when you are proved wrong. Bitcoin is never going to die in your lifetime and it will get higher than we can imagine, deal with the facts.

BillyBobZorton

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Quote from: ?? on ??

Bitcoin will never reach that point again.

You're welcome.

See ya in a few years.

Nice! Posting first so you can be ridiculed to no avail once we break ATH. Of course, you are too much of a coward to come back once you get proved wrong yourself, just like all the FUDsters of your kind. This is why you are nothing, zero. You have no value.

Melbustus

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Permabull since 2011 here. Risk/reward now seems about what it felt-like to me in early 2012, though I do think cycles are likely to take longer now vs then, since the ecosystem is larger.

And just to be clear, many of us bulls fully ack the risk involved with bitcoin as an investment, and consider it a very high sigma positive expectation position. Actually, it's probably the most asymmetrical opportunity I've seen, by far, that doesn't require the resources/expertise of a hedge-fund operator to actually execute on.

NotHatinJustTrollin

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★Bitvest.io★ Play Plinko or Invest!

Quote from: Torque on March 28, 2015, 07:19:48 PM

Ok OP, if you truly plan this thread for the 'permabulls' then you absolutely need to instill a few rules:

1) Delete ALL troll posts or bear posts from this thread (yes NotHatinJustTrollin, I'm looking at you)

2) Allow for some serious long term positive bull discussion

3) ADHERE to rule #1

I think you missed this part about OP post:

Quote from: xDan on March 28, 2015, 11:53:24 AM

See you all in a year or few. If any bears would be so kind as to post here saying Bitcoin will never reach that point again, it would be highly appreciated, and make this even more entertaining. Price currently is around $250.

NotHatinJustTrollin

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★Bitvest.io★ Play Plinko or Invest!

A bubble is a very interesting sociological phenomenon.

Watching late adopters (the suckers, as opposed to the early adopters who dump on them) and their ramblings is fascinating.
You could write never-ending essays on them.

Sure, the delusions often make you cringe and feel terrible for them, but it's always a spectacle nonetheless.

On a more pragmatic note, they are the exact opposite of what should be done when investing. In the end they are even useful.

Topic: Permabull Party Thread - page 8. (Read 11420 times)