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Topic: Richest dude in Asia, going hard on Bitcoin (Read 3672 times)

RockHound
full member
Activity: 224
Merit: 100
Richest dude in Asia, going hard on Bitcoin
May 20, 2014, 01:11:32 AM
#75
Quote from: Crindon on May 19, 2014, 01:33:02 PM
With the huge investors rushing in, when will the prices rise again? I am really disliking the current state of stagnating prices across the boards. Anyone else?

Indications moving north this morning  Cool  hopefully will continue!

Agree with your previous posts $800,000,000 would be a decent position in Bitcoin.

At current market that's 1,751,000BTC ....... most agreeable  Smiley

If Bitcoin reached $2000, Li Ka-shing will hold $3,502,000,000 value
ranlo
legendary
Activity: 1974
Merit: 1007
Re: Richest dude in Asia, going hard on Bitcoin
May 20, 2014, 12:55:38 AM
#74
Quote from: hensi on May 20, 2014, 12:51:40 AM
Quote from: Crindon on May 19, 2014, 01:42:06 PM
Quote from: hensi on May 19, 2014, 01:37:55 PM
Quote from: ranlo on May 19, 2014, 01:21:33 PM
Quote from: hensi on May 19, 2014, 05:32:20 AM
Quote from: Ginos on May 19, 2014, 04:16:44 AM
what amount  do you think 1bitcoin will be after 5 years ,?
5000$  or 50 $ ?
it will be above $2000

5 years? I'd say well above 2k. Inflation itself will have gone up 10% or so (in USD), possibly more. Add on all the services that are set to launch JUST this year and it's easy to see the value climbing up high.
Well even if new btc accepting services come up, i dont think that even after 10% inflation the btc will rise above 3000 in 5years

The climate is unstable and people are losing trust in fiat. You never know what could happen. Even a run up to $3,000 would make me kinda happy, not entirely though.
Well, I dont think anyone is loosing trust in fiat. My government is changing and so will its policies, and today my currency is on 11month high, certainly i havnt lost the trust on fiat.

Yeah, I think the idea that people are losing trust in fiat is a huge overstatement. We use fiat for pretty much everything. Unless there was a massive change in cryptos that made them mainstream, fiat will still rule.
hensi
member
Activity: 70
Merit: 10
TheSlimShady
Re: Richest dude in Asia, going hard on Bitcoin
May 20, 2014, 12:51:40 AM
#73
Quote from: Crindon on May 19, 2014, 01:42:06 PM
Quote from: hensi on May 19, 2014, 01:37:55 PM
Quote from: ranlo on May 19, 2014, 01:21:33 PM
Quote from: hensi on May 19, 2014, 05:32:20 AM
Quote from: Ginos on May 19, 2014, 04:16:44 AM
what amount  do you think 1bitcoin will be after 5 years ,?
5000$  or 50 $ ?
it will be above $2000

5 years? I'd say well above 2k. Inflation itself will have gone up 10% or so (in USD), possibly more. Add on all the services that are set to launch JUST this year and it's easy to see the value climbing up high.
Well even if new btc accepting services come up, i dont think that even after 10% inflation the btc will rise above 3000 in 5years

The climate is unstable and people are losing trust in fiat. You never know what could happen. Even a run up to $3,000 would make me kinda happy, not entirely though.
Well, I dont think anyone is loosing trust in fiat. My government is changing and so will its policies, and today my currency is on 11month high, certainly i havnt lost the trust on fiat.
Crindon
sr. member
Activity: 434
Merit: 250
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 01:42:06 PM
#72
Quote from: hensi on May 19, 2014, 01:37:55 PM
Quote from: ranlo on May 19, 2014, 01:21:33 PM
Quote from: hensi on May 19, 2014, 05:32:20 AM
Quote from: Ginos on May 19, 2014, 04:16:44 AM
what amount  do you think 1bitcoin will be after 5 years ,?
5000$  or 50 $ ?
it will be above $2000

5 years? I'd say well above 2k. Inflation itself will have gone up 10% or so (in USD), possibly more. Add on all the services that are set to launch JUST this year and it's easy to see the value climbing up high.
Well even if new btc accepting services come up, i dont think that even after 10% inflation the btc will rise above 3000 in 5years

The climate is unstable and people are losing trust in fiat. You never know what could happen. Even a run up to $3,000 would make me kinda happy, not entirely though.
ranlo
legendary
Activity: 1974
Merit: 1007
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 01:40:05 PM
#71
Quote from: hensi on May 19, 2014, 01:37:55 PM
Quote from: ranlo on May 19, 2014, 01:21:33 PM
Quote from: hensi on May 19, 2014, 05:32:20 AM
Quote from: Ginos on May 19, 2014, 04:16:44 AM
what amount  do you think 1bitcoin will be after 5 years ,?
5000$  or 50 $ ?
it will be above $2000

5 years? I'd say well above 2k. Inflation itself will have gone up 10% or so (in USD), possibly more. Add on all the services that are set to launch JUST this year and it's easy to see the value climbing up high.
Well even if new btc accepting services come up, i dont think that even after 10% inflation the btc will rise above 3000 in 5years

More money is flowing in to the system. In 3 years, the generation rate of BTC will halve. Both of these together should increase the price as well.
hensi
member
Activity: 70
Merit: 10
TheSlimShady
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 01:37:55 PM
#70
Quote from: ranlo on May 19, 2014, 01:21:33 PM
Quote from: hensi on May 19, 2014, 05:32:20 AM
Quote from: Ginos on May 19, 2014, 04:16:44 AM
what amount  do you think 1bitcoin will be after 5 years ,?
5000$  or 50 $ ?
it will be above $2000

5 years? I'd say well above 2k. Inflation itself will have gone up 10% or so (in USD), possibly more. Add on all the services that are set to launch JUST this year and it's easy to see the value climbing up high.
Well even if new btc accepting services come up, i dont think that even after 10% inflation the btc will rise above 3000 in 5years
Crindon
sr. member
Activity: 434
Merit: 250
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 01:34:06 PM
#69
Quote from: Ginos on May 19, 2014, 04:16:44 AM
what amount  do you think 1bitcoin will be after 5 years ,?
5000$  or 50 $ ?

5 years is a long time for Bitcoin and the cryptoworld. I am really hoping for $10,000 to $40,000. It would be great to be something like $50,000, a nice even number like that.
Crindon
sr. member
Activity: 434
Merit: 250
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 01:33:02 PM
#68
With the huge investors rushing in, when will the prices rise again? I am really disliking the current state of stagnating prices across the boards. Anyone else?
ranlo
legendary
Activity: 1974
Merit: 1007
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 01:21:33 PM
#67
Quote from: hensi on May 19, 2014, 05:32:20 AM
Quote from: Ginos on May 19, 2014, 04:16:44 AM
what amount  do you think 1bitcoin will be after 5 years ,?
5000$  or 50 $ ?
it will be above $2000

5 years? I'd say well above 2k. Inflation itself will have gone up 10% or so (in USD), possibly more. Add on all the services that are set to launch JUST this year and it's easy to see the value climbing up high.
hensi
member
Activity: 70
Merit: 10
TheSlimShady
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 05:32:20 AM
#66
Quote from: Ginos on May 19, 2014, 04:16:44 AM
what amount  do you think 1bitcoin will be after 5 years ,?
5000$  or 50 $ ?
it will be above $2000
Ginos
member
Activity: 116
Merit: 100
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 04:16:44 AM
#65
what amount  do you think 1bitcoin will be after 5 years ,?
5000$  or 50 $ ?
LeChatNoir
hero member
Activity: 699
Merit: 501
Coinpanion.io - Copy Successful Crypto Traders
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 04:07:42 AM
#64
Quote from: ranlo on May 19, 2014, 03:37:31 AM
Quote from: bryant.coleman on May 19, 2014, 03:33:00 AM
Quote from: ranlo on May 19, 2014, 03:22:09 AM
Those were exactly who I had in mind when I made that statement. I'm sure other companies do it as well, though, and just aren't as transparent (or, rather, haven't gotten caught). I mean think about it. You have an ASIC that can earn you 2 BTC a day right now (or $900). Are you really going to sell it for just $2k and ship it right now? No. You'll delay it until it's no longer as profitable and then ship it. Otherwise you're throwing away money, and nobody is the wiser anyways because it's become the norm to delay over and over.

These people must have made millions of USD by mining on their customers ASICs. Avalon claims to have sold mining equipment worth over 9,000 TH/s. Even if we imagine 6 months of mining, they must have got at least BTC90,000. That is equal to $40,500,000 at current exchange rates.

Plus when you're done mining, you still get 100% of the money you were supposed to get anyways (which puts you in the profit as it is) since you let the hardware go and just claim there was a delay. The buyers then end up with hardware that won't ROI and the company gets all the BTC they mined PLUS they get more money than the hardware is worth.

That is the "great" and "fair" distribution model on which bitcoin is based and that gives the poor people the possibility to get their hands on bitcoin without having to enrich some greedy early adopter.

What a joke!

NXT is the future!
ranlo
legendary
Activity: 1974
Merit: 1007
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 03:37:31 AM
#63
Quote from: bryant.coleman on May 19, 2014, 03:33:00 AM
Quote from: ranlo on May 19, 2014, 03:22:09 AM
Those were exactly who I had in mind when I made that statement. I'm sure other companies do it as well, though, and just aren't as transparent (or, rather, haven't gotten caught). I mean think about it. You have an ASIC that can earn you 2 BTC a day right now (or $900). Are you really going to sell it for just $2k and ship it right now? No. You'll delay it until it's no longer as profitable and then ship it. Otherwise you're throwing away money, and nobody is the wiser anyways because it's become the norm to delay over and over.

These people must have made millions of USD by mining on their customers ASICs. Avalon claims to have sold mining equipment worth over 9,000 TH/s. Even if we imagine 6 months of mining, they must have got at least BTC90,000. That is equal to $40,500,000 at current exchange rates.

Plus when you're done mining, you still get 100% of the money you were supposed to get anyways (which puts you in the profit as it is) since you let the hardware go and just claim there was a delay. The buyers then end up with hardware that won't ROI and the company gets all the BTC they mined PLUS they get more money than the hardware is worth.
bryant.coleman
legendary
Activity: 3654
Merit: 1217
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 03:33:00 AM
#62
Quote from: ranlo on May 19, 2014, 03:22:09 AM
Those were exactly who I had in mind when I made that statement. I'm sure other companies do it as well, though, and just aren't as transparent (or, rather, haven't gotten caught). I mean think about it. You have an ASIC that can earn you 2 BTC a day right now (or $900). Are you really going to sell it for just $2k and ship it right now? No. You'll delay it until it's no longer as profitable and then ship it. Otherwise you're throwing away money, and nobody is the wiser anyways because it's become the norm to delay over and over.

These people must have made millions of USD by mining on their customers ASICs. Avalon claims to have sold mining equipment worth over 9,000 TH/s. Even if we imagine 6 months of mining, they must have got at least BTC90,000. That is equal to $40,500,000 at current exchange rates.
ranlo
legendary
Activity: 1974
Merit: 1007
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 03:22:09 AM
#61
Quote from: bryant.coleman on May 19, 2014, 03:18:11 AM
Quote from: ranlo on May 19, 2014, 03:06:36 AM
Not to mention you can mine with them until they are no longer profitable and then sell them as "new." Just like the other ASIC companies!

Both Avalon and BFL were famous for that. Feels bad for the poor customers.

http://www.coindesk.com/avalon-accused-of-mining-with-customer-asics/

Those were exactly who I had in mind when I made that statement. I'm sure other companies do it as well, though, and just aren't as transparent (or, rather, haven't gotten caught). I mean think about it. You have an ASIC that can earn you 2 BTC a day right now (or $900). Are you really going to sell it for just $2k and ship it right now? No. You'll delay it until it's no longer as profitable and then ship it. Otherwise you're throwing away money, and nobody is the wiser anyways because it's become the norm to delay over and over.
bryant.coleman
legendary
Activity: 3654
Merit: 1217
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 03:18:11 AM
#60
Quote from: ranlo on May 19, 2014, 03:06:36 AM
Not to mention you can mine with them until they are no longer profitable and then sell them as "new." Just like the other ASIC companies!

Both Avalon and BFL were famous for that. Feels bad for the poor customers.

http://www.coindesk.com/avalon-accused-of-mining-with-customer-asics/
ranlo
legendary
Activity: 1974
Merit: 1007
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 03:06:36 AM
#59
Quote from: bryant.coleman on May 19, 2014, 03:03:37 AM
Quote from: ranlo on May 19, 2014, 02:41:55 AM
It'd be better to invest in an ASIC creation company rather than mining itself. It's much more profitable, as we've seen.

Definitely. What wait for 12 to 18 months to get your ASICs (in some cases you may never receive them), when you can build them with your own money? Much better option.

Not to mention you can mine with them until they are no longer profitable and then sell them as "new." Just like the other ASIC companies!
bryant.coleman
legendary
Activity: 3654
Merit: 1217
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 03:03:37 AM
#58
Quote from: ranlo on May 19, 2014, 02:41:55 AM
It'd be better to invest in an ASIC creation company rather than mining itself. It's much more profitable, as we've seen.

Definitely. What wait for 12 to 18 months to get your ASICs (in some cases you may never receive them), when you can build them with your own money? Much better option.
hensi
member
Activity: 70
Merit: 10
TheSlimShady
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 02:44:19 AM
#57
Quote from: bryant.coleman on May 19, 2014, 02:05:54 AM
Quote from: hensi on May 19, 2014, 01:53:10 AM
well i would have invested 21million in buying btcs.

That depends. Some people view Bitcoin as an investment, while others view it as a currency. Li Ka Shing belongs to the latter category. No one stashes up a currency. Intelligent people would rather invest in currency-related services. That is just what Li Ka Shing did.
Who is Li Ka Shing? and it doesnt matter where and how you invest, its just that your investment shud bring you profits and profits are the thing that make people intelligent
ranlo
legendary
Activity: 1974
Merit: 1007
Re: Richest dude in Asia, going hard on Bitcoin
May 19, 2014, 02:41:55 AM
#56
Quote from: Crindon on May 19, 2014, 02:38:14 AM
Actually, just having north of $800,000,000 would be a good amount to use on Bitcoin. It could buy out a lot of Bitcoin, but it wouldn't be able to buy out everything that is available now. I would probably use a large amount and get Bitcoin and use the rest on an ASIC farm of sorts.

It'd be better to invest in an ASIC creation company rather than mining itself. It's much more profitable, as we've seen.
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