The maximum possible value of Bitcoins compared to fiat - page 2.

Peter R

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Quote from: piramida on December 26, 2013, 04:53:49 PM

Quote from: ElectricMucus on December 26, 2013, 04:47:00 PM

And you ain't rich if you haven't sold.

you can sell a little to cover your expenses. there is absolutely no point in cashing out from an appreciating asset into an asset on the brink of collapse.

glad that you are amuzed. at least that you can do since it's free Wink

I don't understand many posters' (like EM) fixation on selling all of their bitcoins. Just like you don't have to invest $100,000 (you can start with 50 bucks!), you don't have to sell out all your bitcoins in order to benefit.

I think it is generally agreed that if you believe in the long term prospects of bitcoin, it is wise to follow a disciplined divestment strategy such as Risto's SSS plan (https://bitcointalksearch.org/topic/sss-a-sane-and-simple-bitcoin-savings-plan-345065). This way you can both extract money to enjoy your life as the price rises, while mathematically ensuring that you retain a sufficient amount of bitcoins should bitcoin become a major global currency.

Even those who purchased this summer have already re-couped more than their initial cash investments following this simple plan (while still retaining most of their coins). Now they can more-easily emotionally detach from the price swings and enjoy the ride.

ElectricMucus

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Well do you cover your expenses with your profits or not?

piramida

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Borsche

let's just say that my expenses can't keep up with the way bitcoin is appreciating in value. rich is relative, to some only top-10 forbes is rich. to me, doing only what *you* want is rich enough.

ElectricMucus

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The question is how large are your expenses or better yet if they are in tune with somebody claiming to be "rich"...

piramida

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Borsche

Quote from: ElectricMucus on December 26, 2013, 04:47:00 PM

And you ain't rich if you haven't sold.

you can sell a little to cover your expenses. there is absolutely no point in cashing out from an appreciating asset into an asset on the brink of collapse.

glad that you are amuzed. at least that you can do since it's free Wink

ElectricMucus

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Or if not you'd be one of the subjects of my amusement. In a way you already are.
Both of you. Grin

Ibian

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Quote from: piramida on December 26, 2013, 04:43:54 PM

Quote from: ElectricMucus on December 26, 2013, 04:34:00 PM

If I had the coins form back then and would plan on keeping them I wouldn't be busy cheering up uP UP on the forum either

We're just here because we are so rich that we don't have to work anymore. I take 5 minutes between beach and other pleasures to troll some bear on here while setting some orders. Why you are here, I honestly have no idea, you don't even trade.

This actually is what I plan to be doing about a year from now if things continue as they have. Will be interesting to see how many old faces are still preaching doom and gloom by then.

ElectricMucus

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Quote from: piramida on December 26, 2013, 04:43:54 PM

Quote from: ElectricMucus on December 26, 2013, 04:34:00 PM

If I had the coins form back then and would plan on keeping them I wouldn't be busy cheering up uP UP on the forum either

We're just here because we are so rich that we don't have to work anymore. I take 5 minutes between beach and other pleasures to troll some bear on here while setting some orders. Why you are here, I honestly have no idea, you don't even trade.

I do trade. And you ain't rich if you haven't sold.

piramida

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Borsche

Quote from: ElectricMucus on December 26, 2013, 04:34:00 PM

If I had the coins form back then and would plan on keeping them I wouldn't be busy cheering up uP UP on the forum either

We're just here because we are so rich that we don't have to work anymore. I take 5 minutes between beach and other pleasures to troll some bear on here while setting some orders. Why you are here, I honestly have no idea, you don't even trade.

ElectricMucus

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Well if I'd be doing that I would have cashed out too wouldn't I? That's the point everybody has to cash out at some point. And I know one thing: If I had the coins form back then and would plan on keeping them I wouldn't be busy cheering up uP UP on the forum either. So what's more pathetic, a missed opportunity or no opportunity at all?

I think we all know the answer. Ask yourself why I am still around? Well what has become out of this little experiment has become amusing, it's own little drama. If it weren't for figures like Bruce Wagner, pirateat40 and DPR I would have left a long time ago. Things keep happening, and once in a while I buy back a little and dump it on the next sucker for a higher price, I continue to make a little cash, and if Bitcoin goes to zero tomorrow for whatever reason I still have made my share off people like you.

Ibian

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Dude you are pathetic. And no, you didn't get something for nothing, you are forgetting electricity and wear and tear. Why aren't you rich if you discovered it that early? Why aren't you busy cruising the caribbean or traveling the world instead of trolling a forum? Even if you are poor in spite of opportunities, at least get a fucking life.

ElectricMucus

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Quote from: windjc on December 23, 2013, 08:14:39 PM

Quote from: ElectricMucus on December 23, 2013, 05:30:27 PM

Quote from: zoinky on December 23, 2013, 05:28:26 PM

Quote from: accord01 on December 23, 2013, 12:40:50 PM

there's not much more room for bitcoin to go. Next level is regulation and mainstream (which defeats the purpose of its existence anyway), which is a huge step forward. 40% of americans already know what it is. Ask someone on the street if they think bitcoin is a big deal. Answer is NO.

So the dilemna with bitcoin is that for its price to skyrocket it has to abandon its roots. Basically, bitcoin is kind of like a joke right now.

40% of Americans know what it is, or they have heard of it? These are very different statements.

It's basically the same thing.

Electric,

How does it feel to be so obtuse as to have sold all your coins dirt cheap and now know that you could have been a millionaire but instead are a pitiful troll on a bitcoin forum?

Sting much? Or do you just tell yourself that since bitcoin has to sell out to prosper that you were better than that all along?

Bwahahahahahahahahahaa.

Who laughs last laughs best.

When I initially discovered bitcoin it was somewhere in the cents, before bitcointalk with satoshi still around. So right, I could have been a millionaire.
Though when I got around to playing around with it, around the time I registered at the forum it already was past the 2011 peak. I couldn't have been a millionaire after that, so what do you know.

At least I could have had the chance, and I never put anything in besides the coins I mined on my PC, so in a sense I got something for nothing, have you?

Dragonkiller

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Super Smash Bros. Ultimate Available Now!

Quote from: Rygon on December 26, 2013, 02:59:36 PM

At least take a look at the Merrill Lynch analysis:

https://bitcointalksearch.org/topic/2013-12-06-merrill-lynch-report-bitcoin-a-first-assessment-359687

The methology isn't very detailed, but it's logical. Also, it's a lot better than saying "X is worth gazillions, therefore bitcoin will also eventually be worth gazillions"

That valuation is nonsense, they just looked at what the price of bitcoin was at the time and choose figures to get something close to that number. They can't come out and value it at $100,000 when it's $1,000. David Woo or whatever his name was would get laughed out of the office.

Rygon

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At least take a look at the Merrill Lynch analysis:

https://bitcointalksearch.org/topic/2013-12-06-merrill-lynch-report-bitcoin-a-first-assessment-359687

The methology isn't very detailed, but it's logical. Also, it's a lot better than saying "X is worth gazillions, therefore bitcoin will also eventually be worth gazillions"

wachtwoord

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Quote from: TERA on December 23, 2013, 11:12:08 PM

Would you guys stop it with the world domination gdp pipe dream.

No.

silverbox

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Quote from: porcupine87 on December 23, 2013, 08:12:53 PM

Quote from: Ibian on December 23, 2013, 06:45:25 PM

Quote from: silverbox on December 23, 2013, 06:17:01 PM

Total world money supply is ~70 Trillion 2013 USD. 21 million BTC.

70,000,000,000,000 divided by 21,000,000 = 3.33 Million USD per coin.

Max value of BTC is 3.3 million USD each. If it were to entirely replace all fiat on the planet..

Yes and no. If bitcoin is on the whole more useful than fiat, then it could be worth even more. But global bitcoin domination won't happen any time soon if ever. I'm much more comfortable settling for a 100k max for now. I realize the potential is much, much higher going purely by its usefulness compared to alternatives, but there will be resistance along the way. Powerful resistance which we haven't begun to see yet.

Source of 70 trillion world wide? I know that the worlds GDP is near that number and the monetary base is much lower. The USD has a monetary base at maybe 3-4 trillion. The Euro has 2 billions.

M2 to M3ish money supply. Current US M3 is around 12 trillion they don't publish it any more, Euro is around 15 Trillion (USD), China around 15 trillion (USD). The rest of the world is ~30 Trillion. There are a few sources out and about on the web where they try to estimate M2 and M3 World Money supply, its hard to do because of fixed exchange rates (CNY) and hyperinflation scenarios (Zimbabwe). It's in that 50-100 trillion range.

~ means appoximately.

mb300sd

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Drunk Posts

techgeak300

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The moon.

I was thinking total USD/21million but that thinking is wrong.
Your thought on total amount of gold is also wrong because bitcoin is more
than just a commodity. Bitcoin allows for so much more then gold. I am going to say
BTC will easily have a total market cap more than gold+silver.

TERA

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Would you guys stop it with the world domination gdp pipe dream.

Peter R

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Quote from: shmadz on December 23, 2013, 05:51:41 PM

Quote from: ElectricMucus on December 23, 2013, 05:30:27 PM

Quote from: zoinky on December 23, 2013, 05:28:26 PM

Quote from: accord01 on December 23, 2013, 12:40:50 PM

there's not much more room for bitcoin to go. Next level is regulation and mainstream (which defeats the purpose of its existence anyway), which is a huge step forward. 40% of americans already know what it is. Ask someone on the street if they think bitcoin is a big deal. Answer is NO.

So the dilemna with bitcoin is that for its price to skyrocket it has to abandon its roots. Basically, bitcoin is kind of like a joke right now.

40% of Americans know what it is, or they have heard of it? These are very different statements.

It's basically the same thing.

"The same thing?" yeah right. Hearing about bitcoin and knowing about bitcoin are definitely NOT the same thing. This reminds me of some guy who looked over my shoulder while I was standing in line showing my buddy some charts on my phone. Here's how the conversation went down:

- Random guy "oh, you do TA?"
- Me "Not really, I just kinda watch the price."
- My buddy "yeah, he makes bitcoins!"
- Random guy "oh yeah? I heard about that, what's the price at?"
- Me "Thousand bucks"
- Random guy "... and how much you make per day?"
- Me "Only one or two"
- Random guy "..."

at the end of that, the look in his face, I will never forget. I seriously thought he was gonna stab me and try to steal my bitcoins. Lesson learned, I don't mention bitcoin in public anymore.

Funny story!

I have a similar one. Bitcoin came up in a conversation with a young twenty-something guy at my local gym. He's got a bit of a stock trader / young-tycoon personality. He mentioned that he started looking seriously into bitcoin in the summer because he thought he could trade it profitably. He then casually asked what the price is now.

I said "about $1,000" (the price at this time in November).

You should have seen the look on his face! I swear I heard the "bu...bump" his heart made when his brain processed the math.

And EM: there is a world of difference between hearing about bitcoin and knowing about bitcoin. I heard about bitcoin in 2009; I wish I knew about it a lot sooner.

Topic: The maximum possible value of Bitcoins compared to fiat - page 2. (Read 8563 times)