This forum is full of future millionaires

okthen

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Quote from: Biodom on June 09, 2014, 05:22:38 PM

Quote from: feverpitch on June 09, 2014, 12:43:35 AM

I just can't fathom the free-market allowing thousands of crypto-currency early investors the ability to become millionaires (fiat), but I hope Im wrong.

Why not, there were 29 million millionaires already in the world in 2012, probably more now. What a few thousands more?
Total wealth was 223 trillion in 2012.

It's just with any other innovation.
Think of all the domain investors. There will always be stuff happening which generates a big bunch of millionaires at a time.

Biodom

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Quote from: feverpitch on June 09, 2014, 12:43:35 AM

I just can't fathom the free-market allowing thousands of crypto-currency early investors the ability to become millionaires (fiat), but I hope Im wrong.

Why not, there were 29 million millionaires already in the world in 2012, probably more now. What a few thousands more?
Total wealth was 223 trillion in 2012.

silversmith

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Some will hold their bitcoins through all the ups and downs the future will surely bring. They will be millionaires.

But most will sell when the price rises to $1000 or $2000 or $5000. Then they will write a post about how they wish they wouldn't have sold and how they would have been millionaires if they had only held on or bought more when the price was "only" $650.

Parazyd

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Space Lord

Quote from: Wilhelm on June 09, 2014, 07:02:59 AM

Quote from: MICRO on June 09, 2014, 06:47:22 AM

Quote from: ajareselde on June 09, 2014, 06:44:04 AM

bitcoin price can, and probably will surge, main reason is more and more spread, and the fact on hard cap of 21 mill btc.
and dont forget one thing also; every day there are btcs sent to wrong adress that will never be claimed, they are lost for good, making the supply even smaller, and then there are wallets lost/destroyed and so on..
when another halving happens, its gonna storm money, so sticking to crypto seams pretty smart, even with those price drops we see now and then

cheers

Bitcoin can be divided to a single satpshi and o think there is enough satoshis for everybody.

If 1 satoshi becomes $1.000.000 we can always edit the client to allow nanosatoshisi transactions, there is no theoretical divisability limit to bitcoin....

Here's a nice read for you: https://en.bitcoin.it/wiki/Tonal_Bitcoin
Courtesy of luke-jr.

Wilhelm

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Quote from: MICRO on June 09, 2014, 06:47:22 AM

Quote from: ajareselde on June 09, 2014, 06:44:04 AM

bitcoin price can, and probably will surge, main reason is more and more spread, and the fact on hard cap of 21 mill btc.
and dont forget one thing also; every day there are btcs sent to wrong adress that will never be claimed, they are lost for good, making the supply even smaller, and then there are wallets lost/destroyed and so on..
when another halving happens, its gonna storm money, so sticking to crypto seams pretty smart, even with those price drops we see now and then

cheers

Bitcoin can be divided to a single satpshi and o think there is enough satoshis for everybody.

If 1 satoshi becomes $1.000.000 we can always edit the client to allow nanosatoshisi transactions, there is no theoretical divisability limit to bitcoin....

MICRO

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CEO @ Stake.com and Primedice.com

Quote from: ajareselde on June 09, 2014, 06:44:04 AM

bitcoin price can, and probably will surge, main reason is more and more spread, and the fact on hard cap of 21 mill btc.
and dont forget one thing also; every day there are btcs sent to wrong adress that will never be claimed, they are lost for good, making the supply even smaller, and then there are wallets lost/destroyed and so on..
when another halving happens, its gonna storm money, so sticking to crypto seams pretty smart, even with those price drops we see now and then

cheers

Bitcoin can be divided to a single satpshi and o think there is enough satoshis for everybody.

ajareselde

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Satoshi is rolling in his grave. #bitcoin

bitcoin price can, and probably will surge, main reason is more and more spread, and the fact on hard cap of 21 mill btc.
and dont forget one thing also; every day there are btcs sent to wrong adress that will never be claimed, they are lost for good, making the supply even smaller, and then there are wallets lost/destroyed and so on..
when another halving happens, its gonna storm money, so sticking to crypto seams pretty smart, even with those price drops we see now and then

cheers

MICRO

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CEO @ Stake.com and Primedice.com

Quote from: Justin00 on June 09, 2014, 04:12:35 AM

I really wonder how many people are millionaires.. sure there are some.. but i bet most would of been but sold ages ago.. as i did lol...
if only someone invented a time machine Sad

Haha... We all woulg go back to 2010 . Cheesy

.
I think many pople did already bocome milioners.

Justin00

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I really wonder how many people are millionaires.. sure there are some.. but i bet most would of been but sold ages ago.. as i did lol...
if only someone invented a time machine Sad

MICRO

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Quote from: feverpitch on June 09, 2014, 12:43:35 AM

I just can't fathom the free-market allowing thousands of crypto-currency early investors the ability to become millionaires (fiat), but I hope Im wrong.

Whats there to alow ? Bitcoin is independent, who was smart he got on a train and become milionare already. Now we, not so early adopters hope there is still chance for us. Since still not so much people use it, we can still be early adopters.

feverpitch

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I just can't fathom the free-market allowing thousands of crypto-currency early investors the ability to become millionaires (fiat), but I hope Im wrong.

KonstantinosM

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Life is a taxable event

My 2 cents would be to hold at least 10 Bitcents somewhere and if this takes off you're going to be looking at quite a sum.

If you're being ambitious you don't even need anything more than a single bitcoin.

is 600 bucks worth it? I say yes!

okthen

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Quote from: pinksheep on June 08, 2014, 05:19:00 PM

Quote from: jonald_fyookball on June 08, 2014, 05:12:44 PM

Quote from: pinksheep on June 08, 2014, 04:38:55 PM

I'd need a much higher market cap to make me a millionaire too (and that's not taking into account the tax I'd have to pay on my profits) Sad

You'd need 21.27 BTC to make $1m USD at that Apple market cap.

You would only owe tax on what you spend or sell.

Surely you wouldn't convert your coins back to fiat just to have $1M in paper money, would you?

No, but I want to build a nice house, so I'd have to pay tax when I go to do that.

And anyway, being a millionaire is not so much these days.
A nice house would already be a big chunk of it...

Benjig

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Quote from: pinksheep on June 08, 2014, 09:42:27 AM

Well the only 'shoulda' I'll be saying is 'I shouldn't have bought so many' if it all goes wrong, but I'd rather lose a few thousands than know I'd missed out on the chance of hundreds of thousands or even millions. The downside is definitely limited but the upside sure isn't

Yes the relation risk-benefit is on our side, we can lose lets say 50% of our investment but if it goes up, it will go up 10x or even 100 times multiplied our bitcoins. Grin

pinksheep

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Quote from: jonald_fyookball on June 08, 2014, 05:12:44 PM

Quote from: pinksheep on June 08, 2014, 04:38:55 PM

I'd need a much higher market cap to make me a millionaire too (and that's not taking into account the tax I'd have to pay on my profits) Sad

You'd need 21.27 BTC to make $1m USD at that Apple market cap.

You would only owe tax on what you spend or sell.

Surely you wouldn't convert your coins back to fiat just to have $1M in paper money, would you?

No, but I want to build a nice house, so I'd have to pay tax when I go to do that.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: pinksheep on June 08, 2014, 04:38:55 PM

I'd need a much higher market cap to make me a millionaire too (and that's not taking into account the tax I'd have to pay on my profits) Sad

You'd need 21.27 BTC to make $1m USD at that Apple market cap.

You would only owe tax on what you spend or sell.

Surely you wouldn't convert your coins back to fiat just to have $1M in paper money, would you?

pinksheep

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I'd need a much higher market cap to make me a millionaire too (and that's not taking into account the tax I'd have to pay on my profits) Sad

You'd need 21.27 BTC to make $1m USD at that Apple market cap.

okthen

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Quote from: DolanDuck on June 08, 2014, 03:57:48 PM

If the market cap of bitcoins will equal the Apple one, its value will be around 47000$ therefore we are really future millionaires

I'd need a much higher market cap...
But Apple's would already make me quite happy!

pinksheep

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Quote from: DolanDuck on June 08, 2014, 03:57:48 PM

If the market cap of bitcoins will equal the Apple one, its value will be around 47000$ therefore we are really future millionaires

And how likely is it that it will one day (hopefully in the not too distant future) equal the market cap of Apple?

DolanDuck

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If the market cap of bitcoins will equal the Apple one, its value will be around 47000$ therefore we are really future millionaires

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