Topic: Those who deny that BTC will rise to seven figures: clearly explain yourselves - page 5. (Read 8191 times)
August 28, 2013, 03:57:34 PM
Why is the burden squarely on the bears? What is the basis for your position, OP?
August 28, 2013, 03:54:55 PM
I don't have to explain myself.
This is entirely consistent with your posting history, which is why I see you as an utter joke and wonder whether you're merely a butthurt establishment fanboy or someone who is being compensated in some way.
Butthurt usually is diagnosed on the one making the insults.
August 28, 2013, 03:52:15 PM
I don't have to explain myself.
This is entirely consistent with your posting history, which is why I see you as an utter joke and wonder whether you're merely a butthurt establishment fanboy or someone who is being compensated in some way.
August 28, 2013, 03:49:29 PM
August 28, 2013, 03:48:48 PM
It does not matter:
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
lol what?
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
The NWO will decide that all the money before that period and the satoshi risk is enough reason to fork the protocol and change the private key of all the <3 years, right before they joined the game.
They will probably add "two or three" other "small" changes "not that important".
They will compensate first bitcoin adventurers with a statue of satoshi in a detroit square.
WE are the NWO
August 28, 2013, 03:43:16 PM
I don't have to explain myself.
August 28, 2013, 03:37:23 PM
It does not matter:
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
lol what?
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
The NWO will decide that all the money before that period and the satoshi risk is enough reason to fork the protocol and change the private key of all the <3 years, right before they joined the game.
They will probably add "two or three" other "small" changes "not that important".
They will compensate first bitcoin adventurers with a statue of satoshi in a detroit square.
WE are the NWO
August 28, 2013, 03:36:23 PM
It does not matter:
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
lol what?
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
The NWO will decide that all the money before that period and the satoshi risk is enough reason to fork the protocol and change the private key of all the <3 years, right before they joined the game.
They will probably add "two or three" other "small" changes "not that important".
They will compensate first bitcoin adventurers with a statue of satoshi in a detroit square.
August 28, 2013, 03:04:13 PM
I chose "other" for the same reason we don't keep track of the exchange rate of puka shells to the dollar.
August 28, 2013, 03:01:24 PM
Bitcoin goes to 0.001USD
Another Crypto goes in to at least 5 digits.
Another Crypto goes in to at least 5 digits.
August 28, 2013, 02:55:58 PM
The missing qualifier to this train of thought is - in today's money.
My hand-calculations got me close enough to accept/use the infamous $300,000 rpietila estimate as a long term value. But that estimate relies on two unknowns:
-The future growth in the number of accepted and used cryptocurrencies.
-The inflation relative to today's value of fiat dollars.
Net global worth is relatively fixed, so we're really discussing what percentage of global net worth will ultimately end up in Bitcoin.
Things get fuzzy when the question-asker(s) don't specify/don't know whether they mean Bitcoin or all cryptocurrencies, or today-money or future-value-money.
My hand-calculations got me close enough to accept/use the infamous $300,000 rpietila estimate as a long term value. But that estimate relies on two unknowns:
-The future growth in the number of accepted and used cryptocurrencies.
-The inflation relative to today's value of fiat dollars.
Net global worth is relatively fixed, so we're really discussing what percentage of global net worth will ultimately end up in Bitcoin.
Things get fuzzy when the question-asker(s) don't specify/don't know whether they mean Bitcoin or all cryptocurrencies, or today-money or future-value-money.
Here is my take:
The value of the bitcoin supply will be the sum of the holding preferences of all users. With holding preference I mean what value some person would like to have available as cash, measured in real good. For instance the value of one house plus the value of one car. Anything really, that was just an example.
But it is not so easy as dividing that by 21 million. It has to be adjusted for credit. In the fiat system, credit accounts for the major part of the money supply. But again, credit in bitcoin might be less, since it is possible to not deposit into banks, and remote payments can be done without deposit accounts.
August 28, 2013, 02:18:12 PM
It does not matter:
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
lol what?
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
The NWO will decide that all the money before that period and the satoshi risk is enough reason to fork the protocol and change the private key of all the <3 years, right before they joined the game.
They will probably add "two or three" other "small" changes "not that important".
They will compensate first bitcoin adventurers with a statue of satoshi in a detroit square.
August 28, 2013, 02:15:09 PM
It does not matter:
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
Who will conduct this attack?
August 28, 2013, 02:14:18 PM
The missing qualifier to this train of thought is - in today's money.
My hand-calculations got me close enough to accept/use the infamous $300,000 rpietila estimate as a long term value. But that estimate relies on two unknowns:
-The future growth in the number of accepted and used cryptocurrencies.
-The inflation relative to today's value of fiat dollars.
Net global worth is relatively fixed, so we're really discussing what percentage of global net worth will ultimately end up in Bitcoin.
Things get fuzzy when the question-asker(s) don't specify/don't know whether they mean Bitcoin or all cryptocurrencies, or today-money or future-value-money.
My hand-calculations got me close enough to accept/use the infamous $300,000 rpietila estimate as a long term value. But that estimate relies on two unknowns:
-The future growth in the number of accepted and used cryptocurrencies.
-The inflation relative to today's value of fiat dollars.
Net global worth is relatively fixed, so we're really discussing what percentage of global net worth will ultimately end up in Bitcoin.
Things get fuzzy when the question-asker(s) don't specify/don't know whether they mean Bitcoin or all cryptocurrencies, or today-money or future-value-money.
August 28, 2013, 02:13:03 PM
It does not matter:
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
lol what?
August 28, 2013, 02:11:05 PM
It does not matter:
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
The NWO will decide that all the money before that period and the satoshi risk is enough reason to fork the protocol and change the private key of all the <3 years, right before they joined the game.
They will probably add "two or three" other "small" changes "not that important".
They will compensate first bitcoin adventurers with a statue of satoshi in a detroit square.
There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
The NWO will decide that all the money before that period and the satoshi risk is enough reason to fork the protocol and change the private key of all the <3 years, right before they joined the game.
They will probably add "two or three" other "small" changes "not that important".
They will compensate first bitcoin adventurers with a statue of satoshi in a detroit square.
August 28, 2013, 02:07:42 PM
The poll question specifically addresses those who do not believe.
It was more of a free bump than anything because I would like to know too. 
August 28, 2013, 02:07:18 PM
The poll question specifically addresses those who do not believe.
Fair enough: strike my vote out if you wish, for I'm no bear.
August 28, 2013, 02:04:07 PM
The poll question specifically addresses those who do not believe.
August 28, 2013, 02:01:32 PM
All of the above are possible, arguably with the exception of fiat lasting forever.
I'm actually not a "denier" (gosh don't we sound so cultish?) in that I'm about as bullish as they come. But I consider the downside risk very real - one key reason why we're not trading in four, five or six figures already - and it is not beyond conceivability that a new cryptocurrency could take over bitcoin. However, it seems fairly unlikely at this juncture, as whatever protocol/efficiency/scalability/etc. improvements this new altcoin might provide can be implemented in Bitcoin.
I'm actually not a "denier" (gosh don't we sound so cultish?) in that I'm about as bullish as they come. But I consider the downside risk very real - one key reason why we're not trading in four, five or six figures already - and it is not beyond conceivability that a new cryptocurrency could take over bitcoin. However, it seems fairly unlikely at this juncture, as whatever protocol/efficiency/scalability/etc. improvements this new altcoin might provide can be implemented in Bitcoin.
Jump to: