Seems like I have read this before. Oh I know, just replace 10k with $1 and 1000 with $0.10.
And replace 1M with 1000. And so on?
Topic: Today BTC = $800, $9200 to go and why 10 BTC will never make you rich - page 6. (Read 8308 times)
January 27, 2014, 10:18:13 AM
And replace 1M with 1000. And so on?
January 27, 2014, 10:16:44 AM
The smell of cult is strong in this one.
''Only true believers shall profit, hodl!!''
Some of you hodlers make bitcoin look like a ponzi scheme. Tone it down.
''Only true believers shall profit, hodl!!''
Some of you hodlers make bitcoin look like a ponzi scheme. Tone it down.
January 27, 2014, 10:09:16 AM
Seems like I have read this before. Oh I know, just replace 10k with $1 and 1000 with $0.10.
January 27, 2014, 10:08:21 AM
You are assuming all those "hodlers" will never cash out any BTC somewhere along the way like many did in the past.
Although I am skeptical about the price reaching $10-100k in the near future (<12 months), in late 2012 I would never have believed that the price would attain even $100 within the next few months.
I wouldn't concentrate on the market cap too much, there are companies with a market cap 10-20-50x that of BTC, and BTC is not just "a company" but a concept to be used by many.
Also yeah, if you live in an expensive area or are used to high standards, you may need to spend 100 BTC @ $10k to buy a house and a car but you could easily spend several times less than that.
Although I am skeptical about the price reaching $10-100k in the near future (<12 months), in late 2012 I would never have believed that the price would attain even $100 within the next few months.
I wouldn't concentrate on the market cap too much, there are companies with a market cap 10-20-50x that of BTC, and BTC is not just "a company" but a concept to be used by many.
Also yeah, if you live in an expensive area or are used to high standards, you may need to spend 100 BTC @ $10k to buy a house and a car but you could easily spend several times less than that.
January 27, 2014, 10:04:51 AM
I don't see this situation any different than what we have currently with fiat money. A small number of families control and own everything. Think of it just as redistribution of wealth, the pyramid still remains.
January 27, 2014, 09:53:01 AM
So, we currently are at $800. We need 9200 more dollars to reach $10,000 pe coin.
Given the current stagnation, last year's boom and overall bitcoin's performance, how much longer do you think it will take to reach 10,000? I am skeptical it will ever go to that amount. I would be very happy if we get again to 1000 and stay there for quarter.
There are some cases of people that preach 100k USD for one BTC, and even 300k. I think it's just delusional. Just think of this: Too many coins are in the hands of just a few people. A price of let's say, even 10,000 will make the 1k BTC holder worth 100 million USD.
But, a current BTC holder of 10 BTC will have what? 1 MIL USD? That's nothing. Good money of course, but much more are being made with hardworking companies. I know a small cheap jewelry store chain, (average price 20 USD, 5 stores) that's worth about that.
So, we can conclude that even if the price will be 10,000 all those 1 BTC holders will have only some money for a nice trip, 10 BTC holders can pay their debt, and those 100 (which are even rarer) can buy a home, a car, and do some diversification.
Mathematically, a price of 300,000 would pay off quite good even for the 1 BTC holder, but the market cap would be immense, almost unreachable. And those current rich guys will be even richer.
Given the current stagnation, last year's boom and overall bitcoin's performance, how much longer do you think it will take to reach 10,000? I am skeptical it will ever go to that amount. I would be very happy if we get again to 1000 and stay there for quarter.
There are some cases of people that preach 100k USD for one BTC, and even 300k. I think it's just delusional. Just think of this: Too many coins are in the hands of just a few people. A price of let's say, even 10,000 will make the 1k BTC holder worth 100 million USD.
But, a current BTC holder of 10 BTC will have what? 1 MIL USD? That's nothing. Good money of course, but much more are being made with hardworking companies. I know a small cheap jewelry store chain, (average price 20 USD, 5 stores) that's worth about that.
So, we can conclude that even if the price will be 10,000 all those 1 BTC holders will have only some money for a nice trip, 10 BTC holders can pay their debt, and those 100 (which are even rarer) can buy a home, a car, and do some diversification.
Mathematically, a price of 300,000 would pay off quite good even for the 1 BTC holder, but the market cap would be immense, almost unreachable. And those current rich guys will be even richer.
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