Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18878. (Read 26656860 times)

there turds smells like flowers

:-D

Well, with enough 500$ sold bitcoins, they might afford http://www.webmd.com/infertility-and-reproduction/features/womb-rent-surrogate-mothers-india

(12,000$ for a baby from your own DNA)

I have no idea. As none else has, if they do they lie :-) Best to not be wrong is not give predictions! But i enjoy the subject, so here are a few thoughts, i try to be TLDR;

If You saw that graph from my post, you have seen the potential wealth to growth "from". I can only say what Satoshi said about the 20 years volume (either HUGE, or zero), and volume derives from utility, and utility is a strong indicator of value in any asset class (or currency if that matters). As i have said in my angry rant, a 10.000$/BTC would be still less than 200 billion usd market cap today, which is laughably still nothing, a small mid-east country's yearly GDP with 5 million population, trading effectively raw cotton and some minerals. Nothing.

My point is: 99,9% of the populace could not imagine any useful mass usage in the first DECADE of their time for electricity/combustion engine/computers/internet, and see how most of us would literally die without them today.

To answer your question :-)

I can only say a ratio of BTC versus other store of value assets; i call it the lag of knowledge spread: mass psychosis fueled by both media and daily p2p interactions, greed, FOMO, sudden surge in "i should check this bitcoin thing out" will multiply adoption (hodlers and day-to-day users) by 100-1000 folds by 2020-2025. That is my prediction based on every other similar technology, minus the 2 important facts that: bitcoin can be money, and money is 2nd only to sex for "things worth killing for"; and the physical infrastructure is already layed down - oh and also, concurring currencies are a zero sum system. I mean, people can only have one of these combinations of any two currency with a finite purchasing power:
0-100, anything between 1-99, and 100-0, so when the perceived equilibrium is breached, it is an avalanche effect for the one below the threshold, for none wants to remain in the "dying" currency). From today's 0,004% M2 we should reach up to 0,4%-4% realistically in 10 years.

 It does not necessarily means 100-1000x price increase ( i would say more, because it is a self reinforcing, exponentially (cost= N, benefit=N square) increasing network effect, but we must also count in non mathematical elements, like politics, perceptions,  which are the exact opposites of economic rationality.

edit: that meant to be 100-1000, but a bit too much whine (the red liquid one, not the angry:)

>grandchildren
Doesn't that usually involve a human female?

Agree. I start to realize, that most people posting mindless stuff around the forum (or r/Bitcoin) never even bothered to read/understand the White Paper - and surprisingly, this beloved Wall Observer is one of the best posting crowd (sic) around here, well except for the Technical Discussion part :-) . And they call themselves "investors".

Nor the "investors" ever visited a meet up/conference/ in person/online, watched a bitcoin tutorial like the Blackboard series, listened to a podcast like LetsTalkBTC, amused by an awesome Andreas speech, or even has any background knowledge about economics, finance, or the history of STEM.

Weird, so many will (not) telling the sad story to their grandchildren about the bitcoins he sold at 600$ back in 40 years ago, never could afford to buy back, while it could buy them something like an island for every offspring in the future today...

Cromulent, embiggening stuff. I laughed, I cried, I pooped myself a little.

@Jimbo: Oxymoron, isn't that the guy trying to boot percs?

Bear logic? Isn't that an oxymoron?

Well said and totally agree.

Thanks for sharing this post with us, AZwarel. Appreciated

Would you please tell us where you see Bitcoin in terms of price in the coming 10 - 15 years ?

Thanks again

oops dump

I think guys like these are everywhere here and they're lost causes. They'll sell at $500-600 something. If that's the limits of their comprehension then so be it.

That reminds me, i got a bit frustrated in another post about the ignorance how many can not fathom something like even 10k$/btc, like EVER (lol) -i wonder what they are doing here than - and replied this:

The great psychological resistance @460. Once broken tho, smooth rocketing all the way to ... oh, 460.5, at least

Yes, this is ridiculous, unless something is fishy with the order book of the market leader, we should be already above 500$, yet we are not...

this is ridiculous, pop over 460 already.

Point taken. Bitfinex chose to follow the Chinese market leader, despite this:



I later opened a small long at 452$ and closed it a bit higher, I believe the market is now forming a triangle, and I'll buy back if it breaks up (but hope it will break down  ).

That doesn't really sound like "bear logic".    Yeah, sure, even bears should recognize trends and difficulties going against trends, but predicting $700 after a dip seems a bit out of bear logic territory....

Next thing you know, after we do the little $700 cycle, you, Mr. Bear, will be predicting $10k... 

https://twitter.com/SpondooliesTech/status/729268787120353280

So long, and thanks for all the fish

Are you really accounting for all of your costs? 

In my accounting I count everything related to BTC - for example some credit card fees that I may have suffered due to my cashflow issues (and I am buying BTC), the fees get counted as BTC related.... Anyhow, with the amount of money that you have invested, in total, especially various mining costs, can you say that mining was probably a let down.. partly based on electricity costs, but also probably, you would need a lot larger operations to be really competitive with other larger scale miner operations?

I am taking it as a kind of given that probably, you would have had more BTC with that money you invested in mining operations, and probably your BTC portfolio would be in a better position... .. hindsight is 20/20, no?   I am sure there is a bit of value with the learning experience from mining, too, no?

BTC price looking great. Looks like people are just waiting for a pullback to jump in all the time.

Halving is going to be interesting. I expect a big red candle on that day since it's way too obvious.