complete redundancy of fiat is a rather extreme scenario
What is the historical track record of fiat currencies in terms of longevity? 
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31635. (Read 26730403 times)
November 29, 2013, 01:56:00 AM
November 29, 2013, 01:54:56 AM
Please the change the poll. Bitcoin has already crossed $1000 
and Gold.... so what's next to vote on?
to reach the number of pages on this post as previously suggested by someone else XD
November 29, 2013, 01:54:45 AM
on top of this i just saw someone post about a major Chinese state owned telecommunications company that started accepting btc on a previous page, $10000 is coming
So is winter. Aw, shit... I just looked out the window. Looks like 10K
who, what is that face?
November 29, 2013, 01:52:15 AM
look im just saying, the only reason why people think btc can go to $10000 is because if enough people start using it so much that it becomes accepted everywhere, such that the only reason why it would be worth $10000 per BTC is because fiat would become essentially redundant or worthless.
I don't think so.
If fiat would become redundant or worthless due to bitcoin success, we would be looking more into $10 000 per mBTC rather than $10 000 per BTC ($10 million per BTC)
But that would be measuring using today's USD purchasing power. If USD becomes worthless and redundant, nobody will give a mBTC even for $10 million... So in this extreme scenario you need to use another unit of value. 1 ounce of gold is quite good.
I don't see fiat becoming redundant tough. That's an extreme scenario.
right well the 10k is just an arbitrary round large number, it has been used a lot before so thats why i was quoting 10k
complete redundancy of fiat is a rather extreme scenario, but the ideas and reasons behind 10k are still relevant due to btc's finite amount 21m
im saying btc would make fiat more redundant than it is now
November 29, 2013, 01:50:39 AM
Please the change the poll. Bitcoin has already crossed $1000
and Gold.... so what's next to vote on?
November 29, 2013, 01:47:23 AM
Please the change the poll. Bitcoin has already crossed $1000
November 29, 2013, 01:45:57 AM
I guess next is ATH BTC=ATH Au then page count parity and beyond!
November 29, 2013, 01:45:39 AM
on top of this i just saw someone post about a major Chinese state owned telecommunications company that started accepting btc on a previous page, $10000 is coming
So is winter. Aw, shit... I just looked out the window. Looks like 10K
November 29, 2013, 01:43:02 AM
@Holiday indicated that parity with gold was reached earlier.
Gold is now just 10 cents higher than BTC all time high.
Gold is now just 10 cents higher than BTC all time high.
November 29, 2013, 01:41:35 AM
look im just saying, the only reason why people think btc can go to $10000 is because if enough people start using it so much that it becomes accepted everywhere, such that the only reason why it would be worth $10000 per BTC is because fiat would become essentially redundant or worthless. With another huge Chinese company, especially a state owned one, shows that this can happen sooner than people expect.
basically fuck the speculators, fuck the greedy assholes that think it can just be a get rich quick scheme and dont fully understand btc. The move to $10000 is irrelevant of them. what will get us to $10000 is real people converting their fiat because btc is better
(ps i know this has been said before but your comment suggests that you dont understand the way to $10000)
Utter shite.
If gold can be worth 7 trillion without anyone spending it, Bitcoin can be worth 500 billion without anyone spending it.
Repeat after me. Bitcoin is a new asset class.
mate if you are such a bear and have no hope for btc then why are you even here
I believe the point is that mass point of sale adoption and mass value asset adoption are not mutually required for one or the other to drive the price up. Bitcoin is many things.
-and among other things mine are kinda lonely
November 29, 2013, 01:41:25 AM
look im just saying, the only reason why people think btc can go to $10000 is because if enough people start using it so much that it becomes accepted everywhere, such that the only reason why it would be worth $10000 per BTC is because fiat would become essentially redundant or worthless.
I don't think so.
If fiat would become redundant or worthless due to bitcoin success, we would be looking more into $10 000 per mBTC rather than $10 000 per BTC ($10 million per BTC)
But that would be measuring using today's USD purchasing power. If USD becomes worthless and redundant, nobody will give a mBTC even for $10 million... So in this extreme scenario you need to use another unit of value. 1 ounce of gold is quite good.
I don't see fiat becoming redundant tough. That's an extreme scenario.
November 29, 2013, 01:40:20 AM
look im just saying, the only reason why people think btc can go to $10000 is because if enough people start using it so much that it becomes accepted everywhere, such that the only reason why it would be worth $10000 per BTC is because fiat would become essentially redundant or worthless. With another huge Chinese company, especially a state owned one, shows that this can happen sooner than people expect.
basically fuck the speculators, fuck the greedy assholes that think it can just be a get rich quick scheme and dont fully understand btc. The move to $10000 is irrelevant of them. what will get us to $10000 is real people converting their fiat because btc is better
(ps i know this has been said before but your comment suggests that you dont understand the way to $10000)
Utter shite.
If gold can be worth 7 trillion without anyone spending it, Bitcoin can be worth 500 billion without anyone spending it.
Repeat after me. Bitcoin is a new asset class.
mate if you are such a bear and have no hope for btc then why are you even here
I can't figure out who you are talking to. Both people you quoted made bullish statements.
November 29, 2013, 01:37:31 AM
look im just saying, the only reason why people think btc can go to $10000 is because if enough people start using it so much that it becomes accepted everywhere, such that the only reason why it would be worth $10000 per BTC is because fiat would become essentially redundant or worthless. With another huge Chinese company, especially a state owned one, shows that this can happen sooner than people expect.
basically fuck the speculators, fuck the greedy assholes that think it can just be a get rich quick scheme and dont fully understand btc. The move to $10000 is irrelevant of them. what will get us to $10000 is real people converting their fiat because btc is better
(ps i know this has been said before but your comment suggests that you dont understand the way to $10000)
Utter shite.
If gold can be worth 7 trillion without anyone spending it, Bitcoin can be worth 500 billion without anyone spending it.
Repeat after me. Bitcoin is a new asset class.
mate if you are such a bear and have no hope for btc then why are you even here
Are you slow or something?
November 29, 2013, 01:36:55 AM
look im just saying, the only reason why people think btc can go to $10000 is because if enough people start using it so much that it becomes accepted everywhere, such that the only reason why it would be worth $10000 per BTC is because fiat would become essentially redundant or worthless. With another huge Chinese company, especially a state owned one, shows that this can happen sooner than people expect.
basically fuck the speculators, fuck the greedy assholes that think it can just be a get rich quick scheme and dont fully understand btc. The move to $10000 is irrelevant of them. what will get us to $10000 is real people converting their fiat because btc is better
(ps i know this has been said before but your comment suggests that you dont understand the way to $10000)
Utter shite.
If gold can be worth 7 trillion without anyone spending it, Bitcoin can be worth 500 billion without anyone spending it.
Repeat after me. Bitcoin is a new asset class.
mate if you are such a bear and have no hope for btc then why are you even here
November 29, 2013, 01:36:23 AM
on top of this i just saw someone post about a major Chinese state owned telecommunications company that started accepting btc on a previous page, $10000 is coming
[/quote]
http://www.reddit.com/r/Bitcoin/comments/1roulj/china_telecom_accepts_bitcoin/
November 29, 2013, 01:34:41 AM
on top of this i just saw someone post about a major Chinese state owned telecommunications company that started accepting btc on a previous page, $10000 is coming
So is winter. Aw, shit... I just looked out the window. Looks like 10K
November 29, 2013, 01:32:13 AM
Now only Paypal will hold it back from 10K mark. And yes; I know it was a Kilogram of gold. How many months away you think we are from making this true?
$40000ish.
I believe that comes out to 16 months when using the cosmic calculator.
on top of this i just saw someone post about a major Chinese state owned telecommunications company that started accepting btc on a previous page, $10000 is coming
November 29, 2013, 01:30:16 AM
China Telecom is accepting Bitcoin.
http://js.189.cn/w2014
http://www.reddit.com/r/Bitcoin/comments/1roulj/china_telecom_accepts_bitcoin/
Third largest telecommunications provider in China, state-owned company...
I believe it's happening, gentlemen.
Edit: From reddit:
http://js.189.cn/w2014
http://www.reddit.com/r/Bitcoin/comments/1roulj/china_telecom_accepts_bitcoin/
Third largest telecommunications provider in China, state-owned company...
I believe it's happening, gentlemen.
Edit: From reddit:
Quote
Also, this is an ad for a special offer, if you spend 500rmb in BTC, you get 1000rmb in subsidized crap or something...(probably the phone)
holy fucking shit we are going to hit $10000 way sooner than expected. the world is turning to btc faster than anyone could have thought, fiat really may become redundant in the not so distant future
Dude, chill. You cannot reasonably expect to go from $1B to $100B market cap in a couple months, it isn't sustainable.
look im just saying, the only reason why people think btc can go to $10000 is because if enough people start using it so much that it becomes accepted everywhere, such that the only reason why it would be worth $10000 per BTC is because fiat would become essentially redundant or worthless. With another huge Chinese company, especially a state owned one, shows that this can happen sooner than people expect.
basically fuck the speculators, fuck the greedy assholes that think it can just be a get rich quick scheme and dont fully understand btc. The move to $10000 is irrelevant of them. what will get us to $10000 is real people converting their fiat because btc is better
(ps i know this has been said before but your comment suggests that you dont understand the way to $10000)
Utter shite.
If gold can be worth 7 trillion without anyone spending it, Bitcoin can be worth 500 billion without anyone spending it.
Repeat after me. Bitcoin is a new asset class.
November 29, 2013, 01:27:40 AM
Now only Paypal will hold it back from 10K mark. And yes; I know it was a Kilogram of gold. How many months away you think we are from making this true?
$40000ish.
I believe that comes out to 16 months when using the cosmic calculator.
November 29, 2013, 01:26:26 AM
@Holiday indicated that parity with gold was reached earlier.
Gold is now just 10 cents higher than BTC all time high.
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