Will there be a bitcoin gold rush? | Bitcointalksearch.org

inca

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Quote from: Robert Paulson on September 26, 2014, 11:56:13 AM

Quote from: inca on September 26, 2014, 11:28:08 AM

Quote from: Robert Paulson on September 26, 2014, 11:23:18 AM

it will happen the day China/Japan refuse to continue rolling over the American debt and demand the principle back.

By principle do you mean freshly printed dollars?

it will have to be freshly printed dollars because there is no other way to pay it back.
you can be sure the Chinese and Japanese will immediately dump those dollars and buy anything that is not hammered down, that's when hyperinflation kicks in.

Whilst in the end that may occur, betting on unfolding disaster is not a great strategy. Hedging against it with scarce commodities such as gold or bitcoin is undoubtedly a safe move though.

Robert Paulson

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Quote from: inca on September 26, 2014, 11:28:08 AM

Quote from: Robert Paulson on September 26, 2014, 11:23:18 AM

it will happen the day China/Japan refuse to continue rolling over the American debt and demand the principle back.

By principle do you mean freshly printed dollars?

it will have to be freshly printed dollars because there is no other way to pay it back.
you can be sure the Chinese and Japanese will immediately dump those dollars and buy anything that is not hammered down, that's when hyperinflation kicks in.

piramida

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Borsche

Quote from: inca on September 26, 2014, 11:28:08 AM

Quote from: Robert Paulson on September 26, 2014, 11:23:18 AM

it will happen the day China/Japan refuse to continue rolling over the American debt and demand the principle back.

By principle do you mean freshly printed dollars?

I don't think it will be accepted in paper - 170 million kilos of freshly printed $100 bills, that should be a scary sight

inca

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Quote from: Robert Paulson on September 26, 2014, 11:23:18 AM

it will happen the day China/Japan refuse to continue rolling over the American debt and demand the principle back.

By principle do you mean freshly printed dollars?

Robert Paulson

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it will happen the day China/Japan refuse to continue rolling over the American debt and demand the principle back.

jjacob

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★Nitrogensports.eu★

Quote from: Fabrizio89 on September 26, 2014, 01:19:56 AM

If it would happen, then it would be the biggest bubble the world has ever seen with disastrous consequences. It would be fun to watch. Cheesy

Agree.. 6 months is too short a time for such a huge shift.
Governments would ensure that such a bubble gets pricked.

JimboToronto

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You're never too old to think young.

Quote from: shawshankinmate37927 on September 25, 2014, 08:47:02 AM

Quote from: SomethingElse on September 25, 2014, 08:19:33 AM

I wonder sometimes that if bitcoin hits a breaking point where the price is growing and growing that many people around the world will be afraid to not invest in it, which will then make the price go even higher and higher. I cold easily see how bitcoin could get 10% of the world's wealth in 6 months in a monster run.

I doubt it will happen in a six month window, perhaps over the next 10 years.

Hey, quit being reasonable.

Don't you know that 6 months is an excruciatingly long time to wait for anything?

Fabrizio89

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If it would happen, then it would be the biggest bubble the world has ever seen with disastrous consequences. It would be fun to watch. Cheesy

ginpalace

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Yes there will. FED is printing like crazy yet dollar velocity is historical low. Economic recovery in US is a joke, just a stock market bubble.

Draghi is saying ECB will do whatever it takes to keep cracking €uro campaign going, meaning more and more debt and QE. They will fail miserably.

At some point these issues escalate. Prepare yourself accordingly.

Bulletin

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That would be awesome, if some billioniers would put some millions in BTC.

BTCfan1

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I have a thought that once one or two savvy billionaires catches on, they will decide to casually toss a few hundred million usd into the pot and try to get as big of a stake they can...that would be good for the price, no?

Twilight_Sparkle

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Some of you guys need to learn how to read. He didn't say that it would happen in the next 6 months, he said at some point we are going to have a bubble in which will last a whole 6 months and that in the aftermath, 10% of the worlds wealth will have been put into bitcoin.

Personally I think so, and here was a article I read that describes it a little bit. http://nakamotoinstitute.org/mempool/hyperbitcoinization/

waterpile

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The bitcoin goldrush is already over. Miners are selling their equipment just to recoup some of theire losses and mining it will only lead you to a negative profit

maker88

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no, no chance

That Guy

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Quote from: maker88 on September 25, 2014, 08:03:30 PM

i think you seriously underestimate the FMV dollar value of the entire worlds wealth, 10 percent of that as the market cap for bitcoin would make the price per coin tens of millions of dollars, in todays dollars not some crazy inflation doomsday dollars. a tenth of a percent of the worlds wealth going into it would make us all millionaires.

maker88

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i think you seriously underestimate the FMV dollar value of the entire worlds wealth, 10 percent of that as the market cap for bitcoin would make the price per coin tens of millions of dollars, in todays dollars not some crazy inflation doomsday dollars. a tenth of a percent of the worlds wealth going into it would make us all millionaires.

BitCoinDream

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The revolution will be digital

Quote from: SomethingElse on September 25, 2014, 08:19:33 AM

I wonder sometimes that if bitcoin hits a breaking point where the price is growing and growing that many people around the world will be afraid to not invest in it, which will then make the price go even higher and higher. I cold easily see how bitcoin could get 10% of the world's wealth in 6 months in a monster run.

Remember, those who sold tools & shovel made most of the profit at gold rush... Just a food for thought Wink

Q7

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Keep your fingers crossed that in 6 months time it doesn't go the opposite direction. Gold is taking a beating right now and btc seems to feel as well. The paypal news didn't lift it very much

Morguk

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Half a % would be amazing.

martinnew

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Also think that it is not possible, very high expectation on BTC.

Topic: Will there be a bitcoin gold rush? (Read 2154 times)