Topic: Winklevoss twins: Bitcoin will be bigger than Facebook #bitcoin #facebook - page 2. (Read 4119 times)
May 24, 2014, 07:06:07 AM
True, my thought it was going to develop into a large change in the financial world
May 24, 2014, 01:20:54 AM
We need to have Bitcoin simplified for people who are not tech savvy.
People who are not tech savvy would be better off not using Bitcoins. Already robberies and hacks are targeting even the most tech savvy of the users. If the less tech savvy decides to use Bitcoin, then it will be just a matter of time before they are conned.
May 23, 2014, 11:36:29 PM
There are few people with "decent amount of coins" compared to general population, so everyone with decent amount of coins CAN get rich.
While I would love for this to happen, the likely-hood that 1 bitcoin would reach something like $10,000 seems way too high. I know you can buy them in bits, but who would buy 1 bitcoin for $10,000?
The psychology of direct retail purchase isn't too relevant to the long term success, it's the utility of the use cases.
May 23, 2014, 08:52:00 PM
It would be awesome for Bitcoin to be bigger then Facebook. But FB is so big, all my friends use Facebook and none of them uses Bitcoin. We need to have Bitcoin simplified for people who are not tech savvy.
Thats because for most people its, "why would I pay my money, for digital money?", and facebook is free to use. You're just paying with your soul.
Lol
. Paying with your soul is soooooo true! May 23, 2014, 03:41:14 PM
It would be awesome for Bitcoin to be bigger then Facebook. But FB is so big, all my friends use Facebook and none of them uses Bitcoin. We need to have Bitcoin simplified for people who are not tech savvy.
Thats because for most people its, "why would I pay my money, for digital money?", and facebook is free to use. You're just paying with your soul.
May 23, 2014, 02:10:43 PM
It would be awesome for Bitcoin to be bigger then Facebook. But FB is so big, all my friends use Facebook and none of them uses Bitcoin. We need to have Bitcoin simplified for people who are not tech savvy.
May 22, 2014, 10:16:10 PM
I guess they're still bitter about Mark Zuckerberg stealing the idea for Facebook from them
Why be bitter? They won a lawsuit worth 65 million...This Bitcoin Venture may be just what they need to carve their own path...Sometimes we have to stay in our own lane...let Mark Zuckerberg do what he do! 
well, it's not just the $65, it's also the credit that they want.. and $65 million is not much considering what facebook is currently worth ($67.4 billion). that's less than .1% the value of facebook. if they had a 20% stake and kept their shares, they'd easily be billionaires by now.
May 22, 2014, 09:24:41 PM
I guess they're still bitter about Mark Zuckerberg stealing the idea for Facebook from them
Why be bitter? They won a lawsuit worth 65 million...This Bitcoin Venture may be just what they need to carve their own path...Sometimes we have to stay in our own lane...let Mark Zuckerberg do what he do! I mean I also feel, why be bitter, but they probably are because it is now worth billions.
May 20, 2014, 10:49:46 PM
I guess they're still bitter about Mark Zuckerberg stealing the idea for Facebook from them
Why be bitter? They won a lawsuit worth 65 million...This Bitcoin Venture may be just what they need to carve their own path...Sometimes we have to stay in our own lane...let Mark Zuckerberg do what he do! Why do you keep forget where KnC's mega-pharm is located?
May 20, 2014, 10:45:28 PM
Of course they will say this! don't they own like hundreds of thousands of btc? what would you expect them to say?! i mean, they might be right, but i don't trust anyone who has such a huge financial interest in swaying opinion.
May 20, 2014, 10:38:50 PM
I guess they're still bitter about Mark Zuckerberg stealing the idea for Facebook from them
Why be bitter? They won a lawsuit worth 65 million...This Bitcoin Venture may be just what they need to carve their own path...Sometimes we have to stay in our own lane...let Mark Zuckerberg do what he do! May 20, 2014, 09:50:50 PM
I guess they're still bitter about Mark Zuckerberg stealing the idea for Facebook from them
May 20, 2014, 08:31:52 PM
The twins are talking their book
Pure and simple
Which is not to say they are wrong
Pure and simple
Which is not to say they are wrong
One man's "talking your book" is another man's "skin in the game".
One man's "skin in the game" is another man's "I can't wait to return to Burning Man next year and dance with Autumn Radtke".
May 20, 2014, 08:25:59 PM
usamakhalid961 needs to stop copy/pasting articles into the main discussion forum for primedice adviews.
There's a press section.
There's a press section.
Agreed.
May 20, 2014, 03:26:10 PM
usamakhalid961 needs to stop copy/pasting articles into the main discussion forum for primedice adviews.
There's a press section.
There's a press section.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
May 20, 2014, 03:11:24 PM
"Market cap" is not a real thing that you can reverse-engineer like that back to a price. Market cap is a concept that's derived the other way around, multiplying total supply by price, and what it's supposed to represent is the total value of the entire monetary base.
Yes I'm aware of that.
Still, the market cap is a good macro indicator to assess the overall size of the economy.
Is it the millions, billions, trillions?
Bitcoin has the potential to take a big slice out of the pie of trillion dollar industries.
May 20, 2014, 02:59:55 PM
one simple way to look at it is market cap divide by number of coins.
How many bitcoins are in circulation right now?
12.8 million.
https://blockchain.info/charts/total-bitcoins
But you can use 10 million as a rough estimate
for easy math estimation.
if bitcoin becomes a 100 billion dollar market,
then a bitcoin is worth $10,000
if bitcoin becomes a trillion dollar market,
then a bitcoin is worth $100,000.
(Obviously since the real number is 12.8M coins not 10M,
the numbers are about 25% less than that.)
How many bitcoins are in circulation right now?
12.8 million.
https://blockchain.info/charts/total-bitcoins
But you can use 10 million as a rough estimate
for easy math estimation.
if bitcoin becomes a 100 billion dollar market,
then a bitcoin is worth $10,000
if bitcoin becomes a trillion dollar market,
then a bitcoin is worth $100,000.
(Obviously since the real number is 12.8M coins not 10M,
the numbers are about 25% less than that.)
"Market cap" is not a real thing that you can reverse-engineer like that back to a price. Market cap is a concept that's derived the other way around, multiplying total supply by price, and what it's supposed to represent is the total value of the entire monetary base. In terms of how the valuation actually comes about, the other factors that come into play are velocity and the amount of Bitcoin in the "float" at any given time.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
May 20, 2014, 01:51:06 PM
one simple way to look at it is market cap divide by number of coins.
How many bitcoins are in circulation right now?
12.8 million.
https://blockchain.info/charts/total-bitcoins
But you can use 10 million as a rough estimate
for easy math estimation.
if bitcoin becomes a 100 billion dollar market,
then a bitcoin is worth $10,000
if bitcoin becomes a trillion dollar market,
then a bitcoin is worth $100,000.
(Obviously since the real number is 12.8M coins not 10M,
the numbers are about 25% less than that.)
How many bitcoins are in circulation right now?
12.8 million.
https://blockchain.info/charts/total-bitcoins
But you can use 10 million as a rough estimate
for easy math estimation.
if bitcoin becomes a 100 billion dollar market,
then a bitcoin is worth $10,000
if bitcoin becomes a trillion dollar market,
then a bitcoin is worth $100,000.
(Obviously since the real number is 12.8M coins not 10M,
the numbers are about 25% less than that.)
May 20, 2014, 01:47:16 PM
Lets hope there right 
May 20, 2014, 01:44:51 PM
There are few people with "decent amount of coins" compared to general population, so everyone with decent amount of coins CAN get rich.
While I would love for this to happen, the likely-hood that 1 bitcoin would reach something like $10,000 seems way too high. I know you can buy them in bits, but who would buy 1 bitcoin for $10,000?
thats like saying who would pay $600 to one just one share of apple?
Thats a pretty good example, but yes and no? Doesn't apple pay you dividends? Bitcoin doesn't pay dividends just for holding them, you can make a little if the price goes up, or lose a little if the price goes down. Same with the stock, you can lose a little if the price goes down or gain if it goes up, but in the middle you are earnings small amounts from dividends. Im really just curious I don't have vast knowledge of stocks.
Bitcoin doesn't pay dividends but that's irrelevant.
We're talking about price being "too high".
Since one can buy in any fraction, I don't see the high price
being an issue except for a psychological issue, and even
that can be overcome by quoting prices in millibits as
some exchanges already do.
the people who say that no one would buy bitcoins even when they are at $10,000 doesn't even have a basic understanding how economics works. they are trapping themselves with their own psychological barrier.
they're probably the same people who, in 2012 when bitcoin was worth $5ish per coin, "who would buy bitcoin at $500? that's just way too high."
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