"Bitcoin Will Go To A Million Dollars"

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o hai guyz said:
Another way I look at bitcoin is this: when the internet was novel, there weren't many useful sites, there were no social networks, modems were incredibly slow and barely anyone used it...
....Currently bitcoin doesn't have much practical use, at least here in the US. We are speculating that over time (IMO 2-3 years) it will become more useful as more and more people start to use it. One of the common naysayer arguments is "well how is it useful if nobody is using it" and the answer is it isn't, but we believe that people WILL start to use it...
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Was thinking the same this mornin' :smokin: I hear that quite a few bigtime economists were laughing at the internet when it first started to get some media attention, speaking up and dismissing it as a stupid fringe fad for a few computer geeks that would just disappear quickly. That nothing would ever come of it for doing any sort of bizness, etc :evil_laughter:
 
Unarmed Gunman said:
Curious, do you use it as money or are you sitting on them and treating them like an investment? Same question to you Luke.
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I personally try to use what I mine as money. Namecheap sells domains for BTC, plenty of hosts sell hosting for BTC, and lots of other services like VPN and stuff take BTC too. It's easy to spend small amounts now on things that I know are needed.

This would all be coming out of my 'hot' wallet, of course... A ninja couldn't get me to open my cold wallet with the main savings right now... Very tucked away offline.

#Protip on spending: Right now we're probably in some sort of bubble... Good time to pay bills in bitcoin, because next month you coin's buying power may be worth a lot less than it is now.


jacky8 said:
you guys are so persistent too. Luke, I hope you have a ton of btc atleast for all the time you are killing for the sake of btc
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I have an amount I can live with... But will always wish I had more.

We're persistent because we've studied it. Everyone who really has and gets the big picture has no more doubts; Bitcoin is gonna be really big one day, period.


Unarmed Gunman said:
Which means it's not money, correct?
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Right now bitcoin can be defined in three ways:

  1. A protocol like http but for money transmission.
  2. A digital unit of wealth (i.e. gold 2.0) to speculate on.
  3. A proto-currency that is still in the womb.

In the next 1-2 years bitcoin will be more matured, and ready for your grandma to understand. The current rate of merchant adoption is already extremely impressive for such an awkward 'currency,' but I'd bet anything that in 5 years we'll look back on today's bitcoin POS devices and merchant solutions pretty much the same way we do look back at AOL or even Bulletin board systems from the early internet.

My best guess for when bitcoin will be a defacto 'money' is currently sometime in 2017. By that time a bitcoin will be worth so much that volatility will be absent on the amounts of btc people use for daily payments.

Before then it'll just be a speculative commodity and payment network with tons of promise.
 
lukep said:
Srsly; my message hasn't changed much. I appreciate that you have lowered your resistance to talk of bitcoin from screaming doomsayer to merely not endorsing.
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Never been a doomsayer. It's not money. And libertarians should fight for good money.

I don't care what people speculate in, just like I don't care who they fuck, what they eat, or where they work.

Unfortunately, some people get so caught up in the mania, they freak out if anyone doesn't jump on the true believer bandwagon, suspend all skepticism and become a drone for the cause.

I have pissed off a lot of people and done a lot of dumb things in my life, but I always try to stay true to my convictions.
 
guerilla said:
Never been a doomsayer. It's not money. And libertarians should fight for good money.
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Libertarians DO fight for good money.

That money (to be) is called Bitcoin.

All other money you think you know will be nearly worthless in comparison to bitcoin within a few years time. I'll stick by 2017 on that prediction.

Stef puts into words why very well here:

[ame=http://www.youtube.com/watch?v=Cs6F91dFYCs]The True Value of Bitcoin: What You Really Need To Know - YouTube[/ame]

Bitcoin's value, (not the coin itself but the blockchain's utility to mankind) is literally going to be higher than the value of anything else you've ever conceived.
 
"I wouldn’t have embarked on this exercise were it not for the fact that BTC fanatics shockingly embrace a lot of Central Banking anti-gold propaganda in their defense of BTCs. Again, I’m distinguishing between BTC fanatics and advocates as I label as fanatics those that believe BTCs are the alpha and omega when it comes to real money. Consequently, I want to ensure that the majority of the rational BTC community does not let the propaganda of a few bitcoin fanatics pollute their minds about the true value of a BTC."

The Argument of Bitcoins v. Gold Laid to Rest, Part II | Zero Hedge
 
If I had of invested £30k when I originally saw bitcoin & thought about investing (but didn't because of some stupid doubts & now I kick myself because I knew that digital currency in the long run is the way of the future)... I Would have over £400 million, cash!! In a matter of 7 years!
 
Timpfm said:
If I had of invested £30k when I originally saw bitcoin & thought about investing (but didn't because of some stupid doubts & now I kick myself because I knew that digital currency in the long run is the way of the future)... I Would have over £400 million, cash!! In a matter of 7 years!
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Timpfm said:
If I had of invested £30k when I originally saw bitcoin & thought about investing (but didn't because of some stupid doubts & now I kick myself because I knew that digital currency in the long run is the way of the future)... I Would have over £400 million, cash!! In a matter of 7 years!
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7 years? It's amazing how Bitcoin has enabled so many people to travel through time.
 
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