Quote from: Biodom on July 04, 2015, 07:28:03 PM

Quote from: jehst on July 04, 2015, 05:58:06 PM

Quote from: dnaleor on July 04, 2015, 10:05:48 AM

Quote from: jehst on July 04, 2015, 01:21:49 AM

Quote from: gentlemand on July 04, 2015, 01:06:14 AM

Quote from: jehst on July 04, 2015, 01:02:43 AM

Yeah, I've been sitting through it and now I'm in too deep to turn back.
I can handle a bubble to 1000 or 3000 without losing my head. Part of me will just be thinking "Finally!"

But if it goes to $10,000 to $100,000 within the next 5-6 years, I can't see myself staying cool. Even after all the long hours playing with models and various assumptions to convince myself that it's possible.

If it succeeds then by its very nature there'll never be a 'top'. It'll carry on deflating. I guess everyone needs to set themselves a goal and start spending when it reaches it. Paper profits ain't much fun. It's no good sitting in a shack eating ramen waiting for a mythical price level when there's a whole world out there waiting to be lived in.

A net worth of 2 million seems like a reasonable time to start spending.

I did this calulation a year ago and came to the conclusion that with 2M it's possible to just retire early with some comfort, but nothing "over the top" (asuming your are about 30-35 years old)

Plan to earn a 5% return after taxes. Withdraw 4%. $80,000 per year and it should keep growing.

It really wouldn't be anything to write home about. People who got into the oil game early made a lot more, but I wasn't born then.
In 1900, you had the chance to buy up cheap land in California or Texas and try to get oil. Before that you had the gold rush in 1849.

In 1995, you could've tried to start a tech company and sell it for millions. Or you could've gotten involved in the opening up of Russia. Perestroika made a bunch of fortunes. I was too young.

You could've gone to Australia to get it on the mining boom. Or went to North Dakota or Alberta to get in on the new oil boom.

Every generation has its chance. Sometimes multiple chances. The thing that makes thousands of new fortunes. I see bitcoin as our generation's chance. Bitcoin, if it succeeds, isn't just going to make Satoshi, Roger Ver, Eric Voorhees, and a couple of dozen other people rich. Cryptocurrency, if it's like oil, or gold, or steel, or railroads, or the internet, it's going to make hundreds of thousands of people wealthy.

You're going to scroll down the world's global richlist and underneath "Source of Wealth" you're going to see Cryptocurrency there pop up multiple times alongside Gold Mining, Oil Exploration, Lumber, Steel, Shipping, Automobile Manufacturing, etc.

considering that wealthy now is at least $5 mil, then for hundreds of thousands (or, at least 100K) to be worth that much in bitcoin, it would have to go to ~$500K.
It is still possible.
Source for ~100K having at least 10BTC:
https://bitcointalk.org/index.php?topic=316297.0

If bitcoin is the currency singularity, it will have to be worth that much.