Post
Topic
Board Bitcoin Discussion
Re: The $1000 Bitcoin, yes it's worth at least that.
by
Vandroiy
on 16/05/2011, 21:38:30 UTC
@"zomg early adopters get too much":

Boo-hoo, person X does not deserve his Bitcoins. Bitcoin initial distribution is by far the best approach I've seen so far. Yes, the makers made the rules so that they can get a neat share in the first month. SO WHAT? I was late too. But do I mind? This is much better than inflation. I rather give absurd amounts of money to someone who was an early supporter of a useful technology than to states who just burn it. Especially if I have to give it once, and the states want to keep the money burning all my life.

But that's the thing. States are there, wasting billions and billions of Euros and Dollars with everybody watching. If somebody pointlessly earns 100 million USD in a Bitcoin rise, who cares? Even ten billion; the EU destroys much, much more every year! It's not even important. And the time frame for the really absurd minting is pretty much over with BTC already at sizable price.

So, IMO, if a hundred people get an unjustified earning of USD 100 million each, I think this is an acceptable loss. The target economy size makes such an event negligible.



@Thread:

I don't believe all you $1000 people. If as many believe that as claim to believe it, price should be higher already. It's mostly people who shout, but aren't sure enough to actually invest. Which should be very profitable if $1000 is actually likely.

This is still far from done. You'll see when it actually is done. Things won't look like a little hacker circle playing with money anymore if that happens. If. Maybe we'll see three-digit prices then. But the real thing, that is many people using BTC in their everyday lives, has yet to happen.