Quote from: iamnotback on April 16, 2017, 06:15:22 PM

Quote from: noormcs5 on April 16, 2017, 06:09:47 PM

Quote from: manselr on April 16, 2017, 12:21:54 PM

I agree with $500,000 prediction being too high, even $100,000 is still to high. Gold is a 5000 year asset, no way Bitcoin will surpass it in 13 years from now, just not possible! Sorry, but it's nonsense.

Really 500,000$ is almost next to impossible for the bitcoin to attain such a price, not even in decade. We are only 1200$ dollars now and 500,000 is like a dream which may never come true. I think we should be realistic in predicting the prices.

Incorrect!

Read the fucking thread before you post. I am not your damn secretary!

Quote from: iamnotback on April 14, 2017, 05:00:51 AM

Quote from: thejaytiesto on April 13, 2017, 02:41:05 PM

Quote from: iamnotback on April 13, 2017, 11:39:55 AM

All the $billionaires and $trillionaires will be doing their settlement in BTC.

It will be $500,000 per BTC.

That is obvious.

You don't seem to understand money very well. And I am not going to write a treatise here. It isn't my responsibility to fix your ignorance about money. I say this forcefully because it behooves you to do some learning so you stop spouting off incorrect judgments.

You said this in that other thread where the first Snapchat investor said it's going $500,000 by 2030, that you agree with that prediction.

2030 is 13 years from now

Current price: $1200

That's $498,800 to go in 13 years, which according to my third grade math means BTC should raise around $38369 per year if your theory is correct.

Isn't this a bit nuts? How can BTC grow so much in 13 years? It would need to go parabolic in an unprecedented way. It would redefine the meaning of going parabolic. Nothing ever has grown this much, not even Berkshire Hathaway Class A stock. We are looking at insane levels of growth in a parabolic way in the last 3 years before 2030 is hit and by the time the curve of coin release starts being flat:

So if this is of any guidance, by about 2025 we would need to start seeing some serious shit, like legit insanity of price growth. And I say parabolic, because I don't see anything near $38369 per year happening any time soon if the growth was more or less linear, so it must be next-level parabolic. We would need to be seeing gold whales, stock whales, fiat whales, everything, moving money onto bitcoin to hodl there (or transact within the blockchain but never leaving BTC).

We are talking about 5 figures of growth per day in the last period... this is insane and would cause heart attacks left and right from hodlers that become rich in such a extreme way.

We are looking at current mega whales (considering they don't sell along the way) becoming the richest men on earth, maybe surpassing Rotchilds? I don't know how many BTC the mega rpietila and MP tier whales have, but at $500,000 per BTC they would become stupid rich, maybe first trillionaires ever (as a single guy owning +trillion).

I don't know, the growth required for $500,000 in 13 years seems too much. It would be something never seen before, books would be written about it, kids would learn about it in schools. It would be all over the planet, minds would explode, people that didn't buy at $1000 would hang themselves with a belt.

"The greatest shortcoming of the human race is our inability to understand the exponential function". Al Barlett on Growth and Sustainability

Compute: (500000÷1200)^(1÷13) = 1.59

Thus to reach $500,000 in 13 years from a starting price of $1200, a compounded rise in price of 59% per year is all that is required.

Do you understand now why I think @dinofelis is very mathematically near-sighted.

The chart you showed is not constant compounded growth, but rather logistic growth. Indeed we should expect Bitcoin to be logistic, because nothing can grow at a constant exponential rate forever. Since the $10 entry price in early 2013 to the recent $1300 price, Bitcoin has averaged 237% gain per year compounded. So we can see that Bitcoin's price is rising much faster than 59% per year right now and so by 2030 the price rise can slow down to much less than 59% per year and still reach $500,000. I believe @rpietila did some logistic models of potential BTC prices.

If we assume a 75% compounded rate (for the equivalent logistic model) from now until 2024, then the BTC price will rise 50X, thus $60,000 and the market cap will be $1.2 trillion.

Of course no one can surpass the elite in BTC wealth, because they mined most of the first 10.5 million Bitcoins.

Most of us won't have enough BTC to stay on chain that long so we will be kicked out to currencies (altcoins or what ever) which are regulated and many of us will have our wealth confiscated by governments gone bezerk with the severe sovereign debt collapse that Bitcoin is going to help cause and make severe.

You say you won't give your private keys, but the government can throw you in jail and torture you. Also I expect by 2024 or so, the elite will have control over the mining and can blacklist addresses they want to.

Quote from: libertad on April 13, 2017, 07:54:39 PM

Why would the elite want to create thousands of new trillionairs?

They aren't. See above.

Quote from: libertad on April 13, 2017, 07:54:39 PM

Why would trillionares need BTC when they own offshore banks?

Offshore banks aren't a reserve currency.

ME SOCIAL SECURITY CHECK IS ESTIMATE TO BE $1000 TODAY.

THAT WILL BUY 1 GALLON GAS FOR ME ELECTRIC CAR IN 2030.

I USE LEFT OVER WHEELBARRAL OF USD IN FIREPLACE TO HEAT HOUSE.