Quote from: fleabag on October 16, 2013, 11:41:02 PM

Quote from: Erdogan on October 16, 2013, 11:32:36 PM

Quote from: fleabag on October 16, 2013, 09:32:53 PM

NO it will never ever ever even reach $500.

It has to. Look: Every time someone saves money, they are effectively taken out of the money supply, and the remaining money increases in value (until the money is reintroduced later). If everybody save some money (decides for instance to save for retirement), the value of the remaining money will go up and stay there. The magic is that, in the real economy, the production and consumption continues at the same volume. If everybody saves for retirement during their active years, everyone will also be rich (have the freedom to spend at will), without really sacrificing anything. The calculation adds up, and the reason is that money has no use value, and minimal cost (they can be reused indefinitely).

The current situation is that everybody tries to have a negative amount of money. For instance, it is smart to have a one million house, a 900000 loan, and money only for a few weeks' or months' consumption. Say 10 000. That is -890000 in USD and one mill in real estate. That is positive equity but negative money.

With bitcoin, it is not necessary to frantically buy up real estate or other inflation safe assets, you can just buy or rent what you need and save the rest in bitcoins. That is why the value of the bitcoin money supply M0 can be at least as big as the current USD M0 plus all other currencies' M0. USD 500 (the current value of USD as of october 2013) is peanuts. It can and will go much higher.

Now you know. Go and buy.

Sorry. Im not gambling my future away on some back room boiler room pipe dream.

And the nice thing about the entrepreneurs, that we the savers are in supporting the value of bitcoin, is that if we make the wrong decisions, our prosperity will evaporate and we fall back to the ranks of the wage-earning masses, as we deserve.