Quote from: nobbynobbynoob on February 18, 2014, 02:36:53 PM

Quote from: bitpop on February 18, 2014, 12:48:45 PM

1 Bitcoin = $1 million soon my fellow wealthy elite

A year or so ago, I would (while spiritually sympathetic with the bullishness) have quietly laughed away this suggestion as preposterous. Now, I don't think it is - the only problem is, thanks to Janet Yellen, that million-dollar bitcoin might only be worth about $50k or so in today's money. Still nothing to scoff at though.

Do your math. Janet Yellen's term as head of the FED is 4 years (I had to google that). If within her term 1Ƀ went to $1M being worth todays $50k, where is the rest of the value? In an 2000% inflated USD? Yeah, that could indeed drive the bitcoin price to such highs in a short time but then the valuation would only be a snapshot of a landslide and the next day 1Ƀ would be $2M. 2000% inflation in 4 years is 376% inflation per year. Assuming from where we are now to a total of 2000% in 4 years is a smooth process, things would look even worse USD not being anymore like within weeks.

Quote from: superresistant on February 18, 2014, 02:46:37 PM

What is new is that everyone can be part of it. Bitcoin is open to everyone.
It doesn't matter your background and education. Anyone can learn.

Well, I guess this is true in an idealistic sense but not in the real world. I evangelize Bitcoin to people and made no difference of background or education. Giving a $10 paperwallet to a filthy flying salesman feels sadistic though, no matter if I explain it to him patiently for 10 minutes or not. He will not remotely grasp my good intention as he's not used to good intentions and even if he does, he will not be able to get started for so many reasons, lacking smartphone and lacking education just being the most obvious.

I sad I "made" no difference of background, not "make" because now the shadiest of all people greet me in the street when I'm out with friends cause I was nice with them. Embarrassing with some, maybe dangerous with others who might think I am some wealthy elite gentleman, so there again is a barrier to entry even for the information flow.