Post
Topic
Board Bitcoin Discussion
Re: $10,000 Bet that Bitcoins will outperform Gold, Silver by 100X !!!
by
dooglus
on 20/09/2011, 00:57:32 UTC
@BTCSports,
Since I think you know a lot more about how betting works than I do,  I would like your input on how to structure the bet.

I am saying that Bitcoin will outperform ALL of them.

How I imagine it would work is if the current (easy math) price of each is:
Bitcoin is $10.
Silver is $50
Gold is $1500
Dow Jones 10,000 points
Nasdaq 2,000 points
USD is $1

in two years if everything doubles (except the USD will still be worth $1USD) to:

Silver is $100
Gold is $300
Dow Jones 20,000 points
Nasdaq 4,000 points

Bitcoins would need to be more than 100x more  ($1,000 a coin)  for me to win the bet.

Please let me know if anything is not clear,  or you think I am missing something.

Couple of mistakes there.  Twice $1500 is $3000, not $300.
And if everything else gone up 100% and we want to outperform it by 100 times, we'll need to go up 10,000%, which would take the price of BTC from $10 to $1,010, not $1,000.  Going to $1000 from $10 is 'only' 99 times more of a percentage gain than gold made.