insanely stupid obviously.
https://www.reddit.com/r/tax/comments/mfegx4/reclaiming_my_life_after_being_destroyed_by_crypto/

Ok thanks for more replies everyone.
I agree with fundamentals of: most of the predictions seem to be based on nothing. A lot of the big predictions come from people that own funds that have btc in them and they take a management fee. So for Winklevoss twins that is 2% of 36 billion of btc = 700 mil usd a year ! thats quite a lot of money and is no wonder they constantly pump btc.

As for using btc for a day to day tx: imagine being at the supermarket and buying $20 worth of items, paying a $20 tx fee, and waiting 1 hour for it to clear. Not gonna happen obv. For big tx its ok I suppose but that represents only a small % of crypto holders let alone everyone.

If btc did see a big crash presumably the money would flow into other cryptos. That would be interesting.

As for those that just semi hyped btc you provided no math at all either.

I really dont know whats gonna happen but I made my decision to sell btc and buy mostly xrp and some other cryptos and in absence of some convincing mathematics to go back to btc i will stay as is. We will see which one works out better in 10-20 years from now

Ok thanks both for the responses.

So there is still room for growth in retail investors https://www.buybitcoinworldwide.com/how-many-bitcoin-users/ but there is still a max limit there

Modern websites say "In 2019, total world wealth grew by $9.1 trillion to $360.6 trillion"

https://www.visualcapitalist.com/the-88-trillion-world-economy-in-one-chart/

So if 1% of all that went into btc that would be $3.6 trillion which makes btc go about 4 fold

and retail vs institutional investors looks around even https://www.coindesk.com/bitcoin-retail-flows-jpmorgan

btc will never be a world currency because of the slow tx time, high cost, and low tx per second (all modern cryptos are better than it) so its only function now for big businesses like tesla (yes they sell cars for btc but waiting 1 hour and paying 20 usd on a 100k transaction is not a big problem) and investment banks etc is the hope it goes up in the future.

So eventually buyers have to run out and it may be a lot sooner than 2140 when the last coin is mined.

Hi all
I own no btc but mainly XRP and a few other cryptos, and these represent, last time I checked about 3% of my investment money (most in index stocks/bonds with some gold)

I was reading the old bitcoin mailing list archives and saw this from 2009

https://sourceforge.net/p/bitcoin/mailman/bitcoin-list/?viewmonth=200901

As an amusing thought experiment, imagine that Bitcoin is successful and
becomes the dominant payment system in use throughout the world.  Then the
total value of the currency should be equal to the total value of all
the wealth in the world. Current estimates of total worldwide household
wealth that I have found range from $100 trillion to $300 trillion. With
20 million coins, that gives each coin a value of about $10 million.

So the possibility of generating coins today with a few cents of compute
time may be quite a good bet, with a payoff of something like 100 million
to 1! Even if the odds of Bitcoin succeeding to this degree are slim,
are they really 100 million to one against? Something to think about...



Now in 2020 we know btc can never have all the worlds finance on it because it can only do 7 tx per second or some other very low amount (visa alone does 1700 tx per second) so we can assume the $10 mil per coin price prediction is wrong (apparently the worlds economy is now over 1 quadrillion  (1000 trillion) but lets just stick with that 100-300 range that got the above poster the 10 mil answer).

So the question is realistically how high can bitcoin go?
How much money do retail investors have left to put into it?
How much money are institutional investors likely to put into it in the future?
I read bitcoin miners sell almost 100% of their coins so there has to be an influx of new money from somewhere.

For the price of btc to double (55k usd to 110k usd) it has to go from its current market cap of USD 1 trillion to USD 2 trillion. Then to double again (110k usd to 220k usd)  it needs a 4 trillion market cap. Where is all this money coming from?

The people in 2021 saying btc will go to 10 mil or 100 mil etc what mathematics are they basing their predictions on? Or are they just making numbers up?

I don't know the answers to these questions but it seems one day at least the buyers will have to run out and btc drops massively maybe to 0.

Food for thought.

for a coin that has actual real world use (cheap fast used by banks etc) and is fast becoming the currency of the world financial system then ripple xrp.

I bought some of these years ago at ico. Whats happened with this coin? thanks

I am trying to find a chart of the price of arweave but can not fine one. Can you direct me to one please? And what exchanges is it on? Thanks.

I bought real at the ICO but forgot how it was sent to the buyers. There is none on my ethereum address.  Were we given a certain key code or what???

Months ago buzzcoin was giving a good roi now hardly any has been generated in the past few weeks. what is going on there

I haven't received a stake on buzz in days what gives

I transferred some buzz to stake united 24 hours ago, and it still says processing. The buzzcoin block chain explorer is down http://blockexplorer.buzzcoin.info/network and has been for over 24 hours... anyone know whats happening?

Yay the wallet is 100% clean from virus total 

No they will be fine. Just have to wait fricking ages for the wallet to sync 

wow! i just checked my buzzcoinqt file that I downloaded months ago, and it gave the same result! Devs you have to explain this if you expect people to trust you.

Thanks to MrKruemal for using my referral

This is from their website:

You don't have to wait for days or weeks to receive a stake. You don't need a personal computer or server that runs 24 hours a day. Due to the size of our pool, the optimal time of the stake can be determined. You don't need any technical knowledge!

Here is an example with MUT Coin (Solo vs. StakeUnitedPool):
Solo: After 28 days of staking with 20k MUT you've got 1,313k MUT.
StakeUnited: After 28 days of staking with 20k MUT you've got 13,823k MUT!
(btw: that's 10 times more than staking alone! After 60 days it's 50 times more!!!)


Our Pool is fully automated managed and our website is updated instantly after each stake! You will always know what's going on! Waiting less and no worries! You can even double check the math!

Our fees are low! Only 3% compensation from the "stake reward". That includes server costs, system administration, referrals and salaries for employees. You can withdraw and deposits anytime. After the next incoming stake the coins will be immidialaty send to your wallets, 24/7! Liquidity is always our high priority! We optimize our wallets constantly so that a stake is received every 24 hours. Because every coin is different, we fine tune every wallet individually!

Yes staking is slow in the wallet. I now use this website https://stakeunited.com/sam12345 I put 10k in at first, and got back around 230 in 24 hours. I just transferred 100k over there now, and still have 300k left in my wallet in case the owners of the website fake a hack, and steal everyones money. If you click the overview tab you will see they have over 1 million USD worth of coins in there staking so a lot of people are using them.

Same thing happened with me. Notice the wallet tx id has 000 on the end but the block chain tx id does not. I put the block chain tx id in after putting the 000 one in, and hours later one of them went through... not sure which one.

Yep I did that, and it still says processing however the buzz coin wallet tx id has 000 added to the end of it where in buzz explorer there is no 000 so I created a new deposit just now with the tx id without the 000

I deposited 10k, and used /hammerhart91 referral. An hour later it is still processing though, and the tx id does not show up on the blockchain.

I bought buzz months ago but didnt realise the wallet had to be running to stake it. doh. The staking pool sounds good however what is to stop the owners of it stealing everyones coins, and then saying they were hacked? It seems risky.