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Offline wuyanren

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The big question
« on: November 10, 2014, 03:38:54 PM »

See so long quotes, suddenly found that bitcoins up, bitshares will fall. If bitcoin fell, more bit dropping. Then came the question, under what circumstances, bitshares will rise?

Offline Chuckone

Re: The big question
« Reply #1 on: November 10, 2014, 03:45:17 PM »
See so long quotes, suddenly found that bitcoins up, bitshares will fall. If bitcoin fell, more bit dropping. Then came the question, under what circumstances, bitshares will rise?

Bitshares will rise when a fully featured client is up and running, the big marketing push begins and starts to give results and when the on/off-ramps are setup. This will increase Bitshares adoption and will drive up the price.

Right now Bitshares has value, and it's valued according to the number of people using it as well as speculation. The product is pretty much unknown to the world. But it will change, soon, and when people start to realize how game-changing it is... Well, we'll see!
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Offline inarizushi

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Re: The big question
« Reply #2 on: November 10, 2014, 04:05:53 PM »
Stress free recipe :
1) buy a shitload of BTS.
2) coldstore
3) sleep well
4) When you're able to pay cam whores with some bitUSD, you're rich !
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Offline luckybit

Re: The big question
« Reply #3 on: November 10, 2014, 04:25:18 PM »
Stress free recipe :
1) buy a shitload of BTS.
2) coldstore
3) sleep well
4) When you're able to pay cam whores with some bitUSD, you're rich !

It will take either a lot of Bitshares or a very high market cap to be rich. Maybe the guy with 20 million Bitshares will be rich.
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Offline wuyanren

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Re: The big question
« Reply #4 on: November 10, 2014, 04:28:22 PM »
Intended to have a good hand with

Offline wuyanren

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Re: The big question
« Reply #5 on: November 10, 2014, 04:30:02 PM »
yi de yi shou hao yin a!lou shang de

Offline Chuckone

Re: The big question
« Reply #6 on: November 10, 2014, 04:34:06 PM »
Stress free recipe :
1) buy a shitload of BTS.
2) coldstore
3) sleep well
4) When you're able to pay cam whores with some bitUSD, you're rich !

It will take either a lot of Bitshares or a very high market cap to be rich. Maybe the guy with 20 million Bitshares will be rich.

Yep, only a handful will get rich with Bitshares, even if it does go to the moon. And the guy with 20 million Bitshares is already rich IMO. Not because of the 20M shares, but because he's able to invest so much liquidity in such a high risk endeavor. Being ready to lose that much money in one investment shows he has means most of us don't have.
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Offline Ander

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Re: The big question
« Reply #7 on: November 10, 2014, 07:33:51 PM »
Bitshares is currently up 38% in the past 10 days.  Yes, its down today while bitcoin is up, but so far in november it has been going up.
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Offline evolvo

Re: The big question
« Reply #8 on: November 10, 2014, 07:49:33 PM »
If it reaches the current 5 Billion market cap that Bitcoin has, which I think is quite reasonable, each Bitshare will be between 1-2 dollars.  I don't think you would need 20 million BTS to be rich off that.  I suppose it depends on what you define as rich but I would imagine being a millionaire would qualify, no?
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Offline Chuckone

Re: The big question
« Reply #9 on: November 10, 2014, 08:05:18 PM »
If it reaches the current 5 Billion market cap that Bitcoin has, which I think is quite reasonable, each Bitshare will be between 1-2 dollars.  I don't think you would need 20 million BTS to be rich off that.  I suppose it depends on what you define as rich but I would imagine being a millionaire would qualify, no?

You're right, it all depends on how much is required to be declared "rich".

Personally I would do well with a few million dollars ;)

I don't believe Bitshares will do that for me though! But nontheless, it would be my best investment EVER if the market cap ever reaches Bitcoin's current market cap.

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Offline nomoreheroes7

Re: The big question
« Reply #10 on: November 10, 2014, 08:18:20 PM »
lol @ anyone thinking that achieving at a minimum Bitcoin's market cap is all that unreasonable...

I swear some of you don't understand the mind boggling potential of all this.

Also, I consider 1 million USD to be rich. At that much money I could retire before I'm 30 and live largely off the BitUSD yield. Would probably need at least a few million to retire comfortably though... :D
« Last Edit: November 10, 2014, 08:20:26 PM by nomoreheroes7 »

Offline donkeypong

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Re: The big question
« Reply #11 on: November 10, 2014, 08:24:42 PM »
There's no reason that BTS shouldn't reach Bitcoin.

Offline Chuckone

Re: The big question
« Reply #12 on: November 10, 2014, 08:32:02 PM »
lol @ anyone thinking that achieving at a minimum Bitcoin's market cap is all that unreasonable...

I swear some of you don't understand the mind boggling potential of all this.

Also, I consider 1 million USD to be rich. At that much money I could retire before I'm 30 and live largely off the BitUSD yield. Would probably need at least a few million to retire comfortably though... :D

I know that if it gets adopted by the masses the Bitcoin market cap will only be a milestone in the steep price increase of BTS. I don't believe 5billions is so unreasonable. But Bitshares is still a long long way from that market cap (it would need to increase approximately x125), and I prefer to be realistic and not inflate too much my expectations.

Anyway, I'm not selling anything for the next few years, so we'll see then!

 But I'm pragmatic and reasonable, and probably cash in part of my investment before it hits 10$/BTS.
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merockstar

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Re: The big question
« Reply #13 on: November 10, 2014, 08:48:01 PM »
Stress free recipe :
1) buy a shitload of BTS.
2) coldstore
3) sleep well
4) When you're able to pay cam whores with some bitUSD, you're rich !

It will take either a lot of Bitshares or a very high market cap to be rich. Maybe the guy with 20 million Bitshares will be rich.

Thank you for approaching this with a level head. It bothers me to see so many people here who think this is going to make them rich.

Is there a chance it can? Sure.

Judging by how useful DACs can be, I'd even go so far as to say that it's a pretty damn good chance.

But first you have to be patient and sit through up after and down after down without cashing out.

When it goes past ten, you know you're going to get sick to your stomach if you the price starts dropping temporarily. You'd need to be a super strong hand.

Secondly, it will take a very long time. It took Bitcoin four years to get where it is today. Unless you're the dude with 20million BTS (and are thus already rich) it's going to take a price of 50-100 dollars a BTS to get most of us rich. That would be a market cap in the trillions. To achieve that we need major worldwide adoption.

Major worldwide adoption could be hindered by a competitor with a better marketing strategy, or by governments unanimously lowering the clamps, or by some unforeseen failure in DPOS, or a war in which EMPs get deployed, and god knows what else.

I'm not saying it can't make you wealthy. If you hold, and all goes as planned, it just might.

But what I'm saying is that it's important that we manage our expectations.

Offline evolvo

Re: The big question
« Reply #14 on: November 10, 2014, 09:26:21 PM »

Secondly, it will take a very long time. It took Bitcoin four years to get where it is today. Unless you're the dude with 20million BTS (and are thus already rich) it's going to take a price of 50-100 dollars a BTS to get most of us rich. That would be a market cap in the trillions. To achieve that we need major worldwide adoption.


I'm still not sure I follow your math.  If BTS reaches 50 dollars per share that would mean someone with 1 million BTS would be worth 50 million dollars.  Surely that is not the lower limit by which you define being rich?   At 1 dollar per share, that same person would be a millionaire.  At 2 dollars per share, the person with 500,000 BTS is a millionaire.  At 4 dollars a share, someone with 250,000 would be a millionaire.  At 10 dollars per share, someone with 100,000 would be a millionaire.  I have no idea what the value will end up being, although I think dollar parity is not unreasonable at all.  All I'm saying is that there's a huge middle area of wealth creation that you seem to be glossing over should the price get up to dollar parity and beyond.  I would imagine most people on this board (due to being early adopters) have 100,000 BTS or more.  If at 10 dollars everyone on this board would be a millionaire, where do you get the number that it would have to be 50-100 dollars in order to reach that state?
Welcome To The Blockchain (The Bitcoin Song) - by Toby + Decap

https://www.youtube.com/watch?v=YbzNJr26H-4

 

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