The big question

[zerosum]

Still to come, after a message from our sponsors: tonyk's exclusive insider look at how to turn $137K into $1 Million. You won't want to miss this!

BitShares:

Be Your Own Bank

Beyond the Bank

Better Than a Bank

Reimagine Your Bank

You Just Robbed the Bank!

Join the Bank Robbers!

Like a Bank, Only Better

Bank on Yourself (somebody must have TM'ed this one already?)

Screw Offshore; Hide Your Money on the Blockchain!

Banks Are So Yesterday

Just turn your $137K into $1 Million

[donkeypong]

Still to come, after a message from our sponsors: tonyk's exclusive insider look at how to turn $137K into $1 Million. You won't want to miss this!

[zerosum]

Simple facts:
-You need about $1,000 to buy 55,000 BTS as of this writing.
-Let be somewhat conservative and you assume that BTS will only reach the current market cap of BTC (about 5 billion).

-Now assume you have frown those 1K bucks away and you no longer have them.

Following a very conservative investment strategy [that me knowing what you know can formulate for yourself] and pretty much the only assumption being that BTS will appreciate to 5 billion ($2.50/share), when/if it really does you will be a millionaire.

The remaining questions off course are - Does havening 1Mil makes you rich? I do not know. In my view it does not, but most people will also have a very hard time accepting that you are poor.

To make it work in practice it might  take slightly more than $1000, and you might end up with $750K. But $1250-$1500  should do it for sure... and if the general premise did not materialize, you will have a loss of 1.5K USD...

Not following, 55,000 bts at 2.50/bts is $137,500 isn't it?

That would certainly buy me a second chance at life, but thats no million. Am I missing something tony?

I think you missed the now bold part.

[CLains]

BitShares will grow faster the higher it goes. 101 employees are on standby. 

[TurkeyLeg]

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?

It will only take $4 USD/BTS for me to hit 7 digits :-) That qualifies as rich in my neck of the woods :-).

[merockstar]

Simple facts:
-You need about $1,000 to buy 55,000 BTS as of this writing.
-Let be somewhat conservative and you assume that BTS will only reach the current market cap of BTC (about 5 billion).

-Now assume you have frown those 1K bucks away and you no longer have them.

Following a very conservative investment strategy [that me knowing what you know can formulate for yourself] and pretty much the only assumption being that BTS will appreciate to 5 billion ($2.50/share), when/if it really does you will be a millionaire.

The remaining questions off course are - Does havening 1Mil makes you rich? I do not know. In my view it does not, but most people will also have a very hard time accepting that you are poor.

To make it work in practice it might  take slightly more than $1000, and you might end up with $750K. But $1250-$1500  should do it for sure... and if the general premise did not materialize, you will have a loss of 1.5K USD...

Not following, 55,000 bts at 2.50/bts is $137,500 isn't it?

That would certainly buy me a second chance at life, but thats no million. Am I missing something tony?

[eagleeye]

if we want to get above bitcoins 5 billion market cap we need to bring in new people.

-John Underwood will help with the remittance industry in Philippines.
-Getting new users through funneling online Internet users is the key.  Offline people will be the last adopters.  This means anything offline in the first world like a credit card is not at the moment.
-Bringing in new markets what bitmarket is doing ie porn industry is good...also casinos will be good too.
-The web wallet.  This is the key to everything, with the web wallet mass adoption happens as it becomes like email.

[Frodo]

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?

I'm imagining the average holdings of everybody on this board to be lower than 100,000.

Look, it makes me feel better, alright?

Simple facts:
-You need about $1,000 to buy 55,000 BTS as of this writing.
-Let be somewhat conservative and you assume that BTS will only reach the current market cap of BTC (about 5 billion).

-Now assume you have frown those 1K bucks away and you no longer have them.

Following a very conservative investment strategy [that me knowing what you know can formulate for yourself] and pretty much the only assumption being that BTS will appreciate to 5 billion ($2.50/share), when/if it really does you will be a millionaire.

The remaining questions off course are - Does havening 1Mil makes you rich? I do not know. In my view it does not, but most people will also have a very hard time accepting that you are poor.

To make it work in practice it might  take slightly more than $1000, and you might end up with $750K. But $1250-$1500  should do it for sure... and if the general premise did not materialize, you will have a loss of 1.5K USD...

I don't get it. Wouldn't your 55,000BTS be worth like 100k USD at bitcoin cap?

So you would need something like 10k USD investment right now to get to that magic million at bitcoin cap.

[zerosum]

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?

I'm imagining the average holdings of everybody on this board to be lower than 100,000.

Look, it makes me feel better, alright?

Simple facts:
-You need about $1,000 to buy 55,000 BTS as of this writing.
-Let be somewhat conservative and you assume that BTS will only reach the current market cap of BTC (about 5 billion).

-Now assume you have frown those 1K bucks away and you no longer have them.

Following a very conservative investment strategy [that me knowing what you know can formulate for yourself] and pretty much the only assumption being that BTS will appreciate to 5 billion ($2.50/share), when/if it really does you will be a millionaire.

The remaining questions off course are - Does havening 1Mil makes you rich? I do not know. In my view it does not, but most people will also have a very hard time accepting that you are poor.

To make it work in practice it might  take slightly more than $1000, and you might end up with $750K. But $1250-$1500  should do it for sure... and if the general premise did not materialize, you will have a loss of 1.5K USD...

[Ander]

Stronger hands = quicker appreciation.

During the post-merger dump of BTSX, a LOT of weak hands sold to strong hands. 

We are in a very good place right now, imo.  The bitshares community is TINY compared to where we will be if marketing starts to bring in lots of new people.

Right now having a million bitshares is totally normal for us forum-goers, but if the size of our community is to grow that cannot continue.


If the marketing plan works, then soon all of us early adopters will seem like whales in comparison to the incoming hordes who are happy to have their 10k bitshares.

[islandking]

It's sad expectation management is not taught at school  . I have been crypto obsessed for 2 months now, and already invested more than I should have... but I see it as a "50% probability I'll lose everything I invested, 50% I'll get rich". Every new info I get, every mumble session or hint by BM or Brian grow my confidence in it. I don't trade, I just stockpile.

1$ per BTS in the next two years would be +5000% at current price... that's a hell of an investment, and it's completely plausible. I'll consider myself rich at 1$ .

That is exactly my mindset. I am fine investing a little bit into it with the potential to lose it all or get rich. In my opinion 2 things will happen with BTS.

Either:
1) It will die and fail
2) It will change the world of banking, finance, business, and contracts.

If we all work hard together as a community we can help it grow a lot faster with marketing and word of mouth.

[inarizushi]

It's sad expectation management is not taught at school  . I have been crypto obsessed for 2 months now, and already invested more than I should have... but I see it as a "50% probability I'll lose everything I invested, 50% I'll get rich". Every new info I get, every mumble session or hint by BM or Brian grow my confidence in it. I don't trade, I just stockpile.

1$ per BTS in the next two years would be +5000% at current price... that's a hell of an investment, and it's completely plausible. I'll consider myself rich at 1$ .

[merockstar]

I'm imagining the average holdings of everybody on this board to be lower than 100,000.

Look, it makes me feel better, alright?

Results of my unscientific poll:
http://www.polljunkie.com/poll/ebsiyo/bts-stake-survey/view

Your link led me to a screen with "Loading," that never goes away (maybe some issue with my browser? I hit temporarily allow all in noscript). I tried removing the "view" part of the URL and got an invalid link.

[fluxer555]

I'm imagining the average holdings of everybody on this board to be lower than 100,000.

Look, it makes me feel better, alright?

Results of my unscientific poll:
http://www.polljunkie.com/poll/ebsiyo/bts-stake-survey/view

[merockstar]

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.

Actually, assuming BTS supply maxes out around say 3 billion total, a price of 100 dollars would require a $300 billion market cap, not trillions. But you're right, you will need to be a strong hand, and it will take time and a lot of explosive price action along the way. I'm ready for it, and can't wait. Hodl to the death.

Valid point, I suppose it depends on how much of the supply is available (how many strong hands there are).

Stronger hands = quicker appreciation.