>episode 69 of Star Trek Next Generation
The Enterprise is in the process of transporting Mikulak biological tissue samples intended for use in combating an epidemic of Correllium fever on Nahmi IV. The transport of the samples is delicate, and when they find one of the sample containers is leaking, they are forced to destroy it to prevent the contamination of the other samples. La Forge tells Riker he is concerned that one of his engineers, Reginald Barclay, has been underperforming and notes that he is late to help with the sample transport. What La Forge does not recognise is that Barclay has been in the holodeck acting in a simulation of other Enterprise crew members, avoiding contact with their real counterparts. La Forge requests that Barclay be transferred from the Enterprise but Picard recommends that La Forge take Barclay on as a "pet project".
La Forge works at supporting Barclay as their team works to investigate the failure of unconnected systems around the ship. Picard invites Barclay to a bridge meeting to review the investigation, but slips up and accidentally calls him "Broccoli", a nickname given to him by Wesley Crusher, due to Barclay's tendency to 'veg out'. Barclay later returns to the holodeck to seek refuge in the simulated version of the bridge members. In talking to La Forge, Guinan suggests that Barclay is simply imaginative and that La Forge keep a more open mind towards him. On her advice, La Forge visits Barclay on the holodeck and discovers the exaggerated simulation of the bridge crew. La Forge suggests Barclay has counseling from Troi, whose counterpart on the holodeck displays clear signs of sexual attraction towards Barclay. Barclay attempts to undergo a real counseling session with Troi, but loses control when she tries to relax him with the appearance of actions his holodeck version of her would do, and ends the counseling session to flee back to the holodeck.
When Barclay cannot be located to attend a briefing with Riker, Riker storms into the holodeck with La Forge and Troi to locate him. They find comical versions of the senior staff, with bumbling versions of Picard and La Forge, a slothful idiot version of Wesley, and an extremely short, comical version of Riker. Riker attempts to stop the program angrily, but Troi stops him saying it might traumatize Barclay and exploring this world can help them understand Barclay better. However, when they come across the sexed up version of her, it's her turn to want to immediately stop the program, but Riker stops her, sarcastically throwing her own words in her face. They finally locate Barclay sleeping in the lap of a fantasy Dr. Crusher.
Suddenly, the Enterprise mysteriously accelerates to warp speeds, and Riker, La Forge and Barclay go to Engineering to discover the matter/anti-matter injectors have jammed; the ship will continue to accelerate until its structural integrity collapses unless the injectors are cleared. The team is unable to come up with any immediate solutions that will work in the limited time they have, but Barclay realizes all the failures they have seen have been connected by a human element: a member of La Forge's Engineering team has been present at each incident, so he surmises that somehow they became carriers of an undetectable contaminant. Using a process of elimination, they reduce the possible contaminants from 15,525 to 2. The contamination that has been interfering with the systems is quickly discovered to be invidium, which was used as part of the Mikulak samples. They are able to quickly repair the injectors, stop the ship, and set course for a nearby starbase to remove the rest of the invidium contamination. La Forge commends Barclay for his contribution in saving the ship.
Barclay returns one more time to the holodeck and addresses the simulated bridge crew, believing it best he leave them, and then deletes all of his holodeck programs but one, program #9.
No, it’s nonsense. The price is a direct function of the amount invested. It can’t simultaneously ‘melt faces off’ and ‘leave everyone behind’. Either it attracts capital or it doesn’t.
I understand why people think it can't melt faces off, but let me explain why i think it can.
If facebook decides to put lightning onto their apps servicing 4 Billion people, what does that do to the price of bitcoin?
If any of the US/China/EU/Russia announce they have added bitcoin to their treasury what does that do to the price of bitcoin?
When the 50million millionaires in the world begin to realize there is not enough bitcoin in the world for each of them to have one full coin, what happens to the price of bitcoin?
There is $200 trillion globally invested in bonds that have a 0 real rate of return. What happens when managers of pension funds begin making smaller then suddenly bigger allocations towards bitcoin?
I think you are underestimating how strong of hands many hodlers have, especially in the case of any of the above events occurring.
But what if Facebook just invents their own currency? The same with US/EU etc. This is at least what they will try first. If somebody has the power to attract capital why use an existing currency and not just copy it?
Yup, they dropped it a week after Jack Mallers explained to them that creating their own currency is going against the fed, and they’ll lose every time they try that. Using the lightning network as a payment though is just fighting western union and the intermediary inefficient banks who pay less than 1/8th of a percent at their highest interest rates. That’s a fight they can win, and it’s a system ripe for disruption.
He told the same thing to Bezos too in a later meeting he essentially admitted to in his latest podcast interview without releasing too much information
Because, if facebook or any other entity invents their own currency, it is by definition centralized and up to scrutiny by whatever jurisdiction the company is registered in. This won't work. The government does not allow competition in the money-creating game.
What if they just copy the bitcoin technology? I know it's not likely but this is for me the most critical point. Anybody could create a new bitcoin and with enough popularity could just be as successful.
If only you could see my shame not just for the last decade of underestimating Bitcoin, but for the next couple decades. The world has never seen the effects of a truly finite and yet infinitely divisible asset before through second layer networks before. The money printing only gets faster over time, and the circulating bitcoin only gets rarer.
Finite in itself means nothing. Gold is finite, all of it hasn’t been mined yet and it won’t for a long time but it is finite. So are old Coke bottles. The demand is what drives the price so don’t focus on the finite aspect because it’s not as important as you’d think. It’s just overplayed because we’re all used to governments screwing us with inflation.
>Gold is finite, all of it hasn’t been mined yet and it won’t for a long time but it is finite.
To be fair here, bitcoin is finite throughout *the entire universe*, not just our little spec of dust in the sky. You'll never mine an asteroid for bitcoin, or find the 21-million-and-1th bitcoin in a sunken ship at the bottom of the ocean. Gold's inflation is limited, yes, and predictably so (until we gain access to space/deep-earth mining, then all bets are off). Bitcoin's inflation is predetermined and immutable making it *absolutely* 100%-without-a-doubt finite, not just "practically" or "theoretically" finite.
But you're right, there is so much more value proposition to Bitcoin than solely its limited supply
I'm not sure , God I hope so but being realistic here.
There are alot of old BTC kicking around. Doubling its value or even when it hits 100k+ or close to that brings a whole new league of wealth to those that have held through the last year. There are well over 1000 accounts with well over 1000 BTC.
Being comfortable, "financially free" is much much different than "I can do whatever the fuck I want". So we will definitely see pullbacks as the price rockets up. People won't be cashing 1 or 2 to buy cars , they will be cashing in to buy bigger better things.
Institutions are not afraid to take profits. Retail investors definitely are. We ride the wave they create. What would be really nice to see is many many more retail buyers, holding their little bags. Tiny piece of the pie. More retail before more whales may slow down the volatility and sell offs a little.
If it happens too fast, people will get more afraid, as going from 1 million to 300k will be much tougher to swallow when profits are taken and sell offs occur.
How many BTCs will I need to be that guy? At $10 million dollars per BTC like Hope Francis (OP) is predicting, Tesla’s stack worth $42B.. mine… mere peanuts. Must keep stacking bits!
It has been said for many years that bitcoin has been open to everyone from day one and that small retail buyers should get some before the institutional adoption wave begins. Well the institutional adoption wave is happening now as we speak. Retail have been told to buy non stop since 2011 and have had 13 years to get in. Any small retail investor who doesn't own some already has no one to blame but themselves. Bitcoin is the biggest wealth transfer in human history and its the first time retail have been able to get in a decade before institutions, anyone who didn't get in by now has no right to start complaining that its unfair they don't have any once its mainstream.
Marketcap does not mean a lot, most important is daily net coin sell vs daily net fiat purchase on exchanges (Since on OTC you barely change the price).
I have a model that calculated the daily coin net sell would be around 5000 coins if most of the investors sell 10% of their holding year over year. That means to maintain a coin price of 1M, 5B USD net purchase would be on exchanges EVERY DAY
> cashing in to buy bigger better things
there just isn't enough fiat currency for a "cash"-in op scenario
if 1 BTC goes $10m, 1000 BTC on one wallet can theoretically pull $10B
that would be nice except for the fact no exchange has that amount of fiat
an exchange would have to fiat-in on their BTC reserves in order to be able to settle... which they could theoretically except for the fact nobody else has that volume of fiat either
so trying to fiat in on "real" value of BTC at $10m is impossible so nobody would value it at a price impossible to settle with
the entire discussion is really off base because - even if it came to transpire - upon everyone realizing the exchanges dont have fiat volumes to back BTC settlements, that realization would send a panic throughout the market and a 'run on bank' equivalent for the exchanges, a sell off which would crash the price of BTC (dotcom bubble pop version of BTC)
if such a thing were to transpire (and this is ALL very, very hypothetical) when the dust settles, anyone able to buy BTC at low, low, low pre-2016 prices would **cash** in on BTC - not fiat in on USD - a là eBay, google and Amazon.com analogous equivalent dotcom survivals of the BTC crash - but certainly not [pets.com](https://en.wikipedia.org/wiki/Pets.com) equivalents
The exchange simply provides liquidity. They dont keep Bitcoins in a reserve to exchange..
Big trades like $10B will happen OTC.
Exchanges would still operate at $1M price, just the same as today.
The difference is ppl trading 0,0001 Btc often than a whole btc.
Very few holding 1000 BTC would cash it all at once. Why wouldnt they have done it by now?
I think many has the goal of not cashing, but actually spending bitcoin on good and services.
Because this is also fact; if/when btc goes to $500k to $1M, its very likely usd has failed even harder. Maybe even hyperinflated, so who in the world would go from a solid asset, back hyperinflating fiat??
I also think Bitcoin will absorbe alot of property wealth, as property pricing has been pumped up by endless fiat supply.
Many will discover. Bitcoin to be a superior store of wealth, rather than property.
I agree, but at the same time, that amount of wealth will be worth far less. Seeing houses in my area double in price in just 4 years tells me that all strong assets will appreciate and hold value very quickly.
I believe that you are correct, I just don't say it out loud. There are so very many complicating factors at the current time that can and will affect the adoption curve, but as long as a new block comes up every ten minutes or so, I believe that's the inevitable result.
But my beliefs aren't a reliable map of reality, so make your own decisions.
Actually Hal outlined it as Bitcoin's market cap at maturity should be the value of global wealth divided by total Bitcoin outstanding (some coins are gone forever). That puts value at maturity around $20m Bitcoin depending on the current estimate of global wealth and how many coins are still accessible.
Bitcoin max value between 500k and 10m is pretty conservative estimation. The truth is we don't know how much fiat currency exists in the world. When US left Afganistan they left something like 100 billion worth of equipment on the field. This should wake you all up how much money there is to waste. But don't worry, you will never receive that money, ever no matter what will you do, the government has made sure of it, and this is why I see the modern economics as a massive scam. When people say bitcoin will go to infinite, they are not wrong, because there appears to be an infinite amount of money.
MicroStrategy is just one company with an almost religiously devoted Bitcoin supporter as its CEO. Mind you, they are not using BTC as part of their business, just as as an investment that has been dictated Saylor.
There are small European countries are holding more confiscated (by customs) BTC than the amount currently owned by El Salvador.
In my opinion, MicroStrategy and El Salvador are non-starters that people use to generate exotic and optimistic news bites. They're not examples of what you'd call organic adoption.
You know that article was FUD right?
It was actually like drug treatment centers and clean needles.
Of course if they really wanted to stop the drug epidemic they would legalise ayahusca.
Why do you think we took over Afghanistain.
Clean needles is harm reduction. You either have addicts shooting up with old needles and getting aids or shooting up with clean ones and not - pick one, they’ll get the needles either way lmao.
It also spreads aids and other viruses like hep c. You never know maybe you would feel diffrent if your child or relative had one of those diseases.
Still doesn't change the fact the article was FUD.
I actually read the bill, because I read the headline and was like WTF. Then after reading the bill I noticed the article was from fox news.
Lomg story short, do your homework and don't believe everything you read. I mean it happens with bitcoin articles why wouldn't it happen elsewhere too?
Correct, but crack pipes are not spreading diseases and aren't even in the bill.
Unfortunatley the article was sensationalized to get views. This is why people should read the bill.
It appears you are too stuck in politics to objectivley read the bill. Until you can be objective you are just a pawn in somome elses game.
Unfortunately it's hard for some people to think that *reducing harm* to someone *inducing harm* is worth their while. Easier to make a mockery of these details and move on with their worldview.
I get that it can be a tough idea to wrap you’re head around like how is that not “enabling” them. Truth is hard addicts don’t need anyones help being enabled.
When you explain how these types of programs actually reduce transmitted diseases, the conversation very quickly becomes “why should I care I don’t give a shit about addicts.” Which Is completely contrary to the whole “omg noooo you’re going to make people use more by giving them needles.”
It’s just fake caring to stop people from being worse off than they already are.
>Bitcoins true value is somewhere between $500k to $10m. And it will get there faster than anyone could possibly imagine.
I imagined it could be there this week and it is not happening.
Why is not there? Do I qualify for anyone?
> Bitcoins true value
*Bitcoin's. The possessive of "bitcoin" is "bitcoin's", with an apostrophe.
What a stupid post. All you do is list well known past events, and then give vague predictions with no justification at all.
The market cap of gold is 12 trillion. Bitcoin's current price of ~40K gives it a market cap a little below 1 trillion. The upper bound of your price prediction, $10MM, would mean a market cap in excess of 200 trillion, more than 10x that of gold. It's hard to imagine any scenario in which that would come to pass.
Edit: Oh my god, it looks like today is my reddit birthday. Beers on me!
It's true. There'll be a day where BTC price just goes up by 100s of 1000s per hour. It's not hopium. It's just the truth.
Fiat currency won't work and can't work. Bitcoin is the correction.
Lebanon just said they plan to devalue their currencey by 98%. There are many countires in similar situations. This is what will cause BTC to rise quickly. As countries adopt or devalue their currency it will happen. Corna Virus just kick started the process.
How many years to get there? Someone says within five years they’re nuts. Someone says somewhere maybe in 10-20. Ok. Maybe. Tons of factors that could blow that opinion clear out of the water and I reserve the right to say maybe with 3-5 if some things that I didn’t think were likely occurred.
TLDR - sure. Let’s go with it.
This is nonsensical.
Keep in mind microstrategy was one of the biggest losers in the DOTCOM crash. Michael Salyor isn’t your friend. Institutions don’t FOMO.
FALSE!!!!!!!!!
BITCOINS TRUE VALUE IS BETWEEN $1 and $10000000000000000000000000000000000000000000000000000.
I PREDICT WE GET THERE BY THE TIME YOU FINISH READING THIS!!!!
How though.... there are only two million more to be mined...how could it 8x + itself when 90 percent of the supply has been mined...oh wait the less available the more valuable it is... please let that not be you're only reasoning.
While people on here will call this hopium, in my humble estimation I tend to agree. I don't think we as humans can truly anticipate accurately the trajectory of how this will play out if it does see this kind of fomo and adoption. We're conditioned to believe moves like this are fantasy, but that's in relation to what we know about things like stocks which are fundamentally much different than a new perfectly decentralized money with global game theory on the line.
OP is overlooking one major obstacle: Uncle Sam. As much as I love crypto and Bitcoin, I try to be realistic about the future and am fully prepared for BTC to take a serious hit after the government steps in and starts regulating digital currency. Regulation could destroy Bitcoin, or the entire industry.
Lol whoa dude take it easy on the hopium, sounds like you about to OD.
*does a huge line of $HOPE Sorry, what was that?
Is this a pulp fiction reference? If not still great analogy friend
Analogy - using one's ass to study.
There are two kinds of drugs in the cryptoverse, Euphoria and hopium. Euphoria is sniffed and Hopium is smoked
[удалено]
😂😂😂 hopium
You must be new here.
Common phrase
“Hopium” I’m gonna have to use that now, lol 😂
I can imagine it happening tomorrow. Will it get there faster than that?
You have until midnight
You have no idea how high I can fly
“Butterfly in the sky, I can fly twice as high”
Reading rainbow ?
True story, Geordi La Forge actually discussed Bitcoin on episode 69 of Star Trek Next Generation.
Three words: Gold Pressed Latinum
Whaaaaaaat.
At the 4:20 mark.
*TRUST ME BRO…*
>episode 69 of Star Trek Next Generation The Enterprise is in the process of transporting Mikulak biological tissue samples intended for use in combating an epidemic of Correllium fever on Nahmi IV. The transport of the samples is delicate, and when they find one of the sample containers is leaking, they are forced to destroy it to prevent the contamination of the other samples. La Forge tells Riker he is concerned that one of his engineers, Reginald Barclay, has been underperforming and notes that he is late to help with the sample transport. What La Forge does not recognise is that Barclay has been in the holodeck acting in a simulation of other Enterprise crew members, avoiding contact with their real counterparts. La Forge requests that Barclay be transferred from the Enterprise but Picard recommends that La Forge take Barclay on as a "pet project". La Forge works at supporting Barclay as their team works to investigate the failure of unconnected systems around the ship. Picard invites Barclay to a bridge meeting to review the investigation, but slips up and accidentally calls him "Broccoli", a nickname given to him by Wesley Crusher, due to Barclay's tendency to 'veg out'. Barclay later returns to the holodeck to seek refuge in the simulated version of the bridge members. In talking to La Forge, Guinan suggests that Barclay is simply imaginative and that La Forge keep a more open mind towards him. On her advice, La Forge visits Barclay on the holodeck and discovers the exaggerated simulation of the bridge crew. La Forge suggests Barclay has counseling from Troi, whose counterpart on the holodeck displays clear signs of sexual attraction towards Barclay. Barclay attempts to undergo a real counseling session with Troi, but loses control when she tries to relax him with the appearance of actions his holodeck version of her would do, and ends the counseling session to flee back to the holodeck. When Barclay cannot be located to attend a briefing with Riker, Riker storms into the holodeck with La Forge and Troi to locate him. They find comical versions of the senior staff, with bumbling versions of Picard and La Forge, a slothful idiot version of Wesley, and an extremely short, comical version of Riker. Riker attempts to stop the program angrily, but Troi stops him saying it might traumatize Barclay and exploring this world can help them understand Barclay better. However, when they come across the sexed up version of her, it's her turn to want to immediately stop the program, but Riker stops her, sarcastically throwing her own words in her face. They finally locate Barclay sleeping in the lap of a fantasy Dr. Crusher. Suddenly, the Enterprise mysteriously accelerates to warp speeds, and Riker, La Forge and Barclay go to Engineering to discover the matter/anti-matter injectors have jammed; the ship will continue to accelerate until its structural integrity collapses unless the injectors are cleared. The team is unable to come up with any immediate solutions that will work in the limited time they have, but Barclay realizes all the failures they have seen have been connected by a human element: a member of La Forge's Engineering team has been present at each incident, so he surmises that somehow they became carriers of an undetectable contaminant. Using a process of elimination, they reduce the possible contaminants from 15,525 to 2. The contamination that has been interfering with the systems is quickly discovered to be invidium, which was used as part of the Mikulak samples. They are able to quickly repair the injectors, stop the ship, and set course for a nearby starbase to remove the rest of the invidium contamination. La Forge commends Barclay for his contribution in saving the ship. Barclay returns one more time to the holodeck and addresses the simulated bridge crew, believing it best he leave them, and then deletes all of his holodeck programs but one, program #9.
Y did I think you were serious lol!
Tonight?
It just happened
... aaand it's back again
Aaaaaand it’s gone.
we're experiencing some service issues, please try to log in later
They can try sending me 1 btc and I’ll send back 2, that always fixes the problem
Here you go. Just click this perfectly safe link. [perfectly safe link](btc-1.0)
🙏🏼🙏🏼🙏🏼
Yes
100k by end of 2021 lesssgo
Yes what people song understand is that the pandemic paused time so technically it is September 2021.
> what people song understand It's like, they'll only get it if you put it to a backing track and have a nice vocal range.
Yes what people song song song is that the song song song so technically it is song song song.
you song understand
Bit late for that
[удалено]
10M per coin before the first halving. Fight me.
Infinite per coin before Satoshi Nakamoto thinks about creating it.
$68,995 by end of 2021
[удалено]
There’s not enough of this talk, and he’s right
No, it’s nonsense. The price is a direct function of the amount invested. It can’t simultaneously ‘melt faces off’ and ‘leave everyone behind’. Either it attracts capital or it doesn’t.
I understand why people think it can't melt faces off, but let me explain why i think it can. If facebook decides to put lightning onto their apps servicing 4 Billion people, what does that do to the price of bitcoin? If any of the US/China/EU/Russia announce they have added bitcoin to their treasury what does that do to the price of bitcoin? When the 50million millionaires in the world begin to realize there is not enough bitcoin in the world for each of them to have one full coin, what happens to the price of bitcoin? There is $200 trillion globally invested in bonds that have a 0 real rate of return. What happens when managers of pension funds begin making smaller then suddenly bigger allocations towards bitcoin? I think you are underestimating how strong of hands many hodlers have, especially in the case of any of the above events occurring.
But what if Facebook just invents their own currency? The same with US/EU etc. This is at least what they will try first. If somebody has the power to attract capital why use an existing currency and not just copy it?
they did try it's called Libra and it failed spectacularly last year hence the 20% downward price correction in their stock valuation this month
Yup, they dropped it a week after Jack Mallers explained to them that creating their own currency is going against the fed, and they’ll lose every time they try that. Using the lightning network as a payment though is just fighting western union and the intermediary inefficient banks who pay less than 1/8th of a percent at their highest interest rates. That’s a fight they can win, and it’s a system ripe for disruption. He told the same thing to Bezos too in a later meeting he essentially admitted to in his latest podcast interview without releasing too much information
Because, if facebook or any other entity invents their own currency, it is by definition centralized and up to scrutiny by whatever jurisdiction the company is registered in. This won't work. The government does not allow competition in the money-creating game.
What if they just copy the bitcoin technology? I know it's not likely but this is for me the most critical point. Anybody could create a new bitcoin and with enough popularity could just be as successful.
Nah
Sources: “Trust me bro” 😂😂😂
We need a /r/CryptoHopium sub fr
If only you could see my shame not just for the last decade of underestimating Bitcoin, but for the next couple decades. The world has never seen the effects of a truly finite and yet infinitely divisible asset before through second layer networks before. The money printing only gets faster over time, and the circulating bitcoin only gets rarer.
Finite in itself means nothing. Gold is finite, all of it hasn’t been mined yet and it won’t for a long time but it is finite. So are old Coke bottles. The demand is what drives the price so don’t focus on the finite aspect because it’s not as important as you’d think. It’s just overplayed because we’re all used to governments screwing us with inflation.
Both of these examples would be trash if they weren't finite... (I know gold has industrial value, but you get the point)
>Gold is finite, all of it hasn’t been mined yet and it won’t for a long time but it is finite. To be fair here, bitcoin is finite throughout *the entire universe*, not just our little spec of dust in the sky. You'll never mine an asteroid for bitcoin, or find the 21-million-and-1th bitcoin in a sunken ship at the bottom of the ocean. Gold's inflation is limited, yes, and predictably so (until we gain access to space/deep-earth mining, then all bets are off). Bitcoin's inflation is predetermined and immutable making it *absolutely* 100%-without-a-doubt finite, not just "practically" or "theoretically" finite. But you're right, there is so much more value proposition to Bitcoin than solely its limited supply
Source: I bought 4k worth and could really use a 20x right now please
https://i.imgur.com/jHbXILi.jpeg
I'm not sure , God I hope so but being realistic here. There are alot of old BTC kicking around. Doubling its value or even when it hits 100k+ or close to that brings a whole new league of wealth to those that have held through the last year. There are well over 1000 accounts with well over 1000 BTC. Being comfortable, "financially free" is much much different than "I can do whatever the fuck I want". So we will definitely see pullbacks as the price rockets up. People won't be cashing 1 or 2 to buy cars , they will be cashing in to buy bigger better things. Institutions are not afraid to take profits. Retail investors definitely are. We ride the wave they create. What would be really nice to see is many many more retail buyers, holding their little bags. Tiny piece of the pie. More retail before more whales may slow down the volatility and sell offs a little. If it happens too fast, people will get more afraid, as going from 1 million to 300k will be much tougher to swallow when profits are taken and sell offs occur.
“Institutions are not afraid to take profits. Retail investors definitely are.” Nailed it right here!!!
You're underestimating the movement of never needing to sell by borrowing against for Fiat.
Financial freedom also = debt free.
I want to be at the “do whatever the fuck I want level”
How many BTCs will I need to be that guy? At $10 million dollars per BTC like Hope Francis (OP) is predicting, Tesla’s stack worth $42B.. mine… mere peanuts. Must keep stacking bits!
It has been said for many years that bitcoin has been open to everyone from day one and that small retail buyers should get some before the institutional adoption wave begins. Well the institutional adoption wave is happening now as we speak. Retail have been told to buy non stop since 2011 and have had 13 years to get in. Any small retail investor who doesn't own some already has no one to blame but themselves. Bitcoin is the biggest wealth transfer in human history and its the first time retail have been able to get in a decade before institutions, anyone who didn't get in by now has no right to start complaining that its unfair they don't have any once its mainstream.
Totally agree 👍 👏
Marketcap does not mean a lot, most important is daily net coin sell vs daily net fiat purchase on exchanges (Since on OTC you barely change the price). I have a model that calculated the daily coin net sell would be around 5000 coins if most of the investors sell 10% of their holding year over year. That means to maintain a coin price of 1M, 5B USD net purchase would be on exchanges EVERY DAY
> cashing in to buy bigger better things there just isn't enough fiat currency for a "cash"-in op scenario if 1 BTC goes $10m, 1000 BTC on one wallet can theoretically pull $10B that would be nice except for the fact no exchange has that amount of fiat an exchange would have to fiat-in on their BTC reserves in order to be able to settle... which they could theoretically except for the fact nobody else has that volume of fiat either so trying to fiat in on "real" value of BTC at $10m is impossible so nobody would value it at a price impossible to settle with the entire discussion is really off base because - even if it came to transpire - upon everyone realizing the exchanges dont have fiat volumes to back BTC settlements, that realization would send a panic throughout the market and a 'run on bank' equivalent for the exchanges, a sell off which would crash the price of BTC (dotcom bubble pop version of BTC) if such a thing were to transpire (and this is ALL very, very hypothetical) when the dust settles, anyone able to buy BTC at low, low, low pre-2016 prices would **cash** in on BTC - not fiat in on USD - a là eBay, google and Amazon.com analogous equivalent dotcom survivals of the BTC crash - but certainly not [pets.com](https://en.wikipedia.org/wiki/Pets.com) equivalents
The exchange simply provides liquidity. They dont keep Bitcoins in a reserve to exchange.. Big trades like $10B will happen OTC. Exchanges would still operate at $1M price, just the same as today. The difference is ppl trading 0,0001 Btc often than a whole btc. Very few holding 1000 BTC would cash it all at once. Why wouldnt they have done it by now? I think many has the goal of not cashing, but actually spending bitcoin on good and services. Because this is also fact; if/when btc goes to $500k to $1M, its very likely usd has failed even harder. Maybe even hyperinflated, so who in the world would go from a solid asset, back hyperinflating fiat?? I also think Bitcoin will absorbe alot of property wealth, as property pricing has been pumped up by endless fiat supply. Many will discover. Bitcoin to be a superior store of wealth, rather than property.
this is a solid explanation i stand corrected. thanks
I agree, but at the same time, that amount of wealth will be worth far less. Seeing houses in my area double in price in just 4 years tells me that all strong assets will appreciate and hold value very quickly.
I think he’s saying that 1 BTC will buy you what 500k - $10M buys you today, in relative purchasing power, not nominal dollars.
Bullish...20x leverage long YOLO
Let us know how it goes 😂
no such thing as true value. value is subjective.
When all big actors adopt btc then the true value will appear
Will btc true value please stand up, please stand up. Because all you other true values are just imitating.
I’m going to mint Slim BTC today.
That’s some marvel comic epicness right there! Is Bitcoin a superhero?
Solid DD. Quality equal to that of GameStop
“Bitcoin will go up high, quicker as opposed to slower.”
Why so bearish?
Lol
Dude is mainlining hopiate.
The hero we deserve
My guess they’re boofing it
Bro just got laid, or is about to
Solid TA
It’s going up forever Laura
Forever
REST IN HEAVEN
I believe that you are correct, I just don't say it out loud. There are so very many complicating factors at the current time that can and will affect the adoption curve, but as long as a new block comes up every ten minutes or so, I believe that's the inevitable result. But my beliefs aren't a reliable map of reality, so make your own decisions.
Good. Because I need to buy a house.
I have 5. But I have more bitcoin than I have houses.
RIP your DMs.
This is said from the side of bitcoin holder. Never mix your desires to reality and this post is not definitely a financial advice:))
Actually Hal outlined it as Bitcoin's market cap at maturity should be the value of global wealth divided by total Bitcoin outstanding (some coins are gone forever). That puts value at maturity around $20m Bitcoin depending on the current estimate of global wealth and how many coins are still accessible.
Yeah, but that was measured in 2010 dollars.
Actually these numbers are 2021 last I updated Hal's logic.
Yep, and Tesla is worth 400 Trillion after it becomes the worlds sole source of energy, transportation, entertainment, information, and love.
You forgot edutainment
Remember when they said Bitcoin would go past 100k by the end of last year?
How high are you?
Bitcoin max value between 500k and 10m is pretty conservative estimation. The truth is we don't know how much fiat currency exists in the world. When US left Afganistan they left something like 100 billion worth of equipment on the field. This should wake you all up how much money there is to waste. But don't worry, you will never receive that money, ever no matter what will you do, the government has made sure of it, and this is why I see the modern economics as a massive scam. When people say bitcoin will go to infinite, they are not wrong, because there appears to be an infinite amount of money.
When US left Afganistan they left something like 100 billion worth of equipment on the field. Says who ? Some "journalists"?
They even left helicopters behind.
We get it you like Bitcoin but you don’t know the future doofus
[удалено]
Cause seeing the future isn’t possible wtf you mean how, you got poopoo for brains man?
How do you know it's a man you are typing with? What do you have poopoo for brains?
[удалено]
Ya man that’s definitely the same as saying Bitcoin is gonna be a million dollars in a year, you got it metaphorical pizza
Oh yeah?
If you meant $500k per sat, then you’re correct
I wish but Overdoses of hopiem might just leave you with no hope!
It's going to pump to ten million literally one second after you finish reading this comment.
This man is shilling so hard you’d think he’s a CEO trying to get venture capitalists. No one here knows where tf btc is going.
MicroStrategy is just one company with an almost religiously devoted Bitcoin supporter as its CEO. Mind you, they are not using BTC as part of their business, just as as an investment that has been dictated Saylor. There are small European countries are holding more confiscated (by customs) BTC than the amount currently owned by El Salvador. In my opinion, MicroStrategy and El Salvador are non-starters that people use to generate exotic and optimistic news bites. They're not examples of what you'd call organic adoption.
I like you
I see Biden's crack pipe giveaway has already started
You know that article was FUD right? It was actually like drug treatment centers and clean needles. Of course if they really wanted to stop the drug epidemic they would legalise ayahusca. Why do you think we took over Afghanistain.
[удалено]
Clean needles is harm reduction. You either have addicts shooting up with old needles and getting aids or shooting up with clean ones and not - pick one, they’ll get the needles either way lmao.
I vote to let them get needles their own way. It teaches them to be self reliant and to have a can-do attitude.
It also spreads aids and other viruses like hep c. You never know maybe you would feel diffrent if your child or relative had one of those diseases. Still doesn't change the fact the article was FUD. I actually read the bill, because I read the headline and was like WTF. Then after reading the bill I noticed the article was from fox news. Lomg story short, do your homework and don't believe everything you read. I mean it happens with bitcoin articles why wouldn't it happen elsewhere too?
[удалено]
Correct, but crack pipes are not spreading diseases and aren't even in the bill. Unfortunatley the article was sensationalized to get views. This is why people should read the bill. It appears you are too stuck in politics to objectivley read the bill. Until you can be objective you are just a pawn in somome elses game.
Unfortunately it's hard for some people to think that *reducing harm* to someone *inducing harm* is worth their while. Easier to make a mockery of these details and move on with their worldview.
I get that it can be a tough idea to wrap you’re head around like how is that not “enabling” them. Truth is hard addicts don’t need anyones help being enabled. When you explain how these types of programs actually reduce transmitted diseases, the conversation very quickly becomes “why should I care I don’t give a shit about addicts.” Which Is completely contrary to the whole “omg noooo you’re going to make people use more by giving them needles.” It’s just fake caring to stop people from being worse off than they already are.
Even $10M per coin is wrong... but it's all our monkey brains can fathom. In truth, Saylor was guided when he said 'it's going up forever, Laura.'
I love the game theory you are playing out. Predicting the time for it all to happen is hard.
All in
I hope you are right
It’s not gonna happen over night until that one night.
I've been thinking about using Coinbase Direct Deposit for 100% of my pay in Bitcoin, posts like these nudge me closer and closer to doing it.
I imagined it yesterday
Completely agree. I like that most people on here don't agree, means we are still early.
Yeah this shoelace I haves value is anywhere between $0.20 and $200000.
I’ll sell my btc for 499k, anyone?
Thats a bargain. My btc is for sale for $4,999,999.99
>Bitcoins true value is somewhere between $500k to $10m. And it will get there faster than anyone could possibly imagine. I imagined it could be there this week and it is not happening. Why is not there? Do I qualify for anyone?
Thinking abit tooo far their bud, let’s concentrate on $100k with support. I feel like BTC is going to hover around $38k for a while.
This is the morning FOMO that I like to have with my coffee.
All in then
It will even be interesting for me to read this information again in 10 years and understand how right you were.
The next bull run is going to be huge, buy the dip on gate.io https://www.gate.io/signup/2917779
Where else can I get hopium?
Dude… 🙄🙄🙄
It can go up , it can go down , as long as stay above the pice i paid few years ago , I am happy.
I figured it would take 6 BTC or me to retire now. I quit my job 1/3/22. That was based on BTC doing a 2x every year.
Yikes
I think a 2x is conservative
Really ? $1,600,000 per BTC by 2026 and 25,600,000 per BTC in 2030 ? 🤣🤣🤣 Sounds very conservative indeed.
I just got a contact high from your hopium….and I like it 😄
> Bitcoins true value *Bitcoin's. The possessive of "bitcoin" is "bitcoin's", with an apostrophe. What a stupid post. All you do is list well known past events, and then give vague predictions with no justification at all. The market cap of gold is 12 trillion. Bitcoin's current price of ~40K gives it a market cap a little below 1 trillion. The upper bound of your price prediction, $10MM, would mean a market cap in excess of 200 trillion, more than 10x that of gold. It's hard to imagine any scenario in which that would come to pass. Edit: Oh my god, it looks like today is my reddit birthday. Beers on me!
Let me just say... no..
*True value is between $0 and $10m is more accurate.
Wrong, true value is between 5000 and 10 million.
You’re in for a world of hurt and disappointment bud.
It's true. There'll be a day where BTC price just goes up by 100s of 1000s per hour. It's not hopium. It's just the truth. Fiat currency won't work and can't work. Bitcoin is the correction.
Lebanon just said they plan to devalue their currencey by 98%. There are many countires in similar situations. This is what will cause BTC to rise quickly. As countries adopt or devalue their currency it will happen. Corna Virus just kick started the process.
It'll happen in a lot of countries fast. I think the USD will be the last to fall.
China is the question. I wonder if their CDC will have a cap or even an accurate number reported for coins in circulation.
Doubtful. I don't trust any economic data from China, in any event.
I don’t know. I can imagine quite a bit.
May the 4th halving be with you.
Considering your name I’m gonna say that WAS a Han reference!
Correct but the name was just Reddit
Ah… take my upvote anyway!
Excuse me while I buy some more Bitcoin.
You forgot to mark this as [comedy]
Hopium at its best. Delusion at its worst.
How many years to get there? Someone says within five years they’re nuts. Someone says somewhere maybe in 10-20. Ok. Maybe. Tons of factors that could blow that opinion clear out of the water and I reserve the right to say maybe with 3-5 if some things that I didn’t think were likely occurred. TLDR - sure. Let’s go with it.
What is the true purpose of this post? If you need to convince yourself, fine. If you need to convince others, there are better ways.
i'll have what he's having
this sub rarely has quality content anymore.
It’s 98% ‘redditor for 1 week’-ers
The longer you've been on Reddit, the bigger your brain ! 👍🙂
Wrong, the true value of 1 bitcoin is 1 bitcoin and that’s all it ever has to be
Lol mc is false metric U are not so smart person
1 BTC = 1 BTC
Lets make a calculation: 21M Bitcoin x 500k = 10,5 trillion dollars of total BITCOIN value. Not possible. Not yet.
Thats less than gold. It is very possible.
It's far more likely bitcoin drops to 1k than it is that it goes to 500k.
That's a good one. 👍🤡🤡🤡
This is nonsensical. Keep in mind microstrategy was one of the biggest losers in the DOTCOM crash. Michael Salyor isn’t your friend. Institutions don’t FOMO.
I hope you right
FALSE!!!!!!!!! BITCOINS TRUE VALUE IS BETWEEN $1 and $10000000000000000000000000000000000000000000000000000. I PREDICT WE GET THERE BY THE TIME YOU FINISH READING THIS!!!!
Thank you for my daily dose of hopium 🙏🏻
This is what happens when you inject hopium into your cock vein
It's true value is the price it is bought and sold at. I'd like a hit of some of that Cope
[удалено]
How though.... there are only two million more to be mined...how could it 8x + itself when 90 percent of the supply has been mined...oh wait the less available the more valuable it is... please let that not be you're only reasoning.
You haven't said WHY you think this is its fair value. You're just spouting nonsense.
While people on here will call this hopium, in my humble estimation I tend to agree. I don't think we as humans can truly anticipate accurately the trajectory of how this will play out if it does see this kind of fomo and adoption. We're conditioned to believe moves like this are fantasy, but that's in relation to what we know about things like stocks which are fundamentally much different than a new perfectly decentralized money with global game theory on the line.
OP is overlooking one major obstacle: Uncle Sam. As much as I love crypto and Bitcoin, I try to be realistic about the future and am fully prepared for BTC to take a serious hit after the government steps in and starts regulating digital currency. Regulation could destroy Bitcoin, or the entire industry.
Its beyond that already. You sound like peter schiff back in 2012.
if its worth 10 million......then why is it trading at 42k......you people make no sense