posted on Dec, 11 2017 @ 10:53 PM
a reply to: St Udio
There are obviously those who are in from the start or very near the start, and they personally hold outrageous amounts of bitcoin. I imagine there
are individuals in the development chain that hold a million bitcoins. Even at the thousand level or maybe ten thousand level there are going to be
people who have struck it almighty rich. Either they are brilliant or foolishly lucky - who really knows, eh? But these people are all going to want
power in the real world via US Dollars so they will sell until satisfied. A quick rush to the exit causes a collapse. A paced movement to dollars is
the trick. At this current $16,000 price level the ones with 1000 BTC are holding $16,000,000 US on paper. That is serious life-changing money. Even
the person with 100 coins has $1.6 million on paper. Those 100 coins used to cost 10 cents or a dollar or 10 dollars... crazy ridiculous. We are
seeing something off the charts ridiculous in this. The very fact that a nerdy computer game player sitting on the couch in his momma's basement could
be a millionaire is unsettling. It actually belittles all the labor that individuals do in this world for much lower compensation.
Having said that, I want to talk about the price. There is a theory going around that the goal is to have 1 Satoshi equal to 1 Cent. That would make
the price of one bitcoin $1,000,000 US or $1,000,000 EUR or $1,000,000 whatever currency you have. The smallest unit of counting, the penny in my
case, would be the equivalent of one satoshi.
Now you know the price target.... BTC $1,000,000.
At current BTC levels you can theoretically still jump into the bitcoin waters and eventually reap 62X your money.
Who wouldn't try that? Seriously. The money keeps coming in. We saw BTC drop from 17K down to 13K and now we are back up to 16K.
The Chicago bankers are very afraid. Believe it. They are going to try all the mainstream psychological tricks in their book. They are going to scream
bloody murder, hire hackers to crash systems, legislate for the ban of BTC/Cash swaps and basically out themselves for who they really are. Eventually
the stock market will begin a selloff as it always does and they'll blame bitcoin for it somehow.