4 ms·

> Not really. That 1 small country can be pushed diplomatically until it gives up on Bitcoin all too easily. The fact that tax havens like Monaco, Bahamas, Swi

> Not really. That 1 small country can be pushed diplomatically until it gives up on Bitcoin all too easily. The fact that tax havens like Monaco, Bahamas, Switzerland, etc still thrive prove that this is not the case. > As for the "$1,000,000" thing, LOL, it seems the tulip/gold rush/quick bucks from nothing dream will never dissapear. It might be worth considering that bitcoin has already multiplied in value by 1000 times several times, from $0.001 to $1 to $1,000.

cstejerean 13y ago
That is not argument for further 1000x multiplication. By definition, an asset in a speculative bubble has experienced rapid growth in its past. That doesn't mean that such growth will continue into the future.
- jasonlingx 13y ago
  > That is not argument for further 1000x multiplication. I never made that argument. I am simply stating facts that one might want to consider before prophesizing with absolute certainty that a bitcoin will never be worth a million dollars.
  - JamesArgo 13y ago
    The numbers don't work out for 1000x multiplication, at least without vast inflation of the dollar. You would need a very large percentage of the world using bitcoin daily to get that type of return. One small country isn't going to do it.
    - waterlesscloud 13y ago
      I'm not disagreeing with you, but since you say the numbers don't work out, what are the numbers?
coldtea 13y ago
>The fact that tax havens like Monaco, Bahamas, Switzerland, etc still thrive prove that this is not the case. Those tax heavens heavily benefit existing companies and rich individuals, that's why they are not affected -- they don't release alternative currencies threatening establishd states and the almighty dollar (and still, the IRS for example pushed them to give US citizens banking records and such). >It might be worth considering that bitcoin has already multiplied in value by 1000 times several times, from $0.001 to $1 to $1,000. A, like the tulips. A sure thing to wait for the $1,000,000 then. After all growth is unbounded...
merloen 13y ago
> It might be worth considering that bitcoin has already multiplied in value by 1000 times several times, from $0.001 to $1 to $1,000. That doesn't make another 1000x multiplication more likely. Quite the contrary.

cstejerean 13y ago

That is not argument for further 1000x multiplication. By definition, an asset in a speculative bubble has experienced rapid growth in its past. That doesn't mean that such growth will continue into the future.

jasonlingx 13y ago
> That is not argument for further 1000x multiplication. I never made that argument. I am simply stating facts that one might want to consider before prophesizing with absolute certainty that a bitcoin will never be worth a million dollars.
- JamesArgo 13y ago
  The numbers don't work out for 1000x multiplication, at least without vast inflation of the dollar. You would need a very large percentage of the world using bitcoin daily to get that type of return. One small country isn't going to do it.
  - waterlesscloud 13y ago
    I'm not disagreeing with you, but since you say the numbers don't work out, what are the numbers?

coldtea 13y ago

>The fact that tax havens like Monaco, Bahamas, Switzerland, etc still thrive prove that this is not the case. Those tax heavens heavily benefit existing companies and rich individuals, that's why they are not affected -- they don't release alternative currencies threatening establishd states and the almighty dollar (and still, the IRS for example pushed them to give US citizens banking records and such). >It might be worth considering that bitcoin has already multiplied in value by 1000 times several times, from $0.001 to $1 to $1,000. A, like the tulips. A sure thing to wait for the $1,000,000 then. After all growth is unbounded...

merloen 13y ago

> It might be worth considering that bitcoin has already multiplied in value by 1000 times several times, from $0.001 to $1 to $1,000. That doesn't make another 1000x multiplication more likely. Quite the contrary.