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Title: What happens when the Bitcoin prices are too high and more Miners come online? Post by: bitcoinconnection on June 04, 2011, 10:30:35 PM What happens when the Bitcoin prices are too high and more Miners come online?
Why I ask this? Demand Destruction happens when the price for a stocks, commodities, Homes etc. becomes so high that the average person cannot afford it. BTC "$17.00, $30.00, $50.00 $100.00". Bitcoin Miners are always coming online and adding BTC to the market causing a gult. At what price will a flood of sell order go in trapping traders and their stockpile of Bitcoin? Latest Bitcoin news at http://www.bitcoinconnection.com KT Title: Re: What happens when the Bitcoin prices are too high and more Miners come online? Post by: Bazil on June 04, 2011, 10:46:30 PM What happens when the Bitcoin prices are too high and more Miners come online? Why I ask this? Demand Destruction happens when the price for a stocks, commodities, Homes etc. becomes so high that the average person cannot afford it. BTC "$17.00, $30.00, $50.00 $100.00". Bitcoin Miners are always coming online and adding BTC to the market causing a gult. At what price will a flood of sell order go in trapping traders and their stockpile of Bitcoin? Latest Bitcoin news at http://www.bitcoinconnection.com KT Bitcoins are almost infinitly divisible. Most people don't want to buy 1/1 millionth of a house, you can with bitcoins Title: Re: What happens when the Bitcoin prices are too high and more Miners come online? Post by: charliesheen on June 05, 2011, 03:20:49 AM scarcity goes up(supply goes down) and BTC prices rise
Title: Re: What happens when the Bitcoin prices are too high and more Miners come online? Post by: em3rgentOrdr on June 05, 2011, 03:24:41 AM scarcity goes up(supply goes down) and BTC prices rise Thankyou. Title: Re: What happens when the Bitcoin prices are too high and more Miners come online? Post by: Dude65535 on June 05, 2011, 03:46:26 AM More miners does not mean more bitcoins it means the existing creation of bitcoins gets spread more finely across more people.
Title: Re: What happens when the Bitcoin prices are too high and more Miners come online? Post by: tabshift on June 05, 2011, 04:12:56 AM More miners does not mean more bitcoins it means the existing creation of bitcoins gets spread more finely across more people. Exactly. The rate of bitcoin production is more or less constant. Title: Re: What happens when the Bitcoin prices are too high and more Miners come online? Post by: shady financier on June 05, 2011, 04:29:47 AM Is it possible to buy a fraction of a bitcoin yet? I've not used MtGox or other exchanges yet so don't know. But if it were up to me, it would always be possible to buy whatever a dollar, pound or euro gets you of coins.
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