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Title: BTC Fiat Value & "the Satoshi era" Post by: xempew on February 21, 2013, 09:07:28 AM Dear fellow Bitcoin Sirs-- I'm sure this thread is like beating a dead horse with a stick, but I'll do it anyways...
I just don't see any reasons for bitcoin to drop in fiat value in the long term. Diminishing supply, increasing production cost, current trend of notable vendor adoption (albeit in 'techie' circles for now) / increased demand. The 'network effect' could be difficult to estinguish at this point-- explicity outlawing BTC might serve to only amplify it. I think we're moving away from all our bit-eggs being in one Silk Road basket, if you will. I patiently await the Satoshi era. Title: Re: BTC Fiat Value & "the Satoshi era" Post by: Stephen Gornick on February 21, 2013, 11:24:20 AM increasing production cost, Increasing production costs might actually cause greater supply to be sent to market as miners need to sell more coins to pay for those higher costs. Title: Re: BTC Fiat Value & "the Satoshi era" Post by: Liquid on February 21, 2013, 12:44:55 PM The Technological Satoshi era is here :D
Title: Re: BTC Fiat Value & "the Satoshi era" Post by: BTC4Victory on February 21, 2013, 01:01:27 PM The Technological Satoshi era is here :D The Satoshularity? ;D Title: Re: BTC Fiat Value & "the Satoshi era" Post by: Richy_T on February 21, 2013, 06:05:44 PM Satoshi <3 Streisand.
Title: Re: BTC Fiat Value & "the Satoshi era" Post by: trekky0623 on February 21, 2013, 06:58:58 PM There isn't a diminishing supply. Bitcoins are made so that they ever increase in supply.
Title: Re: BTC Fiat Value & "the Satoshi era" Post by: Crypt_Current on February 21, 2013, 08:44:13 PM There isn't a diminishing supply. Bitcoins are made so that they ever increase in supply. No. Supply diminishes short-term when block reward halves; increases short-term when network hashing capability is added (when power is added significantly, anyway). If you meant the TOTAL supply increases as time goes on, then yes, it asymptoticly approaches 21 million. But approaching an asymptote implies decreased acceleration. So any implied acceleration in your statement of "increase in supply" should be quickly quashed. Title: Re: BTC Fiat Value & "the Satoshi era" Post by: arepo on February 22, 2013, 12:32:03 AM There isn't a diminishing supply. Bitcoins are made so that they ever increase in supply. No. FTFY the supply of bitcoin is increasing at an asymptotically decreasing rate. |