Bitcoin Forum

only approx 10 million bitcoins in circulation

at 30US each thats roughly only a few million pizza orders, enough to feed barely a whole country for 1 day

bitcoin is going to be the shadow global inflation controller so it needs to increase in price to do its job

selling any coin right now is ridiculous at the current low unexplainable price  ???  everyone around the globe

is starting to hear about bitcoin and they are going to need to get in at some point or they will be

reliant on the highly inflationary fiat for the rest of their life  :D

Just wanted to say, the price is $45, not $30  :D

well i know people are starting to put their coins up for exorbitant prices on exchanges  so when the number of sellers dry up they will be collecting a windfall from people that will pay any price for some coin

your sell orders will be behind these people  :D

I don't think we'll see and sub Satoshi values for many decades or centuries to come.

I am fairly certain that a change would cause a lot of problems because many programmers use the integer value of 1 Satoshi to maintain precision (that gets lost when you use floats).

yes but you can spend a BTC more than once a day!

This defeats the main purpose of Bitcoins as their value would then rely solely on fiat. I'm pretty sure the original view was to have them be a separate medium of exchange.

You can buy at that price if you deem it appropriate, the market will respond, I promise.

The true question is what can you buy for 1 BTC then. I have a net worth of more than 1.5 quadrillion Zimbabwe dollars. That doesn't make me rich in any way.  :D

1 satoshi equals .10 cents.

I agree with you completely, but how do we bridge the gap and distribute bitcoin... There is a line generally from point A to B.

Be patient, its only been about 3-4 years. And only about 2 months since the Cyprus fiasco. Cyprus was Bitcoins mainstream debute, if you compare it to other technology adoption rate trends, the next 2-6 years look VERY strong for bitcoin. I tell my friends, just go and buy 1 bitcoin. and have all of your friends go buy 1 bitcoin, eventually there will not be any left and the price for the remaining few will be very high, if not completely non existant. Imagine the demand to keylog your password to your encrypted drive.

Er, I don't think you understood where I was coming from. I was trying to say that in this scenario Bitcoin would be increasing linearly with USD, which isn't what we want. An exchange rate is fine, but not if it's 1:1, because then Bitcoin isn't bringing anything new to the game. It's just a mask for USD.

Go get OPEC to accept payment of oil for .00001000/barrel to value 1 satotshi at .10cents @ $100/barrel. Making a gallon of gas at $4/gal cost roughly .00000050

if you could get that to happen I think the economy could shift effortlessly into bitcoin. As 1 bitcoin would begin to have a value of atleast $100,000,000

Not bad if you ask me, compared to my holdings. Get outta the way Bill Gates, There is a new sherrif in town. SUCKER!

We all know he was probably one of the first 100million$ to pile into BTC

As he has already called it a "tour de force" Best interview ever, sitting next to munger and buffet.

I wonder what Stephen Hawking thinks of Bitcoin.

"It's beautiful, no banker can manipulate, no government can overpower it, it is scalable to support the whole economy fairly, I have my private keys stored in my infinite brain BITCHES!"

I do love how bitcoin's scarcity is more or less has its price rigged to the upside only.

I doubt it.. But we can only hope

Perhaps this will describe all of us someday:

http://rlv.zcache.com/bitcoin_new_wealthy_elite_key_chains-r124b14691ed2405e84654fd0b046681b_x7j3z_8byvr_125.jpg?bg=0xffffff (http://www.zazzle.com/bitcoin_new_wealthy_elite_key_chains-146442550379570732?rf=238710598307006644)

If you owned 1 bitcoin, I wonder how much it would need to be worth to at the very least, never work again, at best, mansions, yatchs, airplanes, diamonds, girls.

One thing i absolutely noticed at the conference was the complete lack of human, in humans. I met 1 person who had already done well with bitcoin, but he understood the dire necessity to get the poorer nations onboard first.

Bitcoin will never get to those levels with out serious education, promotion.

Yeah crazy to sell at 210 and buy back 3 times as much at 70 when the price will be so high someday.  You would only have 3x as much money there....ridiculous.  Better to just blindly hold.

Who knew it was done going higher at 255? If you were so lucky, how would you know to buy back in at 70 and not 150 as it was heading back up......

the problem with this logic, that if BTC is going to be successful it will jump by orders of magnitude, and you don't know when, eg it could have gone to 2000, and dropped back to 900, and selling at 210 would leave you locked out forever.

eg $10c to $1 etc etc

http://www.youtube.com/watch?v=-ZxHAZChcYU

Here's the plan... Start selling satoshis on exchanges for dollars. Everybody, take a minuite, get on mtgox and lose some bitcoins for dollars. Pass it along.
Will this plan work if you think its a good enough idea to tell other traders about?
How do forex exchange rates affect this grassrootsy activist price manipulation strategy?
Can we kill the dollar right now?

lets do it  :D

Many traders out there are also trading for a thrill in their life, beside financial gain of course. Many people that I know can't hold. For them this is pointless and boring. They need some kind of action and excitement all the time.

Yeah I know some of those guys too. They are insane, they are incapable of holding and need to day trade, and of course some don't take it as far as day trading, but are always buying something and trying to short it and no asset stays on their portfolio for longer than 1 week..

Buh..
1:1 ratio would not be good.. because btc is only a virtual thing and it's mask on usd..
well i know people are starting to put their coins up for exorbitant prices on exchanges  so when the number of sellers dry up they will be collecting a windfall from people that will pay any price for some coin

your sell orders will be behind these people