|
Title: Just a small question about Bitcoin economics Post by: cooliobongo on November 29, 2013, 07:28:36 AM What determines bitcoin pricing? (ex: the current market for bitcoins is 16billions USD$. If someone were to buy coins until he spent 8billions USD$, does it means coins will be worth 50% more?)
Also is it better to buy, mine or rent a miner? Thanks :-* Title: Re: Just a small question about Bitcoin economics Post by: odolvlobo on November 29, 2013, 08:37:40 AM What determines bitcoin pricing? (ex: the current market for bitcoins is 16billions USD$. If someone were to buy coins until he spent 8billions USD$, does it means coins will be worth 50% more?) Also is it better to buy, mine or rent a miner? The price depends on supply and demand. If you can buy mining equipment for less than the number of bitcoins it will mine, then you should mine. Otherwise, you should buy. Title: Re: Just a small question about Bitcoin economics Post by: Light on November 29, 2013, 08:46:25 AM The price depends on supply and demand. If you can buy mining equipment for less than the number of bitcoins it will mine, then you should mine. Otherwise, you should buy. Spoken like a true economist. There really isn't anything but the opinion of buyers and sellers as to the price of Bitcoin which is why speculation is extremely dangerous. As far as mining goes make sure you check the difficulty as it's constantly increasing and factor that in with your estimation of the value of BTC in the future when deciding to buy a miner or to just outright purchase BTC. |