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Title: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: LinkinPrak on May 13, 2018, 02:58:21 AM 1. The 21 Million Protocol
There is an assumption circulating among miners and bitcoin users that the number of bitcoin around the world is limited to 21 million and is not expected to increase when it is reached. Did you know that at this point approximately 17 million Bitcoin is already on the market. And according to expert estimates, by 2022 that number will touch the number 19 million Bitcoin. In my imagination, the limits of the numbers and the degree of difficulty facing miners can be regarded as one of Bitcoin's fundamental ornaments. 2. Request and Offer When it comes to stocks, the law of demand and supply becomes a technical measuring tool embodied in the form of charts. Of course it also applies when we are trading bitcoin, but let's look at it from a different side. Ngomongin about the demand, it turns out the increasing number of years. Even when Bitcoin was born, eBay and Paypal had agreed to use Bitcoin in 2009. From my point of view, the two giants see the potential for Bitcoin to grow. A fundamental assumption! Another story about the offer, let's imagine as an individual who is holding bitcoin. I want to ask, "Are you rushing to use bitcoin for financial transactions?" "Are you reluctant to linger with bitcoin?" In the end, people will tend to think of this bitcoin as gold. More want to be saved than transacted, but still there are transactions because some merchants only want to accept bitcoin. Again in my view, the individual's attitude will keep the bitcoin exchange rate from collapsing in no time. Although there is a time dropped dramatically, and it is very dependent on rumors circulating in the market as when the news appeared closing Bitcoin Exchange in China a month ago. Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: Xester on May 13, 2018, 11:39:14 AM 1. The 21 Million Protocol There is an assumption circulating among miners and bitcoin users that the number of bitcoin around the world is limited to 21 million and is not expected to increase when it is reached. Did you know that at this point approximately 13.25 million Bitcoin is already on the market. And according to expert estimates, by 2022 that number will touch the number 19 million Bitcoin. In my imagination, the limits of the numbers and the degree of difficulty facing miners can be regarded as one of Bitcoin's fundamental ornaments. 2. Request and Offer When it comes to stocks, the law of demand and supply becomes a technical measuring tool embodied in the form of charts. Of course it also applies when we are trading bitcoin, but let's look at it from a different side. Ngomongin about the demand, it turns out the increasing number of years. Even when Bitcoin was born, eBay and Paypal had agreed to use Bitcoin in 2009. From my point of view, the two giants see the potential for Bitcoin to grow. A fundamental assumption! Another story about the offer, let's imagine as an individual who is holding bitcoin. I want to ask, "Are you rushing to use bitcoin for financial transactions?" "Are you reluctant to linger with bitcoin?" In the end, people will tend to think of this bitcoin as gold. More want to be saved than transacted, but still there are transactions because some merchants only want to accept bitcoin. Again in my view, the individual's attitude will keep the bitcoin exchange rate from collapsing in no time. Although there is a time dropped dramatically, and it is very dependent on rumors circulating in the market as when the news appeared closing Bitcoin Exchange in China a month ago. Your post was good but there are some flaws about the number of bitcoin circulating on the market. You have mentioned that as of this time the total circulating number of coins is just 13.25 million bitcoins. This is not the correct figure since just recently a few weeks ago we have already reached 17 million bitcoin mined. So I guess you need to correct the number. Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: franky1 on May 13, 2018, 11:59:42 AM flaws
also the coins circulating are not all on the market. check out an exchanges depth chart there are only a few hundred coins played on the market, not millions most people are hoarding ebay/paypal made no agreement to use bitcoin in 2009.. there was som rumours and discussions a couple years ago but nothing as far back as 2009 Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: renes on May 13, 2018, 12:21:54 PM flaws also the coins circulating are not all on the market. check out an exchanges depth chart there are only a few hundred coins played on the market, not millions most people are hoarding ebay/paypal made no agreement to use bitcoin in 2009.. there was som rumours and discussions a couple years ago but nothing as far back as 2009 I agree with you, also lots of coins are lost and there are many not in circulation. It would be better if all mt gox coins were lost completely. Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: kaya11 on May 13, 2018, 12:26:33 PM 1. The 21 Million Protocol There is an assumption circulating among miners and bitcoin users that the number of bitcoin around the world is limited to 21 million and is not expected to increase when it is reached. Did you know that at this point approximately 13.25 million Bitcoin is already on the market. And according to expert estimates, by 2022 that number will touch the number 19 million Bitcoin. In my imagination, the limits of the numbers and the degree of difficulty facing miners can be regarded as one of Bitcoin's fundamental ornaments. 2. Request and Offer When it comes to stocks, the law of demand and supply becomes a technical measuring tool embodied in the form of charts. Of course it also applies when we are trading bitcoin, but let's look at it from a different side. Ngomongin about the demand, it turns out the increasing number of years. Even when Bitcoin was born, eBay and Paypal had agreed to use Bitcoin in 2009. From my point of view, the two giants see the potential for Bitcoin to grow. A fundamental assumption! Another story about the offer, let's imagine as an individual who is holding bitcoin. I want to ask, "Are you rushing to use bitcoin for financial transactions?" "Are you reluctant to linger with bitcoin?" In the end, people will tend to think of this bitcoin as gold. More want to be saved than transacted, but still there are transactions because some merchants only want to accept bitcoin. Again in my view, the individual's attitude will keep the bitcoin exchange rate from collapsing in no time. Although there is a time dropped dramatically, and it is very dependent on rumors circulating in the market as when the news appeared closing Bitcoin Exchange in China a month ago. Your post was good but there are some flaws about the number of bitcoin circulating on the market. You have mentioned that as of this time the total circulating number of coins is just 13.25 million bitcoins. This is not the correct figure since just recently a few weeks ago we have already reached 17 million bitcoin mined. So I guess you need to correct the number. So there are already 17 million this right of time, I was not aware of that much. There are 4 millions to go then what will happen when it reach 21 million- will there be any surprise waiting for us at the end? Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: LinkinPrak on May 13, 2018, 12:55:34 PM 1. The 21 Million Protocol There is an assumption circulating among miners and bitcoin users that the number of bitcoin around the world is limited to 21 million and is not expected to increase when it is reached. Did you know that at this point approximately 13.25 million Bitcoin is already on the market. And according to expert estimates, by 2022 that number will touch the number 19 million Bitcoin. In my imagination, the limits of the numbers and the degree of difficulty facing miners can be regarded as one of Bitcoin's fundamental ornaments. 2. Request and Offer When it comes to stocks, the law of demand and supply becomes a technical measuring tool embodied in the form of charts. Of course it also applies when we are trading bitcoin, but let's look at it from a different side. Ngomongin about the demand, it turns out the increasing number of years. Even when Bitcoin was born, eBay and Paypal had agreed to use Bitcoin in 2009. From my point of view, the two giants see the potential for Bitcoin to grow. A fundamental assumption! Another story about the offer, let's imagine as an individual who is holding bitcoin. I want to ask, "Are you rushing to use bitcoin for financial transactions?" "Are you reluctant to linger with bitcoin?" In the end, people will tend to think of this bitcoin as gold. More want to be saved than transacted, but still there are transactions because some merchants only want to accept bitcoin. Again in my view, the individual's attitude will keep the bitcoin exchange rate from collapsing in no time. Although there is a time dropped dramatically, and it is very dependent on rumors circulating in the market as when the news appeared closing Bitcoin Exchange in China a month ago. Your post was good but there are some flaws about the number of bitcoin circulating on the market. You have mentioned that as of this time the total circulating number of coins is just 13.25 million bitcoins. This is not the correct figure since just recently a few weeks ago we have already reached 17 million bitcoin mined. So I guess you need to correct the number. Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: tunapa on May 13, 2018, 01:27:14 PM Everyday bitcoin is gaining popularity and many individuals and institutions are investing in it daily. With the believe that very soon it will be accepted generally as means of payment. There is no rush to this because its what will happen with time. But before then its price will continue to increase , so investors are holding what they have till it Worth's a lot more than one can imagine. Thus there will scarcity and price will increase.
Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: yojodojo21 on May 13, 2018, 01:36:11 PM Trying to earn merits in a nice way :D nice information indeed.
I don't care how many millions will be dispensed because its already 17 million and remaining 4 million will also be the remaining circulation of dispense if i am not wrong so in other words time will come that bitcoin will cost around 50-100k$. And of course it will really take time. HOWEVER, where is the link to the original statement? Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: BrewMaster on May 13, 2018, 02:53:55 PM There is an assumption circulating among miners and bitcoin users that the number of bitcoin around the world is limited to 21 million and is not expected to increase when it is reached. this is not an assumption, this is the design. bitcoin was designed from day 1 to have no more than 21 million coins.Quote And according to expert estimates, by 2022 that number will touch the number 19 million Bitcoin. again this is also not an estimation it is the design. everything is clear about how many coins will be created and the estimation part is with a couple of days more or less only because finding blocks is not based on a fixed time interval.Quote Even when Bitcoin was born, eBay and Paypal had agreed to use Bitcoin in 2009. maybe you live in a parallel universe but this never happened!Quote In the end, people will tend to think of this bitcoin as gold. you are making an assumption here. not everyone is the same. some will always see bitcoin as an investment or worst as a get-rich-quick thing! but it is not everyone.also the coins circulating are not all on the market. check out an exchanges depth chart there are only a few hundred coins played on the market, not millions although you are right but you are exaggerating it. the number of coins shown on order books doesn't necessarily show the circulating supply either. because first of all one exchange is not the whole world. there are many exchanges in different countries and there are lots of off-the-market places where people trade and their coins never show up anywhere in stats.most people are hoarding additionally people don't trust exchanges enough to leave their coins in an open order on an exchange which is one of the reasons for the thin orderbooks and high volatility. but when price is moving they make a deposit and sell which is the reason for the higher number of transactions (a bigger backlog and higher fees) during big price movements. Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: dE_logics on May 13, 2018, 04:55:05 PM 1. The 21 Million Protocol There is an assumption circulating among miners and bitcoin users that the number of bitcoin around the world is limited to 21 million and is not expected to increase when it is reached. Did you know that at this point approximately 13.25 million Bitcoin is already on the market. And according to expert estimates, by 2022 that number will touch the number 19 million Bitcoin. In my imagination, the limits of the numbers and the degree of difficulty facing miners can be regarded as one of Bitcoin's fundamental ornaments. 2. Request and Offer When it comes to stocks, the law of demand and supply becomes a technical measuring tool embodied in the form of charts. Of course it also applies when we are trading bitcoin, but let's look at it from a different side. Ngomongin about the demand, it turns out the increasing number of years. Even when Bitcoin was born, eBay and Paypal had agreed to use Bitcoin in 2009. From my point of view, the two giants see the potential for Bitcoin to grow. A fundamental assumption! Another story about the offer, let's imagine as an individual who is holding bitcoin. I want to ask, "Are you rushing to use bitcoin for financial transactions?" "Are you reluctant to linger with bitcoin?" In the end, people will tend to think of this bitcoin as gold. More want to be saved than transacted, but still there are transactions because some merchants only want to accept bitcoin. Again in my view, the individual's attitude will keep the bitcoin exchange rate from collapsing in no time. Although there is a time dropped dramatically, and it is very dependent on rumors circulating in the market as when the news appeared closing Bitcoin Exchange in China a month ago. Your post was good but there are some flaws about the number of bitcoin circulating on the market. You have mentioned that as of this time the total circulating number of coins is just 13.25 million bitcoins. This is not the correct figure since just recently a few weeks ago we have already reached 17 million bitcoin mined. So I guess you need to correct the number. So there are already 17 million this right of time, I was not aware of that much. There are 4 millions to go then what will happen when it reach 21 million- will there be any surprise waiting for us at the end? Maybe the real Satoshi Nakamoto will show up and reveal the next 21 million bitcoins. Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: goldminecrypto on May 15, 2018, 01:24:32 AM It's true that with the passing time BTC bitcoins BTC are getting linited. This indicates that they are going to be exoensive too. Let's see what happens.
Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: pooya87 on May 15, 2018, 02:10:07 AM ~ Maybe the real Satoshi Nakamoto will show up and reveal the next 21 million bitcoins. what are you talking about? do you know how bitcoin works? bitcoin is a decentralized system. nobody (no matter who they are) can just show up, press a button and change a consensus rule (the max supply is one). bitcoin is not like centralized altcoins like ETH where the developer makes a change and everyone has to follow it whether they like it or not. Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: kevinpeck on May 15, 2018, 02:14:50 AM I appreciate your efforts that you wrote the post for all but unfortunately has got many mistakes in some figures. I would request you to repost it after correcting the mistakes. :o :o
Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: jamesbtcearn on May 15, 2018, 05:26:40 AM Bitcoin is earning popularity day by day. Many firms are coming and investing in the bitcoin. Circulation limit cannot pose such high problems as are expecting here. The institutional investors would not invest if that were a problem. Since many investors are coming so bitcoin price will rise up as there will bw scarcity of this bitcoin. Moreover it will take a long journey for bitcoin to reach that limit.So there is nothing to worry regarding this. Invest in bitcoin and earn money.
Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: farhiamunni on May 15, 2018, 11:13:43 AM A good post indeed. I got to learn different things and the examples were vey useful. Actually, i was a bit confused about the trading process. Now, i've cleared myself. Newbies also will get to know about different things about bitcoin.
Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: leoliln45 on May 15, 2018, 02:35:54 PM may be all of us aware of these besics, but new trades will find it helpful, and there is no alternative for them to learn the game properly. we need more and more people to be involved in crypto comunity.
Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: cryptoroi on May 15, 2018, 04:39:59 PM Good write up. But there are some points to be corrected as @Xester told earlier. Other than I agree with you for learning points of crypto.
Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: joebrook on May 15, 2018, 05:10:34 PM Good write up. But there are some points to be corrected as @Xester told earlier. Other than I agree with you for learning points of crypto. I am actually eager to know what will happen once all the bitcoins in the world have been mined. I am sure they miners are all going to start mining other cryptocoins.Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: jonalva on May 15, 2018, 06:23:49 PM Bitcoin is getting popular day by day and the number of coins in the market is approximately 17 million coins are already mined. The few are left. I don’t know what will happen next after all this coins are over. But I hope that after the coins are over we will see some new magic’s in the market.
Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: franky1 on May 15, 2018, 06:52:50 PM also the coins circulating are not all on the market. check out an exchanges depth chart there are only a few hundred coins played on the market, not millions although you are right but you are exaggerating it. the number of coins shown on order books doesn't necessarily show the circulating supply either. because first of all one exchange is not the whole world. there are many exchanges in different countries and there are lots of off-the-market places where people trade and their coins never show up anywhere in stats.most people are hoarding additionally people don't trust exchanges enough to leave their coins in an open order on an exchange which is one of the reasons for the thin orderbooks and high volatility. but when price is moving they make a deposit and sell which is the reason for the higher number of transactions (a bigger backlog and higher fees) during big price movements. the exchanges only play with a couple hundred coins (not 17mill) so adding up all the public exchanges is only a few thousand coins in "public market". as for the private OTC. well no one knows the extent of that statistically. but knowing over the last few months only under 2mill coins move a day and this can be due to the same few hundred thousand coins moving more then once a day to be double-quadrupple+ counted.. take for instance january 2016. output movements were 45mill coins in a day. which was the highest movement ever made. but knowing at the time there was only 16mill coins. that means the SAME coins were moved multiple times in the same day, so even at todays sub 2mill daily movements. its going to be far less than 2mill individual coins actually moved a day so far far less then 1mill coins are moving. and out of those moving not all of them are for OTC trading. but for retail spending. so my point still remains its not 17mill coins on markets but a much much lower number, much below 1 mill that are part of the "request and offer" conversation of public/private markets Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: cellard on May 15, 2018, 07:00:51 PM Anyone with enough money to move markets will be trading OTC and not under NSA-monitored exchanges like Coinbase, (and pretty much any exchange) so that's pretty obvious. The big sums never touch any of the these places so it's not known.
As franky1 said the actual amount of coins moving is extremely small, which further proves: 1) Bitcoin is used mostly as a store of value against inflation and co, so these people barely ever transact (yes, this is as legit of an use as transacting daily) 2) Given 1), these people don't care about "scaling" or at least don't have an urgent sense of doing so (unlike Gavin et al) and will reject anything that could add uncertainty to the market, such as a hardfork. 3) Given 1), any fork (such as BCH) is under a massive bear pressure at all times, given that the majority of people haven't bothered yet to dump it (and by 1)'s definition, their incentive is to do so). Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: Ucy on May 15, 2018, 07:25:00 PM Bitcoin is getting popular day by day and the number of coins in the market is approximately 17 million coins are already mined. The few are left. I don’t know what will happen next after all this coins are over. But I hope that after the coins are over we will see some new magic’s in the market. This is the most interesting thing about placing a limit on Bitcoin. It is probably one of the reasons of having a deflationary Bitcoin. Unfortunately our emotions won't let us to see things clearly. I think the idea is that Bitcoin continues going up as it gets scarce so that there is enough to serve the demands and when the limit is eventually reached? If Bitcoin is corruptly (without consensus) stabilized at $10,000 how do you get more Bitcoin to buy if for example every Bitcoin owner is saving/holding? Bitcoin is never going to be stable. Stabilization of scarce and valuable commodity is very artificial (introduce by man) and unsustainable. It's either no limit is placed (like ethereum) and price is kept stable OR a limit is placed with the deflation (like Bitcoin). Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: incomefromcoins on May 15, 2018, 07:56:48 PM It is always better to learn about the Bitcoin fundamentals and its journey from its intial coin onwards. Bitcoin started in which year and why it has grown this much and which technology used to secure its data , how people considered as one of the crypto currency . Many factors are there why bitcoin is top in all crypto world. Currently bitcoin is trending in the world and its widely accepted in transactions like money.
Title: Re: Bitcoin Fundamental Secrets, and You're Worth Knowing! Post by: zinson01 on May 16, 2018, 01:10:35 PM I think it helps the bitcoin investors. If they know everything about bitcoin and then they invest on bitcoin they get a positive result and it will helps them in future also.
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