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There is no tax, just a distribution of coins. If 10% of new coins being emitted per year, then rougly the same amount of money will be spent mining them. The same goes for 5%, 2% of the market cap and so on. Money in, money out - no tax!
Call it "service fee" or "inflation," call it whatever you want, but ~10% of Bitcoin's market cap will be spent every year to maintain current level of security. For now inflation is footing the bill, but once block reward halves, either security will suffer, or tx fees go way up. |
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jaredboice:  |
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In the eyes of people who know what Bitcoin is, we're in the early stages. In the eyes of the world, we're in the extremely early stages lolcows...
FTFY I realize that you've bought in high and now are hoping against hope that the price will crawl back up. But the "we's early adopters" mantra has absolutely no magic in it, just stop. Early adopters mined coin with their CPUs, bought 10,000 BTC pizzas & laughed about it. You're on the speculation subforum, pimping the price as the busboy stacks chairs on tables & mops around you. Last call was hours ago, time to go home. |
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I reckon that it's possible Tim's tippled his BTC through trading since June.
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If he's as good at trading BTC as he is at buying it, my guess is he's got ~3 BTC left. |
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Today BTC/USD dropped 5%, while   |
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I don't think the sell off has much to do with bitcoin specifically.
Large declines in oil & ruble means many are having a 'Minsky Moment'.
Initial losses on oil etc over a few months has led to people having to sell elsewhere, namely from emerging markets (hence the outflows). bitcoin holdings are one of things being liquidated.
Lol, if anyone should be having a Minsky moment it's Bitcoiners Ruble up 11%/24hrs BTC down 5%/24hrs. <tinfoil> It's CITI bank. They slowly bought coins over the last year using their hoard and super millions to suppress the price. Obama is in on it too! It's a conspiracy! </tinfoil>
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I don't ignore anyone who just disagrees with me.....however, anyone who is a flat out troll gets ignored without hesitation
Nah. |
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People just wanted to believe that price was going to follow y = xxxx
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it's like July 2013 all over again
I suppose. If you feel that scaling both axes of a chart is justifiable if it makes the curves fit. I was just hinting that BTC bought = BTC sold. |
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...this market has been very bullish bearish recently. Probably the most out of 2014 in terms of btc bought sold.
FTFY |
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^
I think he means "distributed to miners." More than 10% a year, but still...
When all the coins are distributed, inflation won't pay for mining any longer--tx fees will. How well that works out without being outrageously pricey per tx remains to be seen.
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^Have you covered our shorts yet? Let's do it now, before we're found out...
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Good news everyone!
The ruble seems to be doing a bit better.
Maybe Bitcoin will follow suit?
Maybe people are selling btc to buy ruble The RUB/USD went up more than 10% in the past 24hrs, and BTC/USD went down what, over 5%? Basic math tells me it's not a bad bet  |
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^Ino, right? Just buck up & get shit over with, why drag it out? It's getting boring and painful to watch   |
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So bitcoin sucks due to inflation. Everyone knows it. Nobody wants to buy it. It has a bad image already and this forum is scammers protecting scammers basically.
So along comes ripple with some other crooks attached but the part they got right is the inflation-part.
So bitcoin done - ripple hello?
After all it should be investement vehicle and store of wealth but neither ripple nor bitcoin is that.
So what we do? Nothing?
Even CLAM has inflation  Maybe that can replace bitcoin  You know what doesn't have inflation? That's right,  |
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Good news everyone!
The ruble seems to be doing a bit better.
Maybe Bitcoin will follow suit?
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isnt it wall observer BTC/USD what we talk here??... that XRP premined coin should not be mentioned here. 100% offtopic.
Talking about price going south is both depressing and boring. Been doing it for over a year now, could use some variety in this thread. |
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^ These are actually all buying signs... short and long term... Good luck to whoever is opening shorts at these levels hoping for a break below 300  Good luck |
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... You can move out of here! Should be simple. But instead of that you and some other trolls ignored by most of us try to explain us how shitty Bitcoin is for you. Use your hidden agenda and put it where the sun is not shining.  |
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Please explain this comment.
Gold is a finite resource Bitcoin is BTCeanie BTCabies are a finite resource (21M)
Gold is mined releasing more gold flowing into the market at a known rate. Bitcoin is the same BTCeanie BTCabies supply is no longer inflating by 10-15% a year.
Golds value is arbituary and created purely by market forces. Bitcoin is BTCeanie BTCabies are the same.
If TOMORROW the whole world stopped buying Gold its value would be zero.
The only fundamental difference is gold is physical whereas BTC is digital but totally accountable. BTCeanie BTCabies are also physical. So totally same, no fundamental difference.
SO, EXACTLY why is comparing Bitcoin BTCeanie BTCabies to goldf idiotic??
FTFY |
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