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The buyers for all of these coins have seemed to go on vacation or something.
I feel like people may be waiting for the price to settle down.
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1 point for fiat. 0 points for BTC.
That's alright, I'm sure the fiat team will do something soon to even the score!
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I gave 10 bitcoins to family members for christmas in 2012. I believe the value was around 13 dollars for each at the time. I purchased some blank 1btc cassious (sp?) and loaded each coin and put each into a decorated box. Just 1 year later, that 13 dollar gift turned into a 1k dollar gift. most of them cashed them, but a couple are holding on to them. Since I did that, a few of them have become avid bitcoiners.
Ill never forget explaining to them on christmas day about bitcoin, told them how its went from under a dollar to 13 in just a year or so. Who knew it would explode the way it did. I wonder if Ill get 10k worth of christmas presents from them? I doubt it, lol....
What a great way to get someone into BTC. I think, however, that it was easier to do this when a BTC was each worth about $13. Now, at almost $600 it becomes a more serious or more ridiculous proposition. It's all psychological but it feels like more of a commitment. Maybe I need to do some dollar cost averaging and get myself away from the current price anchor. Another thing that worries me is that there is so much positive belief about how the price will "definitely" go up, but there's very (VERY) little explanation for these beliefs that are rooted in logic, analysis, math, economics, etc. I need more logical proof of price stability or growth before I can begin talking about it more openly with friends and family. |
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What makes you think Bitcoin use hasn't taken off in Colorado?
The best part about BTC is the anonymity and it would be difficult for anyone to determine adoption by state without an audit or count of retailers accepting it as payment and sharing their sales/transaction volume with the community.
I think the pot business in CO would be perfect for BTC but of course there are companies focused on providing financial services specifically to the medical and recreational pot industries...so maybe the real driver of BTC use out there is through these clearing house type transaction firms.
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We cannot/do not want to get to $500,000 per BTC any time soon. Here is the math behind it: https://bitcointalk.org/index.php?topic=694401.0If BTC were to go to $500,00 in this era it would cause a catastrophic mining bubble: $500,000 x 25 = $12,500,000 per block = $75,000,000 per hour $75 million per hour would drive the mining to attempt to use 675 GW. This is about 30% of all the power generated on the planet. So, in order to keep our power consumption under about 2% of world wide power production, we cannot/do not want the price to get to $500,000 before era 6, which is about 2033 or so. Using my previously derived formula for the power consumption: P = (6(50/2 e) + f)(x)(1 - g)/c [kW] where: x = exchange rate [USD/BTC] e = era [0..32] (we are currently in era 1) f = average fees per hour [BTC/hour] c = cost of energy [USD/kWh] g = average gross profit margin [unitless ratio] we can look at the power consumption in each era assuming a price of $500,000 per BTC. In order to make it simple I will make the following assumptions: x = $500,000 per BTC f = fees per hour will keep the coinbase above 6 BTC/hour (1 BTC/block) in all eras c = $0.10 per kWh g = 0.1 miner gross profit margin Original target Subsidy Est Fees Power % of total world
Era starting year BTC/block BTC/hour GW power production
--- --------------- ----------- ---------- ----- ----------------
0 2009 50.00000000 0.00000000 1,350 58.41%
1 2013 25.00000000 0.00000000 675 29.20%
2 2017 12.50000000 0.00000000 337 14.60%
3 2021 6.25000000 0.00000000 169 7.30%
4 2025 3.12500000 0.00000000 84 3.65%
5 2029 1.56250000 0.00000000 42 1.83%
6 2033 0.78125000 1.31250000 27 1.17%
7 2037 0.39062500 3.65625000 27 1.17%
8 2041 0.19531250 4.82812500 27 1.17%
9 2045 0.09765625 5.41406250 27 1.17%
How does increased prices of BTC per USD increase the amount of power required to mine? The amount of effort required to mine isn't based on price but rather the amount of blocks that have been mined alredy...the price is meaningless. Or, what am I missing? Thanks. |
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For $5,000 to happen you need ONLY 0.1% acceptance of world population for Bitcoin. We are at 0.01% now. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - The original poster of this was not me. Full credit goes to this guy "domainbrokers". I liked his post so much that I wanted to share it. Where's the math or logic that makes this statement true? Price isn't purely based on supply, it has to also be based on demand. And if supply increases and demand doesn't increase with it prices are not going to grow as quickly as you suspect. I love the sentiment but I don't see any math her to prove your assumptions...it's still just your hunch, guess, hope. |
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Quick questions:
1) You mention that Junior Members are not eligible BUT that one only needs activity of 50+ to enroll. Can a Junior Member enroll after they've exceeded activity of 50 (and before they reach Member status)?
2) How does one re-enroll every month? Is it automatic or does someone have to re-post their enrollment?
3) Who is responsible for counting the posts month over month - you/the Payer or the enrollee/poster? If it's the latter, how should it be done.
I'm not eligible for this campaign but I feel these questions may help others.
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How about month that have only 29 or 28 days?
Every month has 28 days, sucker! Ha, ha |
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trust me you need to post a grip to get any btc around on this forum.
And thats if those posts are approved, which most dont go through since its counted as spam.
That's true most have to be constructive. which is very hard to meet the minimum amount for that month. It's only a little bit of Bitcoin but anything is better than nothing really. So is there an easy to know threshold of what's considered spam vs. constructive? Would this question/post be considered spam even though I'm asking a genuine question? There is nothing set in stone. Most campaign managers reserve the right to make their own decisions regarding this, so when in doubt, do not pad your post count. Some are explicit; my campaign, for instance, urges members to make 3+ sentences per post to be considered constructive. A lot of people agree that it needs to be on topic and adding to discussion to be considered constructive I often have to reduce non constructive posts of mine from the total. So you're counting your posts for Primedice? They don't do it for you? I'm awaiting my first payment from 777 and still new to how the tracking of the post counts work. For example, I had 100 posts in the first week but wasn't clear on when the count rolls over again. |
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Trying to use the past to predict the future of a volatile commodity like bitcoin is an exercise in futility. You sure about that? The pattern seems easily recognizable to me.  FYI I dumped my life savings in the middle between the two red boxes. No regrets. That IS a sexy chart! I would date that chart... But, remember that past performance is not indicative of future results. Sounds like you, personally, are doing quite well with it... |
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The biggest problem/hurdle for mass adoption of BTC is new user's having to exchange fiat for it. That transaction anchors them in an exchange rate cost and if the value of BTC (to USD for example) goes down they may feel they've lost money and sell the BTC they purchased.
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Trying to stop btc at this point is like you know standing in front of the ocean thinking your urine stream is gonna influence the tide or depth of the ocean
BTC is entrenched as the first legitimate digital currency unit
As mentioned above, just 10% acceptance means 8.5 Trillion of GWP on btc network
That's 500K btc in basic math
We don't need 100% acceptance
Just .1% of gwp the next bubble is 5K btc
1% of gwp is 50K btc
So a btc millionaire is positioned to become a btc billionaire
All the big tech players moving into btc shows it's REAL
What is "GWP"? And to another poster, are there really 1000's of retailers doing business in BTC? If so, the next step is for those retailers to advertise their acceptance of BTC better...I'm aware of much less than a hundred retailers accepting BTC for payment. |
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What coins do you think are better?
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everyone has their own tipping point.
my tipping point of when i realised bitcoin is going to last a long time and is growing in adoption was in 2012. those people from 2009 probably had their tipping point to realise bitcoin will be huge was probably 2011
and as the OP says his tipping point of revelation was a year after he got into it.
there are more tipping points every day. there is no single tipping point. just an increase of tipping points. and the more we see of these 'revelations' that people have that they finally see that bitcoin is going to grow, the faster it will grow.
Well the "tipping point" is a formal term for when a new technology or idea is adopted by the masses or reaches a level of adoption that the acceptance of that technology or idea cannot be reversed. So, it's not about one person it's about the entire community. When is there enough collective momentum to push the idea forward such that it cannot fade away? You're right that a lot of positive moments contribute to that momentum and the (singular) tipping point is only one that can be truly known in retrospect, after it's happened, after the history of events can be analyzed. It's a very exciting time, for sure...no one on this forum will argue that! |
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We've seen nothing yet, man! People still don't know what I'm talking about when I mention Bitcoin and tell them that I am a BitcoinMillionaire. They think it is some kind of Habbo Dollars or something, haha. But I rather not tell them how much they are really worth, or they'd be just begging for money. I don't want that. People don't need to know, I'm a stinkin richt BitcoinMillionaire! Don't wanna brag about that.
Smart move. Stealth wealth is the way to be, especially as people protest about minimum wage workers making minimum wages. If you start bragging about that stuff you'll just make yourself a target. Congrats on your success! I wish I could say the same thing, but I've gotten involved much later than a lot of you (and yet much sooner than many others...) |
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Inflation is not the same as value.
It seems like a lot of people are interpreting the rise in BTC inflation as a rise in price or value and therefore an indicator of holding BTC as a long term investment. Inflation means that BTC will be come less valuable as the monetary base increases.
Am I missing something here?
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Can you share a link or post images to the shirts? I'd like to take a look (and maybe I'm just not familiar with your site yet).
How much are the shirts?
Thanks
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That Australian Kangaroo has a brilliant color to it.
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Pretty cheap imo. I've seen the 0.1 BTC coins sell for a lot more. Good luck selling!
Last ones I've seen, sold for that price :/ Dude, read between the lines, he's trying to help you out! I've seen these sell for more than BTC0.70 too, so anyone that's contemplating the purchase better lock it in quick. I could see this coin getting bid up quickly AND it's a gorgeous coin. The silver is just amazing. Good luck with the sale! |
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Great looking coins.
I can't help but say that there's no "a" in collectible and the collectors package you put together is a great complement to (as in "it completes") the original coins you offered. My first statement about your coins is a compliment.
Good luck with your sale.
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