Once there are only 1M btc left to be minted and it's near impossible to mine them, the price will rise.
but that would make mining obsolete aswell (according to the logic of the proponents of high inflation for the sake of network security) You can not have high inflation and a high price for it at the same time - shouldn't be hard to understand. Mining will someday be obsolete, people will process transactions for fees and bitcoin will have hit full maturity. Bitcoin value can then only go up. About high price and inflation: " In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.[1] When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy.[2][3] A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index (normally the consumer price index) over time.[4] " -- wikipedia -- This means bitcoin will deflate since the pricelevel for goods goes down and your buying capabilities increase. BTC1 will now buy you an iphone BTC1 will then buy you an house Let me help with a few details: Mining will never be obsolete, it is what makes the Bitcoin network go and secures it. You're conflating (ugh, retarded word, but Bitcoiners love it!) price inflation with monetary base inflation. Bitcoin's yearly monetary base inflation (what the local libers refer to as "making money out of thin air") is over 10%, YTD. Bitcoin's yearly price inflation is ~65%, YTD. No need to thank me, my pleasure  |
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the REALLY big deal for Bitcoin in the past several months has been the tx volume increase. prior to that, there was a real question regarding widespread adoption. this increase bodes well for Bitcoins future. it cannot be interpreted in any other way.
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So, explain why 120%-150% APY is preferable to 3%-5%?
The returns you're offering at 10%-15% as monthly dividends is in-line with loan sharks and cash advance companies.
I suspect his motivations are similar to yours  |
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Earthlings can't comprehend scale. When Bitcoin's price was a fraction of a cent, a tenfold increase meant one d00d decided to buy a pizza. Now that the price has climbed by several orders of magnitude, x10 increase is several orders of magnitude less likely.  ~Your Beneficent Reptilian Overlords. |
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.@fake fonzie: Shhh, no tears. Only dreams now.  |
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Shocking that this amount of BTC is stolen.
Keep talking, filthy Bitcoiner, our drones are on the way   |
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I am very troubled by the seemingly unfounded, unsensical and summary treatment of Otto. If the intention is to give the impression that the rule-of-law does not hold in Estonia, it has been given... Time to dredge that moat and boil some tar, buddy... |
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If you got money in abundance and a steady income job, it's safer to HODL.
If by "safer" you mean losing ~65% of your "investment" in a year... |
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... Go buy USD, billions of dollars have been flowing into the market every month... ...
Investing in the glorious US Dollar has served me rather well this year   |
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Getting a little cold, Bitcoiners?  Why continue to struggle? You can not win this war of attrition! |
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You're doin' great, LFC_Bitcoin  |
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Said another way, the reason why the market price is not more than 375$ now is because everybody who has money to spare, including Tim, now thinks that bitcoin is worth less than 376$. So, if no one with money wants to buy 1000 BTC from the exchanges for more than 375$, why would they want to bid for them at the auction for more than 375$ ?
it's Bitcoiners' ability to ignore such basic and irrefutable facts that makes them so endearing |
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The most interesting part is to go down for the first time in last 2 years. Maybe it's a sign of mass mining strike, it's a message to Bitcoinworld we don't know now. It's true that mining is not cost-effective these days, maybe miners ara waiting for lowest difficulty levels to start again.
Could be union agitators...  |
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Good morning gentlemen! Though Stalingrad didn't turn out like you planned, it's never too late to give up on your dreams. Come on out, we have milk and cookies!  ...
Sure is a lot of nonsense here these days
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Equality? As far as I know there is no such thing as equality. If we live in a perfectly 'equal' world, hell we might not even be around and survive.
Why not? I would like to paraphrase a quote in a different context "It is through competition that the human race evolves" Sure, and... "It is through cooperation that the human race evolves" "It is through mutation that the human race evolves" "It is through adaptation that the human race evolves" "It is through time that the human race evolves" You're right though, competition is a part of it. But when a heavyweight boxer and a 3-year-old girl are competing, it's better described as "slaughter." Though the loli has a better chance against the boxer than some poor, uneducated piece of trailer trash has competing against a rich ivy league d00d. You compete for everything... to the winner goes the spoils. You can't say that a perfectly equal world is good.
You mean a world without economic inequality? It's not realistic, but certainly something to shoot for. But we aren't talking about "a perfectly equal world" here. Just a world where inequality is a few orders of magnitude lower. |
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Only 12 here ... I got USA wrong lol - I am proud of that !
Got all of them wrong--I am proud of that because fuck artificial borders & statists! And who cares what those irrelevant backwater foregnies are called anyhow? Ain't nobody got time for that.  |
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We will see double digits this year, and no rally until at least the march 2016 reward halving. BTC is way overmined at the moment, and most of the core supporters (who also happened to be miners), jumped shipped last spring when ASICs came out, and Bitcoin mining became centralized. There's going to be the ongoing saga of the SR1 bust, and new saga of SR2 bust - plus the next ten iterations of whatever drug market people are using these days. TOR is already cracked, these are easy arrests for them to make.
To be honest, the only aspect of Bitcoin I see actually succeeding is the blockchain.
I will take that bet and put up 2 bitcoins to your 1 that we don't see double digits before the end of 2014. Lets setup the escrow and get this going, smart guy! As a side-bet, lets have the loser get a permaban from bitcointalk. <inbeforecrickets> Did he challenge you to a bet? You realize that only an idiot would take your 2:1 bet. If Bitcoin goes to double digits, your two BTC will be worth < $200. His one BTC is worth $376 now. He would lose a minimum of $76 by winning your bet, $376 by losing it. TL;DR: You can't math, and sound like you need a hug. I take the bet for 10:1 payout. Plus the right of saying that the loser made the worst prevision ever and should put his head in the toiled and flush for at least 1 hour. Don't care if he challenged me, because now I challenge him. So you got angry because a d00d from the internet had an opinion didn't match yours? Or is it because you're grossly overinvested in BTCeanie BTCabies Bitcoin, are rude, and can't math?* *You also can't English, but that could be due to your being from some God-forsaken backwater foregny. |
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Is everyone ready for 5 o'clock?  |
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We will see double digits this year, and no rally until at least the march 2016 reward halving. BTC is way overmined at the moment, and most of the core supporters (who also happened to be miners), jumped shipped last spring when ASICs came out, and Bitcoin mining became centralized. There's going to be the ongoing saga of the SR1 bust, and new saga of SR2 bust - plus the next ten iterations of whatever drug market people are using these days. TOR is already cracked, these are easy arrests for them to make.
To be honest, the only aspect of Bitcoin I see actually succeeding is the blockchain.
I will take that bet and put up 2 bitcoins to your 1 that we don't see double digits before the end of 2014. Lets setup the escrow and get this going, smart guy! As a side-bet, lets have the loser get a permaban from bitcointalk. <inbeforecrickets> Did he challenge you to a bet? You realize that only an idiot would take your 2:1 bet. If Bitcoin goes to double digits, your two BTC will be worth < $200. His one BTC is worth $376 now. He would lose a minimum of $76 by winning your bet, $376 by losing it. TL;DR: You can't math, and sound like you need a hug. |
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Confirmed, 2014 is definitely the year of the FUD (oh, and the start of building the actual infrastructure around and on top of Bitcoin. This really has been the year of Bitcoin, if you for one second stop staring at the short term price chart).
>year of bitcoin >price falls by 65% What would a bad year feel like  |
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