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1121
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Economy / Economics / Re: Demand / Production imbalance
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on: June 04, 2011, 01:43:39 PM
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AMD did not plan their production capacity with BTC mining activities in their mind. But nonetheless they've clearly planned to sell all their production to their identified market. So if scalability is slow there can be a supply shortage of cards even if the unexpected sudden increase in demand is just a few %.
Another factor may be dealer's stockpiling - no one wants to have more cards in stock than can be expected (from prior experience) to be sold in a given timespan.
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1122
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Economy / Economics / Re: we just hit 10 USD
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on: June 04, 2011, 01:28:06 PM
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There seems to be a lot of hope that Bitcoin could be a serious currency in the future. Even though the price action is explosive the Bitcoin story is just starting to get mass recognition.
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1124
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Economy / Economics / Re: What to do if Bitcoin's value explodes!
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on: June 04, 2011, 12:53:26 PM
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The current speed of "value growth" is really breathtaking...  Any purchase of something of high value (real estate or some loads of P.M.) would be good for BTC in the midterm, because it could have a large psychological effect regarding the belief that there is some real value behind BTC (which is essential for the success of any kind of currency). |
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1125
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Economy / Marketplace / Re: BTCdeals.com
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on: June 02, 2011, 11:39:58 AM
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A nice site, however wouldn't it be better to inject BTC payments into existing auction sites?
I mean for the success of Bitcoins it needs to reach the masses. While it's cool for someone to build a business based on BTC, this remains a tiny niche in the market.
I think the overall success of Bitcoins will require more businesses to work on top of ot in conjunction with the Bitcoin currency. Aution sites make sense in this scheme, but it will require actual retailers and other business models to work with as well to show proof of concept to other businesses that they can succeed while changing from a fiat currency. Currently the niche of the market is the fact that sites are accepting Bitcoins - and in our best interests (whether as long term investments or get quick rich speculators) to make sure that the exposure to Bitcoins is as large as possible - so expanding to all niches is a good thing (especially if it's on the "legal" side of business practices - not that I disagree with other sites - but it's a different type of exposure that Bitcoins need). Yes that's right. I just wanted to point out that this alone does not suffice. |
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1126
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Economy / Marketplace / Re: Ebay!
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on: June 02, 2011, 11:23:58 AM
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For someone just starting with Bitcoin, eBay is an easy -- and safe -- first step. I'll buy again on eBay for those benefits.
There was a time, when one could at least believe the above to be true. But from my point of view this is long over. eSlay = PainPal = #+*%$3" |
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1127
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Economy / Economics / Re: wtf @ the current state of the bitcoin economy
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on: June 02, 2011, 11:14:04 AM
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The inherent value of a bitcoin is just the energy necessary to create it.
Don't confuse cost with value. The value of Bitcoin is as an alternate, digital currency. What I mean is the initial (subjective) value. Of course the value can change over time due to demand-supply characteristics. But no one would rationally create a Bitcoin, if he/she does attribute a lower value to it than the energy invested. |
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1128
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Economy / Economics / Re: Is it correct to call BitCoin a currency?
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on: June 02, 2011, 11:10:18 AM
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From the various definitions Bitcoin would qualify partly as a currency.
However to be a currency of significance in our society it has to be accepted by a large number of people and should ideally not be subject to prohibition by governments.
It is far from clear, if BTC will ever be a currency of significance (e.g. for paying my daily foodstuff at the supermarket).
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1131
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Economy / Trading Discussion / Re: how beatable is this market?
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on: June 02, 2011, 10:33:17 AM
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Trading is a risky business. This is true for the established markets, but it's even more true for the highly volatile Bitcoin market.
Trading is not a one-way street. The majority of traders loses money.
From my point of view you should give up the trading idea! Maybe it's better to buy and hold Bitcoins, but this also is very risky.
I would only invest money that's not needed into Bitcoins.
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1135
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Economy / Marketplace / Re: BTCdeals.com
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on: June 02, 2011, 10:07:44 AM
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A nice site, however wouldn't it be better to inject BTC payments into existing auction sites?
I mean for the success of Bitcoins it needs to reach the masses. While it's cool for someone to build a business based on BTC, this remains a tiny niche in the market.
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1137
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Economy / Economics / Re: wtf @ the current state of the bitcoin economy
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on: June 02, 2011, 09:36:34 AM
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It clearly is true that a lot of speculation is going on here. The inherent value of a bitcoin is just the energy necessary to create it. But this does not matter much, because an established currency is based on the belief, that one can readily exchange it for another value/good. If this condition is fulfilled, the value of a currency is a function of the available goods vs. available currency (units). The value of Bitcoins will increase, as long as the number of people believing in its value increases. Strange...  |
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