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I think that it would be a great thing if the price is that high but to be honest I do not think that it is going to happen.
Allot of users and holders would sell there Bitcoin way before the price is even close to a million.
Yeah and people will not their coins that long and I am pretty sure people will sell all their coins even if it touches to $5k and 1m price is very difficult to achieve. But it don't have to be like that. Here's My Simple Plan: 1. Create a "digital businesses" that's "cheap to build and you do not need expenses to run," which "generates on average BTC 1/day profit." 2. Multiply by 50 3. Spend none of this passive 50BTC ($33,000 US)/day income. Ever. Forget that you're making 33 grand a day. 4. Get 100 other people to do same. 5. ? ? ? 6 PROFIT. +1 Sounds very good plan IMO. Hitch number one: coming up with a "digital businesses" that's "cheap to build and you do not need expenses to run," which "generates on average BTC 1/day profit" AND could be replicated x50 without losing value. Hitch number two: if I managed to overcome hitch number one, and discovered a "digital businesses" that's "cheap to build and you do not need expenses to run," which "generates on average BTC 1/day profit" and is easily scalable, I don't care how much BTC is worth. 33 grand a day not enough for me to live on? I'll just create another 50 iterations of my free money machine. But you are trolling, correct? I refuse to believe that God, in all His wisdom, made a creature who thinks like you. |
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I think that it would be a great thing if the price is that high but to be honest I do not think that it is going to happen.
Allot of users and holders would sell there Bitcoin way before the price is even close to a million.
Yeah and people will not their coins that long and I am pretty sure people will sell all their coins even if it touches to $5k and 1m price is very difficult to achieve. But it don't have to be like that. Here's My Simple Plan: 1. Create a "digital businesses" that's "cheap to build and you do not need expenses to run," which "generates on average BTC 1/day profit." 2. Multiply by 50 3. Spend none of this passive 50BTC ($33,000 US)/day income. Ever. Forget that you're making 33 grand a day. 4. Get 100 other people to do same. 5. ? ? ? 6 PROFIT. |
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You guys feel that?!?!
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holy fuck this thing is about to explode!
It is about to explode to 777. Satan rules the world but in the end he will be defeated and price will be forever stabilizes near until the end of days God is 3 (Trinity, Scutum Fidei).   $333. Dow we go  |
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Perhaps if there are let's say 100 people starting 10-50 different digital businesses/person that accept btc as the only choice of payment it is possible, and they only accumulate coins, never sell them.
I'm gonna go ahead and assume that those bitcoin businesses sell what all bitcoin businesses sell: hopes and dreams. While the industrial moguls live in Mom's basements, eating Mom's food. Because ordinary businesses have expenses: overheads, salaries, restocking merchandise, taxes, etc., etc. Which necessitates spending. You did not understand what I meant. I talked about starting digital businesses, and sometimes they are cheap to build and you do not need expenses to run those. Running multiple web sites will not cost that much. If one site generates on average BTC 1/day profit, then multiplying it by 50 you get 50 btc profit/day - and if there are 100 such entrepreneus, they lock BTC 5000 /day to their cold storages. Eventually the price has to rise. A "digital businesses" that's "cheap to build and you do not need expenses to run," and "generates on average BTC 1/day profit"? I'm gonna go ahead and assume you mean a cut&run ponzi site? You do know that most internet gambling sites [with employees and stuff] don't generate 1 BTC($650)/day, right? Pro tip: there's no free money out there, the streets aren't really paved with gold, there's no "passive income," and there''s no free lunch. Half of the people in the world live on less than ~$2.50/day. Let that sink in. That's 260 times less than your free money machine "digital businesses" that's "cheap to build and you do not need expenses to run" makes in a day. TL;DR: you ought to get out more often, breathe some fresh air. Merchants that instadump the bitcoins will be no good for btc (except indirectly perhaps with visibility).
Merchants got to eat, feed and clothe their kids, have a place to poop & sleep, and to restock their shelves, so's they'd have something to sell. All that costs money, so they spend. Life is a bitch like that. The value of btc lies only on the holding of it, not using it as a payment token.
If BTC is not used as a currency (you know, money that's actually used to buy things), it is useless: no different than baseball cards or Beanie Babies. Internet is full of gambling sites. Try to figure out something else. Think a little bit outside of the box, and do not go to the save alternatives. Opportunities are infinite, but most people simply are like you: "It cannot be done, therefore it is better not to try". Those people end up being paid slaves for the rest of their lives, which makes their statement "there are no passive income opportunities" true to themselves like self fulfilling prophecy. I'm gonna go ahead and assume that you, being an "outside of the box" thinker, already have many free money machines "digital businesses" that are "cheap to build and you do not need expenses to run"? How many? Links? |
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Perhaps if there are let's say 100 people starting 10-50 different digital businesses/person that accept btc as the only choice of payment it is possible, and they only accumulate coins, never sell them.
I'm gonna go ahead and assume that those bitcoin businesses sell what all bitcoin businesses sell: hopes and dreams. While the industrial moguls live in Mom's basements, eating Mom's food. Because ordinary businesses have expenses: overheads, salaries, restocking merchandise, taxes, etc., etc. Which necessitates spending. You did not understand what I meant. I talked about starting digital businesses, and sometimes they are cheap to build and you do not need expenses to run those. Running multiple web sites will not cost that much. If one site generates on average BTC 1/day profit, then multiplying it by 50 you get 50 btc profit/day - and if there are 100 such entrepreneus, they lock BTC 5000 /day to their cold storages. Eventually the price has to rise. A "digital businesses" that's "cheap to build and you do not need expenses to run," and "generates on average BTC 1/day profit"? I'm gonna go ahead and assume you mean a cut&run ponzi site? You do know that most internet gambling sites [with employees and stuff] don't generate 1 BTC($650)/day, right? Pro tip: there's no free money out there, the streets aren't really paved with gold, there's no "passive income," and there''s no free lunch. Half of the people in the world live on less than ~$2.50/day. Let that sink in. That's 260 times less than your free money machine "digital businesses" that's "cheap to build and you do not need expenses to run" makes in a day. TL;DR: you ought to get out more often, breathe some fresh air. Merchants that instadump the bitcoins will be no good for btc (except indirectly perhaps with visibility).
Merchants got to eat, feed and clothe their kids, have a place to poop & sleep, and to restock their shelves, so's they'd have something to sell. All that costs money, so they spend. Life is a bitch like that. The value of btc lies only on the holding of it, not using it as a payment token.
If BTC is not used as a currency (you know, money that's actually used to buy things), it is useless: no different than baseball cards or Beanie Babies. |
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Perhaps if there are let's say 100 people starting 10-50 different digital businesses/person that accept btc as the only choice of payment it is possible, and they only accumulate coins, never sell them.
I'm gonna go ahead and assume that those bitcoin businesses sell what all bitcoin businesses sell: hopes and dreams. While the industrial moguls live in Mom's basements, eating Mom's food. Because ordinary businesses have expenses: overheads, salaries, restocking merchandise, taxes, etc., etc. Which necessitates spending. |
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An Asicminer Blade is 10GH, so 1 PH is 100,000 of these. That is a lot of hash power to mine bitcoin.
No one mined with Asicminer Blades since forever, because obsolete. Asicminer folded & ran away with people's coin a couple of years ago. The current hashrate is 1,529,415,029 GH/s or about 1,529 PH/s. 10 PH is less than 1%. |
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What is good news in this case? If news are good for bitcoin, price should go up. But it wasn't good news for bitcoin, was it?
Basically, everything that is bad for the economy is good for Bitcoin. |
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Everyone was expecting a very high price increase during the block halving period. But nothing happened, the price left hanging at the same price range. What happened, are you expectin that it will maybe rise soon?
You are wrong, the majority of people was expecting a decrease of the bitcoin value the same day of the blockw reward halving. Now I think we will stay in this range for a couple of weeks maybe months. exactly this! i was also expecting a significant dump to happen directly after the block halving. i am quite surprised there was no massive dump. so in that aspect i am very happy that the price is staying at current price levels. People would only dump if the price increased to the moon. This did not happen, so a lot of people are still holding on to their Bitcoins. I would not even think of dumping, if the price was under $1000 per Bitcoin. Even then, I would only drop a few coins just to re-coop some of my initial fiat capital and not my whole hoard. ^hmmmmm^ A common variant of the sunk costs fallacy. "I waited this long already, might as well wait a bit more. Even though the price has only one way to go: down."  |
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ATM's being emptied and reports of a bank run occurring in Italy -
O noes! That's where Third Installment of Bitcoin Scaling Event Is Set To Happen! The one where we (and by 'we,' I mean sovereign individuals representing only their sovereign selves) and the miners (by 'miners,' I of course mean owners of the 3 top pools and major Chinese exchanges) come to the final consensus (I still don't really know what I mean by 'consensus'). |
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That's fantastic. As a German I have the choice between Bitcoin.de and Bitstamp. Otherwise no other alternatives?
I would not discuss the advantages and disadvantages of these two suppliers. But I would like to choose where I buy my Bitcoins and not let me dictate this from my government.
What's next?
Can I as a merchant accepting bitcoin? or the user must then identify?
Did my order and my bitcoin address in combination with my identity reported to the government, NSA, FBI, KGB and so on?
You can use Kraken, I wouldn't https://www.reddit.com/r/Bitcoin/comments/4s7biu/kraken_has_not_released_23000_of_my_funds_and/ |
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Few hours left and i think the price still stable no price down will happen so better to dont panic. There is no crash happen those speculation is very impossible now a days..
Happened half an hour ago. Price fell like a rock. $637.87 -4.04% |
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so guys, what is the current maximum block size 1mb or 2mb right now?
and how many maximum transactions per second can be made? 7 again?
can anyone paste a informative link.thx
1mb. 7 peak, ~3tps sustained. |
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Oh GOD! Why is this happening?! I was promised moon  |
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What would you consider "A very cheap price" ?
I think anything under $1000 is cheap....
I got a few coins @$999. How many should I put you down for? (This offer is available to all while supplies last  ) |
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The Satanists will already be displeased , Bitfinex's daily high has moved up from 666.6 to 666.7
Math quiz: 666.66 rounded to one decimal place is ___. |
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32. Did you see what the daily high is on BFX?   Good thing I already spilled innocent blood this morning at His smelly altar, or I'd be worried. |
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I think we can agree that if I spent terajoules digging sand instead of gold I wouldn't have something as valuable as the idiots you refer too.
so there it is, an admission that money needs to be tethered to the production of a valuable good. QED. Well there's some circular logic. Money spent does not mean a valuable good has been produced because cost of production alone doesn't determine value. If it did, production levels wouldn't fluctuate with price. What's wrong with you, don't you understand science?! Look, bitcoins are clearly a valuable good. It's an antifragile, disruptive, distributed public ledger with literally millions of real-world uses. Its value value is guaranteed to double in a few hours by the immutable laws of the cosmos. Have you even read the White Paper? |
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I'm laughing at people that try to short the halving.
Laughing through the tears, you mean? |
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