OK, that makes more sense. If the individual Bitcoin is divisible to 9 decimal places then I can see it has the potential to handle growth too.

21,000,000 is arbitary .. it makes more sense.

At the end of the its all about the 'perceived' value by the masses. That is what drives every market = supply and demand of course, but also - the madness of crowds and crowd psychology.
This can lead to runs on banks or overinflated housing prices .. and often both at the same time.! :-)

Hi,

I am a UK based web developer. I've noticing that Bitcoin is nowhere near as accepted here in the UK as it is in the US (and other countries).
There are people trading Bitcoins in the UK (I do myself), but I'm not feeling the 'buzz' about bitcoin here (and I work in the City of London) as I
feel it in other locations. Maybe we Brits are just a little more cautious and reticent to new ideas? I remember even 5 years ago, Brits were very
uneasy to give their CC details to online sites. But that has changed. I am estimating that the UK interest is about 6-12 months behind US interest.

To this end I have started building a site that lets people/businesses buy sell/products and services online and accept payment in BTC.
Launch - 1-2 months. Domain name and site are under wraps for now.

*** I would be interested to hear from investors in the UK. ***

Any companies wishing to advertise their UK business accepting Bitcoin should get in touch - there will be a database Directory of businesses accepting Bitcoin.
If you want to be in it before the site is launched ... send me your details:
Company Name
Address/tel etc
Web address
Products/Services offered that you are accepting BTC for.

I will start adding these to the database. Upon launch their will be a facility for businesses to add themselves to the db.

I guess what I am thinking is as follows:

a) Some coins will just get lost - lost wallets, crashed harddrives, people passing away (!) and not leaving access to their wallets.
b) some people will be BTC hoarders (like myself) .. stashing away BTC for the long term .. if 1000 people stash away 1000 BTC - thats 1 million gone from the liquidity straight away! 5% of the total number of bitcoins... and thats not really very difficult to happen - 1000 people putting away 1000 BTC (approx 10,000 dollars)....

I think its a good thing...! I'd rather invest in a currency that has limited supply (like BTC) than a currency which gets devalued continuously because they keep printing more of it! USD/GBP +others.

 

I think the fact that there is a limited supply will actually increase the price of BTC over time. Think about it, everything rare in the world is expensive : Gold, Diamonds etc - because they are hard to mine.
Fiat Currencies are getting devalued all the time - because they keep printing more! Thus your $'s are losing value! But BTC - there is a fixed and dwindling amount ... this should cause the price to increase.

Hi,

inevitably some coins will be lost - broken laptops, irrecoverable wallets etc. Same as losing real coins under the sofa.
As there is a limited number of coins (presumably these won't be replenished), then in effect we have an ever dwindling supply of coins.
Over time the supply will just get less and less. 21 million isn't a huge number of coins.

Would this be an additional factor to cause the price to increase?

Hi I'm tenakha,

London based trader. I am fairly new to Bitcoin. I have bought 16 BTC so far with little difficultly.

Considering trying mining. But I have a NVidia Card, which I understand is useless for mining!