rnoynet (OP)
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March 27, 2013, 12:55:04 AM |
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Number of bitcoins is growing slowly and number of owners of bitcoins is increasing faster, this means fight, which means higher and higher price. Some weeks ago 20 euros, now 60 euros.. I wonder how many owners there are at the moment when the price is already 61,39 eur..
I think bitcoins cannot be splitted by 2, 10, 100 o so, like shares can.. !
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rnoynet (OP)
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March 27, 2013, 01:01:36 AM |
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Maximum number of them is so low (was it that in the year 2040, 21'000'000, which confuses me. It makes no sence!
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farlack
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March 27, 2013, 01:03:34 AM |
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ASICS shipped, difficulty higher, gpus turned off, asic miners not selling, not enough stock from the small gpu guys selling their 1 coin a day made no longer selling.
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b¡tco¡n
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Correct Horse Battery Staple
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March 27, 2013, 01:04:51 AM |
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Yes they can! A bitcoin can be divided down to 8 decimal places. Therefore, 0.00000001 BTC is the smallest amount that can be handled in a transaction. If necessary, the protocol and related software can be modified to handle even smaller amounts. From: https://en.bitcoin.it/wiki/FAQ#How_divisible_are_bitcoins.3F |
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melpomene
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March 27, 2013, 01:27:16 AM |
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hi!
there are several factors but nobody really knows.
for sure, now a lot of people are getting into the boat because of news from bitcoin breaking its former upper maximum (around 32$), also because of the cyprus issue with banks, so price necessarily goes up since supply is more or less constant (and actually was also reduced recently).
but all of that is actually from after bitcoin started climbing price. at that time (beginning of the year), the reasons given where a lot of good news in the bitcoin economy (asics, some exchanges legalizing or even becoming banks, bitpay expansion, more things to buy for bitcoin, big internet players joining in -wordpress, reddit...-)
anyways, as said before in the thread, its supposed to go up (its deflationary) in the long term, maybe bitcoin was undervalued before, maybe it is now (for the current market size...)... but anyways if all goes well, 80 or 100$ is not much for one bitcoin on the long term.
greetings
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udaybitcoin
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March 27, 2013, 01:56:59 AM |
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Because people want it
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aylwood
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March 27, 2013, 02:06:13 AM |
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see here: http://mtgoxlive.com/ordersthe brown line wants in, the blue line wants out. when brown is higher and steeper than blue, price will rise (usually) they got the colours right. brown is an endless ocean of shitty fiat drowning the world. blue is shining beacon of future happiness (limited edition). looks like a tsunami of shit coming. |
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jasonjm
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March 27, 2013, 05:06:48 AM |
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as in any financial market, hype and rapid moves actually feed on themselves
No one who doesn't need to sell will do so in a rapid move up
and people act irrationally and buy at any price because they feel like every hour costs them more money in lost profits.....
But think about it, in the next few months tens of millions of dollars of ASICS will come online. These represent substantial investments, and the people who bought these will try and recover their money.
In addition, speculators will take profit at some point.
There are also substantial risks in bitcoin (governments burning bitcoin by some method, hacker compromising some aspect of bitcoin or taking down a major exchange, some technological snafu etc etc).
you ever heard of the saying : ride like lightning, crash like thunder.......
that being said, if bitcoin truly becomes a massive success, long term $100 is a very low price. But let's be real here, nothing goes up 10% a week or more in perpetuity.
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MoonShadow
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March 27, 2013, 05:18:45 AM |
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Number of bitcoins is growing slowly and number of owners of bitcoins is increasing faster, this means fight, which means higher and higher price. Some weeks ago 20 euros, now 60 euros.. I wonder how many owners there are at the moment when the price is already 61,39 eur..
I think bitcoins cannot be splitted by 2, 10, 100 o so, like shares can.. !
I'm not entirely sure what you mean, but a bitcoin can, at present, be divided down to 0.00000001 of a full bitcoin. |
"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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superdork
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March 27, 2013, 05:29:39 AM |
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Number of bitcoins is growing slowly and number of owners of bitcoins is increasing faster, this means fight, which means higher and higher price. Some weeks ago 20 euros, now 60 euros.. I wonder how many owners there are at the moment when the price is already 61,39 eur..
I think bitcoins cannot be splitted by 2, 10, 100 o so, like shares can.. !
I'm not entirely sure what you mean, but a bitcoin can, at present, be divided down to 0.00000001 of a full bitcoin. and there are adjustments that could be made to divide beyond that, making it theoretically infinite |
feel free to leave a tip in my daughter's college fund if you found my posts helpful 1HiCE3vX7yr7Yqy4yHf36x4w1cmSEsrTbM
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torrentheaven
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March 27, 2013, 09:08:47 AM |
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that being said, if bitcoin truly becomes a massive success, long term $100 is a very low price. But let's be real here, nothing goes up 10% a week or more in perpetuity.
10% a week seems easy money. Wait a minute, someone has to pay for it, right? Now it is newcommers who buy like crazy - but as long as they find new newcommers willing to pay even more, today newcommers doesnt necessary end in loss. What a bubble ! |
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notme
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March 27, 2013, 09:14:58 AM |
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Bernanke is printing 85 billion a month. That is more than 3 bitcoin markets a day.
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dazultra
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March 27, 2013, 09:20:42 AM |
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Expect more increases ...this bubble has nice thick walls.
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torrentheaven
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March 27, 2013, 09:24:45 AM |
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Bernanke is printing 85 billion a month. That is more than 3 bitcoin markets a day.
Ok, but this market is not for Bitcoin. Bitcoin can do max 7 transactions / sec. It doesnt matter how much money you print, new money is created from debt only. |
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MaraC
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March 27, 2013, 10:58:00 AM |
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More demand & it's all over the news, more people are into it..
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Vladimir
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March 27, 2013, 11:00:22 AM |
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In the times of universal fiat BS a honest currency is revolutionary.
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empoweoqwj
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March 27, 2013, 11:11:19 AM |
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I don't trust order books. They are not intentions to trade in most cases, merely intentions to deceive. Order books are for show, trades for dough.
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BrightAnarchist
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March 27, 2013, 11:53:21 AM |
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that being said, if bitcoin truly becomes a massive success, long term $100 is a very low price. But let's be real here, nothing goes up 10% a week or more in perpetuity.
10% a week seems easy money. Wait a minute, someone has to pay for it, right? Now it is newcommers who buy like crazy - but as long as they find new newcommers willing to pay even more, today newcommers doesnt necessary end in loss. What a bubble ! Sounds like the stock market |
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