Bitcoin Forum
May 25, 2024, 09:46:33 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: Bitcoin prophesy  (Read 3969 times)
stompix
Legendary
*
Offline Offline

Activity: 2898
Merit: 6364


Blackjack.fun


View Profile
January 16, 2014, 02:17:35 AM
 #21

I bet I can find at least 10 posts claiming that Gox won't make it till 2014.

Also the republic of Congo will choose FellatioCoin , get it while it's....fresh?hot?sticky?


.
.BLACKJACK ♠ FUN.
█████████
██████████████
████████████
█████████████████
████████████████▄▄
░█████████████▀░▀▀
██████████████████
░██████████████
████████████████
░██████████████
████████████
███████████████░██
██████████
CRYPTO CASINO &
SPORTS BETTING
▄▄███████▄▄
▄███████████████▄
███████████████████
█████████████████████
███████████████████████
█████████████████████████
█████████████████████████
█████████████████████████
███████████████████████
█████████████████████
███████████████████
▀███████████████▀
█████████
.
Cyberdyne
Hero Member
*****
Offline Offline

Activity: 630
Merit: 500



View Profile
January 16, 2014, 02:28:27 AM
 #22

I bet I can find at least 10 posts claiming that Gox won't make it till 2014.

Also the republic of Congo will choose FellatioCoin , get it while it's....fresh?hot?sticky?



And 10 more claiming Litecoin will be on Gox in 2 weeks.
mestar
Sr. Member
****
Offline Offline

Activity: 407
Merit: 250


View Profile
January 16, 2014, 02:51:20 AM
 #23

I see.  So what you're saying is that the higher the price goes, the less it is worth.

Yes, you are very funny.  No, what I mean is that, the higher the price, the bigger the selling pressure coming from miners becomes.   See here: https://bitcointalk.org/index.php?topic=414657.0
notig
Sr. Member
****
Offline Offline

Activity: 294
Merit: 250


View Profile
January 16, 2014, 04:29:27 AM
 #24

I see.  So what you're saying is that the higher the price goes, the less it is worth.

Yes, you are very funny.  No, what I mean is that, the higher the price, the bigger the selling pressure coming from miners becomes.   See here: https://bitcointalk.org/index.php?topic=414657.0

That argument doesn't make sense. Why would you treat miners different than holders of coin? Do they have mining costs? Sure. They have costs incurred that results in them getting bitcoins. Where do the people who are not miners get their coins? They buy them. So they have costs as well. Does the price going up somehow drive them to sell because they incurred costs to buy bitcoin?
mestar
Sr. Member
****
Offline Offline

Activity: 407
Merit: 250


View Profile
January 16, 2014, 02:17:55 PM
 #25

No, what I mean is that, the higher the price, the bigger the selling pressure coming from miners becomes.   See here: https://bitcointalk.org/index.php?topic=414657.0

That argument doesn't make sense. Why would you treat miners different than holders of coin?

Because they are different. 

Miners collectively get their 3600 BTC daily.  Miners have running costs.

Holders get nothing.  Holders have no running costs.

See, two differences.

This 3600, expressed in dollars, is proportional to the price of Bitcoin.  So, at $1000 per BTC, this becomes $3.6 million.   This is the maximum amount that the miners in total can spend on electricity.   Miners will add new hardware until they get close to this limit, perhaps with-in 50%.  This is a simple economic argument.

So, we are going toward a situation where miners have to pay perhaps $1.8 million daily, and utility companies are still not accepting Bitcoins.  This means, this amount of daily money must come from
somewhere:  miners sell on exchanges.

Also, once the price of Bitcoin changes, this amount changes as well, so we have a feedback mechanism, the higher the price, more miners have to sell, and selling tends to reduce the price.

Holders don't have this situation, and this is why we treat them differently.



mestar
Sr. Member
****
Offline Offline

Activity: 407
Merit: 250


View Profile
January 16, 2014, 02:18:55 PM
 #26

Where do the people who are not miners get their coins? They buy them. So they have costs as well. Does the price going up somehow drive them to sell because they incurred costs to buy bitcoin?

Here you are just being silly. Smiley


GigaCoin
Sr. Member
****
Offline Offline

Activity: 308
Merit: 251


Giga


View Profile
January 16, 2014, 03:32:42 PM
 #27

This thread is dedicated to bad news prophecies only?

Heck no, is $3k Bitcoin at the end of 2015 bad news? ....Well maybe for some people Smiley

um yes, $3k bitcoin is 2015 is pretty shitty

DieJohnny (OP)
Legendary
*
Offline Offline

Activity: 1639
Merit: 1006


View Profile
January 16, 2014, 03:54:06 PM
 #28

This thread is dedicated to bad news prophecies only?

Heck no, is $3k Bitcoin at the end of 2015 bad news? ....Well maybe for some people Smiley

um yes, $3k bitcoin is 2015 is pretty shitty

Please please let it be a shitty 2015 then....

Those who hold and those who are without property have ever formed distinct interests in society
predictbits
Newbie
*
Offline Offline

Activity: 17
Merit: 0


View Profile WWW
January 17, 2014, 07:24:48 AM
 #29

I'm not too sure coinbase could fail on it's own this year with the 25m from AH.
DieJohnny (OP)
Legendary
*
Offline Offline

Activity: 1639
Merit: 1006


View Profile
January 28, 2014, 01:06:46 AM
 #30

I'm not too sure coinbase could fail on it's own this year with the 25m from AH.

Coinbase looks pretty solid at this time

Those who hold and those who are without property have ever formed distinct interests in society
DieJohnny (OP)
Legendary
*
Offline Offline

Activity: 1639
Merit: 1006


View Profile
April 02, 2014, 05:35:49 PM
 #31

How many bonus Bitcoins do i get if all my predictions come true!!!!!

Dear God it was a vision!

Those who hold and those who are without property have ever formed distinct interests in society
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!