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Question: What happens when the Bitcoin  prices are too high and more Miners come online?
$20.00 - 0 (0%)
$50.00 - 1 (33.3%)
$75.00 - 0 (0%)
$100.00 - 0 (0%)
Will never happen! - 2 (66.7%)
Im getting out Now! - 0 (0%)
Total Voters: 3

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Author Topic: What happens when the Bitcoin prices are too high and more Miners come online?  (Read 1006 times)
bitcoinconnection
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June 05, 2011, 03:57:05 PM
 #1

What happens when the Bitcoin  prices are too high and more Miners come online?
Why I ask this?
Demand Destruction happens when the price for a stocks, commodities, Homes etc. becomes so high that
the average person cannot afford it. BTC "$17.00, $30.00, $50.00 $100.00".
 Bitcoin Miners are always coming online and adding BTC to the market causing a gult.
At what price will a flood of sell order go in trapping traders and their stockpile of Bitcoin?
Latest Bitcoin news at http://www.bitcoinconnection.com
KT
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Sukrim
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June 05, 2011, 04:11:38 PM
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Instead of spamming forums with advertisement, you could start on reading about difficulty adjustments... Roll Eyes

https://bitfinex.com <-- leveraged trading of BTCUSD, LTCUSD and LTCBTC (long and short) - 10% discount on fees for the first 30 days with this refcode: x5K9YtL3Zb
Mail me at Bitmessage: BM-BbiHiVv5qh858ULsyRDtpRrG9WjXN3xf
bitcoinconnection
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June 05, 2011, 04:14:33 PM
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Spamming would be not to post an opinion, but to give my bitcoin address for donation
Thanks
KT
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June 05, 2011, 04:51:12 PM
 #4

If you can't afford a bitcoin for $100, you can still afford 0.01 bitcoins for $1.

Ian Maxwell
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June 05, 2011, 06:01:28 PM
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If you can't afford a bitcoin for $100, you can still afford 0.01 bitcoins for $1.

Yes the exchanges could also simply simulate a price split by making - for example MilliBTC - the standard unit.

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