Bitcoin Forum
December 18, 2017, 05:30:49 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 3 [4] 5 »  All
  Print  
Author Topic: UPDATE  (Read 5209 times)
Anddos
Sr. Member
****
Offline Offline

Activity: 378


View Profile
February 09, 2016, 10:43:00 PM
 #61

You afraid that 200 million dollars are going to damage economy? If it would be so easy, billionaires would be posed as national threats ages ago.

200 million dollars are not going to destroy the economy of the world, but people who have in their hands 200 million dollars' worth of Bitcoin might manipulate the price of it to some extent. Maybe that's exactly what they are doing now: trying to lower the price in order to buy a lot of BTC when it's low enough.

Maybe just a bit but not enough to be significant. There are millions of bitcoins on the digital market at the moment so it really wouldn't pose that great of a threat.

1513575049
Hero Member
*
Offline Offline

Posts: 1513575049

View Profile Personal Message (Offline)

Ignore
1513575049
Reply with quote  #2

1513575049
Report to moderator
1513575049
Hero Member
*
Offline Offline

Posts: 1513575049

View Profile Personal Message (Offline)

Ignore
1513575049
Reply with quote  #2

1513575049
Report to moderator
1513575049
Hero Member
*
Offline Offline

Posts: 1513575049

View Profile Personal Message (Offline)

Ignore
1513575049
Reply with quote  #2

1513575049
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513575049
Hero Member
*
Offline Offline

Posts: 1513575049

View Profile Personal Message (Offline)

Ignore
1513575049
Reply with quote  #2

1513575049
Report to moderator
AliceWonderMiscreations
Full Member
***
Offline Offline

Activity: 182


View Profile WWW
February 09, 2016, 10:50:35 PM
 #62

i think its a serious problem, there's gap between the rich and the poor , and people who hold million btc can easily manipulate the market , so the rich will be richer and the poor can only follow the rich

This is where bitcoin is better.

Fiat currencies have intentional inflation in order to encourage spending and debt, but spending and debt is harmful to the poor - it takes from them and gives to the rich.

Unless you are wealthy, you can't afford the investments that beat inflation. So any money the poor do try to save ends up losing spending power.

Bitcoin is the opposite. If you are poor, you can save with bitcoin and you don't lose spending power. In fact your spending power of what you save increases as coins get lost.

An economy where the poor can save without losing spending power of what they save can help close the income gap.

I hereby reserve the right to sometimes be wrong
The Pharmacist
Hero Member
*****
Offline Offline

Activity: 994


View Profile
February 09, 2016, 11:10:57 PM
 #63

I suspect that even if what OP is saying is true that the wealth concentration will eventually redistribute.  Or maybe not, who knows.  Look at the wealth distribution of the US, where 50% of wealth is concentrated in 1% of the people.  Not sure if that's a danger or not, but it's a reality and I think bitcoin would survive it.
yenxz
Sr. Member
****
Offline Offline

Activity: 294



View Profile
February 10, 2016, 10:36:14 AM
 #64

I was wondering if this two factors:

- Milion of BTC lost by banks (like MT GOX) or by distracted people
- Milion of BTC in hand of few people (like Satoshi) than now have in their hand more than 200 milion of $

Can damage the BTC economy? Shouldn't this 2 factors increase the BTC value more and more?
this two also make me afraid,they two can control bitcoin price on some exchange exatly,and they will playing chart like playing game -_-
but i dont think this factors can damage bitcoin economy,as long so many developer try to develop bitcoin.
madonnino
Sr. Member
****
Offline Offline

Activity: 322


I ❤ www.LuckyB.it!


View Profile
February 10, 2016, 11:09:46 AM
 #65

I was wondering if this two factors:

- Milion of BTC lost by banks (like MT GOX) or by distracted people
- Milion of BTC in hand of few people (like Satoshi) than now have in their hand more than 200 milion of $

Can damage the BTC economy? Shouldn't this 2 factors increase the BTC value more and more?

off course yes, if some big fish decides to dump all his coin the price will go lower and lower
coinyard
Sr. Member
****
Offline Offline

Activity: 266

★YoBit.Net★ 350+ Coins Exchange & Dice


View Profile
February 10, 2016, 02:13:53 PM
 #66

I was wondering if this two factors:

- Milion of BTC lost by banks (like MT GOX) or by distracted people
- Milion of BTC in hand of few people (like Satoshi) than now have in their hand more than 200 milion of $

Can damage the BTC economy? Shouldn't this 2 factors increase the BTC value more and more?

off course yes, if some big fish decides to dump all his coin the price will go lower and lower

But some people have faith in Bitcoin, so the price is higher than certain level. The present bottom is $350.

Anddos
Sr. Member
****
Offline Offline

Activity: 378


View Profile
February 10, 2016, 10:46:03 PM
 #67

if it dropped from 1000$ to the current level, who knows what can happen next?

plost24
Sr. Member
****
Offline Offline

Activity: 462


View Profile
February 11, 2016, 05:59:19 AM
 #68

if it dropped from 1000$ to the current level, who knows what can happen next?
bitcoin will have always high price now 380$ and it will be higer and higer the price maybe will drop a little but then it will raise Wink

For rent 1.4 Bitcoin for 11 months starting Feb 1 2017
Kakmakr
Legendary
*
Online Online

Activity: 1134

★ ChipMixer | Bitcoin mixing service ★


View Profile
February 11, 2016, 06:12:53 AM
 #69

Let's compare it with gold. A lot of gold are mined and then refined and used for jewelry. These items decrease the gold supply on markets, when it is hoarded in cupboards or in your safe. Some of these items are lost. < On beaches or in the water >

Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.

The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.  Grin
 

valta4065
Hero Member
*****
Offline Offline

Activity: 672


★Jetwin.com★


View Profile
February 11, 2016, 12:08:21 PM
 #70

Let's compare it with gold. A lot of gold are mined and then refined and used for jewelry. These items decrease the gold supply on markets, when it is hoarded in cupboards or in your safe. Some of these items are lost. < On beaches or in the water >

Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.

The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.  Grin
 

Good analogy, but add to that that btc has a strictly limited quantity!
So any coin lost means more value for the remaining ones =D


▄▄▄████████▄▄▄
▄▄███▀▀▀ ▄  ▄ ▀▀▀███▄▄
▄██▀▀ ▄▄████  ████▄▄ ▀▀██▄
▄██▀ ▄███████    ███████▄ ▀██▄
██▀ ▄████████▀    ▀████████▄ ▀██
██▀ ██████████      ██████████ ▀██
██▀ ██████████        ██████████ ▀██
▄██                                ██▄
██ ▄                              ▄ ██
██ ███▄                        ▄███ ██
██ ██████▄                  ▄██████ ██
██ ▀████████              ████████▀ ██
▀██ ███████                ███████ ██▀
██▄ █████▀                ▀█████ ▄██
██▄ ████        ▄▄        ████ ▄██
██▄ ▀█      ▄▄████▄▄      █▀ ▄██
██▄    ▄▄██████████▄▄    ▄██▀
▀██▄▄ ▀▀██████████▀▀ ▄▄██▀
▀▀███▄▄▄ ▀▀▀▀ ▄▄▄███▀▀
▀▀▀████████▀▀▀
 

    [    ]
coinyard
Sr. Member
****
Offline Offline

Activity: 266

★YoBit.Net★ 350+ Coins Exchange & Dice


View Profile
February 11, 2016, 03:46:39 PM
 #71

Let's compare it with gold. A lot of gold are mined and then refined and used for jewelry. These items decrease the gold supply on markets, when it is hoarded in cupboards or in your safe. Some of these items are lost. < On beaches or in the water >

Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.

The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.  Grin
 

Good analogy, but add to that that btc has a strictly limited quantity!
So any coin lost means more value for the remaining ones =D

The market capitalization of Bitcoin will be much higher than gold in the future. Bitcoin has more usage than gold.

calkob
Hero Member
*****
Offline Offline

Activity: 714


View Profile
February 11, 2016, 08:37:46 PM
 #72

I was wondering if this two factors:

- Milion of BTC lost by banks (like MT GOX) or by distracted people
- Milion of BTC in hand of few people (like Satoshi) than now have in their hand more than 200 milion of $

Can damage the BTC economy? Shouldn't this 2 factors increase the BTC value more and more?

The millions lost be Gox where stolen not lost and yes the millions in the hands of the few could be a problem if they dumped them all at once, but i reackon they would get very little for them if that was done as the price would crash before they offloaded them.
Falmant
Jr. Member
*
Offline Offline

Activity: 32


View Profile
February 18, 2016, 11:38:16 AM
 #73

Let's compare it with gold. A lot of gold are mined and then refined and used for jewelry. These items decrease the gold supply on markets, when it is hoarded in cupboards or in your safe. Some of these items are lost. < On beaches or in the water >

Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.

The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.  Grin
 

Good analogy, but add to that that btc has a strictly limited quantity!
So any coin lost means more value for the remaining ones =D

The market capitalization of Bitcoin will be much higher than gold in the future. Bitcoin has more usage than gold.

Gold is mainly the store of values, or an investment. Bitcoin is both an investment and a currency. You can use it.
aardvark15
Hero Member
*****
Offline Offline

Activity: 588


View Profile
February 18, 2016, 11:48:57 AM
 #74

I've wondered about the lost bitcoins.  Separate from the stolen (hacked) bitcoins, there are always going to be people that lose their private keys or die and nobody knows the private key and those coins are lost forever.  There is really no way to know how many are lost.  Does this affect the price since those coins can never go back into circulation but it is unknown that they are lost?

freakying99
Sr. Member
****
Offline Offline

Activity: 430


Pythagoras and Plato are my brothers.


View Profile
February 18, 2016, 12:48:51 PM
 #75

There is really no way to know how many are lost.  Does this affect the price since those coins can never go back into circulation but it is unknown that they are lost?
I think there is no way to know and there was a discussion already done here[1] .It does effects the price if it is happening too often or has happened with a large amount of btc's and IMO this was pretty much expected when it was created,so not much to worry bout.

[1] https://bitcointalk.org/index.php?topic=1097562.320
Pitchblackroom
Sr. Member
****
Offline Offline

Activity: 315



View Profile
February 18, 2016, 12:51:17 PM
 #76

The Lost bitcoins shouldn't matter in the end, just lowers the supply for the demand. However when people who have invested into a currency back out, then the value of it goes down.

██
█║█
║║║
║║║
█║█
██

                    ▄██▄
                  ▄██████▄
                ▄██████████
              ▄██████████▀   ▄▄
            ▄██████████▀   ▄████▄
          ▄██████████▀    ████████▄
         ██████████▀      ▀████████
         ▀███████▀   ▄███▄  ▀████▀   ▄█▄
    ▄███▄  ▀███▀   ▄███████▄  ▀▀   ▄█████▄
  ▄███████▄      ▄██████████     ▄█████████
  █████████    ▄██████████▀    ▄██████████▀
   ▀█████▀   ▄██████████▀    ▄██████████▀
     ▀▀▀   ▄██████████▀    ▄██████████▀
          ██████████▀    ▄██████████▀
          ▀███████▀      █████████▀
            ▀███▀   ▄██▄  ▀█████▀
                  ▄██████▄  ▀▀▀
                  █████████
                   ▀█████▀
                     ▀▀▀
e i d o o
██


                    ▄██▄
                  ▄██████▄
                ▄██████████
              ▄██████████▀   ▄▄
            ▄██████████▀   ▄████▄
          ▄██████████▀    ████████▄
         ██████████▀      ▀████████
         ▀███████▀   ▄███▄  ▀████▀   ▄█▄
    ▄███▄  ▀███▀   ▄███████▄  ▀▀   ▄█████▄
  ▄███████▄      ▄██████████     ▄█████████
  █████████    ▄██████████▀    ▄██████████▀
   ▀█████▀   ▄██████████▀    ▄██████████▀
     ▀▀▀   ▄██████████▀    ▄██████████▀
          ██████████▀    ▄██████████▀
          ▀███████▀      █████████▀
            ▀███▀   ▄██▄  ▀█████▀
                  ▄██████▄  ▀▀▀
                  █████████
                   ▀█████▀
                     ▀▀▀
██
█║█
║║║
║║║
█║█
██
HeroCat
Hero Member
*****
Offline Offline

Activity: 658


View Profile
February 19, 2016, 03:34:00 PM
 #77

They can not spend them, even if the try to buy/sell in BTC exchange market. On average all users are buy/sell with ~ 5 - 20 BTC and not more.  Wink 
coinyard
Sr. Member
****
Offline Offline

Activity: 266

★YoBit.Net★ 350+ Coins Exchange & Dice


View Profile
February 20, 2016, 08:42:18 PM
 #78

They can not spend them, even if the try to buy/sell in BTC exchange market. On average all users are buy/sell with ~ 5 - 20 BTC and not more.  Wink 

If there are 10 million of users of bitcoin in a few years, on average, they will have no more than 2 bitcoin each.

Laosai
Sr. Member
****
Offline Offline

Activity: 462


View Profile
February 20, 2016, 09:08:54 PM
 #79

How could it be a danger? it'll only reduce btc supply hence increase btc price!

n0ne
Hero Member
*****
Offline Offline

Activity: 686



View Profile WWW
February 20, 2016, 10:58:16 PM
 #80

Millions were lost due to transaction collapses. And a part of the generated bitcoin is in the hands of few people. In the second part half is accumulated. Now big companies are planning to enter who may own the remaining part which finally be a danger zone for common men as said.

.....DEMETER.....
..  Reinventing agriculture on blockchain  ..
                                 
                              ████████
                            ███████████████
                      ██████   ████████████████
                  ██████████████   ██████████████
               █████████████████████   ███████
           █████████████████████████████
       ██████████████████████████████   █████
   ██████████████████████████████   ████████████
 █████████████████████████████   ████████████████████
     █████████████████████   ███████████████████████████
         █████████████   ███████████████████████████████████
             █████   ███████████████████████████████████████████
                  █████████████████████████████████████████████████
             █████   █████████████████████████████████████████████████
        ██████████████   ███████████████████████████████████████████
       ███████████████████   ███████████████████████████████████
          ████████████████████   ████████████████████████████
              ████████████████████   ████████████████████
                  ████████████████████  █████████████
                      ███████████████████   █████
                         ███████████████████
                             ████████████
                                  ████
..    Ag4.0 Revolution    ..
●Platform  ●Community  ●Token  ●Growfunding


███
███
███
███
███
███
███
███
███
███
███
███

• Whitepaper   • ANN Thread   • Twitter
• Youtube         • Github            • Telegram


███
███
███
███
███
███
███
███
███
███
███
███
Pages: « 1 2 3 [4] 5 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!