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Author Topic: Concerned about the recent BTC price rise.  (Read 9479 times)
odolvlobo
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March 02, 2013, 09:52:27 PM
 #81

**snip**
My hypothesis is that this rally is explained by:

  • 30% -> new people discovering Bitcoin.
  • 20% -> the halving itself.
  • 50% -> the psychological effect of the halving (over the whole community, not only over miners). Nobody wants to sell their coins.

If the 50% assumption of hoarding is true...well it's nothing new. Hoarding has always been a problem in Bitcoin, has it not?

No it has never been a problem.

In the U.S., where the governments and the majority of the population routinely spend more than they earn, it is not surprising that saving (a.k.a. "hoarding") is seen as a problem.

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March 02, 2013, 10:03:41 PM
 #82

Bitcoin incentive to hoard is not a bug, it is a feature.  Wink

Also many people may not realise but bitcoin can only stabilise once it has a deep market. A deep market will be signified by significant holdings of value inside the btc ecosystem. Because of the fixed limit of bitcoins this will only happen at much higher values w.r.t. to dollar, euro holdings etc ... i.e. 0.adoption => hoarding => higher price => more stability => goto 0.

It is a kind of all or none, with us or agin us, type of deal. We are shooting for the fences.

I'm musing about beginning the "Plato Club", people who have gone 'all in' on bitcoin savings. Plato and Rick Falkvinge would be honorary founding members of course.

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