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Author Topic: A simple definition of "lost" coins  (Read 2693 times)
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February 05, 2013, 05:59:20 PM

It is only stop loss if there is a loss.

As someone already pointed out they went from $1 each up to $2 each, with a bubble inbetween. Any point inbetween where it was momentarily going down was a risky point where if you sold you might not manage to buy back in before it skyrocketed to $50 or $100 or more leaving you no opportunity to buy back in. Also, if one is buying with hash power rather than buying with fiat then you are basically buying 24/7 using hash/difficulty averaging so if difficulty goes down you buy faster if it goes up you buy slower.

Hmm, send money to some random scammer on the internet or buy more GPUs, let me think about that...

Plus we already proved it can go to over $30, even before it has hardly even started to catch on and develop infrastructure. Any moment people will come back to their senses and it will scoot up to $1000 or so, want to be the guy who just sold for less than $100 when that happens?


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Walter Rothbard
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February 05, 2013, 06:08:40 PM

Why do you we need a definition of lost coins?

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February 05, 2013, 06:34:09 PM

Some thoughts:

- De Beers and its secret diamond reserves. Keeping large amount of something considered "valuable" to yourself and out of the free market to make it look scarce, tends to raise the value of the valuables. Why not do the same with bitcoins? The owner(/s) can always have other wallets.
- Someone used Bitcoin and didn't make a backup of his/her wallet and lost everything because of a hardware failure
- Owner of the wallets are dead
- A large pool owner or someone who wanted to make Bitcoin valuable to make business (FPGA or ASIC vendor, etc.)
- Someone wanted to make Bitcoin more scarce to make it more valuable, so that he/she can exchange bitcoins to fiat money and get rich
- Some ppl bored using Bitcoin, deleted their wallets and now regret it
- Some ppl made their own "Bitcoin Reserve" for whatever purposes

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