Bitcoin Forum
August 22, 2018, 03:55:34 AM *
News: Latest stable version of Bitcoin Core: 0.16.2  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: BTC vs. USD  (Read 1046 times)
minerops
Member
**
Offline Offline

Activity: 62
Merit: 10



View Profile
June 11, 2011, 06:42:52 PM
 #1

I am starting this topic to hopefully get some more insights as to what others are thinking about the actual BTC economy. By actual, I mean the exchange of goods and services for BTC, rather than speculative trading.

It's clear that speculation is still the driving force behind the exchange rate fluctuation, with over 130k BTC changing hands today on Mt. Gox (only ~10k BTC mined per day). So assuming all of the BTC mined on any given day are thrown into the market, they were traded 13 times each!

This is some heavy heavy speculation... but we know not all the BTC mined are traded right away. As a first estimate, I'm going to say 50-75% of BTC mined per day are either hoarded or used in some way on the web.

Let me know what you think  ... and share the info!

JHJ 420
1534910134
Hero Member
*
Offline Offline

Posts: 1534910134

View Profile Personal Message (Offline)

Ignore
1534910134
Reply with quote  #2

1534910134
Report to moderator
"This isn't the kind of software where we can leave so many unresolved bugs that we need a tracker for them." -- Satoshi
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1534910134
Hero Member
*
Offline Offline

Posts: 1534910134

View Profile Personal Message (Offline)

Ignore
1534910134
Reply with quote  #2

1534910134
Report to moderator
Basiley
Jr. Member
*
Offline Offline

Activity: 42
Merit: 0


View Profile
June 11, 2011, 06:57:26 PM
 #2

but, but, USD issuers had spaceships and friggin lazors !!
how defenseless BitCoin can survive ? probably by strike 1st ?
p.s.
anyone had WMD for BitCoins ? [same for devivery service to US].
Reckman
Hero Member
*****
Offline Offline

Activity: 695
Merit: 500


View Profile
June 11, 2011, 06:58:22 PM
 #3

I am starting this topic to hopefully get some more insights as to what others are thinking about the actual BTC economy. By actual, I mean the exchange of goods and services for BTC, rather than speculative trading.

It's clear that speculation is still the driving force behind the exchange rate fluctuation, with over 130k BTC changing hands today on Mt. Gox (only ~10k BTC mined per day). So assuming all of the BTC mined on any given day are thrown into the market, they were traded 13 times each!

This is some heavy heavy speculation... but we know not all the BTC mined are traded right away. As a first estimate, I'm going to say 50-75% of BTC mined per day are either hoarded or used in some way on the web.

Let me know what you think  ... and share the info!

Used on the web, basically means sold on MTgox, any retailer is just trading them in for currencies they can pay bills with.
Pages: [1]
  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!