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Author Topic: Scarcity has been achieved  (Read 1618 times)
rocks
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April 02, 2013, 07:44:13 PM
 #1

There are practically no BTC offers above $110.

Now if this was fiat FED funny money, the FED would increase the amount of funny money to create "stability" (and give it to bankers and polititins in the process). And if this was gold the FED would "lend" it out in mass quantities (effectively creating fractional gold out of thin air)

But since the supply of BTC is FIXED, I guess we will finally get to see what happens when an item is in high demand, but supply is forced to behave by well defined rules....
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Newscastix
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April 02, 2013, 07:48:34 PM
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$ ∞/BTC   Shocked

This is gonna be interesting to watch...
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April 02, 2013, 07:53:19 PM
 #3

The Bitcoin Singularity is near.

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str4wm4n
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April 02, 2013, 07:59:01 PM
 #4

halfpasthuman.com predicted it
thezerg
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April 02, 2013, 08:19:35 PM
 #5

not to worry sellers will come...
johnyj
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April 02, 2013, 08:32:59 PM
 #6

This is like a black hole, suck in everything valueable. If anyone ever sold, they will seldom have a chance to buy it back at the same or lower price, due to extremely demand and supply imbalance

This is the only thing that have a clearly defined fixed supply on the planet, and it is reachable for everyone in matter of seconds, very dangerous

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April 02, 2013, 11:30:00 PM
 #7

At my current supply of btc (small) I'm personally waiting to sell a bunch if it ever hits $10k ea.  I have a mortgage to pay off.   If, however, it looks like it'll easily climb through $10k, I'll put in a buy at $10k once it surpasses it, hoping to catch it on the decline, but otherwise will see where it goes.
afbitcoins
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April 02, 2013, 11:33:15 PM
 #8

There are practically no BTC offers above $110.

Now if this was fiat FED funny money, the FED would increase the amount of funny money to create "stability" (and give it to bankers and polititins in the process). And if this was gold the FED would "lend" it out in mass quantities (effectively creating fractional gold out of thin air)

But since the supply of BTC is FIXED, I guess we will finally get to see what happens when an item is in high demand, but supply is forced to behave by well defined rules....

Well said. I think the result is that the price goes to the moon!!!
proudhon
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April 02, 2013, 11:34:04 PM
 #9

Thank the apparent benevolence of a handful of early adopters.  As soon as things turn, the order book will look completely different, and we could easily see more than 200k BTCs pile up on the sell side as the price comes crashing down.
icellan
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April 02, 2013, 11:35:14 PM
 #10

At my current supply of btc (small) I'm personally waiting to sell a bunch if it ever hits $10k ea.  I have a mortgage to pay off.   If, however, it looks like it'll easily climb through $10k, I'll put in a buy at $10k once it surpasses it, hoping to catch it on the decline, but otherwise will see where it goes.

I was thinking exactly the same thing, but missed the boat when BTC was at euro 35. My bank money transfer didn't work :-(  eventually bought at 47.

A few days ago I tried again, wanting to buy some more BTC. Price was at euro 74, but bank failed me again. They blocked my account. Eventually managed to buy at euro 85.

So, lost a few euro's due to bank failings, shouldn't complain, others lost a lot more. Hope to recoupe with BTC's skyrocketing.

http://mysatoshis.com/ - 1Am5MpimH3c61igY6vsrMWwPjYKSX59hoV
bb113
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April 02, 2013, 11:44:54 PM
 #11

Thank the apparent benevolence of a handful of early adopters.  As soon as things turn, the order book will look completely different, and we could easily see more than 200k BTCs pile up on the sell side as the price comes crashing down.

I have a feeling this type of plan (the selling now part) could go terribly wrong for the dumpers. What percent of money is actually shown in those buy orders? 200k btc at $100 is $20 million. Is it unreasonable that only 1/3 of the USD on gox is being shown? There are simply so many more dollars with nowhere good to go compared to number of bitcoins for sale. I also suspect that millions of the early coins are gone but we will always be left with that uncertainty.
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