Peter Lambert (OP)
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April 03, 2013, 05:33:23 PM Last edit: April 03, 2013, 06:27:16 PM by Peter Lambert |
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I know this might be hard to estimate, and the numbers are skewed by the small history of bitcoins, and the choices are rather granular, but I thought this might be useful.
What I am looking for is the velocity of bitcoins through us. By knowing the velocity of a typical user, we can then estimate what effect adding more users will have.
Think of your entire history with bitcoins, try to roughly estimate the length you held an average bitcoin from the time you received it to the time you spent it.
For example:
- if you send all your bitcoins immediately to an exchange to sell or when you buy something with bitcoins you buy just enough for that purchase, then you would pick "1 hour" - if you mine bitcoins and once a week send all your earnings to an exchange and cash out, then you would pick "1 week". - if you bought 2 bitcoins a couple months ago, spent one immediately and are still holding the other, then you would pick "1 month" - if you have a huge stash from a couple years ago, and you buy small amounts and spend small amounts then you would pick "1 year" since the bulk of your holdings is longer term.
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Use CoinBR to trade bitcoin stocks: CoinBR.comThe best place for betting with bitcoin: BitBet.us
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Wekkel
Legendary
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Activity: 3108
Merit: 1531
yes
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April 03, 2013, 06:00:46 PM |
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I plan to hold until Bitcoin is fully adopted as online currency or dead. It's kinda lottery ticket stuff that way, losing never hurts
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drrussellshane
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April 03, 2013, 06:38:20 PM |
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I plan to hold until Bitcoin is fully adopted as online currency or dead. It's kinda lottery ticket stuff that way, losing never hurts This is the way I have talked about it to people. They spend money on lottery tickets, when a well timed $5 purchase into bitcoins could achieve a similar end.
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Buy a TREZOR! Premier BTC hardware wallet. If you're reading this, you should probably buy one if you don't already have one. You'll thank me later.
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knight22
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--------------->¿?
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April 04, 2013, 12:46:19 AM |
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I plan to hold until Bitcoin is fully adopted as online currency or dead. It's kinda lottery ticket stuff that way, losing never hurts Same here. Im holding at least until I can purchase goods and services easily with bitcoin
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yvv
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Activity: 1344
Merit: 1000
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April 04, 2013, 12:48:35 AM |
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I plan to hold until Bitcoin is fully adopted as online currency or dead. It's kinda lottery ticket stuff that way, losing never hurts Signed.
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zoinky
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April 04, 2013, 01:08:29 AM |
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If it dies, I would not mind having a piece of history. If it succeeds, it sure as hell beats a loaded bank account.
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Bitcoinassasin
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Activity: 48
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April 04, 2013, 01:13:05 AM |
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From a miner perspective, or a bullish market player perspective?
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Elwar
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Viva Ut Vivas
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April 04, 2013, 01:33:58 AM |
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I will buy things with my bitcoins.
As for big "sells"...I will some day pay off my house with a small portion of my bitcoins. Hopefully before that happens I can find a mortgage company that will take payments in bitcoins.
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First seastead company actually selling sea homes: Ocean Builders https://ocean.builders Of course we accept bitcoin.
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Lazer
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April 04, 2013, 02:13:09 AM |
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I'm holding until there is stability or I can afford to buy that private island in the tropics.
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BitcoinTate
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DigiByte Founder
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April 04, 2013, 02:14:01 AM |
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I'm holding until there is stability or I can afford to buy that private island in the tropics.
+1
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- aka The "DigiMan"
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fr33d0miz3r
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April 04, 2013, 02:18:41 AM |
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I'm preparing a website that will show charts of how many bitcoins in the system are being held unspent and how old are they.
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yvv
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Activity: 1344
Merit: 1000
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April 04, 2013, 02:19:29 AM |
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I'm holding until there is stability or I can afford to buy that private island in the tropics.
How would you convince aborigines chief to give you that island? You show him your paper wallet instead of glass jewelry??
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BitcoinTate
Full Member
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Activity: 224
Merit: 100
DigiByte Founder
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April 04, 2013, 02:21:04 AM |
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I'm holding until there is stability or I can afford to buy that private island in the tropics.
How would you convince aborigines chief to give you that island? You show him your paper wallet instead of glass jewelry?? And he say "hmmm fire kindling"
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- aka The "DigiMan"
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justusranvier
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April 04, 2013, 02:33:13 AM |
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buddhacoiner
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April 04, 2013, 05:39:03 AM |
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i've purchased for the long haul. no brainer for me. even if we crash down to $1 (not happening) i'll hold and six months later they'll be at $500
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Mike Christ
aka snapsunny
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April 04, 2013, 05:47:44 AM |
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That's an alarming amount of cheese lovers on this site.
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wumpus
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April 04, 2013, 06:27:21 AM |
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I plan to hold until Bitcoin is fully adopted as online currency or dead. It's kinda lottery ticket stuff that way, losing never hurts Agreed. Though unlike lottery tickets it's a classical black swan bet, as you can't know the odds, the downside is limited and and the upside is unlimited.
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Bitcoin Core developer [PGP] Warning: For most, coin loss is a larger risk than coin theft. A disk can die any time. Regularly back up your wallet through File → Backup Wallet to an external storage or the (encrypted!) cloud. Use a separate offline wallet for storing larger amounts.
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Wekkel
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Activity: 3108
Merit: 1531
yes
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April 04, 2013, 06:43:32 AM |
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That's an alarming amount of cheese lovers on this site.
Don't worry, I also hired software development and paid in BTC; exactly what BTC is meant for. Fast enough, no hassle, no blockades. Will do it again if needed.
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Peter Lambert (OP)
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April 04, 2013, 02:44:36 PM |
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From a miner perspective, or a bullish market player perspective?
I am not sure I understand your question? This does not really have anything to do with mining, and little to do with the bullish market, it is more of a retrospective look at your previous bitcoin actions. However you got the bitcoins in the past, on average, how long did you hold onto them before you sold them/spent them/lost them?
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Use CoinBR to trade bitcoin stocks: CoinBR.comThe best place for betting with bitcoin: BitBet.us
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