Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[tarmi]

breakout imminent

again? 

[Miz4r]

Are you biatchez super excited now that a miner is about to pull the trigger?

Yeah it's very scary to see a miner about to dump their 0.5 BTC they mined the past month with their 2TH mining rig lol.

[Fatman3001]

Thread retarded again, shit's gonna happen..

smelling incoming pump  

btw. tbh thinking deeper about it, satoshifanclub is kinda right and i took it a step further:

what would happen if tommorow an asteroid hits the earth and kills nearly everything on earth?

no bitcoins, no millionairs and we wouldnt even need community consensus for that to happen....?  

He is right in that it is technically possible, but he underestimates the obstacles to this happening. However, I can imagine a time in the future where the ruling consensus is that Bitcoin needs to start the printing press again because it has grown too big for its 21 million and many decimal points.  But by then Bitcoin has taken off big time and we'll all be dead or millionaires/billionaires.

[Roccker]

What is happening
Did i miss some good news?

A few weeks ago it was like 'it will go down to 120!'

[ChartBuddy]

Coin
Explanation

[adamstgBit]

What is happening
Did i miss some good news?

A few weeks ago it was like 'it will go down to 120!'

Dating Network Badoo Seeking to Expand Bitcoin Payments Globally

finally shroomdude can get a girlfriend, time to rally.

[luckygenough56]

is bitcoin ded ?

[empowering]

Thread retarded again, shit's gonna happen..

smelling incoming pump  

btw. tbh thinking deeper about it, satoshifanclub is kinda right and i took it a step further:

what would happen if tommorow an asteroid hits the earth and kills nearly everything on earth?

no bitcoins, no millionairs and we wouldnt even need community consensus for that to happen....?  

He is right in that it is technically possible,  but he underestimates the obstacles to this happening. However, I can imagine a time in the future where the ruling consensus is that Bitcoin needs to start the printing press again because it has grown too big for its 21 million and many decimal points.  But by then Bitcoin has taken off big time and we'll all be dead or millionaires/billionaires.

Of course he is right on a technical level, (I was just busting his balls and ignoring his point on purpose, because he ignores the point it is not practical in reality) but if this change was to be made, then all that would have to be decided, is what the new name for the new coins would be.

Also I can not see why would it ever need to be done? it would surely only be a psychological thing would it not? it is akin to share dilution

What would the difference be between

21 million coins at $1 dollar each

and 42 million coins at 50 cents each?


What would the difference be of a market cap of  $21,000,000 and  21 million BTC  being valued at $1 each and a $21,000,000 market cap, with 42 million coins being worth $0.50 each ? What difference would there be in purchasing power ?

If there is a need for "twice as many coins" then what would be the difference between  increasing coin supply by x2 and the value of the BTC from doubling?

Say the protocol was changed, and it was decided that there would be x2 more coins from this friday, do you think x2 the money in the system would flow in, or do you think that the assumed value/purchasing power would be cut in half ?

I can see no good, practical reason to raise the amount of coins, say population of planet earth doubles in next 25 years, and everyone uses BTC, then there would not be a shortage, the purchasing power and value of each satoshi would just be valued as more.

The only reason would be a psychological one.


Why would you ever need more?

[Fatman3001]

What is happening
Did i miss some good news?

A few weeks ago it was like 'it will go down to 120!'

Bitcoin hit rock bottom and is doing great at AA.

[SnokkomBTC]

is notlambchop dead ?

ftfy

[hdbuck]

[empowering]

[billyjoeallen]

Do you think Arnie wore underpants in Commando?

[Fatman3001]

Thread retarded again, shit's gonna happen..

smelling incoming pump  

btw. tbh thinking deeper about it, satoshifanclub is kinda right and i took it a step further:

what would happen if tommorow an asteroid hits the earth and kills nearly everything on earth?

no bitcoins, no millionairs and we wouldnt even need community consensus for that to happen....?  

He is right in that it is technically possible,  but he underestimates the obstacles to this happening. However, I can imagine a time in the future where the ruling consensus is that Bitcoin needs to start the printing press again because it has grown too big for its 21 million and many decimal points.  But by then Bitcoin has taken off big time and we'll all be dead or millionaires/billionaires.

Of course he is right on a technical level, (I was just busting his balls and ignoring his point on purpose, because he ignores the point it is not practical in reality) but if this change was to be made, then all that would have to be decided, is what the new name for the new coins would be.

Also I can not see why would it ever need to be done? it would surely only be a psychological thing would it not? it is akin to share dilution

What would the difference be between

21 million coins at $1 dollar each

and 42 million coins at 50 cents each?


What would the difference be of a market cap of  $21,000,000 and  21 million BTC  being valued at $1 each and a $21,000,000 market cap with 42, million coins being worth $0.50 each ? What difference would there be in purchasing power ?

If there is a need for "twice as many coins" then what would be the difference between  increasing coin supply by x2 and the value of the BTC from doubling?

Say the protocol was changed, and it was decided that there would be x2 more coins from this friday, do you think 2 the money in the system would flow in, or do you think that the assumed value/purchasing power would be cut in half ?

I can see no good, practical reason raise the amount of coins, say population of planet earth doubles in next 25 years, and everyone uses BTC, then there would not be a shortage, the purchasing power and value of each satoshi would just be valued as more.

The only reason would be a psychological.





 


Why would you ever need more?

I agree, it would become something else. It would no longer be anti-inflationary. But if it becomes an integrated part of the world economy to such an extent that governments start seeing it as their god given right to fiddle with it, they might decide to introduce inflation as most central banks today would in a strongly deflationary economy. A "healthy" inflation today is considered to be in the 2-3% range. If inflation goes into minus territory this could have as negative consequences for the economy long term as a strongly inflationary economy. I am not saying that it will happen, just that it's a scenario I can sort of imagine happen in the very very long term.

[SnokkomBTC]

go go bulls, we want 300 $ coins 

[podyx]

Well...

[aztecminer]

Are you biatchez super excited now that a miner is about to pull the trigger?

Yeah it's very scary to see a miner about to dump their 0.5 BTC they mined the past month with their 2TH mining rig lol.

i have done pretty well mining. i'm not selling anything....i'm HODLING on all fronts. i just talking the usual trash...sorta.

[ssmc2]

300 comin up

[tarmi]

piggy piggy

[Norway]

1850 CNY broken...