Abo Adamson
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April 21, 2013, 04:50:02 PM |
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it is popular now ))
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syebotext
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Activity: 14
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April 21, 2013, 05:09:16 PM |
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Why are the bitcoins so expensive?
Does the price of them rising matter with the product bought with them?
I'm sure everyone has pointed out how inexpensive they were when you first made your post. But many products adjust their bitcoin pricing when it goes up. Like if bitcoin doubles in value vs the US dollar, they charge half a Bitcoin for it instead of a full one. |
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bytesnpieces
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April 21, 2013, 05:12:52 PM |
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Yes, Bitcoins are expensive, however, I believe that what is important (in terms of trading and speculating) is their long term potential and % change in value over time, I believe that people are put-off by the idea of not being able to own a whole bitcoin, I would propose denominations on the Satoshi Scale as follows:
10 = 1 Gigoshi
1 = 1 Bitcoin
0.01 = 1 Megoshi
0.00001 = 1 Kiloshi
0.000001 = 1 Hectoshi
0.0000001 = 1 Decoshi
0.00000001= 1 Satoshi
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nebulus
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April 21, 2013, 05:44:22 PM |
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10 = 1 Gigoshi
1 = 1 Bitcoin
0.01 = 1 Megoshi
0.00001 = 1 Kiloshi
0.000001 = 1 Hectoshi
0.0000001 = 1 Decoshi
0.00000001= 1 Satoshi
Suddenly, I feel like I am inside a Nintendo game... |
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DeathAndTaxes
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Gerald Davis
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April 21, 2013, 05:46:34 PM |
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10 = 1 Gigoshi
1 = 1 Bitcoin
0.01 = 1 Megoshi
0.00001 = 1 Kiloshi
0.000001 = 1 Hectoshi
0.0000001 = 1 Decoshi
0.00000001= 1 Satoshi
Suddenly, I feel like I am inside a Nintendo game... which is why I prefer millicoins. I mean at $0.12 per millicoin I can't see how people think they are too expensive* *As if the nominal value really matters. |
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vdek
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April 21, 2013, 06:03:32 PM |
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If you're buying them to spend immediately, then no. Prices are still being determined dynamically in fiat by most merchants. Spend away!
But unfortunately most bitcoin-USD transfers aren't instant unless you have fiat laying around in some exchange. |
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Peter Lambert
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April 21, 2013, 06:06:43 PM |
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Why are the bitcoins so expensive?
Does the price of them rising matter with the product bought with them?
Hundred dollar bills are expensive then too. I don't see anybody complaining about how much they cast, though. |
Use CoinBR to trade bitcoin stocks: CoinBR.comThe best place for betting with bitcoin: BitBet.us |
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jweezy
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April 21, 2013, 06:10:09 PM |
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it's a simple economic explanation with supply and demand, and SPECULATION of course  |
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mugdesign
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http://thebestmug.co.uk - personalised gifts
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April 21, 2013, 06:56:58 PM |
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Why are the bitcoins so expensive?
Does the price of them rising matter with the product bought with them?
prices changing every day depends on for example how many people buy and sell them through the night. Lots of people just sell them when the price is heigh, and buy them when the price is low. and they try to make profit this way. but personally i think it is really worth to keep them. even invest in them, as i believe prices ll go up and up as the real cash more and more inflated. anybody agree? |
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BeeCoin
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April 21, 2013, 07:04:03 PM |
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Currenty, I believe speculative ups & downs are hurting the establishment of BTC as a reasonable alternative for online traders to Paypal etc.
BeeCoin
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torba
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Activity: 100
Merit: 10
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April 21, 2013, 07:13:06 PM |
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They will be much more expensive in the future  |
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