Bitcoin crashes when those investing realise 2 things

[Tirapon]

@oda.krell

You are obviously quite smart, I don't think any of the 'idiot' comments were directed at you.

[Siegfried]

you are right, because all stupid people thinking like OP will think it will divide value of Bitcoin, if they are enough, this will happen.

and guess what, a lot of people bring this argument to me when I discuss about bitcoin IRL, and not so stupid people. I have to bring the pie lots of times.

and I pretty agree the market have a lot of irrational influence  

People so stupid will be late adopters and so will not be able to acquire enough bitcoins to significantly damage the value if they then decide to panic sell when smaller units start to be used.

[eclipse81]

wow this thread has been great....read  a few pages earlier in the day,got some laughs.Decided to check it later got some more laughs.The only thing I can think of is that the op is either

A.Troll

B.A bear who sold early and possibly dissuaded others from investing and is now trying to justify those positions

C.Incapable of understanding even the most basic concepts of mathematics

D.An Idiot

E.All of the above



Maybe he thinks they are like diamonds-wherein often 10 1/10th carat diamonds are not worth the same as one 1 carat diamond of the dame quality....Either way it frightens me people like this exist and can operate a computer.

[BittBurger]

I've noticed one very common trait among trolls:

They never get riled up.  They never get emotionally involved.  They never act irritated when 45 people don't see their point.

They just calmly keep typing shit that drives everyone else crazy.

They do this because they are doing it on purpose.  To get a rise out of others.

They aren't emotionally or intellectually vested in what they are saying at all.

revans fits this description.

[smoothie]

I honestly think the OP is Peter Schiff. I could be wrong, but it sure sounds like him.

[hieroglyph]

The second I finished reading the OP I laughed to myself.  How can someone make such illogical claims is beyond me but I'm glad to see people are on the same page and aren't agreeing with such insane logic.  the fact the BTC is easily divisible is a plus...
I mean c'mon man!

[DeathAndTaxes]

Your late to the party.  The resident troll tired of this (reason #287 on why Bitcoin will fail) and is now on to the next reason.  Generally speaking a short attention span so you got to be quick.

[hieroglyph]

Your late to the party.  The resident troll tired of this (reason #287 on why Bitcoin will fail) and is now on to the next reason.  Generally speaking a short attention span so you got to be quick.

haha yeah, I find I'm doing a hole lot of catching up on the boards these days and in general.  but it seems the more things change the more things stay the same especially when trolling is involved.   

[rampantparanoia]

Knowing that a dollar bill can be divided into 100 pennies does not change my opinion of dollars.

And what if it was decided one day that it could be divided into 1000?

Really dude? I mean, really? I can't get my $1 chicken sandwich for 1000 of whatever those units are of my dollar? That's bullshit.

[trepper]

Divisibility doesn't reduce anyone's holdings. Control of 1 BTC is currently control off 100m satoshis. Increase divisibility by a million, and that same 1 BTC represents control of 100 trillion satoshis. It's all about percentages.

You may be right about divisibility, but you don't adress another issue: if the transaction fee remains at its actual value, bitcoin transaction will become more and more expensive (Paypal could become cheaper, for example)...

[trepper]

The "a" has been corrected, but the issue remains

[fiddelingones]

Divisibility doesn't reduce anyone's holdings. Control of 1 BTC is currently control off 100m satoshis. Increase divisibility by a million, and that same 1 BTC represents control of 100 trillion satoshis. It's all about percentages.

You may be right about divisibility, but you don't adress another issue: if the transaction fee remains at its actual value, bitcoin transaction will become more and more expensive (Paypal could become cheaper, for example)...

The transaction fee is adjusted as the price increases

0.01 -> 0.0005 -> 0.0001

[coinpr0n]

Divisibility doesn't reduce anyone's holdings. Control of 1 BTC is currently control off 100m satoshis. Increase divisibility by a million, and that same 1 BTC represents control of 100 trillion satoshis. It's all about percentages.

You may be right about divisibility, but you don't adress another issue: if the transaction fee remains at its actual value, bitcoin transaction will become more and more expensive (Paypal could become cheaper, for example)...

The transaction fee is adjusted as the price increases

0.01 -> 0.0005 -> 0.0001

I'd hope so. Or maybe by then off-chain transactions could do the trick.

[Kluge]

Knowing that a dollar bill can be divided into 100 pennies does not change my opinion of dollars.

And what if it was decided one day that it could be divided into 1000?

Really dude? I mean, really? I can't get my $1 chicken sandwich for 1000 of whatever those units are of my dollar? That's bullshit.

Actually... that argument would have merit. Coins aren't legal tender, and it's considered rude as fuck to pay for something in pennies (if the store will even tolerate it).

If there were sub-pennies, which'd be utterly worthless by any definition (really, a penny is worthless), and you tried using them to pay for something, a cashier would probably throw the coins in your face. It costs the store more money to have the cashier wait for you to count, and then to double-check than the profit from the transaction is worth.

Bitcoin kind of has this problem, in a way. In calculating fees, 1BTC is way more valuable than a hundred-million satoshis, which I don't think would even be spendable. Because of the cost to store that shit in the blockchain, it will probably never be spendable unless a bitcoin costs something like $1B each. In a way, bitcoins become less fundamentally valuable as they increase in price, because your average transaction amount is going to decrease, while fees for smaller transactions is more harsh than with larger transactions (or at the least, static). We need more scalability solutions in place (even if it is just a bunch of universities hosting the full blockchain as a public service in exchange for donations) before Bitcoin starts increasing the number of digits after the radix point and decreasing fees.

[DeathAndTaxes]

I'd hope so. Or maybe by then off-chain transactions could do the trick.

What do you mean you "hope so" he is telling you what has ALREADY happened.

Tx fees have already been reduced from 10 mBTC to 1 mBTC to 0.5mBTC to 0.1mBTC just in the last four years.