BTC Beginning of the End !

[knightcoin]

What if those "47 Ronis" already had spread their wealth on another beta-coin ?  

[T.Stuart]

So, Risto says that 47 people control 3.5M of the 12.1M coins.  3.5M / 12.1M *100% = 29%.  These are the "47 powers" that control 29% of the BTC that Williams stated "collaborated to push up the prices to where they are today."  

Risto says that 47 + 880 = 927 people control 3.5M + 2.6M = 6.1M.  And 6.1M / 12.1M = 50%.  And the newspaper article above states that 930 people control 50% of all the coins.  Coincidence?  Obviously not.  

So, we can clearly conclude two things:

1.  Risto's deductive reasoning is literally amazing.  He was able to essentially guess the exact wealth distribution of bitcoin which has now been verified by multiple independent sources.  

2.  Prof Williams used advanced methodology from the Science of Economics, and sources including Forbes, to independently come up with precisely the same top-heavy distribution.  Using this same methodology, he was also able to show that exactly 47 people colluded to push up the price.

3.  We have confirmation that we indeed have confirmed the precise wealth distribution on an individual-by-individual basis in bitcoin. This is obviously the beginning of the end of bitcoin.  

You're pushing the boat out a bit there aren't you? So where is your proof of this collaborative effort? I strongly doubt such collaboration but if you have any direct evidence carry on.

I've thought about the wealth distribution. If Bitcoin were only a currency then it wouldn't make sense, agreed. But Bitcoin is not only a currency at all. It is also a payment network, which is inseparable from the currency. In some ways a Bitcoin is also a share, as if the Bitcoin network was a company (digital payments platform). It is not unusual for the founders of a company to hold many more shares than those who buy in at IPO for example. This is perfectly normal.

This way of assessing the situation is certainly more accurate than simply arguing about wealth distribution as if Bitcoin were fiat currency.

[Peter R]

So, Risto says that 47 people control 3.5M of the 12.1M coins.  3.5M / 12.1M *100% = 29%.  These are the "47 powers" that control 29% of the BTC that Williams stated "collaborated to push up the prices to where they are today."  

Risto says that 47 + 880 = 927 people control 3.5M + 2.6M = 6.1M.  And 6.1M / 12.1M = 50%.  And the newspaper article above states that 930 people control 50% of all the coins.  Coincidence?  Obviously not.  

So, we can clearly conclude two things:

1.  Risto's deductive reasoning is literally amazing.  He was able to essentially guess the exact wealth distribution of bitcoin which has now been verified by multiple independent sources.  

2.  Prof Williams used advanced methodology from the Science of Economics, and sources including Forbes, to independently come up with precisely the same top-heavy distribution.  Using this same methodology, he was also able to show that exactly 47 people colluded to push up the price.

3.  We have confirmation that we indeed have confirmed the precise wealth distribution on an individual-by-individual basis in bitcoin. This is obviously the beginning of the end of bitcoin.  

You're pushing the boat out a bit there aren't you? So where is your proof of this collaborative effort? I strongly doubt such collaboration but if you have any direct evidence carry on.

I've thought about the wealth distribution. If Bitcoin were only a currency then it wouldn't make sense, agreed. But Bitcoin is not only a currency at all. It is also a payment network, which is inseparable from the currency. In some ways a Bitcoin is also a share, as if the Bitcoin network was a company (digital payments platform). It is not unusual for the founders of a company to hold many more shares than those who buy in at IPO for example. This is perfectly normal.

This way of assessing the situation is certainly more accurate than simply arguing about wealth distribution as if Bitcoin were fiat currency.

I'll re-enter normal 'Peter R' mode because we are not in the 'Confirmed Bad News Thread' (where I reserve the right to unleash my inner troll).  My post you quoted (https://bitcointalk.org/index.php?topic=420005.msg4606471#msg4606471) was just another parody on bitcoin FUD and our reliance on "experts" and pseudo "confirmation."

Someone from the MSM read Risto's original thread here (https://bitcointalk.org/index.php?topic=316297), and published an article that implied these wealth distribution estimates were "facts."  Then more and more people started assuming they were indeed facts since it was "confirmed" by the MSM.  And now we have "professors" like Dr. Williams seemingly "reconfirming" what were essentially "guesses" by some random guy from an internet forum, and then adding things like "these 47 people colluded to push up the price."

After I embraced my inner troll (thanks to Proudhon) a couple of days ago, it's really opened my eyes to the extent of misinformation everywhere.  Even people in prestigous positions parrot the latest FUD without ever checking the original source.  

[harlenadler]

After I embraced my inner troll (thanks to Proudhon) a couple of days ago, it's really opened my eyes to the extent of misinformation everywhere.  Even people in prestigous positions parrot the latest FUD without ever checking the original source.  

misinformation is one thing. what i have noticed is that people very much overemphasize the importance of FUD. everyone gets their panties in a bunch about it without ever considering that news/FUD are not the only determining factors on price, and may not be important at all.

[DoomDumas]

I kept mining at an unprofitable ratio, back in the days when BTC were exchanged around 2 U$...
As beleving in a 10 000 + U$ ill keep mining forever

[igorr]

Welcome to the new difficulty and new mining factor  

View Screen Capture

View Screen Capture

And MtGox exchange loses credibility,and has the lowest trading vulume.
(btce, bitstamp and bitfinex have the larger volume than MtGox)

View Screen Capture

[jubalix]

this is why PeerCoin or nxt can skyrocket, mining tax not there.

[igorr]

BTC quickly losing popularity, and now we have mining factor 14.6 cents per GH at 24h

View Screen Capture

View Screen Capture

[igorr]

Welcome to new dificulty 3.12 bilion and new mining factor 9 cents/Gh at 24h  

View Screen Capture


View Screen Capture

[Solarstorm75]

This chart says all: https://blockchain.info/de/charts/miners-operating-profit-margin

[fonzie]

This chart says all: https://blockchain.info/de/charts/miners-operating-profit-margin

 

[podyx]

So is this a problem??

or just dumb FUD?

[igorr]

Or this chart says all;

View Screen Capture

[fonzie]

So is this a problem??

or just dumb FUD?

Stop spreading FUD! Of course it´s a problem!

[podyx]

So is this a problem??

or just dumb FUD?

Stop spreading FUD! Of course it´s a problem!

I find it hard to believe that this hasn't been calculated before

[NanoAkron]

We're going to see 1 of 2 outcomes:

1. Everyone quits except for massive mining outfits, leaving the system more centralised and less democratic.

2. Everyone quits including massive mining outfits, difficulty falls and more people start mining, making the system more democratic.

[igorr]

Difficulty falls but the bitcoin price also hard falls, and again mining not profitable.

[windjc]

Difficulty falls but the bitcoin price also hard falls, and again mining not profitable.

Who gives a flying fuck if, even if you were right - which you cannot prove because your numbers are assumptions at best - so what? - miners arent profitable for a few days or weeks or months. Guess what? - Its a fucking business and businesses aren't profitable all the time. And its not like miners are just going to stop mining - better to make less bitcoin than none at all.

You are just a stupid troll and pretty incompetent as far as trolls go anyway.

[fonzie]

Don´t worry about him igorr , he invested to much in Bitcoin and is now very angry cause it doesn´t work out. Please keep up the good work igorr, never mind the haters.

[igorr]

Difficulty falls but the bitcoin price also hard falls, and again mining not profitable.

Who gives a flying fuck if, even if you were right - which you cannot prove because your numbers are assumptions at best - so what? - miners arent profitable for a few days or weeks or months. Guess what? - Its a fucking business and businesses aren't profitable all the time. And its not like miners are just going to stop mining - better to make less bitcoin than none at all.

You are just a stupid troll and pretty incompetent as far as trolls go anyway.

Please return to real technical and fundamental analysis.

stupid people always lose, are you one of them?