Bitcoin Forum
December 08, 2016, 08:24:27 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2]  All
  Print  
Author Topic: Who run barter town?  (Read 3727 times)
nster
Full Member
***
Offline Offline

Activity: 126



View Profile
April 07, 2011, 07:10:12 PM
 #21

go for like 1$/BTC to <0.1$/BTC very very quickly.

Great ! Can't wait until that happens. I will be able to buy 100k of bitcoins for almost nothing ! Can you imagine that ?

BTC would have crashed and be worth nothing. Furthermore, it wouldn't be able to come back to where it was before ether because the confidence level would be too low.

167q1CHgVjzLCwQwQvJ3tRMUCrjfqvSznd Donations are welcome Smiley Please be kind if I helped
1481228667
Hero Member
*
Offline Offline

Posts: 1481228667

View Profile Personal Message (Offline)

Ignore
1481228667
Reply with quote  #2

1481228667
Report to moderator
1481228667
Hero Member
*
Offline Offline

Posts: 1481228667

View Profile Personal Message (Offline)

Ignore
1481228667
Reply with quote  #2

1481228667
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
BitterTea
Sr. Member
****
Offline Offline

Activity: 294



View Profile
April 07, 2011, 09:30:13 PM
 #22

BTC would have crashed and be worth nothing. Furthermore, it wouldn't be able to come back to where it was before ether because the confidence level would be too low.

I disagree. If the price of Bitcoins relative to USD falls dramatically, it will quickly be brought back up in price by people buying the now cheap Bitcoins. I don't think the word "crash" is really applicable to a currency, unless you're talking about a fiat one.
nster
Full Member
***
Offline Offline

Activity: 126



View Profile
April 07, 2011, 11:23:38 PM
 #23

BTC would have crashed and be worth nothing. Furthermore, it wouldn't be able to come back to where it was before ether because the confidence level would be too low.

I disagree. If the price of Bitcoins relative to USD falls dramatically, it will quickly be brought back up in price by people buying the now cheap Bitcoins. I don't think the word "crash" is really applicable to a currency, unless you're talking about a fiat one.

S3052 also talked about this. If there were a crash in value, many merchants would leave, many miners would not come back as they do not trust BTC anymore etc etc.

Have you heard Gavin's thing on the talkshow econotalk or wtv? I heard it today and MAN is that interesting. Notice the emphasis on TRUST. Only the "geeks" as he says, would trust BTC and it couldn't get a lift off again by geeks if no non-geek wants to gonear BTC

167q1CHgVjzLCwQwQvJ3tRMUCrjfqvSznd Donations are welcome Smiley Please be kind if I helped
BitterTea
Sr. Member
****
Offline Offline

Activity: 294



View Profile
April 08, 2011, 12:14:56 AM
 #24

If the exchange rate of USD to BTC drops dramatically, unless there if an insurmountable security flaw with or attack on the network, it makes no sense for vendors to flee.

I sell gallons of milk for $2. Yesterday, the exchange rate was 1 BTC = $1. This morning, someone started selling hundreds of thousands of coins, causing the rate to fall to 1 BTC = $0.02. Today, I can sell gallons of milk for 200 BTC, 50 times as many coins.

I have more of an incentive today to sell for BTC, as the potential for future value is inversely proportional to the size of the "crash".
wb3
Member
**
Offline Offline

Activity: 112


^Check Out^ Isle 3


View Profile
April 08, 2011, 12:37:08 AM
 #25

If the exchange rate of USD to BTC drops dramatically, unless there if an insurmountable security flaw with or attack on the network, it makes no sense for vendors to flee.

I sell gallons of milk for $2. Yesterday, the exchange rate was 1 BTC = $1. This morning, someone started selling hundreds of thousands of coins, causing the rate to fall to 1 BTC = $0.02. Today, I can sell gallons of milk for 200 BTC, 50 times as many coins.

I have more of an incentive today to sell for BTC, as the potential for future value is inversely proportional to the size of the "crash".

Technically correct. Unless you have a 100,000 gallons of milk from yesterday that you bought with 2 BTC each. You now reprice them at  200 BTC to maintain there value. However, your customers don't get to take their BTC and conveniently take the 2 BTC in their wallets and change it into 200 BTC.  So now, no one can afford your milk and you make no money.  You have just described Hyper-Inflation. And it hurts vendors and companies hard and fast.  Your best defense is to lower prices to a point they can afford, to offload your product. The best think to do would to keep the Milk at 2 BTC maybe 3 or 4 BTC. And then bail on your next purchase of milk. Basically pass it on to your vendor.

Net Worth = 0.10    Hah, "Net" worth Smiley
nster
Full Member
***
Offline Offline

Activity: 126



View Profile
April 08, 2011, 01:02:03 AM
 #26

If the exchange rate of USD to BTC drops dramatically, unless there if an insurmountable security flaw with or attack on the network, it makes no sense for vendors to flee.

I sell gallons of milk for $2. Yesterday, the exchange rate was 1 BTC = $1. This morning, someone started selling hundreds of thousands of coins, causing the rate to fall to 1 BTC = $0.02. Today, I can sell gallons of milk for 200 BTC, 50 times as many coins.

I have more of an incentive today to sell for BTC, as the potential for future value is inversely proportional to the size of the "crash".

Technically correct. Unless you have a 100,000 gallons of milk from yesterday that you bought with 2 BTC each. You now reprice them at  200 BTC to maintain there value. However, your customers don't get to take their BTC and conveniently take the 2 BTC in their wallets and change it into 200 BTC.  So now, no one can afford your milk and you make no money.  You have just described Hyper-Inflation. And it hurts vendors and companies hard and fast.  Your best defense is to lower prices to a point they can afford, to offload your product. The best think to do would to keep the Milk at 2 BTC maybe 3 or 4 BTC. And then bail on your next purchase of milk. Basically pass it on to your vendor.

or sell in $$ and drop BTC

167q1CHgVjzLCwQwQvJ3tRMUCrjfqvSznd Donations are welcome Smiley Please be kind if I helped
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!