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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Torque (OP)
Legendary
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Activity: 3556
Merit: 5041
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May 11, 2014, 04:06:38 PM
Last edit: May 11, 2014, 04:35:54 PM by Torque |
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HFT is not real volume. Huobi fake volume is fake. Plenty to discuss. |
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blatchcorn
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May 11, 2014, 04:35:51 PM |
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We need to get BTC into India to drive the price up again like 2013
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MatTheCat
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May 11, 2014, 05:17:33 PM |
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We need to get BTC into India to drive the price up again like 2013
Eh? wot is all this we need to get into India to generate another bubble shit!? are you not into Bitcoin for liberty and freedom? Do you not want a nice long term stable price to encourage Bitcoin to be used as the means of transferring wealth around the world quickly and securely, which is what it was always meant to be? Since when was a pro-Bitcoiner's sole interest, creating a great big massive bubble in order to profit from and how does that make Bitcoiner any better or different from the banking sector who seek to induce volatility in markets in order to boost their profit margins at the expense of society at large, whilst generating nothing of value to the rest of humanity? Since when was Bitcoiner's objective in life to be a big dirty fkn parasite? |
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jbrnt
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May 11, 2014, 05:37:45 PM |
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You are correct, China IS not in control of the market, but China WAS a major player in the market for the past 12 months. Even if China is effectively gone, they have brought prices from $200 to $450 now. It not easy to estimate China's influence now. IMO, they have already distributed their trades among other exchanges.
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Torque (OP)
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Merit: 5041
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May 11, 2014, 06:05:53 PM
Last edit: May 11, 2014, 06:59:59 PM by Torque |
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The Beijing Bitcoin Summit underlined just how small their involvement/participation really is at this point. For a country that is *supposedly* doing 12-15X more bitcoin trade volume than the U.S. or any other country combined (if you believe the fake Huobi numbers), only a couple hundred people showed up to their Beijing bitcoin conference. We've easily had 2-3X that many attendees at any ONE of the MANY bitcoin conferences here in the U.S. in just the last year alone. If there were really that many more Chinese bitcoiners than the rest of the world, there should have been at least a few thousand in attendance in Beijing.
I'm beginning to smell rat. China's involvement in bitcoin today is WAY overhyped and overblown. People need to stop thinking that they dominate and control the market, they don't. Not by a long shot.
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BittBurger
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May 11, 2014, 08:38:34 PM |
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only a couple hundred people showed up to their Beijing bitcoin conference. We've easily had 2-3X that many attendees at any ONE of the MANY bitcoin conferences here in the U.S. in just the last year alone. If there were really that many more Chinese bitcoiners than the rest of the world, there should have been at least a few thousand in attendance in Beijing. Probably not smart to compare turnout in Communist China under a government that has named specific people, and warned them not to attend ...... to .... a conference in the USA. Pretty sure attendance would be down significantly if people felt their jobs or livelihoods might be at risk just for showing up. -B- |
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knightcoin
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Activity: 238
Merit: 100
Stand on the shoulders of giants
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May 11, 2014, 08:52:10 PM |
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noop, BTC volume alone does not give us much real economy clues since I don't pay my electricity, I don't receive my salary, I don't pay my tax in BTC and finally I cant buy a bigMac with bitcoins .. I want to see the volume in FIAT ...
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kooke
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Activity: 448
Merit: 250
Bitcoin super-duper-mega-ultra-hyper-node
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May 11, 2014, 11:27:44 PM |
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No one country has been in control of BTC, as it is decentralized. It does appear that China's effect on prices seems to be waning though, but I'd give it several weeks more before proclaiming that we're past this whole banning scenario. |
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Anon136
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Activity: 1722
Merit: 1217
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May 11, 2014, 11:30:25 PM |
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only a couple hundred people showed up to their Beijing bitcoin conference. We've easily had 2-3X that many attendees at any ONE of the MANY bitcoin conferences here in the U.S. in just the last year alone. If there were really that many more Chinese bitcoiners than the rest of the world, there should have been at least a few thousand in attendance in Beijing. Probably not smart to compare turnout in Communist China under a government that has named specific people, and warned them not to attend ...... to .... a conference in the USA. Pretty sure attendance would be down significantly if people felt their jobs or livelihoods might be at risk just for showing up. -B- china is not communist |
Rep Thread: https://bitcointalk.org/index.php?topic=381041If one can not confer upon another a right which he does not himself first possess, by what means does the state derive the right to engage in behaviors from which the public is prohibited? |
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jamesc760
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May 12, 2014, 02:40:49 AM |
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China is ruled by Red Communists, or at least people who profess to be Communists are running their national and local governments. So, yeah, China is a communist state.
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Malin Keshar
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May 12, 2014, 03:01:39 AM |
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only a couple hundred people showed up to their Beijing bitcoin conference. We've easily had 2-3X that many attendees at any ONE of the MANY bitcoin conferences here in the U.S. in just the last year alone. If there were really that many more Chinese bitcoiners than the rest of the world, there should have been at least a few thousand in attendance in Beijing. Probably not smart to compare turnout in Communist China under a government that has named specific people, and warned them not to attend ...... to .... a conference in the USA. Pretty sure attendance would be down significantly if people felt their jobs or livelihoods might be at risk just for showing up. -B- china is not communist communism is about the state controls what people think, what they can do and what they can have, in all aspects. It is not about the state control all economy, since it is impossible, so China is communist. @topic: the numbers are about chinese exchanges, not about chinese buyers and holders. We can't be sure if they moved to others exchanges, if they are stand-by planning the next move, or if they are already in the black market(person to person selling). |
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knightcoin
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Stand on the shoulders of giants
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May 12, 2014, 03:04:16 AM |
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well .. there are 2 or maybe more... china "visions" ... China is not (does not) resumed to the asic miners region producers only ... dahhhh http://www.bbc.co.uk/news/world-asia-china-15916830 ( (29 November 2011 )) |
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Pepin
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May 12, 2014, 04:09:35 AM |
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china is not communist
Whatever you want to call it, China has a very weak rule of law and is governed by an authoritarian regime with a tight stranglehold on the economy, media, and society as a whole. |
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Erdogan
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Merit: 1005
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May 12, 2014, 07:09:01 AM |
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The volume in china is interesting. Maybe it it is the result of the efficiency of the domestic bank transfer system. For bitcoin price, it doesn't matter. It is only the number of users that matter, and how much value each want to hold. Global numbers, that is.
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TrailingComet
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May 12, 2014, 08:57:10 AM |
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Yep, customer adoption which is slowing has to be increased
To that end, innovation is key. Coinbase has a key role to play in North America
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