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Author Topic: Not to spread FUD or anything, but here's some food for thought  (Read 3505 times)
mmitech
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September 23, 2014, 11:50:54 AM
 #41

OMG. Imagine what will happen when they dump bitcoins mined for seven consecutive days. And what if they dump all the mined for a whole month?!
Oh no! We are going to $0! Panic mode ON!


I did read your story, and it is really sad what Banks did to you... but with this attitude you will be losing money again but this time it will be because of Bitcoin...go figure. 
oda.krell
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September 23, 2014, 11:57:31 AM
 #42

Quote
Not to spread FUD or anything, but here's some food for thought i'm gonna do it anyway!

There, fixed that for you.

His thread actually started one of the few worthwhile discussions in the last weeks, imo.

LLook in mirror! troll is you!1! /doommeme

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spiderbrain
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September 23, 2014, 11:59:28 AM
 #43

His thread actually started one of the few worthwhile discussions in the last weeks, imo.
+1

NotLambchop
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September 23, 2014, 12:18:18 PM
 #44

...
So the supply of bitcoin is increasing around 14% a year at the moment? If during that time bitcoin adoption grows by 14% the effect should cancel out.
...

It depends on what you mean by "adoption grows by 14%.

If 14% more people learn about Bitcoin this year, and each one bought just one Satoshi, that doesn't do much.  And simply spending 14% more $ doesn't do much either--BTC price has quadrupled since a year ago, so what's needed is (14 x 4)= 56% more fiat.
Oversimplified, but you get the drift.

What I meant is that if the bitcoin economy as a whole grows by 14%, not user adoption counted in individuals.
The point is that as long as we have real growth of over 14% per year you can neglect the additional coins from miners and price comes down to speculation and usefulness and of course more scarcity if we do grow over 14%
...

I think we're saying the same thing, I simply reduced "real growth" (which is difficult to define) to a simple statement:

If the price of bitcoin has doubled over a year, the influx of fiat needs to increase by 28% to negate the 14%, or:

Influx_of_fiattoday = Influx_of_fiatone_year_ago * (Bitcoin_pricetoday / Bitcoin_priceone_year_ago) * 0.14

(or something--coffee's not kicked in yet)
vipgelsi
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September 23, 2014, 12:22:49 PM
 #45

This model in which Chinese buy BTC directly from the miners in order to get $ out of China by dumping on foreign exchanges
is not just bearish, but worrisome for the future recovery. Eventually the Chinese authorities will stop it and seller pressure will lessen.

Seriouse problem here if true.
cryptobuff
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September 23, 2014, 01:53:44 PM
Last edit: September 23, 2014, 02:06:04 PM by cryptobuff
 #46

Non tech savy people(majority of the world) selling bitcoin because short term profit isn’t happening any more. These people didn’t believe in the potential of bitcoin in the first place.

Libertarians and the like(much fewer) holding bitcoin because of their beliefs.

Adoption of bitcoin from people who see its value in decentralization and its unregulated nature is growing, but it is very slow and steady. These types of people don’t care(maybe a little) what the price per bitcoin is, they just care about its ability to be decentralized, inflation proof, etc.

The price is going to keep falling until all the sceptics, non believers, and sheeple sell their stash of bitcoin.

I am a strong beliver in bitcoin but I do think the price is going to keep falling for a while but I also believe it will never go to $0.

THIS IS JUST MY OPINION.
realbtcdealers4real
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September 23, 2014, 02:16:30 PM
 #47

The price is crashing because the common folk (the 99% sees Bitcoin as "some rich people thing"). And they see to much of a hassle to enter Bitcoin, just to do what? You buy Bitcoin with your hard earned FIAT money, go through the hassle of getting accepted in a exchange and what not.. then you get your less than half a BTC (this is what the 99% can buy at best case scenareo)... what the fuck you do with it? How does this improve your life in any shape or form? Let's be real for a second. The only people that has gotten beneficied from BTC have been the guys that own BTC since the early days. The life of the 99%'s will be absolutely the same post Bitcoin. THIS is why the price is tanking. Something cannot live forever off whales.
Unless there is an easier way to make BTC besides risking your FIAT wageslave money, this is going to keep going down.
exocytosis
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September 23, 2014, 02:17:52 PM
 #48

they just care about its ability to be decentralized, inflation proof, etc.


And how, exactly, is Bitcoin "inflation proof", when 3600 new coins are created every day, most of which are dumped onto the market, pushing down the price?

Meanwhile, the hated US dollar is stable and liquid. Indeed, most fiat currencies are stable and liquid (and usable) compared to Bitcoin, which is failing and has reached its twilight years.

IMZ
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September 23, 2014, 02:22:01 PM
 #49

My background is libertarian political theory, and what I really really have enjoyed in my 20 months running along beside The Crypto Thing is the fantastic way the 'landscape' has kept changing. No sooner do you hammer out one hesitant Theory of It All than some upheaval puts it on the scrapheap.

Mark (IndiaMikeZulu), Australia

cryptobuff
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September 23, 2014, 02:24:52 PM
 #50

Sorry. I was a bit confusing. What I meant to say is a fixed and predictable inflation rate. Unlike govts. ability to alter inflation rates. Just think about Zimbabwe's inflation.
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