Alright, we roughly doubled before the block reward adjustment.

[ElectricMucus]

Send coins to a new wallet. Again please read up on that issue.

It may be possible to use the total transaction fees as a representative figure some day when BTC is large enough.

[Kupsi]

Send coins to a new wallet. Again please read up on that issue.

That don't increase bitcoin days destroyd. You can send 1 BTC 1,000,000 times a day and it's still 1 bitcoin day destroyd.

[FreeMoney]

How long have you been here? We've done a lot more than double during the 50BTC reward period.

[ElectricMucus]

Send coins to a new wallet. Again please read up on that issue.

That don't increase bitcoin days destroyd. You can send 1 BTC 1,000,000 times a day and it's still 1 bitcoin day destroyd.

Do it with more coins.

How long have you been here? We've done a lot more than double during the 50BTC reward period.

I was referring to the last stable period.

[Kupsi]

Do it with more coins.

That doesn't help in the long run. I think you should read up on this 

[ElectricMucus]

Do it with more coins.

That doesn't help in the long run. I think you should read up on this 

It does matter now.

[FreeMoney]

Send coins to a new wallet. Again please read up on that issue.

That don't increase bitcoin days destroyd. You can send 1 BTC 1,000,000 times a day and it's still 1 bitcoin day destroyd.

Do it with more coins.

How long have you been here? We've done a lot more than double during the 50BTC reward period.

I was referring to the last stable period.

My point is just that no one knows when the pressure of the decreasing reward will have it's effect. It's been known about since the very beginning and in fact the decreasing reward (synonymous with limited number ever issued) is a main reason why anyone holds coins so to a large extent it is baked in since the beginning. If there are many 'unthinking' users who just buy what they need before they go shopping then we'll see a change because of them after the reward halves because they'll just keep buying the same dollar amount into a more limited supply.

So I can't really tell anything useful. I'm just saying that the two sort of effects are 1. Since the beginning. 2. Starting at the halving. And I've seen no reason to specially consider some arbitrary period in the middle.

[Kupsi]

Do it with more coins.

That doesn't help in the long run. I think you should read up on this 

It does matter now.

Bitcoin days destroyd has been increasing for 2.5 years. You can't manipulate that!

[ElectricMucus]

Kupsi compare cumulative and non-cumulative versions, and then please stop posting here.

My point is just that no one knows when the pressure of the decreasing reward will have it's effect. It's been known about since the very beginning and in fact the decreasing reward (synonymous with limited number ever issued) is a main reason why anyone holds coins so to a large extent it is baked in since the beginning. If there are many 'unthinking' users who just buy what they need before they go shopping then we'll see a change because of them after the reward halves because they'll just keep buying the same dollar amount into a more limited supply.

So I can't really tell anything useful. I'm just saying that the two sort of effects are 1. Since the beginning. 2. Starting at the halving. And I've seen no reason to specially consider some arbitrary period in the middle.

Of course that is the case. I've been telling people that the price is more representative for all block reward adjustments already factored in.
People insist on the opposite, hence this thread.

[FreeMoney]

Kupsi compare cumulative and non-cumulative versions, and then please stop posting here.

My point is just that no one knows when the pressure of the decreasing reward will have it's effect. It's been known about since the very beginning and in fact the decreasing reward (synonymous with limited number ever issued) is a main reason why anyone holds coins so to a large extent it is baked in since the beginning. If there are many 'unthinking' users who just buy what they need before they go shopping then we'll see a change because of them after the reward halves because they'll just keep buying the same dollar amount into a more limited supply.

So I can't really tell anything useful. I'm just saying that the two sort of effects are 1. Since the beginning. 2. Starting at the halving. And I've seen no reason to specially consider some arbitrary period in the middle.

Of course that is the case. I've been telling people that the price is more representative for all block reward adjustments already factored in.
People insist on the opposite, hence this thread.

Ah ok.

Like I said I do think there is an element of it that will have an effect only after the drop. And different traders theories will cause them to make extreme moves at various times shortly before and after the drop, but I think the only periods with -real- (in some sense) effects are Always and After The Drop.

[Dargo]

Since the OP demands that we give "fundamental" reasons why the price should go any higher, it seems fair to ask the OP to give "fundamental" reasons why BTC was fairly valued at $5 independently of the reward drop. The only reason given is that price was stable around for $5 for a while, which is a point about price action, not a point about fundamentals.

Another way to put my point is this: maybe price will go higher from here because it was already undervalued at $5 independently of the reward drop. The fact that it was stable for a while at $5 does not show that it was fairly valued at that price on a fundamental basis, or that it would have stayed at that price without the reward drop.

[finkleshnorts]

We are there now, explain to me, why should we go further up?

we shouldn't. I've turned bear.

No arguments about market irrationality, bubbles and so on, just pure fundamental base price.

market is market, irrational or otherwise. Market price is the fundamental base price. There is no magical price underlying bitcoin. I'm not sure what you are demanding here.

[smoothie]

Bulls, you have it, we roughly doubled since we had a stable price for a few months now. I can follow the argument that the halving of the block reward would double the price.

We are there now, explain to me, why should we go further up?
No arguments about market irrationality, bubbles and so on, just pure fundamental base price.

Why does it matter why it went up or down? It's just speculation. Look it up in the dictionary.

[aq]

Its about the inflow of fiat into Bitcoin. pirate was able to counter this for a few months, but in the last 2 month the inflow is too high for him to constantly keep the price at $5. So we ended up around $10. If the inflow stays as high as it was, we will see even higher prices in the months to come.

[Kupsi]

Kupsi compare cumulative and non-cumulative versions, and then please stop posting here.

I can stop posting, but you are wrong

[ElectricMucus]

Bulls, you have it, we roughly doubled since we had a stable price for a few months now. I can follow the argument that the halving of the block reward would double the price.

We are there now, explain to me, why should we go further up?
No arguments about market irrationality, bubbles and so on, just pure fundamental base price.

Why does it matter why it went up or down? It's just speculation. Look it up in the dictionary.

LOL