Official CryptoCurrency Thread (Bitcoin, Litecoin, Ethereum & More)

[Domingo Halliburton]

Any argument that it is going to crash to zero, or single digits or even double digits just doesn't make any sense when you consider the big picture. all the "crash" posts seem to reason that price will go down because price has been going down. They assume a zero demand scenario, which is way more outlandish than assuming btc will go mainstream. If you have nonzero demand then evey halving if price means your going to see twice the demand. This kind of exponential increase in buying pressure will ultimately halt any sell off of an asset with limited supply.

Sure we could go half off, maybe even half off again, but the lower we go the more resistance there is because for x dollar amount you have to sell more btc. Totally simple, totally obvious to probably everyone reading this, but it is the massive gorilla in the room whenever you read any Bitcoin to the gutter post.

Ah, but Bitcoin to the moon posts are the same but in reverse!

No. There is only ~14m bitcoin, selling supply dries up quickly, on upticks there is infinite dollars. Buying supply can theoretically never dry up.

the main problem I see with bitcoin (and I've said this in this thread before) is their fixed supply.

 

[heisenburrr]

the main problem I see with bitcoin (and I've said this in this thread before) is their fixed supply.

Please explain how that is a problem?

 

[TRFG]

the main problem I see with bitcoin (and I've said this in this thread before) is their fixed supply.

There's no need for more coins right now. There's already an abundance in circulation as we speak.

 

[Domingo Halliburton]

There's no need for more coins right now. There's already an abundance in circulation as we speak.

Please explain how that is a problem?

when a dollar gets destroyed it gets replaced. so the basic number of dollars circulating around the world is basically the same.

isn't there only going to be 21 million bitcoins to be mined?

so when bitcoins are destroyed (virus, hard drive was destroyed, whatever) there are no bitcoins to replace it. so eventually you'll have people running out of the currency.

 

[TRFG]

when a dollar gets destroyed it gets replaced. so the basic number of dollars circulating around the world is basically the same.

isn't there only going to be 21 million bitcoins to be mined?

so when bitcoins are destroyed (virus, hard drive was destroyed, whatever) there are no bitcoins to replace it. so eventually you'll have people running out of the currency.

unlike fiat, bitcoins are fractionally. So 1 btc, 0.1 btc or even .0000001 btc can hold value. If all currencies had a fixed supply We wouldn't be in half the mess we are in today. Don't even let me get started on inflation.

 

[Kritic]

the main problem I see with bitcoin (and I've said this in this thread before) is their fixed supply.

what do you feel about the goldman sachs and fed reserves/central banks of other countries printing money to buy elections...

and what do you think about whistleblowers

 

[Domingo Halliburton]

what do you feel about the goldman sachs and fed reserves/central banks of other countries printing money to buy elections elections...

and what do you think about whistleblowers

I have no problems with whistle blowers.

as far as campaign finance I wish they would take the money out of politics....but we both know that's not happening.

 

[Kritic]

I have no problems with whistle blowers.

as far as campaign finance I wish they would take the money out of politics....but we both know that's not happening.

with bitcoins it's a few steps to it happening...


banks won't be in charge

 

[Kritic]

my mans domingo is that slave who's being offered freedom but wants to go back to the plantation cause that's all he knows...

 

[heisenburrr]

when a dollar gets destroyed it gets replaced. so the basic number of dollars circulating around the world is basically the same.

isn't there only going to be 21 million bitcoins to be mined?

so when bitcoins are destroyed (virus, hard drive was destroyed, whatever) there are no bitcoins to replace it. so eventually you'll have people running out of the currency.

I think I told you once that the Bitcoin economy could run on 1 bitcoin.

Suggesting that every single private key will be lost or compromised is patently ridiculous. Especially with the advent of multi-signature storage.

There are a number of ways to back-up your private keys and a lot of them are not digital.

 

[heisenburrr]

I have no problems with whistle blowers.

as far as campaign finance I wish they would take the money out of politics....but we both know that's not happening.

Moreover, the supply of Bitcoins will continue to grow until the last one is mined, in around 2140.

 

[Kritic]

101 years a slave of the federal reserve.

domingo contemplating life without his banking buddies taxing him high fees.

 

[无名的]

Heisenburr has me rooting for Bitcoin to fail

 

[heisenburrr]

Heisenburr has me rooting for Bitcoin to fail

"First they ignore you, then they mock you, then they fight, then you win"

 

[Mook]

Heisenburr has me rooting for Bitcoin to fail

its clearly failing. it went from 600 to 360 in like 3 months