11–20 of 116 posts
I sold at $22 thinking the bubble was going to burst soon. Damnit. There's an understanding that a few big players have a lot of the total amount of bitcoins in circulation. This price must be extremely tempting for them to sell at. That could cause a crash like last time. I would be careful of buying at the current price.
~$1.25 billion spend on Cyber Monday ~$8 billion are traded for oil every day ~$150 billion NYSE daily
If bitcoin became the trusted currency for any of these activities what would it be worth?
If bitcoin became the global currency we all get 0.003 each, making the upper limit on a bitcoin around $1->2m depending on inflation.
Of course wars will be fought before bitcoin becomes a global currency. I'm also not sure that people really want an inflation proof currency. But it is fun to speculate.
Number of bitcoin transactions go from 40,000 to 57,000 per day in 2 months. And from 6,000 to 57,000 in 1 year: http://blockchain.info/charts/n-transactions
The trade vs transaction volume remains relatively stable: http://blockchain.info/charts/tx-trade-ratio (Lower the number = fewer people hoarding.)
If it ever becomes successful, we will marvel that individuals could ever afford a bitcoin. 21 million is a tiny number for a currency when compared to $40 trillion in global currency ($6000 per person). ~$1.25 billion spend on Cyber Monday ~$8 billion are traded for oil every day ~$150 billion NYSE daily If bitcoin became the trusted currency for any of these activities what would it be worth? If bitcoin became the…
In the long run, Bitcoin's price will be positively correlated with adoption.[1]
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[1] My thoughts on this haven't changed over the past two years: http://cs702.wordpress.com/2011/05/29/on-the-potential-adopt...
If it ever becomes successful, we will marvel that individuals could ever afford a bitcoin. 21 million is a tiny number for a currency when compared to $40 trillion in global currency ($6000 per person). ~$1.25 billion spend on Cyber Monday ~$8 billion are traded for oil every day ~$150 billion NYSE daily If bitcoin became the trusted currency for any of these activities what would it be worth? If bitcoin became the…
I sold at $22 thinking the bubble was going to burst soon. Damnit. There's an understanding that a few big players have a lot of the total amount of bitcoins in circulation. This price must be extremely tempting for them to sell at. That could cause a crash like last time. I would be careful of buying at the current price.
There's also a lot of early bitcoin that has been lost entirely, which probably skews the market a little bit.
I wonder just how many bitcoins have been permanently lost already.
I sold at $22 thinking the bubble was going to burst soon. Damnit. There's an understanding that a few big players have a lot of the total amount of bitcoins in circulation. This price must be extremely tempting for them to sell at. That could cause a crash like last time. I would be careful of buying at the current price.
I do wonder from whom I stole though; these socks cost labor but I did pay the laborer. Then the price rose and I got an equal amount of euros back as I put in. Who did I steal from, the Bitcoin community in general?
Earlier quoted context omitted.
There's also a lot of early bitcoin that has been lost entirely, which probably skews the market a little bit.
I feel like I should go on my old laptop and dig up my ~0.5 bitcoins. I wonder just how many bitcoins have been permanently lost already.
I expect a correction soon, as It happened last year. I wouldnt invest now any dollar.