Topic: Bitcoin's problem is the low rate of new coins - page 3. (Read 4285 times)
The Bitcoin community of active miners is larger than the staff of Google, yet their stock is valued over $600. That hardly seems fair that we have to pay so much for something issued by so few people.
The rate of new coins is a known number. The whole world can plan and factor that into their calculations. It's really not hard - supply versus greed, demand versus panic. Besides, it's only a few years old... improving every day... And what have YOU done to contribute to improvements?
Even if one bitcoin per day were produced it would be enough. We would simply be using amounts like BTC0.000024. It is not a dollar bill.
You are missing my point: First all bitcoins are produced (by one guy - or a few thousands, does not matter) then, the rest of the world are invited to come and buy their coins.
Life cycle of a Bitcoiner:
Hear about Bitcoin. Look into it, decide not to get in. Too risky.
Several months pass.
Hear about Bitcoin again, see how much the price has risen.
Buy a few coins, so as to not be left out.
Bitch about "early adopters" and how they "have all the coins."
"Early adopters" tell you to quit whining.
Tell friends about Bitcoin. They decide not to get in. Too risky.
Several months pass.
New users flood in, and start posting threads bitching about "early adopters" and how they "have all the coins."
Tell new users to quit whining about "early adopters".
Realize that you are now an "early adopter."
You left out the part where you you assume you've discovered a fatal flaw that nobody in the entire history of the project has ever thought of before, so you start a new thread on the forum to announce your finding without bothering to perform a cursory search to see if there aren't already over 9000 threads and 42 wiki articles already talking about it.Hear about Bitcoin. Look into it, decide not to get in. Too risky.
Several months pass.
Hear about Bitcoin again, see how much the price has risen.
Buy a few coins, so as to not be left out.
Bitch about "early adopters" and how they "have all the coins."
"Early adopters" tell you to quit whining.
Tell friends about Bitcoin. They decide not to get in. Too risky.
Several months pass.
New users flood in, and start posting threads bitching about "early adopters" and how they "have all the coins."
Tell new users to quit whining about "early adopters".
Realize that you are now an "early adopter."
Life cycle of a Bitcoiner:
Hear about Bitcoin. Look into it, decide not to get in. Too risky.
Several months pass.
Hear about Bitcoin again, see how much the price has risen.
Buy a few coins, so as to not be left out.
Bitch about "early adopters" and how they "have all the coins."
"Early adopters" tell you to quit whining.
Tell friends about Bitcoin. They decide not to get in. Too risky.
Several months pass.
New users flood in, and start posting threads bitching about "early adopters" and how they "have all the coins."
Tell new users to quit whining about "early adopters".
Realize that you are now an "early adopter."
Hear about Bitcoin. Look into it, decide not to get in. Too risky.
Several months pass.
Hear about Bitcoin again, see how much the price has risen.
Buy a few coins, so as to not be left out.
Bitch about "early adopters" and how they "have all the coins."
"Early adopters" tell you to quit whining.
Tell friends about Bitcoin. They decide not to get in. Too risky.
Several months pass.
New users flood in, and start posting threads bitching about "early adopters" and how they "have all the coins."
Tell new users to quit whining about "early adopters".
Realize that you are now an "early adopter."
So true and really irritating.
Life cycle of a Bitcoiner:
Hear about Bitcoin. Look into it, decide not to get in. Too risky.
Several months pass.
Hear about Bitcoin again, see how much the price has risen.
Buy a few coins, so as to not be left out.
Bitch about "early adopters" and how they "have all the coins."
"Early adopters" tell you to quit whining.
Tell friends about Bitcoin. They decide not to get in. Too risky.
Several months pass.
New users flood in, and start posting threads bitching about "early adopters" and how they "have all the coins."
Tell new users to quit whining about "early adopters".
Realize that you are now an "early adopter."
You left out the part where you you assume you've discovered a fatal flaw that nobody in the entire history of the project has ever thought of before, so you start a new thread on the forum to announce your finding without bothering to perform a cursory search to see if there aren't already over 9000 threads and 42 wiki articles already talking about it. Hear about Bitcoin. Look into it, decide not to get in. Too risky.
Several months pass.
Hear about Bitcoin again, see how much the price has risen.
Buy a few coins, so as to not be left out.
Bitch about "early adopters" and how they "have all the coins."
"Early adopters" tell you to quit whining.
Tell friends about Bitcoin. They decide not to get in. Too risky.
Several months pass.
New users flood in, and start posting threads bitching about "early adopters" and how they "have all the coins."
Tell new users to quit whining about "early adopters".
Realize that you are now an "early adopter."
Life cycle of a Bitcoiner:
Hear about Bitcoin. Look into it, decide not to get in. Too risky.
Several months pass.
Hear about Bitcoin again, see how much the price has risen.
Buy a few coins, so as to not be left out.
Bitch about "early adopters" and how they "have all the coins."
"Early adopters" tell you to quit whining.
Tell friends about Bitcoin. They decide not to get in. Too risky.
Several months pass.
New users flood in, and start posting threads bitching about "early adopters" and how they "have all the coins."
Tell new users to quit whining about "early adopters".
Realize that you are now an "early adopter."
Hear about Bitcoin. Look into it, decide not to get in. Too risky.
Several months pass.
Hear about Bitcoin again, see how much the price has risen.
Buy a few coins, so as to not be left out.
Bitch about "early adopters" and how they "have all the coins."
"Early adopters" tell you to quit whining.
Tell friends about Bitcoin. They decide not to get in. Too risky.
Several months pass.
New users flood in, and start posting threads bitching about "early adopters" and how they "have all the coins."
Tell new users to quit whining about "early adopters".
Realize that you are now an "early adopter."
+1000 Really big knowledge in this words.
Life cycle of a Bitcoiner:
Hear about Bitcoin. Look into it, decide not to get in. Too risky.
Several months pass.
Hear about Bitcoin again, see how much the price has risen.
Buy a few coins, so as to not be left out.
Bitch about "early adopters" and how they "have all the coins."
"Early adopters" tell you to quit whining.
Post new thread about "fatal flaw" in Bitcoin.
Get told that "fatal flaw" is feature, not bug, get pointed to 9000 other threads where same "flaw" is discussed.
Tell friends about Bitcoin. They decide not to get in. Too risky.
Several months pass.
New users flood in, and start posting threads bitching about "early adopters" and how they "have all the coins."
Tell new users to quit whining about "early adopters".
Realize that you are now an "early adopter."
Hear about Bitcoin. Look into it, decide not to get in. Too risky.
Several months pass.
Hear about Bitcoin again, see how much the price has risen.
Buy a few coins, so as to not be left out.
Bitch about "early adopters" and how they "have all the coins."
"Early adopters" tell you to quit whining.
Post new thread about "fatal flaw" in Bitcoin.
Get told that "fatal flaw" is feature, not bug, get pointed to 9000 other threads where same "flaw" is discussed.
Tell friends about Bitcoin. They decide not to get in. Too risky.
Several months pass.
New users flood in, and start posting threads bitching about "early adopters" and how they "have all the coins."
Tell new users to quit whining about "early adopters".
Realize that you are now an "early adopter."
To OP: isn't it fair that early adopters own more of the bitcoin wealth just because they had to endure more risk for more time than others? Not to mention mocking and outright accusations of crimes!!! 
Even if one bitcoin per day were produced it would be enough. We would simply be using amounts like BTC0.000024. It is not a dollar bill.
You are missing my point: First all bitcoins are produced (by one guy - or a few thousands, does not matter) then, the rest of the world are invited to come and buy their coins.
People were being invited the whole time but being laughed at for it being a joke or pyramid scheme. First come, first serve is the fairest way to initially distribute an experimental currency. Just get some to try it out as currency.
Even if one bitcoin per day were produced it would be enough. We would simply be using amounts like BTC0.000024. It is not a dollar bill.
You are missing my point: First all bitcoins are produced (by one guy - or a few thousands, does not matter) then, the rest of the world are invited to come and buy their coins.
When I was born, somebody else had all the money too.
25 BTC * 144 = 3600 BTC per day (or more) that are created. We are printing half a million dollars worth of Bitcoin a day, which would be inflation if it wasn't for more value and interest than that coming into the Bitcoin economy.
25 BTC * 144 = 3600 BTC per day (or more) that are created. We are printing half a million dollars worth of Bitcoin a day, which would be inflation if it wasn't for more value and interest than that coming into the Bitcoin economy.
Even if one bitcoin per day were produced it would be enough. We would simply be using amounts like BTC0.000024. It is not a dollar bill.
Bitcoin got real public attention in early March. At that point 11 million coins were produced by a very small community.
Since then only 7000 new coins has been created, or a 0.06% of the total supply. But the people interested in bitcoin have increased probably by thousands or even millions. So the only way for bitcoins to get massive adaptation is by sell-off from a small community that was in early. In other words, a small number of people is in charge of the money supply. I don’t think this is a good starting point for bitcoin to obtain broad adaptation.
Since then only 7000 new coins has been created, or a 0.06% of the total supply. But the people interested in bitcoin have increased probably by thousands or even millions. So the only way for bitcoins to get massive adaptation is by sell-off from a small community that was in early. In other words, a small number of people is in charge of the money supply. I don’t think this is a good starting point for bitcoin to obtain broad adaptation.
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