Author

Topic: BTC Fiat Value & "the Satoshi era" (Read 1172 times)

sr. member
Activity: 448
Merit: 250
this statement is false
February 21, 2013, 07:32:03 PM
#8
There isn't a diminishing supply. Bitcoins are made so that they ever increase in supply.

No.

supplyinflation rate diminishes short-term when block reward halves; increases short-term when network hashing capability is added (when power is added significantly, anyway).  If you meant the TOTAL supply increases as time goes on, then yes, it asymptoticly approaches 21 million.  But approaching an asymptote implies decreased acceleration.  So any implied acceleration in your statement of "increase in supply" should be quickly quashed.

FTFY

the supply of bitcoin is increasing at an asymptotically decreasing rate.
hero member
Activity: 686
Merit: 500
Shame on everything; regret nothing.
February 21, 2013, 03:44:13 PM
#7
There isn't a diminishing supply. Bitcoins are made so that they ever increase in supply.

No.

Supply diminishes short-term when block reward halves; increases short-term when network hashing capability is added (when power is added significantly, anyway).  If you meant the TOTAL supply increases as time goes on, then yes, it asymptoticly approaches 21 million.  But approaching an asymptote implies decreased acceleration.  So any implied acceleration in your statement of "increase in supply" should be quickly quashed.
newbie
Activity: 10
Merit: 0
February 21, 2013, 01:58:58 PM
#6
There isn't a diminishing supply. Bitcoins are made so that they ever increase in supply.
legendary
Activity: 2576
Merit: 2267
1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
February 21, 2013, 01:05:44 PM
#5
Satoshi <3 Streisand.
newbie
Activity: 40
Merit: 0
February 21, 2013, 08:01:27 AM
#4
The Technological Satoshi era is here  Cheesy

The Satoshularity?  Grin
hero member
Activity: 826
Merit: 500
Crypto Somnium
February 21, 2013, 07:44:55 AM
#3
The Technological Satoshi era is here  Cheesy
legendary
Activity: 2506
Merit: 1010
February 21, 2013, 06:24:20 AM
#2
increasing production cost,

Increasing production costs might actually cause greater supply to be sent to market as miners need to sell more coins to pay for those higher costs.
jr. member
Activity: 45
Merit: 10
February 21, 2013, 04:07:28 AM
#1
Dear fellow Bitcoin Sirs-- I'm sure this thread is like beating a dead horse with a stick, but I'll do it anyways...

I just don't see any reasons for bitcoin to drop in fiat value in the long term.  Diminishing supply, increasing production cost, current trend of notable vendor adoption (albeit in 'techie' circles for now) / increased demand. 

The 'network effect' could be difficult to estinguish at this point-- explicity outlawing BTC might serve to only amplify it. 

I think we're moving away from all our bit-eggs being in one Silk Road basket, if you will.

I patiently await the Satoshi era.
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