I will increase my %-possesion of the bitcoin ledger every day

Possum577

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Loose lips sink sigs!

Quote from: wasserman99 on September 06, 2014, 05:47:44 PM

Quote from: Wexlike on September 04, 2014, 06:40:07 PM

Uhm that is just wrong. The network grows on its own with an increase of 0.027% (3600 btc per day).

As an example, someone has 100 bitcoins. If he wants to keep his percentage of the network equal, he has to buy 0.027% of his stake per day. That equals to 0.027 bitcoins per day.

If you would buy all of the 3600 coins, ofcourse your percentage would rise much higher. But i am talking about the percentage of your current holdings compared to the overall network.

Please, think again about the numbers. You missed the point.

edit: at one point in time i will reach with my 10$ buys per day an equilibrium with my current holdings. After that point, i have to steadily increase my buys per 0.027% per day until the next halving. Regarding the price doesn't change. Tongue

I see your point. My mistake. If you had $10 worth of bitcoin on Monday and then on Tuesday bought another $10 worth of bitcoin then your percentage of the total bitcoin that have been mined (are available) would increase by ~99.97%.

With that being said it would still really not be possible for you to become a whale because you would eventually get to own too much bitcoin for $10 to make a big difference of your total holdings anymore.

Wex "would not become a whale" because he's only maintaining his current share of the network and he's implying that his current share would not make him a whale. He's only talking about what percentage he needs to buy daily to maintain his percentage of all BTC available. If he or you are defining whale in terms of number of BTC or dollars worth owned, then percentage of the network doesn't matter.

snappa4ever

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Quote from: arbitrage001 on September 07, 2014, 08:06:05 PM

Quote from: Wexlike on September 04, 2014, 03:37:49 PM

I will invest 10$ per day to buy more bitcoins. Thus in the long term i increase my percentage of the network.

With 25 btc per block the network has a daily 0.0272% inflation.

If you invest more than 14 cent per day at the current price for every bitcoin you own, you increase your percentage compared to the whole network.

Soon i will become a whale. Cool

(Just had some fun playing with numbers)

What is your definition of whale?

If you consider 1000 btc being a whale, that will take you more than 100 years to become one if you only invest 10 per day.

Even the most liberal definitions of being a whale would take the OP a very long time to become a whale at $10 per day. Even if the price was still $10 per bitcoin it would take years.

arbitrage001

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Quote from: Wexlike on September 04, 2014, 03:37:49 PM

I will invest 10$ per day to buy more bitcoins. Thus in the long term i increase my percentage of the network.

With 25 btc per block the network has a daily 0.0272% inflation.

If you invest more than 14 cent per day at the current price for every bitcoin you own, you increase your percentage compared to the whole network.

Soon i will become a whale. Cool

(Just had some fun playing with numbers)

What is your definition of whale?

If you consider 1000 btc being a whale, that will take you more than 100 years to become one if you only invest 10 per day.

richieB

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Quote from: Wexlike on September 04, 2014, 03:37:49 PM

I will invest 10$ per day to buy more bitcoins. Thus in the long term i increase my percentage of the network.

With 25 btc per block the network has a daily 0.0272% inflation.

If you invest more than 14 cent per day at the current price for every bitcoin you own, you increase your percentage compared to the whole network.

Soon i will become a whale. Cool

(Just had some fun playing with numbers)

that's some smart thinking there. also a fun one:D good luck mr whale

deepestfear

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this is a bit like a systematic investment program (SIP)
A variant that I quite like is to buy regularly like you suggest but to buy more when prices are falling, and less when they rise

routecrypto

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Nice strategy, it will work in the long term, hoping that bitcoin will be valued more and more every year.

countryfree

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Your country may be your worst enemy

Quote from: lyth0s on September 04, 2014, 05:23:54 PM

Thanks for putting that into perspective. I like the idea of owning a bigger piece of the whole bitcoin pie per day

I like the opposite idea even more. This is the classic position of the investor who tries to corner the market, but if I want BTC to be successful, I want the BTC pie to get more spread out among the global world population.

Wealthy

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Quote from: Wexlike on September 04, 2014, 03:37:49 PM

I will invest 10$ per day to buy more bitcoins. Thus in the long term i increase my percentage of the network.

With 25 btc per block the network has a daily 0.0272% inflation.

If you invest more than 14 cent per day at the current price for every bitcoin you own, you increase your percentage compared to the whole network.

Soon i will become a whale. Cool

(Just had some fun playing with numbers)

Why are you so sure about the rise in bitcoin price?

Gumbork

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Quote from: Wexlike on September 04, 2014, 03:37:49 PM

I will invest 10$ per day to buy more bitcoins. Thus in the long term i increase my percentage of the network.

With 25 btc per block the network has a daily 0.0272% inflation.

If you invest more than 14 cent per day at the current price for every bitcoin you own, you increase your percentage compared to the whole network.

Soon i will become a whale. Cool

(Just had some fun playing with numbers)

Nice calculation, but you will have to invest $20 if bitcoin rise to $1000 and more if it went higher.

lyth0s

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World Class Cryptonaire

Quote from: johnyj on September 06, 2014, 11:54:40 PM

That could be a long term saving plan, should also consider a cash out plan when the investment mature after several years

"cash out plan". These always make me laugh a bit. The way I see it, anyone that will be selling their Bitcoins for over $10,000 a coin for cash is obviously looking at the entire scenario wrong.

https://i.imgur.com/gE8hDnY.jpg

johnyj

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That could be a long term saving plan, should also consider a cash out plan when the investment mature after several years

InwardContour

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This is a smart perspective of the bitcoin market, if you will increase your percent everyday you will become a whale but it's not so easy to achieve.

Brewins

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In the long term you will only keep your % of the network, unless you buy more and more Bitcoins.

So do you think Bitcoin will see a long-term devaluation, so your $10 will be more and more Bitcoins?

wasserman99

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Activity: 476

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Quote from: Wexlike on September 04, 2014, 06:40:07 PM

Uhm that is just wrong. The network grows on its own with an increase of 0.027% (3600 btc per day).

As an example, someone has 100 bitcoins. If he wants to keep his percentage of the network equal, he has to buy 0.027% of his stake per day. That equals to 0.027 bitcoins per day.

If you would buy all of the 3600 coins, ofcourse your percentage would rise much higher. But i am talking about the percentage of your current holdings compared to the overall network.

Please, think again about the numbers. You missed the point.

edit: at one point in time i will reach with my 10$ buys per day an equilibrium with my current holdings. After that point, i have to steadily increase my buys per 0.027% per day until the next halving. Regarding the price doesn't change. Tongue

I see your point. My mistake. If you had $10 worth of bitcoin on Monday and then on Tuesday bought another $10 worth of bitcoin then your percentage of the total bitcoin that have been mined (are available) would increase by ~99.97%.

With that being said it would still really not be possible for you to become a whale because you would eventually get to own too much bitcoin for $10 to make a big difference of your total holdings anymore.

Wexlike

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Uhm that is just wrong. The network grows on its own with an increase of 0.027% (3600 btc per day).

As an example, someone has 100 bitcoins. If he wants to keep his percentage of the network equal, he has to buy 0.027% of his stake per day. That equals to 0.027 bitcoins per day.

If you would buy all of the 3600 coins, ofcourse your percentage would rise much higher. But i am talking about the percentage of your current holdings compared to the overall network.

Please, think again about the numbers. You missed the point.

edit: at one point in time i will reach with my 10$ buys per day an equilibrium with my current holdings. After that point, i have to steadily increase my buys per 0.027% per day until the next halving. Regarding the price doesn't change. Tongue

wasserman99

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The total value of the bitcoin mined by the miners every day is more then $10. (It is actually ~$1.8 million, but all that matters is that fact it is more then the $10 you are investing every day). Since the value of the bitcoin mined is greater then the amount you are investing in bitcoin, your percentage of all the bitcoin available will actually go down every day. You fail to account for the fact that the amount you are buying is less then the daily inflation rate.

BitDreams

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This is a high achievers strategy! How many people ignored the current float and built in inflation and calculated on 21 million instead? I know I was but I'm changing the way I look at it now, thanks!

lyth0s

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Thanks for putting that into perspective. I like the idea of owning a bigger piece of the whole bitcoin pie per day

Wexlike

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I will invest 10$ per day to buy more bitcoins. Thus in the long term i increase my percentage of the network.

With 25 btc per block the network has a daily 0.0272% inflation.

If you invest more than 14 cent per day at the current price for every bitcoin you own, you increase your percentage compared to the whole network.

Soon i will become a whale. Cool

(Just had some fun playing with numbers)

Topic: I will increase my %-possesion of the bitcoin ledger every day (Read 1358 times)