Let's back to the one of the fundamentals that determines the bitcoin price. That is related to the cost of miners.
The miner won't sell for their bitcoins under their cost. However, it seems that current bitcoin price is well below that cost.
How can you explain that?
Topic: More bitcoins are domant, what does this mean? - page 2. (Read 1552 times)
I'm hoping it means people are getting the bitcoins and then holding onto them, saving them up because they "believe" in Bitcoin.
This is total speculation from someone that has no formal financial education. But I think we're (the bitcoin ecosphere) building up "potential energy" to launch forward. Less like a rubber band - more like a snowball at the top of a hill.
Companies and users keep patting on a little more snow each day while the snowball just sits at the top of the hill, not really going anywhere. Sometimes a little snow even gets knocked off, but all the building keeps going on in the background. Eventually something big will happen that will push the snowball over the edge of the hill and the momentum will keep building as snow piles on until we have another huge bubble similar to the dot-com boom of the late 90's.
I think this "big-boom" will be less dramatic than the dot-com thing because investors have that recent experience to look back on, but I think there will be a big boom and bust in the next 2-5 years. Hopefully after that we'll see the more steady growth we've seen with the internet since the bubble.
Just my 2 satoshi
Companies and users keep patting on a little more snow each day while the snowball just sits at the top of the hill, not really going anywhere. Sometimes a little snow even gets knocked off, but all the building keeps going on in the background. Eventually something big will happen that will push the snowball over the edge of the hill and the momentum will keep building as snow piles on until we have another huge bubble similar to the dot-com boom of the late 90's.
I think this "big-boom" will be less dramatic than the dot-com thing because investors have that recent experience to look back on, but I think there will be a big boom and bust in the next 2-5 years. Hopefully after that we'll see the more steady growth we've seen with the internet since the bubble.
Just my 2 satoshi
Bitcoin will pay u back with time. Keep hoarding...
According to dormant bitcoin chart at http://www.dormantbitcoin.com/, we can see that the last two bars are very close. Approximately 20% of the bitcoins in wallets which have sent some bitcoins between block 270000 to 28000, but did not sent anything since block 280,000. This percentage is historically high, since historically the percentage of the second last bar is around 10%, which indicates that more bitcoins are dormant in recent months. A complete picture can also be seen in http://dormantbitcoin.com/dormantbitcoin/panorama/.
Well, this observation is a little bit counter intuition of mine, since bitcoin should be more active with the growing popularity.
People are hoarding bitcoins and thinking they can be richer counting on bitcoins?
Or the dormancy is due to the recent price drop?
The bottom line is that, I personally are hoarding bitcoins. I am always buying and never selling and bet the the price will go up further.
Well, this observation is a little bit counter intuition of mine, since bitcoin should be more active with the growing popularity.
People are hoarding bitcoins and thinking they can be richer counting on bitcoins?
Or the dormancy is due to the recent price drop?
The bottom line is that, I personally are hoarding bitcoins. I am always buying and never selling and bet the the price will go up further.
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