one question tickling my mind - page 6.

Netpyder

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Quote from: dothebeats on March 06, 2015, 11:01:45 AM

Quote from: Q7 on March 06, 2015, 10:13:41 AM

It doesn't matter how long it has been kept, the coins will still be there in the blockchain. Technically it's also not the Bitcoins that are stored, it's just that you know the private and it can be used to access the coins. Well that is provided that the guy still has the private keys to the coins and managed to retrieve it. I can't imagine the 50k that used to be worth almost close to nothing will be now worth millions.

And don't forget the 10k btc pizza!

Well most of us didn't think that we will come to where we are right now. If only I took notice of bitcoins way back 2009, I would definitely become a millionaire.

But nah, there are still some opportunities out there.

mate you mean BILLIONAIRE.

remember they were worth 1300$ at one time? lol

1,000,000 bitcoins would be 1.3 BILLION$
damn.. bring my time machine here Cheesy

dothebeats

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Quote from: Q7 on March 06, 2015, 10:13:41 AM

It doesn't matter how long it has been kept, the coins will still be there in the blockchain. Technically it's also not the Bitcoins that are stored, it's just that you know the private and it can be used to access the coins. Well that is provided that the guy still has the private keys to the coins and managed to retrieve it. I can't imagine the 50k that used to be worth almost close to nothing will be now worth millions.

And don't forget the 10k btc pizza!

Well most of us didn't think that we will come to where we are right now. If only I took notice of bitcoins way back 2009, I would definitely become a millionaire.

But nah, there are still some opportunities out there.

Q7

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It doesn't matter how long it has been kept, the coins will still be there in the blockchain. Technically it's also not the Bitcoins that are stored, it's just that you know the private and it can be used to access the coins. Well that is provided that the guy still has the private keys to the coins and managed to retrieve it. I can't imagine the 50k that used to be worth almost close to nothing will be now worth millions.

dothebeats

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Quote from: Tsquared on March 06, 2015, 08:54:05 AM

Quote from: dothebeats on March 06, 2015, 08:29:19 AM

Quote from: ajareselde on March 05, 2015, 11:07:51 AM

Quote from: Netpyder on March 05, 2015, 08:42:03 AM

Quote from: Tsquared on March 05, 2015, 08:24:58 AM

"Hind sight is 20/20"

It's easy to look back and know what you would have done.

But what about today? In 5 years Bitcoin may be worth $10,000 each. Most of us will be saying "I should have bought hundreds of bitcoins when they were only $300 each. Some people will be saying "I did buy hundreds of bitcoins when they were $300 each, and now I'm rich!"

TT

or due to its limited quantity the price might just drop dead to 1-2$ each and people would say, damn should have sold

Why in the world would the price fall to 1-2 $ because its limited supply ? The point of limited supply is increase of value, not its loss, it works other way around.
I am not saying that the price will be 10k$ or 30$, and i dont care much, as long as bitcoin gets to be an option i can choose when im buying for my daily needs.
You have a strange way of looking at things, first with that idea of bitcoins not being worth just because they are aged, and now with claim it can drop dead because of limited supply?!

cheers

Just thinking about the other possibility. What if with the limited supply comes the scarcity of demand? Wouldn't that affect the price and cause it to fall to what is already stated above?

There are millions of combinations of situations that could cause prices to rise or fall, and even when something happens that folks are sure will cause a move in one direction, bitcoin often does the opposite. This is why we call it speculation.

TT

Hard to put all the eggs on such a speculative basket. That's why every investor should diversify in his investments and not focus on one and only one investment alone.

Tsquared

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http://digitalcoin.org/

Quote from: dothebeats on March 06, 2015, 08:29:19 AM

Quote from: ajareselde on March 05, 2015, 11:07:51 AM

Quote from: Netpyder on March 05, 2015, 08:42:03 AM

Quote from: Tsquared on March 05, 2015, 08:24:58 AM

"Hind sight is 20/20"

It's easy to look back and know what you would have done.

But what about today? In 5 years Bitcoin may be worth $10,000 each. Most of us will be saying "I should have bought hundreds of bitcoins when they were only $300 each. Some people will be saying "I did buy hundreds of bitcoins when they were $300 each, and now I'm rich!"

TT

or due to its limited quantity the price might just drop dead to 1-2$ each and people would say, damn should have sold

Why in the world would the price fall to 1-2 $ because its limited supply ? The point of limited supply is increase of value, not its loss, it works other way around.
I am not saying that the price will be 10k$ or 30$, and i dont care much, as long as bitcoin gets to be an option i can choose when im buying for my daily needs.
You have a strange way of looking at things, first with that idea of bitcoins not being worth just because they are aged, and now with claim it can drop dead because of limited supply?!

cheers

Just thinking about the other possibility. What if with the limited supply comes the scarcity of demand? Wouldn't that affect the price and cause it to fall to what is already stated above?

There are millions of combinations of situations that could cause prices to rise or fall, and even when something happens that folks are sure will cause a move in one direction, bitcoin often does the opposite. This is why we call it speculation.

TT

dothebeats

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Quote from: Netpyder on March 05, 2015, 12:24:38 PM

Quote from: OnkelPaul on March 05, 2015, 11:31:03 AM

Quote from: ajareselde on March 05, 2015, 11:07:51 AM

Why in the world would the price fall to 1-2 $ because its limited supply ? The point of limited supply is increase of value, not its loss, it works other way around.

Limited supply only corresponds to high price if there is sufficient demand.
Future demand for bitcoin can't be reliably estimated - for example, a theoretical new crypto currency might prove vastly superior to bitcoin, and bitcoin holders would try to exchange their bitcoin assets into that new currency. In such a situation, demand would become pretty low while supply would be temporarily much higher than what is generated through mining. In such a situation, there may be additional factors: Miners might be shut off when bitcoin price becomes too low to make their operation economically feasible, and block times might temporarily become much longer (before difficulty adjustment correcty for the loss in mining power) making bitcoin even less attractive.
This is a completely theoretical scenario, but it's not impossible.

Onkel Paul

exactly my point. its not a stamp collection that will always get appreciated on the market.
agreed that many people started using bitcoins for daily deals now. but if like you say something else pops up, it will be drastically devalued.

also cypto has no 100% holding value. it might drop dead anytime or boom high.

well lets just sit back and watch. for the time being its dropping a bit

I second this. Crypto-holding has no assurance or whatsoever of appreciation in value. Anytime it will drop down and it can skyrocket. No one can predict exactly as to what will happen.

Oops. Drops.

dothebeats

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Quote from: ajareselde on March 05, 2015, 11:07:51 AM

Quote from: Netpyder on March 05, 2015, 08:42:03 AM

Quote from: Tsquared on March 05, 2015, 08:24:58 AM

"Hind sight is 20/20"

It's easy to look back and know what you would have done.

But what about today? In 5 years Bitcoin may be worth $10,000 each. Most of us will be saying "I should have bought hundreds of bitcoins when they were only $300 each. Some people will be saying "I did buy hundreds of bitcoins when they were $300 each, and now I'm rich!"

TT

or due to its limited quantity the price might just drop dead to 1-2$ each and people would say, damn should have sold

Why in the world would the price fall to 1-2 $ because its limited supply ? The point of limited supply is increase of value, not its loss, it works other way around.
I am not saying that the price will be 10k$ or 30$, and i dont care much, as long as bitcoin gets to be an option i can choose when im buying for my daily needs.
You have a strange way of looking at things, first with that idea of bitcoins not being worth just because they are aged, and now with claim it can drop dead because of limited supply?!

cheers

Just thinking about the other possibility. What if with the limited supply comes the scarcity of demand? Wouldn't that affect the price and cause it to fall to what is already stated above?

arallmuus

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Quote from: Netpyder on March 05, 2015, 12:24:38 PM

Quote from: OnkelPaul on March 05, 2015, 11:31:03 AM

Quote from: ajareselde on March 05, 2015, 11:07:51 AM

Why in the world would the price fall to 1-2 $ because its limited supply ? The point of limited supply is increase of value, not its loss, it works other way around.

Limited supply only corresponds to high price if there is sufficient demand.
Future demand for bitcoin can't be reliably estimated - for example, a theoretical new crypto currency might prove vastly superior to bitcoin, and bitcoin holders would try to exchange their bitcoin assets into that new currency. In such a situation, demand would become pretty low while supply would be temporarily much higher than what is generated through mining. In such a situation, there may be additional factors: Miners might be shut off when bitcoin price becomes too low to make their operation economically feasible, and block times might temporarily become much longer (before difficulty adjustment correcty for the loss in mining power) making bitcoin even less attractive.
This is a completely theoretical scenario, but it's not impossible.

Onkel Paul

exactly my point. its not a stamp collection that will always get appreciated on the market.
agreed that many people started using bitcoins for daily deals now. but if like you say something else pops up, it will be drastically devalued.

also cypto has no 100% holding value. it might drop dead anytime or boom high.

well lets just sit back and watch. for the time being its dropping a bit

why do you think the price wont fall below $50 even if there is such limited supply? as usual once we hit the resistance line, alot of people will try to jump the ship, thus dumping their coins and this drive the price even much lower and bleed to deadm there isnt any guarantee that your coins could be well useless by tomorrow anyway

Netpyder

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Quote from: OnkelPaul on March 05, 2015, 11:31:03 AM

Quote from: ajareselde on March 05, 2015, 11:07:51 AM

Why in the world would the price fall to 1-2 $ because its limited supply ? The point of limited supply is increase of value, not its loss, it works other way around.

Limited supply only corresponds to high price if there is sufficient demand.
Future demand for bitcoin can't be reliably estimated - for example, a theoretical new crypto currency might prove vastly superior to bitcoin, and bitcoin holders would try to exchange their bitcoin assets into that new currency. In such a situation, demand would become pretty low while supply would be temporarily much higher than what is generated through mining. In such a situation, there may be additional factors: Miners might be shut off when bitcoin price becomes too low to make their operation economically feasible, and block times might temporarily become much longer (before difficulty adjustment correcty for the loss in mining power) making bitcoin even less attractive.
This is a completely theoretical scenario, but it's not impossible.

Onkel Paul

exactly my point. its not a stamp collection that will always get appreciated on the market.
agreed that many people started using bitcoins for daily deals now. but if like you say something else pops up, it will be drastically devalued.

also cypto has no 100% holding value. it might drop dead anytime or boom high.

well lets just sit back and watch. for the time being its dropping a bit

kitarohotono

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Quote from: OnkelPaul on March 05, 2015, 07:29:48 AM

Yes. Bitcoins don't lose validity as long as you keep the private keys safe.
But it is quite possible that some of the huge bitcoin stashes from early mining are inaccessible due to lost wallets - people did not be particularly careful with their wallets when bitcoins were worth basically nothing.

Onkel Paul

I think they bought pizza with that Shocked

findftp

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Delusional crypto obsessionist

Quote from: Netpyder on March 05, 2015, 07:21:54 AM

i have one question..

in 2011 bitcoins per 50,000 to 500,000 we spent for nothing, just pranking and stuff...

if one person kept 50,000 bitcoins in his account from 2011 up till now,

would the bitcoins still be valid for transactions?

If they weren't bitcoin would not have existed anymore.
Bitcoin is also a store of value, although a horrible one. Price keeps surging...
You can keep them for 1 trillion years if you want.

OnkelPaul

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Quote from: ajareselde on March 05, 2015, 11:07:51 AM

Why in the world would the price fall to 1-2 $ because its limited supply ? The point of limited supply is increase of value, not its loss, it works other way around.

Limited supply only corresponds to high price if there is sufficient demand.
Future demand for bitcoin can't be reliably estimated - for example, a theoretical new crypto currency might prove vastly superior to bitcoin, and bitcoin holders would try to exchange their bitcoin assets into that new currency. In such a situation, demand would become pretty low while supply would be temporarily much higher than what is generated through mining. In such a situation, there may be additional factors: Miners might be shut off when bitcoin price becomes too low to make their operation economically feasible, and block times might temporarily become much longer (before difficulty adjustment correcty for the loss in mining power) making bitcoin even less attractive.
This is a completely theoretical scenario, but it's not impossible.

Onkel Paul

ajareselde

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Satoshi is rolling in his grave. #bitcoin

Quote from: Netpyder on March 05, 2015, 08:42:03 AM

Quote from: Tsquared on March 05, 2015, 08:24:58 AM

"Hind sight is 20/20"

It's easy to look back and know what you would have done.

But what about today? In 5 years Bitcoin may be worth $10,000 each. Most of us will be saying "I should have bought hundreds of bitcoins when they were only $300 each. Some people will be saying "I did buy hundreds of bitcoins when they were $300 each, and now I'm rich!"

TT

or due to its limited quantity the price might just drop dead to 1-2$ each and people would say, damn should have sold

Why in the world would the price fall to 1-2 $ because its limited supply ? The point of limited supply is increase of value, not its loss, it works other way around.
I am not saying that the price will be 10k$ or 30$, and i dont care much, as long as bitcoin gets to be an option i can choose when im buying for my daily needs.
You have a strange way of looking at things, first with that idea of bitcoins not being worth just because they are aged, and now with claim it can drop dead because of limited supply?!

cheers

dothebeats

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Quote from: Tsquared on March 05, 2015, 08:24:58 AM

"Hind sight is 20/20"

It's easy to look back and know what you would have done.

But what about today? In 5 years Bitcoin may be worth $10,000 each. Most of us will be saying "I should have bought hundreds of bitcoins when they were only $300 each. Some people will be saying "I did buy hundreds of bitcoins when they were $300 each, and now I'm rich!"

TT

There are always regrets in the end lol. You should know when to quit or when to carry on. The quitters aren't always the losers in bitcoin. It is those who made the most out of it when it was profitable.

dothebeats

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Quote from: Netpyder on March 05, 2015, 08:42:03 AM

Quote from: Tsquared on March 05, 2015, 08:24:58 AM

"Hind sight is 20/20"

It's easy to look back and know what you would have done.

But what about today? In 5 years Bitcoin may be worth $10,000 each. Most of us will be saying "I should have bought hundreds of bitcoins when they were only $300 each. Some people will be saying "I did buy hundreds of bitcoins when they were $300 each, and now I'm rich!"

TT

or due to its limited quantity the price might just drop dead to 1-2$ each and people would say, damn should have sold

Yah. After all it's a two-faced reality that we're facing right now: to go up or tank down. No one could safely say that it will go up, and no one on the other hand could also say that it will tank down. It's purely a speculative asset in my opinion. You should know when to let go or when to hold on. Wink

Netpyder

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Quote from: Tsquared on March 05, 2015, 08:24:58 AM

"Hind sight is 20/20"

It's easy to look back and know what you would have done.

But what about today? In 5 years Bitcoin may be worth $10,000 each. Most of us will be saying "I should have bought hundreds of bitcoins when they were only $300 each. Some people will be saying "I did buy hundreds of bitcoins when they were $300 each, and now I'm rich!"

TT

or due to its limited quantity the price might just drop dead to 1-2$ each and people would say, damn should have sold

Tsquared

hero member

Activity: 500

Merit: 501

http://digitalcoin.org/

"Hind sight is 20/20"

It's easy to look back and know what you would have done.

But what about today? In 5 years Bitcoin may be worth $10,000 each. Most of us will be saying "I should have bought hundreds of bitcoins when they were only $300 each. Some people will be saying "I did buy hundreds of bitcoins when they were $300 each, and now I'm rich!"

TT

Netpyder

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Quote from: dothebeats on March 05, 2015, 08:15:08 AM

Quote from: Netpyder on March 05, 2015, 07:52:55 AM

Quote from: Amph on March 05, 2015, 07:51:34 AM

they don't lose their intrinsic value, just the value given by people in the world

so 50k bitcoin from 2011 are still 50k bitcoin today, if you were so good at holding them all Grin

yeah lol. if anybody knew this kind of cash was coming. i think they would have collected every possible bitcoin they would find lol

But the thing is most of the people back then didn't care about bitcoins until it gained value. :3 Sad to say but things with no value in the past tend to get pricey in the future--and one great example is bitcoin.

TRUE !

dothebeats

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Quote from: Netpyder on March 05, 2015, 07:52:55 AM

Quote from: Amph on March 05, 2015, 07:51:34 AM

they don't lose their intrinsic value, just the value given by people in the world

so 50k bitcoin from 2011 are still 50k bitcoin today, if you were so good at holding them all Grin

yeah lol. if anybody knew this kind of cash was coming. i think they would have collected every possible bitcoin they would find lol

But the thing is most of the people back then didn't care about bitcoins until it gained value. :3 Sad to say but things with no value in the past tend to get pricey in the future--and one great example is bitcoin.

Netpyder

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Quote from: Amph on March 05, 2015, 07:51:34 AM

they don't lose their intrinsic value, just the value given by people in the world

so 50k bitcoin from 2011 are still 50k bitcoin today, if you were so good at holding them all Grin

yeah lol. if anybody knew this kind of cash was coming. i think they would have collected every possible bitcoin they would find lol

Topic: one question tickling my mind - page 6. (Read 3608 times)