Topic: PANIC PANIC! (just get it over with, will you?) (Read 2158 times)

Quote from: Tzupy on August 13, 2014, 04:14:46 PM

lol there is no panic selling, just less buyers, you do now that the number of bitcoin created a day is fixed right, so is all in the buyers

It is most certainly not.

why, isn't 25 btc every 10 minutes, so 6 x 24 x 25= 3600 a day? i'm missing something?

It's not fixed, because of variable time per block, currently is about 3850 a day AFAIK (was even higher).

ah yeah i know about that little variance, but in the end the rate is nearly fixed, it can change so much

OgNasty

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lol there is no panic selling, just less buyers, you do now that the number of bitcoin created a day is fixed right, so is all in the buyers

It is most certainly not.

why, isn't 25 btc every 10 minutes, so 6 x 24 x 25= 3600 a day? i'm missing something?

It's not fixed, because of variable time per block, currently is about 3850 a day AFAIK (was even higher).

This is a pretty weak debate. You're both right. Difficulty exists to keep the # of coins produced per day at the same rate over time, but variance and network growth make it so that the number of coins per day is not the exact same one day to the next.

Wilhelm

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This is the moment where all n00bs with weak hands get slaughtered.
The same weak hands that will frenzy back in later when it's moontime Cheesy

Tzupy

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lol there is no panic selling, just less buyers, you do now that the number of bitcoin created a day is fixed right, so is all in the buyers

It is most certainly not.

why, isn't 25 btc every 10 minutes, so 6 x 24 x 25= 3600 a day? i'm missing something?

It's not fixed, because of variable time per block, currently is about 3850 a day AFAIK (was even higher).

WompRat

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lol there is no panic selling, just less buyers, you do now that the number of bitcoin created a day is fixed right, so is all in the buyers

It is most certainly not.

why, isn't 25 btc every 10 minutes, so 6 x 24 x 25= 3600 a day? i'm missing something?

3600 coins is the daily inflation, but miners may choose to hold in anticipation of a price rise or may sell. I would imagine they would sell enough each day to cover costs and hold surplus, but I have never seen any good analysis on this.

InwardContour

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Panic doesn't affect long term holders.
The average hodler user just relax watching at the price drops and rises while the others have some nice panic attacks.

Ayers

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Quote from: rocks on August 13, 2014, 11:23:01 AM

lol there is no panic selling, just less buyers, you do now that the number of bitcoin created a day is fixed right, so is all in the buyers

It is most certainly not.

why, isn't 25 btc every 10 minutes, so 6 x 24 x 25= 3600 a day? i'm missing something?

wang_yan

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Quote from: spiderbrain on August 13, 2014, 08:34:05 AM

Quote from: lay785 on August 13, 2014, 08:29:38 AM

if you sold and rebought youd have even more of your precious bitcoins?

Yeah, that's what I did > $1000. Everyone was "Buy buy!" so I was "Sell sell!"

A lot of other people did the exact same thing when bitcoin first past $30 in 2013 and shot up to $60. Many never got back in and btc got away from them.

The fact is no one knows what the short term will do, but if adoption continues in the long term we know it will keep going up.

A falling of the price is helpful for the adoption.

rocks

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Quote from: spiderbrain on August 13, 2014, 08:34:05 AM

Quote from: lay785 on August 13, 2014, 08:29:38 AM

if you sold and rebought youd have even more of your precious bitcoins?

Yeah, that's what I did > $1000. Everyone was "Buy buy!" so I was "Sell sell!"

A lot of other people did the exact same thing when bitcoin first past $30 in 2013 and shot up to $60. Many never got back in and btc got away from them.

The fact is no one knows what the short term will do, but if adoption continues in the long term we know it will keep going up.

silversmith

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I like paying less for my bitcoins. The lower the better since I'm holding my bitcoins in cold storage until my retirement in 2045!

dropt

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