How much was the block reward 2 years ago? How high was bitcoin inflation 2 years ago? Did bitcoin manage to maintain the exchange price?
![Huh](https://bitcointalk.org/Smileys/default/huh.gif)
But what would the number of coins mined per day have to do with the declining price?
It didn't really matter when it changed from 50 BTC halving to 25 BTC. Traders will trade, programmers will program. Price is a market condition, not a development condition.
![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
Fantastic attempt to deviate from the obvious fallacy in your argument.
The block reward was twice as high 2 years ago yet Bitcoin managed to survive.
Can you explain
![Huh](https://bitcointalk.org/Smileys/default/huh.gif)
Do you guys realise that when BTC price was at less than $1 for example the coins mined a day were double what they are today, yes, but the amount of fiat they were valued at was ridiculously smaller (and so a lot less of new money coming in was needed to pump the price)?
At $1-$10 for example the market cap was so tiny that it could be easily pumped by a few millionaires. Inflation was more than 10% yes, but it didn't matter since the amount of money that needed to come in to sustain or increase the price considering the coins mined every day was infinitely smaller.
Today we have 3600 BTC mined every single day. That's 1.1M USD of new supply created every single day. EVERY SINGLE FUCKING DAY.
If price goes to $660 (that a few months back seemed dirt cheap for the perma-bulls) that amount of USD value doubles, etc.
But what would the number of coins mined per day have to do with the declining price?
Are you serious?