UPDATE - page 4. | Bitcointalksearch.org

zimmah

legendary

Activity: 1106

Merit: 1005

Quote from: DiamondCardz on November 04, 2015, 05:58:53 PM

Technically it should increase the price, though I don't personally think that the removal of large amounts of BTC from the Bitcoin ecosystem is good due to the deflationary effect that it can have. You may have even been able to see that with the recent rally: less market activity as the price rose dramatically.

those are extreme cases though

no one in their right mind will spend something that might be worth double the next day if they can wait a day with their purchase.

deflation is never that extreme though.

in fact, currently we still have inflation, and technically will keep having inflation until 2100ish. (although it will likely stabilize sooner)

since bitcoin will not be destroyed that often (aside from a few accidents) the value of bitcoin will rise and fall with the global economy if it becomes the main world currency.

so bitcoin will be worth more if the economy is healthy, and worth less when the economy is unhealthy.

DiamondCardz

legendary

Activity: 1134

Merit: 1118

Technically it should increase the price, though I don't personally think that the removal of large amounts of BTC from the Bitcoin ecosystem is good due to the deflationary effect that it can have. You may have even been able to see that with the recent rally: less market activity as the price rose dramatically.

n2004al

legendary

Activity: 1134

Merit: 1000

Quote from: kaselit on November 01, 2015, 01:08:22 AM

I was wondering if this two factors:

- Milion of BTC lost by banks (like MT GOX) or by distracted people
- Milion of BTC in hand of few people (like Satoshi) than now have in their hand more than 200 milion of $

Can damage the BTC economy? Shouldn't this 2 factors increase the BTC value more and more?

The bitcoins of Mt Gox are not lost. Are stolen and are in circulation or it can be in circulation in every moment. The same with the bitcoins of Satoshi. But if even these amount mentioned by you are lost and cannot enter in the market why must affect the actual situation of bitcoin or its market. The actual situation or the price of bitcoin in the market is exact how must be without having those amounts. This equilibrium is arrived without those. So why the lack of the above amounts must affect in some way something or everything connected with bitcoin. The price can be changed if those amounts enter in the market. But without those the situation is exact like it can (must) be without those.

zimmah

legendary

Activity: 1106

Merit: 1005

Quote from: kaselit on November 01, 2015, 01:08:22 AM

I was wondering if this two factors:

- Milion of BTC lost by banks (like MT GOX) or by distracted people
- Milion of BTC in hand of few people (like Satoshi) than now have in their hand more than 200 milion of $

Can damage the BTC economy? Shouldn't this 2 factors increase the BTC value more and more?

someone who has hundreds of millions worth in bitcoin is not stupid enough to crash the market.

and many of the lost coins (I don't mean stolen coins like mt gox, i mean coins that no one has the private key to anymore) can never be recovered, so they can be considered a donation to everyone.

Possum577

sr. member

Activity: 434

Merit: 250

Loose lips sink sigs!

They can certainly influence the market and price of bitcoin but I don't think they can truly damage the economy. Don't worry! And any big moves would be somewhat traceable back to these few people so they wouldn't be able to do something without a lot of people suspecting foul play.

traderbit

hero member

Activity: 798

Merit: 1000

The more bitcoins that are lost the more the price is increased.
Because less coins in the market the higher the price will be.
I don't think that it is a danger because it can be normal.

jaberwock

legendary

Activity: 2660

Merit: 1074

It may be some worry for the paranoids, but not a big risk, at least not bigger than with other forms of wealth. The big holders are not dumb and will not destroy their own money and power they have by being big holders, so won't do stupid things.

Study how the economic system works and who control it and you'll know that it is more concentrated than BTC and in hands of dangerous people that probably are doing dangerous things and will do much worse in the future

Ibian

legendary

Activity: 2268

Merit: 1278

Quote from: Denker on November 02, 2015, 02:06:13 PM

Quote from: TastyChillySauce00 on November 01, 2015, 05:19:07 AM

i think its a serious problem, there's gap between the rich and the poor , and people who hold million btc can easily manipulate the market , so the rich will be richer and the poor can only follow the rich

How is that a problem?
Are you also complaining about Gates, Buffett, Zuckerberg, Jack Ma, Abramovich and all the other 1600 billionaires?
Bitcoin wasn't designed to make everyone having the same wealth. First come first serve!That's how it works in every market. The super early adopters who realized how powerful Bitcoin will be are of course the ones in the best position.That's not unfair, that's just how life goes.There had been several others guys being in this game pretty early as well but they either did not believed in that technology or thought it will never make the breakthrough.
Still more than 6 million coins to come.So get as much as you can and quite whining.

He is poor and envious and therefore creates villains to make himself feel better. That's how these people work.

The real reason poor people stay poor is that they prefer to complain rather than do.

thejaytiesto

legendary

Activity: 1358

Merit: 1014

Well, it's way better than visionaries get the bigger piece of the pie on a fair game rather than people who killed a lot of people and generated money out of thin air to get what they have.
Also make no mistake, the Bitcoin whales will slowly sell because they are human and prone to fear, but they will not dump. This if anything, will help that a bigger amount of hands own Bitcoin gradually.

Denker

legendary

Activity: 1442

Merit: 1016

Quote from: TastyChillySauce00 on November 01, 2015, 05:19:07 AM

i think its a serious problem, there's gap between the rich and the poor , and people who hold million btc can easily manipulate the market , so the rich will be richer and the poor can only follow the rich

How is that a problem?
Are you also complaining about Gates, Buffett, Zuckerberg, Jack Ma, Abramovich and all the other 1600 billionaires?
Bitcoin wasn't designed to make everyone having the same wealth. First come first serve!That's how it works in every market. The super early adopters who realized how powerful Bitcoin will be are of course the ones in the best position.That's not unfair, that's just how life goes.There had been several others guys being in this game pretty early as well but they either did not believed in that technology or thought it will never make the breakthrough.
Still more than 6 million coins to come.So get as much as you can and quite whining.

pissedoff

hero member

Activity: 616

Merit: 500

People in the real world have more money than the entire bitcoin network.
Having more money does not make you a danger to the ecosystem.

Raimonn

legendary

Activity: 1470

Merit: 1001

First of all is very different bitcoins lost (people that forgot its private keys) than stolen ones. I really wanted to know how many bitcoins were lost (but i think its impossible to know).
I don't think that people that have a lot of bitcoins is danger for bitcoin price, if they want to sell, they will sell on small packets because they will want to have as money as possible. If they sell all the same day, bitcoin price will fall, and they will receive few money.

bering

legendary

Activity: 2898

Merit: 1006

Leading Crypto Sports Betting & Casino Platform

i think it depends on what they will do because if they intend to crushed the bitcoin price with doing crazy dump and manipulate market then it could be a danger

Pab

legendary

Activity: 1862

Merit: 1012

I dont think it is danger.These people cant dump his coin at once becouse it will create crash, thaydont want to loose his wealth that way,thay are rather interested in price inrease,In today economy with his stimuls,low rates,debt creation fiat money are loosing value.Bitcoin is in opposition to fiat,so btc price is going to raise together with positive news

Pierre 2

legendary

Activity: 2436

Merit: 1366

Lost bitcoins are no danger to bitcoin market. It is even good for small percentage owners.
But guys called whales are dangerous. They can manipulate and damage market easily.

zodiac3011

hero member

Activity: 770

Merit: 500

fiat's world is not stable right now (look at US's public debt). Bitcoin's just like gold or silver don't usually lose their value so people who have a lot of bitcoins tend to hold it wait for the chance that they can alter the whole market (a big dump when the price is really high) then buy them low again and wait for another. Eventually, they make money while everyone loses it

Ibian

legendary

Activity: 2268

Merit: 1278

Quote from: TastyChillySauce00 on November 01, 2015, 05:19:07 AM

i think its a serious problem, there's gap between the rich and the poor , and people who hold million btc can easily manipulate the market , so the rich will be richer and the poor can only follow the rich

Welcome to the real world.

TastyChillySauce00

legendary

Activity: 3010

Merit: 1028

Leading Crypto Sports Betting & Casino Platform

i think its a serious problem, there's gap between the rich and the poor , and people who hold million btc can easily manipulate the market , so the rich will be richer and the poor can only follow the rich

Ibian

legendary

Activity: 2268

Merit: 1278

Quote from: bct-user on November 01, 2015, 04:34:14 AM

Quote from: ?? on ??

I know that after MT GOX problem, a lot of BTC has been lost... And i think some kind of milions have been lost!

ah, that's right, sadly but this is true. million precious wealth have been lost because fat guy who spent he's theft coin for pay a prostitutes.
maybe this is why bitcoin price go up.

The goxcoins were not lost. They were redistributed.

bct-user

full member

Activity: 383

Merit: 100

Quote from: ?? on ??

I know that after MT GOX problem, a lot of BTC has been lost... And i think some kind of milions have been lost!

ah, that's right, sadly but this is true. million precious wealth have been lost because fat guy who spent he's theft coin for pay a prostitutes.
maybe this is why bitcoin price go up.

Topic: UPDATE - page 4. (Read 5506 times)