Topic: UPDATE (Read 5483 times)
Lost bitcoin is not gonna be a matter in the economy. If the lost bitcoin is considered it will give a increase in price. Because the lost will considered as a crypt in circulation.
In terms of usability probably it doesn`t affect too much, But in economic question would be analyzed more carefully.
Suppose for example that someone decides to buy all BTC existing and pay all marketcap entire for it , how many should receive? Without going any further the mega-buyer it would have to know how many actually exist in circulation and have not been lost to ensure that all are delivered to him/she. This is just a hypothetical case belongs rather to the theoretical field. It may sound farfetched now but it could be the case that this can become real some day.
Exactly said such scenario would take place only if the Bitcoin is made centralized. Only if bitcoin is adopted by a very big corporate the quote by above mate will take place.
Lost bitcoin is not gonna be a matter in the economy. If the lost bitcoin is considered it will give a increase in price. Because the lost will considered as a crypt in circulation.
In terms of usability probably it doesn`t affect too much, But in economic question would be analyzed more carefully.
Suppose for example that someone decides to buy all BTC existing and pay all marketcap entire for it , how many should receive? Without going any further the mega-buyer it would have to know how many actually exist in circulation and have not been lost to ensure that all are delivered to him/she. This is just a hypothetical case belongs rather to the theoretical field. It may sound farfetched now but it could be the case that this can become real some day.
Lost bitcoin is not gonna be a matter in the economy. If the lost bitcoin is considered it will give a increase in price. Because the lost will considered as a crypt in circulation.
I hope with the price going up some of the hodlers with lots of coins will gradually exchange BTC for cash. This will slowly and continuously redistribute the coins to new users. As for Satoshi's fortune, I guess we can forget about them. Most likely Satoshi will keep the as "it is". However, even the coins are moved eventually, I am sure the effect will only be short term.
I think those people will make some use of the bitcoin, for example buying a house. So their holding will reduce in long term.
I hope with the price going up some of the hodlers with lots of coins will gradually exchange BTC for cash. This will slowly and continuously redistribute the coins to new users. As for Satoshi's fortune, I guess we can forget about them. Most likely Satoshi will keep the as "it is". However, even the coins are moved eventually, I am sure the effect will only be short term.
How could it be a danger? it'll only reduce btc supply hence increase btc price!
I also think the lost coin will make the remaining coin much more valuable as the supply has reduced. So price should rise.
Millions were lost due to transaction collapses. And a part of the generated bitcoin is in the hands of few people. In the second part half is accumulated. Now big companies are planning to enter who may own the remaining part which finally be a danger zone for common men as said.
How could it be a danger? it'll only reduce btc supply hence increase btc price!
They can not spend them, even if the try to buy/sell in BTC exchange market. On average all users are buy/sell with ~ 5 - 20 BTC and not more. 
If there are 10 million of users of bitcoin in a few years, on average, they will have no more than 2 bitcoin each.
They can not spend them, even if the try to buy/sell in BTC exchange market. On average all users are buy/sell with ~ 5 - 20 BTC and not more.
The Lost bitcoins shouldn't matter in the end, just lowers the supply for the demand. However when people who have invested into a currency back out, then the value of it goes down.
There is really no way to know how many are lost. Does this affect the price since those coins can never go back into circulation but it is unknown that they are lost?
I think there is no way to know and there was a discussion already done here[1] .It does effects the price if it is happening too often or has happened with a large amount of btc's and IMO this was pretty much expected when it was created,so not much to worry bout.[1] https://bitcointalk.org/index.php?topic=1097562.320
I've wondered about the lost bitcoins. Separate from the stolen (hacked) bitcoins, there are always going to be people that lose their private keys or die and nobody knows the private key and those coins are lost forever. There is really no way to know how many are lost. Does this affect the price since those coins can never go back into circulation but it is unknown that they are lost?
Let's compare it with gold. A lot of gold are mined and then refined and used for jewelry. These items decrease the gold supply on markets, when it is hoarded in cupboards or in your safe. Some of these items are lost. < On beaches or in the water >
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
Good analogy, but add to that that btc has a strictly limited quantity!
So any coin lost means more value for the remaining ones =D
The market capitalization of Bitcoin will be much higher than gold in the future. Bitcoin has more usage than gold.
Gold is mainly the store of values, or an investment. Bitcoin is both an investment and a currency. You can use it.
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?
- 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 millions lost be Gox where stolen not lost and yes the millions in the hands of the few could be a problem if they dumped them all at once, but i reackon they would get very little for them if that was done as the price would crash before they offloaded them.
Let's compare it with gold. A lot of gold are mined and then refined and used for jewelry. These items decrease the gold supply on markets, when it is hoarded in cupboards or in your safe. Some of these items are lost. < On beaches or in the water >
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
Good analogy, but add to that that btc has a strictly limited quantity!
So any coin lost means more value for the remaining ones =D
The market capitalization of Bitcoin will be much higher than gold in the future. Bitcoin has more usage than gold.
Let's compare it with gold. A lot of gold are mined and then refined and used for jewelry. These items decrease the gold supply on markets, when it is hoarded in cupboards or in your safe. Some of these items are lost. < On beaches or in the water >
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
Good analogy, but add to that that btc has a strictly limited quantity!
So any coin lost means more value for the remaining ones =D
Let's compare it with gold. A lot of gold are mined and then refined and used for jewelry. These items decrease the gold supply on markets, when it is hoarded in cupboards or in your safe. Some of these items are lost. < On beaches or in the water >
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
Some people die with gold teeth in their mouths or motherboards and electrical appliances end up in landfills. Most of this gold are never re-cycled and are gone forever. < So it is out of circulation > This only increase the value of the gold currently in circulation.
The same goes for bitcoins pulled from circulation. It just increase the price of the bitcoins that are in circulation.
if it dropped from 1000$ to the current level, who knows what can happen next?
bitcoin will have always high price now 380$ and it will be higer and higer the price maybe will drop a little but then it will raise
if it dropped from 1000$ to the current level, who knows what can happen next?
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?
- 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?
off course yes, if some big fish decides to dump all his coin the price will go lower and lower
But some people have faith in Bitcoin, so the price is higher than certain level. The present bottom is $350.
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?
- 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?
off course yes, if some big fish decides to dump all his coin the price will go lower and lower
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?
this two also make me afraid,they two can control bitcoin price on some exchange exatly,and they will playing chart like playing game -_- - 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?
but i dont think this factors can damage bitcoin economy,as long so many developer try to develop bitcoin.
I suspect that even if what OP is saying is true that the wealth concentration will eventually redistribute. Or maybe not, who knows. Look at the wealth distribution of the US, where 50% of wealth is concentrated in 1% of the people. Not sure if that's a danger or not, but it's a reality and I think bitcoin would survive it.
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
This is where bitcoin is better.
Fiat currencies have intentional inflation in order to encourage spending and debt, but spending and debt is harmful to the poor - it takes from them and gives to the rich.
Unless you are wealthy, you can't afford the investments that beat inflation. So any money the poor do try to save ends up losing spending power.
Bitcoin is the opposite. If you are poor, you can save with bitcoin and you don't lose spending power. In fact your spending power of what you save increases as coins get lost.
An economy where the poor can save without losing spending power of what they save can help close the income gap.
You afraid that 200 million dollars are going to damage economy? If it would be so easy, billionaires would be posed as national threats ages ago.
200 million dollars are not going to destroy the economy of the world, but people who have in their hands 200 million dollars' worth of Bitcoin might manipulate the price of it to some extent. Maybe that's exactly what they are doing now: trying to lower the price in order to buy a lot of BTC when it's low enough.
Maybe just a bit but not enough to be significant. There are millions of bitcoins on the digital market at the moment so it really wouldn't pose that great of a threat.
You afraid that 200 million dollars are going to damage economy? If it would be so easy, billionaires would be posed as national threats ages ago.
200 million dollars are not going to destroy the economy of the world, but people who have in their hands 200 million dollars' worth of Bitcoin might manipulate the price of it to some extent. Maybe that's exactly what they are doing now: trying to lower the price in order to buy a lot of BTC when it's low enough.
maybe the price of bitcoin today is because there is million btc in hand of few people so there is no danger bitcoin will be safe so collect your own bitcoin
bitcoin will be safe so collect your own bitcoin We still have more bitcoin to be minted in the future. So if ordinary people buy 0.01 bitcoin each, the total amount (percentage terms) owned by few people are smaller.
You afraid that 200 million dollars are going to damage economy? If it would be so easy, billionaires would be posed as national threats ages ago.
maybe the price of bitcoin today is because there is million btc in hand of few people so there is no danger bitcoin will be safe so collect your own bitcoin
bitcoin will be safe so collect your own bitcoin 
I would rather have a million of bitcoins in the hand of a few people rather than corporate companies. I believe that those few people will keep working on bitcoin and not only keep the profits to themselves but wanting to help bitcoin grow and make it a success.
As i understood there are lots of people from banking system were involved in buyingcheap bitcoins. This is reality, Bitcoin is better than paper money and it is decentralised,
but we will still have rich and poor!
Firstly, it's million, not million.
Secondly, I don't think it's been proven that Satoshi has 1,000,000 bitcoin. People just say that.
Thirdly, it's not the amount Mt Gox stole and all the lost Bitcoin, it's the fear that something like that will happen again that will deter people from using bitcoin. To avoid that, just simply not use an exchange. Just use localbitcoins.com and meet someone in person.
Secondly, I don't think it's been proven that Satoshi has 1,000,000 bitcoin. People just say that.
Thirdly, it's not the amount Mt Gox stole and all the lost Bitcoin, it's the fear that something like that will happen again that will deter people from using bitcoin. To avoid that, just simply not use an exchange. Just use localbitcoins.com and meet someone in person.
I agree. It's not really the amount which is important!
The fact is that you feel like you can't trust your exchange plateform and the site to use!
It's just the fear of being stolen which is dangerous for btc
Lost BTC isn't really an issue, it's gone and most likely never going to be recovered. Stolen BTC could be and will be a problem. Large holders are a question indeed, but if prices go up these whales are unlikely to dump their stash in one go. If they sell then more likely they will sell it in a dark pool to a corporate player or to another whale.
Exactly, the large holders are most likely not going to sell big portions of their stash at once because they know that the consequence of such a dump will the decreasing of the Bitcoin price. This is not what they want for sure.
The price will definitely go up as the adoption rate increases and the supply will decrease. I don't see any danger unless all the early adopters plan to sell all the bitcoins they have at the same time.
Even if they all sell, the price will dip briefly. Even if the price dip period is one or two years, it is still short in long term.
The price dropped from $1200 in 2013 to $380 in 2016. That is just 3 years. If bitcoin exists for 100 years, 3 years is just very short term.
The price will definitely go up as the adoption rate increases and the supply will decrease. I don't see any danger unless all the early adopters plan to sell all the bitcoins they have at the same time.
Even if they all sell, the price will dip briefly. Even if the price dip period is one or two years, it is still short in long term.
Firstly, it's million, not million.
Secondly, I don't think it's been proven that Satoshi has 1,000,000 bitcoin. People just say that.
Thirdly, it's not the amount Mt Gox stole and all the lost Bitcoin, it's the fear that something like that will happen again that will deter people from using bitcoin. To avoid that, just simply not use an exchange. Just use localbitcoins.com and meet someone in person.
Secondly, I don't think it's been proven that Satoshi has 1,000,000 bitcoin. People just say that.
Thirdly, it's not the amount Mt Gox stole and all the lost Bitcoin, it's the fear that something like that will happen again that will deter people from using bitcoin. To avoid that, just simply not use an exchange. Just use localbitcoins.com and meet someone in person.
I know that after MT GOX problem, a lot of BTC has been lost... And i think some kind of milions have been lost!
What about Cryptsy? Forgot about them 
Lost BTC isn't really an issue, it's gone and most likely never going to be recovered. Stolen BTC could be and will be a problem. Large holders are a question indeed, but if prices go up these whales are unlikely to dump their stash in one go. If they sell then more likely they will sell it in a dark pool to a corporate player or to another whale.
If more and more people keep holding of Bitcoins then it will lead to downfall of bitcoin (Price won't go up as expected) ,the more number of transactions ,more the value of BTC is.
Manipulation is possible yes but unlikely. Satoshi haven't moved any of the coins which could show that he may have forgotten the private keys. Bitcoin lost isn't an issue to the supply, it can be divided further than satoshis if there is even a need to.
Lost bitcoin is a problem at the moment as the value was so long a few years ago. When the value of bitcoin rises in the future, people will not forget it.
It is a good point that several bitcoiners are putting aside, because it seems contradictory that this currency, designed to face the current manipulation and speculation of market, is hold massively for few pioneers. Of course it is not a good deal!
The bitcoin owned by satoshi will be spent eventually. So are the other coins owned by very few people. They should be rewarded for their risk taking.
Manipulation is possible yes but unlikely. Satoshi haven't moved any of the coins which could show that he may have forgotten the private keys. Bitcoin lost isn't an issue to the supply, it can be divided further than satoshis if there is even a need to.
So basicly this guys now have power to move market as they like. And we are in their hands, what they decide we just can follow this wale's. Yes I thin its danger when power is in just one man possession, this is open market people with money have much more possibilities then other, but is there a way for things not to be like that? Some solution and defense from this kind of things ?
How would you feel if all the bitcoins we in the hands of corporate companies? All they want is to make profits of off other people by not doing anything.
I believe that if it was in the hands of 1 single person or a small group of people, they wouldn't do what the corporate companies do. They know for themselves what bitcoin means to people like them.
So basicly this guys now have power to move market as they like. And we are in their hands, what they decide we just can follow this wale's. Yes I thin its danger when power is in just one man possession, this is open market people with money have much more possibilities then other, but is there a way for things not to be like that? Some solution and defense from this kind of things ?
It is a good point that several bitcoiners are putting aside, because it seems contradictory that this currency, designed to face the current manipulation and speculation of market, is hold massively for few pioneers. Of course it is not a good deal!
The price will definitely go up as the adoption rate increases and the supply will decrease. I don't see any danger unless all the early adopters plan to sell all the bitcoins they have at the same time.
I would rather have a million of bitcoins in the hand of a few people rather than corporate companies. I believe that those few people will keep working on bitcoin and not only keep the profits to themselves but wanting to help bitcoin grow and make it a success.
how do they know that the bitcoins have been lost? maybe they are hidden somewhere that we dont know by clever people only to resurface when the prices are high. the bitcoins are held by few people who want to create an artificial shortage. have you ever heard of the term, decrease of supply will lead to an increase in demand which automatically increase the price? so no need to worry because the bitcoin is safe.
no,its not a danger..and dont call Mark Zuckerberg,Bill Gates,Syeikh Mansour and any other bilioner a danger,right?
even that bilioner have so much money,and even they can control it,its not a danger,bitcoin also like that,no one can control bitcoin even they have so many,just focus with your faucet or anything who can give you bitcoin,ruin for biggest bitcoin owner.
even that bilioner have so much money,and even they can control it,its not a danger,bitcoin also like that,no one can control bitcoin even they have so many,just focus with your faucet or anything who can give you bitcoin,ruin for biggest bitcoin owner.
Yes, if someone dumps a big ammount as this one, the price will drop very hard probably
I don't think it will change anything. It's exactly the same thing for fiat money: millions of $ are lost evry year because of the very same causes and it has no effect, it's just replaced by new money!
There is so much difference in fiat and bitcoin economy. Fiat can be replaced by new money if paper money got lost or damaged but bitcon can't be replaced by new ones. You have to remember only 21 million bitcoin can be mined till the end so if any coin get lost it will be decreased from total available coins.
Some coins are indeed lost, but what about the nearly 1,000,000 that Satoshi is supposed to have. Are these coins lost as well? That's something only Satoshi himself knows. He didn't move any of the coins in his wallets even when the price reached +$1000. It might be because he can't access the wallets, or simply because he thinks it will reach a price much higher than $1000.
People need to understand one basic fact. Even if you initially give say: 1 BTC to 21 million of people it won't be ideal solution. Initially everyone will be equal but then some of the more clever, intelligent or vicious individuals would accumulate more and more of other people's coins. Some of these people would go bankrupt and some will gain 10, 100, 100000 of their coins. That is the way it works.
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?
- 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?
If all of the bticoins fall into some banks laps, it will be over for bitcoin, it will just be treated like the dollar. The people profiting from it will be the banks.
If it falls into a hand few of people it still has a chance to stay the way it's going right now. I doubt people like that would detroy bitcoin. There's a reason for them to own that many bitcoins. They will probably secure the supply and demand of bitcoin.
I don't think it will change anything. It's exactly the same thing for fiat money: millions of $ are lost evry year because of the very same causes and it has no effect, it's just replaced by new money!
There is so much difference in fiat and bitcoin economy. Fiat can be replaced by new money if paper money got lost or damaged but bitcon can't be replaced by new ones. You have to remember only 21 million bitcoin can be mined till the end so if any coin get lost it will be decreased from total available coins.
I don't think it will change anything. It's exactly the same thing for fiat money: millions of $ are lost evry year because of the very same causes and it has no effect, it's just replaced by new money!
There is so much difference in fiat and bitcoin economy. Fiat can be replaced by new money if paper money got lost or damaged but bitcon can't be replaced by new ones. You have to remember only 21 million bitcoin can be mined till the end so if any coin get lost it will be decreased from total available coins.
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the btc wasn't really lose, people who stole the btc will make it for buying somethin like what people usually do, and if someone wanted to hold all of btc around the world on his hand its like he just killing himself
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?
- 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?
Must want to comment even something else. Which is as a conclusion of the various data read at internet. Firstly are not millions the bitcoins lost at Mt Gox. Maybe are 1 million or maximum a few more than 1 million, and to tell millions of bitcoins lost for this kind of amounts seems very exaggerated. As for the second case it is again totally wrong. The data read by me (see Wikipedia for more) show that the amount of bitcoin owned by Satoshi Nakamoto are only 1 million. According to Wikipedia: "The public bitcoin transaction log shows that Nakamoto's known wallets contain roughly one million bitcoins." So again it is without sense to tell millions of bitcoins when one credible source give as amount owned by him the above amount told by me.
So must be much more few the bitcoins that are not in market.
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.
We have an inflationary monetary supply when talking about the Bitcoin protocol. However, currently due to the price rises it is effectively the same effect on the Bitcoin ecosystem as one would see from a currency experiencing deflation in, say, the USA.
Lost bitcoin are not problem at all. (I mean for general bitcoin community, if you are the one who lost BTC, its is painful)
Every bitcoin lost makes rest of them worth slightly more, it is like donation for bitcoin community.
And we can't do anything about rich individuals, there is no way to restrict people from having large amount of BTC...
Every bitcoin lost makes rest of them worth slightly more, it is like donation for bitcoin community.
And we can't do anything about rich individuals, there is no way to restrict people from having large amount of BTC...
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.
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.
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?
- 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.
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?
- 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.
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.
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.
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.
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
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
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.
The real reason poor people stay poor is that they prefer to complain rather than do.
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.
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.
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.
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.
Having more money does not make you a danger to the ecosystem.
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.
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.
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
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
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.
But guys called whales are dangerous. They can manipulate and damage market easily.
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
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
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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
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.
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.
So, after all bitcoin lost, how many bitcoin have been lost for u?
what? if all bitcoin lost in universe, lost all :-|
it's never be happens, people won't lose their a precious wealth.
this will actually help the bitcoin price, because there are less supply available, it's a known fact, it's like we have 15M supply cap or something
but the difference will not be that visible now, you must wait adoption to see the effect of this
but the difference will not be that visible now, you must wait adoption to see the effect of this
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?
- 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?
btc lost in universe like you said, the coins available is limited, less supply and more demand, the price will rise.
if millions btc in hand of few people, it's could be in early adopter hands, i think they see bitcoin bright in the future, so they will keep it in safe place.
yawn. no. beaten to death. supposed to work like that. moving on.
If the prices go up, I don't think we'll ever see someone with a large stash to sell in exchange for dollars. With fiat being more and more unstable, these people with large holdings would probably keep btc as is. 
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