Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23886.

noobtrader

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Quote from: Silverspoon on December 29, 2014, 10:42:27 AM

Quote from: noobtrader on December 29, 2014, 10:37:00 AM

i wonder where he get the magic number 15% ?

this https://bitcointalksearch.org/topic/bitcoin-yearly-inflation-rate-28632
show that there are about 10-12.5 % inflation atm

I think i see the problem

Quote from: bitrick on July 13, 2011, 04:48:23 PM

[...]
(These are made up numbers)
[...]

sarcasm on

Quote

yeah riiight... the math behind bitcorn is just a made up numbers...

sarcasm off

Silverspoon

member

Activity: 112

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Quote from: noobtrader on December 29, 2014, 10:37:00 AM

i wonder where he get the magic number 15% ?

this https://bitcointalksearch.org/topic/bitcoin-yearly-inflation-rate-28632
show that there are about 10-12.5 % inflation atm

I think i see the problem

Quote from: bitrick on July 13, 2011, 04:48:23 PM

[...]
(These are made up numbers)
[...]

noobtrader

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Activity: 1456

Merit: 1000

Quote from: Silverspoon on December 29, 2014, 10:38:47 AM

Quote from: madmat on December 29, 2014, 10:25:14 AM

Quote from: Silverspoon on December 29, 2014, 10:19:28 AM

Quote from: dakota neat on December 29, 2014, 09:49:50 AM

Quote from: Silverspoon on December 29, 2014, 09:43:53 AM

Quote from: dakota neat on December 29, 2014, 09:40:49 AM

Quote from: Silverspoon on December 29, 2014, 09:37:41 AM

^I take it you've already spent all of your money on bitcoin when it was trading at a much higher price. Otherwise you'd have money to buy some now.

I'm buying with both hands.

Seems like your hands are empty, because no volume.
You're not alone tho, pretty much all of the bitcoin faithful pawned their families a while ago to buy coins, now all they can do is watch.

Holding is a good strategy.

Perhaps, but that's not the point. There are 3,600 bitcoins mined per day when the hashrate is static, more when it is increasing. The majority of these coins are sold to pay for electricity and upkeep of the mines, bills need to be paid. This means that even if every bitcoiner just hodls, new money has to come into the system to maintain the price.

In other words, the bitcoin network is printing money at a rate of around 15% per year. This is just like the FED printing 15% more dollars a year - both debase the underlying currency by 15%.

15% is a lot above reality. 10/11% is a better approximation.

15% is actually pretty close if we're talking YTD. Remember, the difficulty was going up in double digits. In the past 24 hrs, the average time to solve a block is down to 8 min. 37sec. 10 min. blocks would yield 10% inflation, longer=lower inflation; shorter=higher.

ah yes, hashrate is nearing ATH again !
shhh... when will the price get to ATH instead Huh

Silverspoon

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Activity: 112

Merit: 10

Quote from: madmat on December 29, 2014, 10:25:14 AM

Quote from: Silverspoon on December 29, 2014, 10:19:28 AM

Quote from: dakota neat on December 29, 2014, 09:49:50 AM

Quote from: Silverspoon on December 29, 2014, 09:43:53 AM

Quote from: dakota neat on December 29, 2014, 09:40:49 AM

Quote from: Silverspoon on December 29, 2014, 09:37:41 AM

^I take it you've already spent all of your money on bitcoin when it was trading at a much higher price. Otherwise you'd have money to buy some now.

I'm buying with both hands.

Seems like your hands are empty, because no volume.
You're not alone tho, pretty much all of the bitcoin faithful pawned their families a while ago to buy coins, now all they can do is watch.

Holding is a good strategy.

Perhaps, but that's not the point. There are 3,600 bitcoins mined per day when the hashrate is static, more when it is increasing. The majority of these coins are sold to pay for electricity and upkeep of the mines, bills need to be paid. This means that even if every bitcoiner just hodls, new money has to come into the system to maintain the price.

In other words, the bitcoin network is printing money at a rate of around 15% per year. This is just like the FED printing 15% more dollars a year - both debase the underlying currency by 15%.

15% is a lot above reality. 10/11% is a better approximation.

15% is actually pretty close if we're talking YTD. Remember, the difficulty was going up in double digits. In the past 24 hrs, the average time to solve a block is down to 8 min. 37sec. 10 min. blocks would yield 10% inflation, longer=lower inflation; shorter=higher.

noobtrader

legendary

Activity: 1456

Merit: 1000

Quote from: dakota neat on December 29, 2014, 10:26:34 AM

Quote from: Silverspoon on December 29, 2014, 10:19:28 AM

Quote from: dakota neat on December 29, 2014, 09:49:50 AM

Quote from: Silverspoon on December 29, 2014, 09:43:53 AM

Quote from: dakota neat on December 29, 2014, 09:40:49 AM

Quote from: Silverspoon on December 29, 2014, 09:37:41 AM

^I take it you've already spent all of your money on bitcoin when it was trading at a much higher price. Otherwise you'd have money to buy some now.

I'm buying with both hands.

Seems like your hands are empty, because no volume.
You're not alone tho, pretty much all of the bitcoin faithful pawned their families a while ago to buy coins, now all they can do is watch.

Holding is a good strategy.

Perhaps, but that's not the point. There are 3,600 bitcoins mined per day when the hashrate is static, more when it is increasing. The majority of these coins are sold to pay for electricity and upkeep of the mines, bills need to be paid. This means that even if every bitcoiner just hodls, new money has to come into the system to maintain the price.

In other words, the bitcoin network is printing money at a rate of around 15% per year. This is just like the FED printing 15% more dollars a year - both debase the underlying currency by 15%.

I think bitcoin which is up +2251.12% in two years can deal with 15% inflation.

i wonder where he get the magic number 15% ?

this https://bitcointalksearch.org/topic/bitcoin-yearly-inflation-rate-28632
show that there are about 10-12.5 % inflation atm

dakota neat

hero member

Activity: 658

Merit: 500

Quote from: Silverspoon on December 29, 2014, 10:19:28 AM

Quote from: dakota neat on December 29, 2014, 09:49:50 AM

Quote from: Silverspoon on December 29, 2014, 09:43:53 AM

Quote from: dakota neat on December 29, 2014, 09:40:49 AM

Quote from: Silverspoon on December 29, 2014, 09:37:41 AM

^I take it you've already spent all of your money on bitcoin when it was trading at a much higher price. Otherwise you'd have money to buy some now.

I'm buying with both hands.

Seems like your hands are empty, because no volume.
You're not alone tho, pretty much all of the bitcoin faithful pawned their families a while ago to buy coins, now all they can do is watch.

Holding is a good strategy.

Perhaps, but that's not the point. There are 3,600 bitcoins mined per day when the hashrate is static, more when it is increasing. The majority of these coins are sold to pay for electricity and upkeep of the mines, bills need to be paid. This means that even if every bitcoiner just hodls, new money has to come into the system to maintain the price.

In other words, the bitcoin network is printing money at a rate of around 15% per year. This is just like the FED printing 15% more dollars a year - both debase the underlying currency by 15%.

I think bitcoin which is up +2251.12% in two years can deal with 15% inflation.

madmat

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Activity: 966

Merit: 1000

Quote from: Silverspoon on December 29, 2014, 10:19:28 AM

Quote from: dakota neat on December 29, 2014, 09:49:50 AM

Quote from: Silverspoon on December 29, 2014, 09:43:53 AM

Quote from: dakota neat on December 29, 2014, 09:40:49 AM

Quote from: Silverspoon on December 29, 2014, 09:37:41 AM

^I take it you've already spent all of your money on bitcoin when it was trading at a much higher price. Otherwise you'd have money to buy some now.

I'm buying with both hands.

Seems like your hands are empty, because no volume.
You're not alone tho, pretty much all of the bitcoin faithful pawned their families a while ago to buy coins, now all they can do is watch.

Holding is a good strategy.

Perhaps, but that's not the point. There are 3,600 bitcoins mined per day when the hashrate is static, more when it is increasing. The majority of these coins are sold to pay for electricity and upkeep of the mines, bills need to be paid. This means that even if every bitcoiner just hodls, new money has to come into the system to maintain the price.

In other words, the bitcoin network is printing money at a rate of around 15% per year. This is just like the FED printing 15% more dollars a year - both debase the underlying currency by 15%.

15% is a lot above reality. 10/11% is a better approximation.

Fatman3001

legendary

Activity: 1554

Merit: 1014

Make Bitcoin glow with ENIAC

Quote from: Bagatell on December 29, 2014, 09:21:35 AM

Quote from: Fatman3001 on December 29, 2014, 09:17:14 AM

Quote from: Bagatell on December 29, 2014, 08:17:00 AM

Quote from: Fatman3001 on December 29, 2014, 07:47:43 AM

TO DA SECOND LAGRANGE POINT!!!

I can haz L5?

I think it's at L5 now, ie. Lost in Space.

in a self sustaining orbit

lol

Silverspoon

member

Activity: 112

Merit: 10

Quote from: dakota neat on December 29, 2014, 09:49:50 AM

Quote from: Silverspoon on December 29, 2014, 09:43:53 AM

Quote from: dakota neat on December 29, 2014, 09:40:49 AM

Quote from: Silverspoon on December 29, 2014, 09:37:41 AM

^I take it you've already spent all of your money on bitcoin when it was trading at a much higher price. Otherwise you'd have money to buy some now.

I'm buying with both hands.

Seems like your hands are empty, because no volume.
You're not alone tho, pretty much all of the bitcoin faithful pawned their families a while ago to buy coins, now all they can do is watch.

Holding is a good strategy.

Perhaps, but that's not the point. There are 3,600 bitcoins mined per day when the hashrate is static, more when it is increasing. The majority of these coins are sold to pay for electricity and upkeep of the mines, bills need to be paid. This means that even if every bitcoiner just hodls, new money has to come into the system to maintain the price.

In other words, the bitcoin network is printing money at a rate of around 15% per year. This is just like the FED printing 15% more dollars a year - both debase the underlying currency by 15%.

dakota neat

hero member

Activity: 658

Merit: 500

Quote from: findftp on December 29, 2014, 10:15:45 AM

Quote from: dakota neat on December 29, 2014, 09:49:50 AM

Holding is a good strategy.

Strategy for what?

Profit.

findftp

legendary

Activity: 1022

Merit: 1008

Delusional crypto obsessionist

Quote from: dakota neat on December 29, 2014, 09:49:50 AM

Holding is a good strategy.

Strategy for what?

ChartBuddy

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Activity: 2380

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

dakota neat

hero member

Activity: 658

Merit: 500

Quote from: Silverspoon on December 29, 2014, 09:43:53 AM

Quote from: dakota neat on December 29, 2014, 09:40:49 AM

Quote from: Silverspoon on December 29, 2014, 09:37:41 AM

^I take it you've already spent all of your money on bitcoin when it was trading at a much higher price. Otherwise you'd have money to buy some now.

I'm buying with both hands.

Seems like your hands are empty, because no volume.
You're not alone tho, pretty much all of the bitcoin faithful pawned their families a while ago to buy coins, now all they can do is watch.

Holding is a good strategy.

Silverspoon

member

Activity: 112

Merit: 10

Quote from: dakota neat on December 29, 2014, 09:40:49 AM

Quote from: Silverspoon on December 29, 2014, 09:37:41 AM

^I take it you've already spent all of your money on bitcoin when it was trading at a much higher price. Otherwise you'd have money to buy some now.

I'm buying with both hands.

Seems like your hands are empty, because no volume.
You're not alone tho, pretty much all of the bitcoin faithful pawned their families a while ago to buy coins, now all they can do is watch.

BitAddict

legendary

Activity: 1190

Merit: 1001

Quote from: coa032 on December 29, 2014, 08:47:23 AM

Quote from: bitcoinvest on December 29, 2014, 08:32:41 AM

so what are your opinion here? it's a good time to buy?

I think this is perfect time to invest in bitcoin. I mean, all bigger companies have started accepting bitcoin, price is stable as much is it possible...I think from now it can only go up. But that is just a my opinion.

Price stability is a myth. In the last few months price went from $275 to $400, then down to $320, after up to $475 and finally we are now at $300.

Price is now "stable" just because market is deciding where to go next.

dakota neat

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Activity: 658

Merit: 500

Quote from: Silverspoon on December 29, 2014, 09:37:41 AM

^I take it you've already spent all of your money on bitcoin when it was trading at a much higher price. Otherwise you'd have money to buy some now.

I'm buying with both hands.

Silverspoon

member

Activity: 112

Merit: 10

^I take it you've already spent all of your money on bitcoin when it was trading at a much higher price. Otherwise you'd have money to buy some now.

dakota neat

hero member

Activity: 658

Merit: 500

All this bearishness and price still above 300 makes this actually bullish Kiss

Bagatell

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Activity: 722

Merit: 500

Quote from: Fatman3001 on December 29, 2014, 09:17:14 AM

Quote from: Bagatell on December 29, 2014, 08:17:00 AM

Quote from: Fatman3001 on December 29, 2014, 07:47:43 AM

TO DA SECOND LAGRANGE POINT!!!

I can haz L5?

I think it's at L5 now, ie. Lost in Space.

in a self sustaining orbit

gkv9

legendary

Activity: 1246

Merit: 1000

!!! RiSe aBovE ThE StoRm !!!

Quote from: coa032 on December 29, 2014, 08:47:23 AM

Quote from: bitcoinvest on December 29, 2014, 08:32:41 AM

so what are your opinion here? it's a good time to buy?

I think this is perfect time to invest in bitcoin. I mean, all bigger companies have started accepting bitcoin, price is stable as much is it possible...I think from now it can only go up. But that is just a my opinion.

Bigger companies accepting Bitcoins doesn't guarantee people start using it. Also, there is a good news that people will start getting their salaries in Bitcoins... I have read it somewhere but don't know who will start this revolution and which people agreed on this. But I can definitely say one thing, this will not only revolutionize it, but will stabilize the price of Bitcoins too...

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23886. (Read 26711404 times)