Quote
Rising prices will cause people to NEVER (till the heat death of the universe) sell or trade.
Is that your claim? Really? Can't find any flaws in it?
Is that your claim? Really? Can't find any flaws in it?
Not my claim, but look up the thread, ppl saying they'll sell for billions or $infinity if it gets scarce enough.
The discussion was about some entity buying all the bitcoins, and the counter argument was that this was impossible, cause people wouldn't sell them all, because you can't force anyone to sell. Or that the price would get so high it was not feasible to trade it.
My argument is that at that point, bitcoin is no longer useful as a currency, so the malevolent entity would have reached the goal of stopping bitcoin. So he wouldn't have to actually get all 21 million of them. Just enough to stop the liquidity of it.
(P.S: Even though that's my argument, I don't believe that the value will increase infinitely as it gets more scarce. The supply / demand law doesn't work well at extremes for one. Secondly, the bitcoins are not destroyed. The entity still has them, and can dump them at any time. Would you really buy bitcoins at $1000 (or whatever would be considered a high price at that time) a pop, if you knew some entity, let's say a goverment bent on stopping it, had say 10 million bitcoins in their wallet? That would be extremely risky, thus most people would stop buying (or start selling) and stop the price increase.
The discussion is useless. Let whoever make a try at buying "all" bitcoins so that the price will finally rise. I will sell mine at 10$ per coin already. Perhaps a big part at 8 or 6. I need to make up for a lot of costs. Topic postponed until at least 2022 or so.
Nicely stated. 
