What if someone wants to buy out Bitcoin - page 2.

tee-rex

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Quote from: Leina on July 08, 2014, 04:53:23 PM

Quote from: CoinDiver on July 08, 2014, 04:33:54 PM

Can we make an FAQ sticky for questions like this? It's an ignorant (no disrespect intended) question, that gets asked several times with every new crop of adopters.

Even if there is a FAQ, it is extremely unlikely that people will read it before posting question.

Threads with the most frequently asked questions (like this one) could be stickied in the Novice section of the forum (and new users should be allowed to write posts only there).

Leina

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Quote from: CoinDiver on July 08, 2014, 04:33:54 PM

Can we make an FAQ sticky for questions like this? It's an ignorant (no disrespect intended) question, that gets asked several times with every new crop of adopters.

Even if there is a FAQ, it is extremely unlikely that people will read it before posting question.

Erdogan

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Quote from: CoinDiver on July 08, 2014, 04:33:54 PM

Can we make an FAQ sticky for questions like this? It's an ignorant (no disrespect intended) question, that gets asked several times with every new crop of adopters.

That's how we know that we have got a new batch of bitcoiners into the fold.

CoinDiver

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Can we make an FAQ sticky for questions like this? It's an ignorant (no disrespect intended) question, that gets asked several times with every new crop of adopters.

tee-rex

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Quote from: cr1776 on July 08, 2014, 01:27:08 PM

Quote from: tee-rex on July 08, 2014, 10:57:24 AM

Quote from: cr1776 on July 08, 2014, 10:52:47 AM

Quote from: tee-rex on July 08, 2014, 10:49:52 AM

If they are not for sale (that is don't circulate), they can be considered as lost.

No. Just because you own a car and don't want to sell it does not mean it is lost. Ditto for bitcoin, gold, silver, diamonds, real estate or anything else.

If they never come into circulation again, then yes, they are lost. And even if they do enter into circulation somewhere in the distant future, today they can be safely considered as lost too.

Again, true, but that is changing the statement and not the same as saying that if I don't have my coins on the market right now, that they are lost.

I said that your coins could be considered as lost, as long as they wouldn't be in circulation. I changed the statement but didn't change the meaning. The effect is absolutely the same as if they were actually irrevocably lost. Until the moment they come into circulation again indeed. Then the effect is reversed to a degree.

Skele

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Quote from: PolarPoint on July 08, 2014, 10:42:25 AM

If someone owns a majority of all the bitcoin, the function of it being a currency will be lost because no one can use it. Wouldn't the value of bitcoin actually falls?

If someone holds the majority of all the Bitcoin, remaining ones would be invaluable i guess, the high demand stay still

Erdogan

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Quote from: peeveepee on July 08, 2014, 01:20:54 PM

Quote from: Erdogan on July 08, 2014, 01:09:49 PM

Quote from: odolvlobo on July 08, 2014, 11:08:35 AM

Quote from: cr1776 on July 08, 2014, 10:52:47 AM

Quote from: tee-rex on July 08, 2014, 10:49:52 AM

If they are not for sale (that is don't circulate), they can be considered as lost.

No. Just because you own a car and don't want to sell it does not mean it is lost. Ditto for bitcoin, gold, silver, diamonds, real estate, your mind, or anything else.
It just means they are not on the market.

It really doesn't matter whether they are "lost" or "not on the market", or even who owns them. If 100% of the bitcoins are hoarded, then Bitcoin is dead. The value of hoarded bitcoins is determined by the value of the bitcoins in use. If no bitcoins are in use, then hoarded bitcoins have no value.

It is hard to envision that absolutely all bitcoins are stashed away. We need only one in circulation.

The assumption here is the price will self adjusted to artificially high level.

I do not think people mind work that way.

And the signal from the elevated bitcoin price will lure those saved bitcoins out of their hideouts. That is how peoples minds work. tldr - all coins can not be saved for the long run.

cr1776

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Quote from: tee-rex on July 08, 2014, 10:57:24 AM

Quote from: cr1776 on July 08, 2014, 10:52:47 AM

Quote from: tee-rex on July 08, 2014, 10:49:52 AM

If they are not for sale (that is don't circulate), they can be considered as lost.

No. Just because you own a car and don't want to sell it does not mean it is lost. Ditto for bitcoin, gold, silver, diamonds, real estate or anything else.

If they never come into circulation again, then yes, they are lost. And even if they do enter into circulation somewhere in the distant future, today they can be safely considered as lost too.

Again, true, but that is changing the statement and not the same as saying that if I don't have my coins on the market right now, that they are lost.

cr1776

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Quote from: odolvlobo on July 08, 2014, 11:08:35 AM

Quote from: cr1776 on July 08, 2014, 10:52:47 AM

Quote from: tee-rex on July 08, 2014, 10:49:52 AM

If they are not for sale (that is don't circulate), they can be considered as lost.

No. Just because you own a car and don't want to sell it does not mean it is lost. Ditto for bitcoin, gold, silver, diamonds, real estate, your mind, or anything else.
It just means they are not on the market.

It really doesn't matter whether they are "lost" or "not on the market", or even who owns them. If 100% of the bitcoins are hoarded, then Bitcoin is dead. The value of hoarded bitcoins is determined by the value of the bitcoins in use. If no bitcoins are in use, then hoarded bitcoins have no value.

Of course - I was responding to someone saying that bitcoins that are not on the market are the same as being lost which has nothing to do with having 100% of the coins being hoarded

peeveepee

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Quote from: Erdogan on July 08, 2014, 01:09:49 PM

Quote from: odolvlobo on July 08, 2014, 11:08:35 AM

Quote from: cr1776 on July 08, 2014, 10:52:47 AM

Quote from: tee-rex on July 08, 2014, 10:49:52 AM

If they are not for sale (that is don't circulate), they can be considered as lost.

No. Just because you own a car and don't want to sell it does not mean it is lost. Ditto for bitcoin, gold, silver, diamonds, real estate, your mind, or anything else.
It just means they are not on the market.

It really doesn't matter whether they are "lost" or "not on the market", or even who owns them. If 100% of the bitcoins are hoarded, then Bitcoin is dead. The value of hoarded bitcoins is determined by the value of the bitcoins in use. If no bitcoins are in use, then hoarded bitcoins have no value.

It is hard to envision that absolutely all bitcoins are stashed away. We need only one in circulation.

The assumption here is the price will self adjusted to artificially high level.

I do not think people mind work that way.

Erdogan

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Quote from: odolvlobo on July 08, 2014, 11:08:35 AM

Quote from: cr1776 on July 08, 2014, 10:52:47 AM

Quote from: tee-rex on July 08, 2014, 10:49:52 AM

If they are not for sale (that is don't circulate), they can be considered as lost.

No. Just because you own a car and don't want to sell it does not mean it is lost. Ditto for bitcoin, gold, silver, diamonds, real estate, your mind, or anything else.
It just means they are not on the market.

It really doesn't matter whether they are "lost" or "not on the market", or even who owns them. If 100% of the bitcoins are hoarded, then Bitcoin is dead. The value of hoarded bitcoins is determined by the value of the bitcoins in use. If no bitcoins are in use, then hoarded bitcoins have no value.

It is hard to envision that absolutely all bitcoins are stashed away. We need only one in circulation.

tee-rex

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Quote from: odolvlobo on July 08, 2014, 11:08:35 AM

Quote from: cr1776 on July 08, 2014, 10:52:47 AM

Quote from: tee-rex on July 08, 2014, 10:49:52 AM

If they are not for sale (that is don't circulate), they can be considered as lost.

No. Just because you own a car and don't want to sell it does not mean it is lost. Ditto for bitcoin, gold, silver, diamonds, real estate, your mind, or anything else.
It just means they are not on the market.

It really doesn't matter whether they are "lost" or "not on the market", or even who owns them. If 100% of the bitcoins are hoarded, then Bitcoin is dead. The value of hoarded bitcoins is determined by the value of the bitcoins in use. If no bitcoins are in use, then hoarded bitcoins have no value.

Stashed away money is bad for the economy (as if it didn't exist at all), and this has been known long ago.

odolvlobo

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Quote from: cr1776 on July 08, 2014, 10:52:47 AM

Quote from: tee-rex on July 08, 2014, 10:49:52 AM

If they are not for sale (that is don't circulate), they can be considered as lost.

No. Just because you own a car and don't want to sell it does not mean it is lost. Ditto for bitcoin, gold, silver, diamonds, real estate, your mind, or anything else.
It just means they are not on the market.

It really doesn't matter whether they are "lost" or "not on the market", or even who owns them. If 100% of the bitcoins are hoarded, then Bitcoin is dead. The value of hoarded bitcoins is determined by the value of the bitcoins in use. If no bitcoins are in use, then hoarded bitcoins have no value.

tee-rex

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Quote from: cr1776 on July 08, 2014, 10:52:47 AM

Quote from: tee-rex on July 08, 2014, 10:49:52 AM

If they are not for sale (that is don't circulate), they can be considered as lost.

No. Just because you own a car and don't want to sell it does not mean it is lost. Ditto for bitcoin, gold, silver, diamonds, real estate or anything else.

If they never come into circulation again, then yes, they are lost. And even if they do enter into circulation somewhere in the distant future, today they can be safely considered as lost too.

cr1776

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Quote from: tee-rex on July 08, 2014, 10:49:52 AM

If they are not for sale (that is don't circulate), they can be considered as lost.

No. Just because you own a car and don't want to sell it does not mean it is lost. Ditto for bitcoin, gold, silver, diamonds, real estate, your mind, or anything else.

It just means they are not on the market.

cr1776

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Quote from: InwardContour on July 04, 2014, 10:15:13 PM

I have spoken to a lot of people who had sold the majority of their holdings at various price points that were well under even $250. I think that anyone that was paying attention would have sold their coins well before BTC was trading at $100 as they had these coins that were were virtually nothing and all of a sudden became worth a lot

Lots of people who were paying attention did not sell (or spend) at $1, $33, $100, $260, or $1200. Certainly some did, but many did not.

I think some people would sell a few right now to OP's buyer at $500k each, but I doubt they'd sell them all.

tee-rex

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Quote from: Noruka on July 08, 2014, 09:28:52 AM

impossible.
not all coins are for sale

If they are not for sale (that is don't circulate), they can be considered as lost.

Quote from: PolarPoint on July 08, 2014, 10:42:25 AM

If someone owns a majority of all the bitcoin, the function of it being a currency will be lost because no one can use it. Wouldn't the value of bitcoin actually falls?

According to rpietila and his famous thread, as of April, 2014, 70 people hold together about 3.6M bitcoins, which constitutes more than one forth of all bitcoins minted (mined). Not a majority indeed, but still a great deal.

PolarPoint

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If someone owns a majority of all the bitcoin, the function of it being a currency will be lost because no one can use it. Wouldn't the value of bitcoin actually falls?

Febo

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