Topic: Within 10 years we will all own more than 21 Million Bitcoins each (Read 1470 times)
We will not have that many Bitcoins per person that is I think not even possible. Do you know how much money that is right there. We would all become billionaires if that happened.
June 09, 2016, 01:47:24 AM
If you keep the bitcoin in your own wallet and do not save them in banks, exchanges, then there will be no inflated coins.
June 09, 2016, 01:28:38 AM
Fine OP has a good point, if bitcoin future is traded in CME, then people will bet on future instead of actual Bitcoin. This is the conspiracy theory regarding Gold.
Personally I think we should all boycott Bitcoin future, Bitcoin ETF etc. If a person think Bitcoin will go up in value, buy the Bitcoin ,not ETF, not future.
Personally I think we should all boycott Bitcoin future, Bitcoin ETF etc. If a person think Bitcoin will go up in value, buy the Bitcoin ,not ETF, not future.
June 08, 2016, 11:51:40 PM
thats how exchanges work
all commodities including oil
everything is leveraged out
X 100,000
of what actually exists
all commodities including oil
everything is leveraged out
X 100,000
of what actually exists
you obviously have no idea how leverage on trading exchanges work.
June 08, 2016, 08:06:04 PM
If you are shorting bitcoin with a 10X margin, would you expect to control the private keys?
Nope. But I'm shorting with the expectation of withdrawing the spoils from the exchange to a place where I do control the private keys. If they can't supply that then they're not going to last very long.
But probably long enough to part xhomerx10 from his bitcoin.
Another Hero member asking noob questions. Like you might hold the priv key if you 10x margin.
Sorry if i'm missing the humour?
No humour intended. I'm trying to make people think.
You would be playing with more bitcoins than you control.
To address your concerns about my status. Posting more messages than a noob doesn't make me any smarter. Also,
I don't trade. I mine, buy and hodl.
June 08, 2016, 06:20:32 PM
Only the 21 million bitcoins will ever be the real ones.
Those people that hold bitcoin derivatives or IOU's are being scammed.
In a deflationary collapse, the real bitcoin's price will rise.
Those people that hold bitcoin derivatives or IOU's are being scammed.
In a deflationary collapse, the real bitcoin's price will rise.
June 08, 2016, 02:59:35 PM
The general public would have no interest in withdrawing the bitcoin though, just the profits in cash.
Therefore the hard limit of bitcoin is irrelevant.
Therefore the hard limit of bitcoin is irrelevant.
What are you talking about 
you can move, store and take control of your coins anywhere there's a connection and some modest hardware.
You'll instantly know it's the real deal and it's a piece of piss to secure and just as easy to sell should the need arise. That's kind of the entire point of the whole thing.
You'll instantly know it's the real deal and it's a piece of piss to secure and just as easy to sell should the need arise. That's kind of the entire point of the whole thing.
Snipped for simplicity.
June 08, 2016, 02:57:24 PM
If you are shorting bitcoin with a 10X margin, would you expect to control the private keys?
Nope. But I'm shorting with the expectation of withdrawing the spoils from the exchange to a place where I do control the private keys. If they can't supply that then they're not going to last very long.
But probably long enough to part xhomerx10 from his bitcoin.
Another Hero member asking noob questions. Like you might hold the priv key if you 10x margin.
Sorry if i'm missing the humour?
June 08, 2016, 02:55:35 PM
Well it is if the exchange is insolvent and that's decided by the ability to withdraw coins and fiat.
June 08, 2016, 02:51:47 PM
The general public would have no interest in withdrawing the bitcoin though, just the profits in cash.
Therefore the hard limit of bitcoin is irrelevant.
Therefore the hard limit of bitcoin is irrelevant.
June 08, 2016, 02:48:57 PM
If you are shorting bitcoin with a 10X margin, would you expect to control the private keys?
Nope. But I'm shorting with the expectation of withdrawing the spoils from the exchange to a place where I do control the private keys. If they can't supply that then they're not going to last very long.
June 08, 2016, 02:47:01 PM
The reactions to OP are very polarized yet few are based on fact. Can bitcoin certificates be issued? How does a bitcoin ETF work? (they certainly exist). If you are shorting bitcoin with a 10X margin, would you expect to control the private keys?
June 08, 2016, 02:43:12 PM
You could always have future contracts for bitcoins with 100x the size of the actual bitcoin market.
June 08, 2016, 02:39:30 PM
This sounds like some conspiracy theory. I heard some story's how there is enough oil for next thousand years, but government's hiding the truth about it.
OP made some calculation and in his mind there is logic, but for rest of use is too hard to see it. I don't think he is right, but let's wait and see what will happen. In the case he is right truth will show her self soon.
OP made some calculation and in his mind there is logic, but for rest of use is too hard to see it. I don't think he is right, but let's wait and see what will happen. In the case he is right truth will show her self soon.
June 08, 2016, 02:31:10 PM
What are you talking about
you can move, store and take control of your coins anywhere there's a connection and some modest hardware.
You'll instantly know it's the real deal and it's a piece of piss to secure and just as easy to sell should the need arise. That's kind of the entire point of the whole thing.
You'll instantly know it's the real deal and it's a piece of piss to secure and just as easy to sell should the need arise. That's kind of the entire point of the whole thing.
Snipped for simplicity.
June 08, 2016, 02:28:17 PM
You certainly don't have the feintest idea on how bitcoin works. If you knew something about it you would know that the total supply of bitcoin is only 21 millions and there is no possibilitty of more being issued.
You would be probably better of with some reading. check more about bitcoin here:
https://en.wikipedia.org/wiki/Bitcoin
You would be probably better of with some reading. check more about bitcoin here:
https://en.wikipedia.org/wiki/Bitcoin
June 08, 2016, 02:27:57 PM
You could, technically speaking, but to my knowledge there is nothing that prevents companies from lying to you in the report or giving you falsified data alongside whatever else they want you to know.
Then they'll keep on failing and imploding until there are companies which can deliver the goods. That shoddiness can only limp on for so long.
One day we might get a decent exchange, but everyone wants to make money somehow and exchange owners are no exception.
June 08, 2016, 02:23:26 PM
We are like 100 000 000 000 000 000 000x more technical literate than most people. People will store it on an exchange because they are stupid and ignore peoples warnings.
True indeed, but there wouldn't be an exchange with countless millions of customers unless it was massively visible, very well backed and no doubt regulated to the hilt.
I don't think adoption would advance much further without holding technically illiterate hands.
No doubt there will be attempts to debase it but at least it gives you the option of opting out and exposing it.
June 08, 2016, 02:22:10 PM
You could, technically speaking, but to my knowledge there is nothing that prevents companies from lying to you in the report or giving you falsified data alongside whatever else they want you to know.
Then they'll keep on failing and imploding until there are companies which can deliver the goods. That shoddiness can only limp on for so long.
The gov might make it Illegal to withdraw your coins :S.. it has been done MANY times in the past with fiat.
June 08, 2016, 02:19:33 PM
all commodities including oil
The commodities u r talking about does not have a public ledger. It is true that some exchanges are involved into fractional reserve trading. But, if volume goes up on their exchange and their calculation does not work as expected, they'll soon turn into a Gox or Cryptsy. People will lose coins, but as bailout is not possible in bitcoin, virtual supply wont dramatically increase.You guys need to understand the average person is amazingly stupid when it comes to money and monetary items. Like levels of stupid you did not think were possible.
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