There was a big sell off earlier and BTC is still going strong. People are starting to buy again...10K will be the new base soon, how far up will it go?
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The value is in the supply and demand...only a set amount will ever be available, and they aren't all available now, they have to be mined. Mining them cost money, as competition to mine increases so does the cost as folks expand their server capabilities, electricity cost, etc...
And the fact that many businesses are accepting bitcoin now legitimizes the currency.
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Originally posted by topshot View PostThe value is in the supply and demand...only a set amount will ever be available, and they aren't all available now, they have to be mined. Mining them cost money, as competition to mine increases so does the cost as folks expand their server capabilities, electricity cost, etc...
And the fact that many businesses are accepting bitcoin now legitimizes the currency.
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Originally posted by In-Yo-Grill View PostA TBH billionaire emerges...
Wish it was a billion.... it’s only 82,666,666.67
I’ll sell fiddy % of it once it crosses 10,000$ and ride the rest to see what happens
That beings said I wonder how many “original buyers at .03 cents a pop” still own their bitcoins?
I’d imainge 100% sold already and they are all living luxuriously yet miserably knowing they could’ve been sooooooooooo muchhhhhhhhh richerrrrrrrrere if they sold now lolLast edited by 150class; 11-28-2017, 06:16 PM.
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Originally posted by miket View PostWhen they have all been mined, and there is nothing to gain from mining, then what happens? Or the the value decreases and mining is no longer viable? If something has no intrinsic value, only due to supply and demand, and supply is ultimately fixed, isnt it destined to crash?
I do have a question about the mining fees. Who charges and collects the mining fees?
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Originally posted by miket View PostHow do you know the guy who created it ( which apparently has never been identified ) is not banking millions of "real" dollars of investors while it runs up in price/"value"? What makes the price increase other than the desire of people to buy in?
So far bitcoin is working, millions if not billions in and out exchanges everyday. It's world wide and all you need is a cell phone app to any amount of money anywhere. In addition the privacy is nice.
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Originally posted by miket View PostWhen they have all been mined, and there is nothing to gain from mining, then what happens? Or the the value decreases and mining is no longer viable? If something has no intrinsic value, only due to supply and demand, and supply is ultimately fixed, isnt it destined to crash?
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Originally posted by 150class View PostHello peasants.....
Wish it was a billion.... it’s only 82,666,666.67
I’ll sell fiddy % of it once it crosses 10,000$ and ride the rest to see what happens
That beings said I wonder how many “original buyers at .03 cents a pop” still own their bitcoins?
I’d imainge 100% sold already and they are all living luxuriously yet miserably knowing they could’ve been sooooooooooo muchhhhhhhhh richerrrrrrrrere if they sold now lol
Well, the other day Rush was talking about a guy that bought a pizza with bitcoin when it first came out. He had to use a LOT to buy a pizza and is probably kicking himself pretty hard now. That pizza was probably worth at least a million dollars now.
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