Thats a bit like saying miners will mine trillions of tonnes of gold when there is not that much gold on the earth.... good luck with that.
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Bitcoin Price Thread
- Thread starter Magna
- Start date
The rate of production is slowing down to a limit of 21 M limit minus lost coins.
I have not looked at the bitcoin production rate just now but if you say it 4% then from the price action I would say that demand is growing much greater than the 4% production rate.
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Yes, it's a free and open market of Innovation! By default! That has always been the case for 9 years already. The strongest and best, with most miners and users will win, and has to be continuously innovative to keep ahead.
Be aware that it was Litecoin which was the first Alt-coin about 5 years ago, and there after several thousands followed, and still today each day a "new" Alt-coin is invented. Most of them die early, but we still have more than 1000 in this space today.
It really isn't that much different to what is happening in the Social-app space. Thousands of Facebook copies around the world, all fighting for the top spot. But as long as Facebook keeps innovating and attracting people, it will be king.
The same with Bitcoin: if it keeps innovating and keeps most Miners, Exchanges, App-builders, and Users. It has nothing to fear from copycats as it was the case with the thousands Alts before.
As investor I keep a close look to which and how many Developers/Innovators are linked to which coin and with what new features they are working, testing and releasing. By far nearly all hotshots are working on Bitcoin or Ethereum.
About Bcash (with no major developer): with all the Bitcoin-money Rodger Ver has as well as his huge marketing efforts. He clearly fails to prop up his coin. Just look at the BTC/BCH chart and see that he hardly can push his coin above 10% of Bitcoins price. And I read somewhere that his blocks in the blockchain are nearly empty, which means no one is really using it at all.
Crypto-currencies are by DEFAULT living in a Hackers world. They are invented by hackers! They are built to live in a extremely hostile world, getting attacked by design!
Bitcoin is screaming to the world: "please hack me, I want to learn from you where my weaknesses lie, so I can adapt and become stronger". This for 9 years already, it is attacked each and every day by the brightest hackers around the world ($300 billion as incentive).
And no one ever have managed that, and if it happens in future it will adapt and survive stronger.
"Bubbles seem obvious after the fact, but as they are growing very few people are actually able to see what is happening. And sometimes even those who understand the situation still get involved hoping to make an easy dollar. Even famous mathematician Sir Isaac Newton lost money in the South Sea bubble crash." forbes
"If everyone in your family and neighborhood is making money, you may feel like a fool for not participating. It's hard to go against the crowd. It all seems perfectly rational, and many economists will argue that in ways the herd mentality is rational. Many times it's simply that people think this time it's going to be different." forbes
Yes bubbles happen. What other point are you trying to make? Sir Isaac sold early, got greedy, bought back higher at larger volume, then lost a lot. He knew much about science but feck all about trading and the South Sea....
Even if bitcoin is a bubble and follows a South Sea type chart it still does not help you know where we are on the curve just now with bitcoin other than the ramp up. It could be 200, 400, 800..... Tulips and the south Sea were country specific, bitcoin is global.
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You still haven't understood the difference between a Bell-shape and an S-shape innovation!
S-shape will never disappear, and it's very unwise to bet against. Like the horse-man did when the Car arrived, or the Fax-machines when Internet-email popped up.
How is your Short Future trade doing?