Re: Those that dream of $1200/bitcoin can thank this man.
To remember that big businesses are accepting bitcoin to sell their products. Microsoft, Dell or another monsters of business are not stupid that accept bitcoin at the place of the fiat money. If the bitcoin has not perspective they lost money and they are not so stupid to accept this.
Do you want to know the truth??? ... the amount of legitimate "transactions" for businesses through bitcoin is humiliating and depressingly small ... and those companies "accept bitcoin" for free publicity and press but to be honest it doesn't do JACK SQUAT for their business ...
they also LIQUIDATE the bitcoin IMMEDIATELY so that they assure that they have cash on hand for that transaction... so they pretty much use bitcoin as a facilitating contract transaction with a smaller clearing house for the payments ....
Addition: http://www.businessinsider.com/dell-becomes-biggest-company-to-accept-bitcoin-internationally-2015-2
Their biggest purchase from bitcoin was a "$50,000" purchase for a server using BITCOIN ... you know how SMALL of a purchase that is ...
that is BARELY even a SERVER RACK ... which a fully optimized rack would go for $200,000 -$400,000 and companies spend $1,000,000++ on one purchase from DELL not $50,000 that's like a drop compared to a full gallon of water.
I don't think you understood what it means to "create $1 million" ...
The CEO created 1 million dollars in "assets" by himself aka you changing a few digits along with other factors like WILLY BOT ... which is well documented
Also to n2004al ... please relearn about supply and demand and the "death spiral" of assets .... every year 5% of bitcoins are lost and that's year over year so thus far a total of 30% of ALL bitcoins to date are "LOST" ...
which means that the price shouldn't be at "2xx" levels ... and from your speculation I don't think you understand how many people actually put bitcoin into use in terms of active wallets and total amount of wallets with 1 bitcoin or more ...
The CEO created 1 million dollars in "assets" by himself aka you changing a few digits along with other factors like WILLY BOT ... which is well documented
Also to n2004al ... please relearn about supply and demand and the "death spiral" of assets .... every year 5% of bitcoins are lost and that's year over year so thus far a total of 30% of ALL bitcoins to date are "LOST" ...
which means that the price shouldn't be at "2xx" levels ... and from your speculation I don't think you understand how many people actually put bitcoin into use in terms of active wallets and total amount of wallets with 1 bitcoin or more ...
5% of bitcoins lost every year?
Where did you get the number from?
Seriously... Do you not do any research at all Brewins?
take some time out of your day to enlighten yourself about assets especially about depreciation assets that don't regenerate ...
here are some articles for you:
http://www.telegraph.co.uk/technology/news/11362827/The-625m-lost-forever-the-phenomenon-of-disappearing-Bitcoins.html
https://letstalkbitcoin.com/blog/post/rise-of-the-zombie-bitcoins
Side note: for brewins , if you have no clue about any of these metrics you are far out of the game like most of the people in bitcoin are...
no you can't simply trust random source and say they are right, at present there is no good way to determinate how many coins are lost each year and surely not in such a precisely way, like you said 5%...
there is only a roughly estimate about that numbers, which is probably wrong by a long shot, and anyway the lost coins will not affect the market so much, as many think, a 50% loss will equated a 100% more price nothing more
so 30% loss is equal to a less than +50% in price
http://i.imgur.com/PZljCvE.png
^^^^^^^Addition: Knowing how lazy many of you are to read the article here is one of the many charts.
AMPH, You litterally didn't even read through the ARTICLE ....
How I can tell ...
because if you did then you can tell that by using statistics and date/data analysis of wallets and "inactive vs active accounts" using a regression charts back to 2010 and before then ... and from there you can extrapolate from that data... if you had any brains to understand metrics and data you would be able to understand the concept. But I can tell that from your past post that you are full bullish for bitcoin and have this cover of wool over your eyes to shield it from anything that you don't want to accept... but it all basically comes down to the numbers ... also in the articles the engineer basically points out those facts for you and accounting for cold storage and coin washing ... etc
TO MIRACAL What will be the incentive for miners within the next 5-10 years as the halvings and difficulty gets higher?? and then what happens when the rewards gets to 6btc or even 1 btc or less?? who would be paying those cost for the miners? Also I am sure you have heard of the quote "The future of money is not bitcoin and the future of bitcoin is not money" and bitcoin is not money in fact(look up my previous post I have several covering that topic) ... also the infrastructure for bitcoin , even though its "decentralized" runs into exchanges and miner guilds in order to keep it running what happens when ONE or even BOTH fails?!?! what then?? And currently only 250,000 active bitcoin users with a wallet of 1.5 bitcoins or more... so purely all that exchange of bitcoin on the exchanges for those prices are ... well you guessed it! manipulated by the short flow of bitcoins in the exchange!
side note: Amph you should really read those articles because you sound ignorant when responding without even reading or having the prior knowledge of the articles when commenting....