Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
bitebits
on 12/09/2015, 08:40:01 UTC
"Zero cost"... Aside from the cost of nearly every major hodler of bitcoin dumping them instantaneously if the 21 mil cap is put in serious jeopardy.
I don't think however that the introduction of extra inflation into bitcoin -- say, 1% per year, beyond the block rewards -- would necessarily induce all holders to dump, and the price to crash.
We will see what happens after the block reward drops below <1% of the total supply. But that is 20 years from now (wiki), a bit of a non-issue at the moment:

Quote from: wiki article
1260000   7   0.78125000   20671875.00000000   164062.50000000   20835937.50000000   0.79365079%   99.21875011%

That is not "cost".  Even if bitcoins lose all their value, no resources or concrete assets will be destroyed.  The world will not become any poorer. Only, a few hundred thousand people the current bitcoin holders
True.

I still believe that bitcoin's price will go to zero in a few years
Zero what exactly? Dollars? Nah, there will always be a few rebels like yourself and me that put a certain value to Bitcoin. Not sure how you can keep stubbornly repeating this like a mantra, bitcoin != Bitcoin. Currently those rebels value a bitcoin at $240 a piece, quite awesome when you think about it.