Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

Quote from: zimmah on June 07, 2016, 06:22:25 PM

Quote from: DaRude on June 07, 2016, 06:11:13 PM

Ughh ingenious Roll Eyes

following that logic lets
Step 1: Increase difficulty 10x fold, thus increasing cost of production for all miners 10x
Step 2: Huh

Step 3: Bitcoin to da moon???

Just have to somehow get the note to investors for them to check the current productions costs before they decide the utility value of BTC and how much they should be willing to pay for BTC

A transaction has 2 sides, a buyer and a seller

Let's assume some people sell for less than the cost of production, eventually they will run out of coins to sell,

No, they won't run out of coins to sell. If the people who own the (what, 16 million?) coins mined up to date, *those coins don't disappear*. They could be sold again and again, at a lower or higher price. Because that's how money works.

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and the only new coins on the market will be either coins that were bought before and resold (usually t a higher price, because no one would like to sell for less than they bought for, unless forced to do so).

Remember BBQ coin? Who forced the shrewd BBQers to sell their precious at a loss? How is it possible that BBQ-flavored ~~monopoly money~~ asset with artificially limited supply is now worthless? According to you, it can only go one way -- to the moon!