Ninjastic
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Board Bitcoin Discussion
Re: Interesting Statistic: $79,200 of new money going into bitcoin every day - more
by
Trader Steve
on 17/08/2011, 16:17:11 UTC
Quote from: cunicula on August 17, 2011, 11:36:32 AM
Quote from: Trader Steve on August 16, 2011, 06:33:24 PM
Quote from: Gabi on August 16, 2011, 06:28:54 PM
Quote
50 new bitcoins enter the total supply every ten minutes.

You are implying every miner sell their BTC as soon as they mine them

This is of course false, so far i have sold 0 BTC for example.

When you don't sell them you are signaling to the market that you value them more than the $11 - hence you are buying them.

That's fair, but wouldn't you feel better about the system if the coins were all being traded? As it is, the markets are not very deep.

Not really. See:
Bitcoin and the Virtue of Hoarding and Deflation
http://economicsandliberty.wordpress.com/2011/06/10/bitcoin-and-the-virtue-of-hoarding-and-deflation/