Quote from: seleme on January 30, 2014, 03:52:23 PM

Quote from: GaliX on January 30, 2014, 01:40:17 PM

Quote from: bambou on January 30, 2014, 01:27:30 PM

Quote from: mestar on January 30, 2014, 01:24:32 PM

Quote from: windjc on January 30, 2014, 11:30:41 AM

Quote from: jsteelbeam on January 30, 2014, 11:28:50 AM

Quote from: windjc on January 30, 2014, 11:06:10 AM

Quote from: runam0k on January 30, 2014, 10:56:19 AM

Quote from: windjc on January 30, 2014, 10:41:17 AM

But in the next 24-36 months, bitcoin is somewhere between 10k-50k. It simply has to be. The scale at which the entities getting involved now operate scale wise, bitcoin will be forced there. And 17 year olds that mined this useless Internet money will have their minds blown.

Ah, the forced $50,000 per Bitcoin in 2017. Let's see what this means.

If miners decide to sell all their mined Bitcoins, (or 50%), this is how much daily fresh money is needed on the exchanges for the price to be stable:

2014-2016 : $180 million ($90 million daily if 50% sold)
2017-2020: $90 million ($45 million daily) <--- look here
2021-2024: $45 million ($22 million daily)
etc.

Don't forget that they have to sell to cover their electricity costs. So, if Bitcoin is $50,000 in 2017, good luck in finding that daily fifty million dollars.

The US National Debt has continued to increase an average of $2.49 billion per day since sept 30 2012... good luck in finding that too Grin

edit: http://www.brillig.com/debt_clock/

this clock is much better:

http://www.usdebtclock.org/

It's even worse in UK, they have a debt of 160 000 per capita, 3 times more than USA

That's strange, I haven't checked out the facts 'cos quite boring really but I have always understood from the FUD that is spread in the media that things may be bad in the UK, but the USA is much worse. We're all sheep - unless we can be bothered to find out the facts for ourselves.