Quote from: osmosis on September 06, 2011, 08:19:22 PM

Quote from: the founder (FlexCoin) on September 06, 2011, 05:52:46 PM

this is why it's down... period. end of discussion.

http://www.flexcoin.com/calc

It's just pure economics.. nothing more. nothing less.

"This number is the absolute fact of what is needed to be added to the bitcoin community in order to keep prices stable. This number can be a mixture of dollars, yen, euros, gold, silver or whatever currency of choice. It can also be the dollar value of services and products being bought for bitcoins (not just offered) but the total dollar figure MUST equal the amount listed above."

I know its a fact that 216,000 new bitcoins are minted each month, but I dont see that it necessarily correlates with the price. You are assuming that 216,000 new bitcoins are being sold each month. If a miner is minting these coins and simply holding them because he believes they will be worth more in the future, then they would not in any way effect the current exchange rate. I do not know how many miners are holding their coins for the future, and how many miners are dumping their coins on the exchanges.

If he mines them and holds them, he is effectively buying then since there are costs to acquiring and he is passing up the opportunity to sell them.