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Showing 5 of 5 results by sebamatusr
in future we may well see more sellers setting prices purely in BTC terms, e.g. selling a T-shirt for BTC2 (or in a "far future" scenario, maybe BTC0,002! 
) regardless of the BTC/$ exchange rate
) regardless of the BTC/$ exchange rateOkay. So if bitcoin value rises, it would be a good thing for miners but a bad thing for people who want to invest fiat money in BTC?
Am I not seeing something? [Bitcoin value = exchange rate]? or am I mixing stuff?
Very interesting thread, I've got a few questions (noob questions).
A hypothetical raise in bitcoin prices, whether it's because of rewards being halved or an increasing interest from the general public in this currency, would only affect people who is already IN the market, legacy miners/customers sort of speak?
I ask this because bitcoin is still valued in ordinary currencies (USD/EU etc) so, new customers/miners would get their bitcoins, but if they want to sell/buy anything involving bitcoins, the prices are still going to be listed in USD/EU.
For example:
Bitcoin now (mt.gox) = 12 usd
Bitcoin in a far future = 50 usd
T-shirt now = 50 usd
T-shirt in a far future = 50 usd
That would mean if you want to buy the t-shirt, you would have to spend 50 dollars either way, the difference being, now you'd have to buy ~4BTC at a 12 usd price, an in the future just 1BTC at 50usd, but the price is still the same.
I'm a little confused so I would appreciate if someone could explain this to me.
A hypothetical raise in bitcoin prices, whether it's because of rewards being halved or an increasing interest from the general public in this currency, would only affect people who is already IN the market, legacy miners/customers sort of speak?
I ask this because bitcoin is still valued in ordinary currencies (USD/EU etc) so, new customers/miners would get their bitcoins, but if they want to sell/buy anything involving bitcoins, the prices are still going to be listed in USD/EU.
For example:
Bitcoin now (mt.gox) = 12 usd
Bitcoin in a far future = 50 usd
T-shirt now = 50 usd
T-shirt in a far future = 50 usd
That would mean if you want to buy the t-shirt, you would have to spend 50 dollars either way, the difference being, now you'd have to buy ~4BTC at a 12 usd price, an in the future just 1BTC at 50usd, but the price is still the same.
I'm a little confused so I would appreciate if someone could explain this to me.
Best way you be to just memorise if you can 
I assume you're talking about the passphrase, well that's not entirely adecuate, because id something were to happen to you, nobody is going to be able to take the money from your account, so you can write it down and put it in a safebox, where your family can access it and in case of any sudden death, they will be able to use the money.
