MonkeyF0cker Posted September 9, 2018 Report Share Posted September 9, 2018 “The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.” -Vitalik Buterin https://www.ccn.com/why-ethereum-co-creator-believes-days-of-1000x-crypto-growth-is-gone/amp/ Quote Link to comment Share on other sites More sharing options...
IAG Posted September 9, 2018 Report Share Posted September 9, 2018 “The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.”-Vitalik Buterinhttps://www.ccn.com/why-ethereum-co-creator-believes-days-of-1000x-crypto-growth-is-gone/amp/ Yeah I read that earlier. I’m not looking for 1000% gains. Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted September 9, 2018 Report Share Posted September 9, 2018 Yeah I read that earlier. I’m not looking for 1000% gains.Except that's what created most of the demand. Basic Econ 101 dictates that the price will continue to fall as demand continues to wane and supply stays constant or increases. Quote Link to comment Share on other sites More sharing options...
IAG Posted September 9, 2018 Report Share Posted September 9, 2018 price will continue to fall as demand continues to wane and supply stays constant or increases. Except that the supply will not stay constant or increase. If you don’t like BTC, don’t buy any. Easy. Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted September 9, 2018 Report Share Posted September 9, 2018 Of course, it does. New cryptos are increased supply. And existing cryptos do not reduce the supply of coins in existence (i.e. constant). Quote Link to comment Share on other sites More sharing options...
IAG Posted September 9, 2018 Report Share Posted September 9, 2018 Of course, it does. New cryptos are increased supply. And existing cryptos do not reduce the supply of coins in existence.I’m talking about Bitcoin. Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted September 9, 2018 Report Share Posted September 9, 2018 How is BTC supply being reduced exactly? Quote Link to comment Share on other sites More sharing options...
IAG Posted September 9, 2018 Report Share Posted September 9, 2018 How is BTC supply being reduced exactly?The supply will not increase. I’m not interested in arguing semantics. I don’t care what anybody else does. I have less than zero interest in what anyone else thinks or chooses to do with crypto. I cannot stress that enough. There was a time I did. Times have changed and I’ve made enough money in the space that I am OK with letting my current investment ride. I’m not recommending anybody else do anything. For me it’s the right move. For me. Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted September 9, 2018 Report Share Posted September 9, 2018 Except that the supply will not stay constant or increase. Ok, stubborn. The supply will not stay constant or increase? That leaves one thing left - reduction, which is certainly not happening. Nobody's coins are vanishing over night. And block rewards for miners are increased supply. In the very best case, supply stays constant. Quote Link to comment Share on other sites More sharing options...
IAG Posted September 9, 2018 Report Share Posted September 9, 2018 In the very best case, supply stays constant. I would disagree. With the amount that are lost each year, unless they make changes to the protocol to allow for more than 21 million, supply will decrease. Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted September 9, 2018 Report Share Posted September 9, 2018 I would disagree. With the amount that are lost each year, unless they make changes to the protocol to allow for more than 21 million, supply will decrease.You think there are more coins being lost every 10 minutes than the amount added to circulation with block rewards? I can't see how that's possible. Nobody would use it if that's the case. Just not that many noobs out there these days. Quote Link to comment Share on other sites More sharing options...
IAG Posted September 9, 2018 Report Share Posted September 9, 2018 You think there are more coins being lost every 10 minutes than the amount added to circulation with block rewards? I can't see how that's possible. Nobody would use it if that's the case.Just not that many noobs out there these days. You said the supply would not be reduced over time. if there are ANY lost, it would mean that there can only be a reduced amount. There cannot ever be more...unless protocol is changed. I am not referring to the current total spendable supply....that may be where we are missing each other’s point. I’m looking down the road considering the current algorithm. Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted September 9, 2018 Report Share Posted September 9, 2018 You said the supply would not be reduced over time. if there are ANY lost, it would mean that there can only be a reduced amount. There cannot ever be more...unless protocol is changed. I am not referring to the current total spendable supply....that may be where we are missing each other’s point. I’m looking down the road considering the current algorithm. There are coins not in circulation until they are rewarded to miners. So, the supply is always increasing. That's what block rewards are. If you want to get technical with not referring to "the current total spendable supply", the number of BTC would never be reduced. Even if coins are lost, they still exist. Just as unmined rewards exist. Quote Link to comment Share on other sites More sharing options...
IAG Posted September 9, 2018 Report Share Posted September 9, 2018 There are coins not in circulation until they are rewarded to miners. So, the supply is always increasing. That's what block rewards are. I understand that....but the block rewards will continue to be decreased. They will be cut by 50 percent in less than two years. Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted September 9, 2018 Report Share Posted September 9, 2018 I understand that....but the block rewards will continue to be decreased. They will be cut by 50 percent in less than two years. They keep halving forever. They never go to zero. Quote Link to comment Share on other sites More sharing options...
IAG Posted September 9, 2018 Report Share Posted September 9, 2018 They keep halving forever. They never go to zero.Not after the 21 million have been mined. Aprox date 2040. Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted September 9, 2018 Report Share Posted September 9, 2018 2140. They can halve down to 0.00000001 BTC rewards. Quote Link to comment Share on other sites More sharing options...
IAG Posted September 9, 2018 Report Share Posted September 9, 2018 2140. They can halve down to 0.00000001 BTC rewards.Yeah whenever it is, my point is valid that they don’t continue to mine bitcoin. There will be an end, and a fixed supply..and it will be less than 21 million. Now whether there will be any demand to go with the supply is anyone’s guess. I wish I was going to be around to find out. May know before I die....hope not. Quote Link to comment Share on other sites More sharing options...
Henry “reload” Hill Posted September 9, 2018 Report Share Posted September 9, 2018 Yeah whenever it is, my point is valid that they don’t continue to mine bitcoin. There will be an end, and a fixed supply..and it will be less than 21 million. Now whether there will be any demand to go with the supply is anyone’s guess. I wish I was going to be around to find out. May know before I die....hope not.IAG, on this beautiful Sunday morning, will you indulge me with today’s color, type, and material? Thanks gorgeous Quote Link to comment Share on other sites More sharing options...
IAG Posted September 9, 2018 Report Share Posted September 9, 2018 IAG, on this beautiful Sunday morning, will you indulge me with today’s color, type, and material? Thanks gorgeousSorry pal...not your birthday, Quote Link to comment Share on other sites More sharing options...
Henry “reload” Hill Posted September 9, 2018 Report Share Posted September 9, 2018 Sorry pal...not your birthday,But you didn’t in my birthday. Gotta make up for it. I think I know though so it’s all good. Quote Link to comment Share on other sites More sharing options...
IAG Posted September 9, 2018 Report Share Posted September 9, 2018 But you didn’t in my birthday. Gotta make up for it. I think I know though so it’s all good. That’s because you got banned. Banning voids any non-existent Birthday requirement. Quote Link to comment Share on other sites More sharing options...
Yanks Posted September 9, 2018 Report Share Posted September 9, 2018 IAG, on this beautiful Sunday morning, will you indulge me with today’s color, type, and material? Thanks gorgeousBye Quote Link to comment Share on other sites More sharing options...
IAG Posted September 9, 2018 Report Share Posted September 9, 2018 Lol Quote Link to comment Share on other sites More sharing options...
MonkeyF0cker Posted December 7, 2018 Report Share Posted December 7, 2018 EOS with a 1 handle. ETH hovering around $90. BTC down to roughly $3500. Quote Link to comment Share on other sites More sharing options...
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