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I think it will continue to increase in value for while, as it continues to plumb the depths of “people who haven’t bought in yet”, but that’s eventually going
by FridgeSeal 6y ago
I think it will continue to increase in value for while, as it continues to plumb the depths of “people who haven’t bought in yet”, but that’s eventually going to cap out, and eventually they’re going to run out of coins to mine, and people will catch on and the value (and interest in it) will fall through the floor.
- Kathula 6y ago>I think it will continue to increase in value for while, as it continues to plumb the depths of “people who haven’t bought in yet” How many people do you think owns Bitcoin? And how many people are there in the world? >and eventually they’re going to run out of coins to mine Perfect example of just how uninformed the crowd at hackernews really isn't. You haven't done zero research. If you actually looked it up, you'd know that the block-reward gets cut in half every four years. So "running out of coins to mine" won't be happening until the year 2140, and even then there's incentives for the miners to continue mining.
- riffraff 6y agoI partially agree with both of you, but I think the depths of "people who haven’t bought in yet" are larger than generally estimated: we're at an inflection point where corporate financials will start to think "well, we should own some bitcoins too" and there will be a bit of domino effect there as people try to emulate their "betters". But I think things will crash way before we run out of coins to mine.