4 ms·
I sold at $22 thinking the bubble was going to burst soon. Damnit. There's an understanding that a few big players have a lot of the total amount of bitcoins i
by bfwi 14y ago
I sold at $22 thinking the bubble was going to burst soon. Damnit.
There's an understanding that a few big players have a lot of the total amount of bitcoins in circulation. This price must be extremely tempting for them to sell at. That could cause a crash like last time. I would be careful of buying at the current price.
- nwh 14y agoThere's also a lot of early bitcoin that has been lost entirely, which probably skews the market a little bit.
- andypants 14y agoI feel like I should go on my old laptop and dig up my ~0.5 bitcoins. I wonder just how many bitcoins have been permanently lost already.
- zenon 14y agoIf it goes high enough, it will be worth mining trashed HDs for lost wallets.
- nwh 14y agoEarly in the blockchain there are thousands of addresses with a single 50BTC block reward in them. Presumably people downloaded the client, mined a block and got bored. At that time you could only mine using Bitcoin-QT, which reuses the same addresses for each block reward. Most, if not all coins mined in this way are lost forever.
- vitno 14y agoI have a few on my old desktop in my parents garage from the CPU mining days. If bitcoins REALLY take off, I'm gonna have to recover them.
- pyre 14y agoIf it does take off, and your drive didn't store well, you'll be facepalming. :P
- jplur 14y agoUg, somewhere I have a failed SSD with 10 of them on it.
- lucb1e 14y agoMe at $24 by accident (stupid misclick on Mt. Gox, and didn't think paying the trade fee again would be worth it). Wanted to wait till $27, then the socks I bought would have been free. Free, as in, I earned them back. I do wonder from whom I stole though; these socks cost labor but I did pay the laborer. Then the price rose and I got an equal amount of euros back as I put in. Who did I steal from, the Bitcoin community in general?
- rubyrescue 14y agoit's the same with stock price. say there's a giant correction. the value disappears. it wasn't stolen from anyone. the same way the global economy has grown over thousands of years, and people are much wealthier - that isn't because they stole from anyone but the total value of the entire economy grew and "everyone" became wealthier.
- lucb1e 14y agoHmm I think I understand. It's hard to wrap my head around though: I gained socks (and didn't loose money), the sock maker gained money but lost time and resources, but nobody's money was stolen.
- deleted 14y ago[deleted]