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The number of bitcoins is fixed, so price is a solely function of mass adoption. All else being equal, the more people who adopt Bitcoin, the higher its price.

by cs702 13y ago

The number of bitcoins is fixed, so price is a solely function of mass adoption. All else being equal, the more people who adopt Bitcoin, the higher its price.[1] -- [1] http://cs702.wordpress.com/2011/05/29/on-the-potential-adoption-and-price-appreciation-of-bitcoin-in-the-long-run/ http://cs702.wordpress.com/2011/05/29/on-the-potential-adopt... -- Edits: replaced "supply" with "number of bitcoins" and "demand" with "mass adoption," which more accurately convey my thoughts. (Thanks for pointing that out, amalcon!)

wozniacki 13y ago
The Winkelvosses must be laughing all the way to the bank. Must have at least made one trip to cash out a portion, since they first started stashing the coin. [1] [1] http://www.bloomberg.com/video/winklevoss-twins-mine-11m-bitcoin-fortune-dh7Tpl8NTaOaiTgec3dT2g.html http://www.bloomberg.com/video/winklevoss-twins-mine-11m-bit...
- phaus 13y ago
  I don't think anything can put the smile back on their faces due to the fact that they still feel as if someone stole their $100 billion idea.
  - scotty79 13y ago
    They'll soon have a 100bln. Withtout even having an idea. Apart from "let's buy bitcoins".
    - phaus 13y ago
      I'm not sure their BC investment will ever be worth that much. Time will tell though.
- adrianwaj 13y ago
  Those guys should hire bodyguards now.
amalcon 13y ago
Supply does not mean what you think it means, in an economic sense. Economically, supply is how willing people are to sell a commodity. In this sense, BTC supply is definitely not fixed (right now supply is determined mainly by the speculative activity). The demand side of the equation can be debated, but do not pretend that the supply side doesn't exist.
TYPE_FASTER 13y ago
So, it's like a digital form of Beanie Babies?
- tlrobinson 13y ago
  Yes, if you could subdivide and send Beanie Babies around the world in minutes for a few cents.

by cs702 13y ago

wozniacki 13y ago

The Winkelvosses must be laughing all the way to the bank. Must have at least made one trip to cash out a portion, since they first started stashing the coin. [1] [1] http://www.bloomberg.com/video/winklevoss-twins-mine-11m-bitcoin-fortune-dh7Tpl8NTaOaiTgec3dT2g.html http://www.bloomberg.com/video/winklevoss-twins-mine-11m-bit...

phaus 13y ago
I don't think anything can put the smile back on their faces due to the fact that they still feel as if someone stole their $100 billion idea.
- scotty79 13y ago
  They'll soon have a 100bln. Withtout even having an idea. Apart from "let's buy bitcoins".
  - phaus 13y ago
    I'm not sure their BC investment will ever be worth that much. Time will tell though.
adrianwaj 13y ago
Those guys should hire bodyguards now.

amalcon 13y ago

Supply does not mean what you think it means, in an economic sense. Economically, supply is how willing people are to sell a commodity. In this sense, BTC supply is definitely not fixed (right now supply is determined mainly by the speculative activity). The demand side of the equation can be debated, but do not pretend that the supply side doesn't exist.

TYPE_FASTER 13y ago

So, it's like a digital form of Beanie Babies?

tlrobinson 13y ago
Yes, if you could subdivide and send Beanie Babies around the world in minutes for a few cents.