Author: gork

Bitcoin will Revolutionise FX/International Xfer Market   [Copy link] 中文

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Post time 2013-11-20 23:31:27 |Display all floors
BitCoin Inflation Rate

To compensate for the growing power of computer chips, the difficulty of the puzzles is adjusted to ensure a steady stream of about 3,600 new bitcoins a day.

There are currently about 11 million bitcoins in existence.

- 'Legitimate' Bitcoin's value soars after Senate hearing

Wow! That's an annualised, instantaneous rate of inflation of 12.7%! And it's still rising relative to paper currencies.

Of course, BitCoin, has no physical presence and so its value is the same as for a Ponzi scheme, the rise in BitCoin's exchange rate is merely an adjustment to the number of users adopting it.

In less than seven years, there will be no new BitCoins and it's difficult to see who will bother to verify the transactions. In fact, the more popular the currency, the quicker the mining process will use up all the BitCoins.

What then? Will they then swap 1,000 BitCoins for one of BitCoins competitors and continue?
Compounding is the magic ingredient.

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Post time 2013-11-20 23:48:16 |Display all floors
read bout tis bitcoin thing few yrs back still dunno much bout it but it seems like china is catchin it & the US is skeptical bout it just have to wait & see (by the time that i get it already too freakin late like anythin else)  {:soso_e113:}{:soso_e135:}
a man who uses his hands is a laborer. one who uses his hands and his mind is a craftsman. but he who uses his hands, his mind, and his heart, is an artist...

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Post time 2013-11-21 03:59:41 |Display all floors
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Post time 2013-11-21 04:06:38 |Display all floors
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Post time 2013-11-21 04:14:32 |Display all floors
LaughsatYou Post time: 2013-11-20 11:59
Bitcoin is dead in the water.

It will never come even close to money, gold, or any other real curre ...

would like somebody to trace what you have...OK then why not bitcoin  
a man who uses his hands is a laborer. one who uses his hands and his mind is a craftsman. but he who uses his hands, his mind, and his heart, is an artist...

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Post time 2013-11-21 04:53:38 |Display all floors
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Post time 2013-11-21 05:20:33 |Display all floors
LaughsatYou Post time: 2013-11-20 12:53
Because no one wants bitcoins except people trying to hide what they do and people trying to make  ...

economy like what we have now...better go with bitcoin to $ave some transaction fee  
a man who uses his hands is a laborer. one who uses his hands and his mind is a craftsman. but he who uses his hands, his mind, and his heart, is an artist...

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