Comments for Coineer - The Bitcoin Magazine

Comment on Show Me The Bitcoin! by Imtiaz

Imtiaz — Sat, 25 Aug 2012 22:40:15 +0000

The bitcoin eoconmy dosn’t have deflation at the moment, in the short term (6 months) it will remain in the tail end of a market bubble. For the next 6-9 years it has monetary inflation as more bitcoins continue to be mined. It will take at least a few years for commerce using BTC to create sufficient demand for bitcoins to stop the price being mostly driven by speculation and monetary inflation.Not to mention all the generated but unused coins from 2009 and 2010 that could get dumped if someone finds their old wallet file.

Comment on 2 Bits From The Editor by Xavier

Xavier — Sat, 25 Aug 2012 17:21:08 +0000

Wolf,I’ve read your joke of a blog a few times for laughs, and this story pirovdes no exception to the rule.Do you really think that Coinabul is not exchanging received bitcoin for USD at MtGox IMMEDIATELY into the bid wall? In what world do you think that a gold reseller/affiliate can or WOULD HOLD volatile bitcoins while they pay actual fiat to deliver your gold to you?You have some serious spatial reasoning dysfunction and are at best equivalent to a two dimensional 8th grader, you know the one that has to take basic math in summer school.xDSeriously, Wolf. Get a clue.

Comment on 1 BYTE’s Worth ABOUT BITCOIN by Renata

Renata — Sat, 25 Aug 2012 11:22:01 +0000

This max amount is, by the way, one of the tnhigs I find weird and impractical about the BTC. It’s supposed to be an international currency available to everyone. There’s almost 7 billion people in the world right now, which means the average BTC per person if divided would be 0.003. You should read a bit more about bitcoins before you start commenting if the value of bitcoins is too high, they can be divided into very small pieces. the explosive increase in value will also be the fall of the BTC I’m afraid. People have started to buy bitcoins as if they were stocks because of the rapid growth. It’s kind of like a legal version of insider trading People who do that are missing the point of bitcoin, which is to be used primarily as a currency, and they will suffer as the value of the currency fluctuates. As for the comparison with insider trading, note that insider trading is illegal because it involves the insider profiting from knowledge from inside the tent that the general market doesn’t have yet (i.e. it is unfair). Anyone can buy bitcoins, and no-one knows which way the price will go (they may have a theory, but that’s just speculation, not knowledge), so it is *nothing* like insider trading.Your final point, about liquidity, is important though. If there are lots of bitcoins, and nothing to spend them on, sooner or later your point will come true people will want to convert to dollars and the conversion rate will collapse. However, there are increasingly a number of tnhigs to spend them on. Furthermore, there are many tnhigs (e.g. online virtual goods, in game currencies) that have limited real-world value, but that people pay for and that rise in value over time even though people can never use them or convert them to dollars.

Comment on BITCOIN BUSINESS SPOTLIGHT by Ineis

Ineis — Sat, 25 Aug 2012 11:17:19 +0000

Longterm is up as long as 5-6 $ holds, or at least the 2$ MUST hold.I think the BTC market is too small to have a ctrrelaoion with stock markets. However, speculative forces and risk taking is drying out overall in the global markets and this may have already spilled over to BTC. But this happened already from the 32 $ high downwards.