Re:Bitcoin falls from $266
by Retric on Wednesday April 10, 2013 @04:05PM
(#5527745)
Assuming that bit-coin is not passed over for a more useful digital currency at which point the network fails and the total value of all bit-coins falls to 0.
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I wonder if the value would ever fall to precisely zero. Mightn't they still have value as a novelty or collector's item? Like, "Hey, a Bitcoin! I remember those... sure, I'll buy one, just to say I have one." It's unfortunate that you couldn't mount it in a decorative frame, though.
One guy made physical coins for bitcoin:
Indeed. My friend knows the man behind this. He owns another software company in Utah and gives his employees bonuses in BitCoin.
At some point it would probably be easier to mine one, if the value and interest drops low enough.
That's backwards. As the value approaches zero, the relative cost of mining grows not shrinks.
That's true, but as value drops, there is less incentive to mine bitcoin so there'll be a lot less mining going on(not cost-effective with respect to the cost of electricity).
Re:Bitcoin falls from $266
by mynameisvlad on Wednesday April 10, 2013 @05:37PM
(#5528373)
Unless we reach the mining gives you 0BTC limit.
It will never fall to zero, I'll personally buy every last one of them at $0.0001 each.
It would not make sense to buy EVERY one of them, as then you're guaranteeing they won't have value to anyone else.
Re:Bitcoin falls from $266
by thatthatis on Thursday April 11, 2013 @09:37AM
(#5531852)
Once you own 50% can't you create fake transactions to transfer the rest of the BTC to yourself?
No you need 50% of the mining capacity, not the bitcoins
Perhaps he sees minimal value in being the only person that has any.