News for hackers. Stuff that matters.
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.
Re:Bitcoin falls from $266 by cpressey on Wednesday April 10, 2013 @04:16PM (#5527844)
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.
Re:Bitcoin falls from $266 by DanBC on Wednesday April 10, 2013 @04:37PM (#5527987)
One guy made physical coins for bitcoin:

(https://www.casascius.com/)

Re:Bitcoin falls from $266 by vyrotek on Wednesday April 10, 2013 @05:00PM (#5528138)
Indeed. My friend knows the man behind this. He owns another software company in Utah and gives his employees bonuses in BitCoin.
Re:Bitcoin falls from $266 by nekgrim on Wednesday April 10, 2013 @05:28PM (#5528326)
Re:Bitcoin falls from $266 by phreeza on Wednesday April 10, 2013 @04:28PM (#5527925)
At some point it would probably be easier to mine one, if the value and interest drops low enough.
Re:Bitcoin falls from $266 by jdludlow on Wednesday April 10, 2013 @05:00PM (#5528136)
That's backwards. As the value approaches zero, the relative cost of mining grows not shrinks.
Re:Bitcoin falls from $266 by entropy_ on Wednesday April 10, 2013 @05:40PM (#5528394)
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.
Re:Bitcoin falls from $266 by lwat on Wednesday April 10, 2013 @07:17PM (#5528858)
It will never fall to zero, I'll personally buy every last one of them at $0.0001 each.
Re:Bitcoin falls from $266 by fnayr on Wednesday April 10, 2013 @07:34PM (#5528949)
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?
Re:Bitcoin falls from $266 by lwat on Thursday April 11, 2013 @06:13PM (#5535118)
No you need 50% of the mining capacity, not the bitcoins
Re:Bitcoin falls from $266 by jlgreco on Wednesday April 10, 2013 @07:49PM (#5529028)
Perhaps he sees minimal value in being the only person that has any.
Re:Bitcoin falls from $266 by lwat on Wednesday April 10, 2013 @07:47PM (#5529014)
I don't care, I'll buy them all. I'd be the sole owner of a piece of internet history.