Any Bitcoin enthusiest? My question is if cryptocurrencies become more common and more are minted won't that bring the price down. I'm looking at it from an investment angle.
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Price, in terms of what? You obviously don't have even the faintest clue about what real exchange is, or value, honest weights and measures, fiat paper currency, money, etc.
Money is an idea which is backed by confidence. If there is enough confidence in something, that it will be accepted by someone else in trade for some goods or services, then it is money. To the degree that there is confidence that the same amount of the medium of exchange will trade tomorrow at the same rate as it did today, there is stability in it. To the degree that others think that the inherent value and perceived purchasing power of that medium of exchange is going down, they will want more of that medium of exchange in order to compensate them for their perceived potential loss. And THAT is what we call inflation!!
HOW can anyone create a medium of exchange out of thin air via computers, or maybe some old cotton rags mixed with a bunch of chemicals, and call it money? WHERE is the substantial amount of human labor that is supposed to be represented by those mediums of exchange, so we can know for certain that we are trading our labor at a fair rate with others? That basically is what we are doing, we are trading our labor back and forth via a medium of some kind.
You would do well to read my paper from 1996 titled What is Money? sometime.
Randy
The proper word there is ACCEPTED, not excepted, which means to set something aside from all else.
If you cannot comprehend something as simple as fair and honest trade, how do you expect to be able to turn a profit in something that is basically stealing from someone else?
The swapping of one fiat paper currency, or more recently electronic bookkeeping entries for another one, has ALWAYS been a speculation. That's another word that you need to look up and learn the meaning of. Have you ever heard of the tulip bulb craze?
Again, what is this "price" you mention? How do you measure it? Who gets to decide what that "price" looks like and what it's made out of? I have no idea of what you do to earn a living, but I say that you should stay with that and NOT get involved with any criminal enterprises as complicated as trading fiat currencies, be they paper or electronic ones.
Randy
Don't do it. You will loose your money. It is a fad. I don't know anybody who has got any cash from it. On paper yes but not in reality.
@SpikeTalon So how much hard cash did you make?
@SpikeTalon So in reality how much in dollars would that be and how much was your outlay?
@SpikeTalon Ok, but did you get the cash when it went sky high?
Please explain "minted". Cryptocurrencies are called that because it isn't hard minted.
Besides.....
[marketwatch.com]
Just remember: as soon as someone cracks quantum computing, bitcoin becomes worthless, as do 128 bit encryption keys or any other security based on large prime number pairs.