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Serious question, do we have any REASONABLE idea where the price would eventually have to level off?
A lot of people have pointed out that $1,000 per bitcoin is really quite arbitrary, 1 bitcoin itself is a pretty arbitrary amount, and we could eventually get to 100,000k a piece and everyone would just have do deal in microcoins or whatever. But logically there does have to be an upper limit on this. Bitcoins can't be worth infinity dollars, after all. So my question is, for all the people speculating about what the price will eventually be, what is any of this actually based on? I mean there is a maximum limit of 21 million coins ever in existence. Is anyone speculating about the price actually arriving at their conclusion based on a mathematical argument of some sort? Because I have seen people here spitting out everything from 100k to 100 million, and not one person that I've seen has mentioned WHY they think that. So is there anything to this, or are the people talking about future prices really just jacking off? EDIT: I really didn't think I would have to clarify that I'm not asking people to predict the future here, but apparently I do. Obviously nobody knows if bitcoin will take off or not. FUCKING OBVIOUSLY. DON'T REPLY JUST TO TELL ME THAT NOBODY KNOWS THIS. The question is more like, if everything goes as perfectly as we would hope, what might the price eventually be.
Hey guys, I've been following bitcoin for a little while now. I think I can safely say I understand the basics and have even done a bit of mining. The currency is still in its infancy and has a long way to go of course: it needs more adopters, better understanding by the public at large, and of course better infrastructure (Mt. Gox, I'm looking at you!) But there's one other thing bitcoin needs, even more desperately than any of these things mentioned above if we're going to get off the ground: we need to start using the idea of millicoins, and this is one thing that I think reddit is ideal to provide. So here's the deal: one major problem economists can't get their heads around is the idea of a cap: a total number of bitcoins in circulation. Other currencies get around the problems this causes by simply printing more, but bitcoin is different. Bitcoin splits indefinitely. Someone hoarding bitcoins? Suddenly millicoins are worth more. As inflation happens, a smaller denomination becomes the standard. Just like we moved from using the penny, to the dollar to the paper bill, the bitcoin will move from bitcoins to millibitcoins to microbitcoins. But this is the problem, and what reddit is suited to nip in the bud: right here, right now. The non-internet math nerds of the world are struggling with this concept and don't understand how this will work, so we need to simplify this and make it understandable, and we can do it pretty easily. All we need is a simple change in jargon. Stop using 0.05 bitcoins and start using 5 hectocoins (or millicoin, or whatever makes the most sense) now! Lets face it, every day transactions are already down to a fraction of a bitcoin, so why are we still using a full bitcoin to measure them? I'd also suggest the tip bot be converted to this jargon now too, to help ease over this process. Eventually we'll have to switch to microcoins, nano-coins and such, but for now we should probably get the slang sorted so the rest of the world will understand... Final note: We might want to work on the slang a bit though. Hectocoin? Centicoin? What's most appropriate?
Hi all Helloooo is there anyone here ? OK, I'll start : I've been following bitcoin back in 2011, I did not mine I did not buy, I was just interested in the concept. Then I thought mining was a good option but the costs involved stopped me to do it. ASICs were hot talk and bitcoin block reward was about to halve, I thought my mining rig would be outdated in a month (how wrong I was...) Then it appears to me that miners would switch to Litecoin, and I finally bought a VGA card to get me some. Making calculations, mining was not the way to go, so I bought some coins. And i started trading. I bought some LTC because it was SHA256-asic resistant. I bought some PPC because it was energy and security efficient (PoS+PoW). I bought some QRK because it was faster (around 30 sec for the block-time). I bought some VTC because it was scrypt-asic resistant. I bought some Doge because of the huge coin supply (you can send some to your friends without feeling like loosing a fortune). I did not buy Novacoin because of the premine. I was waiting for a coin that could be all this at one time. And here it is, microcoin is here. (With a cool name by the way and a great logo) All those very unique features for LTC, PPC, QRK, VTC and Doge are the reasons for the popularity and spectacular value increase for those coins. microcoin have all of them. But microcoin is lacking something. Something that you can not implement. Something not in the code : a strong community to support and promote it. Show microcoin some love ! Let's take microcoin to the.......................................launchpad ;)
Hey guys, I saw a thread or two bouncing around about what to call bitcoins. The suggestion came up to call 0.01 bitcoins a "cent" or somethign similar. I think that there's already a great system for log-10 naming conventions. kC - kiloCoin - 1000 BTC C - Coin - 1 BTC cC - centiCoin - 0.01 BTC mC - milliCoin - 0.001 BTC uC - microCoin - 10-6 BTC nC - nanoCoin - 10-9 BTC pC - picoCoin - 10-12 BTC That would simplify things enormously, methinking.
Convert 1 MicroBitcoin to Bitcoin. Get live crypto exchange rates, historical prices & charts for MBC to BTC with CoinCodex's free cryptocurrency calculator. 1 microCoin is 0.000000008 Bitcoin. So, you've converted 1 microCoin to 0.000000008 Bitcoin . We used 127314681 International Currency Exchange Rate. MicroCoin/Bitcoin Ratio: 1 BTC = 1944266.17 MCC Popular coins right now on CoinGecko. eToro Sponsored. DIA 7.2%. ShareToken -3.2%. Elrond 3.9%. Binance Coin -0.0%. NEM 0.0%. Cardano -1.7%. TRON 0.7%. Spot. Perpetuals. Futures. Affiliate disclosures Support CoinGecko. Links on this page may contain affiliate links. CoinGecko may be compensated when you sign up and trade on these affiliate ... Have you heard about BitCoin and all those new Crypto currencies? Well micro:bit has micro:coin now! How does a micro:bit make coins? Each micro:bit contains a blockchain, a sequence of blocks, that is public and can’t be modified. Each block represents a coin. To mine new coins, the user shakes the micro:bit and, if they are in luck, their coin added to the chain as a new block! Once the ... At block height 1,137,200. Estimated to occur on October 9, 2019 11:00 (UTC+0). Power2b Proof-of-Work Algorithm.