Bitcoins/Litecoins/Virtual Currencies

Arden

Arden

Blackwing Lair Raider
2,931
2,208
Seananigans said:
What does any of that matter? None of that changes the base foundation that Bitcoin is built on. And who the fuck is basing anything on “those coins being permanently dormant?” Everyone knows there are (will be) 21 million bitcoin. Nobody I have ever encountered has suggested their strategy involves an assumption that one million of them stay dormant. I really don’t understand your point of view.
Click to expand...

Markets rely on psychology as much as math. No one says their whole strategy is based on Satoshi’s coins staying dormant, but those coins have been untouched for 15+ years and are generally treated as lost. That absolutely affects perceived circulating supply and investor confidence.

If those wallets suddenly spring to life, it’s not just about 1M BTC existing (we already know that), it’s about 1M BTC potentially being moved, sold, or used to influence the market.

There would definitely be a crash. How much of a crash and how permanent it is would depend on what happens after the wallets go active. If they were to dump, that would definitely be catastrophic for btc.

To be clear, this issue has been on my radar for years and I'm more of a btc bull now than ever. But I'm also realistic enough to consider the risks of the ongoing assumption that Satoshi is dead and his coins are forever gone.

If you want the cynical perspective- Satoshi pretending he is dead and patiently waiting for btc to take over the world is a genius fucking move.
 
  • 1Like
  • 1Picard
  • 1Truth!
Reactions: 2 users
Seananigans

Seananigans

Honorary Shit-PhD
<Gold Donor>
14,671
37,540
Arden said:
Markets rely on psychology as much as math. No one says their whole strategy is based on Satoshi’s coins staying dormant, but those coins have been untouched for 15+ years and are generally treated as lost. That absolutely affects perceived circulating supply and investor confidence.

If those wallets suddenly spring to life, it’s not just about 1M BTC existing (we already know that), it’s about 1M BTC potentially being moved, sold, or used to influence the market.

There would definitely be a crash. How much of a crash and how permanent it is would depend on what happens after the wallets go active. If they were to dump, that would definitely be catastrophic for btc.

To be clear, this issue has been on my radar for years and I'm more of a btc bull now than ever. But I'm also realistic enough to consider the risks of the ongoing assumption that Satoshi is dead and his coins are forever gone.

If you want the cynical perspective- Satoshi pretending he is dead and patiently waiting for btc to take over the world is a genius fucking move.
Click to expand...

From my point of view, “market” isn’t something that applies to Bitcoin. But I can see how you could have this perspective given the clownish absurdity of the status quo.
 
tugofpeace

tugofpeace

Pronouns: zie/zhem/zer
1,211
2,850
Seananigans said:
From my point of view, “market” isn’t something that applies to Bitcoin. But I can see how you could have this perspective given the clownish absurdity of the status quo.
Click to expand...

So if tomorrow we hit hyperinflation, you don't think bitcoin price will adjust to reflect that?
 
You must log in or register to reply here.