/biz/ - Business & Finance

>>13149012

>>13085330
Thx buddy was a good read overall, I am generally not a fan of anal model fitting, but they had some gems in there

>>13085463
I believe it overall, curious to see how price reacts to the halving this time, still so much to learn and understand about BTC

>>13076142
I agree, I am only guessing the direction and overall movement, which I believe to be up.

>>13076228
Well, think big picture: People value BTC, and are willing to pay a certain amount for their BTC, to do whatever they please with it. That could be trading, holding, buying things with it, transacting value with it, it' money that can be sent on the internet. Its money that cannot be confiscated, declined, has no central owner, no way of printing more supply, it is secure.

But why is it secure? The miners. Satoshi created the perfect ecosystem where miner's are provided enough reward to stay and secure the network. As price rises due to speculation and demand, new and existing miner's start ramping up production in order to turn a profit, further securing the network.

Pic related for satoshi quote, here's another:
"The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more. At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price.

In later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around."