863200+ entries in 0.579s
fractal: not
that hard -- we can use Gold as model for BTC -- kings and
tyrants were
the largest gold holders, and slowly holdings moved
mircea_popescu: which is how
they ended up with btc in
the first place.
mircea_popescu: they jhave no incentive
to, as
they already have more fiat
than
they know what
to do with
fractal: the price will likely be $1000 by
then, and lots of large holders would probably sell
matuszed: Thats
the most impossible question in
the world
to answer
fractal: So, if 1 million people use BTC in 2015, what amount do you
think would put you in
top 10,000 ?
mircea_popescu: i would guess group 1 median is somewhere in
the 50k range. group 2 median probably about 80-150 btc
mircea_popescu: then
there's ~100k people who have some dust, post on forums, what have you
ThickAsThieves: yeah but
then
there are some people with 10000_ and 100,000+
mircea_popescu: basically
there's a 1-200 people
that matter, holding like 90% of all coins.
there's ~10k people with modest holdings, doing another 9%
fractal: ThickAsThieves:
thats what i've gathered from reading forums -- one guy
talked about mining 50K coins and
then formatting his HD
mircea_popescu: fractal large holders are part of
the float as much as small holders.
fractal: i
think less
then 5000 people have 1000BTC
fractal: well. around 2-3 million coins have never been moved right? 1 Million is satoshi and 1-2Milion lost -- lets say
theres 8M coins in real peoples hands -- 5000 people holding 1000BTC would
take up 5M BTC and mean only 3M is left as float
zoinky: theres been millions of downloads of
the client
matuszed: Im like 5000 users on
there alone
zoinky: well coinbase claims
to have 238,000 users
fractal: ThickAsThieves: competition
that will replace it?
fractal: ThickAsThieves: i'm extrapolating for world-wide BTC usage in
the future
fractal: cool.. I
think 2,100 is a good goal for someone with a lot of money, and very bullish on bitcoin -- mathmatically no more
then 10,000 people can own as much as you, and in reality it will likely be 1000 or less in
the future
fractal: I'm just
thinking
that, if someone wanted
to be
top 5000 richest BTC in
the world, how many would he need
to buy right now?
Scrat: 10k+ is
ter(r)anode?
fractal: MTGOX has a great idea
though ;)
fractal: ThickAsThieves: its hard
to do, unless addresses are linked
mircea_popescu: there's not
that much space, plenty of people own more
than 10k
mircea_popescu: someone should send
the labcoiners a digest list of glbse muppets hating mp back in like... august 2012.
fractal: How many entities do you guys
think own over 10,000 BTC? 100, 200, 500?
ThickAsThieves: "and just for
the record, I
think he's really good at running an exchange
that has no securities."
ThickAsThieves: re labcoiners hating mp "I agree 100%. Right after his little post I
thought "wow, didn't he show
this same distaste
towards asicminer at one point?"
This was
the biggest signal for me, and I bought up a shitload.. "
fractal: It's likely , but not certain,
that people who stole large amounts of bitcoins will
try
to launder
them before cashing out on MTGOX.
gribble: MtGox BTCUSD
ticker | Best bid: 128.92001, Best ask: 129.00000, Bid-ask spread: 0.07999, Last
trade: 129.49995, 24 hour volume: 9171.09358164, 24 hour low: 128.18000, 24 hour high: 131.72442, 24 hour vwap: 129.34495
fractal: ThickAsThieves:
the ownder has over 10,000 BTC -- likely a criminal/money launderer -- friedcat sohuld have kept it, he has a responsibility
to shareholders
kleeck: FC returned
the
tx fee, instead of keeping it.
ThickAsThieves: (regarding a block
that has an insanely high
tx fee in it)
ThickAsThieves: "I'm extremely happy
that Friedcat returned
that
transaction fee mistake. Integrity is worth a lot more
than 200 coins (no matter what BTC ends up being worth)."
Anduck: i put
the link
there.. no need
to spam it more :O
jurov: anduck put it as comment
to bitbet and you'll see
Anduck: but if someone wants
to comment it, comment here..?
Anduck: mircea_popescu:
there's nothing
to comment in
that pastebin. it's all just facts and how
the bet is
Anduck: this
thread, 2 or 3 last pages
mircea_popescu: but since you're here, link
the pix
to
the other
two ?
Anduck: mircea_popescu: i just want
the bet
to be resolved correctly :)
Anduck: please let me know is
there something wrong
there
ozbot: Bitfury EU August orders will ship before 1st September 2013
This is met. B - Pastebin.com
mircea_popescu: the
thing is i know what doesn't work, i don't need
to experiment
to discover what's wrong with boiler rooms, wash
trading, pump and dumps or all
the rest of
the "internet investment" stuff.
matuszed: someone do it with maker
taker
fractal: mircea_popescu: i've always
thought
that becoming my own competition is
the best way
to provide
the most efficient service
to a market...
deadweasel: but do you want
to deal with
them? or someone with
their head screwed on?
mircea_popescu: fractal i have a history, by now it's long in btc
terms.
mircea_popescu: because
the goal is
to make bitcoin work, not
to
try and finesse a few coins out of
the masses.
deadweasel: nobody wants
to deal with bitcoin small fish.
mircea_popescu: they'd certainly fail otherwise. so no, i'd just wait for
them
to die.
fractal: mircea_popescu: why not start a btct.co
type site using your backend code? ;) you can own
the small-fish market and big-fish
mircea_popescu: significant competition would participate in
the same market, face
the same constraints and
take
the same measures,
fractal: mircea_popescu: if significant competition comes around would you adjust
to
the market?
mircea_popescu: if random chinese asic manufacturers would help rather
than hinder we'd be moving a lot faster, but even so, we're moving.
mircea_popescu: this is deliberate, helping
the community professionalize.
Rulother: There's a service out
there,
that will do
the
trading for you with a small % per
transaction. Forgot
the name :P
mircea_popescu: i've said it's only going
to go up in
the future, and it's a fact.
mircea_popescu: the fee was originally 0, for people who wanted
to beta. it went up from 20
to 30 when glbse failed.
fractal: mircea_popescu: have you ever
thought about lowering your fee
to join mpex? maybe you'll get more volume/make more in fees?
mod6: ok, well maybe i aught
to add a random number
to
this
thing now...
ozbot: BitBet - Labcoins own 130nm design sample chips will be received by
testers by 12TH SEPT 2013
fractal: I made an investment a couple weeks ago,,, profit seems
to have stalled
there for a bit
mircea_popescu: i hadn't realised how fucking integral
to btc ecosystem
trilema is. i'll have
to get redundancy for
that
too now ?!
pankkake: well, I'm still at a loss from my small investment on JD. bad
timing
fractal: nice... you must have done well...
they need a few more whales
to play
to get
the profit up
to 1%
tho... can't belive 1 guy
took
them for 4000BTC
mircea_popescu: there;s anarticle on
trilema discussing it somewhere, remind me
to link you sometime