A friend of mine told me this.....

[quackyduck]

A friend of mine told me that bitcoin is gonna run out cuz a lot of people are mining not buying I told him that he was so stupid

Is that true?

 

[quackyduck]

What do u mean?

 

[hung]

I don't think it will but I heard govs don't like the idea of it so it might become illegal. Don't take my word on it since I'm not certain

 

[quackyduck]

True

 

[quackyduck]

The gov hates new ideas

 

[hung]

That can be good. China made it illegal and the demand for Bitcoin sky-rocketed hence why it even went up in the first place

I heard some european countries want to also.

 

[Doughnut]

A friend of mine told me that bitcoin is gonna run out cuz a lot of people are mining not buying I told him that he was so stupid

Is that true?

There are only 21Million Bitcoins to be mined and there is only 4.2million left to be mined. The price of them will decline, they are accepted on Steam I believe and in a shop called CEX. They will decline but they're not just going to fall to $0.30 over night dont worry.

 

[hung]

No country has or can ban crypto. They have put restrictions on exchanges but crypto still thrives.[DOUBLEPOST=1517592204][/DOUBLEPOST]
Diminishing supply increases price...

basically banning them tbh

 

[Doughnut]

No country has or can ban crypto. They have put restrictions on exchanges but crypto still thrives.[DOUBLEPOST=1517592204][/DOUBLEPOST]
Diminishing supply increases price...

That is true, however over the last few months/ years https://www.cryptocompare.com/coins/btc/overview/USD as you can see. The bitcoin has dropped in price.https://en.wikipedia.org/wiki/History_of_bitcoin It will progressively drop. From being 17000$ at its peak. Yes I'm aware that is a peak but although the supply is shrinking and the price should inflate due to a shortage, There is no real high demand for the cryptocurrency anymore in my opinion. I'm aware of 2 places that accept it and that is it.

 

[78230]

Well, Bitcoin is sadly not being used how it was intended... I won't invest in them anymore.

 

[Doughnut]

I do not want to argue over a cryptocurrency, at the end of the day. If it rises, it rises. If it falls, it falls. That is just how it is.

 

[hung]

Just before anyone else that doesn't know how blockchain technology works comments, we will never reach the 21 millionth Bitcoin due to difficulty increases.

To anyone wondering why the price of Bitcoin has dropped, there's been a recent increase in FUD and government intervention in exchanges which lowered the price. Happens every year during winter season, it'll go back up soon.

Still up over 700% from this time last year.[DOUBLEPOST=1517592419][/DOUBLEPOST]
That is completely incorrect.

not allowing* chinese mainland residents from trading in cryptocurrencies (bitcoin) on exchanges for shit they can use basically rids the point am i right? just asking