Silk Road forums

Discussion => Newbie discussion => Topic started by: Newguy321 on July 12, 2013, 12:17 am

Title: BC
Post by: Newguy321 on July 12, 2013, 12:17 am
I was just wandering what causes the cost of Bitcoins to flux so much?
Title: Re: BC
Post by: m3rk on July 12, 2013, 12:20 am
Massive amounts of buying and selling I suppose. If there are alot of people trying to sell since the price is high, it would drive the price down and vice versa.
Title: Re: BC
Post by: Bullfrogblues on July 12, 2013, 12:22 am
Probably the same reason Apple stock tanked recently. Buy low sell high.
Title: Re: BC
Post by: QuickSilverHawk on July 12, 2013, 12:24 am
Butterflies.
Title: Re: BC
Post by: Newguy321 on July 12, 2013, 12:26 am
But BC's are not real...like backed by anything. So couldn't someone just make as many as they want?
Title: Re: BC
Post by: QuickSilverHawk on July 12, 2013, 12:28 am
But BC's are not real...like backed by anything. So couldn't someone just make as many as they want?

Not to my knowledge, no.
Title: Re: BC
Post by: Bullfrogblues on July 12, 2013, 12:29 am
No there are a limited amount and once that is reached that is it. People mine for them but it is getting harder to do. Do a google search for bitcoin mining and a lot of info will come up. It really is a strange thing but fascinating.
Title: Re: BC
Post by: m3rk on July 12, 2013, 12:30 am
You can mine them but nowadays you hardly get any for the effort you need to put in
Title: Re: BC
Post by: Bullfrogblues on July 12, 2013, 12:31 am
21 Million is the max then that's it. Actually if you go to Wikipedia it tells it all.
Title: Re: BC
Post by: Bullfrogblues on July 12, 2013, 12:34 am
You can mine them but nowadays you hardly get any for the effort you need to put in

Yes i tried it but used more electricity than it was worth. Old days it was great like everything though these days. Rich get richer.
Title: Re: BC
Post by: m3rk on July 12, 2013, 12:36 am
Yeah a friend and I were looking to invest in servers and run an all-day operation but it's not worth it for what you need to invest. It would have been great if I got started on this back when they were more available.
Title: Re: BC
Post by: HenryC0833 on July 12, 2013, 12:39 am
But BC's are not real...like backed by anything. So couldn't someone just make as many as they want?
I have my head in my hands, and I am weeping. 
Title: Re: BC
Post by: QuickSilverHawk on July 12, 2013, 12:42 am
But BC's are not real...like backed by anything. So couldn't someone just make as many as they want?
I have my head in my hands, and I am weeping.

;)

Congrats on making it to the #50 hurdle, by the way.