Topic: ➚➝➘ 1[btc]➔$1000 EXpensive or Not?? - page 2. (Read 1021 times)
Yes. Its expensive if you got no money. By the way. You dont have to buy a whole bitcoin because you can still use its fragments. When the price go up to $5000. Its fragments like bits or mbtc will surely will increase also. So no need to worry about being expensive because every sats can be useful. I think the op thinks he can only buy a whole bitcoin and not small fragments is not available. If you buy a whole bitcoin. Thats expensive. Thats why theres fragments so we can afford it according to our budget.
We have to put this into perspective :
Total currency in circulation
In 1990, total currency in circulation in the world passed 1 trillion USD. After 12 years, in 2002 this figure was 2 trillion USD, and in 2008 it
had increased to 4 trillion USD, broken down by country as follows:
Eurozone – 1035.2 billion USD, 24.30% of world total
United States – 850.7 billion USD, 19.97%
Japan – 762.4 billion USD, 17.90%
China – 492.3 billion USD, 11.56%
India – 140.3 billion USD, 3.29%
Russia – 110.8 billion USD, 2.60%
UK – 87.5 billion USD, 2.05%
Canada – 43.8 billion USD, 1.03%
Switzerland – 40.3 billion USD, 0.95%
Poland – 37.7 billion USD, 0.89%
Brazil – 37.3 billion USD, 0.88%
Mexico – 34.3 billion USD, 0.81%
Australia – 32.4 billion USD, 0.76%
Pakistan – 17.63 billion USD, 0.42
Other countries – 537.4 billion USD, 12.89%
So do the math, because I am too lazy to do that now. Take all the bitcoins in circulation and multiply it by 100 000 000 Satoshi's. Do you
think we will have enough? In January 1mBTC was worth $1.
Total currency in circulation
In 1990, total currency in circulation in the world passed 1 trillion USD. After 12 years, in 2002 this figure was 2 trillion USD, and in 2008 it
had increased to 4 trillion USD, broken down by country as follows:
Eurozone – 1035.2 billion USD, 24.30% of world total
United States – 850.7 billion USD, 19.97%
Japan – 762.4 billion USD, 17.90%
China – 492.3 billion USD, 11.56%
India – 140.3 billion USD, 3.29%
Russia – 110.8 billion USD, 2.60%
UK – 87.5 billion USD, 2.05%
Canada – 43.8 billion USD, 1.03%
Switzerland – 40.3 billion USD, 0.95%
Poland – 37.7 billion USD, 0.89%
Brazil – 37.3 billion USD, 0.88%
Mexico – 34.3 billion USD, 0.81%
Australia – 32.4 billion USD, 0.76%
Pakistan – 17.63 billion USD, 0.42
Other countries – 537.4 billion USD, 12.89%
So do the math, because I am too lazy to do that now. Take all the bitcoins in circulation and multiply it by 100 000 000 Satoshi's. Do you
think we will have enough? In January 1mBTC was worth $1.
Quote
What is the ideal price for bitcoin to become an universal currency? (Voting closes: January 12, 2018, 01:59:23 PM)
None from the above. This poll has not single correct answer for me.
Bitcoin doesn't need a specific price to become universal currency. It is adjusting by itself to balance between rich and poor.
There is no diffirence if someone buying 1 btc or 0.1 btc or 0.01 btc or 10 btc.... there are bitcoins for everyone, depends on decimal places only.
After that the price of bitcoin reached the top for over $1000 a price that is not within the reach of everyone and that lets the bitcoin far from being a universal currency because it seems too expensive for more than 80% Of the world population which can not obtain such a sum even by accumulating all their annual income, other people who have acceded to this currency would say that $1000 is not yet the real price because the real price is much higher than that .
We experienced this situation in the end of year 2013 where the prices reached the same value but with a less number of peoples and bitcoin and the following was the sudden drop of prices which were less than $500 in most of the year 2014 and less than $ 200 in some period of the same year but which has allowed other people to join the bitcoin community , so I wonder if the year 2017 would be the year where we will see the largest number of bitcoin User or low prices or both?
We experienced this situation in the end of year 2013 where the prices reached the same value but with a less number of peoples and bitcoin and the following was the sudden drop of prices which were less than $500 in most of the year 2014 and less than $ 200 in some period of the same year but which has allowed other people to join the bitcoin community , so I wonder if the year 2017 would be the year where we will see the largest number of bitcoin User or low prices or both?
I agree that some people are put off by the price, but that is psychological more than anything else. If people can't buy bitcoins, then they should buy satoshis. This is one of the reasons why stocks are split or bonus shares are issued.
How about using mBTC instead of BTC, wont that make the price of mBTC looks cheaper? It is all in psychological aspect. Unless the person really want to buy that BTC but his budget is obviously cannot afford it which i can call stupidity. Why take a whole when you can take it by part and eventually owning a whole of it. So my answer, it is not expensive if you buy it partially
What I never understand is why if bitcoin has a really high price, like $5000+, suddenly bitcoin comes an elitist coin and "not for everyone".
Who cares how high bitcoin is? everyone can own some since it's as divisible as it gets.
It's like saying the dollar is not for everyone because few people can have 1 million... nonsense.
Who cares how high bitcoin is? everyone can own some since it's as divisible as it gets.
It's like saying the dollar is not for everyone because few people can have 1 million... nonsense.
Its not really necessary that we should buy 1 bitcoin since we could always bought a small fraction on it and people could really do that on small amounts therefore if they accumulate enough satoshis then they might save 1 whole bitcoin which is really affordable on todays price.We already saw $1100 price on 2017 and now it goes back again to $750 which means we wont really know the price of bitcoin in next days,months or years.
Actually price of bitcoin should be more than $1000 as per consideration of its popularity, demand and value. Anyone in globe can buy bitcoin at current market price. But additional advantage of bitcoin is it can be divided in 100000000 satoshi and which can be individually identified. So if user have small equity can go for smaller amount of bitcoin which can be defined in satoshi.
After that the price of bitcoin reached the top for over $1000 a price that is not within the reach of everyone and that lets the bitcoin far from being a universal currency because it seems too expensive for more than 80% Of the world population which can not obtain such a sum even by accumulating all their annual income, other people who have acceded to this currency would say that $1000 is not yet the real price because the real price is much higher than that .
We experienced this situation in the end of year 2013 where the prices reached the same value but with a less number of peoples and bitcoin and the following was the sudden drop of prices which were less than $500 in most of the year 2014 and less than $ 200 in some period of the same year but which has allowed other people to join the bitcoin community , so I wonder if the year 2017 would be the year where we will see the largest number of bitcoin User or low prices or both?
We experienced this situation in the end of year 2013 where the prices reached the same value but with a less number of peoples and bitcoin and the following was the sudden drop of prices which were less than $500 in most of the year 2014 and less than $ 200 in some period of the same year but which has allowed other people to join the bitcoin community , so I wonder if the year 2017 would be the year where we will see the largest number of bitcoin User or low prices or both?
I agree that some people are put off by the price, but that is psychological more than anything else. If people can't buy bitcoins, then they should buy satoshis. This is one of the reasons why stocks are split or bonus shares are issued.
We can still use bitcoin fragments(satoshi). Just like a dollar. We can still use its small part of it. Thats not a problem.
But yeah. $1000 per piece is expensive because it almost hit the ath. If you look at the history of bitcoin and how it grow. Bitcoin at its earlier days has a value of just about $1 a piece. Isn't that crazy? Its okay even if it reach $5000 because it has the same value of bitcoin when you buy it.
But yeah. $1000 per piece is expensive because it almost hit the ath. If you look at the history of bitcoin and how it grow. Bitcoin at its earlier days has a value of just about $1 a piece. Isn't that crazy? Its okay even if it reach $5000 because it has the same value of bitcoin when you buy it.
Bitcoin will not go back to 500$ this year. The 700$ for bitcoin is the smallest value of bitcoin that can occur this year. To say that it will reach 1000$ again that will of course possible by June and will go back to 700$ again by September due to the release of fiat digital currency. This is based on my observation, but it is my dream that by the end of the year bitcoins price will stumble at 2000$ each.
bitcoin far from being a universal currency because it seems too expensive for more than 80% Of the world population which can not obtain such a sum even by accumulating all their annual income
Bitcoin is divisible... That's not an issue. If you can't buy 1, you can probably buy 0.1.
Price isn't going to dictate if Bitcoin will be a "universal" currency or not. It can be a universal currency if it's worth 1 or 10000$. The usability of the network is what's going to dictate it.
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