➚➝➘ 1[btc]➔$1000 EXpensive or Not??

azguard

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Quote from: cengsuwuei on January 13, 2017, 04:04:13 AM

bitcoin price 1000 dollar/bitcoin
is standard price, not expensive and not cheap
is good rate bitcoin price is range 800 - 1100 dollar/bitcoin

We will see in following week or two what will happen. Lots of stuff is on right now china massive dumping coins, we will have start of megaupload 2, segwith implementation, and New US president will make official oath on 20th this month.

After this date will see real price on market for not just bitcoin but all including gold/silver and oil.

cengsuwuei

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bitcoin price 1000 dollar/bitcoin
is standard price, not expensive and not cheap
is good rate bitcoin price is range 800 - 1100 dollar/bitcoin

jossiel

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It is expensive for a typical person that are living into somewhere in the third world countries or for a jobless guy.

But it doesn't matter on how much the price of bitcoin is, because you can just simply buy portion per portion of it, its divisible.

So you don't have to worry about it and regarding for the ideal price of bitcoin to be an universal currency, there's no certain measurements for it.

As long as we are using it for transacting, we do love on how it goes no matter how much its current price.

ICOGuru

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The price will come up, just watch whats going on around the world.
Its a matter of time.

pooya87

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for now price will be in the decline mode and will look bad for the foreseeable future. but this phase will also end. like the many declines before it, the overall trend of bitcoin has always been rising and as long as there are more people to adopt bitcoin price will continue to rise.

Roger Burton

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Am not 100% sure, but it will be between $500-$1000.I don't know though if that will be good or bad then, but I hope it has good results Wink

Monnt

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Expensive in terms of what. Price of a commodity does not matter for a trader just to enter and exit as all prices are good to buy. To use as currency also we need not to bother about price levels. Only investors may worry about expensive, still by considering future value of bitcoins like $10k or millions I believe $1000 is not expensive.

maydna

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if 1 bitcoin is equal with $1000 then i think its too expensive but the good news is we don't have to buy 1 bitcoin but we can buy with small amount if we don't have $1000. we can still use the small amount of bitcoin for many ways like trading, buying product with accepting bitcoin as payment and other thing.

webtricks

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Quote from: HEPHAISTOS on January 12, 2017, 08:59:23 AM

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?

And you really feel price of Bitcoin restrict ppl from buying Bitcoin!!
I don't know if you are aware but it is possible to transact even the 10000th part of Bitcoin for free. Higher prices of Bitcoin are rarely hurdle in its acceptance way.

And also the higher price in case of Bitcoin doesn't drive away demand or present users rather it enthusiasts the new users to start using Bitcoin as lucrative medium of investment!!

mastica

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It could be considered expensive if you are comparing the prive of it with the salarie each person does have, sure its expensive, but you can buy portion of bitcoin. I dont see why the price had went soo high at the end of the year, and looked stable really, anyway, there arent any news related to bitcoin projects that should affect the bitcoin value, soo its always speculation making the price up and down, only the halving is having a really impact at the value and almost instant.

piloder

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The one who always scare about losing with bitcoin will always fear to invest/buy bitcoin even when price was $1 so for those people there is no any ideal price but for the one who have trust over bitcoin and its potential value in future will keep buying whenever there is dump on bitcoin price like right now.

eternalgloom

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Quote from: deadsilent on January 12, 2017, 10:48:02 AM

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.

The problem is also that most people don't know enough about Bitcoin, so when they see $1000 per Bitcoin price, they think it's already out of they financial reach.
It's important to emphasise that you don't need to buy a whole Bitcoin.

BrewMaster

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when you look at how big bitcoin has gotten in the past 8 years and then look at how small bitcoin still is compared to what it can really be then you can easily understand that numbers like $1000 are so tiny.
there is a reason why bitcoin has 8 decimal places down to 1 satoshi, that is because it is going to be worth something some day.

calkob

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Bitcoin is def for everyone, it allows every person on earth to fully control their own wealth. as a store of value and and as a payment system to pay others. I think that with 10 years bitcoin will be worth far more than $5000 which means that at a $1000 bitcoin is cheap. Grin

mobnepal

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I don't think there is anything like ideal price for bitcoin, price of bitcoin will never be constant as its price will keep fluctuating with respect to demand and supply just like price of gold.

Mastsetad

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I don't really feel that the price of bitcoin can stop anyone from adopting or using bitcoin no matter how poor someone should be. If you have $100 you can buy 0.1btc with that if the price is $1000, and if the price grows to $2k later on the amount you have bought will increase 100%, so someone can always be a part of this community if they are willing to do so.

FaucetRank.com

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Bitcoin can not be expensive because in my view if you are buying $1 Bitcoin for $1000 than I would say you converted your $1000 to 1 Bitcoin and this 1 Bitcoin worth $1000 so you just changed the form of money not the value of money.

Ayers

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i think not, $1k is very low for bitcoin we were there two times, this alone say that it's not the correct value for bitcoin, for me it's should be at least 5k or 10k not less than that

Quote from: Velkro on January 12, 2017, 10:33:41 AM

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.

but if everyone adopt bitcoin it will eventually go very high, thus making a correlation between the two, isn't this right? i think so

BitcoinHodler

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Quote from: HEPHAISTOS on January 12, 2017, 08:59:23 AM

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,

80% of the world population don't have to buy 1 whole bitcoin. or 10 or 100. they can and should always invest what they can afford to invest. someone can and will invest $100 and gets 100/[current price]BTC and some other can and will invest 10,000 and gets 100/[current price]BTC

just like with buying or investing in anything else such as gold. you don't buy a ton of gold, you buy a gram,...

Quote

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 .

i don't like calling it real price, it is not a right word, it is more like a potential price which i believe is more than $5000

kryptqnick

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I think that bitcoin needs to cost a lot to become a universal currencies so that more people will be able to use it. Then mostly hundreds of satoshi will be used and so a lot of people will have some. How can bitcoin become universal when there aren't many people who can actually use it due to finite quantity? This would be quite strange. I don't believe that it will really be so, but bitcoin has to cost around $15000 for people to use it more IMO.

deadsilent

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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.

Kprawn

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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. Roll Eyes

Velkro

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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.

bettercrypto

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Quote from: aso118 on January 12, 2017, 10:07:32 AM

Quote from: HEPHAISTOS on January 12, 2017, 08:59:23 AM

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?

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

BillyBobZorton

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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.

Zadicar

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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.

Digitalbitcoin

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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.

aso118

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Quote from: HEPHAISTOS on January 12, 2017, 08:59:23 AM

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?

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.

Dmitry.Vastov

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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.

Xester

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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.

unamis76

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Quote from: HEPHAISTOS on January 12, 2017, 08:59:23 AM

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.

HEPHAISTOS

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Topic: ➚➝➘ 1[btc]➔$1000 EXpensive or Not?? (Read 1021 times)