Posts like this really annoy me. Do you not understand we will only have 21 million bitcoins ever? So for billions upon dollars of currency out there, this means its impossible to value bitcoin at 90 cents or anything stupidly low like that. As more and more people use bitcoins, the value always HAS to increase.
Do you think if the USA prints double the amount of dollars now, that they could buy euros or any other currency for the same price? NO. They will be paying DOUBLE for all the currency now.
/endthread and beyond stupid OP
Topic: 90 Cents is the Best Bitcoin Value - page 3. (Read 6980 times)
You seem to have no concept of the way a free market functions.
You mean like the US and European economies are functioning right now? Or Greece?
You equate the current government mock job economies as free economies?
Its far from that.
You seem to have no concept of the way a free market functions.
You mean like the US and European economies are functioning right now? Or Greece?
If we could make a stable market in Bitcoins at a price of 90 cents each, Bitcoins would take off as an alternative currency.
First, regular merchants could advertise that they accept payment for purchases from their store in either Bitcoins or dollars. This would give customers paying in Bitcoins an automatic 10% discount on their purchases. This discount for customers paying in Bitcoins, and the fact that the store accepts Bitcoins, would attract additional business to the merchant, and more than cover the cost of giving the discount.
Second, as long as merchants used their Bitcoins to purchase stuff they needed from other merchants also accepting Bitcoins, accepting Bitcoins wouldn't cost them anything at all. The 10% cost of converting Bitcoins back into dollars would only affect the last guy in the chain. This would suck dollars into the Bitcoin economy and keep the Bitcoins circulating.
Third, at a price of 90 cents each, early adopters who created and stashed hundreds of thousands of Bitcoins away back when mining was easy, have no chance of becoming Bitcoin Multibillionaires. They would have to settle for a modest reward for their contributions.
Bitcoins are presently trading at $15.80. What sorts of things could we do to incentivize them to trend towards their ideal value of 90 cents?
First, regular merchants could advertise that they accept payment for purchases from their store in either Bitcoins or dollars. This would give customers paying in Bitcoins an automatic 10% discount on their purchases. This discount for customers paying in Bitcoins, and the fact that the store accepts Bitcoins, would attract additional business to the merchant, and more than cover the cost of giving the discount.
Second, as long as merchants used their Bitcoins to purchase stuff they needed from other merchants also accepting Bitcoins, accepting Bitcoins wouldn't cost them anything at all. The 10% cost of converting Bitcoins back into dollars would only affect the last guy in the chain. This would suck dollars into the Bitcoin economy and keep the Bitcoins circulating.
Third, at a price of 90 cents each, early adopters who created and stashed hundreds of thousands of Bitcoins away back when mining was easy, have no chance of becoming Bitcoin Multibillionaires. They would have to settle for a modest reward for their contributions.
Bitcoins are presently trading at $15.80. What sorts of things could we do to incentivize them to trend towards their ideal value of 90 cents?
You seem to have no concept of the way a free market functions. A conversion of 1 BTC to .9 USD is advantageous for purely psychological purposes. Even a tiny bitcoin economy could not function at a .9 USD conversion rate as there simply aren't enough bitcoins available to function at such a value. Merchants looking to facilitate the adoption of bitcoin should offer discounted prices for those using bitcoin.
We don't need to do anything to influence the market. If that is indeed the ideal price, then the price will drop from where it is due to lack of interest, and when it reached that point, merchants would begin trending towards bitcoins for the reasons you suggested. If the natural equilibrium is higher, market forces will drive it to that in the long run.
If we could make a stable market in Bitcoins at a price of 90 cents each, Bitcoins would take off as an alternative currency.
First, regular merchants could advertise that they accept payment for purchases from their store in either Bitcoins or dollars. This would give customers paying in Bitcoins an automatic 10% discount on their purchases. This discount for customers paying in Bitcoins, and the fact that the store accepts Bitcoins, would attract additional business to the merchant, and more than cover the cost of giving the discount.
Second, as long as merchants used their Bitcoins to purchase stuff they needed from other merchants also accepting Bitcoins, accepting Bitcoins wouldn't cost them anything at all. The 10% cost of converting Bitcoins back into dollars would only affect the last guy in the chain. This would suck dollars into the Bitcoin economy and keep the Bitcoins circulating.
Third, at a price of 90 cents each, early adopters who created and stashed hundreds of thousands of Bitcoins away back when mining was easy, have no chance of becoming Bitcoin Multibillionaires. They would have to settle for a modest reward for their contributions.
Bitcoins are presently trading at $15.80. What sorts of things could we do to incentivize them to trend towards their ideal value of 90 cents?
First, regular merchants could advertise that they accept payment for purchases from their store in either Bitcoins or dollars. This would give customers paying in Bitcoins an automatic 10% discount on their purchases. This discount for customers paying in Bitcoins, and the fact that the store accepts Bitcoins, would attract additional business to the merchant, and more than cover the cost of giving the discount.
Second, as long as merchants used their Bitcoins to purchase stuff they needed from other merchants also accepting Bitcoins, accepting Bitcoins wouldn't cost them anything at all. The 10% cost of converting Bitcoins back into dollars would only affect the last guy in the chain. This would suck dollars into the Bitcoin economy and keep the Bitcoins circulating.
Third, at a price of 90 cents each, early adopters who created and stashed hundreds of thousands of Bitcoins away back when mining was easy, have no chance of becoming Bitcoin Multibillionaires. They would have to settle for a modest reward for their contributions.
Bitcoins are presently trading at $15.80. What sorts of things could we do to incentivize them to trend towards their ideal value of 90 cents?
WOW !!
So I guess shareholders in other companies who got increases for early buyers/investors of 10000% and far higher, should also simply concede lowering the shareprice because they got in early for cheap and now benefit from the late stage share price?
This kind of logic and suggestions should not be involved in financial industries, otherwise we could debate anything should have a common value essentially making everything the same and worthless at the bitter end.
If we could make a stable market in Bitcoins at a price of 90 cents each, Bitcoins would take off as an alternative currency.
First, regular merchants could advertise that they accept payment for purchases from their store in either Bitcoins or dollars. This would give customers paying in Bitcoins an automatic 10% discount on their purchases. This discount for customers paying in Bitcoins, and the fact that the store accepts Bitcoins, would attract additional business to the merchant, and more than cover the cost of giving the discount.
First, regular merchants could advertise that they accept payment for purchases from their store in either Bitcoins or dollars. This would give customers paying in Bitcoins an automatic 10% discount on their purchases. This discount for customers paying in Bitcoins, and the fact that the store accepts Bitcoins, would attract additional business to the merchant, and more than cover the cost of giving the discount.
There actually are people outside the US, you know? I for one would rather have the bitcoin at 90 EUR-cents for your reasons, heck, make that 9 EUR, that would be quite close to the actual price!
We will make it both 90 EUR-cents and 90 USD cents if you help with the DDOS, since bitcoincharts.com is on the list too. Does anyone have the email for Al Qaeda (Yahoo probably)? I know they have a vested interest in Bitcoin.
If we could make a stable market in Bitcoins at a price of 90 cents each, Bitcoins would take off as an alternative currency.
First, regular merchants could advertise that they accept payment for purchases from their store in either Bitcoins or dollars. This would give customers paying in Bitcoins an automatic 10% discount on their purchases. This discount for customers paying in Bitcoins, and the fact that the store accepts Bitcoins, would attract additional business to the merchant, and more than cover the cost of giving the discount.
First, regular merchants could advertise that they accept payment for purchases from their store in either Bitcoins or dollars. This would give customers paying in Bitcoins an automatic 10% discount on their purchases. This discount for customers paying in Bitcoins, and the fact that the store accepts Bitcoins, would attract additional business to the merchant, and more than cover the cost of giving the discount.
There actually are people outside the US, you know? I for one would rather have the bitcoin at 90 EUR-cents for your reasons, heck, make that 9 EUR, that would be quite close to the actual price!
We must DDOS Bitcoins to save them from themselves
Bitcoins are presently trading at $15.80. What sorts of things could we do to incentivize them to trend towards their ideal value of 90 cents?
Well, I think that a massive, sustained DDOS against Mt. Gox would reduce the price quite a bit. Basically any reduction of liquidity would drop the price.
If we could make a stable market in Bitcoins at a price of 90 cents each, Bitcoins would take off as an alternative currency.
First, regular merchants could advertise that they accept payment for purchases from their store in either Bitcoins or dollars. This would give customers paying in Bitcoins an automatic 10% discount on their purchases. This discount for customers paying in Bitcoins, and the fact that the store accepts Bitcoins, would attract additional business to the merchant, and more than cover the cost of giving the discount.
Second, as long as merchants used their Bitcoins to purchase stuff they needed from other merchants also accepting Bitcoins, accepting Bitcoins wouldn't cost them anything at all. The 10% cost of converting Bitcoins back into dollars would only affect the last guy in the chain. This would suck dollars into the Bitcoin economy and keep the Bitcoins circulating.
Third, at a price of 90 cents each, early adopters who created and stashed hundreds of thousands of Bitcoins away back when mining was easy, have no chance of becoming Bitcoin Multibillionaires. They would have to settle for a modest reward for their contributions.
Bitcoins are presently trading at $15.80. What sorts of things could we do to incentivize them to trend towards their ideal value of 90 cents?
First, regular merchants could advertise that they accept payment for purchases from their store in either Bitcoins or dollars. This would give customers paying in Bitcoins an automatic 10% discount on their purchases. This discount for customers paying in Bitcoins, and the fact that the store accepts Bitcoins, would attract additional business to the merchant, and more than cover the cost of giving the discount.
Second, as long as merchants used their Bitcoins to purchase stuff they needed from other merchants also accepting Bitcoins, accepting Bitcoins wouldn't cost them anything at all. The 10% cost of converting Bitcoins back into dollars would only affect the last guy in the chain. This would suck dollars into the Bitcoin economy and keep the Bitcoins circulating.
Third, at a price of 90 cents each, early adopters who created and stashed hundreds of thousands of Bitcoins away back when mining was easy, have no chance of becoming Bitcoin Multibillionaires. They would have to settle for a modest reward for their contributions.
Bitcoins are presently trading at $15.80. What sorts of things could we do to incentivize them to trend towards their ideal value of 90 cents?
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