A low Bitcoin is a good Bitcoin | Bitcointalksearch.org

kingcolex

sr. member

Activity: 254

Merit: 1258

Quote from: Possum577 on March 08, 2015, 12:58:12 AM

Quote from: Q7 on January 19, 2015, 09:22:24 AM

But don't stay low for too long. Grin

it's bad in terms of morale.
So now it's a good time and opportunity to buy. Let's push up demand and price.

No, it's not bad in terms of morale. That's what the OP is saying, the speculation (i.e., the "to the moon talk") is hurting widespread use and acceptance of BTC as a currency.

I don't see how speculation on a high price would stop BTC use as a currency, two different types of BTC users, Investors and currency users. Currency users have positives of low fees, easy transfer and no Credit Card number thefts. Investors have ease of transfer, no premium, active market and extreme liquid ability.

Possum577

sr. member

Activity: 434

Merit: 250

Loose lips sink sigs!

Quote from: Q7 on January 19, 2015, 09:22:24 AM

But don't stay low for too long. Grin

it's bad in terms of morale.
So now it's a good time and opportunity to buy. Let's push up demand and price.

No, it's not bad in terms of morale. That's what the OP is saying, the speculation (i.e., the "to the moon talk") is hurting widespread use and acceptance of BTC as a currency.

Zoomer

hero member

Activity: 658

Merit: 500

Quote from: michinzx on January 19, 2015, 06:52:29 PM

great for buyers and investors, bad for miners

It cannot always be great for miners though can it? They have had along time of the good times it is time they deal with some not so good times but it is not terrible by any means they are getting by ok.

The op is right and i agree the price is not what really matters.

specgamer

sr. member

Activity: 252

Merit: 250

I love bitcoins.

The lower the price the better, well for now at least. It gives individual investors like us to have a chance to purchase and whether use them or hold them for future.

Daniel91

legendary

Activity: 3374

Merit: 1824

In my opinion low price is the best opportunity to buy Bitcoin and earn good profit from it when price rise later.
Of course, if this negative trend with BTC price continue, more and more people may give up from BTC and sell it, what is not good in the long term.

bornil267645

sr. member

Activity: 406

Merit: 250

AltoCenter.com

The main fact is the level of price. It doesn't matter low or high. If low it is really good but the best is it's stability.

runpaint

sr. member

Activity: 518

Merit: 250

Quote from: pleaseexplain on January 19, 2015, 07:57:53 PM

The price of bitcoin is always at the right price. using your 2 examples - if you enter the market place with 20 million dollars to buy bitcoin you might well find you will not get them all for $1. they will go up. So you might only need say 5,000 bitcoins to send the 20 million dollars.
If 500 million people have bitcoin and want to spend $10 worth you might find they can do that by selling just a satoshi.

Unless you are buying and selling bitcoin to make money (speculating) then the price of a bitcoin is irrelevant.

So for the purpose of transferring 20 million dollars, I could buy a few million bitcoins for $1 each, and then I could pay $100 each for the rest of them, and you think I could feel safe sending those bitcoins and calling it 20 million dollars?

Who would I send them to?

Who would accept them for payment, when some of them cost $1 and some of them cost $100?

If I bought the first million for $1 each, and then I paid $100 each for the last of them, why would I send millions of bitcoins and call it $20million when the current price of bitcoin is now $100 each?

Maybe you want to just agree with me and say "If Bitcoin was $1.00 then nobody could use it to send someone a value of 20 million dollars"

el kaka22

legendary

Activity: 3710

Merit: 1170

www.Crypto.Games: Multiple coins, multiple games

Quote from: michinzx on January 19, 2015, 06:52:29 PM

great for buyers and investors, bad for miners

ii want build some bitcoin mining rig but i just changed my mind Cheesy

much better i buy some bitcoin and making something worth from that

pleaseexplain

member

Activity: 73

Merit: 10

Quote from: runpaint on January 19, 2015, 04:54:40 PM

There are only a few million bitcoins in existence.

Therefore, the price will go much higher, or bitcoin will not be used around the world by millions of people.

If I wanted to send 20 million dollars in bitcoin, but the price of bitcoin was only $1.00, I would have to buy all the bitcoins in existence. And I still wouldn't have enough bitcoins.

Similarly, if 500 million people wanted to spend $10.00 a day in bitcoin, the price of 1 bitcoin would have to be a lot higher than $100. Otherwise there wouldn't be enough bitcoins for the system to work.

So a low price isn't necessarily good for bitcoin. It just means that there aren't many people using bitcoin.

The price of bitcoin is always at the right price. using your 2 examples - if you enter the market place with 20 million dollars to buy bitcoin you might well find you will not get them all for $1. they will go up. So you might only need say 5,000 bitcoins to send the 20 million dollars.
If 500 million people have bitcoin and want to spend $10 worth you might find they can do that by selling just a satoshi.

Unless you are buying and selling bitcoin to make money (speculating) then the price of a bitcoin is irrelevant. But whatever it is, it needs to be fairly stable as that influences peoples use (and extent of holding) it.

A lower price will though have a psychological effect on some and they may get involved with bitcoin becasue of it. eg if it goes to say $50 then people thknk "oh I cna buy one for $50". "That is quite good". If when bitcoin was $1,000 you said for $50 you could buy 0.05 part of a bitcoin they would see that as "not good' even though they are the same. The average person (and I am one) gets bamboozled when they have to visualise 5% for example. It is also why naming conventions for parts of a bitcoin are a topic in themselves

AtheistAKASaneBrain

hero member

Activity: 770

Merit: 509

Quote from: Brewins on January 19, 2015, 04:00:55 PM

It is not good for miners, at least at current difficulty.

If prices fall more, then some of them will have to stop operating and it will result the network unstable for some time

But some may see it as an opportunity. The less miners the more you get since there is less to spread among miners, so it gets somewhat balanced. Everything has its risks.

michinzx

sr. member

Activity: 364

Merit: 250

great for buyers and investors, bad for miners

gjgjg

sr. member

Activity: 448

Merit: 250

Quote from: Brewins on January 19, 2015, 04:00:55 PM

It is not good for miners, at least at current difficulty.

If prices fall more, then some of them will have to stop operating and it will result the network unstable for some time

i just noticed the difficulty dropped twice in a row last few months, not sure its done that in a while! but i guess its a sign that the system is balancing, sure if price stays low it will force out some miners but it probably wont be long before it balances and stabilizes...

it may be a psychological barrier more than anything but lower coin prices attract more new users.

runpaint

sr. member

Activity: 518

Merit: 250

There are only a few million bitcoins in existence.

Therefore, the price will go much higher, or bitcoin will not be used around the world by millions of people.

If I wanted to send 20 million dollars in bitcoin, but the price of bitcoin was only $1.00, I would have to buy all the bitcoins in existence. And I still wouldn't have enough bitcoins.

Similarly, if 500 million people wanted to spend $10.00 a day in bitcoin, the price of 1 bitcoin would have to be a lot higher than $100. Otherwise there wouldn't be enough bitcoins for the system to work.

So a low price isn't necessarily good for bitcoin. It just means that there aren't many people using bitcoin.

Brewins

legendary

Activity: 1120

Merit: 1000

It is not good for miners, at least at current difficulty.

If prices fall more, then some of them will have to stop operating and it will result the network unstable for some time

4ever

full member

Activity: 140

Merit: 100

Quote from: doctorbyte on January 19, 2015, 08:38:04 AM

In the last time there are many "Bitcoin is death" posts. I would say that our lovely Bitcoin transfers back to a payment method,a Currency.

Bitcoin is not a free money making Tree.

A low price means a better acceptance in the World (more people have more coins), we don't need to speculate about the price.

I would definitely buy more of it at 100$. Not because the price is low, but because it just feels safer to invest into .

Biitcoin

sr. member

Activity: 353

Merit: 250

Zichain

Quote from: doctorbyte on January 19, 2015, 08:38:04 AM

In the last time there are many "Bitcoin is death" posts. I would say that our lovely Bitcoin transfers back to a payment method,a Currency.

Bitcoin is not a free money making Tree.

A low price means a better acceptance in the World (more people have more coins), we don't need to speculate about the price.

It dosen't matter if it's low or high , I would say a Stable Bitcoin is a good Bitcoin Grin

price should be simply stable

fenghush

sr. member

Activity: 658

Merit: 250

It's a good time to start a bitcoin business with the low prices if your business model allows you to hold on to them rather than sell them to keep the business running. So when/if bitcoin raises .. profit!

Febo

legendary

Activity: 2744

Merit: 1288

Quote from: doctorbyte on January 19, 2015, 08:38:04 AM

A low Bitcoin is a good Bitcoin

I like that moto.

Q7

sr. member

Activity: 448

Merit: 250

But don't stay low for too long. Grin

it's bad in terms of morale.
So now it's a good time and opportunity to buy. Let's push up demand and price.

doctorbyte

jr. member

Activity: 140

Merit: 1

In the last time there are many "Bitcoin is death" posts. I would say that our lovely Bitcoin transfers back to a payment method,a Currency.

Bitcoin is not a free money making Tree.

A low price means a better acceptance in the World (more people have more coins), we don't need to speculate about the price.

Topic: A low Bitcoin is a good Bitcoin (Read 1588 times)