Bitcoin, how does it work and what affects its price?

zazarb

legendary

Activity: 3542

Merit: 1548

Get loan in just five minutes goo.gl/8WMW6n

Quote from: maxman190 on September 15, 2018, 05:24:26 AM

Influence on bitcoin is provided by the main miners, they control when to grow or when to fall down, after which they buy or resell it.

I do not agree that miners controls this market and that it is up to them, when the price rises or when to fall down. Because their goal is to earn as much as many, so it is important for them that the price is as high and stable as possible. Therefore, if they had the biggest impact, the price would not be so low now.

basyang

full member

Activity: 644

Merit: 100

Quote from: leesan on May 21, 2018, 03:18:24 AM

Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin. The virtual currency rocketed in value last year before crashing during the first quarter of 2018, and possibly proving the naysayers right.

But in recent weeks the price has begun rising again. Although it remains well below its peak of $20,000, it has shown steady gains to reach more than $8000 sparking a fresh surge in interest.

Bitcoin has a big impact on the market. Demand and supply are really importants. Demands on coins it is a desire to buy more coins, tokens and others while the supply is we need a enough coins and tokens to continues the process. Personally, I know that the affect of bitcoin price is because of buying of bitcoin when its low and selling when the price is high.

darewaller

hero member

Activity: 2968

Merit: 640

Quote from: tailwate07 on October 02, 2018, 03:19:29 AM

Bitcoin works better than fiat currency and all the other crypto coins but it depends upon the interest of country, people and their government. If they want to get benefit of the Bitcoin then it will result better than any other currency just like Germany is getting benefit as payment mode, investment source as well as payment of loans using by banks. They are using it for the betterment of country.

Bitcoin works in supply and demand clearly. When there are more people wanting to buy than people that wants to sell the price of bitcoin goes up. When there are more people who wants to sell than people who wants to buy the price goes down. These keep happening until the amount of people who wants to sell and people who wants to buy goes head to head at which time the price stabilizes a bit (couple percent moves at most).

This means if you want bitcoin to go up than you need to make people want to buy and not sell, which is FOMO (fear of missing out) people buy stuff they think they will make money.

tailwate07

full member

Activity: 368

Merit: 104

Quote from: deppil on September 28, 2018, 09:22:26 PM

Quote from: bitcoindusts on September 04, 2018, 10:48:57 AM

Quote from: Sebas.tian on August 25, 2018, 09:20:49 AM

As for the price dependencies, I believe this is purely controlled by the news--wether good or bad.

One can never rule out the effect of news (good or bad) when it comes to bitcoin. As much as we i want the price of bitcoin be ruled by market activities, there is a significant amount of influence that mass media dictates on bitcoin's price, just as much as any investing instrument experiences.

Speculation will always be an intrinsic part of bitcoin, our trust and interest will always flactuate depending on the crips and quality of the news revolving around our favored cryptocurrency.

Though i believe that the time will come that no news can affect the strength of bitcoin in the coming years. Soon we will see how steady bitcoin can become as it provides us with reliable technology and system of payment.

nope because demand and supply depend on how the action is on its users and as long as news, issues and speculation still affect the choice of users and investors. then that aspect will continue to influence to the bitcoin market. it is impossible for a market not to be affected by any aspect

Bitcoin works better than fiat currency and all the other crypto coins but it depends upon the interest of country, people and their government. If they want to get benefit of the Bitcoin then it will result better than any other currency just like Germany is getting benefit as payment mode, investment source as well as payment of loans using by banks. They are using it for the betterment of country.

napi

member

Activity: 350

Merit: 10

the way bitcoin works, I think it may depend on the total supply and depending on the number of platforms that start accepting payments using bitcoin, when payments start using a lot of bitcoin, the price can be very expensive.

deppil

hero member

Activity: 1008

Merit: 501

Quote from: bitcoindusts on September 04, 2018, 10:48:57 AM

Quote from: Sebas.tian on August 25, 2018, 09:20:49 AM

As for the price dependencies, I believe this is purely controlled by the news--wether good or bad.

One can never rule out the effect of news (good or bad) when it comes to bitcoin. As much as we i want the price of bitcoin be ruled by market activities, there is a significant amount of influence that mass media dictates on bitcoin's price, just as much as any investing instrument experiences.

Speculation will always be an intrinsic part of bitcoin, our trust and interest will always flactuate depending on the crips and quality of the news revolving around our favored cryptocurrency.

Though i believe that the time will come that no news can affect the strength of bitcoin in the coming years. Soon we will see how steady bitcoin can become as it provides us with reliable technology and system of payment.

nope because demand and supply depend on how the action is on its users and as long as news, issues and speculation still affect the choice of users and investors. then that aspect will continue to influence to the bitcoin market. it is impossible for a market not to be affected by any aspect

Salloystic

newbie

Activity: 219

Merit: 0

I think bitcoin is an example of capitalist system of market in which the forces of demand and supply control it's price. When there is high demand of it the market the market price will rise, while the price will be low when supply is high

s31joemhar

sr. member

Activity: 602

Merit: 258

There are many factors that are affecting the BTC's price. One of these factors is the hodling system. As far as I know holding such of BTC or other cryptocurrency in the market lets the price increase at its supplies was too small and the demand is high. It is the nature of the economy, once the supply was limited and the demand is high automatically the price of a particular matter will increase.

maxman190

full member

Activity: 350

Merit: 100

Influence on bitcoin is provided by the main miners, they control when to grow or when to fall down, after which they buy or resell it.

bitcoindusts

sr. member

Activity: 1092

Merit: 271

Quote from: Sebas.tian on August 25, 2018, 09:20:49 AM

As for the price dependencies, I believe this is purely controlled by the news--wether good or bad.

One can never rule out the effect of news (good or bad) when it comes to bitcoin. As much as we i want the price of bitcoin be ruled by market activities, there is a significant amount of influence that mass media dictates on bitcoin's price, just as much as any investing instrument experiences.

Speculation will always be an intrinsic part of bitcoin, our trust and interest will always flactuate depending on the crips and quality of the news revolving around our favored cryptocurrency.

Though i believe that the time will come that no news can affect the strength of bitcoin in the coming years. Soon we will see how steady bitcoin can become as it provides us with reliable technology and system of payment.

BitcoinPanther

hero member

Activity: 1918

Merit: 564

How does bitcoin works? Allow me to start with the basics.

A lot of other digital cash projects were launched prior bitcoin became a success. But bitcoin was able to solve one important factor that everyone is afraid of, the double spending. The guarantee that no one can send the same amount to two or more people was only solved by bitcoin through peer consensus.

It was at this point that bitcoin was able to bring in the much needed confidence to allow a truly digital cash system to surface.

And that's how and why bitcoin works.

regadly

newbie

Activity: 79

Merit: 0

I believe the growth is affected by the first need for a digital currency, for the digital economy. The second crisis and the bubble in Fiat currency.

CrazeCoinz

member

Activity: 364

Merit: 10

The price of bitcoin is now slowly climbing up and hopes that this will continue to move closer to $8k in few weeks. Maybe we can see a $12k for this year and then continue a bull run for next year. More demands will make the price rise higher as we hope a good news will come to ignite the market into bullish.

zolfa

member

Activity: 518

Merit: 11

I think challengers make mistakes, they will feel happy when the crypto market is weak, but when the crypto market is strong, the crypto and bitcoin worlds will make it weak and regret.

Bitcoin systems work by using the blockchain system, which stores millions of transactions, each hash or block has a code that must be solved by miners.

Mundo12

newbie

Activity: 114

Merit: 0

Many analysts believe that the Bitcoin ETF on CBOE could push the biggest coin price up to $ 50,000. That's a real number, when you consider Bitcoin supplies. However, the decline has led to a decrease in Bitcoin prices

DJ_Rick

member

Activity: 241

Merit: 10

I think that btc is the best coin and the price is affected by many factors including the supply and demand. to my mind, it is better to choose ether and btc. You should check how the blockchain technology works before investing in it

Sebas.tian

full member

Activity: 2184

Merit: 184

Hire Bitcointalk Camp. Manager @ r7promotions.com

There are articles, videos, blog, etc that can be find in the internet relating to bitcoin and how it works so you might just want to lool at it is more reliable. As for the price dependencies, I believe this is purely controlled by the news--wether good or bad.

yayat

full member

Activity: 434

Merit: 102

The way Bitcoin works is very easy, he is transferred from Wallet a to Wallet B through transactions that are on the Blockchain.
with great Anonymity and speed.

Which affects the price because there are many requests from traders to buy Bitcoin.

Gurjasmeet

copper member

Activity: 196

Merit: 0

I think it's all depends upon them demands.there is a fundamental rule if a product has big demand in the market & the supply is less than its demand.there results will be high price.

James Fleming

newbie

Activity: 28

Merit: 0

It has value largely because a lot of people think it has value. Like other commodities, currencies and tradable stuff, if people are willing to pay for it, then it has value. If people are willing to accept it as payment, then it can be used to transfer value. If people are willing to buy and keep it, then it can be used as a store of value.

Bitcoin however, isn’t all hype. Unlike ponzi schemes or turlips and such, bitcoin is a real thing. It’s a global network that’s not controlled by anybody, and does one thing very very well: keeping a record of who paid bitcoins to who that cannot be modified, destroyed or reverted any anybody. One cannot possible comprehend why this is a big thing if you don’t know how insurmountable a task this is as a software developer. Bitcoin is grounded in solid technical fundamentals, and is one of the few wonderfully written piece of software that got the mass recognition it deserves.

So yes, bitcoin has value, as real as other things that has value, and I highly recommend you look deeper into it beyond the trading, currency and hype if you want to know more about how technologies like these can help us build infrastructures for the world of tomorrow.

Sydney Chapman

newbie

Activity: 26

Merit: 0

Like all things value is determined by basic demand. While the bitcoin market is very new and still vary susceptible to price swings bitcoin is worth what it is because of a few broader philosophical ideas:
It's a means of transferring wealth outside of the given institutions governed by centralized (and objectively biased) institutions. This simple idea alone adds to the "value" of bitcoin.
Bitcoin is the only completely transparent way of exchanging wealth. Every transaction is publicly listed on what's called the Blockchain. (Blockchain.info)
It's as anonymous as you'd like it to be. While every transaction is publicly viewable, it doesn't have to be tied to an individual, there are methods of cycling transactions that create a virtually untraceable exchange.
It's global. I can trade with anyone in the world virtually instantly without having to exchange one foreign currency for another. Even countries that have strict currency laws can be subverted, as long as both parties have access to the internet.

GeorgiyBilyk

member

Activity: 378

Merit: 10

I have been trying to understand the entire crypto market for a year already! and I am ready to say with great certainty that no one will ever be able to say what will happen tomorrow with a crypto market, or what the price will be tomorrow! Crypto market is very unpredictable !!!! I certainly believe only in good, the only thing I hope that bitcoin will soon cost about 50,000!))) I add that the price affects everything that happens in the world!

Sonik33

jr. member

Activity: 138

Merit: 1

bitcoin prices this year are not as good as last year, but in the last few months I see bitcoin prices so somewhat stable, the price movement is not far away, if it can be more stable then bitcoin would be more worthy to become official currency.

mfyilmaz

jr. member

Activity: 82

Merit: 2

Bitcoin works because of trust and people trust it because they dont need to trust but have full controll... everybody knows exactly how many btc are there who owns how many and who transfers to whom... you dont need to ask questions because everything is so transparent that there are no questions and that is the reason people want to use it because they work hard for their wealth and they dont want some people to controll their wealth... well at least thats the reason for me.

Dharmmie

copper member

Activity: 71

Merit: 1

Helpful comments

hknknitin

copper member

Activity: 48

Merit: 0

Bitcoin, currently the most famous digital currency, is used for transacting money privately with low cost money transfer. It is also being used, in the legalised part of the world, for purchasing of day-to-day goods. It works with transparency with the help of Blockchain technology. Its price is governed by supply and demand of it in the market mainly plus the major bitcoin holders also affects the valuation of bitcoin to some extent.

ronalsi

newbie

Activity: 42

Merit: 0

There are a number of reasons that affect the price of Bitcoin, as bitcoin's intrinsic fluctuations are often affected by any negativity and FUD can lead to price cuts.

hadveach

full member

Activity: 448

Merit: 102

in fact, bitcoin is very easy to destroy, and dropped. but I think that a large volume of public enthusiasm becomes a bitcoin buffer, so bitcoin can survive until today.

of course, bitcoin works with the concept of decentralized, anonymous, so the volatility is very high.

I say that bitcoin is easy to drop, because all factors affect the value of bitcoin except for factors related to world politics and economics.

rodskee

full member

Activity: 2520

Merit: 204

Nothing to discuss argument about bitcoin how does it work and their affects in the users or the ethusiasm bitcoiners, people before they can adopt bitcoi as currency they know how is work as digital currency moving high volatile fluctuations.

Markettoken

newbie

Activity: 84

Merit: 0

bitcoin can not be said clearly and known certainty so in my opinion that affect the price and its value is the increased demand for bitcoin while bitcoin available is limited and
which can make a lot of bitcoin enthusiasts is the spread of news or good news about bitcoin

bungutko

newbie

Activity: 280

Merit: 0

In my opinion, it is purely economics on the law of supply and demand. If supply is low and demand will be high, price will increase. However, due to volatility in nature of bitcoin usually has been affe ted by any negativity and FUD that could result to dip in price. Another scenario, whale investors manipulation also has an involvement in every bear market wher it could also impact the growth of btc.

pyosar

newbie

Activity: 65

Merit: 0

People are not predictable and we can not say exactly what is the reason for increasing interest in bitcoin. Most likely, people analyze schedules for technical analysis and, based on this, make the same decisions, so the price is growing.

Zentor

member

Activity: 378

Merit: 12

Sadly bitcoin price is often manipulated by whales and depends on their plans, in my opinion. A lot of articles were written already about his algorithms and principles of work, you need just to google it

raahi

newbie

Activity: 224

Merit: 0

To understand that you must first know that it is a cryptocurrency and secondly that it is decentralized, unlike many other cryptocurrencies, bitcoin price is decided on the basis of democracy which means that demand and supply regulate its price value so look at the transaction volume per day for a good estimate.

Raggie

member

Activity: 462

Merit: 10

Quote from: leesan on May 21, 2018, 03:18:24 AM

Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin. The virtual currency rocketed in value last year before crashing during the first quarter of 2018, and possibly proving the naysayers right.

But in recent weeks the price has begun rising again. Although it remains well below its peak of $20,000, it has shown steady gains to reach more than $8000 sparking a fresh surge in interest.

i think the most factor that affecting bitcoin price is the issue of regulations and news. I heard that bitcoin increasing price lately because SEC announce that BTC and ETH are not a security coin.
So, it is important for the community of bitcoin that a fud should not spreading in the community.

juiceannabel

newbie

Activity: 224

Merit: 0

Quote from: leesan on May 21, 2018, 03:18:24 AM

Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin. The virtual currency rocketed in value last year before crashing during the first quarter of 2018, and possibly proving the naysayers right.

But in recent weeks the price has begun rising again. Although it remains well below its peak of $20,000, it has shown steady gains to reach more than $8000 sparking a fresh surge in interest.

Even bitcoin has decreasing down to $6k now. You cannot predict the bitcoin price.
the factor that affecting its price may various. In my opinion, there are some whales playing their game.
Let see later if they buyback they dumped coins.

Missterio

newbie

Activity: 308

Merit: 0

The price of bitcoin depends on its capitalization

Lingqingyi

member

Activity: 168

Merit: 10

Open and Transparent Science Powered By Blockchain

Bitcoin and blockchain are inseparable, so you should know more about blockchain.
Most of the time, the information that affects the price of bitcoin is from various media.

thereactor334

newbie

Activity: 112

Merit: 0

Quote from: vsamardzhiev98 on June 07, 2018, 02:01:00 PM

i think there is a big chance of it going 20k + in future

Yah maybe it will go to moon again soon, But right now I"m reviewing an upcoming token. What can you say about LEDU token . The Education Token Whic focuses on bringing professional development to the next level.

Tosg399

newbie

Activity: 27

Merit: 0

Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin. The virtual currency rocketed in value last year before crashing at the start of 2018.

But bitcoin appears here to stay, at least for the time being. The price has remained steady in recent weeks, although it has yet to reach close to the high points of last year. Although it remains well below its peak of $20,000, it has remained around $7,500 (£5,650) over recent months.

There have been spikes along the way, possibly caused by mass computer trading or short sellers jumping ship and encouraging buyers to flood back in.

Magiklair

member

Activity: 293

Merit: 10

Some experts predict the collapse of bitcoin. Others assume that when the maximum emission is reached, the rate of the Crypto currency will begin to change approximately the same as the real ones - to move up and down under the influence of various factors. Therefore, do not make hasty conclusions about whether it is worth buying bitcoins in 2018. It is best to weigh all the pros and cons first.

Dexion

full member

Activity: 812

Merit: 101

and some technologies will not be able to withstand the revival of the crypto market for a long time, especially when conditions such as long correction today. blockchain can make it rise quickly like a rocket, and also capable of making a drastic fall, and it is very painful.

and now we see bitcoin falling again, and proving us that the technology is not able to control blockchain in a long time.

dutchkay

full member

Activity: 434

Merit: 100

Bitcoin is a virtual currency not backed by any commodity and also not controlled by any entity including the government. Have a limited supply of 21 billion. The demand and supply of bitcoin is simply what controls the price and this is simple economics. Though some set of individuals that calls themselves whales will always try to manipulate the price to their favor but not for long and believe me it's not easy to do that.

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

Quote from: leesan on May 21, 2018, 03:18:24 AM

Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin.

not really. bitcoin is still too small. when you are inside it and are only hanging out in bitcoin related gatherings on the internet all you see is bitcoin-related discussions so you may think it is stirring a lot of debates!

Quote

The virtual currency rocketed in value last year before crashing during the first quarter of 2018, and possibly proving the naysayers right.

not really!
last year price was $900 and now it is $7500+ which is a 733% rise in ~1.5 year time.
what do "naysayers" have to say?

Quote

But in recent weeks the price has begun rising again. Although it remains well below its peak of $20,000,

wrong again.
price is at $7588 at this moment which remains well above last year's $900

Quote

it has shown steady gains to reach more than $8000 sparking a fresh surge in interest.

wrong again.
everything is still pretty much the same. the "surge of interest" will come when price goes above $9k at least.

Doterti

newbie

Activity: 65

Merit: 0

Quote from: kipo on June 07, 2018, 03:19:59 PM

The reasons for the drop in bitcoin prices are many, among them - the tightening of the regulation of crypto-currency from the world regulators. Another reason for the drop in the cost of bitcoins is the uncertainty of investors that large, as well as new capital will come to this market, and the dynamics of growth will not be as impressive as before.

Bitcoin works within a system which represents as a currency or known as crypto currency and it affects the bitcoin price due to its technical issues and security which the hackers can intervene or to steal its property so we should be more protective,productive and do some research and survey which it can help the bitcoin industry to be a good industry in the society.

kipo

member

Activity: 294

Merit: 10

The reasons for the drop in bitcoin prices are many, among them - the tightening of the regulation of crypto-currency from the world regulators. Another reason for the drop in the cost of bitcoins is the uncertainty of investors that large, as well as new capital will come to this market, and the dynamics of growth will not be as impressive as before.

swissgang

full member

Activity: 462

Merit: 100

It is more than demand and supply, we know when demand is higher it will rise but we try to learn what affects the demand, I think lots of things like fud, news, whales...

boy130

sr. member

Activity: 616

Merit: 263

Unlike traditional currencies, crypto based currencies are largely affected by the media, and these tend to run in packs. If there is even the slightest hint of negative press around a cryptocurrency, then a whirlwind begins which leads to more and more negative articles being produced, leading to FUD and a price drop.

vsamardzhiev98

newbie

Activity: 3

Merit: 0

i think there is a big chance of it going 20k + in future

PaulTrace

newbie

Activity: 61

Merit: 0

When the demand is larger than supply then prise become high otherwise fall down.

19nataliya12

jr. member

Activity: 154

Merit: 3

Crypto currency is a revolutionary new type of currency. Like any other currency or measure of value, they are valuable as much as we value them. Some currencies are provided by gold or other precious metals. The cost of others is supported only by their popularity and value in the eyes of people.

Crypto-currencies were conceived as conditional units for the storage of capital, which are not influenced by the central banks of the countries of the world. Let's look at the main factors that influence the formation and change of the price of the crypto currency. All of the above applies to all digital coins, not just bitcoin

benhill

newbie

Activity: 304

Merit: 0

Bitcoin works on a public ledger called a blockchain, which holds a decentralised record of all transactions that is updated and held by all users of the network.Bitcoin jumbed up and come down,but demand and supply affect the price.

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

Quote from: leesan on May 21, 2018, 03:18:24 AM

But in recent weeks the price has begun rising again. Although it remains well below its peak of $20,000, it has shown steady gains to reach more than $8000 sparking a fresh surge in interest.

I have been seeing a bunch of topics like this that report weird things about price! another one was saying price has not yet fallen below $9000. and now you are saying in recent "weeks" it has been rising!!! so I want to ask where are you people getting your data from?!

price has been mostly going down in the past weeks and it still has not moved enough to be considered "rising" it is still pretty much in the same zone as it was before, round $8.5k. unless it starts testing $9k, that is not a rise or "steady gains".

solopay669

newbie

Activity: 90

Merit: 0

I think it's all special, they have their own policy there)) and bitcoin should be available in your resource unequivocally, and do not rush to spend it.

leesan

newbie

Activity: 10

Merit: 0

Few technologies have the ability to stir passionate online debate and baffle the vast majority of the population as bitcoin. The virtual currency rocketed in value last year before crashing during the first quarter of 2018, and possibly proving the naysayers right.

But in recent weeks the price has begun rising again. Although it remains well below its peak of $20,000, it has shown steady gains to reach more than $8000 sparking a fresh surge in interest.

Topic: Bitcoin, how does it work and what affects its price? (Read 1595 times)