Topic: Bitcoins are pretty expensive (Read 2485 times)
They will be much more expensive in the future
Currenty, I believe speculative ups & downs are hurting the establishment of BTC as a reasonable alternative for online traders to Paypal etc.
BeeCoin
BeeCoin
Why are the bitcoins so expensive?
Does the price of them rising matter with the product bought with them?
Does the price of them rising matter with the product bought with them?
prices changing every day depends on for example how many people buy and sell them through the night. Lots of people just sell them when the price is heigh, and buy them when the price is low.
and they try to make profit this way. but personally i think it is really worth to keep them. even invest in them, as i believe prices ll go up and up as the real cash more and more inflated. anybody agree?
it's a simple economic explanation with supply and demand, and SPECULATION of course 
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It's all fun and games until somebody loses an eye
Why are the bitcoins so expensive?
Does the price of them rising matter with the product bought with them?
Does the price of them rising matter with the product bought with them?
Hundred dollar bills are expensive then too. I don't see anybody complaining about how much they cast, though.
If you're buying them to spend immediately, then no. Prices are still being determined dynamically in fiat by most merchants. Spend away!
But unfortunately most bitcoin-USD transfers aren't instant unless you have fiat laying around in some exchange.
10 = 1 Gigoshi
1 = 1 Bitcoin
0.01 = 1 Megoshi
0.00001 = 1 Kiloshi
0.000001 = 1 Hectoshi
0.0000001 = 1 Decoshi
0.00000001= 1 Satoshi
1 = 1 Bitcoin
0.01 = 1 Megoshi
0.00001 = 1 Kiloshi
0.000001 = 1 Hectoshi
0.0000001 = 1 Decoshi
0.00000001= 1 Satoshi
Suddenly, I feel like I am inside a Nintendo game...
which is why I prefer millicoins.
I mean at $0.12 per millicoin I can't see how people think they are too expensive*
*As if the nominal value really matters.
10 = 1 Gigoshi
1 = 1 Bitcoin
0.01 = 1 Megoshi
0.00001 = 1 Kiloshi
0.000001 = 1 Hectoshi
0.0000001 = 1 Decoshi
0.00000001= 1 Satoshi
1 = 1 Bitcoin
0.01 = 1 Megoshi
0.00001 = 1 Kiloshi
0.000001 = 1 Hectoshi
0.0000001 = 1 Decoshi
0.00000001= 1 Satoshi
Suddenly, I feel like I am inside a Nintendo game...
Yes, Bitcoins are expensive, however, I believe that what is important (in terms of trading and speculating) is their long term potential and % change in value over time, I believe that people are put-off by the idea of not being able to own a whole bitcoin, I would propose denominations on the Satoshi Scale as follows:
10 = 1 Gigoshi
1 = 1 Bitcoin
0.01 = 1 Megoshi
0.00001 = 1 Kiloshi
0.000001 = 1 Hectoshi
0.0000001 = 1 Decoshi
0.00000001= 1 Satoshi
10 = 1 Gigoshi
1 = 1 Bitcoin
0.01 = 1 Megoshi
0.00001 = 1 Kiloshi
0.000001 = 1 Hectoshi
0.0000001 = 1 Decoshi
0.00000001= 1 Satoshi
Why are the bitcoins so expensive?
Does the price of them rising matter with the product bought with them?
Does the price of them rising matter with the product bought with them?
I'm sure everyone has pointed out how inexpensive they were when you first made your post. But many products adjust their bitcoin pricing when it goes up. Like if bitcoin doubles in value vs the US dollar, they charge half a Bitcoin for it instead of a full one.
it is popular now ))
1oz of gold worth arround 1600$, if btc goes up to 1600$ per bitcoin, everyone will go crazy (me included)
For sure - but also understand that there are over 5 billion ounces of gold in existence and currently only around 10 million bitcoins (with the maximum amount ever to exist less than 21 million).
If bitcoins were to really be valued as being worth the same as gold then that would make 1 btc closer to 1 million USD.
Hehe, that'll be the day. Makes mining at 14 Mh/s seem a lot more worth it right now
whats happening i report the spam
1oz of gold worth arround 1600$, if btc goes up to 1600$ per bitcoin, everyone will go crazy (me included)
For sure - but also understand that there are over 5 billion ounces of gold in existence and currently only around 10 million bitcoins (with the maximum amount ever to exist less than 21 million).
If bitcoins were to really be valued as being worth the same as gold then that would make 1 btc closer to 1 million USD.
down again 
wtf
wtf The money we use now is originally used as a replacement for gold, I think the old US Dollar had something that says you can refund the money to gold anytime you want.
1BTC pegged to 1oz of gold would be quite nice.
quite nice indeed.
1oz of gold worth arround 1600$, if btc goes up to 1600$ per bitcoin, everyone will go crazy (me included)
The money we use now is originally used as a replacement for gold, I think the old US Dollar had something that says you can refund the money to gold anytime you want.
1BTC pegged to 1oz of gold would be quite nice.
quite nice indeed.
If I understand correctly the OP is wondering what makes bitcoins valuable.
The closest thing to bitcoin is gold, if you exclude using gold in jewelry [which is mostly to show it off], bitcoin and gold are similar in many ways.
Compare bitcoins to gold ingots, they turn out to be similar in many ways:
-Both are rare and limited in the world.
-Both require effort to produce.
-Both can be traded anonymously and are accepted as payment methods in many places.
-Both have no way of reversing the payment unless the person who received them willingly sends them back.
-Both have a deflating value, not really deflating but rather than the money we use is inflating
The money we use now is originally used as a replacement for gold, I think the old US Dollar had something that says you can refund the money to gold anytime you want.
TL;DR version: bitcoin is the new gold
The closest thing to bitcoin is gold, if you exclude using gold in jewelry [which is mostly to show it off], bitcoin and gold are similar in many ways.
Compare bitcoins to gold ingots, they turn out to be similar in many ways:
-Both are rare and limited in the world.
-Both require effort to produce.
-Both can be traded anonymously and are accepted as payment methods in many places.
-Both have no way of reversing the payment unless the person who received them willingly sends them back.
-Both have a deflating value, not really deflating but rather than the money we use is inflating
The money we use now is originally used as a replacement for gold, I think the old US Dollar had something that says you can refund the money to gold anytime you want.
TL;DR version: bitcoin is the new gold
You got it all right!
If I understand correctly the OP is wondering what makes bitcoins valuable.
The closest thing to bitcoin is gold, if you exclude using gold in jewelry [which is mostly to show it off], bitcoin and gold are similar in many ways.
Compare bitcoins to gold ingots, they turn out to be similar in many ways:
-Both are rare and limited in the world.
-Both require effort to produce.
-Both can be traded anonymously and are accepted as payment methods in many places.
-Both have no way of reversing the payment unless the person who received them willingly sends them back.
-Both have a deflating value, not really deflating but rather than the money we use is inflating
The money we use now is originally used as a replacement for gold, I think the old US Dollar had something that says you can refund the money to gold anytime you want.
TL;DR version: bitcoin is the new gold
The closest thing to bitcoin is gold, if you exclude using gold in jewelry [which is mostly to show it off], bitcoin and gold are similar in many ways.
Compare bitcoins to gold ingots, they turn out to be similar in many ways:
-Both are rare and limited in the world.
-Both require effort to produce.
-Both can be traded anonymously and are accepted as payment methods in many places.
-Both have no way of reversing the payment unless the person who received them willingly sends them back.
-Both have a deflating value, not really deflating but rather than the money we use is inflating
The money we use now is originally used as a replacement for gold, I think the old US Dollar had something that says you can refund the money to gold anytime you want.
TL;DR version: bitcoin is the new gold
If you trust the blockchain enough, you can also see bitcoin as a very good long term investment.
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