♨♨♨ Bitcoin's Price Is Too High ♨♨♨

Kayum10029

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Quote from: ShortCoins on December 15, 2017, 11:17:20 AM

Lets compare bitcoins price rise to a bottle of water. Since water is something EVERYONE needs

Water:

2008 - 50 cents
2017 - 1 dollar

2x increase

Bitcoin:

2008 - $0.003
2017 - $18,000 dollars

6,000,000x increase

Clearly water (and the demand for it) is more important than bitcoin. Yet water appreciated 2x in value while an imaginary, invisible, untangible thing called bitcoin has increased 6 million times. If water increased by the same amount it woud cost 3 million dollars for a bottle today.

Would you pay 3 million for 24 fluid ounces of water? No.

Then why would you buy bitcoin for the same inflated price?

yes it is very informative information. when bitcoin was started it journey the price of bitcoin was about. 0.3cent but in present situation bitcoin price is about $15000+ really it is amazing high.

Essaint56

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The price of bitcoin has reached that far because of its popularity. Every day many and many investors come in to buy coins to invest. The community is growing that is why the price is getting high.

Yarsk

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The technology behind bitcoin is very high it has all the features that it need to succeed in the market, so even due the price rise to one million dollars today it will not affect bitcoin in any way investors will still come in and bitcoin will scale through the market. We are praying for the price to keep rising in other for it to get popular and generally accepted.

CryptoKranthi

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Activity: 182

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Quote from: ShortCoins on December 15, 2017, 09:34:05 AM

We've mined 17m of the 21m bitcoin already.

In that time bitcoin has gone up 6 million times its original value! That makes no sense at all. Even 1000x - 10000x increase would be rather absurd

Bitcoins price is WAYYYYY TOOO HIGH!!! Only 1% of the world has adopted the coin so far. It makes no sense that the first 1% to adopt (aka miners and HODLers) should get up to a 6 million times return on their money. While someone adopting today would get a one times return. That's simply not feasible. The remaining 99% of the population will not agree to deflate their own purchasing power by 6 million - they will just continue to use Fiat.

That's the biggest problem that will prevent bitcoin from scaling.

https://www.youtube.com/watch?v=F7luAHdv61k

Heres a great video from Crypto Daily discussing the problems of bitcoins price

Yeah. But do you think bitcoin will still grow like it did with 10000X times returns? It will not grow like tht but sure it will grow.

barbara44

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Merit: 605

Quote from: Kryten12 on December 16, 2017, 01:41:23 AM

It is high but I think it is a response to the stranger and more questionable policies of the worlds' central banks with their inflationary practices

Definitely these banks and central systems had their own will and nature. And they were imposing their decisions on us because they knew these people don’t have any choice. So no I think bitcoins have helped us to regain our dignity from these corrupt and dishonest systems and tasted them the fun of competition. These banks are now in danger and they deserve this.

evemms

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Quote from: ShortCoins on December 15, 2017, 09:34:05 AM

We've mined 17m of the 21m bitcoin already.

In that time bitcoin has gone up 6 million times its original value! That makes no sense at all. Even 1000x - 10000x increase would be rather absurd

Bitcoins price is WAYYYYY TOOO HIGH!!! Only 1% of the world has adopted the coin so far. It makes no sense that the first 1% to adopt (aka miners and HODLers) should get up to a 6 million times return on their money. While someone adopting today would get a one times return. That's simply not feasible. The remaining 99% of the population will not agree to deflate their own purchasing power by 6 million - they will just continue to use Fiat.

That's the biggest problem that will prevent bitcoin from scaling.

https://www.youtube.com/watch?v=F7luAHdv61k

Heres a great video from Crypto Daily discussing the problems of bitcoins price

How is it any different to many other things? Diamonds could easily be mined in many countries previously, same as oil or gold, the early adopters made a fortune because they realised the value such things could have. The same can be said for early adopters of the internet.

Essaint56

newbie

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Merit: 0

I think it is because merchants now accept bitcoins as payment. The more the movement in bitcoins like trading, the more the higher its market value.

Nhor1011

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Daxetoken.net

Bitcoin price is to high because it is in demand. Many users and investors are now log in the world of bitcoin that brings poppularity to this kind of currency.

jtipt

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Activity: 1050

Merit: 529

Quote from: SyGambler on December 15, 2017, 11:09:16 AM

This doesn't only apply to bitcoin, it applies to all rare things and things that have certain cap
Yeah some people may not like it , but its a normal thing
Everyone who gets in early in something successful should be rewarded

In case of bitcoin it's just the hype. Compared to btc gold is much more rare and adopted worldwide but still cheaper than btc, reason being there is no hype for gold. Newer adopters of bitcoin are just adopting it because of fear of losing out, bitcoin obviously is a bubble but it's not going to burst anytime soon.

ajiejot

full member

Activity: 392

Merit: 112

Yes it is! Bitcoin price is already high, it will continue to rise for the next months or years. Bitcoin price is rising because of the demands, everyday bitcoin is introducing to ever new people. It keep rising the demand of bitcoin. Because people know that bitcoin is the future payment.

reda

sr. member

Activity: 910

Merit: 260

Quote from: Essaint56 on December 16, 2017, 10:12:12 PM

We simply can't control the demand of the people. Back in 2008, how many were there who traded Bitcoin compared to today?

Bitcoin pricess high the 2018. It will increas the prices then people will be invest the bitcoin. But people releas the bitcoin then it will down the prices. Bitcoin pricess not stabel so you will kow the pricess information for the future growth. So you will check the bitcoin proces day by day then you will which time to invest and how to get profit. So you will some ideas from bitcoin.

Essaint56

newbie

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We simply can't control the demand of the people. Back in 2008, how many were there who traded Bitcoin compared to today?

kevoh

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Activity: 448

Merit: 110

Quote from: ShortCoins on December 15, 2017, 11:17:20 AM

Lets compare bitcoins price rise to a bottle of water. Since water is something EVERYONE needs

Water:

2008 - 50 cents
2017 - 1 dollar

2x increase

Bitcoin:

2008 - $0.003
2017 - $18,000 dollars

6,000,000x increase

Clearly water (and the demand for it) is more important than bitcoin. Yet water appreciated 2x in value while an imaginary, invisible, untangible thing called bitcoin has increased 6 million times. If water increased by the same amount it woud cost 3 million dollars for a bottle today.

Would you pay 3 million for 24 fluid ounces of water? No.

Then why would you buy bitcoin for the same inflated price?

This analogy is flawed. While there is a huge demand for water there is also an abundant supply of water that exceeds the demand. If water were very scarce or access to water was as difficult as a layman flying to the moon,trust me it will cost more than the current price of bitcoin.

RahulRana

newbie

Activity: 55

Merit: 0

yes, of course Bitcoin prices is very high to other currency.In this day, today 1 BITCOIN =19345.99 US DOLLAR, so is very high rated.Bitcoins prices is day by day increasing position.In the next year, Bitcoin is a very biggest currency in the world.

jhonjhon

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Activity: 1316

Merit: 126

Quote from: senin on December 16, 2017, 02:43:24 AM

We are all a little shocked by the recent sharp rise in the price of bitcoins to 18,000 dollars. We are also not sure how to respond to such an unrestrained rise in price. The fact is that the problem is not in the bitkoyne itself. Such a sharp increase in it can not but affect the economy of most countries, and this influence is destabilizing. Some states can take protective measures to stabilize the situation on the market and this will not do good to bitkoyu.

The incredible increase of price will also contribute to the increase of transactions fees and heavy traffic in the blockchain. But I've feel a little bit worried because of having a massive increase of in and out transaction, a possible of internet breakdown and increase the numbers of unconfirmed transactions.

linkHA

member

Activity: 266

Merit: 10

Quote from: ShortCoins on December 15, 2017, 09:34:05 AM

We've mined 17m of the 21m bitcoin already.

In that time bitcoin has gone up 6 million times its original value! That makes no sense at all. Even 1000x - 10000x increase would be rather absurd

Bitcoins price is WAYYYYY TOOO HIGH!!! Only 1% of the world has adopted the coin so far. It makes no sense that the first 1% to adopt (aka miners and HODLers) should get up to a 6 million times return on their money. While someone adopting today would get a one times return. That's simply not feasible. The remaining 99% of the population will not agree to deflate their own purchasing power by 6 million - they will just continue to use Fiat.

That's the biggest problem that will prevent bitcoin from scaling.

https://www.youtube.com/watch?v=F7luAHdv61k

Heres a great video from Crypto Daily discussing the problems of bitcoins price

Different people have different opinions. You think the price of bitcoin is too high now, and I think that's just the beginning. It will continue to rise!

Nerman

full member

Activity: 364

Merit: 107

Quote from: ShortCoins on December 15, 2017, 09:34:05 AM

We've mined 17m of the 21m bitcoin already.

In that time bitcoin has gone up 6 million times its original value! That makes no sense at all. Even 1000x - 10000x increase would be rather absurd

Bitcoins price is WAYYYYY TOOO HIGH!!! Only 1% of the world has adopted the coin so far. It makes no sense that the first 1% to adopt (aka miners and HODLers) should get up to a 6 million times return on their money. While someone adopting today would get a one times return. That's simply not feasible. The remaining 99% of the population will not agree to deflate their own purchasing power by 6 million - they will just continue to use Fiat.

That's the biggest problem that will prevent bitcoin from scaling.

https://www.youtube.com/watch?v=F7luAHdv61k

Heres a great video from Crypto Daily discussing the problems of bitcoins price

Well yes Bitcoin price right now is really high but it does not mean that it is expensive. Remember that anything in the world is actually price if there are people willing to buy it on the said price and as you can see people are still buying.

If you are saying that 99% will not agree to deflate their purchasing power basically Bitcoin has nothing to do with that. Even without Bitcoin FIAT depreciate yearly because of inflation and central banks printing out their currency.

Well you might be right that the price growth of Bitcoin is absurd and we have never seen this type of price inflation since the tulip mania and right now Bitcoin have surpassed that rise. We might see a Big correction in the future but with bitcoins history it usually recovers really fast.

Happiest

member

Activity: 207

Merit: 22

Yes, the price is too high.
But this is good for those who invested in it at the initial stage.
If you had buy bitcoin before, you would probably be among the jubilators whom are happy for the for the high profits.
So let's just say this high price is favoring some people why it is not doing so for some.
Nevertheless, its never too late to invest now.
You can probably, start by purchasing a small amount of it.
You never can tell what that price will be in years to come.

Schirer

member

Activity: 560

Merit: 17

I do not understand why the maximum BTC amount is relevant, it is scale-able!
Bitcoin is not useful nowadays for vendors thus i propose other view- BTC is marketing for crypto world but other cryptos are the ones which will change the world.

btc2mars

member

Activity: 108

Merit: 10

Quote from: ShortCoins on December 15, 2017, 11:17:20 AM

Lets compare bitcoins price rise to a bottle of water. Since water is something EVERYONE needs

Water:

2008 - 50 cents
2017 - 1 dollar

2x increase

Bitcoin:

2008 - $0.003
2017 - $18,000 dollars

6,000,000x increase

Clearly water (and the demand for it) is more important than bitcoin. Yet water appreciated 2x in value while an imaginary, invisible, untangible thing called bitcoin has increased 6 million times. If water increased by the same amount it woud cost 3 million dollars for a bottle today.

Would you pay 3 million for 24 fluid ounces of water? No.

Then why would you buy bitcoin for the same inflated price?

What?
How much would you pay for the air you're breathing in today?

Funny rationale and probably wrong.

Topic: ♨♨♨ Bitcoin's Price Is Too High ♨♨♨ (Read 529 times)