♨♨♨ Bitcoin's Price Is Too High ♨♨♨ - page 2.

eaLiTy

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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.

Hope you are normal while complaining this,do you think an investor who purchased the shares of Microsoft or a major share when it was in the beginning phase at a really cheap price is not playing fair and any investor investing must get equal returns Cheesy

if so ,what is the parity in that,the early investors or miners does have an advantage than the late investors and there is nothing wrong in it. If you are not interested in bitcoin,then simply do not use it. Tongue

kimochidesh

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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?

Are you seriously comparing an investment tool to a consumable stuff!!!
Water or any consumable stuff can't be compared with BTC or stocks. In that way, Petrol or crude oil should also be at be $500 per litre.
one of the major reason behind vigorous price rice of BTC is its decentralization. No authority can regulate its price and trading. Moreover, it is only Investment tool which can trade all around the world without any hurdle.
So I think still its price is underrated as more n more people all around the world are interested to buy and invest in crypto-market every day.

h0lybyte

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Getting more than one times return by investing in bitcoin now isn't impossible. We can't say even you are surely going to earn profits as trading is always based on volatilization but according to speculators, bitcoin is still young and it can surge upto $50,000 further. So if bitcoin goes as per the speculations, you can conveniently earn more than one times by investing now

btcwish1

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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

What you have said makes lot sense. But again, the market really doesn't always follow sense and logic. How will you justify a iphone x price at more than $1000 where not every one in the world can afford it? Come on it is just a phone and and we all know how less it actually costs to manufacture an iphone..

bigdude

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Dolphins Finance TRUSTED FINANCE

Bitcoin too expensive for new comers so that chance for alcoint and other bitcoin fork growth very fast.
Such as Litecoin price rocket x5 just in 3 days from $60 to $300.
all of these make big FOMO

MrYan

newbie

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i know right, you need to at least have money or a good miner component to earn some btc

senin

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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.

abbhatia

newbie

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yes i agree with your openion that bitcoin rate is to heigh but it can go much heigher from this point because is growing but supply is droping

Kryten12

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TREEBLOCK

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

zolfa

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Quote from: lusiaga on December 15, 2017, 11:20:31 AM

yeah you can said it really high, because we know bitcoin price is born in in under 0 $.
but this is still very cheap price for new players because they will think the bitcoin price will be double or even triple in the future.
dont you think more people will interest and join? more plyers buy more high its price.

I think for a new player, today's bitcoin price is very expensive, why? because before he never found a currency of great value, and will make an impression to him that bitcoin is extraordinary.

ShortCoins

newbie

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Today’s Bitcoin situation “has aspects of a bubble in the sense that it’s a contagion,” Shiller says. “Bubbles are periods of contagious excitement about some investable asset that is enhanced by public observations of increases in price, and envy of people who made a lot money so easily.”

(Source: Popular Science, 2017).

https://www.popsci.com/too-late-buy-bitcoin

tonysitaly

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If you compare this year's market capacity with the market capacity in 2009, then perhaps the price is acceptable. That's why you see so many people entering encrypted money every day. What I think we need to do is how to further promote the application of bitcoin to specific projects.

ShortCoins

newbie

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Quote

Person B can buy pretty much the same amount with that dollar that they could before, not six million times less.

its like you didn't even read my point.

if Person B starts off with $1 out of the $2 total he has the same purchasing power as Person A, they both hold 50% of the cash

when Person B ends up with $1 out of $6,000,001 total he loses purchasing power, because he now holds a very small percentage of the cash

WHAT DONT YOU GET? Cheesy

Its not that hard to understand

Iranus

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Leading Crypto Sports Betting & Casino Platform

Quote from: ShortCoins on December 15, 2017, 02:12:33 PM

Therefore, Person B has significantly lost purchasing power.

No. Person B has gained less than Person A (they gained none), but did not lose purchasing power unless the value of a US dollar decreased, in which case the purchasing power that they lost was proportional to the US dollar's loss in purchasing power.

Quote from: ShortCoins on December 15, 2017, 02:12:33 PM

In this case of only two people in the world their purchasing power would drop by a factor of 6 million times.

Purchasing power's definition:

"the financial ability to buy products and services."

Person B can buy pretty much the same amount with that dollar that they could before, not six million times less.

ShortCoins

newbie

Activity: 14

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Quote

They are not losing purchasing power they are just late to enter the market

No they are definitely losing purchasing power.

Allow me to illustrate:

Theres two people in the world and $2. They each have $1

Person A invests $1 USD in monopoly money in 2010, Person B saves $1 USD in a piggy bank in 2010
Person A now has $6,000,000 USD worth of monopoly money in 2017, While Person B has $1 USD in a piggy bank
Person B wants to join Person A and get some monopoly money. So they buy $1 worth in 2017

Person B has 1 monopoly dollars and Person A has 6,000,0000 monopoly dollars out of the total of 6,000,001 dollars

Therefore, Person B has significantly lost purchasing power. In this case of only two people in the world their purchasing power would drop by a factor of 6 million times. The 6 million number is based on the ACTUAL price increase of bitcoin from 2010 to 2017. This example illustrates how phoney and absurd the price increase of bitcoin is

avilsd

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Never be the first investor, or the last. But we're in a good time right now, as most of the world still isn't too familiar with Bitcoin. They only heard about it. But as more stories keep coming out about it and as more want to purchase cryptocurrencies, there's going to further interest.

1NV3ST0NM3

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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

They are not losing purchasing power they are just late to enter the market. Not everyone can set up mining rig and begin mining cryptos. People are still buying it merely for returns and not for making it as a mainstream method of settlement. So its price is destined to go high its nothing like too high.

wenjun123

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as the saying goes, we will see, but, the crypto currency is gaining popularity, the coinbase falls on the influx of people who want to buy lightcore and ether, the time is the transition to crypto-currencies

ShortCoins

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The Monopoly Money costs too much real money Sad

kueyen

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Quote from: ShortCoins on December 15, 2017, 11:25:17 AM

Quote

Why not? If I bought Microsoft stocks back in 1986, why shouldn't I get more returns than someone buying it in 2017?

What? You are comparing oranges to apples.

Microsoft has revenues, Microsoft profits, Microsoft creates value, Microsoft has added many new technologies and expanded business. When you look at the history, you actually see the growth of a company. Those are the things that actually GENERATE the returns. When you look at bitcoin you see none of this. Its growth is derived not from profits, not from revenues, not from new technologies, not from much of anything. Its price is entirely based around hype

It fills a certain need. People feel the need to be free of the banks, to send money around relatively anonymously and quickly. The price would be nowhere near what it is if cryptocoins were useless.

This need was not present before, and now it is. To use the analogy you used in your previous post, the price of bottled water hasn't changed because it still fills the same need, and the demand for it has remained constant. Bitcoin's price is increasing because it is filling a need that people have, and the demand is on the rise at the moment.

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