♨♨♨ Bitcoin's Price Is Too High ♨♨♨ - page 3.

ShortCoins

newbie

Activity: 14

Merit: 0

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

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because they will think the bitcoin price will be double or even triple in the future.

It is very possible bitcoin will indeed double or triple in price before crashing. That would provide a mere 2x-3x return

My entire point is that bitcoin has already gone up 6,000,000x.

Is it worth the risk of losing a 6,000,000x profit for a chance at 2x-3x more?

virtualdn

legendary

Activity: 1358

Merit: 1093

I'd say it is too low but everyone as they think

lusiaga

sr. member

Activity: 518

Merit: 250

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.

AngelSky

hero member

Activity: 1008

Merit: 537

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

But many speculators saying that if any economical product or service bumps big in the chart will fall at one stage when it goes to hill climb. We have to think now since the price moves bigger in the marketplace chart.
Value we are seeing is now is satoshi's expectation on 2020 but we achieved this value very soon that will be a positive information for us but still panic about this is burst.
After CBOE I expect we may find the bump to touch the 20k but still haven't done the chart. So go to investment on bitcoin.

ShortCoins

newbie

Activity: 14

Merit: 0

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?

kueyen

member

Activity: 140

Merit: 10

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

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.

Why not? If I bought Microsoft stocks back in 1986, why shouldn't I get more returns than someone buying it in 2017? If you invested early in something that turns out to be successful, you make more money than the people who come after you. It's called economics.

SyGambler

legendary

Activity: 2436

Merit: 1804

guess who's back

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

Golovins

newbie

Activity: 12

Merit: 0

That's why lot of people calling in an buble.

You know that the mining process is every time is more difficalt and power require more and more. To mine all the bitcoins (21m) it will take years and years, it can be even 10-15 years.

ShortCoins

newbie

Activity: 14

Merit: 0

What should bitcoin be worth? Maybe $100 would be more reasonable after 7 years of growth

There really has been little innovation overall. Lightning network isn't even rolled out and SegWit hasn't been integrated everywhere. Basically the market cap of Bitcoin has ballooned without any real growth to justify it. The price is just being hyped

ShortCoins

newbie

Activity: 14

Merit: 0

Bitcoins exploding price might be the biggest deterrent to its success. A gradual rise in price would be much more reasonable.

This exponential, nonstop increase is looking more and more like a bubble.

ShortCoins

newbie

Activity: 14

Merit: 0

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

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