BTC price should be back 1000$, it'll stable and can be accepted popularity

First77

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Activity: 266

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Quote from: RudeeTam on February 21, 2018, 11:10:46 PM

I share your sentiment on this but if bitcoin goes back to $1000 then people will just lose interest and go all the way down to zero or many will buy into it and will raise the price again. It is almost impossible to stabilize it at $1000 or even at that range anymore.

$1000 will be the right price at the end of 2018.

J_CCreate

copper member

Activity: 224

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I agree with you. It`s not good as a payment tool with a price bigger than 1000$. Today we have low fees average is about 0.00005 btc (which is about 0.6$) , but one month ago when the mempool was full we got fee about 6-7$ for each transaction which is craziness. Imagine you would like to buy a cola for 2$ and pay 6$ as a fee.

jseverson

hero member

Activity: 1834

Merit: 759

Quote from: First77 on February 22, 2018, 02:00:00 AM

Bitcoin was $1 in 2009. Greedy People want Bitcoin to reach $100,000 so that they get rich in one year when worldwide people do $500/month to $2000/month jobs.

No one is denying that there is greed. There's a lot of it, even, and I assume most people who are getting into Bitcoins are in it for profit, rather than for the technology.

Still, Bitcoin dropping to $1,000 doesn't mean it'll be stable and popular, which is what OP claims. It was at $1,000 some time ago, and I would argue that it's just as volatile, and somewhat more popular at $11,000 today. If it would be magically stable at $1,000, then shouldn't it have stayed there? The fee argument doesn't hold water either, because you can literally move thousands of dollars paying only a couple of cents in fees at the moment. The price dropping to $1,000 does mean you will only pay a fraction of a cent, but it's an inconsequential advantage.

Pursuer

legendary

Activity: 1638

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Where is my ring of blades...

1 satoshi is worth $0.00011 which is not even 1 cent yet so yeah 1 satoshi should go to a higher price so that it can become stable as a currency and be used more also. and guess what, that is exactly what has been happening all this time. with more adoption the demand increases and that increases the price. but also it decreases the volatility of this price. you can not compare the volatility that bitcoin has today with what it used to have years ago.

First77

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Quote from: BitNinja2017 on February 22, 2018, 02:02:45 AM

It's not really greedy people. You need to understand that the price is actually what PEOPLE are willing to buy BTC for.

People buying Bitcoin for $10,000 and thinking of $40,000, what is this ?? Greedy or gambling hub or ponzi scam ??

Last month I got $20 only from online surveys.

Worldwide people do $500/month to $1000/month jobs. Working for 8 to 10 hours/day.

BitNinja2017

newbie

Activity: 67

Merit: 0

It's not really greedy people. You need to understand that the price is actually what PEOPLE are willing to buy BTC for.

The reason it hasnt reached 100k yet is because the use case is not as much but its like a self fulfilling prophecy. The more people who want higher prices, the more they buy at current prices, the more current prices go up based on simple demand and supply. And as a result the more applications and attention BTC gets, thereby bringing in new waves of people at every iteration of the positive feedback loop.

It's not about greed as much as how people think. Right now BTC is not even touching mass market investment. Once the 13% starts buying BTC like its no tomorrow. We will see the true price changes and even then they are not buying for greed as much as buying into the money of the future.

First77

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Activity: 266

Merit: 32

Quote from: RudeeTam on February 21, 2018, 11:10:46 PM

I share your sentiment on this but if bitcoin goes back to $1000 then people will just lose interest and go all the way down to zero or many will buy into it and will raise the price again. It is almost impossible to stabilize it at $1000 or even at that range anymore.

Bitcoin was $1 in 2009. Greedy People want Bitcoin to reach $100,000 so that they get rich in one year when worldwide people earn $500/month to $2000/month jobs.

zenrol28

copper member

Activity: 882

Merit: 110

Quote from: mk4 on February 21, 2018, 10:16:35 PM

Very high fee? You obviously haven't used bitcoin lately. The current transaction fees are really really low compared to months ago that even 10sat/byte transaction fees are going through in less than 30 minutes.

so btc's never used to buy or sell goods in normal life: BTC is just a few years old. Not even a decade old yet. Don't expect a very new and complex(in my opinion) technology to be widely adopted immediately. It's going to take time, for sure.

Quote from: First77 on February 21, 2018, 10:15:11 PM

That way, Silver at $17/ounce and found in large quantities in this world should be used to buy or sell goods in normal life such as: coke, KFC, foods etc. a real-life currency.

I say Bitcoin should $400 if it is not a ponzi scam.

I Googled "ponzi" for you: A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns for older investors by acquiring new investors. -Investopedia

Now tell me, how is bitcoin a ponzi scam?

Yeah you got it darn right. And there are now alot adopting segwit. Just like coinbase. I just checked it today and wooh. The fees went down so much unlike when they are not segwit compatible. And now since the fees are low and i think it'll be lower on the coming days, can't wait to see bitcoin being use in our daily expending.

First77

member

Activity: 266

Merit: 32

Quote from: alaah on February 21, 2018, 10:34:19 PM

It wont happen because btc was made to be scarce, everyday we have btcs getting lost, confiscated and wasted, and every day is getting harder to mine them, there's no way for it to return to $1000, for this price it wont be even profitable for miners.

That way, it looks like end of Bitcoin

RudeeTam

member

Activity: 299

Merit: 11

I share your sentiment on this but if bitcoin goes back to $1000 then people will just lose interest and go all the way down to zero or many will buy into it and will raise the price again. It is almost impossible to stabilize it at $1000 or even at that range anymore.

supermine

hero member

Activity: 826

Merit: 518

Quote from: RobertoMakeli on February 21, 2018, 10:09:30 PM

I think it's not normal when a currency can exchange to over 10.000$. In this price, very high fee, so btc's never used to buy or sell goods in normal life such as: coke, KFC, foods etc. People will see btc look like goods, gold, diamond but not a real-life currency. That's why I think its price should be back around 1000$. Pls share your though Undecided

Why bitcoin?

Bitcoin is not the only crypto currency available,there are other crypto currencies are also available so we can use them to buy cheap products like coke and KFC,we can use bitcoins to buy cars,jewels or the expensive things.But the crypto currencies are not used as currencies yet because it is still new to the people and they are making money from its speculative nature.So it takes some decades to settle down at some price then ht e bitcoin will be used in the day to day life.
But we need to start using bitcoin in our day to day life even if expensive because you can use how much of fraction of bitcoin you want there is no minimum level like fiat currencies and the transaction fee are much lower less than a dollar it is better than the hidden fee from credit and debit cards.

pinkflower

sr. member

Activity: 868

Merit: 259

Maybe what RobertoMakeli is trying to say is he wishes that BTC was still trading on a 90% discount so he could buy before the next run back to $20,000. Thats a x20 return. More than most altcoins lol.

Sorry Roberto, buy now or go cry.

virendarnagpal

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Activity: 672

Merit: 12

Quote from: RobertoMakeli on February 21, 2018, 10:09:30 PM

I think it's not normal when a currency can exchange to over 10.000$. In this price, very high fee, so btc's never used to buy or sell goods in normal life such as: coke, KFC, foods etc. People will see btc look like goods, gold, diamond but not a real-life currency. That's why I think its price should be back around 1000$. Pls share your though Undecided

After touching very high price levels if we think that bitcoin may touch $1000 again does not looks practical because the people who bought it for the very high prices may not be willing to sell their btc for @ $1000/-. As the supply of bitcoin is very low as against it's demand and so due to it's demand more than supply further price fall can not be expected. It is also true to it's high price is only due to it's scarcity and people who hold it do not want to sell it but the buyer who is in the market wants to add it to his wallet and are ready to pay higher prices to buy it. Due to this reason after sharp downfall in it's prices we have seen stable price for last many days and even upwards trend noticed.
If we want to use it as currency we have to pay only a part of it for payments towards buying KFC, coke, foods etc. There is not difference for the payer whether the cost of bitcoin is 1000 to 10k because he has to pay just a small part of btc not full and if it's price is 1000 then suppose pays .1btc but if it's price is 10k he will be paying .01btc only so if the value of btc is higher we are paying lesser btc and if the price is lower then we are paying some higher decimal in btc so no difference as compared to flat currency.

Rambukwelle

jr. member

Activity: 313

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Sorry can not agree with You . Price of BTC got nothing to do with it's transaction fees .It is all about technology. We need to come up with a solution with latest technology which will make btc transactions more cheaper and faster . May be Lighning network will be the solution for this .

alaah

newbie

Activity: 76

Merit: 0

It wont happen because btc was made to be scarce, everyday we have btcs getting lost, confiscated and wasted, and every day is getting harder to mine them, there's no way for it to return to $1000, for this price it wont be even profitable for miners.

jseverson

hero member

Activity: 1834

Merit: 759

So you want Bitcoin to be confined to $1000 per coin? You do realize this means that all coins that could possibly be in circulation would only be collectively worth $210 billion, right? A single entity could simply buy all of them out, at which point it has failed as a currency.

The fees are fine. Higher price only really means satoshis are worth more, and it doesn't have substantial effects when they're each only worth a fraction of a cent.

Bitcoin does need to take several more steps to be considered a currency by the mainstream, but confining its price to a certain value will hurt it rather than help it.

pooya87

legendary

Activity: 3472

Merit: 10611

i am sorry to disappoint you but that will never happen. we may see big drops but the $1000 that you are wishing for is not in its range. and your logic is horribly flawed, because high or low price has nothing to do with how much people spend bitcoin. if anything they spend it more when its price is higher, and stats from BitPay supports this actually!
and just because YOU don't use bitcoin, it doesn't mean nobody else does either.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Very high fee? You obviously haven't used bitcoin lately. The current transaction fees are really really low compared to months ago that even 10sat/byte transaction fees are going through in less than 30 minutes.

so btc's never used to buy or sell goods in normal life: BTC is just a few years old. Not even a decade old yet. Don't expect a very new and complex(in my opinion) technology to be widely adopted immediately. It's going to take time, for sure.

Quote from: First77 on February 21, 2018, 10:15:11 PM

That way, Silver at $17/ounce and found in large quantities in this world should be used to buy or sell goods in normal life such as: coke, KFC, foods etc. a real-life currency.

I say Bitcoin should $400 if it is not a ponzi scam.

I Googled "ponzi" for you: A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns for older investors by acquiring new investors. -Investopedia

Now tell me, how is bitcoin a ponzi scam?

First77

member

Activity: 266

Merit: 32

That way, Silver at $17/ounce and found in large quantities in this world should be used to buy or sell goods in normal life such as: coke, KFC, foods etc. a real-life currency.

I say Bitcoin should be $400, if it is not a ponzi scam.

RobertoMakeli

newbie

Activity: 61

Merit: 0

I think it's not normal when a currency can exchange to over 10.000$. In this price, very high fee, so btc's never used to buy or sell goods in normal life such as: coke, KFC, foods etc. People will see btc look like goods, gold, diamond but not a real-life currency. That's why I think its price should be back around 1000$. Pls share your though Undecided

Topic: BTC price should be back 1000$, it'll stable and can be accepted popularity (Read 210 times)