The benefits bitcoin has presented so far, out weighs whatever price simulations is inherent. The unstable nature of its prices is what makes it interesting to its users. For me, the purpose of bitcoin is far important than the prices.
There's many reasons to adopt the use of bitcoin, of which trade across borders and scapes is top on the list. A careful study of its bearish and bullish price fluctuations can also aid one understand better. It can provide an avenue to earn passively among other reasons one might require for its use.
Topic: Do you Consider the Price of Bitcoin to be More Important than its Purpose? - page 3. (Read 707 times)
October 27, 2022, 10:26:14 PM
October 27, 2022, 10:18:19 PM
No, the price of bitcoin is not more important than it's purpose. If anything, bitcoin's increasing price over the years is very reflective of its ever increasing importance and use cases.
October 27, 2022, 10:06:46 PM
No, the purpose of Bitcoin is for certain far more important than its price. That's for sure. After all, the price of Bitcoin is just a reaction to how Bitcoin is particularly designed. Of course, Bitcoin's design is such that it serves its purpose.
However, I'd be a complete hypocrite if I don't admit that Bitcoin's price is attracting me more than its being a peer-to-peer currency. If Bitcoin had a stable price, I'm not sure if I would want to accumulate a lot of it. At the end of the day, that it is a peer-to-peer currency is yet to be really felt locally.
However, I'd be a complete hypocrite if I don't admit that Bitcoin's price is attracting me more than its being a peer-to-peer currency. If Bitcoin had a stable price, I'm not sure if I would want to accumulate a lot of it. At the end of the day, that it is a peer-to-peer currency is yet to be really felt locally.
October 27, 2022, 09:42:22 PM
Bitcoin has completed its purposes and the next channels was the pricing that is why they focusing on the price, we see it as digital gold since bitcoin can't feel or touched, but other hands Gold can be feel and touched or even seen at this point the pricing is the next that really matters to investors since its purpose has been accomplished I believe 20 to 30 percent of global population knows about bitcoin and 10 to 15 percent are likely to be using it for transactions as alternative means of payment.
October 27, 2022, 08:35:29 PM
Nope, the Bitcoin purpose is the most important thing how I choose Bitcoin over other currencies. I have never been comfortable if I leave my coins on centralized party where they're record all of my transaction, my personal information and freeze my money without any explanation. If I hold Bitcoin, I wouldn't face those problems and my Bitcoin is still Bitcoin, nothing will change. This is why I'm 100% trust with Bitcoin and most of my money are in Bitcoin.
October 27, 2022, 08:13:44 PM
...I want to know your thoughts - Do you consider the price of Bitcoin to be more important than its purpose?
Admittedly, price is the top concern of investors but if you notice that price always goes hand in hand with the development of bitcoin, the higher the price of bitcoin, its adoption also increases. Bitcoin has gone beyond its original purpose thanks to the price increase, many people use it as an investment, a safe haven or a means of payment...So the price movement is perfectly fine for bitcoin without losing the initial target that satoshi was expecting.
October 27, 2022, 07:41:58 PM
It is undeniable that most people certainly consider the price of bitcoin to be more important than the actual goal, because if the price of bitcoin falls every year, it is certain that every investor will withdraw slowly, indeed the purpose of creating a digital currency in bitcoin is to run smoothly. decentralized spread not centralized, so that no one party regulates both the price and the distribution, but as time goes by most people are always asking about prices.
October 27, 2022, 06:58:18 PM
The price of bitcoin is a major attraction among the common people. When they initially get into cryptocurrency they never know anything about the real purpose. Even I don't know the real technology and the innovative things that made me into cryptocurrency.
Only after getting into the forum I realised how important is the privacy and how banks are stealing our money and having control over our funds. As if now we've got around 5% of the world population using cryptocurrencies in some means. If the price isn't this high or it hasn't experienced such a massive growth surely the usage percentage will be around 3%
Only after getting into the forum I realised how important is the privacy and how banks are stealing our money and having control over our funds. As if now we've got around 5% of the world population using cryptocurrencies in some means. If the price isn't this high or it hasn't experienced such a massive growth surely the usage percentage will be around 3%
October 27, 2022, 06:51:28 PM
(....)
So far, I would like to think that bitcoin has been living up to the expectations of Satoshi Nakamoto despite the numerous challenges it has encountered. Nevertheless, the price volatility has been a huge concern to so many people all over the world. I want to know your thoughts - Do you consider the price of Bitcoin to be more important than its purpose?
For me, the price is important but the purpose is more important because that's how Bitcoin was created. Bitcoin was created initially also because of payment. And Bitcoin also solves the current problems of our traditional finance like banking. We can have a bank from our pocket, that's the best use of Bitcoin for me. So price also important, because if Bitcoin got no price or no worth, it's useless.So far, I would like to think that bitcoin has been living up to the expectations of Satoshi Nakamoto despite the numerous challenges it has encountered. Nevertheless, the price volatility has been a huge concern to so many people all over the world. I want to know your thoughts - Do you consider the price of Bitcoin to be more important than its purpose?
and we know that the only way we could acquire is whether we do buy it from other people or would be mainly mining it.Later years it did really end up where majority of people been
eyeing into its value potential even though utility has been mostly ignored but cant really deny that people would really be looking after on its profitability.
Doesnt matter though because we do have different perceptions towards bitcoin or crypto market as a whole but there's only two options or reasons imho.
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October 27, 2022, 06:41:30 PM
Do you consider the price of Bitcoin to be more important than its purpose?
I think they both work hand in hand, it is the purpose that bring about the value, without the purpose, there is no value, the price of bitcoin is as important as its purpose, so also is the purpose as important as its price.Think of it this way ... If bitcoin was not useful --Purpose
No body would value it --price
And if price was not high as to draw the attention of many, alot of persons on the other hand would never discover bitcoin , let alone knowing it purpose ..
So both price and purpose of bitcoin work together for the good of bitcoin.
price gives it popularity..
while purpose gives it utility.
October 27, 2022, 06:33:11 PM
(....)
So far, I would like to think that bitcoin has been living up to the expectations of Satoshi Nakamoto despite the numerous challenges it has encountered. Nevertheless, the price volatility has been a huge concern to so many people all over the world. I want to know your thoughts - Do you consider the price of Bitcoin to be more important than its purpose?
For me, the price is important but the purpose is more important because that's how Bitcoin was created. Bitcoin was created initially also because of payment. And Bitcoin also solves the current problems of our traditional finance like banking. We can have a bank from our pocket, that's the best use of Bitcoin for me. So price also important, because if Bitcoin got no price or no worth, it's useless. So far, I would like to think that bitcoin has been living up to the expectations of Satoshi Nakamoto despite the numerous challenges it has encountered. Nevertheless, the price volatility has been a huge concern to so many people all over the world. I want to know your thoughts - Do you consider the price of Bitcoin to be more important than its purpose?
October 27, 2022, 04:34:24 PM
Only few people are considered the purpose of bitcoin.They know the real value of bitcoin.Because they had invested their real money.So just check the price to know their profit or loss from their little investment.You should think about the one thing.The bitcoin value of 1 bitcoin is same as 1 bitcoin.Only the price was increased and decrease.The proportional value of bitcoin you had brought will be same and available in the market with certain period.
October 27, 2022, 03:42:16 PM
Let's just admit it, the use of bitcoin will never be gone and we can use it at any time that we may be required. But the fact that it has a volatility in nature makes us look at the perspective of price is more important than its purpose. Although its purpose is to be spent and used as a payment, let's just accept the fact that there's another purpose of it these days and that is being an speculative asset for which the value of it is predicted and speculated by its own market, us.
October 27, 2022, 03:15:10 PM
Depends.
Depends on how you use bitcoin.
If you are an investor, price is all that matters. Obviously crypto adoption is a very important thing which drives the prices up or down but so is the FED's decisions. In the end it is the price the investor is ultimately interested in, nothing else.
If you use bitcoin as a medium of exchange as a consumer or a business owner, then you have the option to convert your crypto to FIAT instantly. Big credit card companies have these products if I remember it right. Bitpay does that for the merchants too. You don't even get any crypto, you just see the $$$ in your bank account and bitpay or the similar 3rd parties do the work for you. If that's the case then you have no business with the crypto prices.
Depends on how you use bitcoin.
If you are an investor, price is all that matters. Obviously crypto adoption is a very important thing which drives the prices up or down but so is the FED's decisions. In the end it is the price the investor is ultimately interested in, nothing else.
If you use bitcoin as a medium of exchange as a consumer or a business owner, then you have the option to convert your crypto to FIAT instantly. Big credit card companies have these products if I remember it right. Bitpay does that for the merchants too. You don't even get any crypto, you just see the $$$ in your bank account and bitpay or the similar 3rd parties do the work for you. If that's the case then you have no business with the crypto prices.
October 27, 2022, 03:10:12 PM
So far, I would like to think that bitcoin has been living up to the expectations of Satoshi Nakamoto despite the numerous challenges it has encountered. Nevertheless, the price volatility has been a huge concern to so many people all over the world. I want to know your thoughts - Do you consider the price of Bitcoin to be more important than its purpose?
Both idea are important, but I'm not a bitcoin adopter who can completely stay away from fiat. The idea of satoshi is certainly very good about payment systems, but due to regulation and opportunities for profit, this mindset is formed among its users.The price of bitcoin is important because then bitcoin becomes a valuable means of payment. Without a price, bitcoin would not be used as a means of payment [despite not having it at the time of issue] and both are equally useful for bitcoin. In my opinion, the price of bitcoin is more important than adoption as a means of payment, but of course because it doesn't interfere with other innovation.
October 27, 2022, 02:53:05 PM
I think that Satoshi did not expect bitcoin to become so valuable and beat the USD by so much. People were celebrating when it reached 1USD for the first time, then 10, then 100 then 1000...
One day it's going to reach 100k and you can't expect people to choose it to transact with over USD that loses more than 5% of its value each year.
The price is important because if it kept falling by 10% each year, you wouldn't find people willing to buy it. They'd simply choose fiat that loses value slower and is easier and cheaper to use. Being your own bank is nice but not if it costs you a lot of money. Bitcoin is so popular because it's not only a payment system but also an investment.
One day it's going to reach 100k and you can't expect people to choose it to transact with over USD that loses more than 5% of its value each year.
The price is important because if it kept falling by 10% each year, you wouldn't find people willing to buy it. They'd simply choose fiat that loses value slower and is easier and cheaper to use. Being your own bank is nice but not if it costs you a lot of money. Bitcoin is so popular because it's not only a payment system but also an investment.
October 27, 2022, 01:42:06 PM
In his paper, Bitcoin: A Peer-to-Peer Electronic Cash System, Satoshi Nakamoto states that the purpose of Bitcoin is a purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a financial institution.
Unfortunately bitcoin is not used as intended. It is used as digital gold instead of digital cash. 
October 27, 2022, 01:31:13 PM
There are two types of price movements: bull markets and bear markets. In the bull market, the majority of bitcoin investors are buying, demand outweighs supply, market confidence is at a high, and prices are rising. On the other hand, they are the opposite of the bull market. Bear markets are defined as a period of time where supply is greater than demand, confidence is low, and prices are falling.
In his paper, Bitcoin: A Peer-to-Peer Electronic Cash System, Satoshi Nakamoto states that the purpose of Bitcoin is a purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a financial institution.
So far, I would like to think that bitcoin has been living up to the expectations of Satoshi Nakamoto despite the numerous challenges it has encountered. Nevertheless, the price volatility has been a huge concern to so many people all over the world. I want to know your thoughts - Do you consider the price of Bitcoin to be more important than its purpose?
It depends on who you ask, if you ask this question to speculators they will probably say to you that is the only thing that matters to them as they do not really care about the reasons bitcoin was created and I doubt they have ever read the whitepaper. The rest will say its purpose and the almost flawless execution of Satoshi was more important, but it is undeniable that the price and the volatility of bitcoin still play a huge role on why bitcoin has been adopted so quickly all over the world. In his paper, Bitcoin: A Peer-to-Peer Electronic Cash System, Satoshi Nakamoto states that the purpose of Bitcoin is a purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a financial institution.
So far, I would like to think that bitcoin has been living up to the expectations of Satoshi Nakamoto despite the numerous challenges it has encountered. Nevertheless, the price volatility has been a huge concern to so many people all over the world. I want to know your thoughts - Do you consider the price of Bitcoin to be more important than its purpose?
October 27, 2022, 01:30:31 PM
I believe that right now, most bitcoin investors/Hodlers sees Bitcoin as more of an investment than it originally was intended, and this makes investors see more of the dollar value than the purpose for which it was created. However, I don't think it totally take away the importance of it original purpose.
Both the price and its purpose is very important. The price attracts more investors which leads to more publicity and adoption. It is also important to state that the drop or rise in price of Bitcoin is an avenue for investors to make profit, hence the price of Bitcoin is very important. But we must not loose sight of the main purpose of Bitcoin, which is to eradiocate middlemen in financial transactions. This is the main purpose of Bitcoin and it is through this means that Bitcoin would affect the common man on the street. Low and fast transaction charges because of the the bypassing of financial institution is the main benefit of people that cannot afford to invest or hodl Bitcoin.
October 27, 2022, 01:18:37 PM
There are two types of price movements: bull markets and bear markets. In the bull market, the majority of bitcoin investors are buying, demand outweighs supply, market confidence is at a high, and prices are rising. On the other hand, they are the opposite of the bull market. Bear markets are defined as a period of time where supply is greater than demand, confidence is low, and prices are falling.
In his paper, Bitcoin: A Peer-to-Peer Electronic Cash System, Satoshi Nakamoto states that the purpose of Bitcoin is a purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a financial institution.
So far, I would like to think that bitcoin has been living up to the expectations of Satoshi Nakamoto despite the numerous challenges it has encountered. Nevertheless, the price volatility has been a huge concern to so many people all over the world. I want to know your thoughts - Do you consider the price of Bitcoin to be more important than its purpose?
with the price of bitcoin, people will be better informed of its purpose. It has been pretty evident in the few years that bitcoin had broken the mainstream internet. When people's trust rating of bitcoin is low, its price decreases and therefore along with it, its purpose is lost once again in obscurity, but when it does rise up in price, more and more people are becoming eager to know about bitcoin and its utilization. Although in the case of what's important, of course i would side with its purpose since that is what drove bitcoin to be created in the first place. But no one can deny how these two schools of thoughts complement and cooperate with each other. In his paper, Bitcoin: A Peer-to-Peer Electronic Cash System, Satoshi Nakamoto states that the purpose of Bitcoin is a purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a financial institution.
So far, I would like to think that bitcoin has been living up to the expectations of Satoshi Nakamoto despite the numerous challenges it has encountered. Nevertheless, the price volatility has been a huge concern to so many people all over the world. I want to know your thoughts - Do you consider the price of Bitcoin to be more important than its purpose?
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