Topic: Do you Consider the Price of Bitcoin to be More Important than its Purpose? - page 4. (Read 707 times)
October 27, 2022, 12:38:15 PM
Eventually, once mass adoption has been achieved then $ price isn’t as important. We have a long time until that happens though. For now, $ price per bitcoin is important to people. It’ll take a while until people can mentally accept things being priced in bitcoin rather than $.
October 27, 2022, 11:52:34 AM
Most traders find price to important, its what makes bitcoin valuable. Generally, we all want its price to go up.
But the traders who often just trade on leverage and futures market are I think the ones that don't really value BTC but its price so they can acquire more USD. Nothing bad in making money though.
But the traders who often just trade on leverage and futures market are I think the ones that don't really value BTC but its price so they can acquire more USD. Nothing bad in making money though.
October 27, 2022, 11:52:08 AM
Price is a very important parameter of bitcoin which can satisfy its purpose. So both goes hand in hand and shouldn't have less priority above another. An electronic peer to peer cash system is fine, but unless a price tag is attached, what you will transact and how you will determine value? Without a price tag, it's simply impossible to transfer value using bitcoin. So price is very important factor which can satisfy its purpose of become and store of value. Nothing else will!
October 27, 2022, 11:28:36 AM
Bitcoin price is a different thing as a whole and it volatility does not change the purpose for it creation no matter how, i have this assurance that bitcoin cannot be as low as equal to $1 again, when there's volatile in bitcoin price, it calls for a total concentrate on the shift about to take place in favour of it demand or supply which makes thearket price goes up or down, while bitcoin value has always remained despite these, it's still the same acceptable digital currency, asset, investment and profitable currency one can venture into with the highest number of people in search for it on the internet to benefit from it p2p network, that word decentralization is what the people want and as long as bitcoin remains the same standard it has always been, it will remain ever relevance regardless of it price volatility.
October 27, 2022, 11:23:39 AM
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?
Bitcoin has many more purpose than what it was created for, asides the peer-to-peer intentions for bitcoin, it has also found a purpose as investment worthy. Because we can invest in it, the price is more important than the first purpose it was created for, my reason is that it is the investment opportunity that made me buy some bitcoins in the first place, not for transactions. October 27, 2022, 11:22:39 AM
The fact that Bitcoin's price is one of the big reasons for its huge adoption since its inception, we can't hide the fact that for the majority, the price is more important than its purpose as a currency. On the good side, however, that popularity leads more people to know more about what bitcoin really is aside from being considered mostly as an investment. There are lots of blockchain summits, discussions, meetups, and related events that are organized to give the community general knowledge about anything related to crypto, specifically bitcoin.
We also have to consider that using bitcoin as a currency is still limited to most places in the world, unlike the usual currencies. But as time goes by, we can expect that more countries will become bitcoin-friendly at such a point that most physical stores are now directly accepting bitcoin as legal tender.
We also have to consider that using bitcoin as a currency is still limited to most places in the world, unlike the usual currencies. But as time goes by, we can expect that more countries will become bitcoin-friendly at such a point that most physical stores are now directly accepting bitcoin as legal tender.
October 27, 2022, 11:09:06 AM
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?
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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