Does the Price of Bitcoin Matter? - page 209.

Erdogan

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Quote from: Insertion on August 14, 2015, 08:59:02 PM

The price honestly doesn't matter unless I'm storing BTCs for a long amount of time. Normally what I just do is buy a fair amount via cash deposits on localbitcoins, and then quickly sell the coins I just bought via paypal. People are willing to buy at higher prices via paypal because of the seller's risk. And yeah, it's risky but I've got some tricks up my sleeve in the case that some scammer tries ripping me off. I can easily make some decent money in these transactions so for me bitcoin prices really does not matter.

Interesting line of business. Are your customers in other countries?

randy8777

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to me it does matter as we invest money to get a financial gain, and not to lose money. the coins i get from sig campaign are different, in this case i don't care about the price as i am holding them for quite a while.

illyiller

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Quote from: faridkifly on August 15, 2015, 04:49:41 AM

i think yes.
because if the rate is going down, a lot of people loss their income from trading btc or from anything

Investors who aren't in it for the long term, maybe. Traders make money in both directions. Well -- they try. Most fail. Tongue

To the article in the OP.... certainly the price does matter. In my view, the value in bitcoin is that it is a) decentralized, b) limited supply -- so it could potentially be a store of value like gold -- and further, c) divisible, d) transferable electronically. So it could not only act as a store of value, but one that could instantly be used to transfer that value anywhere in the world.

Of course price matters for that. Much more useful at $1MM than $10k, $10k than $100, $100 than $1 and so on... Wink

faridkifly

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i think yes.
because if the rate is going down, a lot of people loss their income from trading btc or from anything

Andy4.4

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I love bitcoins.
But due to my personal costs and some mining, I periodically sell my Bitcoins for cash for paying my bills and the rent of my room.
So for me Bitcoin and it's price both matters.

Insertion

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The price honestly doesn't matter unless I'm storing BTCs for a long amount of time. Normally what I just do is buy a fair amount via cash deposits on localbitcoins, and then quickly sell the coins I just bought via paypal. People are willing to buy at higher prices via paypal because of the seller's risk. And yeah, it's risky but I've got some tricks up my sleeve in the case that some scammer tries ripping me off. I can easily make some decent money in these transactions so for me bitcoin prices really does not matter.

kostya.ash

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Quote from: ?? on ??

In my opinion the price itself does not matter, but its estability do. I think a lot of companies are not accepting bitcoin because of its volatility, once it reaches calm, adoption will increase.

the fluctuation is also included,
thats rights, which they need is price stability

Mickeyb

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Move On !!!!!!

I think that for user adoption it actually matters a lot. The most new users we have gotten in the December of 2013 when we had highest prices. I am also one of these new users. It sounds ridiculous but this is a human nature, people are buying and buying like crazy when the price is going up, not down.

Now I am not saying that we are doomed until yet another rally, but the adoption will be slower.

Erdogan

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Quote from: Slark on August 14, 2015, 11:37:49 AM

If you think price is not one of the most significant qualities of a coin you are either being naive or stupid. Look at other altcoin - some of them have even better features, Litecoin with robust blockchain, better confirmation times etc. But its price is pathetic and that is the problem Litecoin is still disregarded as insignificant coin in the long run because of low price compared to BTC.

Three things: Liquidity, liquidity and liquidity.

Slark

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If you think price is not one of the most significant qualities of a coin you are either being naive or stupid. Look at other altcoin - some of them have even better features, Litecoin with robust blockchain, better confirmation times etc. But its price is pathetic and that is the problem Litecoin is still disregarded as insignificant coin in the long run because of low price compared to BTC.

MF Doom

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I think the price matters to some extent, I mean if the price goes down to single digits, I think that would be pretty bad.

However, I think a more interesting and important number to point out would be the total amount of money invested in the bitcoin infrastructure. This number will really show you how confident people, investors and companies, are in the future potential of btc. That is a much more useful (and bullish) number to me.

Erdogan

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And don't forget that it must have some value to be useful in exchange at all. But it is the demand to hold that drives the price, whether it is savers or just persons and businesses keeping a suitably small cash balance.

In my view the store of value is the crucial function of money, but it is supported by the fact that it is traded and can easily be traded (else there would be no point of holding). The unit of account function is least important, if important at all.

Erdogan

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Quote from: BillyBobZorton on August 14, 2015, 09:19:21 AM

Quote from: Erdogan on August 14, 2015, 08:27:10 AM

I does not matter to people who want to use it to lubricate the trade, as a medium of exchange.

It does matter for people who save.

And im pretty sure it also matters to miners. If Bitcoin went back to $10 (i know, not gonna happen, just as an example) how would miners deal? should we admit that naturally lots of miners would leave, therefore the miners that keep mining would get a bigger % of the pie due decreased difficulty?

Yes, they too. If price goes down, they will have to scale back eventually, but first deinvest by running down their equipment if they can.

alva5763

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The value matters if you are either buying or selling goods using bitcoin. You either gain extra or have to give extra goods if price fluctuates. Retailers need a stable currency for trading.

Derrike

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For me, yes it matters.
I usually pay my Mobile phone bills with bitcoins.
I earn bitcoins with signature campaign and some online skill based games then pay my bills and is going smoothly from a long time.

Amph

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Quote from: BillyBobZorton on August 14, 2015, 09:19:21 AM

Quote from: Erdogan on August 14, 2015, 08:27:10 AM

I does not matter to people who want to use it to lubricate the trade, as a medium of exchange.

It does matter for people who save.

And im pretty sure it also matters to miners. If Bitcoin went back to $10 (i know, not gonna happen, just as an example) how would miners deal? should we admit that naturally lots of miners would leave, therefore the miners that keep mining would get a bigger % of the pie due decreased difficulty?

decrease difficulty will lead to an insecure network, from this point of view the price matter more than anything, also the price, generally speaking matter because otherwise there would not be enough bitcoin for everyone, if big investors start to use it on a large scale

HeroCat

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Of course, BTC price matters Wink

But as always BTC price is going up and down all the time, in longer periods we can see the exact BTC price level Grin

BillyBobZorton

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Quote from: Erdogan on August 14, 2015, 08:27:10 AM

I does not matter to people who want to use it to lubricate the trade, as a medium of exchange.

It does matter for people who save.

And im pretty sure it also matters to miners. If Bitcoin went back to $10 (i know, not gonna happen, just as an example) how would miners deal? should we admit that naturally lots of miners would leave, therefore the miners that keep mining would get a bigger % of the pie due decreased difficulty?

Erdogan

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I does not matter to people who want to use it to lubricate the trade, as a medium of exchange.

It does matter for people who save.

OBAViJEST

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This is a horribly loaded question, and honestly a waste of time to argue...

Why wouldn't it matter?

Topic: Does the Price of Bitcoin Matter? - page 209. (Read 304502 times)