Does the Price of Bitcoin Matter? - page 210.

mattiadeabtc

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Quote from: MinerHQ on August 14, 2015, 02:59:17 AM

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.

For any thing in this world, price will matter. No exception to bitcoins. It it goes to $1, will do spend so much time on bitcoins?

If it goes to $1 everyone will buy btc and the value will rise up. btw, the price always matter, how many mainstream was the bitcoin at 1000$ each, draw your own conclusions

MinerHQ

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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.

For any thing in this world, price will matter. No exception to bitcoins. It it goes to $1, will do spend so much time on bitcoins?

Yakamoto

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To me, the price of Bitcoin doesn't matter a whole lot, but it does contribute to some of my interest with it.

Regardless what happens, as long as the price is greater than $50, goods and services will scale around it, so you'll get paid the same for x amount of work, and you'll pay the same for x amount of work, in a fiat/USD sense.

Aside from that, however, as long as there is money to be made, there will always be new developments and information to find.

kampretkabur

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of course it matters, thats why im here LOL

alh

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It would seem to me that Bitcoin is going to have get way more "valuable" compared to the USD. Assume for the moment Bitcoin stabilized at $10. When the last of 21 million coins are "minted", you now have a total money supply of $210 million to work with. That's seems way to small to me to support any significant economy. Based on current number, the US has 1.36 Trillion dollars in currency in the form od Federal Reserve Notes. I assume that's actual bills in circulation.

So where does $210 Million fit in? It's smaller than a rounding error. Make it $100 or even $1000 and it still isn't significant. I expect it fares equally poorly to other major currencies (e.g. Euro).

Amph

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Quote from: cellard on May 29, 2015, 07:32:40 PM

Quote from: arallmuus on May 29, 2015, 06:58:58 AM

Quote from: bornil267645 on May 28, 2015, 07:22:26 AM

I don't care whether the price is at 1$ or 1000K, the only thing matter is that bitcoin having a stable market value like all the other currency so that people and companies can put their trust in them and starts accepting them. Only then the price of the bitcoin (whatever the price at that point) will matter.

Actually most companies do relly their judgement of BTC from the price as well. Even if the market stabilized, most companies wont be accepting BTC if the price is were only a few cents for each BTC. The fact that BTC rose to $1200 is the only reason why most companies is eyeing BTC right now. Most people wont even pay attention to it if the price were only 0.001$/ BTC or so

But why not tho?
If you had a company, and they offered you 1 million USD in BTC, you would say no because BTC were a few cents a dollar? money is money.
Of course, having a high price is attractive, and actually unavoidable as time goes on and satoshi predicted, what we saw as a bubble, and bigger bubbles will happen, establishing higher floors.

low price is dangerous, because you can have few companies with a large quantity of bitcoin, potentially lead to a centralized control of the supply, this mean that if the price then rise for whatever reason, a big dump will just crash it, creating a very unstable market, not healthy at all for bitcoin

thy

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The price of Bitcoin does matter for many people, for example those that invests in, trade, mine or get there salery in bitcoins, also for merchants accepting bitcoins as payment and keep part of there sold amount in bitcoins.
If btc will reach mass adoptation in the future, lets say 1% of a worlds population of 7 billion people will keep on avg 10 000 usd in btc simular to an investment in gold to become more independent of fiat currencys then as less than all bitcoins would have been mined by then the price per bitcoin will have to be over 10 000*7 000 000 000*0.01/21 000 000 = over 33 333 USD per bitcoin to handle the demand from people that want another option when many countrys fiat currencys will default in the future.

cellard

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Quote from: arallmuus on May 29, 2015, 06:58:58 AM

Quote from: bornil267645 on May 28, 2015, 07:22:26 AM

I don't care whether the price is at 1$ or 1000K, the only thing matter is that bitcoin having a stable market value like all the other currency so that people and companies can put their trust in them and starts accepting them. Only then the price of the bitcoin (whatever the price at that point) will matter.

Actually most companies do relly their judgement of BTC from the price as well. Even if the market stabilized, most companies wont be accepting BTC if the price is were only a few cents for each BTC. The fact that BTC rose to $1200 is the only reason why most companies is eyeing BTC right now. Most people wont even pay attention to it if the price were only 0.001$/ BTC or so

But why not tho?
If you had a company, and they offered you 1 million USD in BTC, you would say no because BTC were a few cents a dollar? money is money.
Of course, having a high price is attractive, and actually unavoidable as time goes on and satoshi predicted, what we saw as a bubble, and bigger bubbles will happen, establishing higher floors.

arallmuus

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Quote from: bornil267645 on May 28, 2015, 07:22:26 AM

I don't care whether the price is at 1$ or 1000K, the only thing matter is that bitcoin having a stable market value like all the other currency so that people and companies can put their trust in them and starts accepting them. Only then the price of the bitcoin (whatever the price at that point) will matter.

Actually most companies do relly their judgement of BTC from the price as well. Even if the market stabilized, most companies wont be accepting BTC if the price is were only a few cents for each BTC. The fact that BTC rose to $1200 is the only reason why most companies is eyeing BTC right now. Most people wont even pay attention to it if the price were only 0.001$/ BTC or so

SOAD

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Quote from: bornil267645 on May 28, 2015, 07:22:26 AM

I don't care whether the price is at 1$ or 1000K, the only thing matter is that bitcoin having a stable market value like all the other currency so that people and companies can put their trust in them and starts accepting them. Only then the price of the bitcoin (whatever the price at that point) will matter.

The ideal and best case scenario in my opinion would be to have a couple of years of volatility and for the price to rise considerably, then taper off and stabilize at a good value. That way we can all be rich and then not be afraid to spend our new found wealth and it's now awesome purchasing power hehe. Regardless of that dream, I would like it to actually stabilize sooner rather than later but I'm sure not sure if it ever will remain as steady as other fiat currencies.

bornil267645

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I don't care whether the price is at 1$ or 1000K, the only thing matter is that bitcoin having a stable market value like all the other currency so that people and companies can put their trust in them and starts accepting them. Only then the price of the bitcoin (whatever the price at that point) will matter.

volatilebtc

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Quote from: Coinbuddy on May 13, 2015, 09:30:12 AM

For true devotees of Bitcoin, the price of the digital currency is almost irrelevant. They believe in its inherent value or, more frequently, cannot see any value at all in the alternative of government issued fiat currency. Price is therefore not a concern. At the other end of the spectrum, for those that harbor what appears to be an irrational hatred of Bitcoin and anything to do with it, the exchange rate also matters little. They were screaming that it was all worthless when the price was at over $1000, and somehow convince themselves that an exchange rate of over 200 times what it was before that bubble proves their point. For the vast majority of people somewhere in the middle, however, the price of the currency in Dollar, Euro, Yuan or whatever terms is important.

Read more: http://www.nasdaq.com/article/does-the-price-of-bitcoin-matter-cm476312#ixzz3a1cH4qcU

No it doesnt matter , please send 500 btc to me . I wont mind .

cbase

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Quote from: Q7 on May 13, 2015, 09:37:38 AM

If I answer you no then I'll be lying. Even though my hope is for us to see 1 btc equivalent to 1 btc some day with the price of fiat mean nothing to us, the current movement of the price still gives us the indication in how well accepted btc is and its demand. I do agree with your reasoning but until the I will still closely follow the btc price movement.

I completely agree with you, but I would like to add that bitcoin is so so so much more valuable than the current prices. The tech that goes into crypto currency, i.e. Block chain mechanism, is the relevant thing at this point in time. The security and the decentralized nature really excites me and is probably the greatest asset which can only get more secure in the future, so the road only goes up

steelhouse

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marketcap matters. Take some of the non-inflationary cryptos and they suck it is hard to sell them for a constant price. You sell $1000 in them and you might drop price 50%.

Amph

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Quote from: BrianM on May 26, 2015, 05:55:00 PM

In my opinion:
The price of bitcoin only matter in time of exhange.
If you convert from fiat to bitcoin, or from bitcoin to fiat,
then is the price relavant.
In all other cases then is 1 BTC = 1 BTC.

still his intrinsic value(which is related to the price) does matter on a high degree, because it mean more buying power, so you can say 1 btc = btc, but that equation will have a better value in the future(or worse)

so it always matter even if you take out fiat price counterpart

BIT-Sharon

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I feel Bitcoin is just like gold which has its own value that the fiat currency doesn't have.

techgeek

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Price does matter for me.

But, I actually invested more for that blockchain technology that people unvalue so much.

1Referee

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Quote from: Slark on May 26, 2015, 06:41:17 PM

Quote from: 1Referee on May 13, 2015, 06:21:26 PM

Quote from: ?? on ??

Yes, it matters to some extent, but I will continue using Bitcoin no matter what the price is.

Most people (including myself) will use Bitcoin regardless of the price.

But would you hold your coins for let's say a few years if price was not important to you? I wouldn't. I would just buy coins when I need to pay someone or to buy stuff online.

Oh, really? I think you are talking like that because you know or are convinced that bitcoin price won't reach some ultimate bottom like below $50. For now price is still above $200 - not so tragic.
I doubt that people would be interested if price went to bottom like crazy, it would be mass dump and panic. I personally would sell all my coins and call it done.

Yes. Really. I believe in Bitcoin. I am realistic enough to know that it won't reach anything higher than $5000, if ever.

If I ever had the impression that Bitcoin would have a small chance of getting dumped to the ground, I wouldn't hold a single satoshi. Same applies for when price wouldn't be important to me.

People are different. Where people are ready to panic sell and take huge hits, there are other people making loads of money by getting in at the right moment.

Slark

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Quote from: 1Referee on May 13, 2015, 06:21:26 PM

Quote from: ?? on ??

Yes, it matters to some extent, but I will continue using Bitcoin no matter what the price is.

Most people (including myself) will use Bitcoin regardless of the price.

But would you hold your coins for let's say a few years if price was not important to you? I wouldn't. I would just buy coins when I need to pay someone or to buy stuff online.

Oh, really? I think you are talking like that because you know or are convinced that bitcoin price won't reach some ultimate bottom like below $50. For now price is still above $200 - not so tragic.
I doubt that people would be interested if price went to bottom like crazy, it would be mass dump and panic. I personally would sell all my coins and call it done.

BrianM

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In my opinion:
The price of bitcoin only matter in time of exhange.
If you convert from fiat to bitcoin, or from bitcoin to fiat,
then is the price relavant.
In all other cases then is 1 BTC = 1 BTC.

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