To a good majority, yes price does matter.
But technically at the same time, theres a small percen of people who see more value as something else then just a priced asset.
Right now, this seems to be the only way to hold real money, since its not being printed like fiat.
Topic: Does the Price of Bitcoin Matter? - page 211. (Read 304502 times)
It matters,to cover mining electricity cost bitcoin price hasto beabout 500$
all the rest is relative
now dollar is high to euro and to manycurrencys relatedto euro and to emerging currencys
whatever will be nice to see bitcoin with 600$ stable price,isnt it
all the rest is relative
now dollar is high to euro and to manycurrencys relatedto euro and to emerging currencys
whatever will be nice to see bitcoin with 600$ stable price,isnt it
The price fall has coincided with a literal doubling of the network's transaction volume. This means that Bitcoin is no longer a speculative investment, but is becoming an everyday payment method.
Not necessarily. It's still mostly a speculative investment but the number of transactions doubling doesn't necessarily it's being used as a currency or to buy things. Most people will be buying to hold or maybe just to earn then cash out.
It matters but everything has its pros and cons:
The price fall has coincided with a literal doubling of the network's transaction volume. This means that Bitcoin is no longer a speculative investment, but is becoming an everyday payment method.
Early on in Bitcoin's timeline, there was hardly anywhere to spend it, so users bought far more than they spent. But now that bitcoins can get you a hotel, flight, shoes, and an apartment in San Francisco to boot, they're being spent – that is, sold – at a much higher rate.
The price fall has coincided with a literal doubling of the network's transaction volume. This means that Bitcoin is no longer a speculative investment, but is becoming an everyday payment method.
Early on in Bitcoin's timeline, there was hardly anywhere to spend it, so users bought far more than they spent. But now that bitcoins can get you a hotel, flight, shoes, and an apartment in San Francisco to boot, they're being spent – that is, sold – at a much higher rate.
It sure does. From an investor's POV for obvious reasons, since if it goes too low a lot of people get scared and shaken. From a miner's POV too, lots of scared dudes out there, or simply dudes that can't afford mining at a loss for a long time. From a consumer's POV, because stability would be better than high volatility.
The price or value of bitcoin is a double edged sword to me. The fluctuations make it poor as a spendable currency but those same fluctuations are attractive to speculators and it makes bitcoin a possible investment. The fluctuations also however stop merchants holding onto or dealing directly with their bitcoins so they choose a payment processor instead.
Yes, the price of Bitcoin does matter. Too high, and not many will buy but many will sell. Too low, and people will lose interest. I'd say it's about balance. That's what I believe in short.
The long term price appreciation trend must be hold to make bitcoin success
Suppose that bitcoin's price does not double every 4 years, but dropped after 4 years, then it will not hold its promise as long term store of value due to its deflative nature. Without this character, it will lose lots of supporters and go even worse. Today 90% of the coins are hold by the long term investors
In theory, reward halving will reduce the new money supply by 50%, similar to FED suddenly cut its money supply by half every 4 years, thus the price of bitcoin should at least double after each reward halving
Reward halving will drive lots of existing mining equipment out of business. With diminishing mining income, many will give up mining and purchase the coin directly, this will reduce the difficulty and raise the price
Suppose that bitcoin's price does not double every 4 years, but dropped after 4 years, then it will not hold its promise as long term store of value due to its deflative nature. Without this character, it will lose lots of supporters and go even worse. Today 90% of the coins are hold by the long term investors
In theory, reward halving will reduce the new money supply by 50%, similar to FED suddenly cut its money supply by half every 4 years, thus the price of bitcoin should at least double after each reward halving
Reward halving will drive lots of existing mining equipment out of business. With diminishing mining income, many will give up mining and purchase the coin directly, this will reduce the difficulty and raise the price
It is the least important number for me.
What is the price? Really its a guess at value, and the price at an exchange reflects an aggregate of peoples perception of value. When we were rallying up to $1000 there was a great deal of speculation that we were about to go way up. But those guesses were wrong. Now we have fallen to a place that, for the moment, seems to support a valuation of $240. That is much more in line with the current use and scale of bitcoin. So if price is a guess, although our best one, why not look at something that is a fact instead?
Far more predictive numbers include:
1. number of venders that accept BTC
2. amount of capitol investment
3. number of markets exploiting BTC potential (online retail, remittance, etc.)
4. number of people and institutions using BTC
What is the price? Really its a guess at value, and the price at an exchange reflects an aggregate of peoples perception of value. When we were rallying up to $1000 there was a great deal of speculation that we were about to go way up. But those guesses were wrong. Now we have fallen to a place that, for the moment, seems to support a valuation of $240. That is much more in line with the current use and scale of bitcoin. So if price is a guess, although our best one, why not look at something that is a fact instead?
Far more predictive numbers include:
1. number of venders that accept BTC
2. amount of capitol investment
3. number of markets exploiting BTC potential (online retail, remittance, etc.)
4. number of people and institutions using BTC
I agree with your points but price is a very easy way to get at your more predictive numbers. I think it matters quite a bit for miners and for conveying that bitcoin is a serious technology.
I don't understand how you think the price matters to show it is a serious technology, would you please explain so I can understand? Yes I agree it matters to miners but anyone else who has not invested more than they can afford to lose it should not really matter as long as the tech is still going no matter the price I will be here for as long as the blockchain and community is here.
It is the least important number for me.
What is the price? Really its a guess at value, and the price at an exchange reflects an aggregate of peoples perception of value. When we were rallying up to $1000 there was a great deal of speculation that we were about to go way up. But those guesses were wrong. Now we have fallen to a place that, for the moment, seems to support a valuation of $240. That is much more in line with the current use and scale of bitcoin. So if price is a guess, although our best one, why not look at something that is a fact instead?
Far more predictive numbers include:
1. number of venders that accept BTC
2. amount of capitol investment
3. number of markets exploiting BTC potential (online retail, remittance, etc.)
4. number of people and institutions using BTC
What is the price? Really its a guess at value, and the price at an exchange reflects an aggregate of peoples perception of value. When we were rallying up to $1000 there was a great deal of speculation that we were about to go way up. But those guesses were wrong. Now we have fallen to a place that, for the moment, seems to support a valuation of $240. That is much more in line with the current use and scale of bitcoin. So if price is a guess, although our best one, why not look at something that is a fact instead?
Far more predictive numbers include:
1. number of venders that accept BTC
2. amount of capitol investment
3. number of markets exploiting BTC potential (online retail, remittance, etc.)
4. number of people and institutions using BTC
I agree with your points but price is a very easy way to get at your more predictive numbers. I think it matters quite a bit for miners and for conveying that bitcoin is a serious technology.
I would like it to be bigger in value only for things to become easier in real life, but it does not really matter because that is what work is for and I never planned on bitcoin making me rich it will if it will and if it doesn't then no harm done. Have to say it does not matter to me overall.
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.
bitcoin need miners, miners need electricity and electricity is paid in fiat..maybe it is surprise for you but btc price is important.. for all..
Yes it does matter, but that's not the only thing that matters. Sadly I think a 99% of people just get involved with bitcoin nowadays for the profit potential but as we've seen its not a guaranteed investment. Part of me wishes bitcoin would just find its 'true' value and stay there but another part of me is excited by the speculative value of bitcoin and where it can go to in the future but I'd rather it be successful as a technology than make a load of money off of it (though both would be nice 
) . I guess we can only wait to find out.
) . I guess we can only wait to find out. 
Well, if the final goal of bitcoin is full acceptance and implementation (aka you can use it like FIAT), then yes price definitely matters, but not in the way your thinking.
A "STABLE PRICE" is more important to that goal than whether BTC is $200, $500 or $1,000 a coin. What's the biggest force against mass implementation now is that it can be $120 one week, $94 next week, $1,000 a month later and now back to the mid $200s...
A "STABLE PRICE" is more important to that goal than whether BTC is $200, $500 or $1,000 a coin. What's the biggest force against mass implementation now is that it can be $120 one week, $94 next week, $1,000 a month later and now back to the mid $200s...
We have abolished the stable value for the hard volume. In a all bitcoin economy, the participants will have to take the expected money value into account. Just like now really. There will be no regulation of money value, but that is also like now, really, all we know about fiat is that it will never generally appreciate (except in a debt deflation, the likes we will not have in an all bitcoin economy anyway).
So just forget about a stable price and do your own projection. If you can't stomach it, just STFU and GTFO.
The price is always a good indicator how the demand of something is. Sames holds for Bitcoin. But for further development the price does not really matter.
Well, if the final goal of bitcoin is full acceptance and implementation (aka you can use it like FIAT), then yes price definitely matters, but not in the way your thinking.
A "STABLE PRICE" is more important to that goal than whether BTC is $200, $500 or $1,000 a coin. What's the biggest force against mass implementation now is that it can be $120 one week, $94 next week, $1,000 a month later and now back to the mid $200s...
A "STABLE PRICE" is more important to that goal than whether BTC is $200, $500 or $1,000 a coin. What's the biggest force against mass implementation now is that it can be $120 one week, $94 next week, $1,000 a month later and now back to the mid $200s...
Of course it matters. It's easy to say that it doesn't and that we should be concerning ourselves with the network or whatnot, but lets not forget that it is the miners that prop up and support the entire network and the only reason the vast a majority of them do so it to turn a profit. If the currency was to fall to a price that they were operating at a loss they would soon shut up shop.
It is the least important number for me.
What is the price? Really its a guess at value, and the price at an exchange reflects an aggregate of peoples perception of value. When we were rallying up to $1000 there was a great deal of speculation that we were about to go way up. But those guesses were wrong. Now we have fallen to a place that, for the moment, seems to support a valuation of $240. That is much more in line with the current use and scale of bitcoin. So if price is a guess, although our best one, why not look at something that is a fact instead?
Far more predictive numbers include:
1. number of venders that accept BTC
2. amount of capitol investment
3. number of markets exploiting BTC potential (online retail, remittance, etc.)
4. number of people and institutions using BTC
What is the price? Really its a guess at value, and the price at an exchange reflects an aggregate of peoples perception of value. When we were rallying up to $1000 there was a great deal of speculation that we were about to go way up. But those guesses were wrong. Now we have fallen to a place that, for the moment, seems to support a valuation of $240. That is much more in line with the current use and scale of bitcoin. So if price is a guess, although our best one, why not look at something that is a fact instead?
Far more predictive numbers include:
1. number of venders that accept BTC
2. amount of capitol investment
3. number of markets exploiting BTC potential (online retail, remittance, etc.)
4. number of people and institutions using BTC
Of course it matters!
I wonder how those who bought it at $600/BTC feel right now? (hint: probably they won't be in this forum).
I wonder how those who bought it at $600/BTC feel right now? (hint: probably they won't be in this forum).
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