Has The Lower Price Really Been Great For Bitcoin?

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Quote from: Zorrocoin on July 05, 2015, 04:06:35 AM

Quote from: mamarried on June 15, 2015, 01:04:56 PM

The article says it’s for «The person who gets paid in BTC, and knows where every Bitcoin ATM in the city, even the state, is."

I wonder, if one leaves emotions behind, are these really good reasons to believe so?

It would be very very difficult to buy bitcoins if it was worth a lot more than the current prices. More people can afford a single Bitcoin with the current price. Additionally , it will not be stuck in the lower price forever. I think it is for the newbies so they can buy some bitcoins and hold on it for the future high rise in prices.

Yes its true to buy bitcoin if the price are in high, but there are many ways to earn bitcoin too besides from buying, you can earn it through campaign, selling items, doing some design, and many things, with this you can earn your bitcoin in no time and with this result you can start trading bitcoin or whatever coin you want to trade. So it is not that difficult to get some bitcoin

HarHarHar9965

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Quote from: Mehek on July 05, 2015, 04:33:21 AM

Quote from: mamarried on June 15, 2015, 01:04:56 PM

The article says it’s for «The person who gets paid in BTC, and knows where every Bitcoin ATM in the city, even the state, is."

I wonder, if one leaves emotions behind, are these really good reasons to believe so?

Many people have been fortunate enough to buy bitcoin which is very beneficial. But it has only been possible for people to buy and invest in it because they had the capability to afford it. The prices will not be stuck low forever of course they will ascend, but I think the low prices have been implied so that more and more people , and newbies come in and buy and save some bitcoins for the future.

Bitcoins aren't a vegetable, nothing can be implied and its price cannot be limited from some higher source, that's why it is an awesome currency. Its the demand and trade which affects the price. However, I would agree that it is a good time for newbies to enter the bitcoin world and make a good profit as well as better their lives with their involvement in bitcoin.

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Quote from: mamarried on June 15, 2015, 01:04:56 PM

The article says it’s for «The person who gets paid in BTC, and knows where every Bitcoin ATM in the city, even the state, is."

I wonder, if one leaves emotions behind, are these really good reasons to believe so?

Many people have been fortunate enough to buy bitcoin which is very beneficial. But it has only been possible for people to buy and invest in it because they had the capability to afford it. The prices will not be stuck low forever of course they will ascend, but I think the low prices have been implied so that more and more people , and newbies come in and buy and save some bitcoins for the future.

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Quote from: mamarried on June 15, 2015, 01:04:56 PM

The article says it’s for «The person who gets paid in BTC, and knows where every Bitcoin ATM in the city, even the state, is."

I wonder, if one leaves emotions behind, are these really good reasons to believe so?

It would be very very difficult to buy bitcoins if it was worth a lot more than the current prices. More people can afford a single Bitcoin with the current price. Additionally , it will not be stuck in the lower price forever. I think it is for the newbies so they can buy some bitcoins and hold on it for the future high rise in prices.

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Quote from: Lauda on June 15, 2015, 01:10:20 PM

You do realize that it would be hard for people to buy if Bitcoin was worth thousands? More people can afford a single Bitcoin with the current price.
I don't think that many would be fond of having to buy e.g. 0.1 or 0.01 BTC. I have no problems with the price being what it is right now, or with minor daily growth.

P.S. This is the wrong section; price discussion should be in Economics.

i guess lowering the bitcoin cost will help more people get into it and that has been a thing in my mind as to why its not getting more spotlight as it deserves.

bitnanigans

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Well, the lower price is definitely great for adoption. However, the only way for me to buy bitcoins is via wire transfer, which still takes a while, especially when I want to make quick transactions.

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Quote from: odolvlobo on June 18, 2015, 12:25:44 AM

Quote from: Gyfts on June 17, 2015, 09:42:05 PM

Well it's obvious for the receiver to want the price to be as low as it can so they increase the amount of Bitcoin they receive. For those that hold and pay in Bitcoin, they clearly disagree.

That's not quite true. They want the price to go down before buying and then to go up after buying. It is one thing to hope that it goes down, or to hope that it goes up, but hoping that it goes down and then it goes up ... that sounds more like wishful thinking.

Thats quite right. Many people (including me) are hope it to be like that but the reality the price is never be like us want, it will going higher and suddenly drop. It is always like that making people feel annoyed with this kind of situation. But when you lucky I guess you can make that wish come true Grin

Quote from: zeraTunerse on June 18, 2015, 03:12:05 PM

Yeah and that would be the best thing to do i guess. I mean if you hold a great volume of bitcoins then you don't need to diversify your investment into other products and If investor can wait for 10 years atleast then he would be earning a great level of profit.

What do you mean? You actually need diversify it because you can't let your bitcoin lose in one investments, you need to use other to cover it too so with this you can earn a lot without wait any investors

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Quote from: bryant.coleman on June 18, 2015, 12:31:09 PM

Quote from: hunnaryb on June 18, 2015, 11:58:12 AM

Exactly the lower price of bitcoin is good news for the actual investors who are looking to buy bitcoins at present but it is not great news for the people who are into it since last 3 or 4 years as they are going through losses right now and really want the value of bitcoin should rise up.

It hardly matters for long term and institutional investors. You are referring to such type of investors, who have amassed their coins over the last 3-4 years. I am sure that they will not mind waiting for another 5 or even 10 years. Most of them will wait until the Bitcoin exchange rate peaks, let's say at $1,000 or even at $10,000. Grin

Yeah and that would be the best thing to do i guess. I mean if you hold a great volume of bitcoins then you don't need to diversify your investment into other products and If investor can wait for 10 years atleast then he would be earning a great level of profit.

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Not sure that assessment is valid now that it's entrenched. That's the variable you're not considering, and it matters.

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Quote from: hunnaryb on June 18, 2015, 11:58:12 AM

Exactly the lower price of bitcoin is good news for the actual investors who are looking to buy bitcoins at present but it is not great news for the people who are into it since last 3 or 4 years as they are going through losses right now and really want the value of bitcoin should rise up.

It hardly matters for long term and institutional investors. You are referring to such type of investors, who have amassed their coins over the last 3-4 years. I am sure that they will not mind waiting for another 5 or even 10 years. Most of them will wait until the Bitcoin exchange rate peaks, let's say at $1,000 or even at $10,000. Grin

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Quote from: hunnaryb on June 18, 2015, 11:58:12 AM

Quote from: avatar_kiyoshi on June 18, 2015, 12:45:05 AM

There have 2 party which can feel the effect:
-if bitcoin in lower price it's good for some people who buy bitcoin( I called buyer).
-if bitcoin in lower price is bad for some people who earned , they need wait till buyer rise the price.

Exactly the lower price of bitcoin is good news for the actual investors who are looking to buy bitcoins at present...

That is a common fallacy. Consider this:

Price lower, then buy
then price goes lower: bad for buyers
then price goes higher: good for buyers

Price higher, then buy:
then price goes lower: bad for buyers
then price goes higher: good for buyers

As you can see, whether it is good for buyers has nothing to do with the price before the bitcoins are bought. It is completely dependent on what happens after the bitcoins are bought.

A common response is that the price is expected to rise in the long run, so waiting for a lower price is better. But, assuming that you expect the price to rise, waiting for a price drop means betting against your own expectation as well as believing that you can predict short-term price fluctuations.

hunnaryb

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Quote from: avatar_kiyoshi on June 18, 2015, 12:45:05 AM

Quote from: mamarried on June 15, 2015, 01:04:56 PM

The article says it’s for «The person who gets paid in BTC, and knows where every Bitcoin ATM in the city, even the state, is."

I wonder, if one leaves emotions behind, are these really good reasons to believe so?

There have 2 party which can feel the effect:
-if bitcoin in lower price it's good for some people who buy bitcoin( I called buyer).
-if bitcoin in lower price is bad for some people who earned , they need wait till buyer rise the price.

Exactly the lower price of bitcoin is good news for the actual investors who are looking to buy bitcoins at present but it is not great news for the people who are into it since last 3 or 4 years as they are going through losses right now and really want the value of bitcoin should rise up.

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Quote from: mamarried on June 15, 2015, 01:04:56 PM

The article says it’s for «The person who gets paid in BTC, and knows where every Bitcoin ATM in the city, even the state, is."

I wonder, if one leaves emotions behind, are these really good reasons to believe so?

There have 2 party which can feel the effect:
-if bitcoin in lower price it's good for some people who buy bitcoin( I called buyer).
-if bitcoin in lower price is bad for some people who earned , they need wait till buyer rise the price.

odolvlobo

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Quote from: Gyfts on June 17, 2015, 09:42:05 PM

Well it's obvious for the receiver to want the price to be as low as it can so they increase the amount of Bitcoin they receive. For those that hold and pay in Bitcoin, they clearly disagree.

That's not quite true. They want the price to go down before buying and then to go up after buying. It is one thing to hope that it goes down, or to hope that it goes up, but hoping that it goes down and then it goes up ... that sounds more like wishful thinking.

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Quote from: 98problems on June 15, 2015, 02:59:08 PM

Quote from: operrajunk74 on June 15, 2015, 02:52:32 PM

Quote from: torrentheaven on June 15, 2015, 02:00:59 PM

Quote from: randy8777 on June 15, 2015, 01:50:49 PM

price being stable is more important if you ask me. it's great if you buy 1 bitcoin for $230 to see it is nearly the same one week later.

It is not great for bitcoin or bitcoin community but it is really great for a newbie who has just entered into the bitcoin as the prices are down he can buy bunch of bitcoins and hold it for the future/

Yeah not for the people who are holding bitcoin and really looking for its prices to grow and earn a profit out of it but if you are looking for investing in bitcoin and I believe this is the right time to invest in bitcoin,

it depends on how much the newbie is ready to hold bitcoins, if he is ready to do that for a few decades he might end up in big profit, but if only he will hold for a few years he might end up even loosing

A wait of 20 years can make him a potential millionaire.

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Good for individuals buying now. Maybe not so great for the folks running the infrastructure. There've been a few casualties due to the stagnation but equally they should've accounted for that possibility when setting up.

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Well it's obvious for the receiver to want the price to be as low as it can so they increase the amount of Bitcoin they receive. For those that hold and pay in Bitcoin, they clearly disagree.

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Quote from: chennan on June 15, 2015, 11:47:17 PM

It is really not good for the ppl who bought at the peak of 2013. They fear the price continue to decline! The crashing price is impacting bicoin's image a lot! Bitcoin is known to be volatile, unstable etc. It is realy not a good investment from the wall street guys' point of view.

Exactly the prices has been going down at regular intervals and as a investor we haven't seen the stability in the value of Bitcoin and that worries all of us and it forces us to rethink that whether we are on right path or not or we have made mistake by investing into a bitcoin.

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Quote from: odolvlobo on June 16, 2015, 01:50:33 AM

Quote from: Lauda on June 16, 2015, 12:18:26 AM

Quote from: odolvlobo on June 15, 2015, 11:16:44 PM

Bitcoins are no more difficult to buy at $1000 or $10,000 than at $200. You don't have to buy 100 million satoshis at a time. You can easily buy 1 million satoshis or 100 thousand satoshis.

Yes, they are, at least for a good percentage of people. As previously stated in my own post, which you disregarded, people would rather buy 1 BTC than 0.01.
If you believe that a lot of people can afford spending $10,000 to buy Bitcoin, you would be surprised.

I don't have enough money to buy a Tesla, but that doesn't make it any more difficult to buy a car. The units are arbitrary. I would rather buy 1000 bitcoins than 0.01, but that doesn't make it any more difficult to buy bitcoins.

We should really popularize milli-bitcoins and micro-bitcoins. People will feel a lot better if you told them that they are buying 1000 milli-bitcoins, rather than 1 bitcoin. It is psychological, but it will help Bitcoin.

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Quote from: Lauda on June 16, 2015, 12:18:26 AM

Quote from: odolvlobo on June 15, 2015, 11:16:44 PM

Bitcoins are no more difficult to buy at $1000 or $10,000 than at $200. You don't have to buy 100 million satoshis at a time. You can easily buy 1 million satoshis or 100 thousand satoshis.

Yes, they are, at least for a good percentage of people. As previously stated in my own post, which you disregarded, people would rather buy 1 BTC than 0.01.
If you believe that a lot of people can afford spending $10,000 to buy Bitcoin, you would be surprised.

I don't have enough money to buy a Tesla, but that doesn't make it any more difficult to buy a car. The units are arbitrary. I would rather buy 1000 bitcoins than 0.01, but that doesn't make it any more difficult to buy bitcoins.

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Terminated.

Quote from: odolvlobo on June 15, 2015, 11:16:44 PM

Bitcoins are no more difficult to buy at $1000 or $10,000 than at $200. You don't have to buy 100 million satoshis at a time. You can easily buy 1 million satoshis or 100 thousand satoshis.

Yes, they are, at least for a good percentage of people. As previously stated in my own post, which you disregarded, people would rather buy 1 BTC than 0.01.
If you believe that a lot of people can afford spending $10,000 to buy Bitcoin, you would be surprised.

Update: You've missed my point, yet again.

Quote from: chennan on June 15, 2015, 11:47:17 PM

It is really not good for the ppl who bought at the peak of 2013. They fear the price continue to decline! The crashing price is impacting bicoin's image a lot! Bitcoin is known to be volatile, unstable etc. It is realy not a good investment from the wall street guys' point of view.

They made a mistake and have been blaming Bicoin ever since. This seems irrational.

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It is really not good for the ppl who bought at the peak of 2013. They fear the price continue to decline! The crashing price is impacting bicoin's image a lot! Bitcoin is known to be volatile, unstable etc. It is realy not a good investment from the wall street guys' point of view.

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Quote from: Lauda on June 15, 2015, 01:10:20 PM

You do realize that it would be hard for people to buy if Bitcoin was worth thousands? More people can afford a single Bitcoin with the current price.
I don't think that many would be fond of having to buy e.g. 0.1 or 0.01 BTC. I have no problems with the price being what it is right now, or with minor daily growth.

Bitcoins are no more difficult to buy at $1000 or $10,000 than at $200. You don't have to buy 100 million satoshis at a time. You can easily buy 1 million satoshis or 100 thousand satoshis.

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I don't know if it has been great for bitcoin as some people think that it will continue to sink from this price but it has helped people like me who earlier weren't able to afford to buy one and since it has dropped I have bought one (in parts) and spent it and am planning to buy more.

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its been great for lowering my cost basis

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Quote from: AtheistAKASaneBrain on June 15, 2015, 05:42:59 PM

For anyone that is here for the long term, this is the best period ever (post ATH). Back in the day it would have been impossible for me to own more than 1 BTC, right now it's very doable. Everyday that the price is still stuck on the low 200's is celebration day.

Yeah this is the best time for new entrants who wants to invest in bitcoin but it is not a great news for the users who invested way back as the prices are very low they are creating any profit out of it.

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For anyone that is here for the long term, this is the best period ever (post ATH). Back in the day it would have been impossible for me to own more than 1 BTC, right now it's very doable. Everyday that the price is still stuck on the low 200's is celebration day.

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Quote from: operrajunk74 on June 15, 2015, 02:52:32 PM

Quote from: torrentheaven on June 15, 2015, 02:00:59 PM

Quote from: randy8777 on June 15, 2015, 01:50:49 PM

price being stable is more important if you ask me. it's great if you buy 1 bitcoin for $230 to see it is nearly the same one week later.

It is not great for bitcoin or bitcoin community but it is really great for a newbie who has just entered into the bitcoin as the prices are down he can buy bunch of bitcoins and hold it for the future/

Yeah not for the people who are holding bitcoin and really looking for its prices to grow and earn a profit out of it but if you are looking for investing in bitcoin and I believe this is the right time to invest in bitcoin,

it depends on how much the newbie is ready to hold bitcoins, if he is ready to do that for a few decades he might end up in big profit, but if only he will hold for a few years he might end up even loosing

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Quote from: torrentheaven on June 15, 2015, 02:00:59 PM

Quote from: randy8777 on June 15, 2015, 01:50:49 PM

price being stable is more important if you ask me. it's great if you buy 1 bitcoin for $230 to see it is nearly the same one week later.

It is not great for bitcoin or bitcoin community but it is really great for a newbie who has just entered into the bitcoin as the prices are down he can buy bunch of bitcoins and hold it for the future/

Yeah not for the people who are holding bitcoin and really looking for its prices to grow and earn a profit out of it but if you are looking for investing in bitcoin and I believe this is the right time to invest in bitcoin,

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Quote from: randy8777 on June 15, 2015, 01:50:49 PM

price being stable is more important if you ask me. it's great if you buy 1 bitcoin for $230 to see it is nearly the same one week later.

It is not great for bitcoin or bitcoin community but it is really great for a newbie who has just entered into the bitcoin as the prices are down he can buy bunch of bitcoins and hold it for the future/

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price being stable is more important if you ask me. it's great if you buy 1 bitcoin for $230 to see it is nearly the same one week later.

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it's great only to permit to poor people to accumulate more, therefore helping a bit the distribution, other than that, bitcoin should not stuck at a low price forever, otherwise the interest may shift otherwise, because of boredom

right now they are pumping litecoin for this reason too, besides the fact that the halving is approaching, and thus it add an incentive to pump it

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I haven't minded that the price has been low whilst I've been accumulating a pretty decent stash of coins, I understand that the price staying within a certain range, not being volatile is good for mainstream adoption / merchants etc but I'm pretty sure we all want the price to rise a lot higher than it is now.
Why the hell would we invest in bitcoin if we didn't want to make good profits?
I got involved in bitcoin because I saw it as a great opportunity to maybe make a lot of money.
That hasn't happened yet but I hold out hope for the future.

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You do realize that it would be hard for people to buy if Bitcoin was worth thousands? More people can afford a single Bitcoin with the current price.
I don't think that many would be fond of having to buy e.g. 0.1 or 0.01 BTC. I have no problems with the price being what it is right now, or with minor daily growth.

P.S. This is the wrong section; price discussion should be in Economics.

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...

Well, the lower price of BTC from $700 - $1200 range has not been really great for me. Other than the fact I was able to lower my average cost basis when I bought more in the $190 - $240 range. I would have to run the numbers, but my average BTC cost now would be around $300 - $350.

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The article says it’s for «The person who gets paid in BTC, and knows where every Bitcoin ATM in the city, even the state, is."

I wonder, if one leaves emotions behind, are these really good reasons to believe so?

Topic: Has The Lower Price Really Been Great For Bitcoin? (Read 1690 times)