How did Bitcoin start to price increase? - page 19.

sunsilk

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Quote from: jacafbiz on January 28, 2017, 07:28:07 AM

I think the miners dictate the price of Bitcoin, once their input go up (difficulties level, electricity cost, equipment price), you can't expect them to sell at loss, so they increase the price they will sell there tokens.

Not just them but all of us are the ones who are responsible for the price increase. When many bitcoin users are buying then that's making the demand higher.

And when the demand is becoming higher, chances of price increase is happening. Also with the initiative of whales.

They are also making something to make the price increase.

jacafbiz

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I think the miners dictate the price of Bitcoin, once their input go up (difficulties level, electricity cost, equipment price), you can't expect them to sell at loss, so they increase the price they will sell there tokens.

delliaerd

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Quote from: hase0278 on January 28, 2017, 04:48:37 AM

Bitcoin's price is always on the move because of its users in my opinion. Transactions happen everyday not to mention to many of them that makes the market go unstable. Unlike fiat that the value is determined because it was decentralized, the value bitcoin has is determined by the buying and selling that everyone who uses it do. Thus transactions are important in determining it's price since it is the one who made bitcoin's price start to rise.

I couldn't agree more with this one, bitcoin price depends with determining, how much the users of bitcoin buy and sell bitcoin. It is important activities for existence bitcoin also the price depending based with it. Bitcoin like other common currency, if More and more people buy a currency then the currency will increase price. So for nowadays the price of bitcoin increase slowly but constant because the popularity of bitcoin made more peoples get starting interest to use bitcoin.

hase0278

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Bitcoin's price is always on the move because of its users in my opinion. Transactions happen everyday not to mention to many of them that makes the market go unstable. Unlike fiat that the value is determined because it was decentralized, the value bitcoin has is determined by the buying and selling that everyone who uses it do. Thus transactions are important in determining it's price since it is the one who made bitcoin's price start to rise.

Xester

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Quote from: Sundark on January 27, 2017, 08:57:31 PM

Quote from: meemiinii on January 27, 2017, 08:29:11 PM

the price of bitcoin is also affected by the supply and the demand of bitcoin. in simple understanding, the higher the number of persons want to acquire bitcoin (demand) yet the lower is the number of available bitcoins (supply) will result to the PRICE INCREASE. further factor is the big whales too who manipulates the price while holding much bitcoins on hand.

It was said many times before.

The real reason bitcoin is worth something is the will of people who are ready to pay fiat money - current legal tender, for BTC, which isn't supported by any higher power, nation or institution.
Bitcoin is like these old Baseball cards, they weren't worth a damn in the past, but someone believed they might be worth something.

Its the will of the people who believed in bitcoin and purchased bitcoin and thats why its value is constantly on the rise. Speaking on the matters of the market the more people trusted bitcoin the more demands it makes. The more demands and with the limited supply of bitcoin the price has climbed up to 900 + $. This will not stop to increase as more people hold on to bitcoins and many business and merchants are beginning to accept bitcoins as a mode of payment.

xuan87

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The price of bitcoin is not same with fiat, which is being controlled by the government, bitcoin price is based on supply adn demand that is why the price is hard to be stable, the reason why it keeps on increasing over time is because there are more user and more investor buying bitcoin to become an investment

Sundark

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Quote from: meemiinii on January 27, 2017, 08:29:11 PM

the price of bitcoin is also affected by the supply and the demand of bitcoin. in simple understanding, the higher the number of persons want to acquire bitcoin (demand) yet the lower is the number of available bitcoins (supply) will result to the PRICE INCREASE. further factor is the big whales too who manipulates the price while holding much bitcoins on hand.

It was said many times before.

The real reason bitcoin is worth something is the will of people who are ready to pay fiat money - current legal tender, for BTC, which isn't supported by any higher power, nation or institution.
Bitcoin is like these old Baseball cards, they weren't worth a damn in the past, but someone believed they might be worth something.

meemiinii

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the price of bitcoin is also affected by the supply and the demand of bitcoin. in simple understanding, the higher the number of persons want to acquire bitcoin (demand) yet the lower is the number of available bitcoins (supply) will result to the PRICE INCREASE. further factor is the big whales too who manipulates the price while holding much bitcoins on hand.

bitkilo

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One factor is that there is only half the amount of coins hitting the markets for sale each month from miners and pools now since the bitcoin halving event last year so when more people want something that there is less of the price will go up, simple supply and demand.

Also when the price goes up it makes news and when it makes news more people want in but normally by that time it is too late and these people get caught up in the following dump, then the price goes down a little and the roller-coaster starts all over again.

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Quote from: RussiaIsBest on January 27, 2017, 05:34:03 PM

Bitcoin price is increasing all over the time because there are more and more customers of bitcoin crypotcurrency so that is the most important reason so more and more popularity bigger price it is.

bitcoin prices will not always go up, but it will rise and fall according to demand bitcoin on the market. when demand is high in the market bitcoin. then we can be sure that prices will rise, and vice versa

socks435

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And the other help are the people who are using bitcoin and invite people to use bitcoin because of more sites are accepting bitcoin as payment unlike before so every day i think we are growing but 2/10 are actually staying long in bitcoin because of scam and any online activities that can destruct the image of bitcoin..

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Quote from: South Park on January 27, 2017, 05:22:40 PM

Quote from: traderMax on January 24, 2017, 02:52:23 PM

Bitcoin's value is constantly increasing. Why is the price of bitcoin increasing over time?

Bitcoin has the value people decide to give to it, at first it had no value except as an experiment and proof of concept, but then people began to realize this technology was innovative and it got some value and as time has passed more people have agreed with that statement and that is why bitcoin keeps growing in price, because people believe on it.

I also think that the value will depend on people, but unfortunately some people spend a long time being indifferent to this sort of thing, and then certain circumstances cause them to take an initiative to go towards Bitcoin. As for example, usually many people only look for Bitcoin when their countries are in crisis, or when the local currency is in trouble. Obviously, the people who take the initiative to invest in Bitcoin before such events happen are those people who manage to get a greater reward.

RussiaIsBest

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Bitcoin price is increasing all over the time because there are more and more customers of bitcoin crypotcurrency so that is the most important reason so more and more popularity bigger price it is.

Tanic

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The interest for bitcoin is going and exactly the demand makes the price for bitcoin to grow. Add to that the number of bitcoins is limited by 21 millions, so it will not be enough for all people in the world. That's fact also makes the price to rise.

South Park

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Quote from: traderMax on January 24, 2017, 02:52:23 PM

Bitcoin's value is constantly increasing. Why is the price of bitcoin increasing over time?

Bitcoin has the value people decide to give to it, at first it had no value except as an experiment and proof of concept, but then people began to realize this technology was innovative and it got some value and as time has passed more people have agreed with that statement and that is why bitcoin keeps growing in price, because people believe on it.

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Quote from: maku on January 24, 2017, 03:55:49 PM

Bitcoin's price is destined to rise because unlike other fiat currencies BTC is predictable and has limited in supply.
So with limited supply when bitcoin becomes more popular demand is rising and price is increasing as a result.

There are also couple more factors to consider:
- bitcoin is still a technological novelty, adoption is till in its early phase
- bitcoin is not based on debt
- bitcoin is not controlled by central authority, government or institution

With bitcoin we can avoid something like this: https://en.wikipedia.org/wiki/Dollar#/media/File:Zimbabwe_100000000000_Dollars_Bill_2008.jpg

No doubt that the price of the bitcoin will increase eventually as it becomes more and more popular, however you saying that it is predictable I might have to disagree on that, because as we saw, the price went up to 1000$ and we predicted that it is going to keep rising but we were wrong, my point is that we can never predict the future we can only hope for it to keep rising.

OrangeII

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Quote from: traderMax on January 24, 2017, 02:52:23 PM

Bitcoin's value is constantly increasing. Why is the price of bitcoin increasing over time?

bitcoin purchase ynag so much, halving, and many other things that could make bitcoin prices to rise. we will not be able to conclude what makes bitcoin prices rose to a higher, but, if there is no information halving happens, then, most likely bitcoin prices go up because people are buying bitcoin.

streazight

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Quote from: kryptqnick on January 25, 2017, 03:15:24 PM

Quote from: maku on January 24, 2017, 03:55:49 PM

Bitcoin's price is destined to rise because unlike other fiat currencies BTC is predictable and has limited in supply.
So with limited supply when bitcoin becomes more popular demand is rising and price is increasing as a result.

There are also couple more factors to consider:
- bitcoin is still a technological novelty, adoption is till in its early phase
- bitcoin is not based on debt
- bitcoin is not controlled by central authority, government or institution

With bitcoin we can avoid something like this: https://en.wikipedia.org/wiki/Dollar#/media/File:Zimbabwe_100000000000_Dollars_Bill_2008.jpg

Bitcoin price is not predictable although btc really is limited in number, so I honestly think bitcoin is not destined to rise but it just does, because there are more people believing in it or less people but they have a lot of faith. So, yes, like you say, it is happening because of popularity and other factors are rather causes of this popularity, IMO. And yes, inflation is definitely avoided by the limitation.

But, I think we can predict the price of bitcoin from the progress of bitcoin in our local area. In my area as the number of bitcoin users are increasing continuously, because when I started using bitcoin at that time I think I was the only person to use bitcoin but now I can see that the number of bitcoin users in my area are more that 50 may be more.

So, I can say that it is a good progress and therefore the price of bitcoin will continue rising at least will remain constant.

PokerFace3

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Quote from: ipanks on January 25, 2017, 09:01:53 AM

Quote from: LovelyPrey on January 25, 2017, 08:33:55 AM

Quote from: traderMax on January 24, 2017, 02:52:23 PM

Bitcoin's value is constantly increasing. Why is the price of bitcoin increasing over time?

In my own opinion I guess it is because of its being in demand of the coin.
And investing bitcoin in so many ways.
Keeping bitcoin in their wallets so it cause in demand of bitcoin.

demand and supply from the market is the the most factor that i know will make bitcoin price increase and decrease but we seen that sometimes bitcoin price is not going to go up or down but its flat in the one range like now. i think the price is ready to go in another price and many of us is hope that the price will be up like before.

Demand and supply is the obvious reason behind the price increase, we can see that when the demand of bitcoin is increase, people start buying and so the supply decreases and therefore the price of bitcoin also increase, and when most of the people start selling bitcoin so the price start decreasing because people even welling to sell their bitcoin on a little lower price also .

Victorycoin

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Quote from: jakelyson on January 25, 2017, 01:21:47 AM

The same way everything else acquire its value, the law of supply and demand. Fortunately bitcoin is a limited supply. So if new demand arises, the price will easily rise too. Unfortunately, the volume is still low that whales can still manipulate the price by dumping and pumping bitcoins.

Yes the law of demand and supply is actually behind the rise in the price of Bitcoin. Total supply of Bitcoin has an upper bound of 21 million coins and that is already too little for the entire globe. Then as much more people from different countries are getting pissed off with their local currencies and Bitcoin obviously offers better and unprecedented options, the demand for it keeps soaring and so its value. As a matter of fact, the projection is that as more and more people come to adopt Bitcoin, the demand would increase even further and that is sure to make Bitcoin much more valuable.

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