Topic: How you can Increase the value of Bitcoin (Read 3113 times)

I think the more we can inform people about Bitcoin and it's uses and benefits, the more likely it is to succeed. Many people just don't know how it can be used yet and most don't even know that it is still around and thriving.

Even if the coins are dormant they are still there and are part of the bitcoin economy, as satoshi said lost coins are a small contribution to the value of the other holders of bitcoins if satoshi burned his coins that would be a big contribution to all of us, and that could be enough to give us another rally since confidence in the coin will go up.

The Topic is about the discussion to try and increase the whole value of the Bitcoin, Not just the present rate. If you the current situations and be updated with the news every day then you can can predict whether the price is going high or getting low.

For me, you cannot change the value, you cannot do anything for the value of a certain money or bitcoin. You cannot also predict the value whether it can grow high, or rise its own value. We cannot see what will happen for the value of a bitcoin, if it is goes high, next day, or next week it will goes down.

That is really unfortunate that some group of people are not caring about the scalability of bitcoin rather they are just looking for their mining profits.

But I am sure they will not keep on blocking for ever. The time will convince them to adopt new changes for better system with better value. It is a usual problem in all open source systems, but bitcoin got like minded devs to contribute for smooth progress all the times.

Currently a whole team, not a person. The current picture is looking more so like two teams, diverging into slightly different directions, not that good! End of 2017 some sort of democracy will kick in either activating Segwit or just let it time out, which would be the wrong decision in my mind. Not for Segwit's purpose, but for change and progress still beeing imaginable.

i think you can only hope for 100 BTC, and may be when the price reach to 2000 USD you will even be hopping  but it now look like impossible that the price of bitcoin will fell down to such a low price. to me if some one do not have bitcoin they should try to buy now because in future no one will get the chance to buy bitcoin even below 1000 USD. so it is still good chance to buy bitcoin and those people who have it they should try to hold it.

if satoshi is really dead, i think there would be another person that will replace his work and continue what satoshi did and make sure that the project will reach the goals as satoshi wants. but i believe that, if we still using bitcoin for multiple purpose then we can increase the values of bitcoin and bitcoin will stay longer until the end of coins.

In my imagination Satoshi has died. Most probable explanation - Occam's razor - for his sudden disappearance. However there is no lack of tantrums from other developers, like Hearn did which significantly suppressed the BTC value.
Short effects, on the long run one person woun't matter at all.

I dont see the reason why the price will skyrocket if Satoshi burn his million BTC.  At this point, the coins is idle, so basically it is out of the  in the market circulation, burning the coin does not change anything except making it permanently out of the market.  But I agree that when this million BTC move and sold and dumped aggressively to the exchange, we can see a sudden decline in price maybe we can see another sub $100 BTC.

It depends on the person, if Satoshi revealed himself or someone discovered who he is then even if he is not involved directly on bitcoin anymore he could affect the price dramatically, if he wanted to withdraw his coins then probably the price will plummet, but if he burned his coins then the price will skyrocket.

just having a big amount of btc, would allow you to modify btc prices, btc price is managed by market, the amount of of btc buyed and selled reflects on btc prices, that 's why the speculations about what would happen if satoshi releases the btc that he should have..

Certainly, you're right since there are only 20% people have known bitcoin. It's diffucult to explain the crypto  currency to new people who didn't heared it ever. Another reason, bitcoin is very popular for used in black market, which may reflect negative impact to a person who are interested to know it.

Spreading the news about bitcoin isnt an easy thing to do since you will really need to explain precisely to people regarding on it and if they heard not clearly on what you have explained then it would be useless at all.Adoption is the only way could able to affect bitcoins price.

yes a single person can try his best, if he introduce bitcoin in area in a best way and if he succeeded in convincing people to start using bitcoin then they will certain convince other people and  through this way a lot of people will learn about bitcoin, and this chain will continue for ever, so in this way i think a single person can also affect the price of bitcoin.

Only due to unawareness, people will view bitcoins as ponzi. If bitcoin is the ponzi scheme, then every stocks and bonds also will be coming and ponzi scheme.

Moreover, investment opportunity of bitcoin is not the only thing. We can use bitcoin for easy internet transaction. If we explain the other benefits except investment opportunities, I guess they will easily spread bitcoins to have more value for bitcoins.

The problem with bitcoin is that entered one of the most fierce markets in the world the market of currencies where almost every country has one and they are playing to try to advance their interest and currencies all the time, so that is one of the reasons the adoption ob bitcoin has been slow.

I'm not ready to accept this fact, it is highly dependent on what level of people you will be approaching. If they are talking to literate people then surely they will be showing interest on new things and new technologies.

It is common when we are approaching some new people regarding money related things, surely they will doubt about multilevel marketing or as ponzis. We must have patience to convince them by explaining the features of bitcoin. We should not run away due to this.

It is not easy to refer someone about Bitcoin because most of them do not want to learn new things or new technology. The worst situation is that some of them may even believe that Bitcoin is evil and have some relationship with multi-level marketing AKA stupid ponzi scheme. That's why I never want to talk about Bitcoin with my friends or family

There are scam coins that are still getting attention. Imagine that? You can create a fake cryptocurrency, hype it up, and people would buy it. The demand would increase. Hyping something up is the way to go if you just want to increase the value of something. Look at the products that famous celebrities advertise. Since they have a lot of followers, people buy it. They think that it's the incoming social trend so they buy it even before it becomes the new thing. If these famous celebs would advertise bitcoins, it would create a hype as well. I'm still wondering as to why is there none of them that's strongly supporting bitcoins.

then explain to me how so many media talking about BTCC manipulating the volume of bitcoin in china and could affect the price drastically? , bitcoin is pure about demand and supply, when someone with big money are making its activity at the same time and massly, bitcoin will be influenced

to me i think beside a single person i do not think that a group of people are even a single nation cannot  effect the price of bitcoin and to me the reason is that bitcoin is a decentralize currency and is value changes from time to time.

Yes, spreading out bitcoins for moving toward mass adoption would be the possible way every individual can do to increase the value of bitcoins. When we are creating demand for bitcoin, obviously  will be getting higher values.

We need to innovate new ideas for spreading bitcoins to new people effectively. Our daily life's need related business will be helping new people getting know about bitcoin ecosystem.

Especially those traders who are doing trade with gold will come to trade bitcoin immediately because they are aware with the trading system which we do in bitcoin and they are tired with slow income from their trade in gold. If they will see the income from bitcoin then they will not go back to trade in gold but will shift permanently to bitcoin trade.

Maybe as an individual the best thing that I can offer to increase the value of bitcoin is to refer bitcoin to all of my friends and relatives.
I believe that increase in demand would increase the value of bitcoin especially when people invest in it and use bitcoin in a way of buying something at any merchant that accepts bitcoin.

Yeah, the power of marketing is something that can not be underestimated. Everything will depend on the extent that the promotion will have. It is also important to provide the correct information about Bitcoin and the benefits that this can bring to society, in a way that people can understand. That way, other people will realize that Bitcoin is something serious and with a lot of potential.

I think i can increase the value of bitcoins with put my money in it,
every month i must buy bitcoins consistently although just small amount of bitcoins
and i will save the bitcoins for long term and for short term i do trading altcoins.
I think it will make increase the value of bitcoins.

That might not impact much but that will be a start. If everyone here in the forum starts promoting Bitcoins to their friends and family then definitely it will impact on the value of the Bitcoin.

The rate is stabilized now and it's the season to start fresh so Promoting now would be a good idea to increase the overall value of the Bitcoin.

Do you think, a single person can impact on bitcoin price? Obsolutely no. May the person might advertise about bitcoin and few people start using bitcoin because of this. But this might note impact much!

yes if the big companies will start using bitcoin it will a plus point for bitcoin. and specially if they start their services on bitcoin, for example if a mobile company will start their network service on bitcoin, through this way they can really increase the bitcoin users and which will also increase the value of bitcoin.

This is the best way to make the network effect stronger and wider. The interesting part is that even small holders, by promoting Bitcoin in the best possible way, are able to attract large investors, as investors are looking for something that has the potential to generate demand around the globe, by solving real world problems, and which has the potential to grow organically and steadily.

This will not affect the price, this will only affect awareness of bitcoin and I don't think this is going to be enough to encourage that much adoption because business owners are not dumb, if a bunch of people arrived at your business demanding you accepted a particular type of currency, you will begin to accept so you don't lose customers.

Also if you can motivate big company also to accept bitcoin with promotion like discounted if you use btc. that can attract people using it many people can invest in bitcoin until they know what is bitcoin more people will come and more price increase will come..
I think more company should be invite to accept bitcoin as payment so that more people are using bitcoin and get the benefits of the price increased..

yes i agree, i think it is the responsibility of every bitcoin users to introduce bitcoin to his friend his neighbors and his family. i think it will be more valuable if we introduce to shopkeepers and other big trader, because they start using bitcoin for their business then it will be more valuable. and in this way the value of bitcoin will increase. so we can conclude the the value of bitcoin can be increase by increasing the number of bitcoin users.

Got your point. Like last month , bitcoin value increasing as well the dollar. It can also happen due to lot of number of users and investment of bitcoin that its circulating in the industries that can help btc to increase bigger.

Yup, it is mean the traders helps bitcoins (bitcoin's price) because of speculation from the traders and
investors bitcoin's price had increased up to more than $1000 this year, the traders getting profit it is just bonusess
because they are taking high risk too.

I feel you Op. I too believe that bitcoin is vehicle of progress but current economic and legal framework is limiting its potential. What is especially troublesome is Chinese dominance in the trading field.
Chinese traders with closed minded approach will dump every Bitcoin at first sight of Chinese government trying to ban BTC. I don't get it, why they are so afraid? It is not like Bitcoin can be banned!
Only legally operating, centralized bitcoin satellite services can! For bitcoin it increase its value we need one thing - adoption must increase. It will eliminate central points of trading - in this case China.

Traders increase the value of bitcoin by putting demand and buying them for future profit.  Yes I agree that traders are the initial people who put value to the coins because they are the first one pouring money to the bitcoin economy.  Merchants and users are the people who make bitcoin value stable.

in one sense bitcoin value can only be increase if the price of bitcoin goes high, but if you are talking about increasing the number of bitcoin, then it can easily be done trading alt coin. in alt coin you can trade any amount of money.

Well i have got the point of this, traders doesn't help for bitcoins, if the traders doesn't help anything for bitcoins, so who were the people whom made bitcoin's price becomed $1000/BTC does is it not help for bitcoins? do you think bitcoin's price increase because users of bitcoins? How much the peoples whom use bitcoins on their real life for transactions daily?

We can increase the value of bitcoin by introducing the purpose, importance and the use of bitcoin. In my country, not all people here are knows bitcoin well. Means bitcoin is not that popular, they dont know whAt is bitcoin though. So, by introducing bitcoin to people here we can get to increase the value. By means of buying bitcoin, we can exactly increase the value of its price.

You are saying the possible way on increasing the number of bitcoin, not the value of it.  Value can only be increase thru mass adoption.  More people means more demand, more demand means more buy support, buy support will compete against each other and put higher buy than the other one resulting to increase in Bitcoin price.

I love the reasons op alluded on increasing the awareness of bitcoin and also making people in high places see the advantages this offers so that China will not continue the entire people involved in bitcoin to ransom because any news from that angle will either increase the price or crash the price. But the problem is that government most times do not really think about how much to be saved but how much to earn by gong the way of bitcoin a lot of cost will be saved in which they will agree but what of the taxes that will be lost or the jobs that will be lost if people stop going to banks to deposit or the charges people pay for transactions is now lost. Comparing the two, I guess every one knows which route a rational government will take.

The values of the bitcoin can be controlled by the community that uses it, if people hold bitcoin that the demand on it will rise and so as the price, and if people spend than the demand will go down and the price will go down and that is basically what happened when the price was 1000$ people started selling and look at the price now.

yes trading is the best option for increasing bitcoin but for those people who have sufficient balance in their wallet. although we can start trading with little amount but the income that will come from that amount will be a little one. 

Yes, if we stop panic selling then we can prevent further collapse of bitcoin prices. But to increase value of bitcoin from this point we must work on bringing bitcoin into mainstream of adoptions. That must be the long term solutions regardless of panic selling nor profit booking.

Moreover traders will always have some reason to sell off, but if we have enough buyers at each and every levels then there will not be any possibilities for sudden downfall.

yes the traders only care about profit that is because it is their job, and i think traders also play an important part for the price, at least the traders can help the price to be stable, and to increase the value of bitcoin we need a lot of user, we need huge amount fo transaction and we need the cooperation of each user to keep promoting bitcoin and keep giving useful information about bictoin

Totally agree. Traders only care about the profit and they do not care about Bitcoin at all. All they can do is to pump something in order to get a good price. Bitcoin is being destroyed by those traders so that we can understand that traders can not help Bitcoin. The value of Bitcoin can be increased by CHinese investor or some impact on the world ecosystem

Most of traders only want to get profit, if there's pump they will buy bitcoin but there's some point that they will sell their bitcoin to gain profit and it's not helping bitcoin to increasing its value even higher at all
trading is basically taking advantage from little chances, so we can't say that trading is really helping to increase the price because traders also eventually contributing to the dumping of bitcoin

I agree with you trading will make increasing amount our bitcoins of course with use method that can give profit consistently
although it will not be easy but for increase values of bitcoins,
it is just hold the bitcoins for long time will increasing the value of bitcoins in my opinions.

in fact introduction bitcoin in our area and motivation people to invest their assets in bitcoin is the way to increase the value of bitcoin. because if new people are investing money in bitcoin it will cause the increase in demand and will ultimately increase the value of bitcoin.

You can gain it on all kind of methods but one of the best methods is just by doing by trading or  providing a service like more people are doing here.

nothing if one person can incraese bitcoin price
only issue and big news about economic, dollar price
can get incraese bitcoin price
if pumping, only community and big capital money can incraese bitcoin price

Bitcoin should be introduced to people who are not aware of it. At the same time, shop owners should be explained how they get benefits by accepting bitcoin as their payment. They should be explained once payment is made in bitcoin, it cannot be replaced. In india, over 95 % of people dont know about bitcoins. It comes around 100 crores of people. If they are made familiar to bitcoins, then the demand for bitcoins would rise tremendously which in turn would raise the value of bitcoins.

As quoted bitcoin evolved as a storage token, but right now its been preferred as an investment and as a commodity for the trading purpose and earn good profit. Even with such a move bitcoin has been gaining popularity, else it could be the same as the other digital currencies.

Shops are not stupid and so do we, the price does not guarantee they can easily have a good market from the bitcoin users. It's true that it is base on demand and we are expecting that the demand has increase since the price follows, however take into consideration that the price is not moving in a normal way, see how it fall from $1,000 this month and now at $700+ . They want a little stability than a manipulated price.

I get your point and agree that we need the value of Bitcoin to increase, but the primary purpose for which it is designed is now secondary, people are just sitting on their bitcoin waiting for the price to increase and sell to take profit. I'm telling you if more shops start accepting BTC the value will be on increase.

I just have to do what I can do for now, that's the problem with the central bank, they are threaten by the growing popularity of bitcoin and they issues negative statement just to discourage people from using it. Alright, let's work together and educate our friends and our community as well so we can spread awareness all over.

You have some better points to give support to the bitcoin and to give benefits to the users of bitcoin. With these steps I am sure that bitcoin will start to spread with faster speed and the price due to the increasing demand will once again start rising.

Actually if we increase the value of bitcoin then it will get more chances to be used as medium of exchange. Even bitcoin was designed to be currency it also was included another characteristics investment just to have mass adoptions. So, to use bitcoin as medium of exchange first we need to take steps to increase its value.

The best thing is make BTC be the actual use case of which it was designed Currency, because nobody will care if it is used as medium if exchange if sure pronouncement is made and will have little or no effect on the value, the way speculators are manipulating Bitcoin is what is causing the crash, now we have more BTC in exchanges than it is being used in real life for transaction.

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Can maybe happen but we still have to see this and we also of course need a lot of patience to do and hold our bitcoins for a while.

yes that is also the reason, but to me if we stop panic selling which is root cause of bitcoin price decrease then we can really increase the value of bitcoin, most of the time when the price of bitcoin start felling that is what still in progress then we also start panic selling and the price fell down to a lowest price. which create problems them.

In my country Philippines It's hard to introduce bitcoin because of theur mentality in internet scheme the word that comes in their minf is scam so It's very hard to increase the bitcoin user here in my country. But there's an issue inour government that the bitcoin is involved so the bitcoin user here in Philippines goes boom! So I can say that you can increase the bitcoin price when many people buy bitcoins. So it is important that every government in each country introduced bitcoin in their people.

I think people on this forum mostly has been spread their words about bitcoin to their areas, I think mostly aware more adopters, the price will increase. The important thing is how we introduce bitcoin itself to the areas, I also do this for past 2 years ago, just got 5-7 people it's my friends who interested to bitcoin, they just an enthusiasm who just buy decent amount of bitcoin for investment, trading & used as currency (buy digital goods).

Adopters(or demands) is the important thing to throw the price to the sky, it's feels recently when people in Venezuela aware about bitcoin, the bitcoin users increased over 200% there, also it's affect to bitcoin price itself.

Yes only with more adoption of bitcoins, we can bring price increase for bitcoins. Until then, expecting huge price levels for bitcoins, may trap us at any time just with the reason of some group of people's pump and dump.

To increase the value of bitcoin, we must encourage new people to adopt bitcoin. Yes, it is the responsibility of every bitcoiner, unfortunately no one feels about it.

yes that is a fact no doubt about this, it is the responsibility of every bitcoin users to introduce bitcoin in their area, because if people will be using bitcoin then we will enjoy the the actual facilities of bitcoin. therefore it is important to introduce bitcoin to everyone.

I am thinking up a mutual fund similar crowd buying of bitcoins. I just read an article stating bitcoin prices will reach $5000 price levels by 2020. He is a market research expert and I am continuously following him.

5x profits in 3 to 4 years must be very decent returns for any type of investments in my country. I guess this way, I may contribute to bitcoin value appreciations.

I believe talking to business owners must be a 2nd step. Before urging businesses to adopt bitcoin we must have decent number of bitcoin users. So the first step must be talking to our friends and known people to make them to adopt bitcoins.

But the benefits are unlimited. When we are encouraging bitcoin adoption by the level we could do, we never need to bother about any banks/ countries to manipulate/control bitcoin price levels.

We must educate our forum members to know the responsibility of spreading bitcoin to have better future for bitcoins. A strong initiative must be this time's requirement.

Yes, however many are citing the recent caution by the Central Bank of China is participating  with the drop on some level. I did expect a drop after the holidays. I have been active with sellers, especially clear net sellers. I ask them if they take BTC if I want to make a purchase. I begin there. It generates interest, it is a short sale, but educating sellers about the system and how to safely use it is quite a mouthful but they listen, WHY? Because all of the sellers hate the Credit/debit card gate fees. They are expensive, and unlike the American dollar the value of BTC will rise with inflation instead of becoming devalued like the American dollar or any other currency for that matter.

So The Central Bank of China shit talks Bitcoin and the price drops. I think that is BS, but we can fight fire with fire.

 I would urge every forum member to take the time and explain to a business owner the obvious benefit of accepting bitcoin.
 I mean communication is what is taking the price down a BS Bitcoin Polemic from the East. Well we can use the Internet and especially or daily purchases to make a positive impact on Bitcoin.

A Government that adopts bitcoin as currency, is saving it's self hundreds for millions of dollars in coining and engraving costs. For business, a virtual currency that has no "gate fee's" associated with the vendor receipt of funds.  Instead you have the consumer paying for the use of the virtual system at the time of receipt of the Bitcoin. Not to mention that a convenience store that accepts Bitcoin, will not be a target for robbers any longer. How could the businesses of the world over look the obvious value of Bitcoin. Lastly, unlike the dollar Bitcoin is volatile, it has  great potential to go up and down making it an investment vehicle. Something the US Dollar would never be good for.
  I grant you that Bitcoin does have the ability to make significant drops. However it's history shows a steady and continued pattern upwards. As more countries and businesses accept Bitcoin, the more it's value will grow, in spite of periodic sharp drops.

So, get out there and make some noise of our own. It cost nothing, just take a few minutes of free time. We can effect the market, BUT, it will take all of us to make that change and to prevail against more powerful voices.  Remember, your not selling anything to the business your pitching Bitcoin to, that should be enough to get you heard. Then they are going to want to know about exchange safe storage, etc... So your may be finding that you become a consultant, helping business integrate BTC in their local economy. A Grass Roots effort, will prevail.