If Bitcoin had a stable price, would it still be as popular? - page 99.

GreenBits

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Quote from: boyptc on March 29, 2017, 09:36:49 PM

Quote from: RedX on March 29, 2017, 09:11:47 PM

No, the fluctuation of bitcoin is the biggest attraction for all investors, traders and bitcoin enthusiast. Put that away and majority will get out and lose interest on bitcoin. The idea of its price that could go up to more than $10,000 is why people believe and hold onto it.

I agree that because of bitcoin's unstable price it is the one that attracts more new investors to come. And not just the possibility of bitcoin's price to pump up to $10k is what the people are believing but the price of it that can possibly go up higher than that is makes it more reliable and good to invest and makes it more popular.

Exactly. The volatility is the sole reason why a lot of people trade bitcoin. There is money in the downs as well as the UPS, there is money every time the price moves, if you are positioned correctly. And while some hold for the long term, exchange volume suggests that most bitcoin holders are more interested in trading, rather than holding.

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Quote from: RedX on March 29, 2017, 09:11:47 PM

No, the fluctuation of bitcoin is the biggest attraction for all investors, traders and bitcoin enthusiast. Put that away and majority will get out and lose interest on bitcoin. The idea of its price that could go up to more than $10,000 is why people believe and hold onto it.

I agree that because of bitcoin's unstable price it is the one that attracts more new investors to come. And not just the possibility of bitcoin's price to pump up to $10k is what the people are believing but the price of it that can possibly go up higher than that is makes it more reliable and good to invest and makes it more popular.

RedX

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No, the fluctuation of bitcoin is the biggest attraction for all investors, traders and bitcoin enthusiast. Put that away and majority will get out and lose interest on bitcoin. The idea of its price that could go up to more than $10,000 is why people believe and hold onto it.

Lancusters

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Quote from: dearbesz1219 on March 29, 2017, 02:52:38 PM

Quote from: PinkLlama on May 03, 2016, 05:37:56 AM

Do you think if BTC had a stable price which could only be altered by $0.01-0.10 it would still be as popular and as used?

Yes, Bitcoin has been already popular all around the world for a couple of years and up to now it became more well known because of the people who embraced more of bitcoin. Even the volatility is swinging aggressively, whether the price was get down in the long run it will still be recover in the end.

If bitcoin will be stable, then he may lose attraction for speculators, but for many people this may be a reason to keep their savings in bitcoins. It is no secret that in many countries, more inflation and their savings now, they use the dollar. Why this place doesn't take bitcoin?

Perle

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Quote from: bettercrypto on March 29, 2017, 04:02:07 PM

Stable or not, Bitcoin will always be popular. First it is the first mover to the decentralized blockchain. Second, with its userbase that does not include only traders, with the stability of Bitcoin price will welcome Bitcoin to its new community and much wider scope of usage. This will cover a bigger audience and more interesting party will join to Bitcoin due to the merchants that are accepting Bitcoin in exchange of their goods.

Bitcoin will be popular only among users who somehow deal with or deal with crypto currency. People who live permanently in the network, for them it's all simple, but a simple person needs the convenience of using his finances. Bitcoin is too smart.

bettercrypto

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Stable or not, Bitcoin will always be popular. First it is the first mover to the decentralized blockchain. Second, with its userbase that does not include only traders, with the stability of Bitcoin price will welcome Bitcoin to its new community and much wider scope of usage. This will cover a bigger audience and more interesting party will join to Bitcoin due to the merchants that are accepting Bitcoin in exchange of their goods.

darthmaul

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Well With your statement it would have been normal or what can I say daily currency! It would have affected by minor changes which would have solely dependent on everyday market status, transactions and all the chaos in worlds share market. BTC currently stands a chance to be unique and growing faster as the world is moving further. When any of the commodities become stable or has remarkably tiny changes in its trade volume then it becomes dead over the time. It might have had happen than bitcoin would have been dead by now if it would have been sticking to your said statement. Consider yourself very lucky that something like BTC exists in today's world and which is giving us huge profit to live dreamy life.

dearbesz1219

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Quote from: PinkLlama on May 03, 2016, 05:37:56 AM

Do you think if BTC had a stable price which could only be altered by $0.01-0.10 it would still be as popular and as used?

Yes, Bitcoin has been already popular all around the world for a couple of years and up to now it became more well known because of the people who embraced more of bitcoin. Even the volatility is swinging aggressively, whether the price was get down in the long run it will still be recover in the end.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Gameroid on March 15, 2017, 12:02:34 PM

Quote from: TheUltraElite on March 15, 2017, 08:17:16 AM

Quote from: bravehearth0319 on March 15, 2017, 01:45:33 AM

Quote from: PinkLlama on May 03, 2016, 05:37:56 AM

Do you think if BTC had a stable price which could only be altered by $0.01-0.10 it would still be as popular and as used?

Bitcoin has been already popular a couple of years past even up to now it became more popular because of the demand of the people who'll get interest to use bitcoin. Moreover, there are big whaler investors are adopting the concepts of it too.

It has been popular at a high rate since the release of bitcoin. People have been using it and understanding all the benefits of using it above fiat currency. As acceptance grows, so will the price increase. The investors are important to pump the price as well. They are the ones who are also profiting from it. So the price is important but there are other factors as well.

yes it is a fact that it is already a popular currency and now people are getting benefit from bitcoin. people are mostly investing their fiat in bitcoin as they are expecting that the price of bitcoin will increase more and more.

Many people have put away a lot of savings in bitcoin. This in turn made them profitmakers because prices were bound to increase. Then again rising prices means ore traders who are attracted and join and invest more into it. So all this leads to even more increase in price. Anyone who invests in bitcoin trading is now bound to make profits.

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Quote from: darthmaul on March 15, 2017, 12:25:24 PM

Yes I completely think so. Bitcoin is best way to hold your fiat holdings securely. Bitcoin gives us freedom of saving our money in virtual world and if it's bitcoin then we know very well it is backed up with trillions of blockchain network making it secured vault! Plus, we can do any amount (literally big amount) of money transaction within few confirmations (1-10 minutes) and that too with small fees. People would really prefer to do that over the banks who will ask you for lots of documentation, that again exposes your identity whereas bitcoins is secure and anonymous!

So, yes though bitcoin had a stabe price, it WILL still be as popular.

When you transfer millions of money by the banks, next thing you know, a government agent is on your doorstep asking for where did you get all those money, taxation, etc. The "small" fees is debatable, though. People think that it's still a high fee but it's much smaller compared to other payment methods.

For bitcoin security, it actually depends on you. If you don't hide your private keys in the right place, someone will be able to get it. Online wallets aren't that trusted by most bitcoin users that have been here enough to see major exchange sites getting hacked.

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Yes I completely think so. Bitcoin is best way to hold your fiat holdings securely. Bitcoin gives us freedom of saving our money in virtual world and if it's bitcoin then we know very well it is backed up with trillions of blockchain network making it secured vault! Plus, we can do any amount (literally big amount) of money transaction within few confirmations (1-10 minutes) and that too with small fees. People would really prefer to do that over the banks who will ask you for lots of documentation, that again exposes your identity whereas bitcoins is secure and anonymous!

So, yes though bitcoin had a stabe price, it WILL still be as popular.

Gameroid

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Quote from: TheUltraElite on March 15, 2017, 08:17:16 AM

Quote from: bravehearth0319 on March 15, 2017, 01:45:33 AM

Quote from: PinkLlama on May 03, 2016, 05:37:56 AM

Do you think if BTC had a stable price which could only be altered by $0.01-0.10 it would still be as popular and as used?

Bitcoin has been already popular a couple of years past even up to now it became more popular because of the demand of the people who'll get interest to use bitcoin. Moreover, there are big whaler investors are adopting the concepts of it too.

It has been popular at a high rate since the release of bitcoin. People have been using it and understanding all the benefits of using it above fiat currency. As acceptance grows, so will the price increase. The investors are important to pump the price as well. They are the ones who are also profiting from it. So the price is important but there are other factors as well.

yes it is a fact that it is already a popular currency and now people are getting benefit from bitcoin. people are mostly investing their fiat in bitcoin as they are expecting that the price of bitcoin will increase more and more.

Xenophoto

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Quote from: lionheart78 on March 15, 2017, 10:45:57 AM

Quote from: target on March 15, 2017, 02:34:13 AM

Quote from: bravehearth0319 on March 15, 2017, 01:45:33 AM

Quote from: PinkLlama on May 03, 2016, 05:37:56 AM

Do you think if BTC had a stable price which could only be altered by $0.01-0.10 it would still be as popular and as used?

Bitcoin has been already popular a couple of years past even up to now it became more popular because of the demand of the people who'll get interest to use bitcoin. Moreover, there are big whaler investors are adopting the concepts of it too.

But then bitcoin wouldn't be known if the price is stable, there wouldn't be investors flocking to buy it. It will be like a storage of wealth like tether that maintains a value of $1 per token. Its not going to help but if you are unsure where the market is going that when tether is going to be useful. Bitcoin's price inflates which is why if its price is lower than usual, people buy. And those investors profit when price spikes, they will then dump for the profit. Its how healthy ecosystem works.

What gives you an idea that there will be no more investors to buy Bitcoin once the price of BTC is stable? Don't get blind and stay focus on the traders / day traders. They are only one of the many possible investors of Bitcoin. Merchant loves stable price. Users loves too, to be able for them to budget on how much Bitcoin they need for a certain Item.

The fact that most people are here because of the price volatility and the major price increase/decrease proves that most people will leave bitcoins right away when it gets a stable price that never ever moves. There are tons of altcoins out there and leaving bitcoins and switching to another coin is not that hard. Merchants might love the stable price but how are they going to earn money if most users have already stopped using bitcoins.

In a way, all of us are actually investors of bitcoin. We all hold bitcoin and choose to earn bitcoin instead of fiat because of price volatility.

lionheart78

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Quote from: target on March 15, 2017, 02:34:13 AM

Quote from: bravehearth0319 on March 15, 2017, 01:45:33 AM

Quote from: PinkLlama on May 03, 2016, 05:37:56 AM

Do you think if BTC had a stable price which could only be altered by $0.01-0.10 it would still be as popular and as used?

Bitcoin has been already popular a couple of years past even up to now it became more popular because of the demand of the people who'll get interest to use bitcoin. Moreover, there are big whaler investors are adopting the concepts of it too.

But then bitcoin wouldn't be known if the price is stable, there wouldn't be investors flocking to buy it. It will be like a storage of wealth like tether that maintains a value of $1 per token. Its not going to help but if you are unsure where the market is going that when tether is going to be useful. Bitcoin's price inflates which is why if its price is lower than usual, people buy. And those investors profit when price spikes, they will then dump for the profit. Its how healthy ecosystem works.

What gives you an idea that there will be no more investors to buy Bitcoin once the price of BTC is stable? Don't get blind and stay focus on the traders / day traders. They are only one of the many possible investors of Bitcoin. Merchant loves stable price. Users loves too, to be able for them to budget on how much Bitcoin they need for a certain Item.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: bravehearth0319 on March 15, 2017, 01:45:33 AM

Quote from: PinkLlama on May 03, 2016, 05:37:56 AM

Do you think if BTC had a stable price which could only be altered by $0.01-0.10 it would still be as popular and as used?

Bitcoin has been already popular a couple of years past even up to now it became more popular because of the demand of the people who'll get interest to use bitcoin. Moreover, there are big whaler investors are adopting the concepts of it too.

It has been popular at a high rate since the release of bitcoin. People have been using it and understanding all the benefits of using it above fiat currency. As acceptance grows, so will the price increase. The investors are important to pump the price as well. They are the ones who are also profiting from it. So the price is important but there are other factors as well.

target

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Quote from: bravehearth0319 on March 15, 2017, 01:45:33 AM

Quote from: PinkLlama on May 03, 2016, 05:37:56 AM

Do you think if BTC had a stable price which could only be altered by $0.01-0.10 it would still be as popular and as used?

Bitcoin has been already popular a couple of years past even up to now it became more popular because of the demand of the people who'll get interest to use bitcoin. Moreover, there are big whaler investors are adopting the concepts of it too.

But then bitcoin wouldn't be known if the price is stable, there wouldn't be investors flocking to buy it. It will be like a storage of wealth like tether that maintains a value of $1 per token. Its not going to help but if you are unsure where the market is going that when tether is going to be useful. Bitcoin's price inflates which is why if its price is lower than usual, people buy. And those investors profit when price spikes, they will then dump for the profit. Its how healthy ecosystem works.

bravehearth0319

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Quote from: PinkLlama on May 03, 2016, 05:37:56 AM

Do you think if BTC had a stable price which could only be altered by $0.01-0.10 it would still be as popular and as used?

Bitcoin has been already popular a couple of years past even up to now it became more popular because of the demand of the people who'll get interest to use bitcoin. Moreover, there are big whaler investors are adopting the concepts of it too.

markyminer

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Quote from: SHAWN-MIDWAYS on March 14, 2017, 09:24:30 AM

Quote from: TheUltraElite on March 14, 2017, 08:24:03 AM

Quote from: wizmo on March 14, 2017, 07:37:42 AM

I'm using bitcoins for safety so the price doesn't affect me and yeah bitcoin wil still be used by many even if it had a steady price.

I agree many people use bitcoin just for the advantages it offers over fiat and not that price is high. However that is the part of the population who transacting on bitcoin. The larger community of bitcoin are the traders and for them the price is everything and without the rising and falling price they would never exist. That would lead to the economy being affected badly.

i agree price isn't the main reason bitcoin is drawing attention to be popular, i think its price fluctuating nature is what the majority (traders) like it for and some scammers who exploit the irreversible feature of transactions to scam others. Despite this its partial anonymity and low transaction fees make it a popular choice for many users.

to me i think yes bitcoin will still be more popular, in fact bitcoin is a digital currency and when its price will become stable then people will put more trust on it and will start using it. therefore there will be no bad impact on bitcoin if its price will become more stable.

SHAWN-MIDWAYS

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Quote from: TheUltraElite on March 14, 2017, 08:24:03 AM

Quote from: wizmo on March 14, 2017, 07:37:42 AM

I'm using bitcoins for safety so the price doesn't affect me and yeah bitcoin wil still be used by many even if it had a steady price.

I agree many people use bitcoin just for the advantages it offers over fiat and not that price is high. However that is the part of the population who transacting on bitcoin. The larger community of bitcoin are the traders and for them the price is everything and without the rising and falling price they would never exist. That would lead to the economy being affected badly.

i agree price isn't the main reason bitcoin is drawing attention to be popular, i think its price fluctuating nature is what the majority (traders) like it for and some scammers who exploit the irreversible feature of transactions to scam others. Despite this its partial anonymity and low transaction fees make it a popular choice for many users.

Iranus

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Quote from: Hatuferu on October 26, 2016, 11:56:59 PM

Quote from: passwordnow on October 26, 2016, 11:20:30 PM

Quote from: Greenenergy on October 26, 2016, 03:19:18 PM

You would lose a lot of the speculators, but on the other hand, you would also win a lot of average people. So I guess result would be the same.

Nope, it would result the same. If the bitcoin will had stable price then it would led the people to stay away from bitcoin as it has stable value, they would choose to use fiat money or paypal for that case. That is why many investors are starting to come up with bitcoin because of its unstable price, its decentralization, they can see a good way to get profit with it.

No, you are only thinking on one dimension. The interest of the many, shall be serve and when the price is stable that means there's equal action and price will not be manipulated anymore. Big merchants will come in and this is good for online buyers and sellers but bad for the traders and those investors who are holding their bitcoins for the future.

Well in this scenario Bitcoin would have a lot of uses. I think that in the short term the usage would drop significantly, but I also think that this narrowing of Bitcoin down to one use - a currency - would probably help it in the long term. More merchants would begin to accept it as they would lose concerns about its volatility, and if block size issues are resolved this could result in widespread usage as Bitcoin would be viewed as convenient and stable.

However, transaction fees would still be significant and this may discourage everyday transactions which the Bitcoin network should encourage.

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