If price of BTC reach 50K who is going to buy?

jellyhashman

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Quote from: joseafonso123az on September 06, 2017, 10:13:22 AM

If it reaches this value, maybe bitcoin will be widely known and used by people. That said, it may be stable and, who knows it will have plenty of use in the future for people, so I believe people will buy them, even if that means buying a small portion of bitcoin.

IMHO it must be used by people not as speculation, but as a payment tool.

shursight

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This is the same as those who bought at $200 when it was at that price. Probably they thought that nobody was gonna buy bitcoin if it reaches $5000.
Now everybody is crazy for buying a coin, or maybe less than a coin, but they want to buy bitcoin no matter what. So the volume in bitcoin is amazing, and there is more people buying everyday, so i think that people will buy bitcoin no matter how much is the price.

SoulEaterRR

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Quote from: gabbie2010 on August 21, 2017, 12:49:41 PM

I just sat down reasoning about everybody's decision to hold or keep their BTC, if the price of BTC reaches 50K today who is going to buy at that price? then there will be many sellers and few buyers, is the reasons for holding or keeping the BTC justifiable? please some convincing explanations.

Of course, the price is sky-high and buying at such a high price will not be enough. This is pure speculation on bitcoins (I mean large percentages of the whole bitcoin). Simply, many will switch to other alternative crypto-currencies.

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Quote from: gabbie2010 on August 21, 2017, 12:49:41 PM

I just sat down reasoning about everybody's decision to hold or keep their BTC, if the price of BTC reaches 50K today who is going to buy at that price? then there will be many sellers and few buyers, is the reasons for holding or keeping the BTC justifiable? please some convincing explanations.

One bitcoin is a completely arbitrary amount of bitcoin.So the price is completely irrelevant.
Of course I will buy at whatever price. When you buy $100 worth of bitcoin it does not matter if the price per coin is $0.11 or $11,000,000. Stop thinking of bitcoin as coins, they are not coins. It is more like a big pie and if the price is high then you get a smaller piece. But you still can have $100 dollars worth of pie.

romero121

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If the price reaches $50k, surely people feel it to be unaffordable. But in reality even a single Satoshi becomes more valuable. Based on this people give the same importance as now in the future. An example for the same is the value of fiat in the past to the the present day. In the past single USD was much valuable, but right now the same value was for about $100, similar variations will happen with bitcoin in the coming days.

joseafonso123az

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If it reaches this value, maybe bitcoin will be widely known and used by people. That said, it may be stable and, who knows it will have plenty of use in the future for people, so I believe people will buy them, even if that means buying a small portion of bitcoin.

swscowods

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Quote from: gabbie2010 on August 21, 2017, 12:49:41 PM

I just sat down reasoning about everybody's decision to hold or keep their BTC, if the price of BTC reaches 50K today who is going to buy at that price? then there will be many sellers and few buyers, is the reasons for holding or keeping the BTC justifiable? please some convincing explanations.

There are still lots of people who would be willing to buy because for the price to have risen from 0-10-400-900-1500-3000-10000 up till when it reached 50k without being brought down then the market has a lot of potentials to offer to investors.

The_Dark_Knight

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Quote from: cpfreeplz on August 25, 2017, 10:13:30 PM

There are 6 billion people in the world (let's just say). There are 21 million bitcoins. If you own 1 bitcoin you own the bitcoins of ~286 people. Think about it that way. Now those 285 people need to scramble to buy a bitcoin. And you think they'll stay around $4000!?

Not everyone is going to get into bitcoin, however you make an interesting exercise if the world population is 7 billion and only ten percent are going to ever get into bitcoin then that means that if you hold a bitcoin then you own the bitcoin of 33 people so the more you own the more valuable bitcoin becomes since fewer people will get access to bitcoin.

bucciarati

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it's like real estate spculation: rich people buy houses for hundred of euro/dollars and then sell for profit so i think high price won't influence buy decision negatively. add that you can't buy a fraction of a house (well, in reality you can but ...)

Carlsen

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I guess five years ago people asked the same question about the price we have today.
I am sure that you will find people who buy bitcoin even for the price of 50K.
Nobody needs to buy a whole bitcoin.
For the same amount of dollars you need to pay for one bitcoin today, you will get about 0.085 bitcoins once the price is at 50K.
That bitcoin amount is worth a transfer.

Dr.Osh

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I think the price is so high. If the price for 1 btc equals $ 50k, it may be just a businessman with a lot of money or a company that can afford it. Well, we can also buy it, but i think it is very difficult to buy 1 btc.

Eric Cartman

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Lots of people, to have a change to sell higher one day.

eagle10

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Quote from: JaredStein on August 21, 2017, 12:53:05 PM

That is the beauty of Bitcoin. Of course, I am referring to the fact that you can buy a small fraction of Bitcoin not a full one. Many people do not understand this. It is important to explain this to beginners from the start.

Yes. You are right. People don't understand that they can buy at a fraction. Why think of a very high value when you can buy in small amount at a fraction. So people need not worry if bitcoin can soar up to 100k or 500K because you can buy at 10 sats when that time comes.

AlcoHoDL

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Quote from: layoutph on August 28, 2017, 01:22:03 AM

Few years ago, I am convincing my self to buy Bitcoin at 300usd each. But my mentality is like: "It doesnt cool to buy a fraction of Bitcoin. it must be a whole number". But its too expensive. But what happened is. I buy bitcoin 1/10 one tenth of Bitcoin for .100 while bitcoin is around 1000usd.
So the lesson is either 100k usd or 50k usd, People will still buy bitcoin at no matter price.

When the unit of trading/using Bitcoin will be the mBTC, you'll be able to!

100 mBTC is a whole number. And it's cheap, at only $430!

It's all in our head... "Whole number" doesn't mean anything in this context...

Weawant

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Quote from: layoutph on August 28, 2017, 01:22:03 AM

Few years ago, I am convincing my self to buy Bitcoin at 300usd each. But my mentality is like: "It doesnt cool to buy a fraction of Bitcoin. it must be a whole number". But its too expensive. But what happened is. I buy bitcoin 1/10 one tenth of Bitcoin for .100 while bitcoin is around 1000usd.
So the lesson is either 100k usd or 50k usd, People will still buy bitcoin at no matter price.

Quote from: gabbie2010 on August 21, 2017, 12:49:41 PM

I just sat down reasoning about everybody's decision to hold or keep their BTC, if the price of BTC reaches 50K today who is going to buy at that price? then there will be many sellers and few buyers, is the reasons for holding or keeping the BTC justifiable? please some convincing explanations.

Sad but true and that is the same with my situation since I though that bitcoins would never cross for these far and I'm doubting on it really since IF i buy for that time I think I will be rich nor earn thousands of profit on these year and it has huge possibilities to rise up again for more. And If the situation will came to reach for 50k usd at piece I'm sure that there would people would buy bitcoins for the profits sake.

layoutph

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Few years ago, I am convincing my self to buy Bitcoin at 300usd each. But my mentality is like: "It doesnt cool to buy a fraction of Bitcoin. it must be a whole number". But its too expensive. But what happened is. I buy bitcoin 1/10 one tenth of Bitcoin for .100 while bitcoin is around 1000usd.
So the lesson is either 100k usd or 50k usd, People will still buy bitcoin at no matter price.

Quote from: gabbie2010 on August 21, 2017, 12:49:41 PM

I just sat down reasoning about everybody's decision to hold or keep their BTC, if the price of BTC reaches 50K today who is going to buy at that price? then there will be many sellers and few buyers, is the reasons for holding or keeping the BTC justifiable? please some convincing explanations.

senyorito123

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Quote from: ethereumhunter on August 28, 2017, 12:58:32 AM

Quote from: kokojie on August 27, 2017, 07:06:10 PM

The same type of people buying at $5000. No one thought Bitcoin can go to $5000 in 2010 or 2011, but here we are. $50k is not unreachable at all, that's around Apple Inc level of market cap.

i am thinking the same like OP that if bitcoin price reach $50k, then only rich person that could buy bitcoin and for ordinary people, they can only buy small amount of bitcoin. i think if this is happen then maybe will be any of adjustment or other coin that used to "replace" bitcoin but the meaning of "replace" here is that coin is not directly replace bitcoin position but for adjustment in the market or anything. i am having difficult to translate what i am thinking, sorry.

Maybe those low profile's people could not afford that one and maybe they will just hunt some free bits to accumulate some profits around but we can rather expect that rich kiddo's will buy some of it since they will need those balance's for there rich trades and transactions around. But I think also that there would no replacement or whatsoever and the correct one we should use is the adjustment since I can make sure that people will adjust to the price based on there needs.

ethereumhunter

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Quote from: kokojie on August 27, 2017, 07:06:10 PM

The same type of people buying at $5000. No one thought Bitcoin can go to $5000 in 2010 or 2011, but here we are. $50k is not unreachable at all, that's around Apple Inc level of market cap.

i am thinking the same like OP that if bitcoin price reach $50k, then only rich person that could buy bitcoin and for ordinary people, they can only buy small amount of bitcoin. i think if this is happen then maybe will be any of adjustment or other coin that used to "replace" bitcoin but the meaning of "replace" here is that coin is not directly replace bitcoin position but for adjustment in the market or anything. i am having difficult to translate what i am thinking, sorry.

kokojie

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The same type of people buying at $5000. No one thought Bitcoin can go to $5000 in 2010 or 2011, but here we are. $50k is not unreachable at all, that's around Apple Inc level of market cap.

Cranidos

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Quote from: gabbie2010 on August 21, 2017, 12:49:41 PM

I just sat down reasoning about everybody's decision to hold or keep their BTC, if the price of BTC reaches 50K today who is going to buy at that price? then there will be many sellers and few buyers, is the reasons for holding or keeping the BTC justifiable? please some convincing explanations.

Who are going to buy? Of course those who can afford to. If we will talk about your scenario then the logic is there. There will be many sellers with few buyers. But take a look at the sellers part, since the Bitcoin value is so high, then we have many people who sold their coins and since they sold 'em, they have some money to buy back. The scenario will stay on a loop. Buy => Price Increase => Sell => Price Decrease => Buy again.

Topic: If price of BTC reach 50K who is going to buy? (Read 3445 times)