Topic: ⛔️⛔️⛔️ Is The Current Price Of Bitcoin Practical? ⛔️⛔️⛔️ (Read 1124 times)

Bitcoin valuation is just measured on the demand of it. BTC pricing is the practical untill the demand of buying is there is the market, no matter how high or low the price is.

Is the current price of bitcoin practical? I will say yes because if not that it is practical we the newbies will not know and having grassroot knowledge on Bitcoin. The price is practical because new people will have little understanding on it

In the current price of Bitcoins, I can say that it is practical if and only if you are the one selling. But, otherwise, the price can't be considered practical.

It depends on your way of living. If you’re willing to use money for bitcoin investment then you can wait it out until you have good returns.

You've raised some solid supply and demand statistics that look good for any HODLers and will excite any Keynesian; but as far as your question goes, I think the question is "impractical"

The price of bitcoin is constantly moving and for the past however many years it has gone nowhere except upwards and this tells me that the price of bitcoin is indeed not practical, but not in the way you may think. I think the price of bitcoin is impractically low, because I've done some "highly reliable" rag-tag math that would suggest bitcoin could practically reach $365,000 per coin, without being "overvalued". I believe that people will begin buying, selling, trading and worrying about Satoshis a lot more frequently in the future; of course the network will need to be tweaked to realistically have transaction with Satoshi dust, but I do believe that is the direction we're heading in.

I would just expect bitcoins price to continue on it's hard upward trend until it breaks beyond the aforementioned "practical" value of a coin. Obviously we'll have dips and divets along the way, but i'm talking long-term, yearly, sustainable growth.

The problem here is you could have said the same thing at $15,000 and $10,000 and $8000 and $5000 and $3000 and $2000.

Thinking the price is too high just because it has gone up a lot doesn't mean the price is unreasonably high. It's not a company where you can measure the price off of revenue and profits and growth. Bitcoin price is purely a function of how much money is buying vs selling. As long as people continue to believe Bitcoin will at the very least be a great store of value (not even counting its other features like the main one of using to buy things which granted right now has taken a back seat to the purely store of value and wanting to make money part) then the price will continue going up and the price will not be too high. The price essentially reflects people's belief in Bitcoin, it will go up as long as people believe it has value. It is pure like that as compared to stocks that have the ups and downs of companies behind them. Right now more and more people are believing in Bitcoin so the price is exactly where it should be, and given adoption trends this current price will probably be considered incredibly undervalued within months or even weeks.

I think the current price point is extremely high. Just in my honest opinion. It might go much higher before it crashes down, but I think the current price is unreasonably high

What exactly does "practical" mean in this context? Is the current price the product of speculative hype, and could it be overshooting actual adoption rates and realistic utility? Sure. But that's the nature of markets. But every time the bitcoin price has crashed, it has recovered with higher lows and higher highs.

The price measures supply and demand over time, and the trend is clearly telling us that adoption is increasing (among other metrics like Coinbase/Blockchain users and transaction volume). Metcalfe's law says that the value of networks is exponentially proportional to its user base. So if Bitcoin's user base is increasing linearly, we can expect that over time, the price will increase exponentially. Exactly when these cycles occur is anyone's guess.


Any evidence for that statement? Anyway, there is one rule in crypto: There will always be dips/crashes. Be ready to buy them, because it's hard to find volatility this good.

When ir comes to practicality, well, I think its market value at this moment, is not practical. Its market value now is indeed expensive. It would be a better idea to wait for its value to fall and that would be the perfect and practical time to invest in Bitcoin to earn huge profit.

Different use case decide whether it's practical or not then, it's really true that no matter how much money you send, if the transaction size stays the same, the fee will also stays the same.
kinda benefits a lot for those who sending money in big amount or maybe millions of dollar, it won't be eaten up by fee like other remittance services, but for those with kinda low amount of trnsaction value.
too much suffering due too high fee. the fee could eat up to 3/4 of their money.

IF we have the same hnderstanding of practical then it might be safe to say that practicality is not applicable to the price of bitcoin today. HOwever it is predicted that with the markets ganing and thatwe have a lot of factors affecting that cryptocurrencies price is precedented

Can we have people who actually understand the question, answer it

Given that bitcoin has risen in price by 5,000,000 times since only April 2010, Is the current price practical? It went from $0.003 per BTC to now over $16,000 USD per coin. The whales and miners control 90% of the coins. Is it really practical to expect the price not to crash?

if in say practical this is very practical because the current price is very extraordinary from the year 2012 is only 2 $ and bitcoin can be brought anywhere just be practical and it does not take a long time and not complicated to exchange our currency and I am sure in the future of many people who use bitcoin services in banks that are many rules

The Practical part is not the price, but rather the use case. If people can transfer millions from one country to the next and pay

+/- $5 for the transaction, no matter what amount is send, then that is practical and economical. People are currently using

EXPENSIVE Remittance services to do this and Bitcoin is more Practical. 

I feel you. I actually know Bitcoin 8-7 years ago since a husband of a friend mines it but we didn't take it seriously. After 6 years we've met again and they were able to have a beach wedding, all expense paid because of Bitcoin. Then last year when its price was like $800 per BTC, I still didn't take it seriously. But look at it now, I was telling myself earlier that if only I got 1 BTC I'd probably have my own house now or a car. I really regret it but we need to move on as it is not too late yet. We might not be able to buy 1 BTC in an instant but we can buy a certain fraction everytime we have extra funds and wait for it to grow.

is The Current Price Of Bitcoin Practical?
More than practically because of the high cost of today many would be obsessed with achieving a BTC
scammer and hackers are increasing due to the value of btc
may not submit to the world of bitcoin and be more practical
think well to be all right

Yes cause the bitcoin now is trending in our country.

Practical in what sense ?
If you are pertaining to prices, It's always adjusted based on its adoption.
Like before. One Bitcoin has a value of less than a thousand dollars. And value keeps on increasing and relevant equivalent in bitcoin is being distributed.

As prices go up, it's possible that payment in bitcoin may be per satoshis in the future. And the twety one million bitcoin will soon be More than enough to coming massive adoption.
There is no need to worry about bitcoin not fitting the whole population.

Ok I missed the part about purchasing power in his context....l'm human for now   I do not believe for one second that BTC or any independent crypto will replace all global fiat.  Governments would chip all of us and go cashless before they allowed independent money anyway.  So fair enough on that point.

On the point that I don't want to discuss the future of fees is because all we have is speculation at this point about the LN that may or may not make a dent...if BTC can hold off its competitors in the timeframe to make something like that viable.  This is the most important issue on the table.  I have my doubts about a resolution since they've had 8 years to avoid what is happening right now and, even though I don't believe that prices will go to $50K per coin what will fees be like then for anything other than very large purchases?  All that matters is that, if the transaction times and fees that 99% of users deal in aren't solved by then, even the most braindead of the noobs will know that BTC is dead in the water and LN will be for nothing.  Everyone will have moved on to other cryptos long before said rollout of LN assuming it works.  The "relative" purchasing power for that 99% will only get worse/increasingly impractical unless they buy big ticket items.  There's too much volatility for that anyway and I don't really believe those big ticket stories.  No one likes surprises between the time that the deal is made and the contract is signed and notarized to the tune of what most earn in a year.  In this it's hard to rethink a system that is not working in the way that it was promised and can only get much worse before it has even a glimmer of hope at getting better.  All it makes me think about is how much more attractive alt-coins look with each passing day, and most people I talk to say the same thing.

With respect to futures it's very simple.  There's really no reason to go long.  Futures are supposed to be a hedge.  Therefore whenever there is a new high or a price run-up, the futures market will short.  There's really nowhere else for it to go assuming that most of those doing the shorting are doing so to lock in profits on the actual coins that they hold.  If the price runs up and the exchanges become inaccessible like they always do lately, there is no better insurance than being able to short to protect that new ATH of $20K should it actually go up that much per coin.  Before futures were available, the price could hit a high and by the time someone could sell the price might have fallen $1-2K per coin.  Not anymore.  The futures markets might actually function in the way that they were intended to function for the first time in decades...to protect profits.  Again, I see no reason to go long futures or options if I need to pay interest when I can just buy the actual coins.  So I see your point but I don't exactly agree with the logic in a real world cause and effect scenario with respect to long positions.  If anything, banks will just come in and do the same to BTC long positions as they do to gold and silver longs.

Just wanted to point out here that in terms of purchasing power ShortCoins said BTC had lost 7500% purchasing power, which obviously is the exact opposite of the truth. I was pointing that out. That has nothing to do with fees, he was just simply deriving the exact opposite conclusion of what the facts have actually been and I was explaining that.

As far as fees go, nobody is using Bitcoin to buy $10 of something because yes this year the fees have become too high for that. You don't want to talk about the future when it will be absolutely possible to spend $10 on something or even 10 cents on something, ok fine then we also won't bother talking about the types of purchases that nobody is doing right now. Also note that even though you don't want to talk about the future, the entire adoption of the technology is of course based around its future implications and uses, and of course also the idea of losing or gaining purchasing power implies a change in the future, so you can't really talk about these things without including a change in time. So you might want to rethink how you think about purchasing power and Bitcoin to make it more relevant to the discussions of the technology at hand. Anyways, people are however buying real estate and cars and other big items with Bitcoin and paying a $5 fee or something like that is far cheaper than buying those things with standard ways like credit cards or bank transfers.


And I don't think we're seeing people getting out before futures. What we just saw was a lot of people getting IN before futures, and then a very expected correction that happens after every big quick rise, regardless of the reason for the rise. Futures should be very positive for bitcoin in the long term because it leads to Wall St buying Bitcoin eventually and even if futures people tend to short more than go long, they can either not try to manipulate the market for their shorts in which case they are just gonna lose a ton of money, or they can buy into bitcoin in order to try to direct at least a little bit of market manipulation but by that very act of having to buy in they also drive the price higher, and anytime they want to short they have to drive the price higher, meanwhile the price going higher means a lot of new money outside of Wall St continues to roll in, meaning even if they can occasionally manipulate the price downwards they will be buying in higher and higher as demand among the public naturally continues to rise.