Is the price of bitcoin important? - page 6.

bitcoineverything

sr. member

Activity: 504

Merit: 250

InvestnTrade. Latest from the crypto space.

Quote from: cjmoles on May 28, 2016, 04:54:10 PM

I've noticed that there are many people who approach bitcoin as though it were some form of "get rich quick" scheme. But, in reality, the true value of bitcoin is transmitted through its utility. As long as an equal day's wage is exchanged for an equal day's productivity, the system will be sustainable. Yes, early adopters were blessed with the fortunate opportunity to be "in the right place at the right time" but that was only because they were the first to recognize and understand bitcoin's utility and that "blessing" was just a side effect of the larger picture.

If bitcoin's monetary value increased without bound, then the experiment will fail. Only when bitcoin can be exchanged with equity (labour hour for labour hour, productivity for productivity) can it be considered a success. If bitcoin is held as an investment, and bitcoin's price continued to increase at the expense of late adopters, then wealth will centralize as opposed to distribute....

So, when we're pondering the direction we should be guiding bitcoin, should we approach it as an investment opportunity or as a vehicle that opens up freer and fairer access to the global economy and the world's resources? Is bitcoin a "get rich quick with very little effort" opportunity or is it an opportunity to bring about social and political change by taking back control of our personal productivity? These are questions we should be asking ourselves....

Thoughts? Does the price of bitcoin really matter, or is bitcoin's utility where value is realized?

For me, it is both. Price also plays an important role aside from utility. It drives more awareness and people to accept and use bitcoin. If utility alone, there will be limited people to embrace the digital currency😄

ObscureBean

legendary

Activity: 1148

Merit: 1000

There is just too much risk involved with Bitcoin (in its current form) for it to be viewed as anything other than an investment. It needs to be regulated and backed by a trustworthy entity like the government (I know) before the masses will consider using it as a regular currency. If the Dollar drops in value overnight, you don't really feel it because you can still buy bread with the same amount of money in the morning but if Bitcoin drops overnight, you're screwed. If something goes wrong with the Dollar, people know who to turn to, who to blame. Nobody is really accountable if something goes wrong with Bitcoin and that's kind of scary if you're not rich and your family depends on the money you bring home.
I think that if right now Bitcoin value were to stabilize permanently, we would see a huge portion of the Bitcoin crowd suddenly lose interest and move on. Bitcoin would still probably continue to evolve but it'll be at a much much slower pace.

Cozynunu

sr. member

Activity: 336

Merit: 250

Quote from: pooya87 on May 28, 2016, 10:46:27 PM

in my opinion how much the price is, is less important than how the price changes. i mean it doesn't matter a lot if the price is $200 or $2000 what is important is that how the price reaches for example $2000

if it rises to 2K in a couple of months and because of just hype and pump it would be worthless but if it reaches 2K because of adoption and real user base increase then that is the goal and the dream.

but this will only happen over time, we can't expect it to be 100% like this today. it would take some more time and attention to reach this level.

The price of Bitcoin is really important and that is because you have to know that there are more people that is using it and you can earn some profit with it so that is nice.
But of course it is hard to know what the value will be in Bitcoin and that is the risky thing.

pedrog

legendary

Activity: 2786

Merit: 1031

Well, it is important for me otherwise I wouldn't be wasting my time with this...

Dakron

full member

Activity: 121

Merit: 100

For the bitcoin holder yes the price always important specially in traders because the profit of them will base on the price of bitcoin but for the gamblers and rich person it is not quite important to them

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

when you say "is the price important" many things come to mind regarding this. but I think the most important thing about the bitcoin price is how it changes.
if the price change is slow, close to a stable price then that is the most desirable scenario for bitcoin price. and being most volatile, with big swings every day is the least desirable.

but in my opinion it is not important what the price is for example if it is $100 or $10,000 because it would still be bitcoin and will still be offering all its features, although low prices may cause some problems with mining and profitability.

Mvaporis1961

sr. member

Activity: 364

Merit: 250

It's always important to us because from that price we can make profit. Especially to those who trading bitcoins into fiat vice versa.

xht

sr. member

Activity: 462

Merit: 250

hey you, yeah you, fuck you!!!

Actually the price of bitcoin is so important even the price has stay on the higher level it will still important to anyone know how far bitcoin has grow.

dearbesz

sr. member

Activity: 375

Merit: 250

basically the price of Bitcoins is also important to monitor,..
like everybody who like Bitcoins once the price value hike many of us will trade of course,..
but we want a stable price too, Wink

wintermeasures

sr. member

Activity: 322

Merit: 250

Quote from: cjmoles on May 28, 2016, 04:54:10 PM

I've noticed that there are many people who approach bitcoin as though it were some form of "get rich quick" scheme. But, in reality, the true value of bitcoin is transmitted through its utility. As long as an equal day's wage is exchanged for an equal day's productivity, the system will be sustainable. Yes, early adopters were blessed with the fortunate opportunity to be "in the right place at the right time" but that was only because they were the first to recognize and understand bitcoin's utility and that "blessing" was just a side effect of the larger picture.

If bitcoin's monetary value increased without bound, then the experiment will fail. Only when bitcoin can be exchanged with equity (labour hour for labour hour, productivity for productivity) can it be considered a success. If bitcoin is held as an investment, and bitcoin's price continued to increase at the expense of late adopters, then wealth will centralize as opposed to distribute....

So, when we're pondering the direction we should be guiding bitcoin, should we approach it as an investment opportunity or as a vehicle that opens up freer and fairer access to the global economy and the world's resources? Is bitcoin a "get rich quick with very little effort" opportunity or is it an opportunity to bring about social and political change by taking back control of our personal productivity? These are questions we should be asking ourselves....

Thoughts? Does the price of bitcoin really matter, or is bitcoin's utility where value is realized?

I think the price of bitcoin is a major part of the bitcoin itself. Due to the low price that peoples will not be interested investing in bitcoin. thank you

pooya87

legendary

Activity: 3472

Merit: 10611

in my opinion how much the price is, is less important than how the price changes. i mean it doesn't matter a lot if the price is $200 or $2000 what is important is that how the price reaches for example $2000

if it rises to 2K in a couple of months and because of just hype and pump it would be worthless but if it reaches 2K because of adoption and real user base increase then that is the goal and the dream.

but this will only happen over time, we can't expect it to be 100% like this today. it would take some more time and attention to reach this level.

Edwardard

hero member

Activity: 1050

Merit: 681

price of bitcoin is very much important for us. if bitcoin price goes high then we will be rich in no time. actually our total extra profit totally depends on the price. so we should not underestimate the price of bitcoin.

cjmoles

legendary

Activity: 1176

Merit: 1017

Quote from: Shinpako09 on May 28, 2016, 09:52:00 PM

Of course it is important. Would you care or even holding/earning btc if price doesnt important. The bigger its price the more important to you.

I don't really pay attention to the price as much as one would think. I place a dollar value on my work and get paid according to that value....When I spend, I shop around looking for the best deal and make the purchase....I don't wait around for the next ticker movements before making those decisions. So, the price isn't as important to me as being paid a fair wage for my services and receiving a fair portion in return for my wage. Of course the stability of the currency is important but being paid a fair wage for my labour and receiving an equitable return on my earnings is most important.

Shinpako09

legendary

Activity: 2058

Merit: 1015

Of course it is important. Would you care or even holding/earning btc if price doesnt important. The bigger its price the more important to you.

JeffBrad12

hero member

Activity: 3038

Merit: 539

Leading Crypto Sports Betting & Casino Platform

everyone can give or appreciate an item, the first is due judged based on whether the item has a price and appreciated . because in this century something which has no sale price or value would certainly be abandoned or discarded, not much different from humans, appreciated if he could have a little ability and usefulness to others. and the same goes also with bitcoin.

sempak

hero member

Activity: 1638

Merit: 505

Quote from: bitcoineverything on May 28, 2016, 08:40:53 PM

The price of bitcoin is important. Its value is one of the factors that drives people to use it. Some take bitcoin as an investment because of its ability to rise in value. Both the price and usability play a big role for bitcoin to stay in the mainstream.

there is no question in my opinion. bitcoin price determination depends on how the market acts. the higher the price of bitcoin, the greater the bitcoin users in the world market.

Ethey

member

Activity: 112

Merit: 10

i think it handles directly with the difficulty Wink

this is my suggestion

bitcoineverything

sr. member

Activity: 504

Merit: 250

InvestnTrade. Latest from the crypto space.

The price of bitcoin is important. Its value is one of the factors that drives people to use it. Some take bitcoin as an investment because of its ability to rise in value. Both the price and usability play a big role for bitcoin to stay in the mainstream.

gentlemand

legendary

Activity: 2604

Merit: 3056

Welt Am Draht

All wealth concentrates in a limited number of hands no matter how you try to set things up. That's just how the world works and Bitcoin wouldn't be any more or less immune to it.

I'm not super convinced it'll become a regular currency. It makes a lot more sense as a store of value to many. I for one would rather spend what's in my bank account than in my Bitcoin wallet just in case it goes up. If it gains some real traction then I struggle to see how it wouldn't continue spiraling upwards.

gilangIDR

legendary

Activity: 1526

Merit: 1001

yes price of bitcoin is important. if I was the one who took the decision of an investment then I was the person most responsible for all the results obtained.

Topic: Is the price of bitcoin important? - page 6. (Read 4155 times)