Topic: Let's Control the Future Value of Bitcoin - page 4. (Read 4030 times)

I think they just want the bitcoin price to rise slowly, not so volatile so that more people will use it as a currency.

The recent economic events that have impacted the trade value of bitcoin are irrelevant. Brexit? New president? Halving? None of these events actually matter in determining the value of bitcoin since they are just headlines. The market cap of Bitcoin is only about $10 billion USD. That is as much money as a mid-level U.S. finance, insurance, or real estate company manages. In other words, bitcoin is not even on the financial map, which is actually a good thing!

Bitcoin needs a catalyst. That catalyst is you and me. So, we need to do two things:

1. Spend bitcoin: Holding bitcoin is an awesome passive investment strategy, especially for those who purchased sub $250. However, taking an active approach will help stabilize at $1000, which is honestly what everyone is looking forward to. If early adopters hold the majority of bitcoin then no one else can use it whether they want to or not. This means it would not be of value in the long term since there is no established barometer of what it could potentially be worth in exchange of consumer good and services. This leads us to the next point of getting late adopters to understand why and how to use bitcoin as a method of payment.

2. Educate others about bitcoin: When I explain bitcoin to friends and family I refer to it as "internet money". They ask, "Like Paypal?" and I say, "Very similar, but more like buying early shares of Apple or IBM because it appreciates at a higher rate than the dollar." This has been a useful conversation starter and influenced a few colleagues enough to at least open up a Coinbase account.

There is no need for more (or less) regulation as the status quo of decentralized currency is now a proven concept.

There is this fear that if I spend all the bitcoins with me, I have to buy some more with fiat. The price keeps rising and I have to pay more for 1btc and then pay the trading fee as well... so why not just keep what I have?

Transactions are needed to create bitcoins during the mining process, right?
How could new coins be created if no transactions are made?

The recent economic events that have impacted the trade value of bitcoin are irrelevant. Brexit? New president? Halving? None of these events actually matter in determining the value of bitcoin since they are just headlines. The market cap of Bitcoin is only about $10 billion USD. That is as much money as a mid-level U.S. finance, insurance, or real estate company manages. In other words, bitcoin is not even on the financial map, which is actually a good thing!

Bitcoin needs a catalyst. That catalyst is you and me. So, we need to do two things:

1. Spend bitcoin: Holding bitcoin is an awesome passive investment strategy, especially for those who purchased sub $250. However, taking an active approach will help stabilize at $1000, which is honestly what everyone is looking forward to. If early adopters hold the majority of bitcoin then no one else can use it whether they want to or not. This means it would not be of value in the long term since there is no established barometer of what it could potentially be worth in exchange of consumer good and services. This leads us to the next point of getting late adopters to understand why and how to use bitcoin as a method of payment.

2. Educate others about bitcoin: When I explain bitcoin to friends and family I refer to it as "internet money". They ask, "Like Paypal?" and I say, "Very similar, but more like buying early shares of Apple or IBM because it appreciates at a higher rate than the dollar." This has been a useful conversation starter and influenced a few colleagues enough to at least open up a Coinbase account.

There is no need for more (or less) regulation as the status quo of decentralized currency is now a proven concept.

I am holding my bitcoins, and many people are doing that too. However, I can't see how we can rise the price doing this. Just think about it: there are people who got hundreds, if not thousands of Bitcoins. I can't change the Bitcoin price having just 1 Bitcoin in my account - that's an infirm sum. They are the ones who can change the price.

The recent economic events that have impacted the trade value of bitcoin are irrelevant. Brexit? New president? Halving? None of these events actually matter in determining the value of bitcoin since they are just headlines. The market cap of Bitcoin is only about $10 billion USD. That is as much money as a mid-level U.S. finance, insurance, or real estate company manages. In other words, bitcoin is not even on the financial map, which is actually a good thing!

Bitcoin needs a catalyst. That catalyst is you and me. So, we need to do two things:

1. Spend bitcoin: Holding bitcoin is an awesome passive investment strategy, especially for those who purchased sub $250. However, taking an active approach will help stabilize at $1000, which is honestly what everyone is looking forward to. If early adopters hold the majority of bitcoin then no one else can use it whether they want to or not. This means it would not be of value in the long term since there is no established barometer of what it could potentially be worth in exchange of consumer good and services. This leads us to the next point of getting late adopters to understand why and how to use bitcoin as a method of payment.

2. Educate others about bitcoin: When I explain bitcoin to friends and family I refer to it as "internet money". They ask, "Like Paypal?" and I say, "Very similar, but more like buying early shares of Apple or IBM because it appreciates at a higher rate than the dollar." This has been a useful conversation starter and influenced a few colleagues enough to at least open up a Coinbase account.

There is no need for more (or less) regulation as the status quo of decentralized currency is now a proven concept.

I am holding my bitcoins, and many people are doing that too. However, I can't see how we can rise the price doing this. Just think about it: there are people who got hundreds, if not thousands of Bitcoins. I can't change the Bitcoin price having just 1 Bitcoin in my account - that's an infirm sum. They are the ones who can change the price.

Showing steady price increases to those who may be interested in using bitcoin help validate its purpose and legitimacy.

I do agreed on this topic to control the future value of bitcoin, It is because if don't control it, the value might gonna be decrease and if that happen the users of bitcoins will also be decrease until such time goes down and down there will be no more bitcoin user, But if we control the value more and more there will be no reason to make bitcoin goes down.

Such cooperation of everbody holding and no one spending/selling so there are no transactions anymore is never going to happen. Afterall people have different reasons why they own Bitcoin and when they spend/sell it.

You have only mentioned that people need to hold the bitcoins and if they will jsut hold their bitcoins, there will be no transactions and once there are no transactions, there will be no demand  created.

To raise the price everyone would theoretically just need to hold their coins but unfortunately the chances of doing that are slim.  The only way we can raise price is by buying and holding plus new investors.