Topic: Let's Control the Future Value of Bitcoin - page 6. (Read 4030 times)

Its a good thing to do promoting bitcoin to make it worth more in the future but controling its value its not that easy because if everyone new that bitcoin will worth more in the future all of whom uses bitcoin will buy and keep it for the future so it will rise for a moment very fast but there will be no more spending and that may decrease their value

I don't think there's an urgency to do anything to artificially raise the fiat valuation of Bitcoin. The things you are suggesting are already happening the natural way. There's no need to speed up the process by aggressively marketing Bitcoin to the general population.

In fact I think that too fast growth could have bad consequences, since the network and extended ecosystem may not be ready to cope with it. It's bad to induce exaggerated expectations that might fail in face of reality.

I also have very strong objections against your "education" approach, since it solely focuses on speculative value appreciation and recommends using a service (Coinbase) that betrays the core principles of Bitcoin: Full private ownership of free decentralized and sound money. Bitcoin was never meant to be Paypal 2.0. We don't need that kind of people here.

ya.ya.yo!

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.

You have proposed the interesting strategy here. But still, is there really the way that we could control the value of Bitcoin? But I fully agree that the worst thing for Bitcoin is to sit idle.

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.