Topic: People think price it not important but it does matter a lot (Read 3274 times)

+1

Because I find the concept of the blockchain fascinating and, as I said, I think that it has a bright future. So, I want to keep up with the developments in this area.

I don't "love" Bitcoin. I have not invested a single cent in it and do not expect to "get rich quick" from it, either. As I said, I think that the attempt to replace money with it is a failure.

Never forget that Bitcoin is really two things - a currency and a payment method. Satoshi's paper talks very little about it as "money". It talks mostly about how to solve the double-spending problem, how you can have a payment method that does not require you to trust third parties. This is the truly revolutionary idea and this is what has a bright future - the public blockchain as a trustless payment method.

A whole economy can be built on this idea, with neither the producer, nor the consumer ever seeing a single "Bitcoin" as money. For both of them Bicoin can remain some remote, theoretical concept like IMF's SDRs. Behind the scenes, transactions can be transparently converted into cryptocoins (Bitcoin or any other altcoin - doesn't matter) and transferred via the blockchain, crossing international borders. Forcing the consumer to "buy Bitcoins" and spend them is stupid. Forcing the producer to "accept Bitcoins" and then wonder what to do with them and which way the price will go the next hour is stupid. Instead, we should concentrate on building an infrastructure based on the blockchain idea that hides all these technicalities from the transacting parties.

I remember my dad started online traveling website like expedia back in 1995 in my home country. (Not usa)
His company was the only company in the country that had online booking. He was the first to bring web online booking to the country.  I mean it was prett amazing back then he was very impressed. I still remember him buying the booking engine from germany travel company he was excited
His company closed not too long after. No one booked online. It was all thru phone and mail. Actual paper documents.
I wonder what id been like if he started that little later.
I kinda relate this to bitcoin sometimes.
Not saying bitcoin is closed or failed but mass is not ready i think. Even when we explain and explain ppl dont get it. Theyre like so its a stock? Jesus f

the real big thing about blockchain might be other than "beeing a currency", for example: http://www.proofofexistence.com/about

Price definitely is an important element, but the long term fundamentals of bitcoin is what truly matters.

Honestly. I own decent amount of coins myself and i love the technology. Heck i even read how the protocol works. I enjoyed it.
But im coming to a conclusion that ive overrated bitcoin myself. Or maybe the world isnt ready..too early?
Overall i think it was/is a good experiment..

if price keep rising and dropping then big bussiness won't implement this payment method
for the future of bitcoin stability of bitcoin price is important
people want a stable currency

the value of the tecnology has nothing to do with the price, so I disagree......The valuation was nice to make Bitcoin known all over the world, but as we all know it actualy makes adoption for merciants almost impossible.

It's not about having a higher price, its about having a fixed price whatever that is for us to make a mark on world economy.

Well if the price of bitcoin is low enough (or not high enough) then people will not invest their time and resources in the development of bitcoin, and people will have little reason to adopt bitcoin or for merchants to accept bitcoin

I am talking actualy about the tecnology, so yes, the blockchain. maybe I got the whole topic wrong and was offtopic.

First of all, price always matters in capitalism. I dont know why ypud say something like that. Would u not consider the PRICE when u someday finally purchase your OWN btc??
If youre talking about blockchain i agree.
You also said that transaction volume increased and so is usage. You know that bots trading also count as transaction volume right? We're not talking about daily human life transaction sir.
Also usage, whered u get that idea that usage has increased? Because expedia and dell accepts it?
I saw a post where someone at newegg said they got only few btc payments in months.
I thought we this community all knew about these. Apparently not

some people don't know the diference between "price doesn't matter for the future of Bitcoin" and "price doesn't matter for the Bitcoin holder"

There's plenty of alternative crypto that provides pretty accurate peg to USD. BitUSD or NuBits for example. So when buying things with these, you don't have to worry about fluctuation in currency value.

^ Yup.

People have to remember price "in relation to" kinda thing, regardless of BTC fluctuation itself.

This community is full of almost retarded ppl.
Ok.  Lets say u buy a chair at overstock for 320$ =1 btc.
Next week price rise to 1btc = 640 and i pay 0.5btc for the same product.
Im pretty sure it doesnt matter to u guys.

Oh come on guys - of course the price fuckin matters - whether you measure it in USD, YEN, barrels of oil or kilos of Atlantic mackerel.

If I pay £200 today for 1 bit coin and then come to spend my btc tomorrow - and its only worth £195 (plus fees of course i.e. effectively £193) -  then of course it matters.

Unless we are all just holding and holding and holding .....

And as we hold, hold and hold the £195 becomes £194, £193 ....

Lets at least say it for how it is.

It didn't matter like everyone said but when you are stupid enough to invest all your life savings it matters a lot lol
Fluctuation of tens and twenties of dollars will give a heart bump

Why should price be any matter. The important thing is to have a fixed price whatever the price is

The problem with that is if you are caught on the wrong foot during sharp price movements, all your profits could get wiped out.
People thought they were buying low when they bought at $400.