To me the price isn't that important as 80% of my Bitcoin holdings are profit from trading.
I buy low and sell high, then cashout my initial investment to secure that. The profits in BTC will be sent to my cold storage wallets.
But the reality is that probably 90% of the people are in Bitcoin to make money.
Topic: People think price it not important but it does matter a lot - page 2. (Read 3274 times)
As long as BTC keeps going down relative to fiat, then you need to spend BTC the instant you get it. So why don't you just spend fiat directly?
Yeah, and as long as BTC keeps going up relative to fiat, then you need to hoard the BTC you get. So why don't you just spend fiat instead?
Bitcoin-as-money is a failure. The real innovation that has a bright future is the-blockchain-as-a-trustless-payment-method.
Why are you even here?
What you just said......is not from someone who loves Bitcoin as a concept but thought he might get rich quick.
He actualy said that he believes in the concept of the blockchain. You using the verb "love" looks very strange. perhaps you "love" Bitcoin as a currency because you want to get rich yourself? just asking
As long as BTC keeps going down relative to fiat, then you need to spend BTC the instant you get it. So why don't you just spend fiat directly?
Yeah, and as long as BTC keeps going up relative to fiat, then you need to hoard the BTC you get. So why don't you just spend fiat instead?
Bitcoin-as-money is a failure. The real innovation that has a bright future is the-blockchain-as-a-trustless-payment-method.
Why are you even here?
What you just said......is not from someone who loves Bitcoin as a concept but thought he might get rich quick.
very true, I wish there was some kind of share which would make investing in blockchain as a pure tecnology possible
As long as BTC keeps going down relative to fiat, then you need to spend BTC the instant you get it. So why don't you just spend fiat directly?
Yeah, and as long as BTC keeps going up relative to fiat, then you need to hoard the BTC you get. So why don't you just spend fiat instead?
Bitcoin-as-money is a failure. The real innovation that has a bright future is the-blockchain-as-a-trustless-payment-method.
Why are you even here?
What you just said......is not from someone who loves Bitcoin as a concept but thought he might get rich quick.
As long as BTC keeps going down relative to fiat, then you need to spend BTC the instant you get it. So why don't you just spend fiat directly?
Yeah, and as long as BTC keeps going up relative to fiat, then you need to hoard the BTC you get. So why don't you just spend fiat instead?
Bitcoin-as-money is a failure. The real innovation that has a bright future is the-blockchain-as-a-trustless-payment-method.
Price matters to everyone but what bitcoin stands for and the work that is behind it is the most important. It is still a new idea.
Right on.
A new idea that is still developing at that...
I don't have a problem buying btc for the sole purpose of spending right away... particularly if it's from a company that is inclined to hodl (like overstock).
Does anyone have a list of companies that don't immediately dump all coins?
Does anyone have a list of companies that don't immediately dump all coins?
Price matters to everyone but what bitcoin stands for and the work that is behind it is the most important. It is still a new idea.
Price is important depending on the amount of currency you have.
If I have a ten million dollar bank account, I don't care if a loaf of bread is $2 or $10.
It's all relative.
If I have a ten million dollar bank account, I don't care if a loaf of bread is $2 or $10.
It's all relative.
Application is Bitcoin foundation. The price is a matter of course.
The first step is understanding bitcoin.
Price comes later on down the road.
It is a process of coin switching from weak hands to strong hands is all.
Price comes later on down the road.
It is a process of coin switching from weak hands to strong hands is all.
Understanding Bitcoin is what matters.
As long as BTC keeps going down relative to fiat, then you need to spend BTC the instant you get it.
you don't have to spend the BTC. you can also "lock" the price (hedging) with futures
Could you explain that to my Grandma please ? She is called Jo (Joanna) - and is very average.
Grandma isn't even able to learn to buy BTC....that's the big problem of BTC...and daddy doesn't want to, even if he could learn it, because there is no "oficial protection"
This is something which is holding it back.
But, This is why a lot of companies need to offer a discount when paying with Bitcoin to give an incentive for buying BTC & spending straight away it would have to be a worthwhile discount though.
The migration to a BTC only economy (even if it would ever happen) will not be instantaneous, you can't just wake up one day and everything is priced in bitcoins.
You need to take in consideration the exchange rate and then you have the following problem: If a BTC = 100 USD and there can only be max 21 million BTC (a lot of them already lost anyway), you can not move more than 2.1 bln. USD/transaction (even if you use all BTC that (will ever) exist), so how the can you do transactions that are larger than this amount .
As for current situation, only companies that deal only in BTC (including paying employees&taxes in BTC) would be able to price their products solely in bitcoins, so that is not going to happen soon.
Also bitcoin adoption for consumer purposes (e.g. buying stuff with btc) will only happen if there will be important discounts offered to buyers that uses BTC (vs. buyers using fiat). But that is either not going to happen soon as the lower transaction fees that you win as a seller (vs. creditcard payment) are then overwhelmed by the fees that the buyer need to pay in order to get bitcoins from fiat and tne ones that you need to pay in order to convert btc back to fiat (so in the end buyer ends up paying more in BTC than equivalent in fiat).
You need to take in consideration the exchange rate and then you have the following problem: If a BTC = 100 USD and there can only be max 21 million BTC (a lot of them already lost anyway), you can not move more than 2.1 bln. USD/transaction (even if you use all BTC that (will ever) exist), so how the can you do transactions that are larger than this amount .
As for current situation, only companies that deal only in BTC (including paying employees&taxes in BTC) would be able to price their products solely in bitcoins, so that is not going to happen soon.
Also bitcoin adoption for consumer purposes (e.g. buying stuff with btc) will only happen if there will be important discounts offered to buyers that uses BTC (vs. buyers using fiat). But that is either not going to happen soon as the lower transaction fees that you win as a seller (vs. creditcard payment) are then overwhelmed by the fees that the buyer need to pay in order to get bitcoins from fiat and tne ones that you need to pay in order to convert btc back to fiat (so in the end buyer ends up paying more in BTC than equivalent in fiat).
As long as BTC keeps going down relative to fiat, then you need to spend BTC the instant you get it.
you don't have to spend the BTC. you can also "lock" the price (hedging) with futures
Sure, if you want all your BTC to be stolen because you sent it to a private key not under your exclusive control.
actualy, you only need to send 1/10 (in case of okcoin) because of 10x leverage (796 has even 20x). but i get your point.
As long as BTC keeps going down relative to fiat, then you need to spend BTC the instant you get it.
you don't have to spend the BTC. you can also "lock" the price (hedging) with futures
Sure, if you want all your BTC to be stolen because you sent it to a private key not under your exclusive control.
As long as BTC keeps going down relative to fiat, then you need to spend BTC the instant you get it.
you don't have to spend the BTC. you can also "lock" the price (hedging) with futures
Could you explain that to my Grandma please ? She is called Jo (Joanna) - and is very average.
Grandma isn't even able to learn to buy BTC....that's the big problem of BTC...and daddy doesn't want to, even if he could learn it, because there is no "oficial protection"
As long as BTC keeps going down relative to fiat, then you need to spend BTC the instant you get it.
you don't have to spend the BTC. you can also "lock" the price (hedging) with futures
Could you explain that to my Grandma please ? She is called Jo (Joanna) - and is very average.
As long as BTC keeps going down relative to fiat, then you need to spend BTC the instant you get it.
you don't have to spend the BTC. you can also "lock" the price (hedging) with futures
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