popularity of bitcoin dictates demand, means more profit - page 18.

darthmaul

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Quote from: gambitcoin53 on November 29, 2017, 04:43:19 AM

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing. what do you think affects the price increase of bitcoin today?

I think its the greed of earning more money, new enthusiastic crypto investors and the old investors getting millionaires is what driving the bitcoin prices crazy now a days. I am always speculator who says that whenever there is some bad or good event is happening in the crypto world then there is always dependent bad or good chain of event curing. For example, there is fork, then everyone will think "wow we are gonna get free forked coin" and thus few starts investing money into bitcoin, the price starts rising and thus people start buying it crazy and it starts chain of buying. The similar thing happens when reverse is happening, the chain of panic sell! Now a days bitcoin is sky rocketing because of new people, merchants and miners jumping into it. Now everyone trust bitcoin and its ability to rise no matter what happens in the world and no matter what who bans it. This way we get financial revolution and hence more and more market.

Ewox

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Ever since bitcoin had bee popular, the demand went high as well. A lot of positive feedbacks and reviews had been circulating around and that leads to greater demands in the market. And also because it is trending too, most investors now of bitcoin are very young so whatever they hear or read from the social medias they are most likely drawn to it.

matuson

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Quote from: Ilegendph on December 05, 2017, 09:55:05 AM

Quote from: Granxis on December 03, 2017, 07:50:44 PM

As Bitcoin spreads more people, we can hear user errors, because new users will try to load user errors they have made into Bitcoin. An increase in Bitcoin's popularity may lead to an increase in price, but there will be no increase in quality.

Actually an increase in bitcoin's popularity leads to decrease in quality because as of now people tend to buy bitcoins and hold it while few percentage of investors will mine bitcoin. In this kind of scenario, the outcome would be more unconfirmed transactions per day cause by limited miners and increasing demand in transactions.

When people buy bitcoins in order to keep the coins the number of transactions is reduced. Imagine the number of transactions if bitcoin will be used in the trade. It seems to me that you need to prepare for that number of transactions will increase significantly. Need to increase the block size. Not do without it.

dulce dd121990

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Well obviously, if the bitcoin is more popular and the demands is increasing it means the price of bitcoin will get higher, then it obviously means more money and that is more profit for me.

chickenado

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Quote from: gambitcoin53 on November 29, 2017, 04:43:19 AM

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing. what do you think affects the price increase of bitcoin today?
[/quote
Widespread of bitcoin and other cryptocurrencies cause by media,countries that legalizes bitcoin with huge population or being advertise on television in different parts of the world had helped bitcoins popularity that really affects the fluctuation of bitcoins price today in which more and more people get interested to invest in bitcoin hoping that someday it will profit.It already reach to $12k for now and hope that it would continue to pump until the end of this year and the following year as well.

krauzzer02

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Quote from: di.ako.toh on November 29, 2017, 10:06:28 AM

I think i should agree with that popularity dictates demand. As people gets curious, the more they wanted to know, the greater chance they get into Bitcoin world results to greater demands that leads to higher Bitcoin price which means profit to all investors.

It doesn't mean it is popular the more demand it will get to the majority of people, it is more on positive and productive demand that makes people drive to buy and invest in bitcoin as some of the people didn't really understand what bitcoin really is, they know it is digital currency of just like a stock market trading that's why when bitcoin decreases its price for up to 20 - 30% (which is normal thing to a cryptocurrency) they lose some money then triggers them to accuse btc as a scam, well they are just the minority of individuals who are just hyped and newbie to this world the trend and the knowldge about btc are spreading like a virus to the world all because they want to get in and ride the rocket.

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Quote from: Granxis on December 03, 2017, 07:50:44 PM

As Bitcoin spreads more people, we can hear user errors, because new users will try to load user errors they have made into Bitcoin. An increase in Bitcoin's popularity may lead to an increase in price, but there will be no increase in quality.

Actually an increase in bitcoin's popularity leads to decrease in quality because as of now people tend to buy bitcoins and hold it while few percentage of investors will mine bitcoin. In this kind of scenario, the outcome would be more unconfirmed transactions per day cause by limited miners and increasing demand in transactions.

aardvark15

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Quote from: gambitcoin53 on November 29, 2017, 04:43:19 AM

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing. what do you think affects the price increase of bitcoin today?

Bitcoin has had a huge advantage by being the first successful cryptocurrency. It is recognized more worldwide than an ofvthe altcoins. It is the defacto face of cryptocurrencies. For this reason and because it has survived longer, it will hold value. The rest of the cryptocurrencies have to compete with each other to survive and find their place in this economy. Most people buy Bitcoins first before expanding to other altcoins.

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Quote from: gambitcoin53 on November 29, 2017, 04:43:19 AM

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing. what do you think affects the price increase of bitcoin today?

Well I agree with you when something reached to the high price so its mean demand of that thing is very high and that is something going to happen with bitcoin now a days because bitcoin is one the favorite currency in market and its price is also very high and transition are very easy and fast these qualities bitcoin take it to the sky and next year is one the good year for bitcoin it's price is going more high then before.

SixOfFive

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I think reason of growth is....Mostly trend...supply being limited & demand is increasing vigorously. People take Bitcoin as a investment instrument which gives much better return than any investment scheme that too without any efforts. As Demand is inc. price is growing. This attract new users to invest in it that leads to inc its market cap then again price rises so its just a trend going on...

Granxis

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As Bitcoin spreads more people, we can hear user errors, because new users will try to load user errors they have made into Bitcoin. An increase in Bitcoin's popularity may lead to an increase in price, but there will be no increase in quality.

olubams

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Quote from: gambitcoin53 on November 29, 2017, 04:43:19 AM

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing. what do you think affects the price increase of bitcoin today?

.

I personally would say its a combination of several things happening and not only about popularity because bitcoin is already popular with lots of people knowing about it already but they choose not to act or the percentage that act in my opinion, is not enough to command the increase in price that is being witnessed. In addition to that, a lot of current players are putting in more money in areas of workable ICO projects and the forks that is happening every month.

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Quote from: gambitcoin53 on November 29, 2017, 04:43:19 AM

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing. what do you think affects the price increase of bitcoin today?

Well you already answered your own question by saying that more demand increases the price?? I guess you must mean what effects demand and I think the main increases in demand right now are caused by the futures markets that are opening up as well as the increased level of interest in bitcoin due to widespread news of 10k being breached.

awawo

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Bitcoin demand is dictated by the media and mostly by speculations people are rushing to buy bitcoin now because of the news that bitcoin price is now above $11000 and they action will result in the steady increase in price. Bitcoin in recent time has been in the news for it ability to sustain steady market rise and that has attracted new investors into the business, so at that bitcoin price will continue to rise.

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Quote from: gambitcoin53 on November 29, 2017, 04:43:19 AM

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing. what do you think affects the price increase of bitcoin today?

I would be more worried not about high price but about rising popularity ob bitcoin which will for sure bring some 'threats' to current bitcoin position.
Of course, I am talking about bitcoin legalization and I am sure that governments and tax agencies are monitoring the situation, and will enter the scene at any time now.
For now, bitcoin is kinda situated in grey area - you own BTC you sell BTC, trade it and you technically don't need to pay tax if you don't want to. I expect that it will change soon.

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It's natural that high popularity of Bitcoin also increases the demand. And popularity is determined by price, that is why we see so increased interest in Bitcoin lately.
But what I ask is if the high demand also means the best for Bitcoin, is this a progress or it can bring some problems along? Is Bitcoin technology ready for such sudden increase of users and could the issues that emerge because of that be overcome?

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I'm new on this world and i think the same thing, if we have more people interested on bitcoin we will have more demand, if we have more demand with the same offer, the price rise rise and rise, the only thing that can "kill" the bitcoind is law and the ban of bitcoin and crypto on some Nation.

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Quote from: gambitcoin53 on November 29, 2017, 04:43:19 AM

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing. what do you think affects the price increase of bitcoin today?

Yeah, this has become a circular trend! People turning to Bitcoin because it's price is increasing, which in turn increasing demand, demand raise buy walls, buy walls raise price, which in turn again increase demand!
So this is what actually happening right now!

kapipindot

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Advancing technology plays a role on bitcoin popularity and affecting its value. As years passed, new technologies emerge and human tend to utilize it in order to have and efficient life. In the past years, money was then in the form of carved metal coins, then paper money and then came credit cards and atm cards, now its the bitcoin. Imagine carrying different types of currency your pocket worth 1 million as opposed to that same amount accessed thru your phone.

Idrisu

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Quote from: gambitcoin53 on November 29, 2017, 04:43:19 AM

in my opinion, this is what happening right now as the trend of bitcoin price has been sky rocketing. what do you think affects the price increase of bitcoin today?

The demand is what is driving the price of bitcoin and the high the demand the high the price. This is the law of demand in practical and this law is also law of economic! Many people are becoming aware of bitcoin and others cryptocurrencies and since bitcoin provide many advantages that others form of currency could not provide many people like to use it. I think we still have a long way to go since blockchain technology is still at the developmental stage in the area of acceptability and we should hold what which we have as there is no end to this bullish momentum.

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