Real Bitcoin Value - page 3. | Bitcointalksearch.org

Herbert2020

legendary

Activity: 1946

Merit: 1137

Quote from: Don Pedro Dinero on September 22, 2017, 01:00:33 AM

First of all, link to the article, please? @Herbert2020 is saying you haven't understood it well. So put the link and we can see for ourselves.

apparently you have to log in or something to read the full article: https://www.wsj.com/articles/bitcoins-wild-ride-shows-the-truth-it-is-probably-worth-zero-1505760623

but here is the break down: https://www.cryptocoinsnews.com/wall-street-journal-argues-bitcoin-is-probably-worth-zero-joins-obituary-list/

the article is already added to the list of obituaries: https://99bitcoins.com/bitcoinobituaries/

BingoDog

hero member

Activity: 658

Merit: 505

How could bitcoin be depending on gold? That makes no sense at all. Bitcoin is decentralized and it's not depending on other currencies, assets or goods, it's depending on the demand and supply and relations on the market. So many articles with false or half true informations appear everywhere and people trust everything they read without any criteria.

Don Pedro Dinero

legendary

Activity: 1358

Merit: 1565

The first decentralized crypto betting platform

First of all, link to the article, please? @Herbert2020 is saying you haven't understood it well. So put the link and we can see for ourselves.

Second, what tends to zero is the price of dollar. As time goes by, it gets more and more devaluated so the article is doing the comparison the other way around. In this world, things tend to have the price people are willing to pay for them. Bitcoin is scarce and has an increasing demand, therefore it has a high, increasing, price (with dips, of course). Dollar is more abundant as the FED creates more of it, and, although it has a high demand, that demand doesn’t increase. Therefore, as other fiat currencies, tends to zero in the long term.

Herbert2020

legendary

Activity: 1946

Merit: 1137

Quote from: nice.duck on September 22, 2017, 12:07:23 AM

The WSJournal article says if BTC is to change dollar, its current value is 0. Plus the ways of possible transactions with BTC is very limited and it requires spending lots of energy (who can explain the part with the energy spending?).
On the other hand if in future BTC would depend on gold, its value will be stable and it won't be opened to any fluctuations at all.

What do you guys think about that?

that Wall Street Journal article never said these things. you just made a conclusion that was the last thing that article was meant to say. the article was mostly attacking bitcoin and saying it is useless and a waste of energy. the author of that article did not even understand how bitcoin works. which means the article did not worth even wasting your time to read.

and also i should add, just because other things depend on something (like them depending on Gold) does not mean that is the only way things can have value. the real value comes from supply and demand. and the demand for bitcoin is there and that means it has value. the value being above $3000 each and rising with the rising demand.

rcoins0720

full member

Activity: 253

Merit: 100

I think the author who wrote or state that didn't search and seek for the BTC the current value as of now is above 3k$ so what is that

and also the BTC price will not be equivalent to 0 at all because of the investors who are using them like Bill Gates

and the BTC is unstoppable

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

Bitcoin mining use a lot of electricity to power the ASIC chips needed to hash the complex calculations to mine Bitcoins. I recently saw a article where someone mentioned that mining a single Bitcoin in the USA, cost about $1000. < combined cost >

Bitcoin's price is also not linked to any commodity like gold, because it is simply based on supply and demand in open markets. We do not want to be linked to any other commodity, because they are being manipulated by governments and cartels with lots of money.

The volatility will improve, once Bitcoin is distributed more evenly between more people. ^smile^

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

WSJ is basically full of shit. They say bitcoin's value is $0? LOL. People currently pay $3600 for a BTC, and that's simply because of the supply vs demand. Whereas the USD is the one that actually doesn't cost shit; it's just a piece of paper. People only use it because the government told them to and USD only has value because the government told us so. Whereas in bitcoin, the people or the markets to be specific is the one to decide on what it's value is.

WSJ in general is known to make articles that are out of context and articles that are obviously biased. I personally wouldn't trust their articles.

I don't know what you mean by transactions with BTC is "very limited" and "energy spending". Do you mind expounding your statements?

Wind_FURY

legendary

Activity: 2898

Merit: 1823

Quote from: mekar sari on September 22, 2017, 12:12:12 AM

Quote from: nice.duck on September 22, 2017, 12:07:23 AM

The WSJournal article says if BTC is to change dollar, its current value is 0. Plus the ways of possible transactions with BTC is very limited and it requires spending lots of energy (who can explain the part with the energy spending?).
On the other hand if in future BTC would depend on gold, its value will be stable and it won't be opened to any fluctuations at all.

What do you guys think about that?

The value is $ 3k + why they say the value is $ 0, and BTC is not dependent on anything gold or anything else, BTC will be stable if everyone is using bitcoin

Yes, the market says what the value is. If a trader is willing to buy it from me for $4000 per Bitcoin right now then that is its price. That person writes for the Wall Street Journal, he should know more than others that the Bitcoin market is dictated by supply and demand.

mekar sari

hero member

Activity: 1302

Merit: 501

Sovryn - Brings DeFi to Bitcoin

Quote from: nice.duck on September 22, 2017, 12:07:23 AM

The WSJournal article says if BTC is to change dollar, its current value is 0. Plus the ways of possible transactions with BTC is very limited and it requires spending lots of energy (who can explain the part with the energy spending?).
On the other hand if in future BTC would depend on gold, its value will be stable and it won't be opened to any fluctuations at all.

What do you guys think about that?

The value is $ 3k + why they say the value is $ 0, and BTC is not dependent on anything gold or anything else, BTC will be stable if everyone is using bitcoin

nice.duck

newbie

Activity: 24

Merit: 0

The WSJournal article says if BTC is to change dollar, its current value is 0. Plus the ways of possible transactions with BTC is very limited and it requires spending lots of energy (who can explain the part with the energy spending?).
On the other hand if in future BTC would depend on gold, its value will be stable and it won't be opened to any fluctuations at all.

What do you guys think about that?

Topic: Real Bitcoin Value - page 3. (Read 1173 times)