I have a strong distaste for discussions about "what gives bitcoin value?". Bitcoin has a currency equivalent at any one point in time equivalent to the price someone is willing to pay for it. That's it.
Usually, the next question that follows is "how is that price determined?". The answer to this is that the price is the equilibrium of several factors"
1. the current level of currency flow into and out of BTC
2. the percentage of miners that are presently required to sell coins to meet expenses
3. the current level of consumer demand for bitcoin services, such as retail or gambling
4. the current demand or lack there of for alt coins, which due to mostly being denominated by BTC on most exchanges makes them function as a natural derivatives market for fiat/BTC.
If you want to achieve $10k/BTC then we're going to have to see a major increase in currency flows into BTC. This could be aided any other factor which mitigates trading BTC for cash.
I think following halving, we will see an uptick in the $ trade price. However, I think it will come with many collapsed mining operations, especially in china.
Topic: The inevitable is upon us... (Read 3561 times)
Just before the halving, I think we can see a new atm high, and to be more specific, I would say a $2,000. I am not saying Bitcoin would stabilize at this price, but it can sure touch it.
before the halving is when everyone will be stockpiling their coins especially miners I'm sure we can see 5k hitting too as we haven't really had a bubble in a while lol
Nope, not since they killed Willy
I hope this guy actually visit karples back in japan, and eat a pizza right in front of him.
I remember this dude was in the rain showing up and while karples just walked by him with his starbucks cup and acted nothing happen.
People seem to keep hoping for the currency to appreciate in value when the USD is potentially on a run that repeats the prosperity of the 1980s. That's not going to happen.
At the same time, why does BTC even need to trade significantly higher than its current price. If it wants to function as a currency, why should it be dislocated with such magnitude from other currencies?
At the same time, why does BTC even need to trade significantly higher than its current price. If it wants to function as a currency, why should it be dislocated with such magnitude from other currencies?
THREE WORD ANSWER: SUPPLY PLUS DEMAND
Thats true, but where is the new supply of demand going to come from is the real question.
I think most people overlook on the whole aspect of where the new demand is coming from, unless the volume comes from like china which has banned bitcoin last time I checked.
Check again.
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country#China
People seem to keep hoping for the currency to appreciate in value when the USD is potentially on a run that repeats the prosperity of the 1980s. That's not going to happen.
At the same time, why does BTC even need to trade significantly higher than its current price. If it wants to function as a currency, why should it be dislocated with such magnitude from other currencies?
At the same time, why does BTC even need to trade significantly higher than its current price. If it wants to function as a currency, why should it be dislocated with such magnitude from other currencies?
THREE WORD ANSWER: SUPPLY PLUS DEMAND
Thats true, but where is the new supply of demand going to come from is the real question.
I think most people overlook on the whole aspect of where the new demand is coming from, unless the volume comes from like china which has banned bitcoin last time I checked.
People seem to keep hoping for the currency to appreciate in value when the USD is potentially on a run that repeats the prosperity of the 1980s. That's not going to happen.
At the same time, why does BTC even need to trade significantly higher than its current price. If it wants to function as a currency, why should it be dislocated with such magnitude from other currencies?
At the same time, why does BTC even need to trade significantly higher than its current price. If it wants to function as a currency, why should it be dislocated with such magnitude from other currencies?
THREE WORD ANSWER: SUPPLY PLUS DEMAND
Just before the halving, I think we can see a new atm high, and to be more specific, I would say a $2,000. I am not saying Bitcoin would stabilize at this price, but it can sure touch it.
before the halving is when everyone will be stockpiling their coins especially miners I'm sure we can see 5k hitting too as we haven't really had a bubble in a while lol
Nope, not since they killed Willy
Just before the halving, I think we can see a new atm high, and to be more specific, I would say a $2,000. I am not saying Bitcoin would stabilize at this price, but it can sure touch it.
before the halving is when everyone will be stockpiling their coins especially miners I'm sure we can see 5k hitting too as we haven't really had a bubble in a while lol
Or maybe since everybody expects this it won't happen as nobody will pump it up, just hold and wait
The best thing to do for now is indeed to hold and wait, but there will be a time when we will have a huge pump sooner or later, and you'll have to decide: Do I try to profit from this pump or do I hold thought the entire thing?
If you hold through the pump without selling, im amusing you would do so because you are a long term 10+ year investor and you dont want to lose your position.
Just before the halving, I think we can see a new atm high, and to be more specific, I would say a $2,000. I am not saying Bitcoin would stabilize at this price, but it can sure touch it.
before the halving is when everyone will be stockpiling their coins especially miners I'm sure we can see 5k hitting too as we haven't really had a bubble in a while lol
Or maybe since everybody expects this it won't happen as nobody will pump it up, just hold and wait
Just before the halving, I think we can see a new atm high, and to be more specific, I would say a $2,000. I am not saying Bitcoin would stabilize at this price, but it can sure touch it.
before the halving is when everyone will be stockpiling their coins especially miners I'm sure we can see 5k hitting too as we haven't really had a bubble in a while lol
Why do you want it to rise to 10'000$/BTC?
.....To buy more things.... are you stupid?
Why do you want it to rise to 10'000$/BTC?
.....To buy more things.... are you stupid?
Just before the halving, I think we can see a new atm high, and to be more specific, I would say a $2,000. I am not saying Bitcoin would stabilize at this price, but it can sure touch it.
I'd like to think that I never have to convert any BTC to cash (though I do find it interesting to compare it with USD).
Perhaps the use case is what will decide the price (whether for average purchases, gold alternative, or some other case we haven't seen yet). Depending on what it becomes known for could add or remove several zeros to the price.
For the shorter term I think around $300 is all I would expect this year, then a few months before halving it could climb to maybe $400's, and then it will pause for a while, as people look around to see if that's a real price or not, then if it stays there for a few weeks we could go to $600-700 range fairly quickly.
Although there is potential for the very large numbers, I think it's still just a small seedling and not the oak tree we'd like it to be. That I feel is 5-10+ years down the road.
Perhaps the use case is what will decide the price (whether for average purchases, gold alternative, or some other case we haven't seen yet). Depending on what it becomes known for could add or remove several zeros to the price.
For the shorter term I think around $300 is all I would expect this year, then a few months before halving it could climb to maybe $400's, and then it will pause for a while, as people look around to see if that's a real price or not, then if it stays there for a few weeks we could go to $600-700 range fairly quickly.
Although there is potential for the very large numbers, I think it's still just a small seedling and not the oak tree we'd like it to be. That I feel is 5-10+ years down the road.
I do not want btc to rise as i sold all my coins a month ago... and if it suddenly surges high than i will be pi**ed off. yeah im selfish lol but reality is that i do not think BTC will grow major until a couple years time. I honestly think that there would be another coin that will beat BTC in popularity and value. BTC is the foundation of all coins and it will be the starter of something even better. I hope we all make a good earning from it.
I don't understand why people get the sudden urge to start selling near the bottom.. Did you need the cash? In that case, it doesn't matter, you needed it. Otherwise you made a bad move. You can still re-enter at a small loss..
Not scarce at all...
If some altcoin has a hardcap of 21 billion coins.. then by default it is 1000 times less scarce than bitcoin.
Most altcoins have the supply fixed somewhere north of 21 million.
If some altcoin has a hardcap of 21 billion coins.. then by default it is 1000 times less scarce than bitcoin.
Most altcoins have the supply fixed somewhere north of 21 million.
Mainly because unlike every other currency on the planet bitcoin is scarce.
Thousands of altcoiners would beg to differ.
Hundreds of altcoiners would, sure, and quite legitimately too.
True, instead of using currency I should have specified fiat currency.
There can be only one, network effect, first mover advantage etc etc
Mainly because unlike every other currency on the planet bitcoin is scarce.
Thousands of altcoiners would beg to differ.
Hundreds of altcoiners would, sure, and quite legitimately too.
True, instead of using currency I should have specified fiat currency.
There can be only one, network effect, first mover advantage etc etc
People seem to keep hoping for the currency to appreciate in value when the USD is potentially on a run that repeats the prosperity of the 1980s. That's not going to happen.
At the same time, why does BTC even need to trade significantly higher than its current price. If it wants to function as a currency, why should it be dislocated with such magnitude from other currencies?
At the same time, why does BTC even need to trade significantly higher than its current price. If it wants to function as a currency, why should it be dislocated with such magnitude from other currencies?
Mainly because unlike every other currency on the planet bitcoin is scarce. There are considerably more than 21 million dollars in the world.
People seem to keep hoping for the currency to appreciate in value when the USD is potentially on a run that repeats the prosperity of the 1980s. That's not going to happen.
At the same time, why does BTC even need to trade significantly higher than its current price. If it wants to function as a currency, why should it be dislocated with such magnitude from other currencies?
It doesn't work like that. BTC is more like a stock than a traditional currency. BTC can reach 1 million per coin and perfectly function. The idea that being far from the price of other currencies is somehow not good is nonsense.At the same time, why does BTC even need to trade significantly higher than its current price. If it wants to function as a currency, why should it be dislocated with such magnitude from other currencies?
More demand and less total supply available = higher price, period. It's as simple as that.
I do not want btc to rise as i sold all my coins a month ago... and if it suddenly surges high than i will be pi**ed off. yeah im selfish lol but reality is that i do not think BTC will grow major until a couple years time. I honestly think that there would be another coin that will beat BTC in popularity and value. BTC is the foundation of all coins and it will be the starter of something even better. I hope we all make a good earning from it.
Conflicting ideas, I guess?
I think bitcoin will be the coin that beats all for years long. If you sold all your coins earlier, then you're very eager to earn profits, which is bad I think, as most of the time it interrupts your potential earning. As for the coin to replace bitcoin in the future, it must surpass what already is within bitcoin's concept, and it must be accepted by a wide audience before we even call it as successful. Jump to: