Topic: The lower the price the worse for Bitcoin? (Read 2543 times)

Maybe bitcoins will be digital antiques. valuable but essentially useless and outmoded.

In 150 years, Bitcoin will probably be worth millions of $, not $0.001

You will have to live an extremely long time to stand a chance of doing that. I don't think anyone has lived to 150 yet.

don't worry, I promise to buy all of them at $0.001 just for historic preservation, so you will never see sub-0.001 prices in your life.

Maybe bitcoin will never go sub $250. Bitcoin is alive now and will be alive next year ... next decade ... and so on.
"$0.001" is joke

we are already at 3.6 k a day, in one year will be 1.8, 900 i don't know, search for block halving

sub 1 is not possible man, an enormous buy pressure will rise long before that, otherwise it just die

there isn't any 0 or 1 or others stupid value like that, i think that under sub 100 or 50 it may just die and not recover anymore

As bitcoin gets cheaper, more people might get attracted to it.
So it doesn't necessarily mean that the distribution is getting more skewed.

it will stop at one point, can't decline indefinitely, there are simply no buy pressure right now, that's it

I'm not talking about wealth accumulation, I'm talking about seigniorage.  Seigniorage is "unfair", as it is value obtained against nothing.  I'm not talking about "all equal wealth".  I'm talking about random (not even equal) seigniorage distribution, which is probably much more fair than a few initial minters sitting on all of the stash and obtaining most of the seigniorage.


I wasn't talking about any "fair distribution of wealth".  But just about "fair distribution of seigniorage".

Indeed, the best way would have been to give "everybody initially the same amount of coins", but that is of course not possible.  Shaking is the next best thing. That was my point.

People who seek "random" or "fair" distribution, in my mind, are small kids or grown-ups with kids minds, who don't have a slightest clue about this world yet. Even if you give each person on earth 0.01 bitcoin and take all other forms of money away, in like 2 days 90% of the coins will be in the hands of a few wealthy elite and the rest will be poor beggar trolls. That is just the way humans are, most can not be rich for long, and in the competitive environment - which is any environment with more than 1 human in it - the fittest wins. So there is absolutely no problem with the current distribution - all the people who got coins they didn't deserve have lost them long time ago. Some are losing them now. It rebalances automatically according to a Gaussian distribution, and there is absolutely nothing silly commies can do about it, even pure communist states have wealthy elites right from the start.

So yeah, tldr: low price cycles give a few smart people who didn't hear about bitcoin before the chance to join the top. But there will never be anything "fair" about wealth. It takes courage, strength of character and mental stability to stay rich; don't watch too much hollywood BS about dream come true by miracle No miracles, only maybe temporary happiness then poor again in a year, after fortune has been blown away on unrealized poor man's wishes.

No, it isn't.  Because "big money" will not be interested in buying a failed coin that has fallen to, say, $10,-.
And if ever they do, that will pump up the price a lot.
On the other hand, even with not much money one can buy large fractions of bitcoin when it is $10,-

So when price falls very low again, it will not so much be a matter of financial power, but of belief/desire/hope/....

If several times, most players will think bitcoin is definitely dead, a total re-distribution of coins will happen, and that will NOT be dictated by big capital, but by totally random elements such as belief/desire/hope....

Hey, if bitcoin falls to $0.01, with only $100 000 you can buy up half of all coins !  Now that's in the reach of many many people, and not just big players.  If bitcoin falls to $0.01, NO big player will touch it.  All big players will have unloaded their stashes since long.  Most if not all "this is gentlemen" first adopters will have stepped out.

If price goes yoyo between sub $ and over $1000,- a few times, redistribution will be totally random.

If bitcoin fails ultimately, its distribution doesn't matter :-)

So what we can say is that after a serious drop down:
1) the coins will be redistributed much more randomly whenever it rises again or
2) it doesn't matter if it doesn't rise again.

yes, correct. But bag-selling permabulltards going to tell you the opposite.

tl,dr rest of the thread.

Is the price everything though? I'd have thought that this thread is ignoring the fact that people pay attention to the news and none of us are sure what the economic climate is going to look like every year from 2015-2016-2017-etc-etc.

If we start getting really bad news reports about global economics (or even just western economics), combined with gradually more people knowing about Bitcoin then it might get them thinking "Why am I putting savings into a bank account that may go under? Lemme have another look at this Bitcoin thing..."

So I don't think it's just about price.

I have a small amount of BTC bought from $600 downwards and I'll hold until the miners switch their gear off. That may seem like a waste of money but look at what we're dealing with here: it's a new economy model.

I just hope that those in power haven't got enough power or guile to screw up Bitcoin, for the sake of the average Joe trying to save his hard-earned the best way he can.

Above person is right. Higher price value will actually attract more money/investors.
That is also why most traders fail. They buy when price is way up and sell when price is down.

I'm not even going to argue about this. More people will buy into bitcoin at $1.000,- per coin than at $1,- per coin.

Someone needs to put this stupid theory to bed, that a higher exchange rate turns people away.  If this is the case then a single bitcoin will never ever reach $10k/btc, just like gold will never reach $1200/ounce.... oh wait.

That's not really the behavior of a speculative asset.  It would be if it were a consumption or a capital asset.  However, the price *evolution* of gives often an (erroneous) idea of the future behavior.  A long decline is not especially inspiring for a high future value.  A purely speculative asset usually has self-fulfilling price evolution: if it goes down, it has tendency to go even more down because holders panic sell ; if it rises, people buy in more and more (typical bubble behavior) and price spikes even more - until the amount of "bigger fools" runs out, and one falls into the first category.

Bitcoin in the long run is not supposed to be a purely speculative asset, but rather a currency, used to buy stuff with.  In that case, the sheer demand for coins to be able to buy stuff is a fundamental and determines (at least part of) the price.

This is obviously impossible.  At an inflation rate of 3600 coins per day today, at roughly $300, of course more money is flowing net into bitcoin than at an inflation rate of 7200 coins per day at $13.

That's basic arithmetic I'd think.

Additionally, total newbies don't understand you can buy a small fraction of a bitcoin. They often think you have to buy a whole one. At $1000 they don't even investigate further, but the lower the price gets the more total newbies might start investigating bitcoin, then discover you can buy $5 worth.

The price is all relative to supply and demand. The lower it gets the more people decide to buy in and then that has a knock on effect and up creeps the price. The market dictates the price so we need to concentrate on spreading adoption to merchants if we want to see big gains but this will happen over time and not overnight.

But when price is low, it is also easier for anyone to own a majority of the coin. Where's the exception anyway? If price was like at the high side, a newbie naturally would hesitate to get a lot of the coins. So maybe a 100 bucks investment will come up with something like 0.35 of a coin. Psychological to that person that sounds like very little return for the fiat money that they put in.