The current usage rate of Bitcoin is not very high (I mean daily transaction payment).
Investment still accounts for the majority. We all believe that the value of Bitcoin will get higher and higher.
Bitcoin's volatility is still relatively large.
I recently saw that the price of Bitcoin is rising, and I will definitely not use Bitcoin for payment during this period of time.
Topic: The more popular Bitcoin is, the more valuable it is？ - page 2. (Read 1402 times)
The more popular Bitcoin is, the more valuable it is, but the premise of its popularity is that Bitcoin must have enough market applications. When people can use Bitcoin to buy more and more products, the more people who use Bitcoin will be. More and more, the number of bitcoins will decrease, and the price will naturally increase. This is the trend and it is inevitable.
Bitcoin is becoming more and more popular, and everyone knows that it is being used more and more. When a large number of novices enter the market, it may affect a little bit of Bitcoin price fluctuations. But when more and more people recognize Bitcoin, then the value of Bitcoin will get higher and higher.
Being popular is not enough for it to become more valuable. I mean that people were once talking about Bitcoin on Twitter and making it trend topic. And the number of Google searches about Bitcoin was also increasing. And this was affecting the price positively also. But I see that this kind of external factors don't affect the price directly anymore. Instead, people should continue to demand and buy Bitcoin as much as possible. This will help it become more valuable surely.
It is not really an external factor, the more people know about bitcoin the more present it is on their lives then the bigger the chances of them adopting it, this is why bitcoin has been adopted by the young as they use social media way more than older people and they have friends and acquaintances that use bitcoin and then they decide to use it themselves as bitcoin is simply a technology that is going to change the world and they want to be part of it. legendary
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Being popular is not enough for it to become more valuable. I mean that people were once talking about Bitcoin on Twitter and making it trend topic. And the number of Google searches about Bitcoin was also increasing. And this was affecting the price positively also.
Because we see the price of Bitcoin in terms of how many USD it can possibly yield when sold, we see these changes. But 1BTC remains 1BTC whatever the price in USD might end up as. Hence the effect is indirectly raising the price. But the amount gained remains same.
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But I see that this kind of external factors don't affect the price directly anymore.
The fiat price will be affected. It does not matter if people understand or not, being more popular brings in more investors who are in for the quick flip thereby causing a inorganic price pump.Quote
Instead, people should continue to demand and buy Bitcoin as much as possible. This will help it become more valuable surely.
You are again mistaking the price vs amount argument. Yes the fiat price will increase but amount of bitcoin will not change against which that price was increased. Hence buying at the higher price is actually a loss, because you would have to sell even higher to profit.
The more people know about Bitcoin, the more people use Bitcoin as a payment or investment Bitcoin. I agree that Bitcoin's popularity has increased over time.
Currently, young people have participated in investing in Bitcoin more and even companies and investment institutions have joined this market. I believe the rise in Bitcoin price during this bull cycle is due in no small part to the companies.
Currently, young people have participated in investing in Bitcoin more and even companies and investment institutions have joined this market. I believe the rise in Bitcoin price during this bull cycle is due in no small part to the companies.
Being popular is not enough for it to become more valuable. I mean that people were once talking about Bitcoin on Twitter and making it trend topic. And the number of Google searches about Bitcoin was also increasing. And this was affecting the price positively also. But I see that this kind of external factors don't affect the price directly anymore. Instead, people should continue to demand and buy Bitcoin as much as possible. This will help it become more valuable surely.
Cryptocurrency especially bitcoin now become very popular all over the world and I don't think that there is still greater number of people who don't have knowledge on cryptocurrency compared to those who have an idea on it especially on the teenager and above. The point that cryptocurrency has still huge transaction fees it wouldn't be still advisable as payment option, as people will still prefer to choose the one that will lessen their fee and the transaction time that it will needed.
Some people know the existence of bitcoin but I believe, still a lot of them has not done any btc transaction yet. But in all cryptocurrencies that exist, if you ask a regular person, he will first think of bitcoin rather than any other alts. They know it exists, but most of them are still hesitant to touch the crypto market because of lack of knowledge.
The very beauty of this coin, as even those who are not really attached to this market acknowledge it's really exist, though they are not in the position yet but if there's a chance the first thing that will come to their mind is bitcoin.
An idea that once being developed, interest may lead them to invest inside this market, as like domino effects demands create more value and value attracts more people's interest.
Still, at its young age, Bitcoin can deliver more in these incoming years, as there are many adoptions and more newcomers that bring new invested money to flow.
I believe most Bitcoin investors only care about the profit they make which is the reason most people only believe that the more popular Bitcoin is, the more it will be valuable in price whereas this will also make the market to be easier to be manipulated.
For every advantage, there will always be disadvantages.
For every advantage, there will always be disadvantages.
It is really something that we need to ponder upon. How something that cannot be touched, seen, or perceived as real, is having a value that is worth more than gold. Much like the governments of the world giving value to fiat currency, so are the people that gives value to crypto especially Bitcoin. I think, the more people think of it as true, real, and valuable, then the more valuable it becomes. Not to mention of course market forces that would give Bitcoin a very high price due to high demand.
You've answered it already, it's because of the people that believes and perceives that there's value in it. I think that it's the ultimate truth in regards to the reason why bitcoin has a value like fiat, their both backed by faith of the people and that it can be used to trade goods and stuff.Popularity is one of the essential things for Bitcoin like it is the same for all of the other coins also. The more the popularity it has, the more the price will be in short. But of course, it will not affect only the price. Bitcoin adoption will be able to reach a much better level also.
Well, in a way, yes, popularity means higher value but what @Pulsar77 is saying about adoption is even more important. Adoption is what everyone needs, because this provides more utility and in effect leading to higher value. Regulatory settlement from main countries is also necessary in order to see BTC value reach incredible milestones.
Though, I imagine these things to fall into place with time! For such a disruptive technology, crypto is still in its early stages.
Yes you are right. If bitcoin becomes more popular day hy day then it must be more valueable. That time one bitcoin will be untouchable for billionaires too. Who knows it might be possible.
Lets calcute something. We know that bitcoin has 21 million max supply. So this amount for whole bitcoin community. Just think whole worlds people known about bitcoin and everyone want bitcoin.
So now if we calculate. World has almost 7.8B+ people
So 21M/7.8B= 0.00269230769 Btc per person. (Just a imaginary calculation, because that time people can increase.)
Can you imagine. Now just think holders can't sell but people want to buy. So buyer increase price. Now people want so increased the price. Now can we imagine how much value people made this btc.
Its just my imaginary thought. Your thought might be different thank you.
Lets calcute something. We know that bitcoin has 21 million max supply. So this amount for whole bitcoin community. Just think whole worlds people known about bitcoin and everyone want bitcoin.
So now if we calculate. World has almost 7.8B+ people
So 21M/7.8B= 0.00269230769 Btc per person. (Just a imaginary calculation, because that time people can increase.)
Can you imagine. Now just think holders can't sell but people want to buy. So buyer increase price. Now people want so increased the price. Now can we imagine how much value people made this btc.
Its just my imaginary thought. Your thought might be different thank you.
Popularity is really a big factor that helps a coin become more valuable in time. Because becoming popular means that the demand also increases at the same. Demand rate is a very important thing for a coin to be able to break resistance levels much easier and move on. So, people demand Bitcoin more day by day. And it streamlines things for Bitcoin price to reach much higher levels and achieve new ATH levels.
If bitcoin get more popularity the more it will expand. If we take a look at the beginning, it will be seen that its price was very little but its price is gradually increasing. One of the reasons is its Popularity. Currently, institutional investors are positive towards Bitcoin. As a result, it is very clear that with bticoin’s popularity as well as demand both are increasing.
it is not a guarantee that if bitcoin is more popular, the price will soar so high, as we know at this time that bitcoin investment is the largest investment in this century and is very popular among many, but we can see for areas that are still not stable and experienced a significant decrease, then this cannot be a guarantee that the more popular bitcoin is, the higher the price will be
this is not a guarantee that when bitcoin is more popular, the price will increase, as we can see at this time how bitcoin is so popular among many people where there are so many miners who invest in bitcoin, but the price of bitcoin is also stable and that's where we can't make the benchmark the more popular bitcoin, the higher the bitcoin price
Read the Keynesian Beauty Contest to know that you're wrong, popularity means demand and with bitcoin having a limited supply, the price further increases, combine that with the popularity/demand and you will get a much higher pump in prices. So in all dimensions, in the argument you are wrong that even if it's popular, it doesn't guarantee a price increase. Popularity is one of the essential things for Bitcoin like it is the same for all of the other coins also. The more the popularity it has, the more the price will be in short. But of course, it will not affect only the price. Bitcoin adoption will be able to reach a much better level also.
The more popular it is, of course, the more users want to use bitcoin, currently bitcoin has a strong global community that makes bitcoin continue to increase in price, besides what makes bitcoin popular is the adoption of many large companies that will make bitcoin easy to use and this is a sign that bitcoin will continue to be popular.
With the demands of people and the market, the value of Bitcoin has been endowed by us. Our consensus has made the value of Bitcoin continue to rise. The more consensus, the higher the price. Now companies use Bitcoin as a method of payment, and taxation is also Certainly, tax will not be evaded because of other payment methods.
The value of Bitcoin depends on the market and people's demand for it. With the increase in popularity, demand will automatically increase. Now Bitcoin has become popular all over the world. People everywhere are gradually familiar with Bitcoin and the price of Bitcoin. It will be higher than expected, it's all a matter of time.
Cryptocurrency especially bitcoin now become very popular all over the world and I don't think that there is still greater number of people who don't have knowledge on cryptocurrency compared to those who have an idea on it especially on the teenager and above. The point that cryptocurrency has still huge transaction fees it wouldn't be still advisable as payment option, as people will still prefer to choose the one that will lessen their fee and the transaction time that it will needed.
Some people know the existence of bitcoin but I believe, still a lot of them has not done any btc transaction yet. But in all cryptocurrencies that exist, if you ask a regular person, he will first think of bitcoin rather than any other alts. They know it exists, but most of them are still hesitant to touch the crypto market because of lack of knowledge.
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