Topic: The more popular Bitcoin is, the more valuable it is？ - page 4. (Read 1402 times)

I think the thing that makes bitcoin more popular is the number of media reporting bad things about bitcoin, the media say that bitcoin is used for various kinds of illegal transactions and financial crimes, this makes many people curious including me and after getting to know bitcoin it has become a valuable digital asset high because prices continue to skyrocket.

what do i know
the more people adopt bitcoin the higher the bitcoin price will be, and the more people sell bitcoin, the more likely the bitcoin price will decrease. with the acceptance of bitcoin as a means of payment such as Google, Amazon, Tesla, and other well-known companies, it will make bitcoin adoption increase, and make its price go up. however, when the FUD attacks, and provides negative information about bitcoin such as a ban, or something else, it will make people panic, and sell the bitcoin so that the bitcoin price decreases.

in other cases, using bitcoin on a daily basis as a means of payment, or holding it long term is an option. however, some people who hold bitcoins choose bitcoin as their place to invest. we hope the price will continue to rise, but we can't prevent a price drop that could also happen. no one knows whether the price will go down or up. however, some people also only use it as a means of payment on the internet.

IMO, find your purpose in this. if you listen to people you will find different opinions. So far, the government allows bitcoin as an investment tool, and we don't know whether the government will try to devalue the price on bitcoin or not, what you need to know is that investing in this case is quite risky. just do what you want to do, whether it's using it as a means of payment, or an investment. Currently, all of that is still allowed.

bitcoin has earned the best place in the global market. there are several factors including the adoption of bitcoin in several countries, e-commerce that accepts payments with bitcoin and others. the more people get to know bitcoin and the companies that campaign for bitcoin it seems this makes bitcoin even more valuable

indirectly This can make it a profitable option because the more popularity bitcoin receives, the more enthusiasts will be and the more demand it will have and cannot be denied to be one of the most likely impacts that will occur.
because of its logic people will not buy an item if they do not know the quality of the item and now back to bitcoin which when talking about quality of course there is no doubt and when this is tested then bitcoin is getting more popular and bitcoin will be more hunted.
This is like an ecosystem of interconnected chains.

Its a simple economics subject...

High demand = High value
Less demand = Less value

Its no brainer that the more popular Bitcoin is then the more valuable it is and so as with other things
and i dont know on why people do still ask this very basic question.

Lets just see on how bitcoin popularity would gradually scattered globally.

Bitcoin has never been stable and it's always been volatile.

With that, the popularity of bitcoin helps it to increase its demand. The demand of bitcoin makes it more valuable, popularity alone doesn't have direct relation to it.

But the effect of it does.

I'm glad there is a country like El Salvador that is so open to Bitcoin, what happened in El Salvador hopefully other countries will follow. The residents of
El Salvador are very lucky to be able to use Bitcoin freely, because Bitcoin can be used as a means of payment. Especially with the limited supply of
Bitcoin and the increasing demand for Bitcoin. This makes the price of Bitcoin continue to rise to become more expensive, even the increase in Bitcoin
this year is very significant. So investing in Bitcoin can indeed generate large profits in the future.

Well, that is possible, as the previous thread where I comment, the latest update was El Salvador adding more bitcoin ATMs on their places. This will perhaps be the start of mass adoption of bitcoin since everywhere in El Salvador you can spend bitcoin or use bitcoin through a payment method.
That it is right, --the more bitcoin have a mass adoption the more it will become expensive as we know that bitcoin has a fixed supply and it has unlimited demand it will become stronger and stronger in price which is hard for us to accumulate in the future.

Bitcoin has always its huge potentials that dominates from other coins. And with the present time, its popularity has even more acknowledged because of the impact made by huge company investors and even developed countries are now starting to eyeing on bitcoin.

Not to mention El Salvador who has made bitcoin a legal tender. And by the time its popularity will keep on spreading worlwide, its value will also keep moving upward. The more people who will get interested into bitcoin and become inclined to it, bitcoin adoption will become more possible to achieve.
  

Personally I would not put much weight behind the dominance as it is obvious the dominance of bitcoin is being heavily understated, if you take away the scam coins, the bad coins, the stable coins and the centralized coins then you are left with bitcoin exhibiting a huge dominance over the market which is why institutional investors so far have only showed any interest in bitcoin and not in other coins, which is a very clear signal that bitcoin is by far the best coin in the market and the only one worth to be held for the long term.

I think that the popularity is very important for Bitcoin to improve and become more valuable. Because as long as people start using Bitcoin and investing into it, it helps Bitcoin adoption reach higher levels and the price also starts increasing. We know that there are resistance levels. As long as more people buy Bitcoin, it gets easier for the price to break those resistance levels.

Precisely. Once bitcoin will be used as a daily payment system, then it will not be an excuse anymore from paying taxes too. However, this will create a good motivation that if bitcoin will be more recognize and utilize as a payment system, then it will gain more demand from the market seeing its value more likely to increase.

But i'm also looking forward if the government will start adopting bitcoin in the future, will it's value become more stable or maybe less volatility by then. We will find out then when its happening there already. But one thing i am certain is that as long as people continue to use bitcoin, then it will always have its own value.

Bitcoin maintains an average dominance of 42.4% at the moment, it has been in the range for some time. Although, bitcoin had a dominance of more than 60% according to the statistics of the specialized platforms.

IMO, bitcoin is becoming more popular now as a reserve asset. As there are more developments such as dapps, which allow its daily use with fast transactions and low costs, bitcoin will be more usable.

For my part, I invest in bitcoin for a long time to pay for the University of my younger relatives.
I prefer to use other crypto assets that offer me low costs and faster transactions and hold bitcoin. Hopefully it is the best way to protect my investment.

bitcoin will be very expensive if more and more people use it.
if humans already use bitcoin in everyday life, bitcoin will be increasingly popular and the price will be more expensive, especially if bitcoin is used to pay employee salaries, bitcoin users will increase therefore the price of bitcoin will continue to rise.
on the other hand there will be a bad impact if bitcoin has been used to pay employee salaries, the government will definitely issue an order to pay taxes for using bitcoin to pay employee salaries.

Or more precisely the value of bitcoin comes from the fact that we do not need to trust it, everything is on the open and you can see if you want if there is anything wrong with the code or the ideas behind it, governments tell us to trust in them and even on the US dollar the word trust appears, however they have betrayed that trust over and over again and in fact they are doing precisely that at the moment by printing huge amounts of fiat to stimulate the economy, something that is not possible to do with bitcoin.

What increases the price of Bitcoin is due to increased demand in the market, and that can happen if Bitcoin is increasingly known by the public. 
Because the more popular Bitcoin is, the more curious people will be, maybe they just wanted to know at first.  But over time they will definitely have the intention to buy it, indeed it will not happen significantly. 
However, given the limited supply of Bitcoin, if Bitcoin is increasingly popular and demand in the market increases, then the Bitcoin price will automatically increase as well.

Valuable you mean ? More price?
Yes it will definitely.
For better understanding we can compare it to as gold or can say it follows the method of supply and demand.
The more demand it gets, the supply will less and it makes rarer so the price will go high.
Same happens with Gold And with BTC too.
Hope this helps you OP.

This is absolutely true, more popular bitcoin will impact more user demand, they can buy online payment with bitcoin, book a plane ticket, or buy a Tesla if Elon accepts it again,  … people often have a habit of sharing good things and they will spread word of mouth that way, bitcoin will be more trusted and popular, it will be proportional to the value of bitcoin.  The problems of manipulating or speculation are just the surface though.

I'm appreciate with this line. Because cryptocurrency value depends upon its popularity among people. Which coin is more popular that coin price also much higher. Market volume is all time high which coin is more potential and popular. Because of much popularity and potentiality Bitcoin price going to high and the coin going to more valuable.

Its value also comes from trust, but it is not the government's credit endorsement behind it.
The letter to Bitcoin is a purer letter. This letter comes from the simplicity and power of Bitcoin technology, from the ideas that transcend the times contained in it, from dissatisfaction with the existing monetary system, and from human beings’ attitude towards progress. Natural yearning.