The more popular Bitcoin is, the more valuable it is？ - page 5.

TheUltraElite

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but has also experienced such a significant price decline,

Price is rather on the uptrend, but I get your point. Popularity is not the point here. Demand and supply ratio determines the price.

Quote from: Rb48 on August 16, 2021, 01:24:07 PM

One thing to always remember is that the higher the price of a thing, the more popular it is. Once the price of Bitcoin was much lower then its popularity was also much lower. But as the days go by, it is seen that bitcoin As the popularity grows, so does the price. So I would say that the more popular the thing, the higher the price of that thing.

You have to understand the chronology here. First when bitcoin was started it was not popular at that time people bought it just for fun and probably not having any ulterior motive in mind. Then the craze of these millionaires started and that raised the price a lot. But the difference is that the latter is an inorganic pump subject to high level of market manipulation.

blckhawk

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Quote from: Rb48 on August 16, 2021, 01:24:07 PM

One thing to always remember is that the higher the price of a thing, the more popular it is. Once the price of Bitcoin was much lower then its popularity was also much lower. But as the days go by, it is seen that bitcoin As the popularity grows, so does the price. So I would say that the more popular the thing, the higher the price of that thing.

That's the reason why they always do advertising although the products advertised doesn't necessarily go up in prices, it makes them stay on the market and have the company selling them become more valuable since they're much more recognizable by the public. Basic laws of supply and demand should be enough to understand why some stuff go up and down.

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Quote from: slaman29 on August 03, 2021, 02:23:37 AM

It's hard not to argue, the more popular it is, the more people assign value to it, and therefore, the more valuable it becomes. Even if crap things like NFTs become popular, they have a value to it.

But relying only on popularity doesn't seem to get you very far in the long run!

It's not really popularity but adoption that makes bitcoin more valuable, and one of the best ways to understand bitcoin in terms of value and how adoption has a big say are social networks, there are countless social networks and the majority of them have no value, but why is that? After all they have similar software to other social networks so why one is incredibly valuable and the other is worthless? And the reason is the number of people using the network, and the same concept applies to bitcoin.

Rb48

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One thing to always remember is that the higher the price of a thing, the more popular it is. Once the price of Bitcoin was much lower then its popularity was also much lower. But as the days go by, it is seen that bitcoin As the popularity grows, so does the price. So I would say that the more popular the thing, the higher the price of that thing.

qwertyup23

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Quote from: Robinson66 on August 02, 2021, 09:32:07 PM

Bitcoin is limited. Everyone uses Bitcoin for payment and daily transactions. Bitcoin is becoming more and more popular. Many people know that Bitcoin also has countries that set Bitcoin as legal tender. If Bitcoin is used to pay salaries, is it necessary to collect taxes?

To answer your question, yes. Anything that is collected as a means of income is subject to tax depending on the country where BTC is converted into legal tender. Any form of profit or income is taxable by the government and its respective rates depend upon the country.

Quote from: Dread Pirate Roberts on August 14, 2021, 07:42:32 PM

As you call it and it makes a lot of sense. if there are many large companies that have an impact on the economy of many people will adopt bitcoin as payments, the demand will certainly increase and with limited coins the price will also increase. not the other way around. because not everyone using bitcoins for transactions. nowadays more people are used to long term investment or trading, so its balanced between people that using it for investment and for people who use as payment.

Like what OP said, in order for this to happen, it is essential that BTCs must be converted to legal tender. But, even without the implementation of it, companies may still adopt it as a form of payment to their products/services due to its widespread popularity over the years.

EdenHazard

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Quote from: ReiMomo on August 14, 2021, 02:50:52 PM

On a long term perspective, yes, bitcoin is going to be a valuable asset. A newbie into crypto always makes him familiar with whats happening around, like trading. Unless and until he/she is an experienced, he/she would go for a short term profit. But yes, being here for more than 5 years, I am really confident on bitcoin's massive growth in its value on a long term. Its demand in the market is making it popular and valuable.

We are here on the same path to believe in bitcoin power to change the world, no matter what happened to the market with its value to goes up or crazily down, its not just a word though.
popularity in bitcoin nothing to do with its initial real vision of bitcoin to make a better world in finance.. as number is number and bitcoin with the fixed supply has proven it all .

any government would of course scared to this what so called people power.

Dread Pirate Roberts

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As you call it and it makes a lot of sense. if there are many large companies that have an impact on the economy of many people will adopt bitcoin as payments, the demand will certainly increase and with limited coins the price will also increase. not the other way around. because not everyone using bitcoins for transactions. nowadays more people are used to long term investment or trading, so its balanced between people that using it for investment and for people who use as payment.

Hippocrypto

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Bitcoin won't be devalued, in fact we're now heading towards the most promising value which soon take up to $60k until $100k. Predictions was really doing greater things possible to exist, and the popularity was our keys to acquire all those potentials.
Investors will not give up as long as there's a strong momentum and the volume of Bitcoin increase keeps going.

sherenikaw

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The development of bitcoin at this time is getting better where bitcoin is starting to be known by many people in various countries, even they are willing to enter the crypto world to learn more about bitcoin. I think bitcoin is better to hold or invest than to use for everyday transactions. The huge value of bitcoin makes it unusable at any time and it takes time to get high price in this volatile crypto market. It is not easy to make bitcoins as daily transactions , especially for ordinary people, of course the process will take a long time.

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the more popular bitcoin, the more valuable it is not 100% guaranteed it will actually happen, because today we can see that bitcoin is so popular in this century but has also experienced such a significant price decline, can we say that more and more the use of bitcoin then it will not ball the price will soar high. because this week is not affected by the few or the many bitcoin miners

the more popular and the more hype bitcoin, the higher its price. this year has been a good year for bitcoin as it was able to hit new ATH at a very high price. Significant price drops are commonplace, this will not make bitcoin to be abandoned.
Bitcoin has a scarce supply and when all the supply runs out the demand for bitcoin will be even greater.
Bitcoin is a future digital asset that will dominate and of course be the target of investors.

isaac_clarke22

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Quote from: Brus123 on August 14, 2021, 01:50:21 AM

~

Well it connects. It becomes more like fee for people if they use something that cannot be tracked by the government. When you register your business into the authority whatever agency it's called in your country and they know that you adopt Bitcoin, expect taxes from it since you are earning something with the use of crypto. It's not all about the building of infrastracture.

ReiMomo

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Quote from: EdenHazard on August 14, 2021, 01:56:53 PM

Quote from: JohnBitCo on August 14, 2021, 11:03:56 AM

Quote from: Rruchi man on August 14, 2021, 08:16:48 AM

Quote from: Robinson66 on August 02, 2021, 09:32:07 PM

Do you think Bitcoin will be devalued in the future?

Right now, no one can really tell the actual value of bitcoin. It’s too early. However, there are predictions in the crypto-finance space that the value of bitcoin could reach over $100,000 to as much as one million dollars per BTC in the future. Only a couple of days ago, bitcoin made a comeback that has taken it up more than 50% from recent lows. The future is bright, let's keep our fingers crossed.

If the Bitcoin value falls by 10,000 or 20000$ , even then it doesn't mean that the Bitcoin is devalued. In the long terms the Bitcoin will always be high in the prices. We should not be worried about the dump which Bitcoin takes while making the new all times high.

Another thing that what should be the true value of Bitcoin is no one can tell it may be $1000000 or even more.

Value isnt really what true bitcoiners looking though, in the long term to change the financial system is what true bitcoiners looking for.
thats the biggest mistake from those people who looking for short term profit but get demolished in the end due lack of awareness that bitcoin and any other cryptocurrencies is wild and volatile.
popularity bring stronger ecosystem into bitcoin space sometimes but thesedays it looks unclear due unclear covid 19 outbreak that makes most business stalled and the ecosystem itself looks not much growing with its high popularity.

On a long term perspective, yes, bitcoin is going to be a valuable asset. A newbie into crypto always makes him familiar with whats happening around, like trading. Unless and until he/she is an experienced, he/she would go for a short term profit. But yes, being here for more than 5 years, I am really confident on bitcoin's massive growth in its value on a long term. Its demand in the market is making it popular and valuable.

EdenHazard

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Quote from: JohnBitCo on August 14, 2021, 11:03:56 AM

Quote from: Rruchi man on August 14, 2021, 08:16:48 AM

Quote from: Robinson66 on August 02, 2021, 09:32:07 PM

Do you think Bitcoin will be devalued in the future?

Right now, no one can really tell the actual value of bitcoin. It’s too early. However, there are predictions in the crypto-finance space that the value of bitcoin could reach over $100,000 to as much as one million dollars per BTC in the future. Only a couple of days ago, bitcoin made a comeback that has taken it up more than 50% from recent lows. The future is bright, let's keep our fingers crossed.

If the Bitcoin value falls by 10,000 or 20000$ , even then it doesn't mean that the Bitcoin is devalued. In the long terms the Bitcoin will always be high in the prices. We should not be worried about the dump which Bitcoin takes while making the new all times high.

Another thing that what should be the true value of Bitcoin is no one can tell it may be $1000000 or even more.

Value isnt really what true bitcoiners looking though, in the long term to change the financial system is what true bitcoiners looking for.
thats the biggest mistake from those people who looking for short term profit but get demolished in the end due lack of awareness that bitcoin and any other cryptocurrencies is wild and volatile.
popularity bring stronger ecosystem into bitcoin space sometimes but thesedays it looks unclear due unclear covid 19 outbreak that makes most business stalled and the ecosystem itself looks not much growing with its high popularity.

Kittygalore

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Quote from: ?? on ??

Once upon a time people didn't know what bitcoin was. But now Bitcoin has become so popular that everyone is becoming a fan of this Bitcoin. If you look at the attack, you can see that the price of Bitcoin was much lower at one time At that time its popularity was much less. As the days go by, the popularity of Bitcoin is increasing and at the same time its price is increasing a lot.Bitcoin will be very expensive in the future and will be very popular with people.

That's because of Keynesian Beauty Contest, when something is trending or is popular among the public, it will be worth more and it will increase in value because coupled with the trend, the price goes up since there's a big demand for it. That's why stockbroker and crypto traders watch news, because they want to see what's on the trend and they want to know about it before anyone else because getting late could mean a million dollars loss to some of them.

ven7net

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At the moment, the value of BTC is growing and this is primarily due to the fact that its price is growing and makes it possible to earn good money. There is also information that BTC is already accepted for payment in some stores. At the moment, all this contributes to the growth of the value of BTC, but it is difficult to say how things will look in the future. One of the options is the opinion that BTC can become digital gold and it will be used as a means to store your funds and increase them. Then the value of BTC will probably continue to grow and its price will be able to increase several times.

nightxglow

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Quote from: Robinson66 on August 02, 2021, 09:32:07 PM

Recently, there as been a lot of discussion about using Bitcoin to pay or employers to pay salaries using Bitcoin.

https://bitcointalksearch.org/topic/if-it-is-more-convenient-for-people-to-buy-bitcoin-will-bitcoin-be-more-popular-5350730
https://bitcointalksearch.org/topic/if-you-can-get-paid-through-cryptocurrency-do-you-still-choose-fiat-currency-5351333
https://bitcointalksearch.org/topic/getting-paid-in-bitcoin-vs-getting-paid-in-fiat-5351973
https://bitcointalk.org/index.php?topic=5352233.new#new

(All forum threads, there will be many similar views)

There is a lot of hype among Amazon, Apple, and Tesla about accepting Bitcoin as a payment method. Many of them say that the adoption is better, but if the company converts a large amount of Bitcoin paid by customers into legal tender, it will give Bitcoin. The currency brings a lot of selling pressure.
Bitcoin is limited. Everyone uses Bitcoin for payment and daily transactions. Bitcoin is becoming more and more popular. Many people know that Bitcoin also has countries that set Bitcoin as legal tender. If Bitcoin is used to pay salaries, is it necessary to collect taxes?
Bitcoin is becoming more and more common for daily payments. If it is more convenient for everyone to buy bitcoins and use bitcoins for daily payments, will the price of bitcoins get lower and lower?
But now the legal currency has depreciated. For example, if you are rich, then you will not let your money just be stored in the bank, and will invest it in cryptocurrencies, houses, stocks, and others.
If conditions permit, I would be happy to use Bitcoin for daily payments, but some people have said that they will not sell their own Bitcoins and have been waiting for the price of Bitcoin to rise.
Do you think Bitcoin will be devalued in the future?

I guess if bitcoin is becoming more and more common and people started to use it as daily transaction currency, the value won't be as high as it is now. Why? because most people now rarely use their bitcoin and use it as their asset, so they save bitcoin until the value is high. However, if people use it as currency, less people will hold it so I guess the value won't be as high as it is now, but It will be more stable though since it's being used daily, we need to maintain the price not to increase or decrease drastically. However, the value of something is still based on the supply and demand, as long as the supply is still lower than the demand, i think bitcoin will still have a high value even in the future. But if vice versa, then we shouldn't be surprised if the price started to decline or the value is decreasing.

Hypnosis00

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Quote from: ?? on ??

Once upon a time people didn't know what bitcoin was. But now Bitcoin has become so popular that everyone is becoming a fan of this Bitcoin. If you look at the attack, you can see that the price of Bitcoin was much lower at one time At that time its popularity was much less. As the days go by, the popularity of Bitcoin is increasing and at the same time its price is increasing a lot.Bitcoin will be very expensive in the future and will be very popular with people.

Yeah, and people are now thinking that Bitcoin will even be more valuable in the future that could not be simply ignored. Thus, if we started to accumulate some of Bitcoin now, we might think about millions of profit someday. It is a way to think about in the past where Bitcoin is just only $100 and people are just don't mind it but for now, as they saw Bitcoin become the mainstream in the crypto market the more they become aggressive to have them as well.

The more it becomes popular, the more it was valuable due to higher demand.

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Quote from: JohnBitCo on August 14, 2021, 11:03:56 AM

Quote from: Rruchi man on August 14, 2021, 08:16:48 AM

Quote from: Robinson66 on August 02, 2021, 09:32:07 PM

Do you think Bitcoin will be devalued in the future?

Right now, no one can really tell the actual value of bitcoin. It’s too early. However, there are predictions in the crypto-finance space that the value of bitcoin could reach over $100,000 to as much as one million dollars per BTC in the future. Only a couple of days ago, bitcoin made a comeback that has taken it up more than 50% from recent lows. The future is bright, let's keep our fingers crossed.

If the Bitcoin value falls by 10,000 or 20000$ , even then it doesn't mean that the Bitcoin is devalued. In the long terms the Bitcoin will always be high in the prices. We should not be worried about the dump which Bitcoin takes while making the new all times high.

Another thing that what should be the true value of Bitcoin is no one can tell it may be $1000000 or even more.

There are many who predicted it would go up to that price, it's possible in years. Just this year and before this year its growth is exponential. BTC had become more popular too because the senate is talking about Bitcoin.

If a country made it a legal tender and some US states like Wyoming and Miami competing over which of them could become a center of crypto, it's a stellar promotion for Bitcoin.

JohnBitCo

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Quote from: Rruchi man on August 14, 2021, 08:16:48 AM

Quote from: Robinson66 on August 02, 2021, 09:32:07 PM

Do you think Bitcoin will be devalued in the future?

Right now, no one can really tell the actual value of bitcoin. It’s too early. However, there are predictions in the crypto-finance space that the value of bitcoin could reach over $100,000 to as much as one million dollars per BTC in the future. Only a couple of days ago, bitcoin made a comeback that has taken it up more than 50% from recent lows. The future is bright, let's keep our fingers crossed.

If the Bitcoin value falls by 10,000 or 20000$ , even then it doesn't mean that the Bitcoin is devalued. In the long terms the Bitcoin will always be high in the prices. We should not be worried about the dump which Bitcoin takes while making the new all times high.

Another thing that what should be the true value of Bitcoin is no one can tell it may be $1000000 or even more.

Rruchi man

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Quote from: Robinson66 on August 02, 2021, 09:32:07 PM

Do you think Bitcoin will be devalued in the future?

Right now, no one can really tell the actual value of bitcoin. It’s too early. However, there are predictions in the crypto-finance space that the value of bitcoin could reach over $100,000 to as much as one million dollars per BTC in the future. Only a couple of days ago, bitcoin made a comeback that has taken it up more than 50% from recent lows. The future is bright, let's keep our fingers crossed.

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