The more popular Bitcoin is, the more valuable it is？ - page 7.

TheUltraElite

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Bitcoin is more popular now a days its payment method also start with amazon texla and other company.

Has not happened with Amazon yet. But I have been hearing this oddly crazed rumor for several years now. The most recent one was debunked by official sources just the day after. As for Tesla, they are creating more hype than is needed. But I doubt the market they are making has anything to do with crypto. Its more like they are trying to sell their own product and using crypto as a tagline.

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we can't use this as a benchmark for more investors, the higher the price of bitcoin, because it has not been proven until now with a tendency to decrease prices for the currency, so we can't make this a benchmark in investment the world of bitcoin will make the price soar

A benchmark is not the appropriate term here. Bitcoin can be said to be an overall representation of the crypto market. In fact the only coin people should focus on is bitcoin after all it has the best track record till date.

imstillthebest

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are you contented on the acheivments of bitcoin did and you dont want more adoption to happen ? but even if in the current status of bitcoin there are already major declines that happen but the price is not that high .
if only the adoption is wider the price will also get higher and the dumps will now look smaller .
price wont dump even further because not all people are willing to sell their bitcoins but it only make bitcoin popular than ever .

slaman29

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Quote from: kryptqnick on August 04, 2021, 03:42:07 AM

Quote from: Robinson66 on August 02, 2021, 08:32:07 PM

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.

Amazon isn't accepting Bitcoin as payment, Tesla temporarily stopped accepting Bitcoin until the mining sustainability investigation is over, and Apple is going to accept BTC only indirectly, via accepting Coinbase debit card. The hype is real, though, and it does have temporary effect on the market.
Answering the thread name's question, I believe the general tendency of Bitcoin becoming as valuable along with becoming more popular is true. After all, it makes perfect sense because if Bitcoin gets more popular, the demand for it increases, and if the demand increases, the price increases as well. However, even though the amount of users is constantly growing, we still have the bearish market from time to time, so the price doesn't always correlate with popularity.

And all this things about people "accepting" Bitcoin doesn't even really prove it is popular (I'm not saying Bitcoin isn't popular, but accepting payments doesn't make it popular) and as you point out, all of these guys who initially accepted it or were rumored to be accepting it? They didn't find a lot of business with it I bet you, otherwise Tesla wouldn't have ever stopped accepting. I mean, the concern about mining sustainability is nonsense after knowing the nonsense that they do all the time environmentally:)

mrongoz_imut

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the more popular the more valuable, that's for sure, because we can see from the beginning of the emergence of bitcoin, there is absolutely no price, even people don't believe in bitcoin, what's worse, many people say bitcoin is a scam, slowly but surely eventually bitcoin is starting to be recognized, and there are many people who hold bitcoin, as bitcoin develops and has become popular and people have dared to invest in bitcoin, the price of bitcoin continues to creep up..

Shenzou

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I don't see that bitcoin becoming more and more popular could lead to it losing value, bitcoin has a limited supply and there is no way that we can create more past that point, that means the the more popular it gets the less supply we wil have and the more expensive it gets, but my concern is what happens to the transactions i mean i don't think that the bitcoin network would be able to process the transaction at a short time making it a viable payment option, and what about the fees, the harder the bitcoin mining becomes the more fees the transactions will have meaning if i wanted to buy something from amazon for 15 dollars i would have to pay 5 dollars in fees and it would take more than an hour for the transaction to be verified.

Liamttw

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The popularity of Bitcoin will affect the value of Bitcoin. More users invest in Bitcoin. As time goes by, the supply of Bitcoin becomes less and less, and the demand continues to increase, which shortens the supply and increases the value. Many institutions and large companies are now buying large amounts of Bitcoin, and there have been many large transactions, which will also promote the continued better development of Bitcoin in the future.

kryptqnick

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Quote from: Robinson66 on August 02, 2021, 08:32:07 PM

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.

Amazon isn't accepting Bitcoin as payment, Tesla temporarily stopped accepting Bitcoin until the mining sustainability investigation is over, and Apple is going to accept BTC only indirectly, via accepting Coinbase debit card. The hype is real, though, and it does have temporary effect on the market.
Answering the thread name's question, I believe the general tendency of Bitcoin becoming as valuable along with becoming more popular is true. After all, it makes perfect sense because if Bitcoin gets more popular, the demand for it increases, and if the demand increases, the price increases as well. However, even though the amount of users is constantly growing, we still have the bearish market from time to time, so the price doesn't always correlate with popularity.

kotajikikox

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Quote from: Kusman on August 03, 2021, 05:02:12 PM

Yes, the popularity of Bitcoin is an important factor for it to be much more valuable compared to before. Because the popularity among the people helps Bitcoin adoption go on even faster. And this makes Bitcoin an even more valuable cryptocurrency.

yeah you only repeating what you are saying to make your post longer Grin

popular or not , bitcoin is valuable and expensive .

Quote

When it comes to the question about if it will be devalued in the future, I think that there is a possibility of course. There is no guarantee to survive even for Bitcoin. If people start decreasing their Bitcoin usage, it could even lead to the end of Bitcoin.

of course there is no permanent position , but the question is how long will it last and that is our main concern.

xSkylarx

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Quote from: ?? on ??

In simple terms, in general, all goods are produced with limited supplies, of course, these goods will have a high value if the demand is large, as well as bitcoin because the increasing popularity and adoption will make bitcoin even more valuable, and for now I think many people still use fiat currency to make daily payments instead of bitcoin, because they realize that bitcoin is better as an investment asset.

Agree. Law of supply and demand. Consider how cheap bitcoin was when it was first released. Now that the price is very high, it means that a lot of people have it, which is why the price has skyrocketed. Bitcoin as an investment is also very good, but before a few years ago, I would say that bitcoin is for payment because it is fast and easily trackable, which is why it was created, but now the main purpose of bitcoin is as an investment because we can't deny its price, which is very high and could make you very rich.

Kiley33

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Quote from: Robinson66 on August 02, 2021, 08:32:07 PM

Quote

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 definitely more and more valuable, so they don't need to exchange Bitcoin for legal currency.

Quote

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?

It depends on the policies of your local government.

Quote

Do you think Bitcoin will be devalued in the future?

I don't think so.

rodskee

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i think it is given ? just like how normal living goes , when the person ,items or service is popular then it will be surely more valuable.

the service fees will be doubled, the persons tip is worthful , and the items will price growing overnight .

so there is no difference in bitcoin or every investments purposes.

dansus021

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in future bitcoin will be more valuable if some companies do the same thing like tesla did, but using bitcoin for daily transaction is not an option bitcoin only have 1 mb block so its not suitable for daily transaction like buying something cheap like coffe buy bitcoin as an asset and using other digital curency for daily transaction

slaman29

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Quote from: Ararbermas on August 03, 2021, 02:29:40 AM

Correct, because adoption is one of the main reason why bitcoin is getting valuable in the space than other crypto currency, and that's why as well mostly enthusiast preferred to keep holding their bitcoin for long term because of that reasons. In fact not just bitcoin wherein all crypto in the market need adoption as well in order to increase their value in the market.. That's why new projects run a campaign to gain more attention from buyers and etc, because that's how it works.

Wrong. New Projects run campaigns to get more buyers and speculators, but this does ZERO for adoption. If you don't believe me, go to any altcoin group doing "campaigns" and find me one actual user. This means someone who uses the actual real wallet, and uses the token for its supposed utility, excluding trading/selling/buying/exchanging.

The whole reason why altcoins are called shitcoins is because they have no users. Just token buyers/holders.

Kusman

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Yes, the popularity of Bitcoin is an important factor for it to be much more valuable compared to before. Because the popularity among the people helps Bitcoin adoption go on even faster. And this makes Bitcoin an even more valuable cryptocurrency.

When it comes to the question about if it will be devalued in the future, I think that there is a possibility of course. There is no guarantee to survive even for Bitcoin. If people start decreasing their Bitcoin usage, it could even lead to the end of Bitcoin.

tippytoes

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Quote from: Renampun on August 03, 2021, 02:07:26 PM

Quote from: Robinson66 on August 02, 2021, 08:32:07 PM

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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?

devaluation is usually synonymous with fiat, so I don't think it will apply to Bitcoin...

bitcoin is a decentralized coin so price changes only occur when buying or selling increases, the government will not be able to manipulate the price so devaluation is impossible. Bitcoin is perfect and far from government interference.

This is one of the benefits when you are dealing with bitcoin, no single government has the full control of its circulation and no one will. So the market movement depends on the global demand and not only on single entity. No government can manipulate the price of bitcoin, and we are seeing that a lot of factors are contributing to this market, the reason why even if you are a long time crypto user, it is still hard to predict the price. Even those self-proclaimed experts, they can't get the right price.

Distinctin

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Quote from: pawanjain on August 03, 2021, 12:02:18 PM

That might be right in one way because the more number of people know about bitcoin the more popular it is.
Since more number of people are aware of bitcoin, it slowly gains traction and it's usage gets increased.
It creates a buzz and many people start buying bitcoin. This is how the price goes up increasing bitcoin's price.

I personally think many people buy bitcoin so that they can hold it as a store of value which is why we can see the long term holders still holding to their bitcoin.
Some people have even planned to hold bitcoin for the next 10 - 20 years. Even holding for long term increases bitcoin price because the circulating supply decreases hence increasing the price.

Once bitcoin creates huge demand from the people, its demand will increase and definitely it will be more popular too. So the price increase will eventually follow. But knowing how volatile bitcoin is, even how high its current price, it will still have chances to get dump again making its price lowered too.

However, if this popularity will lead to bitcoin adoption in the near future, i think bitcoin will have its fixed value or might even lowered its volatility when the time comes the government will have the control on it. Being decentralized might totally lost its value once the government started to control it.

Renampun

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Quote from: Robinson66 on August 02, 2021, 08:32:07 PM

...
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?

devaluation is usually synonymous with fiat, so I don't think it will apply to Bitcoin...

bitcoin is a decentralized coin so price changes only occur when buying or selling increases, the government will not be able to manipulate the price so devaluation is impossible. Bitcoin is perfect and far from government interference.

Dewi89

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Quote from: Obito on August 03, 2021, 10:38:28 AM

I would probably say that bitcoin isn't going to go away anytime soon, remember that it has persisted for a decade so it's not a likely thing for bitcoin to get devalued anytime soon, I mean you said it already, popularity of bitcoin is going to make it valuable and it seems that the popularity is only going up and has no sign of ever going down.

I think you are responding to the main topic antonymously because the OP said it was very enthusiastic to cite several topics to explain the adoption of bitcoin for the purpose of paying corporate salaries and others. The popularity of bitcoin will continue to increase and will not fade despite being restricted by current government laws.

pawanjain

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Nothing lasts forever

That might be right in one way because the more number of people know about bitcoin the more popular it is.
Since more number of people are aware of bitcoin, it slowly gains traction and it's usage gets increased.
It creates a buzz and many people start buying bitcoin. This is how the price goes up increasing bitcoin's price.

I personally think many people buy bitcoin so that they can hold it as a store of value which is why we can see the long term holders still holding to their bitcoin.
Some people have even planned to hold bitcoin for the next 10 - 20 years. Even holding for long term increases bitcoin price because the circulating supply decreases hence increasing the price.

Macadonian

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The more people that use Bitcoin the higher the demand which boosts its value its not the only thing that contributes to the price of Bitcoin but it is one of the driving forces behind the price of Bitcoin. This is why you should be encouraging your friends and family to use Bitcoin because it will help you and them in the future.

Topic: The more popular Bitcoin is, the more valuable it is？ - page 7. (Read 1469 times)