Topic: The price of BTC needs to come down - page 2. (Read 4407 times)
Because there's a client release with reduced minimum transaction fee?
The current transaction fee is a pain but that will drop soon.
I haven't found much information about fees. Care to explain in a couple of words why do you think fees will drop? Thank you.
Although the stability thing kind of does matter - currently, you see places tying payments to x dollars worth of BTC, using MTgox exchange rates!
I guess it's more of a milestone once peopel stop pricing against dollar though?
I guess it's more of a milestone once peopel stop pricing against dollar though?
kind of like saying we should raise the value of the USD because its easier to pay for bread with a nickel than it is a dollar.
you know, in japan, a car can cost 2million Yen.
you know, in japan, a car can cost 2million Yen.
Generally you make a lot more smaller purchases than you do large ones. So it makes more sense for BTC to be worth less, and be stable.
Situation A:
You own 0.1 bitcoins and the price of a cup of coffe is 0.05 bitcoins.
Situation B:
You own 1 bitcoin and the price of a cup of coffe is 2 bitcoins.
Do you realize you have more money in situation A than in siutation B, right?
The nominal value of money does not matter (transitions between nominal value is another issue and do matter becuase the market has to adapt).
Generally you make a lot more smaller purchases than you do large ones. So it makes more sense for BTC to be worth less, and be stable.
It would be extremely tiresome to carry around 0.1BTC or even less all the time for smaller purchases.
How would that be anymore "tiresome" than carrying more bitcoins worth less value? It's the same thing. The current transaction fee is a pain but that will drop soon.
For Bitcoins to be used as an actual currency to buy goods other than the few BTC shops online, the price needs to come down. At the moment, it's 1 BTC = $21. It would be extremely tiresome to carry around 0.1BTC or even less all the time for smaller purchases.
Once it has come down, hopefully it calms down and doesn't skyrocket again otherwise there's no hope to get it used as a currency by major corporations. Heck, not even major corporations but anyone.
Once it has come down, hopefully it calms down and doesn't skyrocket again otherwise there's no hope to get it used as a currency by major corporations. Heck, not even major corporations but anyone.
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