Topic: "The price of your bitcoin is 1000 times overvalued" - page 6. (Read 29077 times)
Sure but the cost of mining bitcoin speaks something else, in average you'll need to invest $2000 and earn it back after 2 month and profit from there forward, basically it is more logical to buy bitcoins rather than investing in mining hardware and start mining and only then you'll need the cheapest energy cost as possible to ROI faster than 2 moths.
Who can say that Bitcoin price is overestimated? It's the market and the factors that influence it who deteremines the Bitcoin price. Price is volatile and changes all the time and despite some theories I don't think the price could be deliberately manipulated. Besides, I don't think that high value could harm Bitcoin.
As a long time Bitcoiner, honestly, I do not want to see the price of one Bitcoin too high. It will keep average human like me and many others out of the game. It will only attract investors who will hold onto the coins for long term and hence no average business will accept Bitcoin. It will be more like stock and not a currency. However, at this point in time, I don't think Bitcoin is 1000 times overvalued. This is the prefect price for Bitcoin - around 1000 USD per Bitcoin.
(Just my personal opinion).
(Just my personal opinion).
bitcoin has been around for 8 years and so far there has been 100 years worth of bullshit about it and its price.
if we want to start reading all there is out there talking about price, speculating without knowing what speculation means and how price of bitcoin has been rising so far, we will get our heads exploded.
and it is so funny seeing people who have never even seen a chart in their whole lives talk about bitcoin price future!
if we want to start reading all there is out there talking about price, speculating without knowing what speculation means and how price of bitcoin has been rising so far, we will get our heads exploded.
and it is so funny seeing people who have never even seen a chart in their whole lives talk about bitcoin price future!
the guys that say its 1000x too expensive.
are the ones with only $1000 to their name wished they bought at $1 so they would later be millionares when they scream for it to be worth 1000x more after buying.
the guys that say bitcoin should be 500,000 are the ones that bought at probably $500 and are screaming for it to be worth $500k to then be millionaires when buying only 2btc.
i have seen this in the past.
many peoples 'future price' valuations are usually linked to what they hold or wished they held. and then calculated to a future profit of $1mill
EG someone screaming bitcoin should be $33k each probably only has 30btc
i dont know where this mindset came from but many people i speak to have this "i wanna be a fiat millionaire" mindset.
not realising by the time they become fiat millionaires. hyper inflation will only by them a loaf of bread with it.
i do laugh at those that only care about a future FIAT value while pretending "banks are bad, governments are bad"
are the ones with only $1000 to their name wished they bought at $1 so they would later be millionares when they scream for it to be worth 1000x more after buying.
the guys that say bitcoin should be 500,000 are the ones that bought at probably $500 and are screaming for it to be worth $500k to then be millionaires when buying only 2btc.
i have seen this in the past.
many peoples 'future price' valuations are usually linked to what they hold or wished they held. and then calculated to a future profit of $1mill
EG someone screaming bitcoin should be $33k each probably only has 30btc
i dont know where this mindset came from but many people i speak to have this "i wanna be a fiat millionaire" mindset.
not realising by the time they become fiat millionaires. hyper inflation will only by them a loaf of bread with it.
i do laugh at those that only care about a future FIAT value while pretending "banks are bad, governments are bad"
He is just speculating. Just like the other guy who says that "it will reach 500k$ in the future."
For now, people believe that it's price should be around 1200$ and it can either go to 500k$ or 1$ in the future. All of those are possible. The bad thing about bitcoin is that it's open source. That means it not unique. Any altcoin can do the same thing as bitcoin. Ironically, being open source also makes bitcoin what it is now and makes it powerful.
For now, people believe that it's price should be around 1200$ and it can either go to 500k$ or 1$ in the future. All of those are possible. The bad thing about bitcoin is that it's open source. That means it not unique. Any altcoin can do the same thing as bitcoin. Ironically, being open source also makes bitcoin what it is now and makes it powerful.
I think the economist is correct! Bitcoin itself is intrinsically worthless, just like seashells are worthless but were used as money in the past.
Bitcoin is now worth >$1000 just because it has gained acceptance by more and more people- this is where its value lies.
Bitcoin is now worth >$1000 just because it has gained acceptance by more and more people- this is where its value lies.
I don't agree with him that bitcoin is overvalued in terms of price because we can't get to this price point if there is no real support from the users or investors of bitcoin. Bitcoin is a controlled free currency and its price is always depending in the market so there is no proof that bitcoin is really overvalued.
If bitcoin is overvalued then there is a lot of bitcoin users, holders and investors are doing panic selling because the price is not stable when overvalued. So i highly believed that bitcoin is not overvalued and it deserves what its current price now.
If bitcoin is overvalued then there is a lot of bitcoin users, holders and investors are doing panic selling because the price is not stable when overvalued. So i highly believed that bitcoin is not overvalued and it deserves what its current price now.
how much does a bitcoin worth?
Some say:“Worthless. It’s just a Ponzi scheme.”
Some hail:“Priceless! It’s the future of money.”
A Chinese economist Ou Chengxiao, often nicknamed”Ou Guru” said yesterday "The price of bitcoin is 1000 times overvalued". He believed that the value of currency is decided by its scale of circulation, or adoption. But now the lack of businesses that accept the digital currency as payment has been holding bitcoin back from wider adoption. not so many people are buying things with btc.
i am a little confused why he is so sure bitcoin price is 1000 times overvalued. why not 100? 10? why exactly 1000? Do you agree with him?
Some say:“Worthless. It’s just a Ponzi scheme.”
Some hail:“Priceless! It’s the future of money.”
A Chinese economist Ou Chengxiao, often nicknamed”Ou Guru” said yesterday "The price of bitcoin is 1000 times overvalued". He believed that the value of currency is decided by its scale of circulation, or adoption. But now the lack of businesses that accept the digital currency as payment has been holding bitcoin back from wider adoption. not so many people are buying things with btc.
i am a little confused why he is so sure bitcoin price is 1000 times overvalued. why not 100? 10? why exactly 1000? Do you agree with him?
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