What if Bitcoin Never increases in "Value"?

theblacksquid

full member

Activity: 182

Merit: 100

Quote from: piramida on November 02, 2014, 02:02:51 PM

Quote from: Argwai96 on November 01, 2014, 11:09:15 PM

Quote from: Cortex7 on November 01, 2014, 10:22:07 PM

Having started to read more about OpenBazaar:

https://openbazaar.org/

I am thinking if these guys pull it off then it will be a killer app causing bitcoin to raise significantly in value.

They would need to be able to pull "it" off....as it make their marketplace be successful in order for this to be true. I would say that it would be a long shot at best due to the large number of scams they will likely see.

I think they have a pretty solid scam prevention in place. Won't stop people from trying, but will make it damn expensive to do so. In time, with provable ratings system expanding, it will be less and less a problem. Give it a year or two and it just might happen to be what ebay will never be, being heavily regulated and segmented - The worldwide p2p market for anything.

*THUMBS UP*

master sato

full member

Activity: 165

Merit: 100

BTC is more appropriate and efficient than cash in any transaction virtual ,this is the greatest "Value" of bitcoin for me

piramida

legendary

Activity: 1176

Merit: 1010

Borsche

Quote from: Argwai96 on November 01, 2014, 11:09:15 PM

Quote from: Cortex7 on November 01, 2014, 10:22:07 PM

Having started to read more about OpenBazaar:

https://openbazaar.org/

I am thinking if these guys pull it off then it will be a killer app causing bitcoin to raise significantly in value.

They would need to be able to pull "it" off....as it make their marketplace be successful in order for this to be true. I would say that it would be a long shot at best due to the large number of scams they will likely see.

I think they have a pretty solid scam prevention in place. Won't stop people from trying, but will make it damn expensive to do so. In time, with provable ratings system expanding, it will be less and less a problem. Give it a year or two and it just might happen to be what ebay will never be, being heavily regulated and segmented - The worldwide p2p market for anything.

o_o

full member

Activity: 132

Merit: 100

Some patience if bitcoin never increases in value. Bitcoin is born to pay and use money with a freedom system, not to make you and all people rich, so, never mind if bitcoin doesn't increase its value.

theblacksquid

full member

Activity: 182

Merit: 100

Quote from: Ghost55 on November 02, 2014, 02:56:01 AM

Well the way I see it is if they don't inflate the coin and there will only ever be 21 Million coins... As a Canadian that's not enough to give everyone in Canada a single coin let alone the rest of the world... SO if it makes it to mainstream adoption and everyone is using it... Getting paid in it... Buying their groceries with it... A single coin will have to be worth a shit ton and most people will never ever ever see a full coin not even if they throw their entire life's savings at it!! There will come a day when someone or many will say "You have a full bitcoin? You must be loaded!"

If all goes as we hope it does!! I'm guessing another 5 to 10 years!!

Cheers,

Ghosty

Having a set number of coins is the entire point of BTC to begin with. It makes sure the value cannot be debased by any fallible human and will always conform to what the free market thinks its worth. A single coin can be divisible into ten million parts! (1 satoshi).

Ghost55

full member

Activity: 126

Merit: 100

Well the way I see it is if they don't inflate the coin and there will only ever be 21 Million coins... As a Canadian that's not enough to give everyone in Canada a single coin let alone the rest of the world... SO if it makes it to mainstream adoption and everyone is using it... Getting paid in it... Buying their groceries with it... A single coin will have to be worth a shit ton and most people will never ever ever see a full coin not even if they throw their entire life's savings at it!! There will come a day when someone or many will say "You have a full bitcoin? You must be loaded!"

If all goes as we hope it does!! I'm guessing another 5 to 10 years!!

Cheers,

Ghosty

Fernandez

legendary

Activity: 1008

Merit: 1000

Quote from: MF Doom on October 31, 2014, 02:29:34 PM

Quote from: bitcoinbot on October 31, 2014, 02:25:54 PM

When valued against USD or GBP.

I know a lot of people believe it's gonna go to the moon.. or at least rise steadily into the 1000's of dollars and a lot of people believe it's a Ponzi scheme which will eventually leave Bitcoin worthless but what if Bitcoin does nothing, it just sticks around the £200 - £250 mark forever?

It certainly would make it more usable! If I buy some bitcoins today and dont get them for 4 business days (I usually use coinbase) I could end up with 10-25% less buying power. If price stabilizes, I think it ultimately would be good, although a lot of people are here ONLY cause they think the price will go back up

Bitcoin itself will never be stable. There will be other options which will be stable by design like NuBits and BitUSD.

If you are talking of somewhat stable like say gold then that will come through widespread adoption and will take time.

tins

hero member

Activity: 882

Merit: 500

Bitcoin's "inflation" is way too high to support current valuation unless adaptation expands at a rapid pace.
Good news is, it creates an amazing buy opportunity for us until this period of time runs out.
Buy what you can afford, it'll come to an end before you know it:
http://bitcoinclock.com/

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Then for the next 100 years we will hear "Bitcoin is dead" by the typical FUDster.

bitnanigans

sr. member

Activity: 266

Merit: 250

If the value never increases, then we'll have found a stable price, or the true value of 1 Bitcoin.

Argwai96

legendary

Activity: 1036

Merit: 1000

Thug for life!

Quote from: Cortex7 on November 01, 2014, 10:22:07 PM

Having started to read more about OpenBazaar:

https://openbazaar.org/

I am thinking if these guys pull it off then it will be a killer app causing bitcoin to raise significantly in value.

They would need to be able to pull "it" off....as it make their marketplace be successful in order for this to be true. I would say that it would be a long shot at best due to the large number of scams they will likely see.

Cortex7

full member

Activity: 238

Merit: 106

Having started to read more about OpenBazaar:

https://openbazaar.org/

I am thinking if these guys pull it off then it will be a killer app causing bitcoin to raise significantly in value.

Q7

sr. member

Activity: 448

Merit: 250

I still don't think that is going to happen no matter what others think

theblacksquid

full member

Activity: 182

Merit: 100

Quote from: Xch4ng3 on November 01, 2014, 07:06:48 PM

Wouldn't make a single difference to me.

I use Bitcoin because of the security it provides, not the value assigned to it. Yes sure it's a little bit hard to buy coins (you can use ATMs but at a high mark up) but if it means my credit card details won't be exposed when an merchant fails in protecting customer data then I'll deal with the inconvenience.

*Thumbs Up*

I read something that said (I can't remember where), that the DarkNets would use BTC as its currency regardless of its price, whether is $5000 a coin or $0.05, because its the only thing that allowed them to facilitate trade without having to use the existing financial system. n a large scale, this would really open up the rest of the world to online trade, not just card-totting members of the western world.

Xch4ng3

hero member

Activity: 661

Merit: 502

Wouldn't make a single difference to me.

I use Bitcoin because of the security it provides, not the value assigned to it. Yes sure it's a little bit hard to buy coins (you can use ATMs but at a high mark up) but if it means my credit card details won't be exposed when an merchant fails in protecting customer data then I'll deal with the inconvenience.

theblacksquid

full member

Activity: 182

Merit: 100

Quote from: bitcoinbot on November 01, 2014, 06:42:06 PM

Quote from: johnyj on November 01, 2014, 10:50:19 AM

Currency always fluctuates against each other, you can take a look at Japanese yen, which has lost 50% of its value in two years against USD and other major currencies

In the long run, there is only one sure thing: All the fiat money will losing value quickly, because the debt based money issuing will require exponential increase in debt and productivity, and eventually productivity will rise slower and slower (if bitcoin's value keep rising exponentially, the game could last another century or so)

Where do banks figure in all of this?

Central banks loan out money to their respective affiliate banks money that didn't previously exist in the money supply, devaluating the value of every unit of said money. (Federal Reserve's QE is the best example for this.)

bitcoinbot

full member

Activity: 357

Merit: 130

Quote from: johnyj on November 01, 2014, 10:50:19 AM

Currency always fluctuates against each other, you can take a look at Japanese yen, which has lost 50% of its value in two years against USD and other major currencies

In the long run, there is only one sure thing: All the fiat money will losing value quickly, because the debt based money issuing will require exponential increase in debt and productivity, and eventually productivity will rise slower and slower (if bitcoin's value keep rising exponentially, the game could last another century or so)

Where do banks figure in all of this?

bitcoinbot

full member

Activity: 357

Merit: 130

Well if the same amount of people sold bitcoin as those that bought the price would stay the same. If less people bought bitcoin than those that sold the price would decrease.
How is this preposterous?

hasherr

newbie

Activity: 18

Merit: 0

Its funny how everybody wants to became rich by investing in bitcoin. Bitcoin will go to the moon and i will sit on my ass for the rest of my life, living off my 3 bitcoins. If you live with this kind of mindset, sour times await you.

jonald_fyookball

legendary

Activity: 1302

Merit: 1008

Core dev leaves me neg feedback #abuse #political

The question is preposterous.

1. It's increased already from
fractions of a penny to hundreds
of dollars in a few short years.

2. How could it NOT increase in value,
given the limited supply?

Topic: What if Bitcoin Never increases in "Value"? (Read 4627 times)