Topic: What is a bitcoin REALLY worth? - page 10. (Read 1433 times)

The value of bitcoin is determined by how desperate are the people,who want to buy bitcoins.
Other people are talking about supply and demand.They are right,but i have other point of view.
If there was only one buyer of the entire btc market and that buyer is willing to pay 1 million US dollars for one bitcoin,the market price of one btc would be 1M USD.Sound`s crazy ,but it`s true.
It`s like buying a rare painting.Some buyers are willing to pay 100$ ,others are ready to pay 10 million USD.

Bitcoin doesnt have a price stability it depends on the movement of the market and also in Supply and Demand thats how bitcoin worth.

There this little known principle that doesn't seem to be taught any longer.  It's called Supply and Demand.  That is how Bitcoin price, and the price of everything else for that matter, is set in this place I like to call the real world.

I see the whole thing that has been going on all year with the price of bitcoin, and how it was from way back when it started.

And I have to wonder, when will it end?  Will it keep going up and up, will it level off, or will it just one day suddenly crash and burn like HilLIARy Clinton on election day 11/8/16?

What sets the price?  How do we determine the price?  As near as I can tell, we get our belief of price from the exchanges.  The exchanges say a btc was worth 3000 last month, 5000 last week, 7000 today, etc, and we all just blindly go along with it and base our transactions off of that.  That's how many US Dollars you can get for a bitcoin, and really, what else matters?  Btc could be a million dollars or ONE DOLLAR tomorrow, and everyone would just be going "well, that's the exchange price".  And if that's the amount of money you can convert your bitcoins to dollars for, then that is it.  The exchange won't give you more.  A private buyer you meet in person won't give you more.

With institutional money, bitcoin futures, and hedge funds starting to invest in bitcoin, I think that'll bring more stability and a future to high bitcoin prices.  But we are still dealing with an intangible asset that exists only in computers, so there's no real reason to support these high prices other than "Well, that's what you can buy them for on the exchanges".  Or "That's what the futures market / hedge fund prices them at".  It is BELIEF of the price, and nothing else.  At least with a bar of gold, you can do something with it, no matter what its price is.

Will btc be around for a long time at big money, or will they be the Beanie Babies of 2018?

Will Antminer S9's still be sold on ebay for over $3000 by greedy bastards who were able to place large orders with Bitmain and are now simply reselling them for sheer profit?  Or will used S9's be going for $300 a year from now?

It seems that most of you don't remember me, or were not here in 2013 / 2014.  I repeatedly warned people over and over not to buy ASICs based on the btc price at the time.  And I was 100% correct in my assertions.  And even in 2015 - 2016, I was still correct that ASICs were a bad investment.  It was only with the huge rise in bitcoin prices this year that significant profits could finally be made, but where and when will it end?  Banks are beginning to understand the concept of the blockchain and how it can make their transactions more secure, but that means nothing for the price of bitcoin or any other coin.  Banks don't need any coin to be successful to implement the blockchain idea in their own transaction histories.

People say that bitcoin can replace cash.  Well, I wouldn't go that far.  I see bitcoin as a way to get more money, more US Dollars.  True, a piece of paper may not have much other than the US government backing it, but that's better than a group of coin exchanges, mostly based in other countries saying what my coins are worth.  Gemini is the only licensed, regulated, US based exchange that I would trust.

So what's in store for bitcoin prices in 2018?  And the question that should be placed above all others is, "How much money can I (and I mean ME, not you) get out of bitcoin?".