Topic: What would be your stance if Bitcoin price was individually negotiable as a P2P (Read 238 times)

The free market lets you to sell your goods for whatever price you want to set, whether other people want to buy your stuff for that amount is a completely different matter, this process in which sellers and buyers find an equilibrium among themselves is called price discovery, and it is why the price of everything is always changing, including bitcoin.

Besides just as there are people that wished they had sold their bitcoin for a higher price, there are many other people that bought at a bad moment and wish they had not done so, so there is not point on regretting selling for a price that was too low since there is nothing you can do anyway.

Even if it's negotiable, the price that someone will allow themselves to sell their bitcoin or buy a bitcoin will always be closer to the market price so there's really nothing that changes even if that's the case. And wouldn't the P2P also the cause for the market prices to move right? So even if it's going to make it negotiable, there's no way that people are going to sell it much lower.

but.. if i moved my hoard.. no one bats an eyelid
if someone moved their 2009 mined coins.. it provokes a reaction
people do look at each coin differently

heck fiat is like this
if you get money at christmas from a relative the authorities do not care
if you get money from a drug dealer. the authorities do care

$10k from an employer is treated differently than $10k from relative, vs $10k from pension, vs $10k from selling a product vs $10k crossing a border

in bitcoin a fresh mined btc is differently than a blacklisted btc that was on silkroad and then went through a mixer. authorities do watch for these

if 1btc=1btc then mixers would be redundant and not used.. so why so much advertisements that mixers are needed

funnily enough i find those promoting mixers as scammers. wanting to lose their dirty coins onto innocent people they scam by saying all coins are the same to scam innocent people into giving away clean coins to someone handing them dirty coins
end result is innocent people told btc=btc get fooled into swapping, thinking there is no harm. but end up holding dirty coin and end up getting questioned and investigated if they use their now collected dirty coin with a service that watches for dirty taint

in short if someone says 2 statements together. they are deceptive
a. btc=btc (meaning mixers are not required as all coins are equal)
b. promote a mixer service and say even/especially innocent people should use it

Do take note that even if it is already publicly traded in the market, we still feel regret for selling our satoshis.
So for me, there's no difference if you are using an exclusive p2p trading.
Because for aure, before you execute the order, you will also check the current price rate of this currency. It may deviate from the general price  but you have considerations of time and price rate at the time of trade.

Yes we will always feel that regret no doubt about that. But as long as we are satisfied with our decision it is easy to accept the fact that it has happened and we need to moveon. That is why we improvise just because of that feeling.

Instead of regretting buying Bitcoin P2P, it's better to buy Bitcoin on an official exchange. At least, we get a normal market price even though there is a possibility that the price will decrease after we buy. But we can avoid scammers who want to take advantage of this.

But people are free to buy and sell their Bitcoin wherever they like. Whether buying and selling using P2P or continuing to use the exchange as they have been using. So people will choose where to buy and sell Bitcoin based on convenience.

Those who buy and sell Bitcoin using P2P also follow the market price as a basis. Even if they raise the price above the market price, that's okay because some people will buy and sell their Bitcoins to them.

You are right @Mpamaegbu. After a time of regrets there could be a time to be proud about
 Basically that could also be and when the time of "Had I Know" went South.
A lost opportunity of todays could be an opportunity for a better tomorrow.

I think the short term Investors would feel madness out of such because it might not be an intention to hodl longer than after an opportunity has passed-by without considering patient as a breaking through keys for better days are ahead.

There is a difference between saying that someone wants to sell 1 bitcoin for $44,000 and insisting on that, and another person wants to sell for $50,000, and the value of 1 bitcoin withdrawn from Coinbase being different from 1 bitcoin obtained from a coinjoin wallet.
P2P can give Bitcoin more than one value, and the values may be completely different from the current average price, but 1 Bitcoin is always equal to 1 Bitcoin. If someone tries to convince you otherwise, do not buy from him, as he is scammer.

As humans, it's normal to have that "Had I known" moments. That's life for you. Nonetheless, those who've express such should also factor in what could also be the reverse of their action if it went south. Only a few recognize that. That's when they say, "thank God, I sold earlier" If anyone will dwell on "had I known", then they shouldn't have any business being in business.

If you've the inkling that exchange rate will rally up or Bitcoin price will increase within a few hours after you've sold, it's better to hold on and not sell immediately. Every trader or investor is happier if they can get more out of something. However, you can only successfully do that when you aren't pressed for cash.

In this scenario, the bitcoin price would differ based on the local group. Where the mining cost is lower the price of bitcoin would be lower there and in places where the mining cost is too high people would prefer to buy bitcoin from those regions where the mining cost is low. There would be a high spread in bitcoin price. Bitcoin would not be this well know and popular if people from all over the world can not buy or sell bitcoin in sceondary market.

if bitcoin was individually negotiable as a P2P

you would see that in the pacific islands (japan/hawaii) electric cost of mining is multiples more than eastern EU/slavic/west asia

right now a group of miners can mine btc at $25k/btc
right now a group of miners can mine btc at $140k/btc

so you would see different peer groups in local area's negotiating at different local rates. and then doing deals internationally to take advantage as middlemen between localities

(numbers not accurate, just rough guide based on electric prices of regions+hardware)

Bitcoin isn't a sort of assets where you can see some fracture that can make the price to be negotiable. It's not like gold where you could see some having some impurities. You will see some have rating of 99% purr gold and some having some metals combine with it and such aren't price well. If you have a kg of that, you can't sell at the rate with the one that is pure but bitcoin doesn't exhibit that characters, 1 bitcoin is equal 1 bitcoin.



I don't know that stock you are talking about but even in trading, there is order book where traders set there trade and everyone set limit in accordance to what they wish to buy. Logically, I think we have that in trading because if you scroll round the order book or buy and sell, you will see that some traders has orders in around $5000 per bitcoin, it's funny as you said but try and look into it and you will be surprised that this orders exist in order book.


Value is in the mind and subjective but I think Bitcoin is rare and that is why it doesn't get priced like the way other assets can be price on. It's rare and something like it has never been done. IMO if not for the government hates toward this assets, the growth would have pass this level.

It is still happening right now. Binance's P2P feature lets sellers put their price on each of the coins that they own. Some are willing to go 5% lower than the daily trading average, while others are posting 1-3% above it. Of course, people would surely choose coins that are priced lower than average, but that's extremely rare even if it's a rush sale.

If I had a considerable amount of bitcoins, I'd probably be one of those people who will try to keep my prices on the higher side of things. I may not end up receiving cash for it, but at least I know that its price will continue to appreciate over time even if there will be no buyers for my coins.

It doesn't matter what is the exchange of our item, but it was always the seller who sets their price. The buyer is only the one who negotiates but it was still up to us if we will agree with it or not. BTC supply is limited and it was valuable. You may not be the only one who will sell it but there are only a few people who does, so its price will also be more valuable than a regular currency, most especially if it was deteriorating already like the Venezuelan Bolivar.

There are still assets apart from BTC that Venezuelan people can invest. But, the only thing about them is that they are not dual purpose as BTC where it can also act as a currency for immediate spending/use.

That sort of depends on the amount and the buyer/seller as well. I mean you think someone buying 1 million dollars worth of bitcoin at OTC markets would have to pay a 10% markup? Of course not, but when yo udo it for 1000 dollars, that is a very big possibility, so it all depends on the amount. If I go to someone who already is a very wealthy person, and ask to buy a million dollars worth of bitcoin that they have, they may charge me only 10 grand, they do not need much anyway, and feel like that is enough.

However, if I need to sell my coins urgently, and someone who doesn't need it, ends up taking my money would ask for a lot of markup. Whereas, if I have enough, and someone is selling urgently, like I am on the other side, I could get the markup to be much lower, even profit from it. It all depends on the situation.

P2P orders are priced against ongoing market prices, you cannot "name your price and get away with it".

Most of the OTC deals going on are also at 10% markup. P2P dealers are not going to loss positions after selling, so you can assume the same type there too. That "Had I known" has very little effect here.

But there is also the fact that 1BTC = 1BTC, so why vary the cost when speaking in terms of USD? This is because of lack of liquidity of bitcoin compared high liquidity of fiat.

Supply and demand is what creates value for the price. If I am the only one who sells Bitcoin in exchange for, for example, the Venezuelan Bolivar, then I will certainly be the one who sets the price if there is high demand. Also, the possibility of there being expected inflation for its currency will make investors prefer to invest in Bitcoin, even at a price higher than the market price. For fear of a decline in the value of the local currency, which happened in Turkey when exchange rates were changing daily, the average selling price of Bitcoin against the Turkish lira was much higher than the real exchange rate.

But this isn’t any different from how trades happen today. The only difference is that what you’re saying is P2P so it does go directly from the seller to the buyer. But don’t forget that just as they decide their price in P2P, people set their sell price on exchanges. If you set your price at $100k, someone will set theirs at $90k and some even lower. Buyers will still go for the cheapest possible. So it doesn’t really make a difference.

Bitcoin is a currency and currencies are supposed to have an exchange rate. It can slightly differ between different exchanges, but only slightly. Although I remember seeing some exchange services that offered the price wildly below the market, like 30% lower, but I don't know who would even use them - probably some newbies who just stumbled upon them on google without doing proper research. But most people who are selling BTC will be looking for the most optimal price, so the price in general will always converge between different exchanges.

I am not sure what has anything to do with the trust and reputation of Bitcoin if the traders are allowed to negotiate the price. Price negotiation is a very normal process in trades. P2P platforms did not have such options just to streamline the process and make it transparent for everyone. This way they can ensure that traders get the fair value out of their trades.

But surely it has nothing to do with the trust and reputation of Bitcoin. It's a free market and given a chance people would love to negotiate a better price than market and that's quite normal.