Topic: Why bitcoin will appreciate forever - page 2. (Read 20094 times)

Bitcoin relies on utility for its worth and its always possible some alternate does occur, an open free market is going to promote competitive and efficient innovation.   BTC might always be the best but just being the first wont always be enough, history shows that.    Saying that it could be 20 years as a standard, we dont know I just wont assume crypto is always going to mean BTC.    I generally agree alot of the alternatives dont compare now or some of the biggest arent even decentralised so are quite similar to digital money or FIAT.

Not all of them though since there are some that just stop.

As there are a lot of people earning profits, taking advantage of the movements happening; there are also those people that are having a hard time with the volatility of this cryptocurrency. It will not always give hope and it will obviously not make people rich especially if you are just sitting on the wave not doing something to make an impact.

To my opinion not ETH or any other coin will replace Bitcoin, at least not soon.
Due to different reasons new coin in order to replace Bitcoin should be more advanced, not just have better or bigger value. So, basicly it should be developed on a technology that could solve some issues that Bitcoin currently has and that is not easy. Also, it shouldwill have better adoption and implementation in real world.
So I guess Bitcoin will remain at the throne and that will not change, no matter the fact that new coins appear all the time.

I think OP meant that its only a matter of time when bitcoin will be appreciated worldwide by most of the people.
Even if bitcoin itself won't become next fiat currency, but it definitely will be one the cryptocurrencies anyway.
So in this case bitcoin will stay in history as first crypto no matter which crypto will be the most popular in the end of the day

Bitcoin will be appreciated forever because this is the big digital money that many people change their life. Bitcoin can give us hope and many people are getting rich because of bitcoin so many people appreciate bitcoin because this is the most popular crypto currency.

indeed if we already feel the benefits of bitcoin, then we will be able to appreciate bitcoin more. many people are glassy quickly in this business. so that it attracts others to invest, so if we want to get money, I think learning about the moment will be better, than we only bet expecting a lot of return

In my own opinion, we should not care about other people's opinion about bitcoin if they don't like it or don't want to use it for their daily lives because it really does not affect any of our income. But i think bitcoin will really be appreciated by the people who experienced bitcoin's greatness which it is one of my best experienced in my life that it really helps me to gain money that i didn't recieved from my job today.

Indeed, not everyone like bitcoin but it for those who didn't know bitcoin and cryptocurrencies as a whole.

For those who knows bitcoin and cryptocurrencies I think it will be hyptoricate to say that he doesn't like bitcoin.

As you may know, can you compare how the price bitcoin with anither altcoin? You can compare with the higher price altcoin as an example and its different will be much.

The bitcoin before is just created because they want to make all the things digital and they did not expect that many people make a lot of investment and support this coin. Time by time the number of people increasing to make a lot of contribution to this coin and on the year of 2017, the price of the bitcoin shows it's largest market profit and there are a lot of people getting curious about what does the bitcoin can do more. By that people still support the use of bitcoin because they want to earn more. After the bitcoin give a profitable value it comes down again because of the law of supply and demand and also the halving is coming so they wait for the highest peak of the market again. As an investor, it is better if we always grab the opportunity to make more earnings.

Just check back today, after almost 7 years after my initial simulation, most of the theory and prediction still holds

The biggest uncertainty might come from the possibility that another coin might replace BTC as the main crypto. Currently Ethereum with its growth in defi might turn the table.

However, ehtereum does not have a limited supply, and its supply might get exponential increase in future, so the prediction might not work, and just because of this, eth is difficult to overtake BTC as long term investment candidate. It is possible that long term investement prediction of BTC still holds, but ETH become the new star because its full stack of financial magics

Another interesting discussion: https://www.reddit.com/r/Bitcoin/comments/3zql53/bitcoin_isnt_supposed_to_be_backed_by_anything_it/

When people are talking about backing, they are afraid that a currency is going to lose its value, so they need some powerful organization to guarantee the value of their currency

However, even the value of fiat money fluctuate a lot in foreign currency exchanges. A fiat currency can be shorted to worth a little on FOREX if their central bank do not protect its rate. So eventually all the currencies' value is backed by the central bank's foreign currency reserve

Similarly, bitcoin's value is backed by millions of bitcoiner's fiat money reserve. When bitcoin exchange rate drops, they step in and buy bitcoin to raise its value. And this backing is purely driven by their trust and long term positive expectation of bitcoin

You can regard bitcoiner's fiat money as unlimited (comparing with bitcoin's relative small market capital), but they won't blindly buy at any price. Their support mostly come from two psychological level: The first is the mining cost, if coin value is much lower than mining cost, they will buy. The second is the reward halving every 4 years which approximate to an average 19% value increase per year, so if coin performance dropped below this level, they will consider buying

Eventually the mining coin supply will shrink to zero and the most significant daily coin supply will be replaced by the spending from existing holders, but that is another decade away. And because nothing can force the existing holder to spend their coins unless a super increase in its value, so I guess the coin supply will be less and less on market anyway

Just only 2 rules for participants:

1. Buy some coin and hold at least 4 years (until next reward halving)
2. Start to sell 10% of those coin each year

Then they will at least double the investment in 4 years and beyond

Of course, there will always be people don't follow this recommendation, for example when they saw their coin have doubled in value, they would immediately cash out every coin, thus cause a small crash of the price, but then if they want to enjoy this return year over year, decades over decades, they would eventually need to buy it back at some stage, and maybe they sold it too early, or too late, and have to buy it back at higher exchange rate later... Market timing is very difficult, so why don't follow the rule and get a secured investment return instead of against the rule? Furthermore, when lots of people are acting against the rule, they destroy the anticipated supply demand relation, and might get the price to crash hard, what is the benefit of that?

Sorry mate. When I read the topic, I misinterpreted "everyone". I think that he meant everyone that bought Bitcoin. I interpreted it as everyone in the world. Sorry about that.

It will because we live in an economic model of eternal inflation.

Money will devaluate more and more every day, forever, so BTC price will have to increase or go straight to 0

Maybe that bitcoin won't be appreciate it forever, but I think he means those people who use bitcoins that they wull appreciate it.
I like bitcoins and it will always be appreciate it for m, because I have make a lot of profit with it.

What are those counters (or at least some of them)?

It's not necessary for everyone to "like" Bitcoin. What matters, and what the OP showed, is that a deflationary asset (like BTC, gold) has a "head start" over non-deflationary assets (like USD, CNY, EUR, etc) - even if demand is static, supply is still diminishing:

Bitcoin is not always going to appreciate. There are a lot of counters to what you said. Not everyone likes Bitcoin, you do realise that right?

Yeah lets just hope that in 2016 bicoin will just make more people happy and that more people will use it and more company's will adopt bitcoin. I wish that it 2016 there will be more atm for bitcoin, but I think is to expensive to build it.

But the beauty of it is that those rules are "baked into" the system - supply falls over time, regardless of the investment strategy Joe adopts. Note that whatever approach Joe takes, the graph still shows the daily supply of BTC decreasing over time.

As per speculation There less opportunity to crash to below 200$. and Price will not constant It will be zigzag as it. But we can see and expect good market rate for bitcoin in the year 2016 and ahead. because increasing the adoption rate of bitcoin.