Topic: Why bitcoin will appreciate forever - page 7. (Read 20115 times)

umm, so youre saying the existing people who hold bitcoin, go buy an extra coin?

this is what day traders do, if they make profit in trades and buy back in cheap. But, as for the focus part of leaving their jobs most are relied on paying the bills with fiat form so focusing on bitcoin entirely must mean that person is financially already secure.

bitcoin is to volatile to leave a job for it.

Bitcoin is not a private currency true, but it should be looked as a money transmitter.

The blockchain is a public ledger obviously, but you can do services like bitmixer or any other mixing services that removes all those transactions to harder to follow making "underground" becoming a financial privacy.

you can simply buy less, which will have the same value as the same amount you are willing to buy now, the ratio will always be the same if you want, unless something stupid and unrealistic happens, like for example 1 satoshi = $1k...

Taking everything that I know, it`ll appreciate forever due to the hard code.

Also the fact it serves multiple areas so it has more chances to appreciate more then one direction. Some people see it as a priceless money transmitter like I do and can see it used by the poorest countries to do commerce.

Others also see it as "commodity" aspect and that this will traded as some form of foreign debt as well.

You never hold something that has a long term depreciating future as a store of value (like fiat money). If it is always appreciating long term wise, then you can buy it any time and be assured your savings are safe in future

Why do you want bitcoin to keep appreciating as it will cost more to purchase them?

The problem I see with altcoins is that they all cause inflation in cryptocurrency world, thus people lacks long term incentive to hold them: If today I start to inject part of my capital towards Monero, then those added Moneros will dilute the value of bitcoin, and what will happen to my monero's value if tomorrow there are even better coin Monexo, Moneyo, Monezo, etc... So it is better we just upgrade the bitcoin protocol to include the best features of Monero if they really are appreciated by most of the community members, and refuse any monetary inflation in crypto currency world

well.. as we know... if we get many BTC we can get money too....
as much as we can. and we can be billion people if we get more than 5000BTC..
everyone who not want to get money with make some post,,, and maybe some half of around people want to leave their job to focus in bitcoin..
caus if we really seriousely here, we can get much money more than but absolutely is an subjektif with we are effort. more than we work more than we get btc and more han we get the money.... so thats is my opinion wy bitcoin will appreciate forever.

That's the same problem with any currency; we can't help that other currencies aren't anonymous.   Ideally a Monero economy will eventually emerge so that people *do* get paid in Monero and spend it too. 
  
And financial privacy is not "underground".   Bitcoin is inherently flawed as a currency.    
  
Consider this: if the original bitcoin had truly private transactions built in, by way of cryptographic ring signatures...  Would anyone ever consider it an upgrade to remove that feature?  
  
Of course not.

Monero will always remain an underground currency. Now this doesn't mean it cannot be a big success, underground economies are huge specially in poorer countries where people simply cannot afford paying taxes. The problem is unless you get paid in Monero directly it stops being as anonymous.

True, both holding and transaction will have the same effect on money supply: Make some amount of money occupied from other's access. But holding have a much larger effect. You must spend $2000 every month to make those money occupied, while you only need to hold them to make them disappear from circulation for a long time. Normal people seldom spend $10K every month, but having a saving of $10K is not so difficult

But following this path, you will see that banks printed 1000x more money, where 90% of those are being hold in long term storage, and the rest 100x USD depreciated 100 times, so that the economy does not grow at all. Maybe this is the truth, because the time for anyone is always the same, and most of the people born with nothing and die with nothing, what they did during their life time is irrelevant

Well I think the demand to hold, not the demand to trade, is the source of the money value, so the danger of price inflation is high. But there is also the debt money, which can contract.

 
 
When you wrote this, we didn't have such a coin.  Now we do. 
 
Monero is destined to be the global private ledger to bitcoin's public ledger: 
 

http://www.tradingeconomics.com/united-states/money-supply-m2
You can google some numbers for US money supply. M2 is around 16 billion at 1913, and at 2013 it is around 12 trillion, so close to 1000 times increase, but if USD only becomes 1/100 of its initial value, that means for each 10x more money created, price level only increase by 1x.

The reason is: Although the money supply increases, the demand for money for trading goods/services also increased, so the goods and services production and consumption increased by about 10x. In one century, the industry output increased by 10x, banks printed 1000x more money and devalued those money by 100x in the process

Since the change in M2 and price level is just several percent each year, I don't think you will see a significant Cantillon effect any time. That's the rule that inflation should never increase by more than 5-10% per year, so that average people will ignore that change. However, the increase in base money supply becomes too dramatic since 2008, so what will happen now is uncertain

But my guess is, as long as those money are in the hands of banks, they can control the money in circulation, thus create inflation or deflation at will. Those rules in economy books are only a small subset of the giant central bank game, they can make things works like those books described, but they can also change it at will. At central bank's level, it is all about market manipulation, but they do it with certain risk

Nothing lasts forever and many are waiting for BTC to take off again.

I think Bitcoin might start appreciating more once it can no longer be mined, or the buyers per mined coins increases..so as more and more people invest in bitcoin and less and less coins are being mined then we may see another big trending upwards. I don't know but that's how my little logical brain would put it. Just my 2 bits.. 

Maybe there is a technology advancement in bitcoins which lets the market know how many individuals are actively using bitcoins, on a regular basis. If we try calculating it by the price of bitcoin, we will never know the answer. If we know the total amount of bitcoins till now, then we might narrow down perspectives but it would still be a long and horrifying task  and possibly leave unverified answers.

I think the price reveals the combination of number of users and their eagerness to hold. Maybe that is the number you want to predict, so that doesn't work.

So do you think there is any way right now or maybe in future to know how many people currently use bitcoin? Knowing their value and their possession or even their identity is not the motive, finding out the true number of users is the only motive. I was thinking of a poll which collaborates with wallet providing websites but I don't think anybody will care to fill, and we can't force users. Also, who knows they might put false data too.

A mass survey would be good, but I eye methodical problems, because there are differences in adoption per country, line of business (IT), social rong, and political (the statists are eagerly uninterested). Even asking everyone, could pose problems, since there would be communication problems.