Topic: Why Bitcoin's Current Price Doesn't Matter [Video] (Read 1141 times)

and yes i agree that with more exposure means more high price

sorry about the emoticon

users.. merchants.. 2 different words

in 2009-2010 growth was slow as it was just a small curiousity between crypto geeks. but when the bitcoin pizza and alpaca socks, silk road stuff started it jumped big style, 10,000% then it slowed down to 400%, 200% as the whole silk road propaganda new events started making normal people shy away, yes there was still good growth of 200% but mostly from drug users. now we are starting to see bigger 'normal people' growth again now that positive news is appearing. hense why i guestimate a 500% growth before this time next year and an even more massive growth the year following.

but the main thing to realise about my last post is the word EG... its an example. so no need to knit pick or to treat as gospel!!!

jason (op) referenced the bitcoin 101 video http://www.youtube.com/watch?v=qHUPPYzzZrI which talked about a 5 year pattern when the verticle spike happens. i do not think this should be 5 years from 2009 as i do not see that as the 'public release' i think that it should start from 2010 when there were non-geek people using bitcoin for pizza socks and drugs, and mtgox was around. meaning the spike wont happen before christmas, i think it will be 2015-2016 when the mega spike happens. although between now and then there will be an increase in growth (the start of the curve before the spike)

We don't know, but we can use historical data to inform our estimate. That is the purpose of the field of statistics and scientific prediction.

Check this out.

@Jason read this.

I think your trying to use board numbers to figure out what you think bitcoin will be worth later and in all honestly we just don't know what it wil be worth later :/

Wait, what? I don't think there were 100K users in 2010. And in 2012, I'm sure there wasn't 600K, because that's the time I got into Bitcoins. And in early 2014, over 60,000 International (Working all over the world) merchants were reported. So that means 2013 is sort of wrong, also. Where did those figures come from?

the way i see it is at the moment there are approximately 1million people using bitcoin. lets call average investment as being X (which never changes.

if you talked about population growth where it slowly for 5 years went upto 1million users, and then spikes almost vertically to 50mill-1 billion users. then and only then you done the $ maths calculation. then i would have believed that the current price was meaning less

EG where only after doing an S- graph ...
2009: 1k
2010: 100k
2011: 400k
2012: 600k
2013: 800k
2014: 1 million users
2015: 5 million users
2016: 1billion users
... you would then calculate the $$$$$$.... so this year a 8bill market cap divided by 1mill population = investment of $8k/ person, meaning that if on average every investor stayed at a $8k investment then:
2015=$40bill cap, with 14mill coins mined=$2857/coin
2016=8trillian cap. with 15.5mill coins mined=$516,129

exaggerated example. i do not expect it to go from 1mill to 1 bill population in 2 years. 50 million is more reasonable. which equates to a $400bill market cap, $25,806/coin

everyone is making great discussion, very interesting

My bad. Laughed my ass off for some reason when you mentioned postage stamps. They would be sticky and all over the place, and Visa would feel threatened by them. A rule at their headquarters would be, 'No employees are allowed to use postage stamps. Not as currency, or for packages.'

On Topic:

Anyway, that's the thing. Let's be honest, some people wouldn't be here if Bitcoin wasn't higher than Fiat. People would laugh it off, thus not use it, thus not buying it, therefore not spending it due to the amount of merchants that would accept it. Equaling people to avoid it, because it seems like a silly idea to use. Which ties into the postage stamp as currency thing.

If enough people used it, then yes. They would accept postage stamps if all the sudden everyone started using that instead of credit cards.

if bitcoin price does not matter. then why have i counted numerous times that you mention the dollar value.. and compare it to 2-4 years ago.

if bitcoins current price did not matter. you would not mention the price once. you would instead be talking about population amounts, services/merchant numbers.

you would have referenced videos that talk about population growth not the price growth

Disagree. If Bitcoin was still at .25$/BTC, do you think Expedia, Holiday Inn, Tiger Direct, Wal-Mart, or E-Bay would even give a thought to it?

Better, more astute explanation here: https://www.youtube.com/watch?v=qHUPPYzzZrI

Love the feedback thanks very much guys and yes I got your PM will respond asap

Good video bro.... watched a few of your other videos in the past and been meaning to reach out to you and then ran across you here today.

Look for my pm.

Tai Zen

If you are using it strictly as a currency, then the price is truly irrelevant, just as long as it is stable from the time that you purchased the coins, to the time that you are using them to purchase goods or services.

The only time price matters is when you are using it as an investment.

I would disagree, personally to me price doesn't mean everything. The price is only a reflection of the services and the technology behind the product (bitcoin). Many could agure that the price can be faked by pumping and dumping but with Bitcoin, the market cap is so large vs altcoins that it is not the case. The purpose of this video was only to discuses the price is in current state based on historical and long term investment studies. I would leave with saying that in my option the price is minor to the things that utilize and make bitcoin more accessible and usable to the general public, which is showed by the historical linear price charts.

We could turn this on its head and say the only thing that matters is the price. 

I watched the video and you had me convinced at one point, but then not so convinced.
I think price always matters, if we were still at $5 a coin none of the newspapers would of picked it up, nor so many big big companies.

Hello everyone, it's Jason the bitcoin video guru I'm back and producing bitcoin videos again! I spent a good amount of time researching this video and honestly feel this is one of the best information videos I have produced, I hope you take some time out of your busy lives to go watch and give me your feedback Have a great day and thanks for watching
Video Link: http://youtu.be/r0LHNgukaJQ