The original idea of Satoshi which is in the white paper has changed alot and I doubt Satoshi ever imagined that bitcoin will be what it is today. But all things being equal what bitcoin has evolved to today is not a bad one. And it has helped in great adoption of bitcoin.
Just imagine that bitcoin is stable like fiat currencies many people will not be interested in bitcoin maybe except few who cares about privacy and know how to handle it.
Then if bitcoin is stable, traders won't be in the industry for trading and I wouldn't know what would be the fate of bitcoin.
Topic: why is bitcoin price important? - page 11. (Read 3653 times)
Bitcoin price is important to investors or crypto enthusiast it is because the entire crypto is depend on the bitcoin price means every investment is affected if btc drop or rise, so the price of bitcoin is very important. If btc fall we will say it is a bear season and if btc rise we will say we are now at bull season means the bitcoin is always the center of the cryptocurrency market.
Bitcoin price is important because bitcoin is a decentralized currency and without it own increment through people who invest for it and bring it to the board Bitcoin will lose it values. I believe that Bitcoin value is very special to people who invented for it because if the price dropped in the market, it affect the people who invented for it and people who hold and wait for it increment. The price is important to any one who' knows bitcoin
The entire cryptocurrency is regulated by controlling the market of Bitcoin.Specifically if we look at the entire market we can see that the entire altcoin market has been dumped as the Bitcoin market has been dumped.So it is very important to hold the price of Bitcoin in cryptocurrency If you look at the market today, you can see that all markets have moved higher with Bitcoin gaining a little bit.This is why the price of Bitcoin is so important.
Everything about Bitcoin is important, but the price at any moment is more important for profit sake, because despite the fact that it's used for fast, easy and decentralized transaction, the price is needed for profit making since it has a volatile nature whose value goes up and down with respect to the US dollar
If you only look at the advantages of Bitcoin, then the price and value of Bitcoin itself should be placed on the first point because that is the part that you consider very important. I sometimes place the issue of price and value on Bitcoin itself on the second point, because for the first I place on the subject of Blockchain which has been successfully built and run very well so that the benefits felt by many people are very clear.Because without that and a good concept, I don't think any product will be interested and won't have a good value and price in the market.
alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.
thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.
What you say is true because the first purpose of bitcoin was to facilitate digital financial transactions in today modern era, but gradually that goal changed over time because many people saw bitcoin as an investment asset, in my opinion the change in the purpose of bitcoin may be due to the many regulations from many countries that legalize bitcoin as an investment asset rather than a financial substitute, and that is why many people prioritize and want to see bitcoin price at a high price because their current goal is to seek profit. thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.
Everything about Bitcoin is important, but the price at any moment is more important for profit sake, because despite the fact that it's used for fast, easy and decentralized transaction, the price is needed for profit making since it has a volatile nature whose value goes up and down with respect to the US dollar
If you only look at the advantages of Bitcoin, then the price and value of Bitcoin itself should be placed on the first point because that is the part that you consider very important. I sometimes place the issue of price and value on Bitcoin itself on the second point, because for the first I place on the subject of Blockchain which has been successfully built and run very well so that the benefits felt by many people are very clear.Because without that and a good concept, I don't think any product will be interested and won't have a good value and price in the market.
Bitcoin is the most important cryptocurrency. Bitcoin drives the value of many important coins as they are almost the replica of bitcoin in terms of blockchains. In simple words the whole cryptocurrency market value is dependent on bitcoin.
Everything about Bitcoin is important, but the price at any moment is more important for profit sake, because despite the fact that it's used for fast, easy and decentralized transaction, the price is needed for profit making since it has a volatile nature whose value goes up and down with respect to the US dollar
Think of a train carrying freight - Bitcoin is the freight and the train and tracks are the important part because that is the part that really has value.
Everything is important and therefore everything has value. Freight cannot be moved without a train and tracks, and a train and tracks have no purpose without the freight that needs to be moved.
Just my 2 cents and again I'm new - but that is what I see.
Surely, you sound like a no coiner, but at least you're curious, why else would you be here?
alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.
thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.
thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.
The price of bitcoin is always important as long as there is an increase and decrease in the price that occurs in every exchange market that has traders, these are the buyers and sellers where without these there will be no movement of increase or decrease in value. its in the market. This is also the basis for traders whether they need to buy or sell depending on the coins he has in hand.
<...>, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.
I don't think you have thought this statement through. If the price were to come down to those levels, a lot of things would change. Starting with this forum, there would be a considerable reduction of traffic on it, that's for sure.
bitcoin wasn't designed to make this forum popular. the forum was just put in place so people could talk about bitcoin. and whether or not this forum exists really doesn't have anything to do with bitcoin per se. bitcoin would be just fine without it. although its a nice place...
I am new to Bitcoin and it gives me a different perspective than those that are immersed in it.
I've spent the last 3 days researching it and reading both sides - pro and con - and my take is that "Bitcoin" itself has been hijacked by a group of whales that seek to control it's price and convince younger generations that it is a way to "stick it to the man", make a quick buck, and preserve wealth. There really is nothing to Bitcoin except a movement - and the real benefit is the technology below it that runs it (IMHO). Think of a train carrying freight - Bitcoin is the freight and the train and tracks are the important part because that is the part that really has value.
Just my 2 cents and again I'm new - but that is what I see.
I've spent the last 3 days researching it and reading both sides - pro and con - and my take is that "Bitcoin" itself has been hijacked by a group of whales that seek to control it's price and convince younger generations that it is a way to "stick it to the man", make a quick buck, and preserve wealth. There really is nothing to Bitcoin except a movement - and the real benefit is the technology below it that runs it (IMHO). Think of a train carrying freight - Bitcoin is the freight and the train and tracks are the important part because that is the part that really has value.
Just my 2 cents and again I'm new - but that is what I see.
Like the majority of goods, investments, and other assets, the price of bitcoin is greatly influenced by supply and demand. There will always be only a maximum of 21 million bitcoins available in all. According to many experts, Bitcoin's value is greatly influenced by its limited supply, or scarcity.
As its white paper explains, Bitcoin was designed to be electronic cash.
While people and businesses use or receive bitcoin payments as currency, some owners purchase it as an investment in the idea that it will grow in value. El Salvador has adopted Bitcoin as a currency, and PayPal facilitates Bitcoin transactions. But one of the great aspects of Bitcoin is total freedom. The original intent was abandoned mainly due to the currency's volatility. Similar to how individuals purchase gold, those who purchase Bitcoin do so with the expectation that it would maintain its value rather than using it to make purchases.
As its white paper explains, Bitcoin was designed to be electronic cash.
While people and businesses use or receive bitcoin payments as currency, some owners purchase it as an investment in the idea that it will grow in value. El Salvador has adopted Bitcoin as a currency, and PayPal facilitates Bitcoin transactions. But one of the great aspects of Bitcoin is total freedom. The original intent was abandoned mainly due to the currency's volatility. Similar to how individuals purchase gold, those who purchase Bitcoin do so with the expectation that it would maintain its value rather than using it to make purchases.
Bitcoin was intended to be a p2p cashless digital money transfer system and it still is. But the moment volatility came along with the asset many shifted more attention to making profit by constantly trading it for other commodities as prices kept fluctuating. But how does it sound that an asset that has the potential of giving back a high ROI is spent like a common token. Bitcoin deserves some respect so i keep and make more funds for myself.
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For different reasons cryptocurrency price is much important. If bitcoin haven't got good increase in the price, surely this could've restricted people from investing on Bitcoin. Going through the users of bitcoin, it is possible to see majority of the users getting into the market understanding its increase in the price. Very few understand the underlying technology and get into market.
Many Bitcoin users has used the price to determined when to buy bitcoins in the market to make a good profits and when to hold bitcoins not to experience losses in the season. Now that many investors has understood how important the price is to investors in the community, it is very difficult for potential investors to miss their opportunity to buy bitcoins in the bearish season. They buy when the price is low in the market which is the best time for every potential investors to buy and hold for the market price to increase higher before they can sell to make a passive incomes from their investment.
As a currency, bitcoin must have a value, and that value is reflected in its cost. To be a more effective currency, it must also be more stable, which it isn't.
The price of bitcoin directly influences the profitability of mining as well as the hashrate of the network. This is another factor that influences the security of bitcoin.
The price of bitcoin directly influences the profitability of mining as well as the hashrate of the network. This is another factor that influences the security of bitcoin.
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Since few people invest in Bitcoin technology, the price is considered a big concern in the market. Once again, bitcoin is down over 60% in value compared to ATH, and it is easy to see people leaving the market and dumping their bitcoins.
They are doing the opposite of what should be done: they buy high and sell when the price goes down. If you look at what rich people do, it's the opposite: at times like this they buy and when everybody is ecstatic, when it looks like the market is going to go up for the rest of eternity, that's when they sell.
<...>, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.
I don't think you have thought this statement through. If the price were to come down to those levels, a lot of things would change. Starting with this forum, there would be a considerable reduction of traffic on it, that's for sure.
For different reasons cryptocurrency price is much important. If bitcoin haven't got good increase in the price, surely this could've restricted people from investing on Bitcoin. Going through the users of bitcoin, it is possible to see majority of the users getting into the market understanding its increase in the price. Very few understand the underlying technology and get into market.
People flocked to invest in bitcoin because of its rapid price increase, bitcoin would not be widely available without the price volatility surrounding it. In the eyes of investors, their primary concern is to make a profit. Since few people invest in Bitcoin technology, the price is considered a big concern in the market. Once again, bitcoin is down over 60% in value compared to ATH, and it is easy to see people leaving the market and dumping their bitcoins.
so if bitcoin was worth $1 people shouldn't complain.
I agree with the rest of your post but this part am quoting is the part I don't agree with, there is absolutely no way you should expect someone not to complain if for example, they buy Bitcoin at a price of $20,000 and while still holding the Bitcoins, it's price drops to $1, I honestly would bet my d!ck that you too @op would complain, it is important that when we make posts like this, we should try as much as possible to be realistic in our approach and assumptions.Quote
If people can complain when ever the price of their local currency drops against the US dollars (please note that local currencies has less volatility) how would you say they shouldn't, or expect them not to complain when the price of Bitcoin (which has a way way higher volatility) drops against the dollar?
because fiat is the default. everyone has to use that kind of. they don't have a choice. so they have a right to complain if its losing value.Quote
The beautiful thing is that, Bitcoin is decentralized, so if anybody is complaining about its price, he or she is complaining to no one, he's not complaining to me or you, he's just complaining, this applies to us individually as well, when any of us complain about the price of Bitcoin, we complain to no one because Satoshi is not here anymore, nobody owns Bitcoin, so all and any complain doesn't change anything.
you're right, it doesn't change anything. but if people got tired of hearing them complain they would simply tell that person "dont invest more than you can afford to lose you shouldn't have invested more than you could afford to lose". Quote from: Slow death
people know that the price of bitcoin will not drop to zero, they just complain about losing money
and to those people, we say "dont invest more than you can afford to lose" if they complain too much that is. another thing that person might hear is "need to do your due diligence before investing" even if they didn't think of it as an "investment" but just digital cash. well its digital cash but its price fluctuates. Jump to: