Topic: why is bitcoin price important? - page 7. (Read 3650 times)

For Bitcoiners, I think different thing matters to everyone individually. Let's take for example i invested $10k into Bitcoin, during bear market my asset lose to $4k, do you think I would not be curious about the price?. True! Bitcoin is designed as a way to transfer digital cash in a decentralized manner but everyone can also think of it the way it matters to them. Bitcoiners must note that volatility is one sure thing.

the majority of bitcoin buyers today are people who buy them on a fiat basis with the aim of increasing the value they invest in, so that when the price of bitcoin drops, they will immediately complain and panic. In addition, when the price of bitcoin drops, the media is busy spreading the news very quickly so that the panic grows.

I get what you mean but it's not just market forces at work in the traditional sense. This is a sensitive & emergent asset. And I have had the same convo many times about the term "cryptocurrency" which I don't have a problem with per se.

You know I was thinking about this the other day though, what's going on in the international economy around the world, particularly a bank in Beirut.

And it made even more sense to me in that context how maximalists are sort of warning people with serious need against the dangers of anything other than Bitcoin when it comes to storing capital in crypto.

The most important thing is decentralization, the principle of private (or pseudonymous) ownership. It is dangerous & might turn out pretty sad if we sent the message that the most financially threatened people in the world were just as safe putting their fiat into any old form of cryptocurrency besides BTC, & until this is widely & properly understood & appreciated we in the developed world have a duty to shout about it.

it doesn't "show" anything. all it shows is what happened. nothing more. this type of irresponsible statements is what cause newbies to load up on a sure thing. also it's alot harder for bitcoin to double in price than it is for a lower priced coin all other things being equal, due to the amount of money required to move it. so keep that in mind.

That's what people been told mostly intended to use for, probably they don't know what is even the real use case of Bitcoin as most of the people looking Bitcoin as their investment instruments at most which is fine because it's their choice to use Bitcoin whatever they want to. Albeit when the price was really crashed at any moment, people would leave immediately.

Every product manufactured or commodity and any service rendered must have some sort of measurement of value and that would help to tell how valuable it is recognized by society. Therefore, a price of any given commodity brings to light it’s value. The forces of demand and supply affects a price of any given commodity. Bitcoin isn’t an exception. While demand would likely increase with the growing adoption numbers, the price would most likely go up as well. So acquire and hold onto it with both hands.

In the beginning, every product that already had a price was seen from its usability and technology. Because when a product that does not have a price and use exists, the price will be there when there is a lot of demand in the market, which means that enthusiasts can increase by knowing the advantages and uses of the product. Because without any special uses and advantages, the price will also be difficult to form because the demand is not increasing. Likewise with Bitcoin which basically already has advantages through technology and usability, which in the end becomes valuable and gets more enthusiasts every year.

Yes, many countries are very ready to adapt or legalized Bitcoin in their various countries because they discovered that those that legalized Bitcoin in their countries are seriously doing well in their land. Now that people are still experiencing bearish season, it will be favourable to those countries that want to accept Bitcoin in their countries for their citizens to have full access to it, so that they can make progress like other countries that accepted bitcoin in their countries are making progress. The price of Bitcoin has increased to $24,000 few hours ago, showed that the price will definitely reach $50,000 before the end of this month for people to use the opportunity to recover from their losses.

It controls the market as a chain reaction.
It regulates the other cryptocurrencies

There is nothing wrong with your assumption. I can still understand even if you don't say it maximally, but there are still some people who think that the coin is not only Bitcoin even though in my mind and you are Bitcoin and nothing else. Because other coins will still not be able to develop to its full potential when Bitcoin stops moving in the market and it still has a very big influence in the market.

the 4 year cycle of bitcoin where the price range is higher.. and the underlying value is high than the previous cycle is proof that bitcoin is deflationary

then look at fiats inflationary system
where every 4 years people LOSE value where their $10 min wage in america buys them less products compared to 4 years ago

should people ignore fiat inflation, not care about inflation and just carry on treating $10 as fair income even if if buys them less..
.. ummm no. people do care.

so the opposite applies people do care when they see their btc buy them more things every 4 years at a rate that outpaces the fiat rates loosing of value.

people still use fiat even though inflation loses them value and still uses btc even when it gains them value

i personally use bitcoin, and as a side note i can talk about the price.
its not a one or the other, use or save.. save or lose.. bitcoin is open for many people to view bitcoin in many ways and many ways at the same time.

but bitcoin increase in underlying value. (the 4 year cycles LOW being higher than the previous cycles LOW) is a good thing for all..

yes some idiots of greed scream and shout about temporary speculative bubble events about the PRICE ATH
but they are not excited for bitcoin. they are excited to exit bitcoin to return to fiat.
and give those fiat lovers a few years they will regret their decision. as their greed at last ATH. leaves them holding a bag of fiat, which over years buys them less things. whilst holding bitcoin would have to them more goods to buy if they didnt exist early

The freedom to invest in the crypto space makes people not so focused on real decentralization, they just come and invest their money for profit, the combination is greatness and freedom in carrying out investments here.
People use Bitcoin according to their respective tastes and compatibility, so things that are considered important are no longer the main concern, because they only focus on maximizing income.

Investing in Bitcoin is not like buying some other coins, because the process of buying bitcoins takes time, otherwise people have to wait for a bigger strengthening of the issued capital, some people are involved in crypto investments and especially bitcoins are just looking for profit, they don't care with any gap to the future of bitcoin or bitcoin's initial design focused solely on transferring digital money in a decentralized manner.

That's why people never want to know about the initial concept, they pay attention and focus only on profit

Well, the price of bitcoin has increased compared to the last couple of weeks so it’s safer to say that bitcoin has a continuous price increase. Why the increment in price? The more bitcoin gets accepted, adapted and used worldwide, the more likely the price increase.
And while pricing is generally used to know the value of goods and services, the price of bitcoin may very well increase over the next few years to reflect its value.

For one thing, bitcoin hasn't had a "continuous price increase". The higher bitcoin goes in price, the worse it looks from an investors perspective I would think. There were so many people saying bitcoin was gonna go to $250,000 or $500,000 within a year or two. That hasn't happened.

The price that bitcoin has in these parts is significant, it wants and gives a lot of information to people who don't know anything or who don't know bitcoin, a person who doesn't know bitcoin is because they don't like money or it's something simple, no read news, a person who is wealthy can afford to buy bitcoin right now and be so lucky that in a short time they will have double or triple it depending on their investment, I think this is still not understood by people or most people who only think about saving in a bank.

And people had come and invested in Bitcoin because of its promising returns based on the price growth. And they are right, I was nobody would care about Bitcoin if they know they can't make money from it but just ignored it. Considering the continuous price increase of Bitcoin, more and more new investors gather in the crypto market in preparations for the next ATH. I'd say that missing this time is a big regret as we can see this back again many years from now ( or may not).

It was designed to be a P2P payment method and it's also used as a store of value. But the future price is an essential element of it all. If the price of bitcoin depreciates month after month/year after year, it's not a good store of value. If it's supposed to make international payments faster and cheaper, its users don't like to see a drastic downtrend. What good does it do if it makes international payments easier if my $1000 in BTC sent on Monday is only worth $800 on Thursday?   

The network works the same way today as it did when BTC was trading at $69.000, and it's going to work the same way if we fall down to $10.000 as well. You are right about that. But you can bet your ass that people will complain if the value crashes to $1. Look at it from your own perspective, would you rather open your wallet and see a 5 or 6 digit value in USD or a 2 digit one? Before you say it doesn't matter because 1 BTC = 1 BTC, it isn't really. The buying power of 1 BTC at $24k is significantly different from the one at $1.

You can really tell when bitcoins increase their price when you see the market all green at some point, you can make sure something positive has happened to bitcoins no doubt about it. That's how important the bitcoins price is, that's why crypto people really work with one another to promote the use of it as a means of payments and other necessary use of it. Because when bitcoins are successfully implemented in some countries and they successfully use them as their means of payment, the price will quickly get increase and so as most of the altcoins.

There is a simple reason for this, as we invest in bitcoins and other cryptocurrencies for profit, so high demand will lead to a rise in bitcoin's price. Bitcoin is well known in recent years for its high volatility. The higher the price, the more people notice, leading to an increase in demand. When demand is high, price will be a top concern. Nowadays, everyone in the market is only looking at the bitcoin price, no one cares what the technology of bitcoin is.