Topic: Why people debate so much about BTC value? - page 6. (Read 1155 times)

He thinks that the people are debating about cryptocurrencies because of their different questions and answers without knowing that speculation is real different from debate. As usual this is a forum in which you have the right and power to post anything or answer any question as long as it is related to everything inside the crypto world. Evwn if you are posting questions and replies to another question it does not mean that you are debating with other members here but you are just stating your opinion and also the facts that you know about crypto world.

very speculative as an asset because btc movements look similar to gold, and also speculative against currencies because the USD is the best comparison medium for btc speculators. these two things automatically become fundamental in a continuously rotating value, we cannot rule this out as a main benchmark outside its original function in actual use with all its potential.

Most of the time speculations were misunderstood as debate. What we see with different questions were a form of speculation. Whether this make any change in the market or not is secondary. Also the value is the one that grabs the attention of people, so value is much important. Rather than talking about price pumping of altcoins, the growth of bitcoin is much into speculation. This is all because of the growth dependence of altcoins over bitcoin.

The reason being for debate on BTC is other alts are still dependent on it, like everyone knows when BTC pumps other alts follow the same, if BTC dumps other crash massively. By the way there is no any genuine experts here to say the pump and dump of any coin, crypto will get more active and people will get use to it only if there is a twist in the market 😉

trading will be much hard if you wont seek for other predictions or to your predictions   .

me myself is not a trader but i cant help my self to monitor and to talk about it via chat and on social media because i want to share what i analyzed and i want someone to be updated on what is the current happenings on bitcoin and its value  .  but that is how it goes to other currency like usd or other assets that has a value like gold  . so why quesiton it  ?

They are talking about bitcoin price because some of them are traders and plus the fact that bitcoin price is really hard to predict. That is why they are trying to share every prediction that they have so that they can use it when they are going to trade. It is very important in trading for you to be able to gain profit.

90% of Bitcoin users see Bitcoin as 1) Store of value, and/or 2) Investment. This means that its value in fiat currency is actually important to 90% of people who have Bitcoin.

If you could tell me exactly where this premise is written in the Bitcoin whitepaper, I'd appreciate it because i don't quite remember reading that (it's been a while since i read the whitepaper).

Jesus christ.

As you know, shallow people talk about prices; smart people talk about value. There's a fine line between price and value that people always cross when stating why bitcoin should improve.


Except that it doesn't work that way, unfortunately--at least on our current times that is. Most merchants and consumers still look at the fiat price of anything that they want, and your 1BTC = 1BTC motto wouldn't do much to sway their decisions on your liking. We're still far from a society/economy wherein USD is overthrown, and if it was overthrown, the likes of CNY, Euro and other currencies out there might just replace it, but I doubt it'll happen sooner.


Remember that you are in a bitcoin forum where 1BTC = 1BTC mentality can and will always work. But apart from that reasoning, the reason why theymos maintained the 50BTC price for these fancy donator perks and status symbol simply because it is to preserve the integrity of that member rank. You wanna have it? Pay for the same price the ones before you paid for and you'll get it.


Yes, 8000x more valuable than the USD, but is susceptible to massive volatility and rapid price changes without any notice. That's why merchants are staying the hell away from it. Due to its insane volatility, it makes it hard for them to track profit/losses, and if they ever use a third-party service like Bitpay and the likes, their profits would be reduced even further.

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I'd also love to see an economy thriving out of bitcoin and/or other cryptocurrency but the problem is, the minds of the people are still glued to the notion that the USD is superior and the rest of the currencies are irrelevant, that's why we use USD as the standard means of exchange around the world when clearly, any currency existing currently can pretty much do the same.

The expectation that bitcoin will replace USD may never see the light of the day, I saw CZ binance said something similar lately, am not surprise he makes mistake sometimes like that on the media. We might see cryptocurrency get more active and we could see government launching their crytpcurrency (stable not volatile), Bitcoin will remain an asset. As the king of the space proven in last 2 years even among the many altcoin, we wont stop discussing the value

This is a question of every panic investors because they don’t know the current situation of the market that’s why they keep doing that. The biggest challenge for bitcoin is that, people are expecting this technology to replace fiat money when it reality it wont happen. Bitcoin should not be controlled by any government, the purpose is to get away and not for the government to control us again. The debate will never end, most of them is just a nonsense debate.

Probably most people are askign because they are gambling degenerates and impatient.. or they wanna make a trade based on more people's opinions, but they only learn that the best is to make your own research and make the decision based on your own thoughts. Don't delegate responsability on someone else's judgement especially if that one is not an experienced financial advisor who has to obey the fiduciary laws.

Other reason could be that they have some free time and they need something to be excited about. If a newbie pops in and say that BTC will pump soon then their hormone levels will spike up like crazy. 

And mostly because bitcoin is used for investment. Most of the people who ask these questions are the ones that have invested money on bitcoin that is why they are skeptic and are worried about wht will happen to bitcoin's price. It's not bad that they are asking especially if they are new but it is indeed quite sad that bitcoin is mainly used for its profitability and not how it's supposed to be used in the first place.

If we have a debate, we want to prove something to us beliefes or through the paper. Today one of the newest topics is all about the use of bitcoin and the usd, many people think the usd is the most profitable currency for investment, and some people think it is bitcoin, but we have a different perspective how to earn more in bitcoin. The price of the bitcoin is volatile than the fiat or the usd because even they are both affected by the supply and demand still there is a law on different country to stop holding their coins they must be invested on their banks but it is not more profitable than bitcoin because there is no limit to get your money and also like what i've said the price is volatile there is a chance that your investment in bitcoin will get profit or not.

This is mainly because of profit, people tend to continue basing their decision to the conversion of bitcoin to dollar because it is easily could be seen if they could get profit out of it. And merely, to think of basing the BTC value only to BTC, I don't think much of adoption will take place from the start if that happens. Bitcoin will not impart interest from people because in the first place, it will not be an easy investment.

I think that debating about the value of Bitcoin is healthy for the community and cryptocurrency infrastructure. Bitcoins nature is very volatile and the volume is constantly within a state of influx and outflux, more than the traditional markets like stocks or Forex. I think the talking (speculation) helps add to the atmosphere and ecosystem which keeps people motivated, captivated, inspired and interested within the market. It is good that Bitcoin keeps people speculating, being that it is a supply and demand market. I would be afraid of the day that people stopped talking about the value of bitcoin as much, that's where the real trouble starts.

Precisely. I've been reading so much of this. "Bitcoin is for x, Bitcoin is for y, etc". Well, the good news is, Bitcoin is for whatever you want to use it for! Want to use bitcoin for payments, go ahead! Want to use bitcoin as a speculative investment, sure no one's stopping you! Want to use bitcoin as a hedge for economic uncertainty? Hodl on!

Also, it really doesn't matter what Satoshi says now. Bitcoin is decentralized. No one person or entity decides what it's for and how it will transform for the future.

1 BTC = 1 BTC is totally meaningless.

We live in places that have a cost, we stay alive by eating things that have a cost, we murder people over certain amounts of money.

All of those costs have to be measured and if we can't meet that cost we're screwed. If 1 BTC = 1 loaf of bread that's rather different than 1 BTC = 1 house.

Nothing concrete sets Bitcoin's value. It's the decision of the collective and that decision will change constantly due to innumerable factors. I can't see that ever changing.

Therefore if anyone wishes for cryptocurrency replacing USD as a mean of payment, such opportunity may appear only with the fall of US which cannot be replaced by any other country as a global empire.

Where did you get that information from? Satoshi never said that. And this makes absolute no sense in my opinion.
This is so unrealistic, almost delusional.

BTC will not replace fiat currencies completely, if it becomes an internet money, a travel money, and a reserve of value and so on it will be amazing already.

Fiat currencies and traditional payment methods (such as wire, swift, visa, etc) have lots of limitation which our generation (most of us here are millennials I guess) don't accept.

For example, if I want to buy a digital good in Amazon.com I will be charged about 10% in banking fees and taxes. This makes no sense. While if I could buy with bitcoin, it would be ok.
There are also inflation problems.

However, fiat currencies certainly have their pros, just some of them:
- Cash is 100% anonymous, more than Monero.
- You can store cash in a bag and you know that you don't need even an internet connection or battery to spend it.
- The existence of hundreds of fiat currencies than a single currency (bitcoin) is important for diversification in the world. What if someday someone finds a bug in bitcoin code, or finds a way to break down cryptography or whatever? World can't rely only in Bitcoin code.

Let's no create a fantasy that bitcoin will replace all hundreds different Fiat currencies in the world. There is space for them to coexist, and we probably need it.

You have a very valid points there but the truth is that, we live in a world where the value of everything is rated with the US dollar. People always prefer to determine the value of anything in US dollar since its kinda the standard of almost currencies in the world. There is no way the value of bitcoin wouldn't be evaluated in US dollar since its a worldwide used fiat currency in this world...