Topic: Would Bitcoin at this Price limit its Global Adoption? - page 4. (Read 632 times)
I think if bitcoin price reach $100000 or higher then the number of bitcoin adoption will increase a lot because many news about it will spread around the world. I think there is no problem with the price, because people still can buy some satoshi, honestly I am so optimistic that btc price will surpass $80k or more.
Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption? Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?
Over the past, we have seen much of this kind of prediction from influential bodies and top financial advisors, but it always appears not to be happening as we expect it to. Those who predict the price are not going to actually use their hands in making it happen, and we should give much attention to such predictions, as higher expectations can give us an expected disappointment.
There could be possibilities for bitcoin to break its all-time high in the coming year, which is 2024, but when we can see that new ATH, I really don't think anyone can give an exact date of that, so until that happens, we should just have a lower expectation, assuming everyone was taking the prediction of Ark Invest, led by Cathie Wood, that a million dollars was made and people rushed to accumulate more than they planned to with the hope of getting a lot of profit. What do you think would have happened to many?
No, I don't see any reason from those predictions limit people from entering and adopt Bitcoin. Yeah, it may sound intimidating if these predictions keep on coming and the price actually reaches to those figures. But I don't see that this simple reason could affect the global adoption. Whenever the market turns into the bull run, that's how everyone is going to be back at it. The more action that people are seeing in the market regardless of the price and predictions that many are projecting, entering is going to be quicker than what we're expected and that's what typically we see.
Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption?
I don’t agree or believe that this will limit its global adoption. The global adoption of bitcoin does not depends on the speculation made by bitcoin enthusiasts alike but on the positive side it’ll have for them when they invest in it. Adam Back speculation can be seen as a positive one and if he had speculated before and turned to be true, his speculation this time around will just make more people to buy bitcoin and sell at an higher price later.
Aside from that if the price told by these positive speculators are realized, I think, it will even trigger global adoption since hype and FOMO will be triggered just like in every cycle where Bitcoin breaks its ATH. There are new money injected to the Bitcoin market, and new companies from different world are created to integrate and ride the Bitcoin popularity during this events.
Quote
Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?
You don’t need to have a substantial amount of bitcoin before you can make it big in bitcoin. All fingers are not equal and the amount you’re able to afford will be the same profit you’ll earn later when theres increased value in the price of bitcoin. The excessively high price should only give the people more hope that bitcoin will continue to increase, and that should convince them to join instead of procrastinating on when to opt in or wait.
It is a good thing that Bitcoin is divisible and there is a unit known as satoshi. If one can't afford 1 BTC he can always buy the fraction of it in satoshi. So it is wrong to say that buying Bitcoin is impossible when its price reaches to $200k or more. Any one can still buy Bitcoin in fraction and in as small amounts or maybe lower than $5.
Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption?
I don’t agree or believe that this will limit its global adoption. The global adoption of bitcoin does not depends on the speculation made by bitcoin enthusiasts alike but on the positive side it’ll have for them when they invest in it. Adam Back speculation can be seen as a positive one and if he had speculated before and turned to be true, his speculation this time around will just make more people to buy bitcoin and sell at an higher price later.
Quote
Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?
You don’t need to have a substantial amount of bitcoin before you can make it big in bitcoin. All fingers are not equal and the amount you’re able to afford will be the same profit you’ll earn later when theres increased value in the price of bitcoin. The excessively high price should only give the people more hope that bitcoin will continue to increase, and that should convince them to join instead of procrastinating on when to opt in or wait.
That’s a dream price and yes if peeps are not going to buy now then they are definitely going to miss it. However what amazes more is these rich peeps are always having very high expectations. I don’t know if they are just doing it out of thin air or there is really a basis for the same? May be they just do these conversations over social media way intentionally so that they can drive the public to get involved and may be start buying new positions. This could benefit them with the time as they are always in the possession of huge amount of Bitcoin. The net effect could be as equal to as insider trading by driving the market up. I don’t know, it could Far fetched but have you seen their predictions? Always off the roof.
Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption? Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?
It is a really great question! I always say one thing - Bitcoin is a great asset to hold but it's not a great currency. It is expensive and slow compared to many other crypto or fiat related currency systems we have available in the market. So I don't think the high price will not hinder its global adoption. rather, it will be regarded as the greatest asset/investment in the history of humankind. The transactions will take place in fiat or other currencies but Bitcoin will remain as an investment asset which will outperform every other asset classes.
Bitcoin puritans will surely go against this, but that will not change the reality!
I really don't see the problem because you can buy small fractions of bitcoin, so literally everybody can own whatever the can afford to purchase. If the price keeps going up it means there is a lot of demand, that how markets work. At the end of the day not everybody needs to own a full bitcoin just like not everybody needs to be a millionaire. Right now bitcoin price is still a bargain, for sure many people in the world can afford to buy one but they simply choose not to because probably they don't fully understand it.
Truely knowing what bitcoin price was during all time highs and how people were buying bitcoin like crazy at that time versus now when the market is bearish and the reduced interest in bitcoin shows that the major push to bitcoin buying came from internet buzz leading to short term flippers and not genuine long term investors.I think this improves the adoption by a smaller instance but the gradual rise and acceptance of crypto by governments do much better in adoption. Shops accepting bitcoin at a discounted price always attracts the attention.
Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption? Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?
I really don't see the problem because you can buy small fractions of bitcoin, so literally everybody can own whatever the can afford to purchase. If the price keeps going up it means there is a lot of demand, that how markets work. At the end of the day not everybody needs to own a full bitcoin just like not everybody needs to be a millionaire. Right now bitcoin price is still a bargain, for sure many people in the world can afford to buy one but they simply choose not to because probably they don't fully understand it. Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption? Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?
Just take it this way, imagine like 4-5 years back when the price of BTC hasn't reach this high I would like to think that same question were probably asked about people having the mindset to still buy if Bitcoin actually achieved a supposed amount but see here today even after it reached a whooping 69k people were still on course buying and selling so I think same fate is still going to play when the time comes that the price of Bitcoin will eventually hit that figure, all I pray for is that I would have saved a nice stack of coins before it officially reached such height. 
Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?
The price bitcoin was years back, what's it the same price now? It started at a lesser price before it skyrocket to today's price of $29k, and still, so many crypto investors are investing in it upon that without minding the high price it is now. In years to come, if bitcoin had to skyrocket way more in price, there will still be many people wanting to invest in it like us when they remember that bitcoin will keep on increasing in price as the year goes on and on
Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption? Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?
It will not because Bitcoin can be sold in fractions. One can buy Bitcoin according to the fund the buyer has. A person can even buy $1 amount of BTC. This is the common misconception of people that the ever-increasing price of BTC will hinder its growth because people can't afford to buy it.
We should know the fact that Bitcoin is divisible and can be transferred in fractions. If the price of Bitcoin goes on an infinite uptrend mode, then there is a possibility that FOMO will trigger the global market to panic buy BTC getting the attention of more users, and global adoption might proliferate faster.
No matter the price of Bitcoin, I think people are still going to buying because it can be fractuioned into small units which is one of the thing that makes it easily affordable no matter the amount you want to buy. Tye price is gradually increasing and we hope that it will reach the price that we have predicted it to reach.
If Bitcoin eventually reach like $100k, I think that is when people will start seeing good reason to buy Bitcoin especially people that had been discriminating the system that it will crash. The same happen when Bitcoin was below $1, many agitated that the price will never reach a $1 and now we can see that the price keeps growing like the trees in the forest.
If Bitcoin eventually reach like $100k, I think that is when people will start seeing good reason to buy Bitcoin especially people that had been discriminating the system that it will crash. The same happen when Bitcoin was below $1, many agitated that the price will never reach a $1 and now we can see that the price keeps growing like the trees in the forest.
Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption? Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?
The average person does not need to have a large amount of bitcoin to own one. That is why we also have satoshis. If the price has risen so dramatically in such a way with such great value, there should be even more motivation for them to keep at least a portion of it, no matter how little they can afford. If one buys while the price is rising, and the market continues to rise, the person's bitcoin value will have increased over time. It is never too late to acquire one, and the future price of bitcoin is expected to boost its adoption and rather than decreasing its use and acceptance rate.
Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption? Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?
They do not necessarily need to buy 1 bitcoin to become holders of bitcoin, they can always buy in small quantities as they can handle financially and gather it. When bitcoin gets to that price, I believe that it may no longer be attractive for investments, people may consider other alt coins for that purpose or hold on to their fiat. At that stage, it may not have an effect on global adoption, because bitcoins will then be adopted for the other reasons and other benefits that it can provide.
I say that the relationship between the price of Bitcoin and its adoption is not direct or linear… Well, while a higher price can generate interest and attention in it, the global adoption of BTC is influenced by a number of factors, such as its usefulness security, regulation, ease of use and public awareness. It is true that as the price of Bitcoin increases, it may become less affordable for the average person... But, Bitcoin is divisible up to eight decimal places, which means that even if a person cannot buy a whole Bitcoin, they can buy small fractions, known as satoshis, allowing greater inclusion and access to investment in Bitcoin. I feel that the future of Bitcoin and its worldwide adoption depends on a complex interplay between financial, technological, regulatory and psychological factors... Although price is an important aspect, it is not the only factor that determines long-term success and adoption of Bitcoin as I said above. .
I believe these predictions are what will create adoption. People do not want to miss out. So when they see these predictions, it would motivate them to buy Bitcoin now so they can make more profit later on.
I mean who wouldn't want to hold Bitcoin if he believes that Bitcoin will be worth 100k plus in one year?
The negative part of Bitcoin getting to 100k+ is that people who do not have an understanding of what Bitcoin is will further feel it's only for the wealthy. I'm saying this because a lot of people do not understand the divisible nature of Bitcoin. They don't know that you can buy Bitcoin worth $50. So I feel when they see that Bitcoin is at $100k+ it might further discourage them from affiliating with Bitcoin.
I mean who wouldn't want to hold Bitcoin if he believes that Bitcoin will be worth 100k plus in one year?
The negative part of Bitcoin getting to 100k+ is that people who do not have an understanding of what Bitcoin is will further feel it's only for the wealthy. I'm saying this because a lot of people do not understand the divisible nature of Bitcoin. They don't know that you can buy Bitcoin worth $50. So I feel when they see that Bitcoin is at $100k+ it might further discourage them from affiliating with Bitcoin.
This is why one bitcoin is divisible upto eight decimal places and we are talking about satoshis which will be carried by "common" people. Indeed the cost of 1BTC at this current price is wet dream to most people in my country coming from the middle class. For them a fractional amount is enough to run their yearly stuff.
Now coming to the fact why celebs are saying such big numbers, this is because they are bullish on its price and they want it to rise so they get a chance to sell and book some profit.
Take that with a load of salt though, final decision of how your interpret these messages are yours.
Now coming to the fact why celebs are saying such big numbers, this is because they are bullish on its price and they want it to rise so they get a chance to sell and book some profit.
Take that with a load of salt though, final decision of how your interpret these messages are yours.
Michael Saylor stated that people buy Bitcoin at the price they deserve. Just a few days ago, Adam Back made a bet on Twitter that Bitcoin would reach $100,000 by March 31st, 2024. Here's a concern I have, do you think the predicted increases in Bitcoin's price to $100,000, $200,000, $500,000, etc. will limit its global adoption? Since the price will be so high, the average person might not be able to afford a substantial amount of it. As a result, they might seek alternatives, potentially hindering global adoption. Could the excessively high price lead people to feel like they missed out, causing them to hold onto seemingly worthless fiat currency?
Could missing the bandwagon deter people from using Bitcoin? Perhaps. They might demur crypto feeling as they missed a profitable opportunity. But that is not actually as pertinent to global adoption as you might think. Regression and instability in price is more harmful to adoption than having a high price per coin.
If anyone believes that holding onto their inflationary fiat would be a wiser investment choice than adopting a rising asset, it's rather on them. Most people don't think this way.
What the hell did you mean? It is basic Bitcoin knowledge that it can be bought in a fraction amount. And it is a known regular misconception about Bitcoin.
Your account is made in 2013, assuming it is true, I can't believe you still fall, in fact, worrying, about that kind of wrongful information. Unbelievable. People buy gold, but they ain't buy a ton of it, they buy a fraction, and it also applies to another commodity. What make you think it can't be applied to Bitcoin!?
But let's say your concern is simply that people can have a substantial amount of bitcoin. I do not know how much you pictured when you said substantial, but it is just how the market works. There will be a buyer and seller. People did not essentially has to own a significant amount of bitcoin.
Your account is made in 2013, assuming it is true, I can't believe you still fall, in fact, worrying, about that kind of wrongful information. Unbelievable. People buy gold, but they ain't buy a ton of it, they buy a fraction, and it also applies to another commodity. What make you think it can't be applied to Bitcoin!?
But let's say your concern is simply that people can have a substantial amount of bitcoin. I do not know how much you pictured when you said substantial, but it is just how the market works. There will be a buyer and seller. People did not essentially has to own a significant amount of bitcoin.
Jump to: