Bitcoin Forum

Edit: Added a poll because I am very curious what 'the bitcoin community' thinks what a stable price would be: https://bitcointalk.org/index.php?topic=165166.0 (https://bitcointalk.org/index.php?topic=165166.0)

Price stability and predictability are the main factor for a wide acceptance and adoption of bitcoin.

To manage the market price, Bitcoin does not have the influence from a central authority like Federal Reserve or European Central Bank.
The Bitcoin Community has no need for a central authority.

The Bitcoin system cannot affect the bitcoin market price with interest rates or changing the number of bitcoins produced. This is fixed.

Did you know the Bitcoin Community has the ability and tools for a stable bitcoin price?

In order to have a stable and predictable price we need:

• mass for stability (limited fluctuation)
• consensus for predictability (clear path)

The Bitcoin Community is able to set the bitcoin price.
We set the price.
We set stability.

How?
That is simple:

BTC sellers: don't sell for less than $1000
You'r in?
Quite simple. I'm in! (click here) (http://bitcoinmarketprice.org/participate.php)

With your support the bitcoin price will be more stable and predictable.
With your support we create trust.
Trust in bitcoin assures broad acceptance and use of bitcoin.

bitcoinmarketprice.org (http://bitcoinmarketprice.org)

There's a word for this, it's called "price fixing". Luckily, you'll never get the entire Internet to go along with this.

Price fixing is enforced.
This is a initiative to stabilize the price, not fixing the price.
You are right: with bitcoin it is not possible to fix the price.

If the price is not stable and fluctuates (at this time), it attracts bots, gamblers and hedge funds.

The Bitcoin Community does have a choice, or just let it happen.

This is actually good idea to do: if you want to sell do it for $1000 and if you want to buy you have fixed price. Only problem is that it cant be paired to US dollars because they are printing them all the time.

As long as mining is profitable there will always be someone willing to sell quicker for less... it's called free market, I think ;)

great but if we all agree that its worth $1000 then why they want to sell for $100? They dont want money or what.

You are right, it is about acting as a bitcoin community.
Together promoting bitcoin and make this work.

Bitcoin is great tool but now we have to prove we are mature enough to use it.

If everyone, or almost everyone, took this pledge, sellers would disappear and new money would not be able to enter the market. And we would all have to stop spending our coins since no merchant will base their prices on $1000/coin if they can't sell for that rate to replenish their stock. This solution would turn bitcoin into a club for insiders only, and ultimately kill it.

Please don't.

At this moment the demand for bitcoin is to high. That is why the price rises so quickly.
I would like to have your merchant introduced to bitcoin because he is able to stabilize the price.

It's a really bad idea. I think wormbog have right.

So... Don't do it, for the future of bitcoin :)

I disagree and feel like this is not inline with the bitcoin community workings.  Just my opinion only though, you opinion is equally as valid.

I think this incredible price rise is a bad idea.
How can we convince bitcoin owners to sell their bitcoins?

They wont disappear, they will sell for $1000. And if everybody will sell for that much, then buyers will also have to buy for that much. Nothing will change except price. And those who risked they money to invest in bitcoins before others would get rewarded for this.

You have to remember that by increasing bitcoin price, you need way less bitcoins to trasfer given value. For example now to transfer $1000 you need 10 bitcoins but after price increase you need only one. And the faster we get higher bitcoin value then less price changes will be because it will be too expensive to easilly influence market. The faster we do this the better.

Thank you for your support.

OMG.

Just how greedy are you guys? As if the recent price rise wasn't enough.

Well, while we are at it, lets make it 10,000 USD.

So I can sell at 9999 just before you guys start selling again

I would rather had a stable 10% price increase within a year from $40 in favor of the rollercoaster we are in right now.

All of this (and in a sense Bitcoin itself)
is speculation. That is basically the main difference between btc and
fiat. The fact that none can 'set the price' but at the same time
everyone can help set it. I know when i bought my first btc
i had no idea that my $7/coin investment would be breaking
$100usd and making national news (CNBC last night) less than a year later.

we can guess all day long but at the end of the day
i probably wont even sell at 1,000 usd

lets get to a MILLION! haha

-Jackofspades

If I had any coins I would sell at 500€ and there would be many more people who would cash out. It's just not possible to do this...

Too bad I'm too poor...

I don't like amusement parks, but this roller coaster I like.

Have you ever been exposed to microeconomics?  Everyone has a point at which they are willing to sell.  Apparently yours is $1000/btc.  I'm going to tell you right now that mine is much lower.  Sorry to burst your bubble, but I would bet that most holders of bitcoin would agree with me.

For Bitcoins to work, it needs to exchange hands, people need to use it. Hoarding bitcoins and hoping the value continues to rise can only end in failure for the currency.

Agree on both.
What do you think will stabilizes the price and make bitcoin better/more available?

For what?
I think it is wise for this moment to find price stabilization by consensus.
If 1,000,000,000 works, it is fine by me. (question: what is in your opinion a good price?)

Parity with gold would be a great price.  then the goldbugs will be all like "double-u tee eff, bro"

Parity with what amount of gold? a troy ounce, gram, kilogram or megagram? ;D

1mBTC = 1000 USD seems nice to me.

I will settle for 1BTC per troy oz.

How, exactly is the price supposed to stabilize when Ben Bernanke is creating 85B new dollars every month?  It simply isn't going to happen as long as he's creating the equivalent of 85 Bitcoin economies every month.  Then you have to also consider all of the other fiat currencies being debased around the world.  If price stability is important to you, you're in the wrong currency.

In the long run BTC is expressed in 'real life' trades, like bread or 'hour of work'.
At this moment the distribution and use is too low to be able to determine the price of a bread in BTC.

After that, the price deflation in BTC equals the productivity increase. This stimulates development.
I think productivity increase is a good way of price stabilization.

To express the value of BTC (for now), it must be expressed in inflationary fiat currencies.

My point is, to obtain trust and mass use (private and business), a stable price is required.

its called free market, this wont work.

People need to be willing to pay 1000 for a BTC because of supply and demand, just holding it and saying i want at least 1000 for these digits that are worth 700, you are just going to get 0 buyers my friend

Yes, I wish people would stop resurrecting old threads.  >:(