Let's suppose that for some reason the supply of potato drastically decreases all around the world. Does that mean that people will pay 10.000 dollars for a potato or give up their cars just to get a potato? Of course not. This is because the utility of consuming a potato - the want-satisfying power of a potato is much smaller than that of a car or of 10.000 dollars worth of goods or services. In other words, from the mere fact that the supply of something is limited it does not follow that the price will soar.
In comparison to a potato, Bitcoin is not even a physical tangible good that can be used for satisfying human wants or needs, and its only utility is that it functions as a medium of exchange. So, just because Bitcoin supply is limited, that does not mean its price will rise. People will NOT pay enormous amounts of money just to have a medium of exchange function, especially if this function is equally available whether the price of Bitcoin is 1 cent or 7.000 dollars, and if this function can be realized with various alternative cryptos or fiat money.
So what you mean is, if Bitcoin is too expensive then nobody wants to use Bitcoin anymore? Hmm I don’t think so, as long as people still use it, especially if people already dependent to use Bitcoin then Bitcoin will still be used. People above me might true who suggest you to learn about economics deeper. |
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I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:
" like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"
I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.
I think every things that has value must be considered to have value, an easy example is gold and diamond, if people don’t think those 2 things aren’t worthy they will have no value. Even things that we think are worthless if marketed properly it can have value as well. By the way about Bitcoin, now probably is the right time to invest and then you just have to be patient. |
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Is it time to shine to get bitcoin. more falls? I want to sell the house car and buy bitcoin  If you do that for bitcoin I think you will bear more risk because just to start investing bitcoin is already risky especially if you sell your car and your house then the risk will increase. |
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Free Signal for people losing hope: Bitcoin is about to go upto $14,000.
If you are selling, dont sell. Hodl is the key here. Reap the benefit of waiting. For those waiting, invest now, buy buy and buy.
Dont listen to any negative comment below.
Ah April fools, I just remembered. But if you look at the price chart, it could happen. I see a pretty good increase, which may be a signal for the next bullish trend. But if there is a manipulation, that signal could turned into a false signal, but whatever happens we must keep HODL, right? |
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Now that governments have a competitor in terms of currencies, do you think that they will make an effort to make the economic system more transparent or will they just try to ban everything?
No, it won’t affect the amount of corruption. It can actually get worse if the corruptor uses coin who’s its transaction is anonymous like Monero. Some countries even forbid the use of Bitcoin and other cryptocoins due to surveillance, they say cryptocoin has a gap to be use as a tool to commit crime. |
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what would you do if you had so much debt and that your income was not enough to repay your debt installment?
how will you deal with it?
how to solve it?
Look for a part time job and sell your precious assets, especially Bitcoin, just wait at the end of this year later maybe Bitcoin will do the same thing as last year. Don’t give up or even escape from debt, running away will just shut down the fact that you have a debt and you can get into the list of their fugitives, your life will not be quiet later if it happens. |
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I do not think bitcoin will fall back to $ 6000, is it time for bitcoin to rest? and replaced by ETH or Ripple?
I want your answer based by the reasons.
No, Bitcoin is only take a moment to rest after a record-breaking Bull trend and shocked the world a few months ago. If Ripple or Ethereum want to depose Bitcoin, then they must be independent of Bitcoin's pioneering as the pioneer of Cryptocurrency, unlike today which their prices are still affected by the Bitcoin market. |
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new coins that have come a lot in the crypto world have an impact on the market price. however, after the arrival of the same ripple operates behind the blockchain.
will this coin replace BITCOIN or BITCOIN will continue in its position and remain the king of all coins?
Bitcoin will be always the king of cryptocurrency.The bitcoin is king of cryptocurrency because due to decentralised concept.It's can't control by any governmental organization, private sector or by individual .This is the main reason for the huge raise of dollars in single day. Yes, bitcoin is the king and other altcoins are just followers of bitcoin where followers renovate the blockchain technology become more advanced and have advantages of each other but still their king is bitcoin. If bitcoin got replaced, maybe other altcoins will become a garbage and people will throw them away because their king has been replaced. I think bitcoin will remain as the king of altcoin and will never be replaced because bitcoin is the first as the origin of digital money in the internet world. |
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Very nice article, very bad marketing lol By the way, it looks like a counterattack made to Facebook, after a while ago Facebook banned the crypto’s advertisements on their website. As I have seen at its original source in CoinDesk, the problems that exist are defined poorly, it’s like reviewed randomly without a deep description. |
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Even if it happens, it seems we have to welcome it well. Because we can buy Bitcoin with a cheap price, that if you understand what is the meant of HODL, not a short-term traders. I believe Bitcoin will definitely return to its highest price, just like last year, but it’s uncertain when it will happen.
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What factors can affect to price of bitcoin? Can price of bitcoin depend on world economic factors or economic occurrences?
Of course, Bitcoin runs based on the market rules of supply and demand, the price’s determined by this. What affecting demand is the good news and FUD news related to Bitcoin, especially if it released by a major state governments because it will provide tremendous impact for the Bitcoin ecosystem. As a savvy user, we have to keep an eye on what's going on with Bitcoin. |
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Hopefully, hopefully there will be decisions or announcements from the government that benefit Bitcoin or maybe there is a miracle will occur Hello,
I am new in cryptocurrency world.so i have no idea about bitcoin price prediction.I want to know about price prediction....
f talking bitcoin price, all users only give predicted bitcoin price that will come, can correct and can be wrong. because the bitcoin price is always changing every time. you can analyze the price through the charts in each year before and you can know the price will go up and the price will drop in every month. I cannot see the pattern that happens in every year, I know the movements that occurred in Bitcoin’s price chart each year’s varies, can you teach me how do you analyze it? |
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if you have the benefits from bitcoin? you can promote bitcoin in many ways.
-By explaining bitcoin to others, spread the word about bitcoin and take note you must learn more about bitcoin to do this.
-If you have skills in blogging, design, video and photo editing, web design, etc. Create something different out of your skills to promote bitcoin.
-If you have business establishment try to experiment to accept bitcoin currency.
if you have any idea how to promote bitcoins just share here.
Maybe OP wants to know how to promote a product OP asked how to promote it. If you want to promote, social media can be the place for promotion, or you can hire a famous actor/actress who can help you to promote if you want to be quickly recognized by people. |
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I noticed Bitcoin is preferred not due its popularity, but on technical stand point is different, as it drops slower, and steady... while on altcoins, they have sharper movements. I would wait and not invest in neither though. I keep the part in bitcoin. part in the violas. But if I knew I would not buy bitcoin at a price of 17,000 because I have already lost a lot. Waiting for the summer or the new year when the price of bitcoin grows to 20,000. To profitably sell. I hope bitcoin will rise (
It will rise. All we need is faith. What happened at 17k was a market trend that can reoccur. Yes, you have to wait patiently, the price will surely go higher, that’s the risk of holding bitcoin no one know when the price will rise or dip because it all depends on the market ratio, supply and demand of bitcoin. |
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to be honest i have never seen anybody in real life that thinks bitcoin is a scam or Ponzi scheme. these are the things that i have always heard people say online!
your friends are either idiots or have ONLY been reading some FUD about bitcoin from one source and never even bothered googling what bitcoin is.
yup, maybe because they chose the wrong source of news, most of the media just highlight the surface of the news just to get visitors or readers, it should be able to dig further, but it’s back to the readers who should be s351marter and don’t take it trivial or closed their mind towards anything. |
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While I don't ever plan to purchase a home, it is good to know I could purchase one with Bitcoin. Hopefully one day that could expand to altcoins like Ethereum and other big caps, but for now this is fantastic!
Why do you can’t buy a house? Home can be used for many things especially investment, property business is a business that won’t die as long as humans still live on earth, it’s very promising because the value will continue increasing due to limited land available. I hope you can consider your thinking. |
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Hi, guys, I found few articles on the Internet stating that BCH will cross BTC in few months/years. Is there any possibility? Whats your opinion?
Article? Which article did you mean? Next time include the article link, so the news can be verified and not create confusion. BCH has been released since long ago and since then BCH remains below Bitcoin, its development never been heard on the surface. Ah yes, maybe this is a part of BCH promotion, I appreciate it, but it would be nice if you promote it through articles or news. |
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