A logical question. There must be an upper price limit ?

[sporty90]

Hey,

I am asking myself, do we need a upper price limit for the future ? I just think about this scenario all the time. What is happening if the Bitcoin would supported and legal all over the world or in a lot of countries ? Just my opinion what I would do, I would buy as much Bitcoin as possible because from this point it is relative safe, I would try to spend as little money as possible and here are my reasons.

- If I would buy today something for $1000 it is possible that this $1000 would have a much higher value in the future, so I would think twice about spending my money, I would spend my money just for necessary things and maybe not for leisure thing, mobile phones or a expensive car, what would happen if many people act that way ?

I am curious to hear your opinion.

[Xavofat]

1.  We can't just change the price.  The price changes from supply and demand.  Implementing a limit would be impossible.

2.  The price increasing does not inherently make Bitcoin less usable.  Simply use smaller units of Bitcoin.

3.  If there was an upper price limit, it would never be reached because people would not buy knowing that the only possible way for the price to go is down.

[Bitophile]

To be honest, most people started thinking BTC as a store of value instead of a currency. It was mainly due to the ever increasing price in the last few months. Now that the price has started to stabilize, this mind set might change (But as you say most people may still be afraid to spend)

[olushakes]

Hey,

I am asking myself, do we need a upper price limit for the future ? I just think about this scenario all the time. What is happening if the Bitcoin would supported and legal all over the world or in a lot of countries ? Just my opinion what I would do, I would buy as much Bitcoin as possible because from this point it is relative safe, I would try to spend as little money as possible and here are my reasons.

- If I would buy today something for $1000 it is possible that this $1000 would have a much higher value in the future, so I would think twice about spending my money, I would spend my money just for necessary things and maybe not for leisure thing, mobile phones or a expensive car, what would happen if many people act that way ?

I am curious to hear your opinion.

The world does not work that way. The reason why you have such excess is because someone is willing to spend excess from the one he has. If we all hoard our resources and there is little or less money to go round it then means a job of $10 will now be done for 2$ because of such scarcity of funds in the economy. The system is being designed to be able to meet everybody both the thrifty ones and the flamboyant ones. Its about compensating each other.