SAHASAN (OP)
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May 02, 2024, 08:47:50 AM |
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This is what Bitcoin BTC creator Satoshi Nakamoto said It is an electronic cash. I think it is an electronic cash. So the question is why the price of Bitcoin increases? Why do we want to save?Answer: In fact Bitcoin price does not rise, in fact the value of government money is gradually decreasing from -3x to -6x to -16.......and more wil decreasing in future. BTC 1 Bitcoin was worth 1$ in 2010 Now Today' (2-May-2024). 1 Bitcoin is worth 57000 dollars, 1 Bitcoin is 57000$ means 57000$ worth of money has gradually reduced to 1$ and bitcoin has a power to show it clearly. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) And that is the invisible depreciation of inflation and we are become safe when we hold Bitcoin. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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Plaguedeath
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May 02, 2024, 09:00:31 AM |
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You shouldn't mix short term and long term at the same time. You say why Bitcoin price doesn't increase, why it declines to $57K right now... it's short term. Look at this picture, honestly if you bought USD from 60 days ago, you're in profit right now. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fimgvb.com%2Fimages%2F2024%2F05%2F02%2F627f905389c26cbab4e2b8a539c3b1d5.png&t=665&c=j4el1GjAsfR3zg) Talking about Bitcoin price when it was $1 is no longer make sense anymore since the market is quite strong now.
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btc78
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Eloncoin.org - Mars, here we come!
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May 02, 2024, 10:21:54 AM |
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![Cool](https://bitcointalk.org/Smileys/default/cool.gif) And that is the invisible depreciation of inflation and we are become safe when we hold Bitcoin. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) What’s really attractive about bitcoin is that we can use it to fight against inflation. Inflation is bound to happen in any country and there is nothing we can do to stop it however there is something we can do to protect ourselves from the damaging impacts inflation has. By holding our money in bitcoin, we can be confident that it will not be affected by inflation although of course it is volatile in its own so there are still some risks of it losing value. But it is not as constantly decreasing as our fiat.
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Dave1
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May 02, 2024, 10:31:25 AM |
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This is what Bitcoin BTC creator Satoshi Nakamoto said It is an electronic cash. I think it is an electronic cash. So the question is why the price of Bitcoin increases? Why do we want to save?Answer: In fact Bitcoin price does not rise, in fact the value of government money is gradually decreasing from -3x to -6x to -16.......and more wil decreasing in future. BTC 1 Bitcoin was worth 1$ in 2010 Now Today' (2-May-2024). 1 Bitcoin is worth 57000 dollars, 1 Bitcoin is 57000$ means 57000$ worth of money has gradually reduced to 1$ and bitcoin has a power to show it clearly. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) And that is the invisible depreciation of inflation and we are become safe when we hold Bitcoin. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Yes, it was designed to be peer to peer electronic cash by Satoshi and in the beginning it is working as designed, but throughout the years, it evolved to be an asset or store of value. I don't know what you meant by depreciation though, Bitcoin price is very volatile, and base on cycle, the price can go down hard, and we term that bear cycle. And then when the price are going up, like the one that we are seeing this year, then we are in a bull run. But as you have said, just continue to save and accumulate and sooner we might see the price increasing again and the prediction is that we might see 6 digits in the future.
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Catenaccio
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May 02, 2024, 10:34:38 AM |
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Answer: In fact Bitcoin price does not rise, in fact the value of government money is gradually decreasing from -3x to -6x to -16.......and more wil decreasing in future.
BTC 1 Bitcoin was worth 1$ in 2010 Now Today' (2-May-2024). 1 Bitcoin is worth 57000 dollars, 1 Bitcoin is 57000$ means 57000$ worth of money has gradually reduced to 1$ and bitcoin has a power to show it clearly.
Fiat currencies are very inflationary because governments can order massive money printings to their central banks and do things that are harmful for their fiat currency purchasing power like QEs. Bitcoin is inflationary too but it is a cap of total supply, 21 millions, no more. It's difference on their circulating and total supplies but there is a more important difference. With fiat currencies, bank accounts, you don't control your money but the control of your money belongs to the bank, central bank and government. They can seize your account and fund any time. With Bitcoin, you have private keys by which you have full control of your bitcoins. This is one of main reasons people believe in future of Bitcoin and consider it as a heaven for their asset storage.
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EluguHcman
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May 02, 2024, 11:32:27 AM |
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Answer: In fact Bitcoin price does not rise, in fact the value of government money is gradually decreasing from -3x to -6x to -16.......and more wil decreasing in future.
BTC 1 Bitcoin was worth 1$ in 2010 Now Today' (2-May-2024). 1 Bitcoin is worth 57000 dollars, 1 Bitcoin is 57000$ means 57000$ worth of money has gradually reduced to 1$ and bitcoin has a power to show it clearly.
Fiat currencies are very inflationary because governments can order massive money printings to their central banks and do things that are harmful for their fiat currency purchasing power like QEs. Bitcoin is inflationary too but it is a cap of total supply, 21 millions, no more. It's difference on their circulating and total supplies but there is a more important difference. With fiat currencies, bank accounts, you don't control your money but the control of your money belongs to the bank, central bank and government. They can seize your account and fund any time. With Bitcoin, you have private keys by which you have full control of your bitcoins. This is one of main reasons people believe in future of Bitcoin and consider it as a heaven for their asset storage. You gain my applause. Lol. Both the digital and non digital currencies are all inflationary but while outlining the volatility nature of both Bitcoin and the fiats, they're of difference because Bitcoin inflation is known for volatilities fluctuations where the rate of the value surges so high and the deflation is a period which its value depreciates and the values depreciates as much. The input and the output reactions of Bitcoin values is depended on the ratio of the demands and the supplies which means the more wider the masses adopts Bitcoin, so also it enhances its volatile potentials to gain more values and the more investors are in demand of more Bitcoins to buy is the more it gains more values considering that the Bitcoin is a limited to a maximum number of 21 Millions of Bitcoin in existence. So for that it would give it more walls to surge higher than it has ever been based on the price histories in as much there are still more of investors in demands to buy more . That is obviously to say that the invention of the Bitcoin digital currency is a non-custodian financial technology that every Bitcoin holders are responsible and holding alright reserved to control their Bitcoin assets without adhering to the polices of the governments or any authority. That is basically unlike the fiats that the government are in control about and does not have a limited number of printed more. And the sake that excessive number of money is being printed would always have the fiats depreciated whereas the reserve is much more than the demands. The governments even contributes to devaluing of the fiats as such dubious authorities from the central banks can just decide to have a specific amounts of money being printed specially for their own usage and get deposited to their bank accounts all to increase their financial portfolios. Meanwhile... It is not more becoming so competitive in demands my the public so, then the values are lost for exchange. The centralization of the Fiats where the government all at all course in-charge from having accesses and controlling of individual funds has already become a disregard of the fiats in the fact that bank account holders does not have Privacies and personal decision making of their funds. Also, the rate of living in a country or society Such as the cost of goods can as much devalue the fiats where inflation to the hike of goods has surpasses the value of the fiats. Just in a short, the federal government are responsible and can manipulate the fiats due to its centralization policy while Bitcoin can not be manipulated as the fact that it is a decentralized digital and non-custodian currency.
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Husires
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May 02, 2024, 01:16:47 PM |
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It is true that the value of the dollar is declining, but it is impossible for the rate of decline to be as rapid as the increase in the price of Bitcoin, as the percentage of Bitcoin market capacity is about 1 trillion compared to the American economy, which is greater than 30 trillion dollars, so Bitcoin cannot affect the dollar. The value of the dollar is contradictory, but the value of Bitcoin is increasing, so the price of Bitcoin has risen sharply over the past 10 years.
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stompix
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May 02, 2024, 01:36:30 PM |
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Now Today' (2-May-2024). 1 Bitcoin is worth 57000 dollars, 1 Bitcoin is 57000$ means 57000$ worth of money has gradually reduced to 1$ and bitcoin has a power to show it clearly. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) And that is the invisible depreciation of inflation and we are become safe when we hold Bitcoin. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) And between 2020 and 2022 Tesla shares have gone up 20 times while Bitcoin appreciated only 5 times, so that means Tesla shares brought down the price of Bitcoin by 4 times! See how illogical those things are? If Bitcoin brought down the value of the USD so did Apple, so did Microsoft and so did Coca-Cola! But wait, Dash went down from 1220$ to 25$ does this mean that Dash is supporting the $? Lol! It is true that the value of the dollar is declining, but it is impossible for the rate of decline to be as rapid as the increase in the price of Bitcoin, as the percentage of Bitcoin market capacity is about 1 trillion compared to the American economy, which is greater than 30 trillion dollars, so Bitcoin cannot affect the dollar. The value of the dollar is contradictory, but the value of Bitcoin is increasing, so the price of Bitcoin has risen sharply over the past 10 years.
Bitcoin can't go up without dollars infused in the market, that's one of the things I don't understand how can people omit, like any kind of tradable or investing mechanism you need money poured into it to make it more valuable, it's the same for gold, for shares, for crypto, for real estate for everything. The size of the economy grows as long as those grow also, you can't have all assets multiplying their value while the economy goes down.
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kryptqnick
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May 02, 2024, 02:03:39 PM |
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For money to function, its value doesn't need to increase (and it seems that a lot of economists believe that it actually should decrease to motivate people to spend it). So that makes the op's question about the price of Bitcoin legitimate. Bitcoin is seen by many as an investment, and also, its price isn't regulated by anyone. That's why when there's roughly the same amount of coins, but there's way more demand, the price increases naturally. As for the answer the op suggests, I disagree. It IS true that fiat value decreases, and $100 in 2010 is around $143 today if we adjust for inflation. But then there's another thing to consider: purchasing power. Nowadays, you can buy a car with 1 Bitcoin. In 2010, it was far from enough to buy even a single pizza.
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avikz
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May 02, 2024, 02:10:43 PM |
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This is what Bitcoin BTC creator Satoshi Nakamoto said It is an electronic cash. I think it is an electronic cash. So the question is why the price of Bitcoin increases? Why do we want to save?Answer: In fact Bitcoin price does not rise, in fact the value of government money is gradually decreasing from -3x to -6x to -16.......and more wil decreasing in future. BTC 1 Bitcoin was worth 1$ in 2010 Now Today' (2-May-2024). 1 Bitcoin is worth 57000 dollars, 1 Bitcoin is 57000$ means 57000$ worth of money has gradually reduced to 1$ and bitcoin has a power to show it clearly. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) And that is the invisible depreciation of inflation and we are become safe when we hold Bitcoin. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Well Bitcoin is more of an investment now! And I strongly believe that it's global user base and strong demand helped Bitcoin's price to increase. Bitcoin is not Limited to a cash transaction system anymore. What satoshi had said, is a different angle towards it. The global currency system did not see inflation of 57000%. So it makes no sense to discuss further about it. Bitcoin was initially launched as a currency but it became an investment because this is what people wanted it to become.
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Sim_card
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May 02, 2024, 02:18:22 PM |
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Bitcoin is an hedge to inflation because it is the opposite to fiat. While USD depreciates overtime due to printing more money, bitcoin price increases because of the high rate of adoption, as investors have seen bitcoin a store of value and investment. In 2010, bitcoin worth nothing because nobody have understood the potential value of bitcoin, but as time passes on, people begin to understand the purpose of bitcoin creation and the problem it solves, making the value of bitcoin to increase overtime. We need more dollars to buy more Bitcoin. Majority of investors have built their confidence and trust on bitcoin, while fiat, the bank and the government cannot be trusted ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Ftalkimg.com%2Fimages%2F2024%2F05%2F02%2Fr3YKq.jpeg&t=665&c=tDwvhwsaUql1nQ)
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Aanuoluwatofunmi
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May 02, 2024, 03:03:31 PM |
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So the question is why the price of Bitcoin increases? Why do we want to save?
In economics, we were being taught that the more there is an increase in demand, the higher the tendencies for the market price to increase, Bitcoin has never been on the same spot ever since it's creation, its volatility alone has brought in several opportunities for it investors to make profits with it, the value increases as we are having a shortage in it supply, it has developed many benefits in which we couldn't have seen with fiat and the more people are running to take advantage in making investments in bitcoin by adoption.
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retreat
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May 02, 2024, 03:38:21 PM |
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BTC 1 Bitcoin was worth 1$ in 2010 Now Today' (2-May-2024). 1 Bitcoin is worth 57000 dollars, 1 Bitcoin is 57000$ means 57000$ worth of money has gradually reduced to 1$ and bitcoin has a power to show it clearly.
So far, this is the explanation about the increase in Bitcoin prices that is most beyond my understanding. How could you come up with an explanation like this, I even have to question my knowledge about it LMAO.
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m2017
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Activity: 1932
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Crypto Casino and Sportsbook
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May 02, 2024, 03:58:25 PM |
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This is what Bitcoin BTC creator Satoshi Nakamoto said It is an electronic cash. I think it is an electronic cash.
Bitcoin was created as electronic cash, but BTC's share in the electronic money market is quite low. PayPal's active user base is incomparably higher in the world than bitcoin (286 million). Precisely those who use it as electronic cash. But I think that bitcoin is a speculative investment instrument. Which one of us is right? ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) So the question is why the price of Bitcoin increases? Why do we want to save?
The answer is greed. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Bitcoin price is rising due to the greed of investors who want to increase their wealth. Greed also encourages saving (not wanting to spend). Answer: In fact Bitcoin price does not rise, in fact the value of government money is gradually decreasing from -3x to -6x to -16.......and more wil decreasing in future.
Well, yes, the value of money decreases and this is called inflation, because the amount of money in global circulation is growing, which accordingly reduces its value. To adequately assess the decline in the value of money, you need to look at inflation in each country relative to the dollar, but there is a nuance. As usual, the authorities underestimate official inflation figures. BTC 1 Bitcoin was worth 1$ in 2010 Now Today' (2-May-2024). 1 Bitcoin is worth 57000 dollars, 1 Bitcoin is 57000$ means 57000$ worth of money has gradually reduced to 1$ and bitcoin has a power to show it clearly.
Are you saying that USD has depreciated by 57,000% in more than 10 years? There are some minor errors in your math. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) And that is the invisible depreciation of inflation and we are become safe when we hold Bitcoin. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Just the opposite. Inflation is very visible with every shopping trip.
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hatshepsut93
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Activity: 3038
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May 02, 2024, 09:28:11 PM |
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Answer: In fact Bitcoin price does not rise, in fact the value of government money is gradually decreasing from -3x to -6x to -16.......and more wil decreasing in future.
Posts like this is why some people don't take Bitcoin seriously, some Bitcoiners are very stubborn in their display of ignorance of the most basic economics. At the beggining of Bitcoin a few pizzas costed tens of thousands coins, today a pizza costs a tiny fraction of Bitcoin. So either Bitcoin went up by a lot in these years, or the value of pizza reduced by 10 orders of magnitude. I think it's easy to tell which one is the case.
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PrivacyG
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May 02, 2024, 11:29:16 PM |
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Answer: In fact Bitcoin price does not rise, in fact the value of government money is gradually decreasing from -3x to -6x to -16.......and more wil decreasing in future.
Partially this is true. But not entirely. The Dollar has not been devalued over sixty THOUSAND times in the last decade. It had a very significant purchasing power decrease, along all the other Fiat Currencies. But hell. If the Dollar had a devaluation of over 60 THOUSAND times then we would all be living in a much more hell of a world right now than we currently are. The price of Bitcoin rose due to multiple variables and events. Such as Halvings. A LOT of people entering the Bitcoin ecosystem in the past decade, particularly in the beginning years of Bitcoin. The Dollar losing value. Et cetera. If Bitcoin gains 50 percent by tomorrow it does not mean the Dollar has been devalued to half its purchasing power. It just means that Bitcoin had a gain.
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BTC_Dragon
Jr. Member
Offline
Activity: 35
Merit: 2
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May 02, 2024, 11:58:41 PM |
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Not only does it combat inflation, but corrupt centralization as well.
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SatoPrincess
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May 03, 2024, 12:48:27 AM |
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So the question is why the price of Bitcoin increases? Why do we want to save?
Economics my friend. The law of demand and supply is what drives the price of Bitcoin. Since the creation of Bitcoin, more and more people have come to see bitcoin as a hedge against inflation. Many acquire bitcoin as an asset as they see the value in saving money in Bitcoin over saving in fiat. Answer: In fact Bitcoin price does not rise, in fact the value of government money is gradually decreasing from -3x to -6x to -16.......and more wil decreasing in future.
BTC 1 Bitcoin was worth 1$ in 2010 Now Today' (2-May-2024). 1 Bitcoin is worth 57000 dollars, 1 Bitcoin is 57000$ means 57000$ worth of money has gradually reduced to 1$ and bitcoin has a power to show it clearly. By your logic, the value of Bitcoin is not increasing rather it is the dollar that is losing value. Bitcoin is not pegged to the dollar neither is it backed by the dollar. Your theory would have made some sense if you were talking about stable coins and not Bitcoin.
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davis196
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May 03, 2024, 06:03:20 AM |
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This is what Bitcoin BTC creator Satoshi Nakamoto said It is an electronic cash. I think it is an electronic cash. So the question is why the price of Bitcoin increases? Why do we want to save?Answer: In fact Bitcoin price does not rise, in fact the value of government money is gradually decreasing from -3x to -6x to -16.......and more wil decreasing in future. BTC 1 Bitcoin was worth 1$ in 2010 Now Today' (2-May-2024). 1 Bitcoin is worth 57000 dollars, 1 Bitcoin is 57000$ means 57000$ worth of money has gradually reduced to 1$ and bitcoin has a power to show it clearly. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) And that is the invisible depreciation of inflation and we are become safe when we hold Bitcoin. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) 1.I guess that Satoshi Nakamoto couldn't predict that Bitcoin will turn into "digital gold" instead of being a normal "electronic cash" type of currency. 2.You are wrong about the USD devaluation. Just because the BTC price went from 1 dollar to 57K dollars, that doesn't mean that the USD dollar has been devalued 57000 times. The Bitcoin price is growing due to mass adoption/growing demand and limited supply + the army of HODLers, who are willing to wait for a higher price before they sell. Fiat money losing value also have a role in this growth, but this isn't the main factor behind Bitcoin's price pumps.
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hugeblack
Legendary
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Activity: 2632
Merit: 3890
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May 03, 2024, 08:33:14 AM |
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As the members mentioned above, the US dollar is deeply penetrated into the global economy, and 5% inflation has caused all these economic problems, let alone its value to decline to this degree. Bitcoin has increased and grown in a healthy way, and there will come a time when the price will be stable. This increase is not linked to global economic or political events, as Bitcoin does not show continuous interaction with events, but rather moves more independently of the economy.
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