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Author Topic: Does the Price of Bitcoin Matter?  (Read 302856 times)
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May 07, 2017, 08:29:34 AM
 #3201

The higher the price of bitcoin, the greater the overall virtual currency market size. Growing the market is good for all altcoins in general

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May 07, 2017, 12:17:09 PM
 #3202

The higher the price of bitcoin, the greater the overall virtual currency market size. Growing the market is good for all altcoins in general

The bigger market cap could even attract some pension funds.
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May 07, 2017, 01:13:34 PM
 #3203

We can't determine if how many but i can say that it is just a small amount of people back in the year of 2016 because the price is just starting to go up and most of them starts to sell and only a few of them still hold bitcoin. In the case of users of bitcoin in 2016, it still a few because bitcoin is not that popular and it just starting getting attention in the end of the year.
in fact there i no such mechanism through which we can find out the the real users of bitcoin. but i think from the the increasing price of bitcoin we determine that the number of bitcoin users are increasing, which is increasing the demand of bitcoin and so the price of bitcoin is raising high and high. hope that very soon users of bitcoin will be available in all over the world.
Indeed! Bitcoin users are increasing and it affects the price a lot and we can see that the price is still rising even the price break the latest ATH. I think this kind of movement of bitcoin is a sign for us that it is best for long term and in fact, i bought some bitcoin last week and i'm still holding them because i want to sell them for a 2000 USD price so i can enjoy my profits.
I usually like to spend my Bitcoin right when I receive it because I don't really know when the price will tank to zero value or have a really low price. Purchasing things online is one of the things that I also like to do when there is only Bitcoin in my money portfolio and nothing else because the transactions for Bitcoin is not that bad and the price of Bitcoin allows me to get a cheaper discount.



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May 07, 2017, 01:16:02 PM
 #3204

another reason why the price of bitcoin matter is, for miners

with better price the asic will cost less, which mean that more people are willing to invest in mining and increasing the security of the network
Whatever you use using bitcoins. Then the price will always be in need. Including when you use for mining. I think the high price will provide greater benefits

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May 08, 2017, 02:38:33 AM
 #3205

The higher the price of bitcoin, the greater the overall virtual currency market size. Growing the market is good for all altcoins in general

The bigger market cap could even attract some pension funds.
To add marketcap it also means to add adopter. I think most adopters are interested because they see such high prices today. Everything is interconnected

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May 08, 2017, 05:03:25 AM
 #3206

I usually like to spend my Bitcoin right when I receive it because I don't really know when the price will tank to zero value or have a really low price. Purchasing things online is one of the things that I also like to do when there is only Bitcoin in my money portfolio and nothing else because the transactions for Bitcoin is not that bad and the price of Bitcoin allows me to get a cheaper discount.
You are very lucky to spend bitcoin well, I can only spend bitcoin with gambling and when bitcoin price is going up I do not have bitcoin, I regret it can not sell bitcoin when the price is up and if I have bitcoin in my wallet, bitcoin price Is down, and this is always happening in my life, lol.

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May 08, 2017, 05:20:40 AM
 #3207

another reason why the price of bitcoin matter is, for miners

with better price the asic will cost less, which mean that more people are willing to invest in mining and increasing the security of the network
And also that they can sell their coins easily to pay for mining bills, as if the price goes down there is not much profit for miners due to which they have to close their rigs and wait for the price to go up.

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May 08, 2017, 02:36:30 PM
 #3208

I usually like to spend my Bitcoin right when I receive it because I don't really know when the price will tank to zero value or have a really low price. Purchasing things online is one of the things that I also like to do when there is only Bitcoin in my money portfolio and nothing else because the transactions for Bitcoin is not that bad and the price of Bitcoin allows me to get a cheaper discount.

One thing I can guarantee you, the price of bitcoin will never go down to zero or even "really low price" (although those terms are subjective). Simply because people have invested billions of money in bitcoins. Meaning, they can spend some more millions just to prevent the price of bitcoin to go down even further supposed that there's a major dump going on.

I really pity the people like you that didn't have the confidence to hold their coins. Selling your coins just take away the opportunity to sell at a peak price like this (i.e. $1600). Think about long term. Smiley Fiat will surely always has a value and it's not that volatile. But, it's inflating like crazy.
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May 09, 2017, 10:28:00 AM
 #3209

The price of Bitcoin does not really matter if the person that knows how Bitcoin works can spend it properly. The transaction fee right now is not that much of an issue because the price of Bitcoin is pretty low though if the price of Bitcoin lingers around the $100,000 range then a 0.0001 BTC fee would be pretty costly and not that many people would want to spend it if that transaction fee didn’t change.

It is unbelievable for me, as you think that price of bitcoin doesn't matter.
For example, price doesn't matter for the People than Why and What the reason people use the bitcoin?
Explain please...
Firstly, i feel people use bitcoin for its price value and than they use it for amount transfer. 

                                 
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May 09, 2017, 10:58:40 AM
 #3210

Price will matter a lot especially to those of us who are late entry adopters and investors of any cryptocurrency...
which will be a different scenario with early adopters who will not see prices to be a problem as they have risked money in the project before when bitcoin was not of value and very few people believed in it. Price will be a game of how you value bitcoin.
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May 09, 2017, 12:04:24 PM
 #3211

Price really matters for those investors who bought some bitcoin at a high price, and faced with a bubble. That people will be very disappointed that they will have sell at a low, or wait few years till price recover or increase.

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May 09, 2017, 04:38:16 PM
 #3212

I usually like to spend my Bitcoin right when I receive it because I don't really know when the price will tank to zero value or have a really low price. Purchasing things online is one of the things that I also like to do when there is only Bitcoin in my money portfolio and nothing else because the transactions for Bitcoin is not that bad and the price of Bitcoin allows me to get a cheaper discount.

One thing I can guarantee you, the price of bitcoin will never go down to zero or even "really low price" (although those terms are subjective). Simply because people have invested billions of money in bitcoins. Meaning, they can spend some more millions just to prevent the price of bitcoin to go down even further supposed that there's a major dump going on

I'm afraid that this won't work out

As it has never worked out in the past. If something is set to die, artificially keeping it alive will only make suffering worse (and I'm not even talking about wasting resources). For example, before automobiles people had been investing billions (in today's prices) in horse-breeding and stables, but horses were nevertheless quickly replaced by cars. In a nutshell, the fact that billions are invested in something won't guarantee it from decline when its time comes. People have invested piles of cash in dotcoms but the latter still scammed

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May 09, 2017, 04:43:43 PM
 #3213

Price really matters for those investors who bought some bitcoin at a high price, and faced with a bubble. That people will be very disappointed that they will have sell at a low, or wait few years till price recover or increase.
Bitcoin is not a get rich quick scheme and those investors which doesn't understand this basic thing always loose money in bitcoin world due to panic selling as they think that the price is dipping and it's better to have less money than no money and they sell their bitcoins in a bearish market.

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May 09, 2017, 05:03:15 PM
 #3214

Price really matters for those investors who bought some bitcoin at a high price, and faced with a bubble. That people will be very disappointed that they will have sell at a low, or wait few years till price recover or increase.
Bitcoin is not a get rich quick scheme and those investors which doesn't understand this basic thing always loose money in bitcoin world due to panic selling as they think that the price is dipping and it's better to have less money than no money and they sell their bitcoins in a bearish market.
Panic selling is human nature, and we can't stop this. What you said is correct it's better to have less money than no money. All people mindset is like this. No one will ready to lose their money. If you have patience and market knowledge then you will not get panic you will wait for the right to sell your coins.

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May 10, 2017, 02:58:47 PM
 #3215

I usually like to spend my Bitcoin right when I receive it because I don't really know when the price will tank to zero value or have a really low price. Purchasing things online is one of the things that I also like to do when there is only Bitcoin in my money portfolio and nothing else because the transactions for Bitcoin is not that bad and the price of Bitcoin allows me to get a cheaper discount.

One thing I can guarantee you, the price of bitcoin will never go down to zero or even "really low price" (although those terms are subjective). Simply because people have invested billions of money in bitcoins. Meaning, they can spend some more millions just to prevent the price of bitcoin to go down even further supposed that there's a major dump going on

I'm afraid that this won't work out

As it has never worked out in the past. If something is set to die, artificially keeping it alive will only make suffering worse (and I'm not even talking about wasting resources). For example, before automobiles people had been investing billions (in today's prices) in horse-breeding and stables, but horses were nevertheless quickly replaced by cars. In a nutshell, the fact that billions are invested in something won't guarantee it from decline when its time comes. People have invested piles of cash in dotcoms but the latter still scammed

As always, your analogy is on point. That was just my availability heuristic and thank you for enlightening me. I guess the scenario can be bitcoin making fiat obsolete, which is everyone here is waiting for, or a new technology (probably something that has implemented lightning network) will get everyone's attention. Since we're at the information age and communication isn't a problem to us, all active bitcoiner will find out about the new coin and it will quickly make bitcoin obsolete (assuming that it solved the transaction fee and time problem).
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May 10, 2017, 03:08:22 PM
 #3216

Price really matters for those investors who bought some bitcoin at a high price, and faced with a bubble. That people will be very disappointed that they will have sell at a low, or wait few years till price recover or increase.
Bitcoin is not a get rich quick scheme and those investors which doesn't understand this basic thing always loose money in bitcoin world due to panic selling as they think that the price is dipping and it's better to have less money than no money and they sell their bitcoins in a bearish market.
Panic selling is human nature, and we can't stop this. What you said is correct it's better to have less money than no money. All people mindset is like this. No one will ready to lose their money. If you have patience and market knowledge then you will not get panic you will wait for the right to sell your coins.

We cant erase that to the minds of some users here considering there is a history with bitcoin that went down so bad many times specially the part when it almost loses its value.
That is why its price always matter. When people see how great the amount of one thing is they tend to have faith in it. Add up the price to where it could reach.
Just like gold now which is at $1200+ but it can also reach at $1300+ so people are aiming for that number and put their faith that there will be a time it will reach that price again.

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May 10, 2017, 03:23:11 PM
 #3217

Quote

We cant erase that to the minds of some users here considering there is a history with bitcoin that went down so bad many times specially the part when it almost loses its value.
That is why its price always matter. When people see how great the amount of one thing is they tend to have faith in it. Add up the price to where it could reach.
Just like gold now which is at $1200+ but it can also reach at $1300+ so people are aiming for that number and put their faith that there will be a time it will reach that price again.

Yes, every movement in market has memory. Someday, it will re-touch the price again. Support and resistant is always there. Bitcoin price's matter when it's above the resistant line, where the eyes of investors are fixed on it and investing funds. By argument, prices will continue to rise.


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May 10, 2017, 03:33:22 PM
 #3218

For true devotees of Bitcoin, the price of the digital currency is almost irrelevant. They believe in its inherent value or, more frequently, cannot see any value at all in the alternative of government issued fiat currency. Price is therefore not a concern. At the other end of the spectrum, for those that harbor what appears to be an irrational hatred of Bitcoin and anything to do with it, the exchange rate also matters little. They were screaming that it was all worthless when the price was at over $1000, and somehow convince themselves that an exchange rate of over 200 times what it was before that bubble proves their point. For the vast majority of people somewhere in the middle, however, the price of the currency in Dollar, Euro, Yuan or whatever terms are important.

Read more: http://www.nasdaq.com/article/does-the-price-of-bitcoin-matter-cm476312#ixzz3a1cH4qcU

The price matters today because we don't have a full economy based in BTC. At some point will be necessary to exchange BTC for something else, and then, the price will matter. A lot.
Most people are in BTC because of its price. Not the current, but the price that can be achieved by it.

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May 10, 2017, 03:58:21 PM
 #3219

What actually matter is not the actual price, it's the trend.
If the price is stable or rising, the adoption increases. People and businesses get more confident in bitcoin and start using it. More miners start up their gears.
If the price is falling, people get scared / suspicious and will go away from bitcoin.

Yes, Like what I've read before, There are some similarities. Because the price of bitcoin is unstable. Sometimes it rises, sometimes it falls. Since the price is rising now at about 80k, then I can say it is matter. Because what matters most, we are talking about money.  Smiley

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May 10, 2017, 04:48:56 PM
 #3220

From how thing are in the work for current price this will be key point to say that for the moment price for one bitcoin really matter and not just that also major alt are in follow for current price range. For the moment we can all enjoy and be happy with the current process price is going up slowly for few % every day. So we can all say that statement is correct that price really matters.



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