Does the Price of Bitcoin Matter?

[johnyj]

The long term price appreciation trend must be hold to make bitcoin success

Suppose that bitcoin's price does not double every 4 years, but dropped after 4 years, then it will not hold its promise as long term store of value due to its deflative nature. Without this character, it will lose lots of supporters and go even worse. Today 90% of the coins are hold by the long term investors

In theory, reward halving will reduce the new money supply by 50%, similar to FED suddenly cut its money supply by half every 4 years, thus the price of bitcoin should at least double after each reward halving

Reward halving will drive lots of existing mining equipment out of business. With diminishing mining income, many will give up mining and purchase the coin directly, this will reduce the difficulty and raise the price

[1714819327]

1714819327

[planetroving]

Yes, the price of Bitcoin does matter. Too high, and not many will buy but many will sell. Too low, and people will lose interest. I'd say it's about balance. That's what I believe in short.

[Silly Money]

The price or value of bitcoin is a double edged sword to me. The fluctuations make it poor as a spendable currency but those same fluctuations are attractive to speculators and it makes bitcoin a possible investment. The fluctuations also however stop merchants holding onto or dealing directly with their bitcoins so they choose a payment processor instead.

[AtheistAKASaneBrain]

It sure does. From an investor's POV for obvious reasons, since if it goes too low a lot of people get scared and shaken. From a miner's POV too, lots of scared dudes out there, or simply dudes that can't afford mining at a loss for a long time. From a consumer's POV, because stability would be better than high volatility.

[Benjig]

It matters but everything has its pros and cons:

The price fall has coincided with a literal doubling of the network's transaction volume. This means that Bitcoin is no longer a speculative investment, but is becoming an everyday payment method.

Early on in Bitcoin's timeline, there was hardly anywhere to spend it, so users bought far more than they spent. But now that bitcoins can get you a hotel, flight, shoes, and an apartment in San Francisco to boot, they're being spent – that is, sold – at a much higher rate.

[Clegg]

The price fall has coincided with a literal doubling of the network's transaction volume. This means that Bitcoin is no longer a speculative investment, but is becoming an everyday payment method.

Not necessarily. It's still mostly a speculative investment but the number of transactions doubling doesn't necessarily it's being used as a currency or to buy things. Most people will be buying to hold or maybe just to earn then cash out.

[Pab]

It matters,to cover mining electricity cost bitcoin price hasto beabout 500$
all the rest is relative
now dollar is high to euro and to manycurrencys relatedto euro and to emerging currencys
whatever will be nice to see bitcoin with 600$ stable price,isnt it

[mrhelpful]

To a good majority, yes price does matter.

But technically at the same time, theres a small percen of people who see more value as something else then just a priced asset.

Right now, this seems to be the only way to hold real money, since its not being printed like fiat.

[BrianM]

In my opinion:
The price of bitcoin only matter in time of exhange.
If you convert from fiat to bitcoin, or from bitcoin to fiat,
then is the price relavant.
In all other cases then is 1 BTC = 1 BTC.

[Slark]

Yes, it matters to some extent, but I will continue using Bitcoin no matter what the price is.

Most people (including myself) will use Bitcoin regardless of the price.

But would you hold your coins for let's say a few years if price was not important to you? I wouldn't. I would just buy coins when I need to pay someone or to buy stuff online.

Oh, really? I think you are talking like that because you know or are convinced that bitcoin price won't reach some ultimate bottom like below $50.  For now price is still above $200 - not so tragic.
I doubt that people would be interested if price went to bottom like crazy, it would be mass dump and panic. I personally would sell all my coins and call it done.

[1Referee]

Yes, it matters to some extent, but I will continue using Bitcoin no matter what the price is.

Most people (including myself) will use Bitcoin regardless of the price.

But would you hold your coins for let's say a few years if price was not important to you? I wouldn't. I would just buy coins when I need to pay someone or to buy stuff online.

Oh, really? I think you are talking like that because you know or are convinced that bitcoin price won't reach some ultimate bottom like below $50.  For now price is still above $200 - not so tragic.
I doubt that people would be interested if price went to bottom like crazy, it would be mass dump and panic. I personally would sell all my coins and call it done.

Yes. Really. I believe in Bitcoin. I am realistic enough to know that it won't reach anything higher than $5000, if ever.

If I ever had the impression that Bitcoin would have a small chance of getting dumped to the ground, I wouldn't hold a single satoshi. Same applies for when price wouldn't be important to me.

People are different. Where people are ready to panic sell and take huge hits, there are other people making loads of money by getting in at the right moment.

[techgeek]

Price does matter for me.

But, I actually invested more for that blockchain technology that people unvalue so much.

[BIT-Sharon]

I feel Bitcoin is just like gold which has its own value that the fiat currency doesn't have.

[Amph]

In my opinion:
The price of bitcoin only matter in time of exhange.
If you convert from fiat to bitcoin, or from bitcoin to fiat,
then is the price relavant.
In all other cases then is 1 BTC = 1 BTC.

still his intrinsic value(which is related to the price) does matter on a high degree, because it mean more buying power, so you can say 1 btc = btc, but that equation will have a better value in the future(or worse)

so it always matter even if you take out fiat price counterpart

[steelhouse]

marketcap matters.  Take some of the non-inflationary cryptos and they suck it is hard to sell them for a constant price.  You sell $1000 in them and you might drop price 50%.

[cbase]

If I answer you no then I'll be lying. Even though my hope is for us to see 1 btc equivalent to 1 btc some day with the price of fiat mean nothing to us, the current movement of the price still gives us the indication in how well accepted btc is and its demand. I do agree with your reasoning but until the I will still closely follow the btc price movement.

I completely agree with you, but I would like to add that bitcoin is so so so much more valuable than the current prices. The tech that goes into crypto currency, i.e. Block chain mechanism, is the relevant thing at this point in time. The security and the decentralized nature really excites me and is probably the greatest asset which can only get more secure in the future, so the road only goes up

[volatilebtc]

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 is important.

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

No it doesnt matter , please send 500 btc to me . I wont mind .

[bornil267645]

I don't care whether the price is at 1$ or 1000K, the only thing matter is that bitcoin having a stable market value like all the other currency so that people and companies can put their trust in them and starts accepting them. Only then the price of the bitcoin (whatever the price at that point) will matter.

[SOAD]

I don't care whether the price is at 1$ or 1000K, the only thing matter is that bitcoin having a stable market value like all the other currency so that people and companies can put their trust in them and starts accepting them. Only then the price of the bitcoin (whatever the price at that point) will matter.

The ideal and best case scenario in my opinion would be to have a couple of years of volatility and for the price to rise considerably, then taper off and stabilize at a good value. That way we can all be rich and then not be afraid to spend our new found wealth and it's now awesome purchasing power hehe. Regardless of that dream, I would like it to actually stabilize sooner rather than later but I'm sure not sure if it ever will remain as steady as other fiat currencies.

[arallmuus]

I don't care whether the price is at 1$ or 1000K, the only thing matter is that bitcoin having a stable market value like all the other currency so that people and companies can put their trust in them and starts accepting them. Only then the price of the bitcoin (whatever the price at that point) will matter.

Actually most companies do relly their judgement of BTC from the price as well. Even if the market stabilized, most companies wont be accepting BTC if the price is were only a few cents for each BTC. The fact that BTC rose to $1200 is the only reason why most companies is eyeing BTC right now. Most people wont even pay attention to it if the price were only 0.001$/ BTC or so