Does the Price of Bitcoin Matter?

[cellard]

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

But why not tho?
If you had a company, and they offered you 1 million USD in BTC, you would say no because BTC were a few cents a dollar? money is money.
Of course, having a high price is attractive, and actually unavoidable as time goes on and satoshi predicted, what we saw as a bubble, and bigger bubbles will happen, establishing higher floors.

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[thy]

The price of Bitcoin does matter for many people, for example those that invests in, trade, mine or get there salery in bitcoins, also for merchants accepting bitcoins as payment and keep part of there sold amount in bitcoins.
If btc will reach mass adoptation in the future, lets say 1% of a worlds population of 7 billion people will keep on avg 10 000 usd in btc simular to an investment in gold to become more independent of fiat currencys then as less than all bitcoins would have been mined by then the price per bitcoin will have to be over 10 000*7 000 000 000*0.01/21 000 000 = over 33 333 USD per bitcoin to handle the demand from people that want another option when many countrys fiat currencys will default in the future.

[Amph]

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

But why not tho?
If you had a company, and they offered you 1 million USD in BTC, you would say no because BTC were a few cents a dollar? money is money.
Of course, having a high price is attractive, and actually unavoidable as time goes on and satoshi predicted, what we saw as a bubble, and bigger bubbles will happen, establishing higher floors.

low price is dangerous, because you can have few companies with a large quantity of bitcoin, potentially lead to a centralized control of the supply, this mean that if the price then rise for whatever reason, a big dump will just crash it, creating a very unstable market, not healthy at all for bitcoin

[alh]

It would seem to me that Bitcoin is going to have get way more "valuable" compared to the USD. Assume for the moment Bitcoin stabilized at $10. When the last of 21 million coins are "minted", you now have a total money supply of $210 million to work with. That's seems way to small to me to support any significant economy. Based on current number, the US has 1.36 Trillion dollars in currency in the form od Federal Reserve Notes. I assume that's actual bills in circulation.

So where does $210 Million fit in? It's smaller than a rounding error. Make it $100 or even $1000 and it still isn't significant. I expect it fares equally poorly to other major currencies (e.g. Euro).

[kampretkabur]

of course it matters, thats why im here LOL

[Yakamoto]

To me, the price of Bitcoin doesn't matter a whole lot, but it does contribute to some of my interest with it.

Regardless what happens, as long as the price is greater than $50, goods and services will scale around it, so you'll get paid the same for x amount of work, and you'll pay the same for x amount of work, in a fiat/USD sense.

Aside from that, however, as long as there is money to be made, there will always be new developments and information to find.

[MinerHQ]

In my opinion the price itself does not matter, but its estability do. I think a lot of companies are not accepting bitcoin because of its volatility, once it reaches calm, adoption will increase.

For any thing in this world, price will matter. No exception to bitcoins. It it goes to $1, will do spend so much time on bitcoins?

[mattiadeabtc]

In my opinion the price itself does not matter, but its estability do. I think a lot of companies are not accepting bitcoin because of its volatility, once it reaches calm, adoption will increase.

For any thing in this world, price will matter. No exception to bitcoins. It it goes to $1, will do spend so much time on bitcoins?

If it goes to $1 everyone will buy btc and the value will rise up. btw, the price always matter, how many mainstream was the bitcoin at 1000$ each, draw your own conclusions

[OBAViJEST]

This is a horribly loaded question, and honestly a waste of time to argue...

Why wouldn't it matter?

[Erdogan]

I does not matter to people who want to use it to lubricate the trade, as a medium of exchange.

It does matter for people who save.

[BillyBobZorton]

I does not matter to people who want to use it to lubricate the trade, as a medium of exchange.

It does matter for people who save.

And im pretty sure it also matters to miners. If Bitcoin went back to $10 (i know, not gonna happen, just as an example) how would miners deal? should we admit that naturally lots of miners would leave, therefore the miners that keep mining would get a bigger % of the pie due decreased difficulty?

[HeroCat]

Of course, BTC price matters  But as always BTC price is going up and down all the time, in longer periods we can see the exact BTC price level 

[Amph]

I does not matter to people who want to use it to lubricate the trade, as a medium of exchange.

It does matter for people who save.

And im pretty sure it also matters to miners. If Bitcoin went back to $10 (i know, not gonna happen, just as an example) how would miners deal? should we admit that naturally lots of miners would leave, therefore the miners that keep mining would get a bigger % of the pie due decreased difficulty?

decrease difficulty will lead to an insecure network, from this point of view the price matter more than anything, also the price, generally speaking matter because otherwise there would not be enough bitcoin for everyone, if big investors start to use it on a large scale

[Derrike]

For me,  yes it matters.
I usually pay my Mobile phone bills with bitcoins.
I earn bitcoins with signature campaign and some online skill based games then pay my bills and is going smoothly from a long time.

[alva5763]

The value matters if you are either buying or selling goods using bitcoin. You either gain extra or have to give extra goods if price fluctuates. Retailers need a stable currency for trading.

[Erdogan]

I does not matter to people who want to use it to lubricate the trade, as a medium of exchange.

It does matter for people who save.

And im pretty sure it also matters to miners. If Bitcoin went back to $10 (i know, not gonna happen, just as an example) how would miners deal? should we admit that naturally lots of miners would leave, therefore the miners that keep mining would get a bigger % of the pie due decreased difficulty?

Yes, they too. If price goes down, they will have to scale back eventually, but first deinvest by running down their equipment if they can.

[Erdogan]

And don't forget that it must have some value to be useful in exchange at all. But it is the demand to hold that drives the price, whether it is savers or just persons and businesses keeping a suitably small cash balance.

In my view the store of value is the crucial function of money, but it is supported by the fact that it is traded and can easily be traded (else there would be no point of holding). The unit of account function is least important, if important at all.

[MF Doom]

I think the price matters to some extent, I mean if the price goes down to single digits, I think that would be pretty bad.

However, I think a more interesting and important number to point out would be the total amount of money invested in the bitcoin infrastructure.  This number will really show you how confident people, investors and companies, are in the future potential of btc.  That is a much more useful (and bullish) number to me.

[Slark]

If you think price is not one of the most significant qualities of a coin you are either being naive or stupid. Look at other altcoin - some of them have even better features, Litecoin with robust blockchain, better confirmation times etc. But its price is pathetic and that is the problem Litecoin is still disregarded as insignificant coin in the long run because of low price compared to BTC.

[Erdogan]

If you think price is not one of the most significant qualities of a coin you are either being naive or stupid. Look at other altcoin - some of them have even better features, Litecoin with robust blockchain, better confirmation times etc. But its price is pathetic and that is the problem Litecoin is still disregarded as insignificant coin in the long run because of low price compared to BTC.

Three things: Liquidity, liquidity and liquidity.