Nasdaq: Does the Price of Bitcoin Matter?

[LakeBTC]

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 aMany hold out hope that over time Bitcoin will perform as it should in theory and become a store of value, while others simply cannot bear the thought of losing purchasing power in the short term.

Even if their motivation for buying crypto-currency in the first place was convenience or just curiosity they can’t stop themselves looking at it as an investment. Whatever the reason, if you see Bitcoin purely as a currency, price matters.

[...]

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

[NattyLiteCoin]

Price doesn't matter. I think it's safe to say Bitcoin is in the building, let's see what it do.

[Kprawn]

Price matter to day traders and short term investors / speculators.  This account for a big percentage of the Bitcoin users, BUT there are also the Die Hard Bitcoiners, who collect and hoard every little Satoshi they can get there hands on. This group is growing bigger by the day.

Most people start out and only use Bitcoin for it's currency value, but as time goes on, and they gather more knowledge, they see the real potential of the blockchain technology, and they start to hoard even more. They stop watching the price daily, because they not in the market to sell for short term profits.

It's as simple as that... 

[louise123]

Price does matter.
Anyone who says otherwise either just doesn't know what they are talking about or are just lying.

Why?
Well, there can only be 21M Bitcoins.
With the price we have now, there is NO CHANCE it will EVER go mainstream.
Because it might be divisible but that means jack shit if the price is this low.
People will prefer fiat over this.

[Amph]

there is a an exact same thread as this in economic section, do we really need two? https://bitcointalk.org/index.php?topic=1059587.msg11365564#msg11365564

[numismatist]

Price does matter.
Anyone who says otherwise either just doesn't know what they are talking about or are just lying.

Why?
Well, there can only be 21M Bitcoins.
With the price we have now, there is NO CHANCE it will EVER go mainstream.
Because it might be divisible but that means jack shit if the price is this low.
People will prefer fiat over this.

Economy size has an impact, and indeed, since there is a limited amount the only factor for adapting Bitcoin's trade volume is notation value at the moment.

An escape path would be deciding upon expanding these 21M by let's suggest 1% in the years 2017, 2019, 2021 and so on. Totally doable, like changing block time or size. Nothing is chipped in stone. This is software.

The alternative would be some new prospering Altcoin to take over, when Bitcoin fails on delivering what it needs to stay Nr.1 coin this might one day just happen. Not really understandable for die-hard brickheads. But these seldom make it to the prospering frontier, more like staying behind, naturally.

[shulio]

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 aMany hold out hope that over time Bitcoin will perform as it should in theory and become a store of value, while others simply cannot bear the thought of losing purchasing power in the short term.

Even if their motivation for buying crypto-currency in the first place was convenience or just curiosity they can’t stop themselves looking at it as an investment. Whatever the reason, if you see Bitcoin purely as a currency, price matters.

[...]

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

Since I am a trader. I will say that the price does not matter. What matter the most for trader is the difference between buy and sell. The margin of buy and sell is where trader gain profit. Even if btc is sitting at 5-10 $ per btc.  It would not be a problem as long as there is a margin for trader to gain some profit. But as a currency, then price matters

[Agestorzrxx]

Sure, the price is a matter, when bitcoin keep rising, it can attract more people joining in.

[dothebeats]

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...

Sadly, most bitcoiners aren't truly devoted on the innovations and the concept of the coin itself. Well, many bitcoiners can say that they support the concept of low fees, fast transaction, etc. but a few could actually ignore the price because they saw that bitcoin is a great "speculative asset" which isn't its role when it was created. Many people jumping on board care about the profits, not for the actual technology and innovation it bring.

At the other end of the spectrum, for those that harbor what appears to be an irrational hatred of Bitcoin and aMany hold out hope that over time Bitcoin will perform as it should in theory and become a store of value, while others simply cannot bear the thought of losing purchasing power in the short term...

That's why most of the traders short it for easy $$$.

[Phat Buzz Tart]

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 aMany hold out hope that over time Bitcoin will perform as it should in theory and become a store of value, while others simply cannot bear the thought of losing purchasing power in the short term.

Even if their motivation for buying crypto-currency in the first place was convenience or just curiosity they can’t stop themselves looking at it as an investment. Whatever the reason, if you see Bitcoin purely as a currency, price matters.

[...]

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

Since I am a trader. I will say that the price does not matter. What matter the most for trader is the difference between buy and sell. The margin of buy and sell is where trader gain profit. Even if btc is sitting at 5-10 $ per btc.  It would not be a problem as long as there is a margin for trader to gain some profit. But as a currency, then price matters

OK, let's say you bought your coins @ $250 yesterday and you started trading today, but the price now is ranging between $210-$216.
Do you consider that making profit?
How many successful trades do you have to make in order to get the lost money and how many more to actually make profit?

[LFC_Bitcoin]

I'm a long term HODLER but the price matters to me.
Even if I never cash in & sell my stash for fiat the price still matters.
If bitcoin explodes into mainstream adoption the price still matters, 21 million coins will be in existence so obviously the higher the price of bitcoin the wealthier we are.
The price always matters. 

[shulio]

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 aMany hold out hope that over time Bitcoin will perform as it should in theory and become a store of value, while others simply cannot bear the thought of losing purchasing power in the short term.

Even if their motivation for buying crypto-currency in the first place was convenience or just curiosity they can’t stop themselves looking at it as an investment. Whatever the reason, if you see Bitcoin purely as a currency, price matters.

[...]

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

Since I am a trader. I will say that the price does not matter. What matter the most for trader is the difference between buy and sell. The margin of buy and sell is where trader gain profit. Even if btc is sitting at 5-10 $ per btc.  It would not be a problem as long as there is a margin for trader to gain some profit. But as a currency, then price matters

OK, let's say you bought your coins @ $250 yesterday and you started trading today, but the price now is ranging between $210-$216.
Do you consider that making profit?
How many successful trades do you have to make in order to get the lost money and how many more to actually make profit?

You should note that I am day trading. Which means I sell when it goes up even by the value of 1-2 $ and cut my loss at the same value it goes down as well. Keeping bitcoin and hope it increase the value by alot like over 20 $ is not consider as day trading but it is just like investment, keep and sell when price is 2x fold or something like that

[Studio60]

I think price matters, but I think stability is more important.

I mean if Bitcoin really was a get rich quick scheme then everybody would want it to shoot over $1,000 like it did before, then come crashing back down under $300. Then shoot back over $1,000 and the next few days come crashing back down. Well if it did that a lot of people would make money, but a lot would lose money too. In other words it would be great for traders and terrible for merchants.

I think it's better to have a large base of people actually transacting with the currency than just trying to get rich from it.

[shulio]

I think price matters, but I think stability is more important.

I mean if Bitcoin really was a get rich quick scheme then everybody would want it to shoot over $1,000 like it did before, then come crashing back down under $300. Then shoot back over $1,000 and the next few days come crashing back down. Well if it did that a lot of people would make money, but a lot would lose money too. In other words it would be great for traders and terrible for merchants.

I think it's better to have a large base of people actually transacting with the currency than just trying to get rich from it.

This is not a quick rich scheme but like a pyramid scheme. If someone buy at $300 and sell at $1000, that means that only some people are profitting from it because there are people who will buy at $1000. Stability cant be achieved because each day, exactly each 10 minutes there will be a new block containing 25 btc, that means if they supply is keep on going up, the price will be lower. Stability will be achieve only if the total btc is in the circulation

[gentlemand]

Stability will be achieve only if the total btc is in the circulation

That will be when the deflationary effects truly kick in. If it really has spread a long way around the globe then demand and usage will continue to rise and there's no fresh supply to meet it. That's not going to make the price very stable.

[bornil267645]

I am not a fan bitcoin market price. I have always believed that as long as the market price remains steady people and companies will start to believe in Bitcoin and more and more investments will pop up. So the price high or low doesn't matter as long as it has some significant steadiness.

[Studio60]

... Stability cant be achieved because each day, exactly each 10 minutes there will be a new block containing 25 btc, that means if they supply is keep on going up, the price will be lower. Stability will be achieve only if the total btc is in the circulation

I disagree. If you notice the price has been about $220-250 for several days, maybe even weeks. All that time, just like you say every 10 minutes there is a new block with 25 BTC. However, the price remains fairly stable day to day, similar to the gold market which is a lot bigger and a lot older. Bitcoin's price is stabilizing because the total size of market is getting larger.

[shulio]

... Stability cant be achieved because each day, exactly each 10 minutes there will be a new block containing 25 btc, that means if they supply is keep on going up, the price will be lower. Stability will be achieve only if the total btc is in the circulation

I disagree. If you notice the price has been about $220-250 for several days, maybe even weeks. All that time, just like you say every 10 minutes there is a new block with 25 BTC. However, the price remains fairly stable day to day, similar to the gold market which is a lot bigger and a lot older. Bitcoin's price is stabilizing because the total size of market is getting larger.

Not stable I would say, I am a trader which spend 12 hours + just to stay on my laptop to trade which used the margin of buy sell and also the volatility of the price. I look up chart and all I can see is the price is lowering gradually. Since you are not a trader you wont even notice this unless the price fall like $10 of course

[Studio60]

Not stable I would say, I am a trader which spend 12 hours + just to stay on my laptop to trade which used the margin of buy sell and also the volatility of the price. I look up chart and all I can see is the price is lowering gradually. Since you are not a trader you wont even notice this unless the price fall like $10 of course

Yeah, I know what you mean. In a way that's what I'm saying, though. I'm not a trader and only check the price every once in awhile. I think that's how casual Bitcoin users think about it, so to us the price doesn't move much, meaning it's relatively stable. I think that makes people feel more comfortable holding onto it. The daily traders of course notice every little move!

[MicroGuy]

Price stability is important. When people are trying to buy online drugs, they need to know how much BTC to buy in order to make their purchases.

The regulatory authorities have already driven a stake in any chances bitcoin had at competing with traditional fiat. Our biggest fan base now is hackers seeking ransoms, hipsters buying drugs online, and people laundering funds from stolen credit card data.

Of course there are a few hard core adopters using bitcoin for legitimate reasons, but they are on the fringes.