NorrisK
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January 31, 2016, 05:43:32 PM |
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If no new money enters the market, that means there are no buy orders on exchanges and price would not move anymore. Basically halting the market. Or day traders would move the price down whole absorbing the excesss of mined coins.
Luckily, there will always be new cash flowing into the market. Even around me I'm hearing more and more people bought some bitcoin or altcoin. The adoptation is just a matter of time.
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n2004al
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January 31, 2016, 07:54:47 PM |
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Large userbase means nothing to the price. 95% of the people are small fishes that contribute next to nothing to the price. We need investors with deep pocket, even if they are the far minority, these people can move mountains. 1-2% is ruling the price with iron fist, and the other 3-5% are whales that can manipulate a certain exchange well enough to make millions in profit every year. And the other 95% are clowns.
I totally disagree with this kind of reasoning. That 95% that for you are nothing, according to me, can move the mountains and have the power to lead the price of bitcoin at the highest possible levels or at the levels when the only person who mined bitcoin was Satoshi himself. Lets do a simple example. Let's tell that the people of bitcoin in all the world are about 5 million (I think are much more but that remain in these levels in order to be fully credible). 95% of these 5 million are 4.75 million. Let suppose that in average all these people are only 2 bitcoin. That mean that all that people own 9.5 million bitcoin. The overall amount of bitcoin in circulation actually are about 15 million. So almost 2/3 of all the bitcoins are in the hands of these "without any kind of importance for the market" people. It is enough that be created a panic from something or from an bad event and not all but half of those sell their 2 bitcoins and the price of bitcoin will go at the Satoshi's days. The same if, for one whatever good reason told openly and publicly, they decide to buy one or two other bitcoins. The price will go more than at the times of MtGox. To not tell that the above data are the minimum possible which can be taken in consideration.
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Erkallys (OP)
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January 31, 2016, 08:44:26 PM |
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Large userbase means nothing to the price. 95% of the people are small fishes that contribute next to nothing to the price. We need investors with deep pocket, even if they are the far minority, these people can move mountains. 1-2% is ruling the price with iron fist, and the other 3-5% are whales that can manipulate a certain exchange well enough to make millions in profit every year. And the other 95% are clowns.
I totally disagree with this kind of reasoning. That 95% that for you are nothing, according to me, can move the mountains and have the power to lead the price of bitcoin at the highest possible levels or at the levels when the only person who mined bitcoin was Satoshi himself. Lets do a simple example. Let's tell that the people of bitcoin in all the world are about 5 million (I think are much more but that remain in these levels in order to be fully credible). 95% of these 5 million are 4.75 million. Let suppose that in average all these people are only 2 bitcoin. That mean that all that people own 9.5 million bitcoin. The overall amount of bitcoin in circulation actually are about 15 million. So almost 2/3 of all the bitcoins are in the hands of these "without any kind of importance for the market" people. It is enough that be created a panic from something or from an bad event and not all but half of those sell their 2 bitcoins and the price of bitcoin will go at the Satoshi's days. The same if, for one whatever good reason told openly and publicly, they decide to buy one or two other bitcoins. The price will go more than at the times of MtGox. To not tell that the above data are the minimum possible which can be taken in consideration. You're right and wrong at the same time. I agree with you that this minority of "small fishes" can move mountains. However, I don't think that there's 5 million people in the Bitcoin scene. I'd rather say 1 to 2 millions. Also, the little players have more around 0,4 BTC than 2 BTC.
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Zitdadast
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March 10, 2016, 12:14:47 PM |
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If the user base remain the same and no new money comes to bitcoin, the price will drop as there is new supply of bitcoin every day.
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alyssa85
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March 15, 2016, 12:38:03 AM |
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Bitcoin is still in it's inflationary phase - 25 new coins are created every ten minutes. So it needs new users just to stand still. In a way the momentum has sadly stopped and not much press interest is generated for the coin any more apart from talking about splits etc. It's a pity. With the world economy in a precarious state, BTc should be well placed as an alternative, but because of mistakes, it isn't.
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mrhelpful
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March 15, 2016, 03:51:18 AM |
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If no new money enters the market, that means there are no buy orders on exchanges and price would not move anymore. Basically halting the market. Or day traders would move the price down whole absorbing the excesss of mined coins.
Luckily, there will always be new cash flowing into the market. Even around me I'm hearing more and more people bought some bitcoin or altcoin. The adoptation is just a matter of time.
What you mentioned is overlooked on a daily basis. But also buy orders can be manipulated at any point of given time for an exchange to off-set their risk of their "other money" to pay back others. All they have to do is create buy orders.
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n0ne
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March 16, 2016, 11:04:16 AM |
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A small variation in the price might be felt due to the low usage. Only when users increase the usage of bitcoin will also increase which leads to the increased circulation of bitcoin which is required for the increase of price.
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RealPhotoshoper
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March 16, 2016, 05:42:06 PM |
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A price increase is predicted by most of the users, including me. With such an event, this is possible that the price rise. However, in common times, with no special events, can it rise too ? I was wondering if the userbase stay the same until the enext halving, could it be possible that the price rise ? Maybe some of you have the answer ?
how can you think that price increase is predicted by most of the users?i'm sure bitcoin price is played by some people,some exchange,or boss,as we know bitcoin price have different in almost all exchange,almost all countries have price standard,and this is hard to believe.
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Kingno.1
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March 18, 2016, 02:17:26 PM |
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I think that increased use of bitcoin will not increase the price of an individual bitcoin. And in my view even if the userbase stays same , then also the price of bitcoin might increase.
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botany
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March 19, 2016, 10:09:29 AM |
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If the user base remain the same and no new money comes to bitcoin, the price will drop as there is new supply of bitcoin every day.
User base refers to users adopting bitcoin, not new money coming in. Even if an existing user decides to dump a truckload of money in Bitcoin, the price will increase. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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ObscureBean
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March 19, 2016, 10:46:19 AM |
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The price can increase while the user base stays the same but that is definitely not what we want. It would be an artificial raise that does absolutely nothing for Bitcoin itself. Sure some people will likely make some money but for Bitcoin itself it will mean stagnation. User base is everything, without enough people using Bitcoin, it wouldn't matter that 1 BTC is worth $10,000. It'll be like an exclusive club that the masses view from the outside and that don't really mean anything to them. And if the user base doesn't increase then it will do the opposite and decrease over time until it dies out. I don't think Bitcoin user base will stay the same though, it's growing day by day ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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n0ne
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March 19, 2016, 05:06:35 PM |
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Increase in users will increase the usage of bitcoin. Bitcoin with low user base needs high circulation of bitcoin to have a high price which is easily achieved if it has got large number of users.
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Zitdadast
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April 01, 2016, 05:04:22 PM |
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Increase in users will increase the usage of uᴉoɔʇᴉq. uᴉoɔʇᴉq with low user base needs high circulation of uᴉoɔʇᴉq to have a high price which is easily achieved if it has got large number of users.
The bitcoin price depends on the network effect. The price is proportional to the square of number of people using it.
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