Is the price of bitcoin important?

[pooya87]

in my opinion how much the price is, is less important than how the price changes. i mean it doesn't matter a lot if the price is $200 or $2000 what is important is that how the price reaches for example $2000

if it rises to 2K in a couple of months and because of just hype and pump it would be worthless but if it reaches 2K because of adoption and real user base increase then that is the goal and the dream.

but this will only happen over time, we can't expect it to be 100% like this today. it would take some more time and attention to reach this level.

[wintermeasures]

I've noticed that there are many people who approach bitcoin as though it were some form of "get rich quick" scheme.  But, in reality, the true value of bitcoin is transmitted through its utility.  As long as an equal day's wage is exchanged for an equal day's productivity, the system will be sustainable.  Yes, early adopters were blessed with the fortunate opportunity to be "in the right place at the right time" but that was only because they were the first to recognize and understand bitcoin's utility and that "blessing" was just a side effect of the larger picture.   

If bitcoin's monetary value increased without bound, then the experiment will fail.  Only when bitcoin can be exchanged with equity (labour hour for labour hour, productivity for productivity) can it be considered a success.  If bitcoin is held as an investment, and bitcoin's price continued to increase at the expense of late adopters, then wealth will centralize as opposed to distribute....

So, when we're pondering the direction we should be guiding bitcoin, should we approach it as an investment opportunity or as a vehicle that opens up freer and fairer access to the global economy and the world's resources?  Is bitcoin a "get rich quick with very little effort" opportunity or is it an opportunity to bring about social and political change by taking back control of our personal productivity?  These are questions we should be asking ourselves....

Thoughts?  Does the price of bitcoin really matter, or is bitcoin's utility where value is realized?

I think the price of bitcoin is a major part of the bitcoin itself. Due to the low price that peoples will not be interested investing in bitcoin. thank you

[dearbesz]

basically the price of Bitcoins is also important to monitor,..
like everybody who like Bitcoins once the price value hike many of us will trade of course,..
but we want a stable price too,

[xht]

Actually the price of bitcoin is so important even the price has stay on the higher level it will still important to anyone know how far bitcoin has grow.

[Mvaporis1961]

It's always important to us because from that price we can make profit. Especially to those who trading bitcoins into fiat vice versa.

[Pursuer]

when you say "is the price important" many things come to mind regarding this. but I think the most important thing about the bitcoin price is how it changes.
if the price change is slow, close to a stable price then that is the most desirable scenario for bitcoin price. and being most volatile, with big swings every day is the least desirable.

but in my opinion it is not important what the price is for example if it is $100 or $10,000 because it would still be bitcoin and will still be offering all its features, although low prices may cause some problems with mining and profitability.

[Dakron]

For the bitcoin holder yes the price always important specially in traders because the profit of them will base on the price of bitcoin but for the gamblers and rich person it is not quite important to them

[pedrog]

Well, it is important for me otherwise I wouldn't be wasting my time with this...

[Cozynunu]

in my opinion how much the price is, is less important than how the price changes. i mean it doesn't matter a lot if the price is $200 or $2000 what is important is that how the price reaches for example $2000

if it rises to 2K in a couple of months and because of just hype and pump it would be worthless but if it reaches 2K because of adoption and real user base increase then that is the goal and the dream.

but this will only happen over time, we can't expect it to be 100% like this today. it would take some more time and attention to reach this level.

The price of Bitcoin is really important and that is because you have to know that there are more people that is using it and you can earn some profit with it so that is nice.
But of course it is hard to know what the value will be in Bitcoin and that is the risky thing.

[ObscureBean]

There is just too much risk involved with Bitcoin (in its current form) for it to be viewed as anything other than an investment. It needs to be regulated and backed by a trustworthy entity like the government (I know) before the masses will consider using it as a regular currency. If the Dollar drops in value overnight, you don't really feel it because you can still buy bread with the same amount of money in the morning but if Bitcoin drops overnight, you're screwed. If something goes wrong with the Dollar, people know who to turn to, who to blame. Nobody is really accountable if something goes wrong with Bitcoin and that's kind of scary if you're not rich and your family depends on the money you bring home.
I think that if right now Bitcoin value were to stabilize permanently, we would see a huge portion of the Bitcoin crowd suddenly lose interest and move on. Bitcoin would still probably continue to evolve but it'll be at a much much slower pace.

[bitcoineverything]

I've noticed that there are many people who approach bitcoin as though it were some form of "get rich quick" scheme.  But, in reality, the true value of bitcoin is transmitted through its utility.  As long as an equal day's wage is exchanged for an equal day's productivity, the system will be sustainable.  Yes, early adopters were blessed with the fortunate opportunity to be "in the right place at the right time" but that was only because they were the first to recognize and understand bitcoin's utility and that "blessing" was just a side effect of the larger picture.   

If bitcoin's monetary value increased without bound, then the experiment will fail.  Only when bitcoin can be exchanged with equity (labour hour for labour hour, productivity for productivity) can it be considered a success.  If bitcoin is held as an investment, and bitcoin's price continued to increase at the expense of late adopters, then wealth will centralize as opposed to distribute....

So, when we're pondering the direction we should be guiding bitcoin, should we approach it as an investment opportunity or as a vehicle that opens up freer and fairer access to the global economy and the world's resources?  Is bitcoin a "get rich quick with very little effort" opportunity or is it an opportunity to bring about social and political change by taking back control of our personal productivity?  These are questions we should be asking ourselves....

Thoughts?  Does the price of bitcoin really matter, or is bitcoin's utility where value is realized?

For me, it is both. Price also plays an important role aside from utility. It drives more awareness and people to accept and use bitcoin. If utility alone, there will be limited people to embrace the digital currency😄

[avikz]

If not the price then what else?? The majority of the bitcoin users don't know what is blockchain and how it works.

All they are concerned about the price. The price is the only factor which makes bitcoin attractive to the mass. If it drops to $1, then so called bitcoin lovers will also start mining altcoins and leave bitcoin to die in misery.

For me the price is the only and the most important factor.

[yhansky]

Definitely yes,some traders are using the price of bitcoin to have profit..
When the price of bitcoin goes up the  thats the right time to sell,but it goes down  buy btc and wait for a month  before selling it again.

[shinratensei_]

people use bitcoin because it'd have value/price just imagine if bitcoin prices is 0$,not sure those people whose still posting here will gaining bitcoin
this question is like "is the price of dollar to another currency is really important" which is doesn't even make a sense

[harizen]

Definitely yes,some traders are using the price of bitcoin to have profit..
When the price of bitcoin goes up the  thats the right time to sell,but it goes down  buy btc and wait for a month  before selling it again.

In the first place traders do trades to make profits that's why they care for the price lol. So price does matter for them.

Also there's no such thing as exact date or time when a trades will do such buy and selling move. It's all about the "price" and the "trend".

[BossMacko]

Price of Bitcoin is indeed important because people use it because of its value now. Some traders who use bitcoin use its price as an advantage to get more money from it. Some also use bitcoin to trade for other alt-coin which will give them big amount of alt coin to hold  and sell in the future.

[Patatas]

I agree with you.People literally look at Bitcoin as a sort of investment or the "Get Rich Quick" scheme as you have put it.I Think 70% of the Crypto holders have only one intention behind it,keep holding.The remaining 30% includes the actual users who bring justice to the innovation.You can't really blame the small players here.Even coinbase or big shots like Mike Hern has no intentions of promoting as a currency of the future but the valuable asset of the  digital world.

Probably it will make more sense to me if the value of bitcoin is not calculated on basis of fiat currencies.That would bring use to next big problem which is buying bitcoins.As long as we're privileged to buy bitcoins with fiat,there is no way we change the procedure.

[serjent05]

Bitcoin at this stage, i think price matters, it attracts investors, innovators and developers.  Just think of this thing, will you lay your interest in a 0 value thing? Of course no.  People have this  "oh shiny" syndrome.  And of course lots are attracted to "get rich quick scheme". 

The higher the value of Bitcoin, the more it catches attention.  Those people who see Bitcoin as their vessel to wealth will then be the Bitcoin  community /supporter  and will start to develop  stuff so they can utilize bitcoin for daily use and of course generates profit . Just a domino effect i guess.  But all in all Price do matter.   ..Will you choose Copper over Gold?

[Superbitzz]

yes ofcourse the price of bitcoin is too much important the bitcoin is improving because of its rate. as the rate of bitcoin is increasing the interest of the people is also increasing.

[GreenBits]

It's a currency. The price is the only thing that matters, to be honest. If bitcoin tanked, I would drop it like a hot potato. There is always a bleeding edge thing with promise to invest in, if you are shrewd.