Let's Control the Future Value of Bitcoin

[FlipBit]

The recent economic events that have impacted the trade value of bitcoin are irrelevant. Brexit? New president? Halving? None of these events actually matter in determining the value of bitcoin since they are just headlines. The market cap of Bitcoin is only about $10 billion USD. That is as much money as a mid-level U.S. finance, insurance, or real estate company manages. In other words, bitcoin is not even on the financial map, which is actually a good thing!

Bitcoin needs a catalyst. That catalyst is you and me. So, we need to do two things:

1. Spend bitcoin: Holding bitcoin is an awesome passive investment strategy, especially for those who purchased sub $250. However, taking an active approach will help stabilize at $1000, which is honestly what everyone is looking forward to. If early adopters hold the majority of bitcoin then no one else can use it whether they want to or not. This means it would not be of value in the long term since there is no established barometer of what it could potentially be worth in exchange of consumer good and services. This leads us to the next point of getting late adopters to understand why and how to use bitcoin as a method of payment.

2. Educate others about bitcoin: When I explain bitcoin to friends and family I refer to it as "internet money". They ask, "Like Paypal?" and I say, "Very similar, but more like buying early shares of Apple or IBM because it appreciates at a higher rate than the dollar." This has been a useful conversation starter and influenced a few colleagues enough to at least open up a Coinbase account.

There is no need for more (or less) regulation as the status quo of decentralized currency is now a proven concept.

[bitbunnny]

You have proposed the interesting strategy here. But still, is there really the way that we could control the value of Bitcoin? But I fully agree that the worst thing for Bitcoin is to sit idle.

[helloeverybody]

To raise the price everyone would theoretically just need to hold their coins but unfortunately the chances of doing that are slim.  The only way we can raise price is by buying and holding plus new investors.

[yayayo]

Bitcoin needs a catalyst. That catalyst is you and me. So, we need to do two things:

I don't think there's an urgency to do anything to artificially raise the fiat valuation of Bitcoin. The things you are suggesting are already happening the natural way. There's no need to speed up the process by aggressively marketing Bitcoin to the general population.

In fact I think that too fast growth could have bad consequences, since the network and extended ecosystem may not be ready to cope with it. It's bad to induce exaggerated expectations that might fail in face of reality.

I also have very strong objections against your "education" approach, since it solely focuses on speculative value appreciation and recommends using a service (Coinbase) that betrays the core principles of Bitcoin: Full private ownership of free decentralized and sound money. Bitcoin was never meant to be Paypal 2.0. We don't need that kind of people here.

ya.ya.yo!

[brigadier2001]

Its a good thing to do promoting bitcoin to make it worth more in the future but controling its value its not that easy because if everyone new that bitcoin will worth more in the future all of whom uses bitcoin will buy and keep it for the future so it will rise for a moment very fast but there will be no more spending and that may decrease their value

[FlipBit]

Bitcoin needs a catalyst. That catalyst is you and me. So, we need to do two things:

I don't think there's an urgency to do anything to artificially raise the fiat valuation of Bitcoin. The things you are suggesting are already happening the natural way. There's no need to speed up the process by aggressively marketing Bitcoin to the general population.

In fact I think that too fast growth could have bad consequences, since the network and extended ecosystem may not be ready to cope with it. It's bad to induce exaggerated expectations that might fail in face of reality.

I also have very strong objections against your "education" approach, since it solely focuses on speculative value appreciation and recommends using a service (Coinbase) that betrays the core principles of Bitcoin: Full private ownership of free decentralized and sound money. Bitcoin was never meant to be Paypal 2.0. We don't need that kind of people here.

ya.ya.yo!

The suggestions in the original post are natural progressions for the ecosystem. There are early adopters that can afford to spend btc within reason, but strictly hold. That strategy is great for personal gain but does not allow the ecosystem to expand and stagnates the fiat valuation.

The mention of Coinbase is just an example. I completely understand and support "full private ownership" of decentralized currency. Another example of spreading the word comes from a colleague that helps others set up their wallet for free. He will send them $1 in good faith and only asks that they send the $1 back when they feel comfortable with the returns. Most people send the $1 back when their btc reaches about $1.40.

This forum is for early adopters and those in the know of cryptocurrency. But from the outside looking in, $10 billion is a very small market that could benefit from the btc user base expanding. For example, Airbnb was worth $10B as of 2/2015 (http://www.businessinsider.com/startups-valued-at-more-than-10-billion-2015-2). Today, Airbnb is valued at $25.5B (https://www.cbinsights.com/research-unicorn-companies). Airbnb's rapid expansion was thanks to a growth rate of 353 times what it was 5 years prior (http://www.businessinsider.com/airbnbs-summer-reach-has-grown-by-353-times-in-5-years-2015-9). If more people were educated and investing in btc, we could see similar growth.

[CraigWrightBTC]

Mostly of bitcoin users are traders It will be difficulty for hold bitcoin until price going up to $1000, usualy if price is increase they sell bitcoin for take profit and if price going down they sell bitcoin too. And mostly of stores in the world still not yet use bitcoin as payment method. Price of bitcoin is like sea we can not control it but we can control our ship.

[rphk]

I agree with this , holding is good thing ,but transactions are very important we need to to more transactions like buying and selling ,as demand increase it will help increasing the bitcoin price.
And Educating the people also an important thing , more the bitcoin users more will be the transaction and it helps to increasing bitcoin price    

[Jastetad]

I agree with this , holding is good thing ,but transactions are very important we need to to more transactions like buying and selling ,as demand increase it will help increasing the bitcoin price.
And Educating the people also an important thing , more the bitcoin users more will be the transaction and it helps to increasing bitcoin price    

I hold most of my bitcoins, that will reduce the selling pressure. But I also use my bitcoin to buy things, that will increase the circulation. Both will increase the value.

[Divinespark]

I do my bit by taking a 90-10 approach. 90% of my holdings are in paper wallets held for 5 to 10 years. The remaining 10% is spent buying stuff online and circulating BTC through the economy.

[romero121]

To raise the price everyone would theoretically just need to hold their coins but unfortunately the chances of doing that are slim.  The only way we can raise price is by buying and holding plus new investors.

Holding is good. But it needs to be done in accordance to the price movement of bitcoin. Also its very important to spend some amount of bitcoin directly which is much needed for price flow. More the circulation of bitcoin more will be the flow which helps in price variation.

[Jastetad]

To raise the price everyone would theoretically just need to hold their coins but unfortunately the chances of doing that are slim.  The only way we can raise price is by buying and holding plus new investors.

Holding is good. But it needs to be done in accordance to the price movement of bitcoin. Also its very important to spend some amount of bitcoin directly which is much needed for price flow. More the circulation of bitcoin more will be the flow which helps in price variation.
[/quote

I spend some bitcoin every few months when I need to upgrade my computers. I help the circulation of bitcoin.

[RealBitcoin]

Spending bitcoin does not increase it's value. It actually decreases it.

[danda]

Segwit may provide a bump, but the next wave of serious bitcoin expansion will probably take place once Lightning Network is in place and well supported by most toolchains and wallets.   At that point, scalability concerns should mostly go away and high volume businesses/industries can begin onboarding.   Until then.... hodl.

[groll]

The recent economic events that have impacted the trade value of bitcoin are irrelevant. Brexit? New president? Halving? None of these events actually matter in determining the value of bitcoin since they are just headlines. The market cap of Bitcoin is only about $10 billion USD. That is as much money as a mid-level U.S. finance, insurance, or real estate company manages. In other words, bitcoin is not even on the financial map, which is actually a good thing!

Bitcoin needs a catalyst. That catalyst is you and me. So, we need to do two things:

1. Spend bitcoin: Holding bitcoin is an awesome passive investment strategy, especially for those who purchased sub $250. However, taking an active approach will help stabilize at $1000, which is honestly what everyone is looking forward to. If early adopters hold the majority of bitcoin then no one else can use it whether they want to or not. This means it would not be of value in the long term since there is no established barometer of what it could potentially be worth in exchange of consumer good and services. This leads us to the next point of getting late adopters to understand why and how to use bitcoin as a method of payment.

2. Educate others about bitcoin: When I explain bitcoin to friends and family I refer to it as "internet money". They ask, "Like Paypal?" and I say, "Very similar, but more like buying early shares of Apple or IBM because it appreciates at a higher rate than the dollar." This has been a useful conversation starter and influenced a few colleagues enough to at least open up a Coinbase account.

There is no need for more (or less) regulation as the status quo of decentralized currency is now a proven concept.

Your opinion is agreeable. If we dont use bitcoins and will not promote it there will be less bitcoin users in the world. As of your posted subject it is very relevant that an increase in demands and bitcoin users could lead to a major increase in bitcoins price. Imagine of all the people in the world are using bitcoin right now as a currency the price will rose up to 1 bitcoin is 100,000,000 $ and I will be reach if I hoard my bitcoins.

[clickerz]

Your opinion is agreeable. If we dont use bitcoins and will not promote it there will be less bitcoin users in the world. As of your posted subject it is very relevant that an increase in demands and bitcoin users could lead to a major increase in bitcoins price. Imagine of all the people in the world are using bitcoin right now as a currency the price will rose up to 1 bitcoin is 100,000,000 $ and I will be reach if I hoard my bitcoins.

Indeed, as there are more people or more users of bitcoin, Demand for bitcoin also increases. In this case, it is safe to presume that the bitcoin price will also increase. Like you, I'm hoping that the price will increase but to 1 million? thats Fantastic Its like we Won on Grand lotto:)

[Xester]

The recent economic events that have impacted the trade value of bitcoin are irrelevant. Brexit? New president? Halving? None of these events actually matter in determining the value of bitcoin since they are just headlines. The market cap of Bitcoin is only about $10 billion USD. That is as much money as a mid-level U.S. finance, insurance, or real estate company manages. In other words, bitcoin is not even on the financial map, which is actually a good thing!

Bitcoin needs a catalyst. That catalyst is you and me. So, we need to do two things:

1. Spend bitcoin: Holding bitcoin is an awesome passive investment strategy, especially for those who purchased sub $250. However, taking an active approach will help stabilize at $1000, which is honestly what everyone is looking forward to. If early adopters hold the majority of bitcoin then no one else can use it whether they want to or not. This means it would not be of value in the long term since there is no established barometer of what it could potentially be worth in exchange of consumer good and services. This leads us to the next point of getting late adopters to understand why and how to use bitcoin as a method of payment.

2. Educate others about bitcoin: When I explain bitcoin to friends and family I refer to it as "internet money". They ask, "Like Paypal?" and I say, "Very similar, but more like buying early shares of Apple or IBM because it appreciates at a higher rate than the dollar." This has been a useful conversation starter and influenced a few colleagues enough to at least open up a Coinbase account.

There is no need for more (or less) regulation as the status quo of decentralized currency is now a proven concept.

When we spend bitcoins, the more we make it active the more it will affect the price increase. The more bitcoin users around the globe the more demands will lead to an increase in price of bitcoin. And so your points are substantial facts that may give us the power to control the future value of bitcoin. With these two options there is more income coming for bitcoin consumers.

[Sharma]

I don't understand why anyone would want to control the future value of bitcoin. There is no point to. If you look at your finances in terms of bitcoin, it is always stable in value.

Fiat is by definition volatile and inflationary, which is why I don't account for my finances in fiat.

[FlipBit]

I do my bit by taking a 90-10 approach. 90% of my holdings are in paper wallets held for 5 to 10 years. The remaining 10% is spent buying stuff online and circulating BTC through the economy.

This is the approach that more should take. How has this 90/10 strategy performed so far?

The recent economic events that have impacted the trade value of bitcoin are irrelevant. Brexit? New president? Halving? None of these events actually matter in determining the value of bitcoin since they are just headlines. The market cap of Bitcoin is only about $10 billion USD. That is as much money as a mid-level U.S. finance, insurance, or real estate company manages. In other words, bitcoin is not even on the financial map, which is actually a good thing!

Bitcoin needs a catalyst. That catalyst is you and me. So, we need to do two things:

1. Spend bitcoin: Holding bitcoin is an awesome passive investment strategy, especially for those who purchased sub $250. However, taking an active approach will help stabilize at $1000, which is honestly what everyone is looking forward to. If early adopters hold the majority of bitcoin then no one else can use it whether they want to or not. This means it would not be of value in the long term since there is no established barometer of what it could potentially be worth in exchange of consumer good and services. This leads us to the next point of getting late adopters to understand why and how to use bitcoin as a method of payment.

2. Educate others about bitcoin: When I explain bitcoin to friends and family I refer to it as "internet money". They ask, "Like Paypal?" and I say, "Very similar, but more like buying early shares of Apple or IBM because it appreciates at a higher rate than the dollar." This has been a useful conversation starter and influenced a few colleagues enough to at least open up a Coinbase account.

There is no need for more (or less) regulation as the status quo of decentralized currency is now a proven concept.

When we spend bitcoins, the more we make it active the more it will affect the price increase. The more bitcoin users around the globe the more demands will lead to an increase in price of bitcoin. And so your points are substantial facts that may give us the power to control the future value of bitcoin. With these two options there is more income coming for bitcoin consumers.

Exactly! Currently, bitcoin is heavily tied to the values of fiat currency when it should be influenced more by the intrinsic values of consumer goods and services like gold originally was. The easiest way to do this is to spend more btc and have more merchants accept btc.

[Jastetad]

I don't understand why anyone would want to control the future value of bitcoin. There is no point to. If you look at your finances in terms of bitcoin, it is always stable in value.

Fiat is by definition volatile and inflationary, which is why I don't account for my finances in fiat.

I think they just want the bitcoin price to rise slowly, not so volatile so that more people will use it as a currency.