FlipBit (OP)
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July 26, 2016, 11:04:06 PM |
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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. Showing steady price increases to those who may be interested in using bitcoin help validate its purpose and legitimacy. |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Doamader
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July 27, 2016, 12:00:46 AM |
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We cant control bitcoin, and isnt that the purpose of no one has plenty control of it, the miners just able to pump and dump bitcoin with their porfolio, but we can recover the value over the time. Something bitcoin doesnt need is being controled, decentralized is the best way to bitcoin.
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Xester
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July 27, 2016, 04:06:52 AM |
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We cant control bitcoin, and isnt that the purpose of no one has plenty control of it, the miners just able to pump and dump bitcoin with their porfolio, but we can recover the value over the time. Something bitcoin doesnt need is being controled, decentralized is the best way to bitcoin.
The author is not talking about controlling bitcoin but its value. Controlling bitcoins and bitcoins value are two different things and must not be thought as one. But you are right in your point that bitcoin as it is cannot be controlled due to its decentralized nature. But the price as the author said can be controlled if we all join our hands as one to hold our bitcoins so the price may increase |
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shinratensei_
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Activity: 3094
Merit: 1024
Leading Crypto Sports Betting & Casino Platform
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July 27, 2016, 04:18:59 AM |
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We cant control bitcoin, and isnt that the purpose of no one has plenty control of it, the miners just able to pump and dump bitcoin with their porfolio, but we can recover the value over the time. Something bitcoin doesnt need is being controled, decentralized is the best way to bitcoin.
The author is not talking about controlling bitcoin but its value. Controlling bitcoins and bitcoins value are two different things and must not be thought as one. But you are right in your point that bitcoin as it is cannot be controlled due to its decentralized nature. But the price as the author said can be controlled if we all join our hands as one to hold our bitcoins so the price may increase no one can control bitcoin and their price but for some whale with a lot of volumes their own they can playing the value of bitcoin as they want. it's possible for who having a lot of BTC volume, and until this time the whale is always giving an impact for bitcoin's value. |
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ObscureBean
Legendary
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Activity: 1148
Merit: 1000
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July 27, 2016, 05:15:12 AM |
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I don't think it would be a good thing to attempt to control the value of Bitcoin. It wouldn't work anyway unless Bitcoiners banded into groups and that would just make Bitcoin more centralized. If Bitcoin is about freedom then people should be able to do whatever they please with their coins without feeling any pressure. I think it's best to let Bitcoin evolve naturally, for better or worse.
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Sorrowfox
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July 27, 2016, 06:45:30 AM |
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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.
Well those instances that you have sighted above are not enough to assure that the future value of bitcoin can be controlled. As we all know, we have the law of supply and demand. The greater the demand over supply will result to price increase. You have only mentioned that people need to hold the bitcoins and if they will jsut hold their bitcoins, there will be no transactions and once there are no transactions, there will be no demand created. |
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topiOleg
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July 27, 2016, 08:40:40 AM |
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You have only mentioned that people need to hold the bitcoins and if they will jsut hold their bitcoins, there will be no transactions and once there are no transactions, there will be no demand created.
Such cooperation of everbody holding and no one spending/selling so there are no transactions anymore is never going to happen. Afterall people have different reasons why they own Bitcoin and when they spend/sell it. |
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severaldetails
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July 27, 2016, 08:53:21 AM |
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You have only mentioned that people need to hold the bitcoins and if they will jsut hold their bitcoins, there will be no transactions and once there are no transactions, there will be no demand created.
Such cooperation of everbody holding and no one spending/selling so there are no transactions anymore is never going to happen. Afterall people have different reasons why they own Bitcoin and when they spend/sell it. Transactions are needed to create bitcoins during the mining process, right? How could new coins be created if no transactions are made? |
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bravehearth0319
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July 27, 2016, 09:13:09 AM |
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I do agreed on this topic to control the future value of bitcoin, It is because if don't control it, the value might gonna be decrease and if that happen the users of bitcoins will also be decrease until such time goes down and down there will be no more bitcoin user, But if we control the value more and more there will be no reason to make bitcoin goes down.  |
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jak3
Legendary
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Activity: 1274
Merit: 1004
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July 27, 2016, 09:38:27 AM |
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you got a point but if depends on what type of person is using it or what exactly he knows about it because in my locality there are some stupid ass who say they has 50Bitcoin but they don't even know about what are miners. so educating others are now-days getting negative effects because you have to check each words before saying them because they are fools
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20kevin20
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Activity: 1134
Merit: 1597
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July 27, 2016, 09:57:04 AM |
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I am holding my bitcoins, and many people are doing that too. However, I can't see how we can rise the price doing this. Just think about it: there are people who got hundreds, if not thousands of Bitcoins. I can't change the Bitcoin price having just 1 Bitcoin in my account - that's an infirm sum. They are the ones who can change the price.
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calkob
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July 27, 2016, 10:09:10 AM |
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doing both them things and will continue to do it, everyone should know about this amazing tech ...
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MinerHQ
Legendary
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Activity: 1456
Merit: 1023
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July 27, 2016, 02:58:44 PM |
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I do agreed on this topic to control the future value of bitcoin, It is because if don't control it, the value might gonna be decrease and if that happen the users of bitcoins will also be decrease until such time goes down and down there will be no more bitcoin user, But if we control the value more and more there will be no reason to make bitcoin goes down. Yup, this is a good idea and I too agree with this. I* think this will work out. Yes if bitcoin users increased means the price will be increased. At least the price will be stable. But teaching what is Bitcoin to people is very tough work. But we do because our future in Bitcoin will be bright. Let's do this guys. |
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Nimbulan
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July 27, 2016, 03:04:16 PM |
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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. Showing steady price increases to those who may be interested in using bitcoin help validate its purpose and legitimacy. yeah, i think stable prices for a long time is not that bad, i believe the price is going to go up pretty soon and allow us to make good money so fluctuations are even better |
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Snorek
Legendary
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Activity: 1400
Merit: 1001
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July 27, 2016, 03:12:52 PM |
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You can't push bitcoin adoption. You see bitcoin is a new invention, a new kind od monetary system and payment method. A new tech like this will not take over a world in a day.
The only real way to push bitcoin price higher is by introducing new people to the bitcoin, new people will buy more coins which will push price and adoption higher.
Spending bitcoin is not that important IMO but I realize that without spending we can't have more services accepting bitcoin payments.
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mishra1994
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July 27, 2016, 03:24:04 PM |
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I am holding my bitcoins, and many people are doing that too. However, I can't see how we can rise the price doing this. Just think about it: there are people who got hundreds, if not thousands of Bitcoins. I can't change the Bitcoin price having just 1 Bitcoin in my account - that's an infirm sum. They are the ones who can change the price.
Ya i dont think we can make any changes in bitcoin price or bitcoin future like that. Introducing Bitcoin to new peoples and encouraging more and more peoples to use the bitcoin will increase its popularity and with it price of bitcoin gonna increase as demand for buying it will increase. |
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Kotone
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July 27, 2016, 03:28:09 PM |
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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 $1000, which is honestly what everyone is looking forward to. If early adopters hold the majority of bitcoin then no one else can use it whether they want to or not. This means it would not be of value in the long term since there is no established barometer of what it could potentially be worth in exchange of consumer good and services. This leads us to the next point of getting late adopters to understand why and how to use bitcoin as a method of payment.
2. Educate others about bitcoin: When I explain bitcoin to friends and family I refer to it as "internet money". They ask, "Like Paypal?" and I say, "Very similar, but more like buying early shares of Apple or IBM because it appreciates at a higher rate than the dollar." This has been a useful conversation starter and influenced a few colleagues enough to at least open up a Coinbase account.
There is no need for more (or less) regulation as the status quo of decentralized currency is now a proven concept.
If all of us stops selling and buying bitcoin, btc prices will drop at 1$ . why ? Because time after time, the demand % will be lowered and trading sites will stop transacting bitcoin just because of that matter . and we all know that we are still on mid ages where the bitcoin is still producing . Miners still producing bitcoin but as time goes by, bitcoin currency will be dumped if we will not use this to transact. |
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Hide_ip112
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July 27, 2016, 03:28:37 PM |
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I am holding my bitcoins, and many people are doing that too. However, I can't see how we can rise the price doing this. Just think about it: there are people who got hundreds, if not thousands of Bitcoins. I can't change the Bitcoin price having just 1 Bitcoin in my account - that's an infirm sum. They are the ones who can change the price.
You don't worry about the question of rising prices, which do price controls is a system of mining. So I think it is not related to the owner of the bitcoin has many bitcoin. Everyone is only subject to the mining system and could not do anything for the price of bitcoin |
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Gahs
Sr. Member
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Activity: 294
Merit: 250
Minter
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July 27, 2016, 03:34:14 PM |
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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.
There is this fear that if I spend all the bitcoins with me, I have to buy some more with fiat. The price keeps rising and I have to pay more for 1btc and then pay the trading fee as well... so why not just keep what I have? |
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fravia
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July 27, 2016, 03:37:03 PM |
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You have only mentioned that people need to hold the bitcoins and if they will jsut hold their bitcoins, there will be no transactions and once there are no transactions, there will be no demand created.
Such cooperation of everbody holding and no one spending/selling so there are no transactions anymore is never going to happen. Afterall people have different reasons why they own Bitcoin and when they spend/sell it. Transactions are needed to create bitcoins during the mining process, right? How could new coins be created if no transactions are made? well miners would be still mining bitcoins and they would get their coins, you dont need to make transactions to get bitcoins as far as i know though i might be wrong |
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