Let's Control the Future Value of Bitcoin

[avikz]

It is almost impossible to manipulate bitcoin value unless and until you have at least a million dollar to invest for this game. Bitcoin is basically dominated by public sentiment.

If you can dominate the public sentiment then you can manipulate the price without much investment. But if you want to do it with money, you must have at least a million dollar to play with. 

[Cuidler]

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?

No one holds forever, you have to spend the Bitcoins once. With large number of people, everybody going to spend the Bitcoin at different time, thats why there going to be always enought Bitcoins in circulation. So any cooperated attempt to control the Bitcoin value by everyone holding going to fail, as there will be always many people who take advantage of the increased price and sell their Bitcoins.

[mobnepal]

Controlling bitcoin price is out of question man, we need lots of fiat or lots of bitcoin to really control whole bitcoin price. As bitcoin have 10 billion USD marketcap so atleast 4-5 billion USD or even more is needed to hold 51% or majority of bitcoin and i don't think any of the billionaire out there will be willing to put this much in bitcoin to pump the price or to maintain regular increase in bitcoin price. However it is true that with increasing deamand and supply of new coin getting limited after few years we may see even 4-5x price than now.

[Kprawn]

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.

You are contradicting yourself here... one the one hand, you are saying people need to spend their bitcoin and not horde it, and on the other hand you are comparing Bitcoin to Apple or IBM shares?

This must be confusing to people, because they see the store of value and they see the currency use... which of these two gives the highest value? There should be a balance between the two, and I

call this the " 80/20 principle " You horde 80% and you spend 20% of your total bitcoins. The hording is good for the price and the spending stimulates the economy. 

[crairezx20]

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.

For now we didnt see any huge pump after these weeks after block halving but they are still holding  tight to others that they are still believing that the price of bitcoin will increase more ..

[Hirose UK]

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

I agree. bitcoin is a good investment, so if people realize it, probably they will hold more, not spend it unless the price goes up. if many people hold bitcoin and less demands, of course the price will be down.

so if we promote bitcoin to others, we need to tell them about thiss too, about the price and how we can make bitcoin worth.

[Omegasun]

i think it is impossible to controll bitcoin price. a lot of factor is involved in the price variation of btc. for example the mining of btc.. it can affect by the volume of btc that they will produced, if the mining rate decrease or increase in can be a cause for price variation. the best example here is the halving event. second example here is the cold storage and other btc that lost or burned.
i think this is hard proposal. bitcoin is a anonymous currency and no one owns. 

[vindicare]

Controlling the future of bitcoin will need some services that everyone can access in each country before we can say we can control it and make name. As long as people can keep their Bitcoin and not thinking to spend it because there's no place/site they can spend it the price will increase overtime.

[The Sceptical Chymist]

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.

No, no, no.  That is exactly like saying your silver coins should be spent at the gas station.   It's silly.  Bitcoin is primarily an investment which functions as such very well whilst doing nothing.

[shinratensei_]

Controlling the future of bitcoin will need some services that everyone can access in each country before we can say we can control it and make name. As long as people can keep their Bitcoin and not thinking to spend it because there's no place/site they can spend it the price will increase overtime.

Please teach me or giving me any explained for this, why just too controlling the bitcoin is needed some service, does all of it not just relied on the bitcoin users. because can making the bitcoin having the future it's because their users and giving a food for bitcoin everyday.

[Jastetad]

i think it is impossible to controll bitcoin price. a lot of factor is involved in the price variation of btc. for example the mining of btc.. it can affect by the volume of btc that they will produced, if the mining rate decrease or increase in can be a cause for price variation. the best example here is the halving event. second example here is the cold storage and other btc that lost or burned.
i think this is hard proposal. bitcoin is a anonymous currency and no one owns. 

We cannot control the bitcoin price at all. What we need to do is just develop the bitcoin and the price will rise as a result.

[johnnyyash]

i believe spending bitcoin decrease its value,giving it more opportunity to be used by proof...when we have much of it, i think its best we spend or invest on it as proof to others of the value of bitcoin..and i believe it will keep goin on..

[beerlover]

I think best way to increase the value of bitcoin is adoption.
If all big companies takes bitcoin it means we are as close to living only with bitcoin without fiat in our life as possible, if that day comes that people can live (comfortably of course , because there are people living with bitcoin but there somethings that I can't pay with btc yet here) with bitcoin only and not look for bitcoin accepted places because they are everywhere then the bitcoin price will increase. Also if there are good news about it rather than silk road and hacks and so on that would help as well.

[topiOleg]

Also if there are good news about it rather than silk road and hacks and so on that would help as well.

Good news dont sell well, so I would not count on that (and there are good use cases Bitcoin has like donation Bitcoin address to some non profit organizations). So spending Bitcoins is surer way for Bitcoin to be more usefull and recognized among people, as already sated in both your and OP post.

[wikenpp]

i think it is impossible to controll bitcoin price. a lot of factor is involved in the price variation of btc. for example the mining of btc.. it can affect by the volume of btc that they will produced, if the mining rate decrease or increase in can be a cause for price variation. the best example here is the halving event. second example here is the cold storage and other btc that lost or burned.
i think this is hard proposal. bitcoin is a anonymous currency and no one owns. 

We cannot control the bitcoin price at all. What we need to do is just develop the bitcoin and the price will rise as a result.

Offcourse we as the masses can influence the price, but the more people the harder it will be to manage the price. And having said that, to what extent will we influence the price?
To what advantage. So newbie's into bitcoin have to pay a bubble price? I really see no advantage influencing the price.
At best we should be able to maintain a certain value.

[JeffBrad12]

I think best way to increase the value of bitcoin is adoption.
If all big companies takes bitcoin it means we are as close to living only with bitcoin without fiat in our life as possible, if that day comes that people can live (comfortably of course , because there are people living with bitcoin but there somethings that I can't pay with btc yet here) with bitcoin only and not look for bitcoin accepted places because they are everywhere then the bitcoin price will increase. Also if there are good news about it rather than silk road and hacks and so on that would help as well.

I don't think so, but we can saw like a steam is accepted bitcoin and you don't forget the steam is having another way of their payment and in my mind, every people is having the comfortable payment for them. And I not agree, if big companies accept bitcoin and that is can lure the new person if having a comfortable payment for their body is wanna for using bitcoin.

[Wind_FURY]

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.

To spend bitcoins you need to earn bitcoins. All of us earn fiat in the real world from our jobs, so we spend fiat for our needs. We are ordinary people and most of us will not buy bitcoin to spend them. We buy bitcoin because it is an investment. It is the companies that are involved in bitcoin that should take the responsibility of encouraging the spending of bitcoins by having available jobs that pay in bitcoin. 

[Quantus]

The market cap of Bitcoin is only about $10 billion USD.

More like six billion when you factor in all the missing lost coins.

[Bemerand]

Stupidest post in the forum currently

[davis196]

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.

"The catalyst is you and me."Yeah,right.If i spend my 0.7 btc this will increase the bitcoin price for sure.

I will never explain bitcoin to my friends and family because they will think that it`s a scam.

Big players control the btc price.You and i can`t stabilize it.