➚➝➘ 1[btc]➔$1000 EXpensive or Not??

[HEPHAISTOS]

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[unamis76]

bitcoin far from being a universal currency because it seems too expensive for more than 80% Of the world population which can not obtain such a sum even by accumulating all their annual income

Bitcoin is divisible... That's not an issue. If you can't buy 1, you can probably buy 0.1.

Price isn't going to dictate if Bitcoin will be a "universal" currency or not. It can be a universal currency if it's worth 1 or 10000$. The usability of the network is what's going to dictate it.

[Xester]

Bitcoin will not go back to 500$ this year. The 700$ for bitcoin is the smallest value of bitcoin that can occur this year. To say that it will reach 1000$ again that will of course possible by June  and will go back to 700$ again  by September due to the release of fiat digital currency. This is based on my observation, but it is my dream that by the end of the year bitcoins price will stumble at 2000$ each.

[Dmitry.Vastov]

We can still use bitcoin fragments(satoshi). Just like a dollar. We can still use its small part of it. Thats not a problem.
But yeah. $1000 per piece is expensive because it almost hit the ath. If you look at the history of bitcoin and how it grow. Bitcoin at its earlier days has a value of just about $1 a piece. Isn't that crazy? Its okay even if it reach $5000 because it has the same value of bitcoin when you buy it.

[aso118]

After that the price of bitcoin reached the top for over $1000 a price that is not within the reach of everyone and that lets the bitcoin far from being a universal currency because it seems too expensive for more than 80% Of the world population which can not obtain such a sum even by accumulating all their annual income, other people who have acceded to this currency would say that $1000 is not yet the real price because the real price is much higher than that .
We experienced this situation in the end of year 2013 where the prices reached the same value but with a less number of peoples and bitcoin and the following was the sudden drop of prices which were less than $500 in most of the year 2014 and less than $ 200 in some period of the same year but which has allowed other people to join the bitcoin community , so I wonder if the year 2017 would be the year where we will see the largest number of bitcoin User or low prices or both?

I agree that some people are put off by the price, but that is psychological more than anything else. If people can't buy bitcoins, then they should buy satoshis. This is one of the reasons why stocks are split or bonus shares are issued.

[Digitalbitcoin]

Actually price of bitcoin should be more than $1000 as per consideration of its popularity, demand and value. Anyone in globe can buy bitcoin at current market price. But additional advantage of bitcoin is it can be divided in 100000000 satoshi and which can be individually identified. So if user have small equity can go for smaller amount of bitcoin which can be defined in satoshi.

[Zadicar]

Its not really necessary that we should buy 1 bitcoin since we could always bought a small fraction on it and people could really do that on small amounts therefore if they accumulate enough satoshis then they might save 1 whole bitcoin which is really affordable on todays price.We already saw $1100 price on 2017 and now it goes back again to $750 which means we wont really know the price of bitcoin in next days,months or years.

[BillyBobZorton]

What I never understand is why if bitcoin has a really high price, like $5000+, suddenly bitcoin comes an elitist coin and "not for everyone".

Who cares how high bitcoin is? everyone can own some since it's as divisible as it gets.
It's like saying the dollar is not for everyone because few people can have 1 million... nonsense.

[bettercrypto]

After that the price of bitcoin reached the top for over $1000 a price that is not within the reach of everyone and that lets the bitcoin far from being a universal currency because it seems too expensive for more than 80% Of the world population which can not obtain such a sum even by accumulating all their annual income, other people who have acceded to this currency would say that $1000 is not yet the real price because the real price is much higher than that .
We experienced this situation in the end of year 2013 where the prices reached the same value but with a less number of peoples and bitcoin and the following was the sudden drop of prices which were less than $500 in most of the year 2014 and less than $ 200 in some period of the same year but which has allowed other people to join the bitcoin community , so I wonder if the year 2017 would be the year where we will see the largest number of bitcoin User or low prices or both?

I agree that some people are put off by the price, but that is psychological more than anything else. If people can't buy bitcoins, then they should buy satoshis. This is one of the reasons why stocks are split or bonus shares are issued.

How about using mBTC instead of BTC, wont that make the price of mBTC looks cheaper?  It is all in psychological aspect.  Unless the person really want to buy that BTC but his budget is obviously cannot afford it which i can call stupidity. Why take a whole when you can take it by part and eventually owning a whole of it.  So my answer, it is not expensive if you buy it partially

[Velkro]

What is the ideal price for bitcoin to become an universal currency?  (Voting closes: January 12, 2018, 01:59:23 PM)

None from the above.
This poll has not single correct answer for me.
Bitcoin doesn't need a specific price to become universal currency. It is adjusting by itself to balance between rich and poor.
There is no diffirence if someone buying 1 btc or 0.1 btc or 0.01 btc or 10 btc.... there are bitcoins for everyone, depends on decimal places only.

[Kprawn]

We have to put this into perspective :

Total currency in circulation

In 1990, total currency in circulation in the world passed 1 trillion USD. After 12 years, in 2002 this figure was 2 trillion USD, and in 2008 it

had increased to 4 trillion USD, broken down by country as follows:

Eurozone – 1035.2 billion USD, 24.30% of world total
United States – 850.7 billion USD, 19.97%
Japan – 762.4 billion USD, 17.90%
China – 492.3 billion USD, 11.56%
India – 140.3 billion USD, 3.29%
Russia – 110.8 billion USD, 2.60%
UK – 87.5 billion USD, 2.05%
Canada – 43.8 billion USD, 1.03%
Switzerland – 40.3 billion USD, 0.95%
Poland – 37.7 billion USD, 0.89%
Brazil – 37.3 billion USD, 0.88%
Mexico – 34.3 billion USD, 0.81%
Australia – 32.4 billion USD, 0.76%
Pakistan – 17.63 billion USD, 0.42


Other countries – 537.4 billion USD, 12.89%

So do the math, because I am too lazy to do that now. Take all the bitcoins in circulation and multiply it by 100 000 000 Satoshi's. Do you

think we will have enough? In January 1mBTC was worth $1.  

[deadsilent]

Yes. Its expensive if you got no money. By the way. You dont have to buy a whole bitcoin because you can still use its fragments. When the price go up to $5000. Its fragments like bits or mbtc will surely will increase also. So no need to worry about being expensive because every sats can be useful. I think the op thinks he can only buy a whole bitcoin and not small fragments is not available. If you buy a whole bitcoin. Thats expensive. Thats why theres fragments so we can afford it according to our budget.

[kryptqnick]

I think that bitcoin needs to cost a lot to become a universal currencies so that more people will be able to use it. Then mostly hundreds of satoshi will be used and so a lot of people will have some. How can bitcoin become universal when there aren't many people who can actually use it due to finite quantity? This would be quite strange. I don't believe that it will really be so, but bitcoin has to cost around $15000 for people to use it more IMO.

[BitcoinHodler]

After that the price of bitcoin reached the top for over $1000 a price that is not within the reach of everyone and that lets the bitcoin far from being a universal currency because it seems too expensive for more than 80% Of the world population which can not obtain such a sum even by accumulating all their annual income,

80% of the world population don't have to buy 1 whole bitcoin. or 10 or 100. they can and should always invest what they can afford to invest. someone can and will invest $100 and gets 100/[current price]BTC and some other can and will invest 10,000 and gets 100/[current price]BTC

just like with buying or investing in anything else such as gold. you don't buy a ton of gold, you buy a gram,...

other people who have acceded to this currency would say that $1000 is not yet the real price because the real price is much higher than that .

i don't like calling it real price, it is not a right word, it is more like a potential price which i believe is more than $5000

[Ayers]

i think not, $1k is very low for bitcoin we were there two times, this alone say that it's not the correct value for bitcoin, for me it's should be at least 5k or 10k not less than that

What is the ideal price for bitcoin to become an universal currency?  (Voting closes: January 12, 2018, 01:59:23 PM)

None from the above.
This poll has not single correct answer for me.
Bitcoin doesn't need a specific price to become universal currency. It is adjusting by itself to balance between rich and poor.
There is no diffirence if someone buying 1 btc or 0.1 btc or 0.01 btc or 10 btc.... there are bitcoins for everyone, depends on decimal places only.

but if everyone adopt bitcoin it will eventually go very high, thus making a correlation between the two, isn't this right? i think so

[FaucetRank.com]

Bitcoin can not be expensive because in my view if you are buying $1 Bitcoin for $1000 than I would say you converted your $1000 to 1 Bitcoin and this 1 Bitcoin worth $1000 so you just changed the form of money not the value of money.

[Mastsetad]

I don't really feel that the price of bitcoin can stop anyone from adopting or using bitcoin no matter how poor someone should be. If you have $100 you can buy 0.1btc with that if the price is $1000, and if the price grows to $2k later on the amount you have bought will increase 100%, so someone can always be a part of this community if they are willing to do so.

[mobnepal]

I don't think there is anything like ideal price for bitcoin, price of bitcoin will never be constant as its price will keep fluctuating with respect to demand and supply just like price of gold.

[calkob]

Bitcoin is def for everyone, it allows every person on earth to fully control their own wealth.  as a store of value and and as a payment system to pay others.  I think that with 10 years bitcoin will be worth far more  than $5000 which means that at a $1000 bitcoin is cheap.   

[BrewMaster]

when you look at how big bitcoin has gotten in the past 8 years and then look at how small bitcoin still is compared to what it can really be then you can easily understand that numbers like $1000 are so tiny.
there is a reason why bitcoin has 8 decimal places down to 1 satoshi, that is because it is going to be worth something some day.