There is no "proper" price for bitcoin

[hl5460]

Most people didn’t buy in bitcoin as the price is not “right” or in other words, too expensive. However, there will be no “proper” price for bitcoin. Lao Mao , COO of Yunbi, released an op-ed article, expressing his views on bitcoin and rebutting some general conceptions among the public.

He concludes the following:
 There is no right price for bitcoin.
 Automated transaction is irrelevant to price
 Developers doesn’t have a better understanding of bitcoin than John Doe
 Pseudo-conception for bitcoin-based applications
 Bitcoin is a imagined community
 Organizational impacts to the long-term value of bitcoin is zero


http://news.8btc.com/op-edthere-is-no-proper-price-for-bitcoin

[Carlton Banks]

Welcome to Economics 101 lol. There is no "proper" pricing for anything, it's all subjective.

[NUFCrichard]

Welcome to Economics 101 lol. There is no "proper" pricing for anything, it's all subjective.

It's worth what people are willing to buy it for.  At the moment that is about $1010 on US exchanges.
I don't really see any extra depth to the question/statement. 

Does Bitcoin have an intrinsic worth?. Do and should mining costs be related to the price?  Those are tougher questions. The price is about $1010 at an exchange.

[Pettuh4]

Welcome to Economics 101 lol. There is no "proper" pricing for anything, it's all subjective.

Precisely, it's all about demand and supply and from the look of things Bitcoin is going to be priced upward and upward until there are no more to be sold. I'm just keeping my fingers crossed to see how things turn out.

[sotoshihero]

Of course, there is no "proper" price for bitcoin. It is the market that dictates it,the law of supply and demand.Price is volatile, someone can dump his bitcoins whenever he wants nor pump if he has a substantial amount of bitcoin.As we know,no one controls the bitcoin.

[aarturka]

There's only 0,003 bitcoin per one human. The price should be much much higher

[kryptqnick]

Welcome to Economics 101 lol. There is no "proper" pricing for anything, it's all subjective.

It's worth what people are willing to buy it for.  At the moment that is about $1010 on US exchanges.
I don't really see any extra depth to the question/statement. 

Does Bitcoin have an intrinsic worth?. Do and should mining costs be related to the price?  Those are tougher questions. The price is about $1010 at an exchange.

The price surely depends on people, their faith and possibilities. As for intrinsic worth.. I think btc doesn't have it, because there are no materials from which it is made. Mining is related to the price in a way, because after halving people who mine need to spend more time and money on doing the same job, so they need it to be still profitable. There is no proper price for bitcoin and yet there seems to be proper everage price of it for the community.

[hl5460]

Welcome to Economics 101 lol. There is no "proper" pricing for anything, it's all subjective.

It's worth what people are willing to buy it for.  At the moment that is about $1010 on US exchanges.
I don't really see any extra depth to the question/statement. 

Does Bitcoin have an intrinsic worth?. Do and should mining costs be related to the price?  Those are tougher questions. The price is about $1010 at an exchange.

The price surely depends on people, their faith and possibilities. As for intrinsic worth.. I think btc doesn't have it, because there are no materials from which it is made. Mining is related to the price in a way, because after halving people who mine need to spend more time and money on doing the same job, so they need it to be still profitable. There is no proper price for bitcoin and yet there seems to be proper everage price of it for the community.

Do you regard bitcoin hodlers as a "imagined community"?

[Oggy1987]

There's only 0,003 bitcoin per one human. The price should be much much higher

Low amount of availability is not what determenes price. Its what people are willing to pay for it. There are also good altcoins, so amount is much bigger.

[Xester]

I agree to that bitcoin has no proper price and it is normal like other commodities on the stock market. Let us take gold for example there is no fix price since the price is dictated by the market flow.Bitcoin is the same  with gold but what makes bitcoin different to other commodities in the stock exchange is the range of bitcoins volatility.

[bettercrypto]

Welcome to Economics 101 lol. There is no "proper" pricing for anything, it's all subjective.

Precisely, it's all about demand and supply and from the look of things Bitcoin is going to be priced upward and upward until there are no more to be sold. I'm just keeping my fingers crossed to see how things turn out.

Not only demand and supply Bicoin is also subject to speculation.  Since most early adopters that hold a good amount of bitcoin are now wealthy elites.  People are driven with the belief that Bitcoin train has not left yet and assuming that Bitcoin will be adopted by the whole world and getting the ratio between Bitcoin and world population for its actual price.  They tend to think that Bitcoin is undervalued atm, and it will increase in price so they buy and hold them as much.  But as I said this is just mere speculation and I think Bitcoin price varies from people to people in accordance how they view Bitcoin price value.

[aarturka]

There's only 0,003 bitcoin per one human. The price should be much much higher

Low amount of availability is not what determenes price. Its what people are willing to pay for it. There are also good altcoins, so amount is much bigger.

Alts are just scam there's no need of them. There's only one priceless Mona Lisa and plenty of useless copies.

[digaran]

Define proper please, just tell half of the miners to stop mining to see what proper price really means. people admittedly talk about the inevitable rise in price over time but are like the bystanders just watching as events occur. don't mind me though I'm just an imaginary friend of Satoshi's .

[bitjoin]

Welcome to Economics 101 lol. There is no "proper" pricing for anything, it's all subjective.

It's worth what people are willing to buy it for.  At the moment that is about $1010 on US exchanges.
I don't really see any extra depth to the question/statement. 

Does Bitcoin have an intrinsic worth?. Do and should mining costs be related to the price?  Those are tougher questions. The price is about $1010 at an exchange.

In theory we will remove money entirely at some stage in human evolution. Its not the most optimum way to divide resources between people since 1 persons opinion on what they need resouce wise entirely for their whole life is usually flawed.  I think this is why there is no proper pricing for anything and its all subjective.

[shield132]

There's only 0,003 bitcoin per one human. The price should be much much higher

Your opinion isn't correct because every human isn't using bitcoin, our community isn't big and there are some million people who uses it. Nowdays everyone can buy bitcoin without problems and if there will be more people interested in, than it will cause bitcoin price rise up. Nowdays supply of bitcoin is enough for it's users, there is no need of more higher price now. Imagine, when bitcoin was very new and it don't had users, it's price was some cents and when people were interested in bitcoin and it gained many user, now you see how much become prise.

[mrkevio]

The price changes as soon as people want to sell it for more. If people want to sell it for $2000, it would be sold for $2000 and that would be the price. We are changing it, and it is changing so slow because we are millions using it.

[BlackPanda]

certainly no one can do that. all bitcoin price changes happen. even an expert in the analysis traders can not do a correct prediction.

[Taki]

The price for bitcoin just seems to high in the current moment. in some developed countries to spend 1000$ to buy one bitcoin would be good investment in future. Bitcoin will be doubbled during this year. So it is fast chance to dobble your money.
I think some people just do not understand bitcoin in how it works, because of it is totally unique thing. Weneed to be educated about bitcoin.

[Decoded]

Maybe Bitcoin shouldn't have a price? Maybe it should be free, and you should give me all of yours?

The price for bitcoin just seems to high in the current moment. in some developed countries to spend 1000$ to buy one bitcoin would be good investment in future. Bitcoin will be doubbled during this year. So it is fast chance to dobble your money.
I think some people just do not understand bitcoin in how it works, because of it is totally unique thing. Weneed to be educated about bitcoin.

I'm not sure how educated you are. Bitcoin's values is not "too" high, if anything, it's too low. You're thinking wrongly, as if you need to buy exactly one Bitcoin. Bitcoin is infinitely divisible (in theory), so you have to get rid of the idea of their being a "1" unit of Bitcoin anyway.

[n691309]

There is no right time to buy bitcoins because we always hope that the price will become cheaper but then we see that suddenly the price gets higher and higher, the current price is high but it may be low if we think after few years.