There is no "proper" price for bitcoin

[Grdas130979]

Supply and demand gives the right price, if no one want to buy a BTC then its value is zero. If i am hungry to death then a piece of pizza worths all the BTC of the world

[ASHLIUSZ]

Pricing is just a part of the technology which is given importance to get the attention of users for their needs. The circulation in all factors of buying, selling and all other parts decide the price to vary in accordance to time.

[xuan87]

Yes I think there is no proper price for bitcoin, actually bitcoin was created for user to be more convenient in transaction and no need to exchange rate to do global transaction, but somehow now it become the trade commodity and because of that the price becoming more valuable, so it is about market demand, so there is no actual price for bitcoin

[erickkyut]

There is really no proper price for bitcoin. It depends on the law of supply and demand which estates that if the supply is low, the demand is high and if the demand is low, the supply is high! This law is applicable to almost everything that can be found in the market.

[requester]

obviously when the market is unstable then there is no question of same price over a long time so bitcoin is unstable. REASON: demand of cryptocurrencies are increasing day by day and people take first step only in bitcoin so its demand is increasing day by day but its supply is almost negligible that is very less as compared to demand so its price keeps increas. its the law of market

[Amph]

while i agree, i like to think that the minimum value should be the one that make the miners take their profit, to avoid the network being unsecure

so there is definitely a bottom price for bitcoin and a price where you say that bitcoin succeeded, which reflect the worldwide adoption

[Mometaskers]

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

True, if people are willing to sell a house and lot for tulip bulbs, I see no reason why there have to be a "proper" price for bitcoin.

Sure, it's designed to have a limited amount in circulation like precious metal but that don't give it any intrinsic value. If everyone decide to dump their bitcoins today, then we can expect it to lose value. Which would then attract some people to buy it for close to nothing, more people buying it then means it starts gaining value again, and so on...

[Senor.Bla]

I always thought there is a reason for a big price rise or drop not only for Bitcoin, but for all goods. If supply doubles then the price goes down or if fails what it is supposed to do then the price drops. We might not always have all the information and price might behave unexpected sometimes, but i always thought this is right for the longer run.
With Bitcoin i can not see such a thing and i would say that the price follows no logic, but maybe it is my fault, to believe that the price should be related to some actual facts.

[Gotottack]

I guess this is brought about the very reason that we still link bitcoin with fiat currency that we still see a dollar value or whatever currency it is that we compare bitcoins to. We can't eliminate this unless bitcoins because the only currency the world and everybody will only use it and nothing else.

[Raimonn]

The problem looking for a proper price, its that on buyer's view the price always seems expensive, and for the seller it looks cheap. It happens with bitcoins, and with other things. When you ask for gold price opinions users have the same questions.

[marcoman22]

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

Yes, there is no stable price for bitcoin. It varies in proportion to demand and supply.In fact, bitcoin as an asset,has outperformed any other asset on earth over the last five years and perhaps even in history.So price with bitcoin is a very magical thing indeed.And bitcoin is not an imagined community.It has already proved how worth it is and if it is an imagined community, then why such big banks and government sectors accept and try to implement blockchain technology?

[Rahar02]

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.

Ini other words, there is no right time to buy bitcoin as the price keep fluctuate and rise up as time goes on.
But, many people get into bitcoin and act as traders, always looking for buy-sell at the right price which sometimes cause another decrease to the price. However, only big whales that could manipulate the market price and give us time to buy bitcoin at cheaper level.

[ilovefeetsmell]

No Proper price because bitcoin rapidly change in its value.

[CraigWrightBTC]

Price for bitcoin depend on demand and supply on every markets in the countries
usually Chinese markets always needs much bitcoin than other markets and
bitcoin's price always be more high than other markets,
there is no proper for bitcoin just there are supply-demand.

[hl5460]

No Proper price because bitcoin rapidly change in its value.

Is there any other similar assets?

[wavespump]

Bitcoin has its intrinsic value, deflation is the most important one, it is also the currency of freedom, people fight for their money against inflation like fiat currency. Your articles says that btc has no proper price, I fully agree, current price is a bargain compared to the long term.

[hl5460]

Bitcoin has its intrinsic value, deflation is the most important one, it is also the currency of freedom, people fight for their money against inflation like fiat currency. Your articles says that btc has no proper price, I fully agree, current price is a bargain compared to the long term.

Good point. How much do you value the "deflation" feature?

[MFahad]

Yes I think there is no proper price for bitcoin, actually bitcoin was created for user to be more convenient in transaction and no need to exchange rate to do global transaction, but somehow now it become the trade commodity and because of that the price becoming more valuable, so it is about market demand, so there is no actual price for bitcoin

You are right. Have you ever been told USD price is this and this.  NO.
But when we say about bitcoin we compare it with USD because Bitcoin is not widely used and we normally convert the bitcoins into Fiat before using it in majority of locations. So thats why its price is determine by demand and supply like a commodity and not like a currency.

[hl5460]

Yes I think there is no proper price for bitcoin, actually bitcoin was created for user to be more convenient in transaction and no need to exchange rate to do global transaction, but somehow now it become the trade commodity and because of that the price becoming more valuable, so it is about market demand, so there is no actual price for bitcoin

You are right. Have you ever been told USD price is this and this.  NO.
But when we say about bitcoin we compare it with USD because Bitcoin is not widely used and we normally convert the bitcoins into Fiat before using it in majority of locations. So thats why its price is determine by demand and supply like a commodity and not like a currency.

Do you see a scenario that reverse the comparison? How could bitcoin be used in a majority of locations without smooth tx confirmation?

[Kakmakr]

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"?

Even better yet, do you call a whole network of merchants and service providers that accepts Bitcoin as a payment option, a "imagined community"? I do not know what qualifies as a community, if a network like this, with a huge user base are not defined as a community?

Try again, because you missing the point. ^smile^ This whole forum is a community.