webtricks
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February 22, 2017, 04:15:01 PM |
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Hello everybody, I am new to the bitcoin and bitcointalk forum. I just wonder what/who make the price of bitcoin, and what does it depend on?
Price is not determined by any single person or community. It is determined by general trends. By general trend I mean, forces of market i.e. demand and supply. Suppose, 50 people are interested to buy Bitcoin yesterday and pay $1000 for one bitcoin. Now, 100 people wanna buy it today but supply of Bitcoin is limited. In this case, people will be willing to pay more than $1000 so they can grab Bitcoin rather than others. As a result, price will shoot up. So price increases when demand increases and vice-versa. More in image below-  Just replace word 'Firm' to 'Individuals' |
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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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cryp24x
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February 22, 2017, 05:38:32 PM |
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Hello everybody, I am new to the bitcoin and bitcointalk forum. I just wonder what/who make the price of bitcoin, and what does it depend on?
Price is not determined by any single person or community. It is determined by general trends. By general trend I mean, forces of market i.e. demand and supply. Suppose, 50 people are interested to buy Bitcoin yesterday and pay $1000 for one bitcoin. Now, 100 people wanna buy it today but supply of Bitcoin is limited. In this case, people will be willing to pay more than $1000 so they can grab Bitcoin rather than others. As a result, price will shoot up. So price increases when demand increases and vice-versa. More in image below- Just replace word 'Firm' to 'Individuals' This definitely means people make the price of Bitcoin, it is the aggrement between those who sells and those who buy. We do not need to dig deeply on this because without this two factor there will never be a price of any items. The problem with people is that they try to complicate things when a simple word can explain it. |
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Mometaskers
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February 22, 2017, 07:29:22 PM |
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Mostly supply and demand. It's worth what people are willing to pay for it. Its price is rising because people have confidence in it. You can see this during the past scares with the Chinese government calling for meetings with the exchanges. You see some decrease in price as some people sell away their coins because they're EXPECTING that others will sell and the price will drop. This of course present opportunities (maybe you'd like to get into bitcoin, buy when it's low) as well as risks (you just deposited a large part of your savings as bitcoin and then you see the price drop).
People with more bitcoins and knowledge would obviously ride on the waves but for bottom-dwellers like my self, the safest strategy is to still buy and hold. Of course it's possible that bitcoin would suffer a crash from which it will not recover so just be prudent and only invest money you can afford to lose. If you just skipped lattes, deposited it and then lost the money, you probably wouldn't feel so bad as if you moved all your saving from the bank to your bitcoin wallet.
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Taki
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February 22, 2017, 07:43:24 PM |
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Bitcoin is decentralized currency, that means that no one country can control it and spread it's politic. We are, bitcoin users, who control bitcoin, demand for it and it's price. And here the simple principle works - more bitcoin buyings - higher price and opposite.
But this is just in a short word about bitcoin and who controls it. I think you have to read more information about bitcoin for beginners, where bitcoin explained simply.
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MoneyIsDebt
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March 07, 2017, 01:26:52 PM |
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Bitcoin is decentralized currency, that means that no one country can control it and spread it's politic. We are, bitcoin users, who control bitcoin, demand for it and it's price. And here the simple principle works - more bitcoin buyings - higher price and opposite.
But this is just in a short word about bitcoin and who controls it. I think you have to read more information about bitcoin for beginners, where bitcoin explained simply.
I agree with you. People buying more bitcoins and the increase in users of the bitcoin more it will help to raise its price. The good news is that the bitcoin users are increasing every day and people are still interested in converting their savings and their assets into bit-coins. They believe that the bit-coin prices will keep increasing and they will be able to earn well. |
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bitbunnny
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March 07, 2017, 02:04:05 PM |
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Supply and demand always contribute to the movement of price, so basicly Bitcoin users can influence the price. Also the conditions on the market, whales, potential and exusting regulation, hacker attacks on exchangers, Chinese, many different thing. But in different periods Bitcoin price differently responds to those factors.
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allthingsluxury
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March 07, 2017, 02:13:13 PM |
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The same as any other market, the price is based on what the free market deems it is worth. This is based on almost countless factors, and can change fluidly based on external forces. Basically though, the price is what someone is willing to pay you for it. The same as anything else.
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UCHCHILD
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March 07, 2017, 02:23:30 PM |
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It is us the user of bitcoin, we are the one who give the price of it.
The more you buy coin the larger the chance of high amount of it.
If you are familiar with the supply and demand, then you will know it. Its economic like status.
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Kray
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March 07, 2017, 04:47:45 PM |
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Bitcoin price controlled by community(suply and demand), big holder, and also big miner. Big miner has possibility to dump bitcoin price
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DarkIT
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March 07, 2017, 04:55:46 PM |
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bitcoin prices formed by the needs of users bitcoin. at first bitcoin only be distributed after passing a considerable investment, and also pretty big sacrifice. then, once distributed, bitcoin has a price, although the price can be said to be very cheap. up till now.
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genny2kuk
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March 07, 2017, 04:58:48 PM |
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Hello everybody, I am new to the bitcoin and bitcointalk forum. I just wonder what/who make the price of bitcoin, and what does it depend on?
Demand, supply and popularity of bitcoin |
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xIIImaL
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March 07, 2017, 05:27:05 PM |
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bitcoin prices formed by the needs of users bitcoin. at first bitcoin only be distributed after passing a considerable investment, and also pretty big sacrifice. then, once distributed, bitcoin has a price, although the price can be said to be very cheap. up till now.
Value is not based on the bitcoin distribution. Bitcoin price depend on supply and demand in the world market, adoption rate of blockchain technology and reduction of mining blocks. These three factors are bumping the bitcoin value up. After halving mining process in reduce in half of the amount. From that time to now. price is continuously been increase in the chart. |
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bajing
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March 07, 2017, 06:52:28 PM |
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Hello everybody, I am new to the bitcoin and bitcointalk forum. I just wonder what/who make the price of bitcoin, and what does it depend on?
It's depend on the demand if the demand increase, of course the price would rise. of course the first price regulated by the exchange/markets. |
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markyminer
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March 07, 2017, 07:15:34 PM |
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Bitcoin price is determine by the quantity of bitcoin that was supplied at a particular time and amounts of quantity that was demanded at the same particular time. Another thing that determines bitcoin price is traders that are trading based on technical and fundamental issue that take trading decision based on those issues.
i think supply and demand can be the main reason for increasing and decreasing the price of bitcoin. if people are adopting bitcoin and the demand is increasing then the supply will decrease and so the price of bitcoin will increase also. |
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avikz
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March 07, 2017, 09:57:41 PM |
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Actually there are a lot of catalysts based on which the bitcoin price is decided. There is no single factor. The main and major factor is obviously the market cap of bitcoin and the demand. Robust demand and increasing market cap also increases the price of bitcoin. On the other hand, if traders around the world starts selling their bitcoin to book their profit, the price will go down even if the market cap remains almost same.
So basically there are numbers of factors based on which the price goes up or down. But it follows the basic market rule of demand supply chain. If demand is more and supply is less, price will go up. If demand is less and supply is more, the price will go down, as simple as that!
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fitty
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March 07, 2017, 10:14:48 PM |
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Hello everybody, I am new to the bitcoin and bitcointalk forum. I just wonder what/who make the price of bitcoin, and what does it depend on?
The price of the bitcoin depends on the Traders and the users itself. If a lot of users buy bitcoins. The implication will be, there will be a high demand in bitcoins and low in supply. Hence, will make the price higher. On the other side, if many users sell their bitcoins. The supply will increase and the price will decrease. |
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funbarrel
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March 07, 2017, 11:06:59 PM |
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Hello everybody, I am new to the bitcoin and bitcointalk forum. I just wonder what/who make the price of bitcoin, and what does it depend on?
It's depend on the demand if the demand increase, of course the price would rise. of course the first price regulated by the exchange/markets. you are right about it, everything depends only on the people and as more and more people get into bitcoin the demand grows, that's why we reached the new all time high not a long time ago. Besides that though the price of the bitcoin can be changed by the whales it is just a temporary change, it can make some people make decent money. We are the one who makes the price of Bitcoin. If we use Bitcoin more recent, the prices will go up and there will be many positive results. On contrast, if we decide to ignore Bitcoin and only hold it as a type of investment, Bitcoin will slowly be destroyed. And as you can see, China is also one of the main influence to the Bitcoin price. Therefore, we must respect what they are doing or they will knock down the whole Bitcoin system
we everyone on our own, cannot have a big impact usually because we don't have enough bitcoins in order to make a difference though when a lot of people sell/buy at the same time, there is a huge impact. |
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bettercrypto
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March 07, 2017, 11:33:37 PM |
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Hello everybody, I am new to the bitcoin and bitcointalk forum. I just wonder what/who make the price of bitcoin, and what does it depend on?
Well it is the people who are willing to buy Bitcoin and the people who are willing to sell theirs. Simply supply and demand with the influence of news and manipulators. We cannot say that the market purely rely on the supply and demand. There are always people who want to try and manipulat the market. These people can make irregularites on the price of BTC but eventually it will come to a correction. |
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BitcoinGirl.Club
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March 07, 2017, 11:57:43 PM |
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We are responsible for what price bitcoin is pegged at, by directly influencing the supply and demand chain. So for example if bitcoin etf isn't approved we are not to dump our coins but pump or hold to push for better prices to avoid killing the demand that exists and keeps growing everyday .Let's remember that for every action there is an equal and opposite reaction.
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deppil
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March 08, 2017, 12:21:54 AM |
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The same as any other market, the price is based on what the free market deems it is worth. This is based on almost countless factors, and can change fluidly based on external forces. Basically though, the price is what someone is willing to pay you for it. The same as anything else.
perhaps because bitcoin is different from others so that some people think that bitcoin eligible to be purchased. then it goes and creates the bitcoin prices as growing demand |
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