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Author Topic: What Will Influence the Price per Bitcoin?  (Read 2611 times)
Rob768
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June 16, 2011, 11:25:59 PM
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Will there be more positive or negative influences in the coming months?

Negatives could include negative media attention, and security issues, while positives could include the growth by word of mouth.

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Matarael
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June 16, 2011, 11:30:57 PM
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Positives will include improved security against hacking and ddos, slower and more stable levels of price increase, and greater liquidity of investment. Also improved adoption from vendors.
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June 17, 2011, 01:05:42 AM
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demand-->price goes up
lack of demand-->price goes down

demand will be caused by merchants accepting bitcoins
lack of demand will be caused by maintaining the status quo wrt merchants and miners selling their 7200 every day
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June 17, 2011, 08:33:05 AM
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There are three broad groups of people who actually need bitcoins:

- The young, who don't have credit cards and maybe not even non parent controlled bank accounts but want to send someone money.  What better way than bitcoin?

- The embarrassed, who probably don't want payments to a porn web site appearing on their credit card statement.

- The 'legally challenged', who want to order illegal goods, pay for an illegal service or just want to move money with an added layer of obscurity (tax evasion, money laundering, etc).

The rest don't really matter.  Bitcoin will never be popular as long as it's a geek's toy, or used on the basis of libetarian ideals.  I expect the above three groups to drive bitcoin's adoption (or failure, if they're just not interested).

Do not send bitcoins to me: 16b8s7pBJ9rUmsExNW25qD5VUqVqRPZuXu
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hugolp
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June 17, 2011, 09:04:34 AM
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There are three broad groups of people who actually need bitcoins:

- The young, who don't have credit cards and maybe not even non parent controlled bank accounts but want to send someone money.  What better way than bitcoin?

- The embarrassed, who probably don't want payments to a porn web site appearing on their credit card statement.

- The 'legally challenged', who want to order illegal goods, pay for an illegal service or just want to move money with an added layer of obscurity (tax evasion, money laundering, etc).

The rest don't really matter.  Bitcoin will never be popular as long as it's a geek's toy, or used on the basis of libetarian ideals.  I expect the above three groups to drive bitcoin's adoption (or failure, if they're just not interested).

Those might be the drivers at this point, as libertarians ideals and geek interest were the drivers when bitcoin was just an idea. But when/if the Bitcoin economy develops due to those drivers, Bitcoin will become a very real and efficient way of sending money around the world and as it grows more merchants will see the utility of accepting it.
neptop
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June 17, 2011, 10:01:48 AM
 #6

Don't forget The Paranoid! Wink
And the P2P-Fanatics...

In other words: Don't forget ideological reason.
Some times they have a lot of influence.

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