anneiS_02 (OP)
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June 04, 2017, 12:06:55 PM |
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What are the factors that affect the bitcoins value ? Just curious guys. Wanted to learn more.
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eckmar
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June 04, 2017, 12:16:25 PM |
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What are the factors that affect the bitcoins value ? Just curious guys. Wanted to learn more.
Just like about anything in the world. Supply and Demand. If more people are buying it price will go up, and more miners there are price will go down. Simple as that. |
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DoublerHunter
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June 04, 2017, 12:25:58 PM |
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What are the factors that affect the bitcoins value ? Just curious guys. Wanted to learn more.
One of the factors that i know that keep affecting the bitcoin value is the news about bitcoin. If the news of bitcoin is always good then it will affect the price of bitcoin and it will be one of the big helper for the price to pump up and also the investors that are investing in bitcoin and because of the continuous money then it is resulting for a price increase also. |
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JL421
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June 04, 2017, 12:32:04 PM |
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It is just factors like every other stock , if people demand for bitcoin or are just spending to buy the current supply of coins , it increases the market cap of bitcoin which in return increases the price.
While for a drop when 1 or 2 people sell it doesn't affect the price at all, but me 100's of people selling their bitcoins together the price can drop
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pawel7777
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June 04, 2017, 12:33:29 PM |
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Just like about anything in the world. Supply and Demand. If more people are buying it price will go up,
That's correct in principle but it's too broad. OP is pretty much asking (I assume) what creates demand for bitcoins (and hence, its value). ...
and more miners there are price will go down. Simple as that.
Wrong, would make sense if you replaced "miners" with "sellers". Number of new bitcoins being created is constant and rules are set in protocol, so it's not like more miners would mine more new bitcoins. If anything, more miners (and higher difficulty/security) would drive the price up. Miners operating at small margins would be more hesitant to dump bitcoins if the price was too low and will more likely engage in speculative holding. |
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Janation
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June 04, 2017, 12:37:19 PM |
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What are the factors that affect the bitcoins value ? Just curious guys. Wanted to learn more.
Many replies here are also some that I knew that can affect bitcoin's price, though, I think there are still some factors that affect the value of bitcoin, when people invest on bitcoin, they do nothing, which means, they stock their bitcoin into their bitcoin wallets, that bitcoins will not be joining the circulation of bitcoin to people.I can't explain it very well. |
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Creepings
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June 04, 2017, 12:42:47 PM |
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What are the factors that affect the bitcoins value ? Just curious guys. Wanted to learn more.
Just like about anything in the world. Supply and Demand. If more people are buying it price will go up, and more miners there are price will go down. Simple as that. I don't think having a lot of miners will makethe price go down or dump. Demand can affect the value of bitcoin, the supply of bitcoin is not that big, that is why it is not a factor that affect bitcoin, unless we knew that bitcoin is infinite. I think with the price of bitcoin, many people will be more attracted and will have a high value, more than it has today. |
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NorrisK
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June 04, 2017, 12:44:12 PM |
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Value is way more than just the price.
If someone values sending a certain amount of money to another country on a Sunday or holiday, than bitcoin offers that value.
If someone values being in control of their wealth, bitcoin offers that.
People should look beyond price to determine the value of bitcoin. Value is just so much more than just the price.
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Red-Apple
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June 04, 2017, 12:45:11 PM |
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generally speaking it is supply and demand that controls price of anything and bitcoin is no exception.
but because price is only determined on the bitcoin exchanges, and bitcoin exchanges are still small compared to real big commodity exchanges or Forex brokers, the price can be affected by how much resistance in both ways exists on the orderbooks.
if there is a huge buy wall price can go up and if there is a whale putting up sell walls price can go down.
but in the long term there is no stopping it.
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CraigWrightBTC
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June 04, 2017, 12:51:39 PM |
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What are the factors that affect the bitcoins value ? Just curious guys. Wanted to learn more.
Bitcoins has limited numbers just 21. b today many people who know about bitcoins and started buy bitcoins demand and supply of bitcoins is one of many factors that affect the bitcoins value, the other factors is speculation from the users who want take profit from fluctuation of price bitcoins usually they are traders with large capital on exchangers. |
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YuginKadoya
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June 04, 2017, 12:52:28 PM |
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What are the factors that affect the bitcoins value ? Just curious guys. Wanted to learn more.
Many replies here are also some that I knew that can affect bitcoin's price, though, I think there are still some factors that affect the value of bitcoin, when people invest on bitcoin, they do nothing, which means, they stock their bitcoin into their bitcoin wallets, that bitcoins will not be joining the circulation of bitcoin to people.I can't explain it very well. That is just one factor, if more and more people adapt bitcoin and would buy and earn it, it will surely add to the community but this is just one factor to include in the vast things on how it affect the value of bitcoin, With increased usage and wider adoption of Bitcoin, the demand for bitcoins is always increasing. constant supply and increasing demand, and the only factor in the equation that can budge is the price of bitcoin by going up and Bitcoin price gradually increases over the long-term. and Every bitcoin exchange transaction that involves the purchasing of bitcoin via another currency, whether fiat or Cryptocurrency, has the effect of pushing the bitcoin price up. And Every exchange transaction that involves the selling of bitcoin or exchanging to fiat or Altcoins causes a drop in the price of Bitcoin. well I just elaborate some simple fact on how bitcoin value changes and the fluctuating sometime happen from the least expected. |
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Labumi
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June 04, 2017, 12:54:32 PM |
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Actually the main thing that affects the value of bitcoin is the ease and efficiency in it also. many people use the bitcoin because it depends on a lot of value that is much better than the others. For reserved prices, bitcoin much more has the edge. But keep in mind that, bitcoin has vulnerable time is yet to be ascertained. So we should be able to keep the property well and we don't just stripped on the advantages it brings, but we have to think of the possibility that will happen
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Cofee.BLUE
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June 04, 2017, 01:00:52 PM |
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The factors that affect the bitcoins value is the supply and and demand.
If the demand goes up then the price will go up and if the demand goes down the price will go down Same with the supply.And the exchange rate also affects its value.
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pearlmen
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June 04, 2017, 01:05:41 PM |
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What are the factors that affect the bitcoins value ? Just curious guys. Wanted to learn more.
Bitcoin is an emerging currency that is just penetrating which means new entrants are coming in every day with their resources and speculation thereby forcing the market in a particular direction. Also, the people who have been in the game understand the forces of demand and supply, so they hoard there making the available BTC unable to go round the community which will force the price up. For the fall in price, there are other factors responsible such as news from certain quarters that cause unnecessary dumps. |
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Slark
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June 04, 2017, 01:18:15 PM |
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Bitcoins has limited numbers just 21. b today many people who know about bitcoins and started buy bitcoins
demand and supply of bitcoins is one of many factors that affect the bitcoins value,
the other factors is speculation from the users who want take profit from fluctuation of price bitcoins
usually they are traders with large capital on exchangers.
What if in the future bitcoin developers decide that bitcoin price need to be lowered or that we need some healthy inflation to boost bitcoin usage and increase number of total bitcoins? We heard already that some scaling solutions proposed before included suggestion that coin limit increase will be a good change to bitcoin. Bitcoin value is determined by perception and the technology behind it. There is widespread acceptance which will create the network effect. |
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kpcian
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June 04, 2017, 01:23:58 PM |
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Have you noticed recent values of the bitcoin.??.it has created a better place than gold, many people are becoming astonished at seeing this high level of value, if this rate is going to be increasing at same level then it will be a massive amount of money....
People believe in returns to scale, if it's high, then people want to be dependent on it..
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EXtremeAEX
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June 04, 2017, 01:26:10 PM |
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If today all the countries started to adopt Bitcoin as their official digital currency for everyone to use, if people favor Bitcoin more than PayPal on the Internet, then BOOM! Buy BTCBTCBTC, Prices goes ⬆⬆⬆. Since BTC is limited, there would be competition as more and more people gets Bitcoin.
It is like sharing Bitcoin with the world, in a way. Bitcoin can be affected by companies who decided to invest and use them to, companies with influence on a major-global scale especially. More Users ➡ More Demand ➡ Prices increase.
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BitFinnese
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June 04, 2017, 01:29:19 PM |
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What are the factors that affect the bitcoins value ? Just curious guys. Wanted to learn more.
Basically it is the supply and demand of the people, but the increase in price is affected by peoples demand and how much they are willing to pay for Bitcoin. This demand is affected by the speculative thinking of investors which is further affected by technology, usage, and most of all the possible profit in the long run. |
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bhabygrim
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June 04, 2017, 01:29:54 PM |
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Base on the Subject on this threads. I think Bitcoin value are depends on the world trade value and demands. We also need to read more and research more so predict future price or value of btc. =)
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Kprawn
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June 04, 2017, 01:30:02 PM |
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The value will be different from person to person... let's take an example : You are originally from Nigeria, but you are currently working in the USA. You want to send money home but MoneyGram or Western Union takes say between 10% to 15% of the money for "admin fees". If you send any amount via Bitcoin, you pay between $2 to $5 and even lower.... What is the value for you? ----> The saving by sending it via Bitcoin.  |
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