Why Bitcoin cannot drop in price

[deisik]

And remain the No. 1 cryptocurrency at that

If we are to cut the crap and face the facts, Bitcoin is at the top of cryptocurrencies simply because it has managed to attract the biggest amount of fiat (dollars, euro, etc) compared to other currencies (note that this has nothing to do with the so-called "market cap"). And it did so because it has been outpacing most other coins in terms of generating profits in the long term (while generating less losses when it didn't fare quite well, say in 2014-2015), apart from being the first mover, of course. Some coins have recently been (or had been in the past) more profitable than Bitcoin but they all lacked consistency, i.e. the capability of generating profits over long enough time frames. Conversely, if Bitcoin starts generating losses and that wouldn't be temporary while some other currency shows more profitability over the same time span, people will start losing interest in Bitcoin as a speculative asset and turn toward that currency. The inference is that if you want to make Bitcoin die a painful and miserable death, you should, first, make its prices at least stagnant, and, second, pour enough cash into some other coin (more or less decent in terms of technology behind it, say, Litecoin) while (and this is the most important point here) keeping this growth for a certain period of time until the process turns self-sustainable and self-reinforcing

That might not make a lot of sense in the past when Bitcoin was strong (since that would be outright prohibitively expensive), but things may change if, for example, Bitcoin fails to scale successfully. In fact, it may happen even without external and deliberate influence but just because of Bitcoin price declining for a sufficient amount of time on its own. And this is the point I want to discuss

[Red-Apple]

Bitcoin is at the top of cryptocurrencies simply because it has managed to attract the biggest amount of fiat (dollars, euro, etc) compared to other currencies.

no not at all.
bitcoin is on top because it is the most secure and the most decentralized cryptocurrency. it has the best developers team which kept the code good and powerful and it is the most reviewed code out there.
then it attracted a lot of real usage as a currency by lots of merchants.
then it attracted a lot of fiat no the other way around.

all the other altcoins are deficient in one way or another. it doesn't matter whet they claim but as soon as each of them is put to test, they fail each time.

so the only option is bitcoin.

And it did so because it has been outpacing most other coins in terms of generating profits in the long term

in long term, obviously because of the things i said above.
but in short term profit nothing can beat a manipulated pump and dump profit.

if Bitcoin starts generating loses and that wouldn't be temporary while some other currency shows more profitability over the same time span, people will start losing interest in Bitcoin as a speculative asset and turn toward that currency.

only those who see bitcoin as a "cash cow" to milk for more money will do that.

The inference is that if you want to make Bitcoin die a painful and miserable death, you should, first, make its prices at least stagnant, and, second, pour enough cash into some other coin (more or less decent in terms of technology behind it) while (and this is the most important point here) keeping this growth for a certain period of time until the process turns self-sustainable and self-reinforcing

the problem with this logic is what i said above.
when these coins or "alternatievs" are put to test, they all fail miserably because they never tried to fix anything or make a proper platform. instead what they did was making a shining "cash cow" in order to attract a lot of idiots who just see that shine and make money from those idiots. these coins will never go anywhere.

most recent example: etherum and how it failed recently, unable to handle a small increase in its number of transactions. or how a couple of smart contracts already exploited it to steal millions of dollars!

if you think coins like this can even remotely compete with bitcoin in the long run then there is no point even arguing with you

[#CapsLOck]

as a newbie and new to this i think because people or community is backing up bitcoin.

[Juggy777]

And remain the No. 1 cryptocurrency at that

If we are to cut the crap and face the facts, Bitcoin is at the top of cryptocurrencies simply because it has managed to attract the biggest amount of fiat (dollars, euro, etc) compared to other currencies (note that this has nothing to do with the so-called "market cap"). And it did so because it has been outpacing most other coins in terms of generating profits in the long term (while generating less losses when it didn't fare quite well, say in 2014-2015), apart from being the first mover, of course. Some coins have recently been (or had been in the past) more profitable than Bitcoin but they all lacked consistency, i.e. the capability of generating profits over long enough time frames. Conversely, if Bitcoin starts generating loses and that wouldn't be temporary while some other currency shows more profitability over the same time span, people will start losing interest in Bitcoin as a speculative asset and turn toward that currency. The inference is that if you want to make Bitcoin die a painful and miserable death, you should, first, make its prices at least stagnant, and, second, pour enough cash into some other coin (more or less decent in terms of technology behind it, say, Litecoin) while (and this is the most important point here) keeping this growth for a certain period of time until the process turns self-sustainable and self-reinforcing

That might not make a lot of sense in the past when Bitcoin was strong (since that would be outright prohibitively expensive), but things may change if, for example, Bitcoin fails to scale successfully. In fact, it may happen even without external and deliberate influence but just because of Bitcoin price declining for a sufficient amount of time on its own. And this is the point I want to discuss

100% agree with op and let's hope that bitcoins price do not fall. I also feel that bitcoin has by far been the most successful crypto currency, in between they were screaming for ethereum and then came the fall, people are far more comfortable with Bitcoin than any other coins, and with so many Asian countries adoptiong and leading the way any thing is possible, we yet don't know what will August 1st bring except we can be just pray for the best and let's hope it rises only.

[deisik]

Bitcoin is at the top of cryptocurrencies simply because it has managed to attract the biggest amount of fiat (dollars, euro, etc) compared to other currencies.

no not at all.
bitcoin is on top because it is the most secure and the most decentralized cryptocurrency. it has the best developers team which kept the code good and powerful and it is the most reviewed code out there.
then it attracted a lot of real usage as a currency by lots of merchants.
then it attracted a lot of fiat no the other way around

I think the real usage of Bitcoin as a means of payment is inconsequential at best

Since most of Bitcoin value comes via speculation (i.e. "those who see bitcoin as a "cash cow" to milk for more money"). You personally may not not quite like it (I certainly understand your pains), but your dislike can't change anything in this department. That's why I said that we should cut the crap and face the facts in the first place. Apart from that, I can't possibly agree that Bitcoin is "the most secure and the most decentralized cryptocurrency" out there. If you disagree with this, namely, that Bitcoin today cannot be considered as safe and decentralized, then "there is no point even arguing with you". In fact, by "some other coin" I meant Litecoin as the most likely candidate to take Bitcoin's place if the latter fails to scale up properly (I changed my post to reflect that)

[aTriz]

And remain the No. 1 cryptocurrency at that

If we are to cut the crap and face the facts, Bitcoin is at the top of cryptocurrencies simply because it has managed to attract the biggest amount of fiat (dollars, euro, etc) compared to other currencies (note that this has nothing to do with the so-called "market cap"). And it did so because it has been outpacing most other coins in terms of generating profits in the long term (while generating less losses when it didn't fare quite well, say in 2014-2015), apart from being the first mover, of course. Some coins have recently been (or had been in the past) more profitable than Bitcoin but they all lacked consistency, i.e. the capability of generating profits over long enough time frames. Conversely, if Bitcoin starts generating loses and that wouldn't be temporary while some other currency shows more profitability over the same time span, people will start losing interest in Bitcoin as a speculative asset and turn toward that currency. The inference is that if you want to make Bitcoin die a painful and miserable death, you should, first, make its prices at least stagnant, and, second, pour enough cash into some other coin (more or less decent in terms of technology behind it, say, Litecoin) while (and this is the most important point here) keeping this growth for a certain period of time until the process turns self-sustainable and self-reinforcing

That might not make a lot of sense in the past when Bitcoin was strong (since that would be outright prohibitively expensive), but things may change if, for example, Bitcoin fails to scale successfully. In fact, it may happen even without external and deliberate influence but just because of Bitcoin price declining for a sufficient amount of time on its own. And this is the point I want to discuss

Bitcoin price ain't going to fall in the long term. But short term? Bitcoin is very vulnerable to pump and dump cycles just as altcoins do. Though usually what we see is that the pump and dump cycles that are imminent with bitcoin are actually a lot better than altcoin's cycles.

The reason that bitcoin will always beat altcoins is that altcoins is focused around profit. Profit for the early investors, profit for the founders, etc. Basically they are selling an investment scheme disguised in a nice description with a slick website, that's all. It's a speculative tool, nothing else, and the functions and punchlines are just the cover story. This can't be more different with btc.

[Reid]

as a newbie and new to this i think because people or community is backing up bitcoin.

Yeah! That is also the reason for me.
Teamwork! Aint it good?
With the help of each other it remains on the top and can be seen thru its value.
It is an invetment where we are all working to get more investors because it will also make us some money when the price of it grew.
Why other people dont think like that? It seems they are making other reasons and cannot take the truth.

[Red-Apple]

You personally may not not quite like it (I certainly understand your pains), but your dislike can't change anything in this department.

and i can understand your pain of not accepting the fact that as of 2017 there are about 800,000 to a million different merchants that are accepting bitcoin as payment. and that is not counting the new ones in Japan and the illegal ones in dark net.
and also the fact that OpenBazaar is gaining a big traction each day. and with the release of version 2.0 it is on the way to replace traditional online shopping.

In fact, by "some other coin" I meant Litecoin as the most likely candidate to take Bitcoin's place if the latter fails to scale up properly (I changed my post to reflect that)

actually i am not arguing with that!
there is a big if here though. if bitcoin remains like this, without scaling, with increasing fees and with uncertainty about its future and fear of split people will start to think about alternatives. and i can see LTC as a candidate.
but you can't really replace something that has been working perfectly for 8 years. people always forget that the "fee" problem and the scaling so called issue is a very recent one not older than a couple of months. that's the debate and the spam attack that are much older.

[deisik]

You personally may not not quite like it (I certainly understand your pains), but your dislike can't change anything in this department.

and i can understand your pain of not accepting the fact that as of 2017 there are about 800,000 to a million different merchants that are accepting bitcoin as payment. and that is not counting the new ones in Japan and the illegal ones in dark net.
and also the fact that OpenBazaar is gaining a big traction each day. and with the release of version 2.0 it is on the way to replace traditional online shopping

It is pretty much the same as with the so-called "market cap"

Just like this "market cap" is irrelevant for any serious analysis of the cryptocurrency market (real money flows which every coin actually receives are what should be analyzed, just in case), the number of "merchants" that are allegedly accepting bitcoin as payment is meaningless for asserting Bitcoin hegemony. If the majority of these merchants instantly exchange their Bitcoin proceeds to fiat (which is the case), you can safely discard them altogether, even if there were 1 billion of them. Economically, that would still be largely speculation, though not via exchanges directly, but mediated by some payment processor (say, BitPay). In other words, unless there is real closed loop Bitcoin economy, this argument is utterly inconsequential. Regarding Litecoin specifically, I don't speak about instant replacement, I speak more about "slow and gradual, likely painful Bitcoin decline" (as per OP)

[Polar91]

Bitcoin cannot drop in price and still maintaining its position maybe because many people see that they are secured and safe in bitcoin decentralization and it take up too long for bitcoin to maintain its place to the top of the cryptocurrency nation. Although its price have undergo many rise and dumps, people see it as a normal phenomenon in the market and still holding their trust on the bitcoin cryptocurrency.

[mackenzied]

And remain the No. 1 cryptocurrency at that

If we are to cut the crap and face the facts, Bitcoin is at the top of cryptocurrencies simply because it has managed to attract the biggest amount of fiat (dollars, euro, etc) compared to other currencies (note that this has nothing to do with the so-called "market cap"). And it did so because it has been outpacing most other coins in terms of generating profits in the long term (while generating less losses when it didn't fare quite well, say in 2014-2015), apart from being the first mover, of course. Some coins have recently been (or had been in the past) more profitable than Bitcoin but they all lacked consistency, i.e. the capability of generating profits over long enough time frames. Conversely, if Bitcoin starts generating loses and that wouldn't be temporary while some other currency shows more profitability over the same time span, people will start losing interest in Bitcoin as a speculative asset and turn toward that currency. The inference is that if you want to make Bitcoin die a painful and miserable death, you should, first, make its prices at least stagnant, and, second, pour enough cash into some other coin (more or less decent in terms of technology behind it, say, Litecoin) while (and this is the most important point here) keeping this growth for a certain period of time until the process turns self-sustainable and self-reinforcing

That might not make a lot of sense in the past when Bitcoin was strong (since that would be outright prohibitively expensive), but things may change if, for example, Bitcoin fails to scale successfully. In fact, it may happen even without external and deliberate influence but just because of Bitcoin price declining for a sufficient amount of time on its own. And this is the point I want to discuss

No, the value of the bitcoin is decreasing in the present, and there is not any indication of its end. In the past its value was stable and steadily increasing, but recently, its value began to decline, while many other altcoins also fell, the market showing steady moves from the currencies.

[foxbat]

And remain the No. 1 cryptocurrency at that

If we are to cut the crap and face the facts, Bitcoin is at the top of cryptocurrencies simply because it has managed to attract the biggest amount of fiat (dollars, euro, etc) compared to other currencies (note that this has nothing to do with the so-called "market cap"). And it did so because it has been outpacing most other coins in terms of generating profits in the long term (while generating less losses when it didn't fare quite well, say in 2014-2015), apart from being the first mover, of course. Some coins have recently been (or had been in the past) more profitable than Bitcoin but they all lacked consistency, i.e. the capability of generating profits over long enough time frames. Conversely, if Bitcoin starts generating loses and that wouldn't be temporary while some other currency shows more profitability over the same time span, people will start losing interest in Bitcoin as a speculative asset and turn toward that currency. The inference is that if you want to make Bitcoin die a painful and miserable death, you should, first, make its prices at least stagnant, and, second, pour enough cash into some other coin (more or less decent in terms of technology behind it, say, Litecoin) while (and this is the most important point here) keeping this growth for a certain period of time until the process turns self-sustainable and self-reinforcing

That might not make a lot of sense in the past when Bitcoin was strong (since that would be outright prohibitively expensive), but things may change if, for example, Bitcoin fails to scale successfully. In fact, it may happen even without external and deliberate influence but just because of Bitcoin price declining for a sufficient amount of time on its own. And this is the point I want to discuss

No, the value of the bitcoin is decreasing in the present, and there is not any indication of its end. In the past its value was stable and steadily increasing, but recently, its value began to decline, while many other altcoins also fell, the market showing steady moves from the currencies.

I agree with you, the value of bitcoin is decreasing, this is going on continuously, I am not an expert who researches the market, I do not know the reason, however, it is Made me feel nervous. Although I do not own too much bitcoin, but it is enough to make me lose some money.

[DoublerHunter]

I don't think that bitcoin cannot drop in price because there will be a panic selling if there is something wrong and we cannot tell if when it will happen. Bitcoin is just depending on the demand of the users in the market and not dropping in price is just an impossible thing to happen but if you are trying to say that bitcoin will not drop in being the top one then i will agree to that.

[doedz]

as a newbie and new to this i think because people or community is backing up bitcoin.

Belief in Bitcoin is on the rise, and it greatly affects the strength of Bitcoin prices. Everyone keeps it and some buy it for investment. They believe that Bitcoin's future will be worthwhile.

[Pubg_man205]

Bitcoin can not fall at least because it will support all the inhabitants of the forum and spread information about it to their friends. To bitcoin fell you need to come up with something better.

[Windpower]

I definitely agree with you when you say that Bitcoin is number 1. However, that is just for the moment. It has attracted the most attention and is by far the most valuable cryptocurrency at the moment, but that has a lot to do with it being the first cryptocurrency. Also, the fact that the price continues to rise just helps to attract more and more investors each day.

But I think that the bubble will definitely pop in the future. When in the future you may ask, who knows. All I know is that Bitcoin will find its downfall in time to come and there will be another cryptocurrency waiting to overtake it. ETH, DASH, LTC. Who knows which coin with overtake it?

[cpfreeplz]

The problem I have is when I'm reading an article about "bitcoins biggest rival Ethereum". What? Don't make crap up. Ethereum isn't a rival because ethereum and bitcoin don't do the same thing. Isn't bitcoin supposed to support tokens and smart contracts and all that in the future anyways? So why not buy before bitcoins have that tech so you know you're in something that's continuously being developed? The block size issue is going to be a thing of the past in a month's time and there is no other cryptocurrency that's accepted anywhere as much as bitcoins. Where are you going to spend your NEM? Seriously. I've never seen anywhere that openly says they accept it. Their market cap is based on nothing.

Bitcoins can't drop in price because they're based on a fiat value. Fiat is always dropping because they just print more money. The worst thing that could happen to bitcoins is they'll be worth $2500 for the rest of our lives. But at least in 2090 you'll know you can still buy a loaf of bread, some milk, eggs, some doritos, a 2L of Pepsi and some soup and crackers for BTC0.01.

[ximply]

The value of bitcoin is in the person who is holding it.  Since most of us is holding a decent amount of bitcoin, we want to see its value goes up and up.  The ups and downs of its value is due to the law of supply and demand.  But long term the value of bitcoin will continue to rise because more and more people are adopting to bitcoin and the demand will continue to rise while the supply is limited.

People adopting to bitcoin because of its good system and benefits.  It simplify the transferring of funds from one person to another wherever you are. No more bank to bank transactions.  Eventually bank will become obsolete if they will not adopt to this technology.

[webtricks]

And remain the No. 1 cryptocurrency at that

If we are to cut the crap and face the facts, Bitcoin is at the top of cryptocurrencies simply because it has managed to attract the biggest amount of fiat (dollars, euro, etc) compared to other currencies (note that this has nothing to do with the so-called "market cap"). And it did so because it has been outpacing most other coins in terms of generating profits in the long term (while generating less losses when it didn't fare quite well, say in 2014-2015), apart from being the first mover, of course. Some coins have recently been (or had been in the past) more profitable than Bitcoin but they all lacked consistency, i.e. the capability of generating profits over long enough time frames. Conversely, if Bitcoin starts generating losses and that wouldn't be temporary while some other currency shows more profitability over the same time span, people will start losing interest in Bitcoin as a speculative asset and turn toward that currency. The inference is that if you want to make Bitcoin die a painful and miserable death, you should, first, make its prices at least stagnant, and, second, pour enough cash into some other coin (more or less decent in terms of technology behind it, say, Litecoin) while (and this is the most important point here) keeping this growth for a certain period of time until the process turns self-sustainable and self-reinforcing

That might not make a lot of sense in the past when Bitcoin was strong (since that would be outright prohibitively expensive), but things may change if, for example, Bitcoin fails to scale successfully. In fact, it may happen even without external and deliberate influence but just because of Bitcoin price declining for a sufficient amount of time on its own. And this is the point I want to discuss

Yes, fair enough. I am point to point agreed with you. However, Bitcoin is number 1 currency not only because it able to attract most investment but mainly because of its scope as first replica of money on internet. Due to which it reaches to several different niches like paid-to-click sites, affiliate marketing, etc as payment method and more people come to know abouy Bitcoin. Thus, it has grown to glory which we are seeing now.
Other than that if we consider price and caps (obviously not market cap) as a determining factor of coin success, yes we could see investors abandoning Bitcoin and surging some other coin if Bitcoin continues to create scaling problem as mentioned by you. 

[warrior333]

The high level of demand for bitcoin may not last forever. Why invest money in something than you don't use and that has no capitalization. If you will not develop trade with bitcoin we may be witnessing the collapse of bitcoin.