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Author Topic: Don't trust anyone who tells you how much Bitcoin is worth  (Read 585 times)
CryptoBry
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September 23, 2017, 08:48:23 AM
 #1

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What's the value of Bitcoin? I can't tell you that, but I can tell you something equally important: No one knows.

Not a single person can tell you what the price of Bitcoin will be tomorrow, in a month, or in ten years. Not the Core development team that's (sort-of) directing the course for the booming cryptocurrency, not those ubiquitous ads that claim you could be earning millions on crypto, not even Satoshi Nakamoto, Bitcoin's secretive creator (or group of creators) whose identity is still a complete mystery.

The true value of Bitcoin has become a source of debate recently after its price has risen sharply in the past year despite issues like a recent split into two separate systems and moves by China to ban cryptocurrency trading. That has led to concern about Bitcoin's future, and posed the question—is Bitcoin really worth anything?

Bitcoin is a category-defying beast. It's not exactly like gold, not exactly like currency, and not exactly like company stock, and yet it exhibits behavior similar to all of these asset categories. It escapes the confines of economic theory: Try to define it in strictly economic terms, and you'll fail.

More of this nice article here...


Bitcoin is really a new category and those people who are trying to define Bitcoin and its value based on the past analogy may not be doing justice to this digital currency. While we have to look into the past, it would be much better if we focus our energy more on the future. And Bitcoin is the future of money happening today. Bitcoin is different, it is unique and it is valuable on its own right.


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September 23, 2017, 09:29:53 AM
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What's the value of Bitcoin? I can't tell you that, but I can tell you something equally important: No one knows.

Not a single person can tell you what the price of Bitcoin will be tomorrow, in a month, or in ten years. Not the Core development team that's (sort-of) directing the course for the booming cryptocurrency, not those ubiquitous ads that claim you could be earning millions on crypto, not even Satoshi Nakamoto, Bitcoin's secretive creator (or group of creators) whose identity is still a complete mystery.

The true value of Bitcoin has become a source of debate recently after its price has risen sharply in the past year despite issues like a recent split into two separate systems and moves by China to ban cryptocurrency trading. That has led to concern about Bitcoin's future, and posed the question—is Bitcoin really worth anything?

Bitcoin is a category-defying beast. It's not exactly like gold, not exactly like currency, and not exactly like company stock, and yet it exhibits behavior similar to all of these asset categories. It escapes the confines of economic theory: Try to define it in strictly economic terms, and you'll fail.

More of this nice article here...


Bitcoin is really a new category and those people who are trying to define Bitcoin and its value based on the past analogy may not be doing justice to this digital currency. While we have to look into the past, it would be much better if we focus our energy more on the future. And Bitcoin is the future of money happening today. Bitcoin is different, it is unique and it is valuable on its own right.

I agree with you as no one really knows. Its price is dependent on so kany factors and is always a toss coin on whether it would stay afloat or not. Bitcoin is volatile and might be there or disappear if not properly situated to be stable and that is why i agree that no one really knows.



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September 23, 2017, 09:31:46 AM
 #3

Bitcoin's price today is what the agreed price is by (possibly) millions of traders around the world. I can sell my bitcoins for a million each, and that is my price for my item, and you can set yours to a thousand or even ten thousand, but the problem is that no one would agree to it and buy it due to the fact that several millions of people think otherwise. Bitcoin is probably worth nothing, because it's made out of nothing and nobody actually backs it up unlike currencies from the governments, but then people like you and me value it and we subconsciously agree together with a few million people that it's worth what it is today.

It can be a million by tomorrow if all traders subconsciously agree that it is worth as much.

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September 23, 2017, 09:43:52 AM
 #4

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What's the value of Bitcoin? I can't tell you that, but I can tell you something equally important: No one knows.

Not a single person can tell you what the price of Bitcoin will be tomorrow, in a month, or in ten years. Not the Core development team that's (sort-of) directing the course for the booming cryptocurrency, not those ubiquitous ads that claim you could be earning millions on crypto, not even Satoshi Nakamoto, Bitcoin's secretive creator (or group of creators) whose identity is still a complete mystery.

The true value of Bitcoin has become a source of debate recently after its price has risen sharply in the past year despite issues like a recent split into two separate systems and moves by China to ban cryptocurrency trading. That has led to concern about Bitcoin's future, and posed the question—is Bitcoin really worth anything?

Bitcoin is a category-defying beast. It's not exactly like gold, not exactly like currency, and not exactly like company stock, and yet it exhibits behavior similar to all of these asset categories. It escapes the confines of economic theory: Try to define it in strictly economic terms, and you'll fail.

More of this nice article here...


Bitcoin is really a new category and those people who are trying to define Bitcoin and its value based on the past analogy may not be doing justice to this digital currency. While we have to look into the past, it would be much better if we focus our energy more on the future. And Bitcoin is the future of money happening today. Bitcoin is different, it is unique and it is valuable on its own right.

This can apply to any new tech, when Internet was first created, some people were saying that its useless or won't improve our lives significantly and then there was a dotcom bubble which could have reinforced this sentiment, but can you imagine the world now without the Internet? Same happened with many other inventions - electricity, cars, planes, trains and so on. Of course sometimes new technologies fail because they are too expensive, impractical or way behind their time, but I think usually chances that new technology will succeed are much higher, you only have to make sure that it's a legit invention and not some scam.

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September 23, 2017, 10:39:36 AM
 #5

No one can predict the price only pricr we know is of the past 1$ 1000$ etc , the future can never be predicted anywhere in the world what we are doing is speculating the price which might happen based on bitcoin demand and people preferring it as a better investment. While predicting the price we should also predict how can the price fall by how much it has become a myth that price will increase but future is always unknown



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DaMut
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September 23, 2017, 11:00:45 AM
 #6

Actually everbody can predict it as their wish but the only thing that we should know is nobody can see the future.
There are a lot of opinion about their view regarding Bitcoin and the way they value it.you can not deny every single of their prediction or their opinion because they have a freedom to talk or say it loud,the only thing that we should know is read and learn.
Everything that exist in this world have their charateristic,mission,vision,advantage and else.Bitcoin has its own purpose and about the real value about itself nobody yet to know about it.but there will be a lot of prediction will come out,you can choose to believe it or not because it's all speculation

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September 23, 2017, 11:08:40 AM
 #7

even the charts? well, ive heards there are groups who manipulate the value but still..
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September 23, 2017, 11:23:07 AM
 #8

No one can predict Bitcoins price however they can speculate an amount when they read the charts and could a range of around how much Bitcoin will be worth the next days or whatsoever. But I usually trust my instincts more than anyone who tells me what Bitcoins price will be tomorrow or the next day.

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September 25, 2017, 11:27:26 AM
 #9

This is what those FUDsters like that Jamie from JP Morgan keep forgetting. They keep insisting that it don't have an inherent value. This is hard for people to see considering it still look new to them. It is basically money that have records everywhere, and can be sent quickly. It's too much for them to absorb.
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September 26, 2017, 12:27:21 PM
 #10

No one can predict the price only pricr we know is of the past 1$ 1000$ etc , the future can never be predicted anywhere in the world what we are doing is speculating the price which might happen based on bitcoin demand and people preferring it as a better investment. While predicting the price we should also predict how can the price fall by how much it has become a myth that price will increase but future is always unknown
No one at all. We cannot know exactly what happens tomorrow. All we drop now are basic speculations with hope that one day, it will amount to something. We do not pray for anything negative to happen, but if it does, there is nothing we can do. As much as we hope for positive, we still have no idea where we are all going to end up with this our blockchain pursuit.

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September 26, 2017, 12:30:50 PM
 #11

Bitcoin can be valued and analyzed like a typical company. It’s just now reaching the realm of fair value. This has been obvious since it was at $5, but for some reason people overcomplicate things they don’t understand.

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September 29, 2017, 05:32:58 PM
 #12

My value today is capped based on what I want to sell it. If so many people believe today that it is worth buying bitcoin presently at $10,000 as there will be a huge demand for it in the next few years, then it will be hard to see prices lower than that anymore in any of the exchanges. As @dothebeats rightly said, if I already make up my mind today that I ain't selling any of my bitcoin until it has reached $1m, then that is the value I have placed on it until a day will come for me to someone who is willing to purchase it.

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September 29, 2017, 06:19:59 PM
 #13

the price of bitcoin now was decided by the people on the market, if somebody tells us it will reach $10k by the end of this year, don't believe easily, no one really knows, but it can possibly able to reach those caps. in the price nobody has the power to see what lies ahead, it is just like  bidding, where in people decides what should be the price for it by day to day.

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September 29, 2017, 06:24:44 PM
 #14

You all are right with that, i am tired of reading posts telling lies about bitcoin, or just reading some posts of people who are only trying to make FUD in this forum, in order to create panic on the market. It is plenty of them, and everytime there are bad news, all those people suddenly appears with crazy charts showing that XX will drop to 0.
Anyway, i still trust in my instict, so i wont sell my coins because of those people.


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September 29, 2017, 06:43:28 PM
 #15

It can be overvalued or undervalued, so no one really knows that much worth your bitcoin is. In the beginning it is quite cheap. Remember Laszlo? who bought pizza back in 2010 for 10,000 BTC? https://bitcointalk.org/index.php?topic=137.0

He really don't know that this 10,000 BTC would be worth millions by now. So bitcoin can't be really define by what we used to know to price certain commodities. It has its own characteristics that we the community can understand but from the outside, they seems that they have no clue about it, like Dimon who called it a fraud.

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September 29, 2017, 07:55:00 PM
 #16

Bitcoin is a wonder that grows finance, the value is inestimable because nobody can say certainly where price will go . Meanwhile adoption and acceptance by countries is one key I see that will keep growing this digital currency until it will get to an equilibrium where it will either continue to exist or will evaporate for something new to takeover.

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September 29, 2017, 08:18:22 PM
 #17

the price of bitcoin now was decided by the people on the market, if somebody tells us it will reach $10k by the end of this year, don't believe easily, no one really knows, but it can possibly able to reach those caps. in the price nobody has the power to see what lies ahead, it is just like  bidding, where in people decides what should be the price for it by day to day.
it is depending on the interest of the people. if people are interested in bitcoin they will try to trade bitcoin and it will increase the demand of bitcoin and the supply will decrease and therefore the price of bitcoin increase. we have very good example of Doge when people were interested there the price of dogi was so high but whe people stop investment in doge its price start reducing and now we can see that its price trading in a very very low value.
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September 29, 2017, 09:35:33 PM
 #18

I totally agree with you, everyone here can only have some predictions about its price. But real world, i mean people, goverments, technical issues, miners etc. will create Bitcoin's price. Now we can only show the advantages of crypo, but the question is, how much are these things worth?

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September 29, 2017, 09:44:52 PM
 #19

I totally agree with you, everyone here can only have some predictions about its price. But real world, i mean people, goverments, technical issues, miners etc. will create Bitcoin's price. Now we can only show the advantages of crypo, but the question is, how much are these things worth?

Everybody participating in that because they are making bitcoin famous and people are coming to invest now a days many famous sites also allowed acceptation of bitcoin.

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September 29, 2017, 09:53:37 PM
 #20

I don't believe any one can actually predict the movement of bitcoin rather what is used to guess the direction that it will go is fundamental. For instance, the news from China earlier this month saw bitcoin rovering in downwards and now I think the downwards are over for bullish. Basically, positive news propels the bitcoin market, again, the Japan adoption.

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September 29, 2017, 10:01:31 PM
 #21

Quote
What's the value of Bitcoin? I can't tell you that, but I can tell you something equally important: No one knows.

Not a single person can tell you what the price of Bitcoin will be tomorrow, in a month, or in ten years. Not the Core development team that's (sort-of) directing the course for the booming cryptocurrency, not those ubiquitous ads that claim you could be earning millions on crypto, not even Satoshi Nakamoto, Bitcoin's secretive creator (or group of creators) whose identity is still a complete mystery.

The true value of Bitcoin has become a source of debate recently after its price has risen sharply in the past year despite issues like a recent split into two separate systems and moves by China to ban cryptocurrency trading. That has led to concern about Bitcoin's future, and posed the question—is Bitcoin really worth anything?

Bitcoin is a category-defying beast. It's not exactly like gold, not exactly like currency, and not exactly like company stock, and yet it exhibits behavior similar to all of these asset categories. It escapes the confines of economic theory: Try to define it in strictly economic terms, and you'll fail.

More of this nice article here...


Bitcoin is really a new category and those people who are trying to define Bitcoin and its value based on the past analogy may not be doing justice to this digital currency. While we have to look into the past, it would be much better if we focus our energy more on the future. And Bitcoin is the future of money happening today. Bitcoin is different, it is unique and it is valuable on its own right.
I do agree not to trust anyone especially about the price of bitcoin. As a person who knew bitcoin well, i will just monitor its price in the internet because it is indicated there. I dont need to trust anyone about its price because i can learn it myself. We should have enough knowledge about bitcoin in order for us not to fool by someone.
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September 29, 2017, 10:39:27 PM
 #22

I totally agree with you, everyone here can only have some predictions about its price. But real world, i mean people, goverments, technical issues, miners etc. will create Bitcoin's price. Now we can only show the advantages of crypo, but the question is, how much are these things worth?
The real value of a product is decided by the people and it is shown by their acceptance ,the white paper of bitcoin was submitted at an apt time when the world did not know how to tackle the recession and for those who could really understand the concept of a real decentralized monetary system became a part from the beginning and the rest is history.














 

 

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September 29, 2017, 10:43:37 PM
 #23

Well it is true that no one knows what will be Bitcoin price in the next 30 minutes.  Bitcoin price is driven by market speculation so the price keep fluctuating and changing because the demand and supply of Bitcoin changes every minute.

The real value of a product is decided by the people and it is shown by their acceptance ,the white paper of bitcoin was submitted at an apt time when the world did not know how to tackle the recession and for those who could really understand the concept of a real decentralized monetary system became a part from the beginning and the rest is history.

True it is the people who decides how much they are willing to buy or sell their Bitcoin.  The price is decided by ourselves if we want to transact with it or not.

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September 29, 2017, 11:31:33 PM
 #24

Well it is true that no one knows what will be Bitcoin price in the next 30 minutes.  Bitcoin price is driven by market speculation so the price keep fluctuating and changing because the demand and supply of Bitcoin changes every minute.

The real value of a product is decided by the people and it is shown by their acceptance ,the white paper of bitcoin was submitted at an apt time when the world did not know how to tackle the recession and for those who could really understand the concept of a real decentralized monetary system became a part from the beginning and the rest is history.

True it is the people who decides how much they are willing to buy or sell their Bitcoin.  The price is decided by ourselves if we want to transact with it or not.
The point is more and more transactions the price movement will be faster.
or we conclude that more and more are using Bitcoin then Bitcoin will be valuable.
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September 30, 2017, 01:00:08 AM
 #25

Why not? All you need to do is go to any site like an exchange or preev.com and can see how much Bitcoin is worth.



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September 30, 2017, 03:12:03 AM
 #26

Smiles, some prophets and gurus say that Bitcoin is worthless, the truth is that banks worldwide and some nations have a great interest in technologies based on blockchain, part of the attraction are the profits that are generated in projects and ICO, product of the creativity and initiative of visionaries who probably do not know the future value of their projects.

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September 30, 2017, 03:24:06 AM
 #27

Well it is true that no one knows what will be Bitcoin price in the next 30 minutes.  Bitcoin price is driven by market speculation so the price keep fluctuating and changing because the demand and supply of Bitcoin changes every minute.

The real value of a product is decided by the people and it is shown by their acceptance ,the white paper of bitcoin was submitted at an apt time when the world did not know how to tackle the recession and for those who could really understand the concept of a real decentralized monetary system became a part from the beginning and the rest is history.

True it is the people who decides how much they are willing to buy or sell their Bitcoin.  The price is decided by ourselves if we want to transact with it or not.
The point is more and more transactions the price movement will be faster.
or we conclude that more and more are using Bitcoin then Bitcoin will be valuable.
Your point sounds good,more using of the bitcoin will increase the price of the bitcoin.we all knows the the value of the bitcoin when it was launched and today's value.the price is keep increasing by how much we use the bitcoin as a currency for our needs.Can we conclude that at the time when all people knows about the bitcoin the price willbe very very high.So its better to invest today itself.
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September 30, 2017, 04:21:58 AM
 #28

The past analogy might play little or no role on the bitcoin price but it could give us proofs of its rise patterns in terms of value. It can't do much more than that as seen. The bitcoin price is artwork of investors that is what I'm seeing in my daily life. I have seen so many news coming everyday, with each news there is big merchants or sometimes government are involved who can disturb the price either in negative way or the positive way. It's not that complex as more investor means more volume getting driven in the bitcoin and hence the price we see.

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September 30, 2017, 05:31:02 AM
 #29

It always become a good thing to speculate about bitcoin will rise in the future and vice versa.
If more people join in bitcoin environment in order to trade bitcoin for profit, it may cause volatility in the market.
If people really believe in bitcoin to store the value and use it as medium of exchange, the price will constantly increasing.
Indeed, bitcoin isn't all of those but consider it as an alternative currency which still on development to gain more value and stability.
We can't say bitcoin price will reach certain price tomorrow or next week, moreover for a month or years, but we just speculate based on our predictions due to current market situation, it may not precise but at least almost true.

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September 30, 2017, 06:29:53 AM
 #30

Quote
What's the value of Bitcoin? I can't tell you that, but I can tell you something equally important: No one knows.

Not a single person can tell you what the price of Bitcoin will be tomorrow, in a month, or in ten years. Not the Core development team that's (sort-of) directing the course for the booming cryptocurrency, not those ubiquitous ads that claim you could be earning millions on crypto, not even Satoshi Nakamoto, Bitcoin's secretive creator (or group of creators) whose identity is still a complete mystery.

The true value of Bitcoin has become a source of debate recently after its price has risen sharply in the past year despite issues like a recent split into two separate systems and moves by China to ban cryptocurrency trading. That has led to concern about Bitcoin's future, and posed the question—is Bitcoin really worth anything?

Bitcoin is a category-defying beast. It's not exactly like gold, not exactly like currency, and not exactly like company stock, and yet it exhibits behavior similar to all of these asset categories. It escapes the confines of economic theory: Try to define it in strictly economic terms, and you'll fail.

More of this nice article here...


Bitcoin is really a new category and those people who are trying to define Bitcoin and its value based on the past analogy may not be doing justice to this digital currency. While we have to look into the past, it would be much better if we focus our energy more on the future. And Bitcoin is the future of money happening today. Bitcoin is different, it is unique and it is valuable on its own right.
I Strongly agree with you, i love how the bitcoin community and bitcoin itself supports each other to shape the future of currency and also the future of payment. Owning one is a great privelege. We should really focus on the future of bitcoin as a currency and continually show support for it's maturity.
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September 30, 2017, 06:46:39 AM
 #31

I completely agree. I just love how volatile bitcoin is today. It just goes to show that Bitcoin, in today's state, has a lot more in-store for us. I'd give it a few months to see another major development. Never ever get baited from people telling you the value of bitcoins. Read and speculate with experts. Believe only on the graphs and always be keen on news. People wouldn't be gullible enough to believe fake prices if they only knew where to find actual and true news on bitcoins.

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September 30, 2017, 06:54:00 AM
 #32



Smiles, some prophets and gurus say that Bitcoin is worthless, the truth is that banks worldwide and some nations have a great interest in technologies based on blockchain, part of the attraction are the profits that are generated in projects and ICO, product of the creativity and initiative of visionaries who probably do not know the future value of their projects.



Yes world accepted the swift technology and I believe that they will integrate the swift with blockchain for better tomorrow. They have seen the potential of blockchain technology through all this years. They know that banking system can improve with the implantation of blockchain.


The prices will always drive crazy if something like this happens in the future. Plus there are huge chances that government will accept the bitcoin along with blockchain. The potential is huge for this coin.

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September 30, 2017, 07:49:35 AM
 #33

If this is true then bitcoin will grow faster and I'm sure the bitcoin price will definitely be higher than now, and now is the right time to invest in bitcoin.

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September 30, 2017, 08:03:59 AM
 #34

All I see on the news is just propaganda news to negate the effects of bitcoin and its popularity. Fact is people are worried that they did not enter the crypto market and they are losing out on the easy money that crypto investors made by buying bitcoin. It is human nature to defame something that you want but could not have. It is your decision whether you want to buy or sell bitcoin and thus no one is forcing you to do so. I am holding bitcoin for its worth and willing to sell small amounts of it when prices rise again.

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September 30, 2017, 08:05:54 AM
 #35

I completely agree. I just love how volatile bitcoin is today. It just goes to show that Bitcoin, in today's state, has a lot more in-store for us. I'd give it a few months to see another major development. Never ever get baited from people telling you the value of bitcoins. Read and speculate with experts. Believe only on the graphs and always be keen on news. People wouldn't be gullible enough to believe fake prices if they only knew where to find actual and true news on bitcoins.

It a haven for trader. The volatility makes bitcoin what it is today. Without it, no one will try and invest on it and believing that next day will be another price increase. Maybe you are referring to the Segwit2x in just a couple of months which will be another major milestones to all of us. For those who have a hard time reading the graph or TA I suggest you spend your time here in the forum and see what experts has to say about the price movement. Its purely based on speculation though, so just make sure you are in your senses and make better judgement. And as what the OP has stated, Don't trust anyone who tells you how much Bitcoin is worth.

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September 30, 2017, 10:05:02 AM
 #36

even the charts? well, ive heards there are groups who manipulate the value but still..
They call them whales! They have the funds most especially and they try as much as possible to also use speculations to their advantage. Imagine having a whole lot of cash now and I tell everyone working under me to start buying at any rate, the value of course keeps increasing and every trader and users want to quickly get in back until we start seeing a huge rise in value (that is being able to control the market)... stuffs like this are normal and we cannot help it. Once it gets to a value, I can easily start dropping bit by bit to my own advantage to make some profits.

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September 30, 2017, 08:49:18 PM
 #37

If this is true then bitcoin will grow faster and I'm sure the bitcoin price will definitely be higher than now, and now is the right time to invest in bitcoin.
There is hardly any doubt to deny this fact that Bitcoin market price will keep on increasing in a very similar fashion as we have seen in the past in the coming days. In my opinion, you need to go through charts and something on which you can rely while deciding the market price of Bitcoin in the coming days.

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September 30, 2017, 08:54:15 PM
 #38

It always become a good thing to speculate about bitcoin will rise in the future and vice versa.
If more people join in bitcoin environment in order to trade bitcoin for profit, it may cause volatility in the market.
If people really believe in bitcoin to store the value and use it as medium of exchange, the price will constantly increasing.
Indeed, bitcoin isn't all of those but consider it as an alternative currency which still on development to gain more value and stability.
We can't say bitcoin price will reach certain price tomorrow or next week, moreover for a month or years, but we just speculate based on our predictions due to current market situation, it may not precise but at least almost true.

Having more people in this bitcoin ecosystem is always better, but the idea is different. Some people are trying to manipulate the other holders by saying incaccurate things.

People should determine the bitcoin on their own, not depending on others.
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