FrueGreads
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October 15, 2017, 10:55:49 AM |
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I've been thinking about why people use Bitcoin a bit lately and its long-term potential. It used to be touted as an alternative to fiat currency, and in fact, the future of currency. Now it seems that people are talking about Bitcoin more as a store of value - a place to keep your money safe that is not a bank or an institution. I know a lot of us invest in Bitcoin more for the perceived increase in value; basically, a lot of us want to get rich.
Here's my question: Would you still continue to move your fiat currency to Bitcoin if it topped out at around USD$5000 and you KNEW it would not go higher, but you also KNEW it would not dip in value? Maybe we could assume it would rise with inflation. If this were the case would you be more or less likely to move your money to Bitcoin?
I think if that ever happened and if the problems with fees and transaction speeds were completely solved, then we would see a mass increase in the use of bitcoin. When you use something as a store of value, it's hard to use it as a currency as well. If you want to store something for profit, you don't want to spend it. If bitcoin was completely stable at $5000 you would probably start using it as currency, because now you would know that if you bought something with it today, you wouldn't regret it tomorrow, because the price had increased a lot. Also if you take a look to fiat, inflation has been rising a lot in most countries, and governments debt is getting downgraded. So even if you didn't use bitcoin to buy stuff, if you knew it was stable at $5000, it would still be good to swap fiat for BTC, because your money would be safe from the effects of politics, and wars etc. That's why gold is so good for investors, so it would be the same for bitcoin. At least for me. |
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bitcoinmagneto
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October 15, 2017, 11:21:37 AM |
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Yes, i will use bitcoin even when if it stabilizes around USD$5000 even though according to me there is no chance of such happening in the near future . It will be like a safe for keeping the money secure without any fear of theft.
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makishart
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October 15, 2017, 11:24:36 AM |
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Yes, i will use bitcoin even when if it stabilizes around USD$5000 even though according to me there is no chance of such happening in the near future . It will be like a safe for keeping the money secure without any fear of theft.
That's actually true, price becoming stable? that's just a myth, bitcoin have no country backing it up while most of the time price affected by demand, and also, a news could just shake the whole crypto market. But if it's going to happen, bitcoin will be more convient for paying stuff. |
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ajmapalo22
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October 15, 2017, 12:07:49 PM |
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Yes I will still use bitcoin even if it will have an established price besidea I think that it would be better if there is a price fixed for bitcoin I don't have to worry that my savings can suddenly crashed and lose its value I will also have a fixed income which will be good in establishing for my budget in expenses.
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cryptoknightt
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October 15, 2017, 12:12:54 PM |
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If bitcoin price really stable around $5000 that means the price of bitcoin already is strong enough and has high support. so I didn't hesitate to keep moving my money to bitcoin.
let alone see people predict prices will rise higher and am more confident with it.
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viscera2
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October 16, 2017, 08:45:22 PM |
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Yes i rather to use bitcoin, i use it for my daily transactions. Even if the price stabilized around $5000 or maybe higher. Just put your bitcoin in your bitcoin wallet and save it for a long term.
OMG, "I rather to use bitcoin"?!?! It's pretty clear English is not your first language, and more evidence that you are an Impostor. This Impostor has stolen my account, I am the true Viscera, as such any post made using my old Viscera account should be viewed with extreme skepticism. This includes the Signature campaign. Any truth that comes out of the side of this liars mouth is purely to sucker you in. Forum mods have been notified. |
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Boys27
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The Exchange for EOS Community
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October 16, 2017, 08:54:57 PM |
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depending on my needs, even though the bitcoin price is stable at 5000 price does not matter if I need it I will still buy it, but in accordance with the needs and the amount of money I have.  |
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NeoTech42
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Activity: 200
Merit: 10
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October 16, 2017, 09:03:50 PM |
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Today, the main problem with Bitcoin is that it's used as a speculation tool rather than money to be spent although more and more people and shops accept Bitcoin.
So yes, if someday Bitcoin would stabilised then i and people will begin to really use Bitcoin as a day-to-day money tool to be spent.
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tenakha
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October 16, 2017, 09:15:48 PM |
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depending on my needs, even though the bitcoin price is stable at 5000 price does not matter if I need it I will still buy it, but in accordance with the needs and the amount of money I have. Digital payment tools like bitcoin is good way to earn interest with simply holding it and doing nothing. Bitcoin is not bubble and stabilization is almost impossible under current market conditions. |
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mazzaneo
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October 16, 2017, 09:19:45 PM |
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I would, personally I would like some price stability in BTC because while I enjoy the price rise I see that the volatility also comes with some issues. If BTC were to be locked in at say $5K it might not be a good thing because that implies that it would be depreciating in real value. For BTC to handle inflation it needs to appreciate against fiat.
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romeitaly
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October 16, 2017, 09:23:14 PM |
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I think if that happens, I would still be using it because this is where I get my money for my needs and it can still be helpful for me because of the services I am doing. If bitcoin would ever be like this, then I don't have to problem about its value and I will be contented about it.
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soham
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October 16, 2017, 09:31:16 PM |
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I've been thinking about why people use Bitcoin a bit lately and its long-term potential. It used to be touted as an alternative to fiat currency, and in fact, the future of currency. Now it seems that people are talking about Bitcoin more as a store of value - a place to keep your money safe that is not a bank or an institution. I know a lot of us invest in Bitcoin more for the perceived increase in value; basically, a lot of us want to get rich.
Here's my question: Would you still continue to move your fiat currency to Bitcoin if it topped out at around USD$5000 and you KNEW it would not go higher, but you also KNEW it would not dip in value? Maybe we could assume it would rise with inflation. If this were the case would you be more or less likely to move your money to Bitcoin?
It's true that bitcoin is used by the investors worldwide because of its future potential. The potential looks really great and hence people are buying and storing it. I myself is a similar kind of bitcoin investor who thinks about long term. However, if the the price of bitcoin stabilised around 5k usd the usage will also be changed. Instead of speculators, we will see a different group of investors here who are willing to avoid risk as well as the hawk eye of enforcement agencies. So a lot of people will buy bitcoin instead of investing in gold or similar assets. |
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hahay
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October 16, 2017, 10:00:23 PM |
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Lol, we're already using bitcoin when bitcoin prices are still low and now the bitcoin prices have soared and if these prices continue to persist, then I'm sure everyone here will still use bitcoin. $5000 is a high value for me, I do not have a good reason to leave bitcoins at the current high prices.
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crzy
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October 16, 2017, 10:02:19 PM |
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I've been thinking about why people use Bitcoin a bit lately and its long-term potential. It used to be touted as an alternative to fiat currency, and in fact, the future of currency. Now it seems that people are talking about Bitcoin more as a store of value - a place to keep your money safe that is not a bank or an institution. I know a lot of us invest in Bitcoin more for the perceived increase in value; basically, a lot of us want to get rich.
Here's my question: Would you still continue to move your fiat currency to Bitcoin if it topped out at around USD$5000 and you KNEW it would not go higher, but you also KNEW it would not dip in value? Maybe we could assume it would rise with inflation. If this were the case would you be more or less likely to move your money to Bitcoin?
The price right now is above $5000 and for me i will still continue to buy more bitcoin because of it’s big potential in the future. No matter what the price right now of bitcoin it is still cheap for me, imagine 1year from now, for sure bitcoin will around $10k. |
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cotton ball
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October 16, 2017, 10:23:06 PM |
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I've been thinking about why people use Bitcoin a bit lately and its long-term potential. It used to be touted as an alternative to fiat currency, and in fact, the future of currency. Now it seems that people are talking about Bitcoin more as a store of value - a place to keep your money safe that is not a bank or an institution. I know a lot of us invest in Bitcoin more for the perceived increase in value; basically, a lot of us want to get rich.
Here's my question: Would you still continue to move your fiat currency to Bitcoin if it topped out at around USD$5000 and you KNEW it would not go higher, but you also KNEW it would not dip in value? Maybe we could assume it would rise with inflation. If this were the case would you be more or less likely to move your money to Bitcoin?
The price right now is above $5000 and for me i will still continue to buy more bitcoin because of it’s big potential in the future. No matter what the price right now of bitcoin it is still cheap for me, imagine 1year from now, for sure bitcoin will around $10k. nominal and price is not a major issue for me, but I am constantly distracted by the negative issues of government that continue to voice the ban on bitcoin usage and threaten to shut down the newly formed crypto trading market. This is always confusing, so I do not dare to concentrate on turning most of the money into bitcoins. Currently the price of bitcoin is indeed worth the investment, but the main problem is the form of terror that every day is done by the government. |
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ObscurePen
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November 23, 2017, 09:13:53 PM |
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If this was to happen, then we have created a very stable Bitcoin. The problem is, of course, that this can never happen. Not with cryptocurrencies at least. A few things that stop it is the Bitcoin block reward halving feature and the fact that Bitcoin is becoming popular by the day. The Bitcoin halving decreases supply and at the certain stage cuts it off completely. And since Bitcoin is attaining more mainstream attention, demand goes up.
High Demand + Low Supply = Increasing/High Price
But to answer your question: In short, no I would not use Bitcoin. The main reason I use Bitcoin at the moment is for trading and investing. If the price becomes stable then, I don't see a point in me using Bitcoin.
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