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ceferov
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November 08, 2017, 10:13:42 AM |
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I think with coming years if BTC usage in reality not expands the price of BTC can drop more and more by the time.
Am I wrong?
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buwaytress
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November 08, 2017, 10:44:36 AM |
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Yesterday, BlackRock Strategist Richard Turnill said there’s no inherent right or wrong Bitcoin price, no fair value.
This strategist's comment is so theoretical it's almost a joke. There is a right and wrong Bitcoin price. The test of that is whether anyone in the world would accept a bitcoin for any price above face (right now). Most people would accept bitcoin for a small premium because they'll have faith that the price would soon pass their buy price, but it's only a small amount of premium that would be accepted. Would you buy my 1 bitcoin for $10,000? No. You'd say "that's the wrong price!" This strategist just doesn't know how to value a currency that isn't backed by the GDP of a country. That's all it is. Says the BlackRock strategist who'll definitely say "yes, that's the right price" to anyone who would offer him Bitcoin at say $6,500 right now. Fair value should be a very basic concept for him to grasp. Bitcoin will cost Zimbabweans more than $10,000 right now if bought locally, but there's a lot of considerations priced into that: scarcity against demand being the most obvious, but also the risk that the seller takes (that Bitcoins will be even in more demand and that local currencies are likely to bend even more in a stale economy). When China's exchanges faced closure, similarly the extra risks for owning Bitcoin were priced in, and fair value there was 10% below global market average. Like you said, that's the simple test - will people accept the price? If yes, then that's the right price. Simple, isn't it? |
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el kaka22
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November 10, 2017, 02:15:45 PM |
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The fair value of Bitcoin is what others are willing to pay for it. Right now people are willing to pay about $7000 for a Bitcoin, so that is what it is truly worth. Bitcoin and most other cryptocurrencies are valued by the free market because no government or business owns them (except for possible institutional investments). To me this means that the price is accurate most of the time. The exceptions would be when a whale pumps the price and then dumps the coin or some other manipulation of the price.
That is just the point. If there is no one willing to pay $7000+ for it, then we will just keep hanging at a particular price and if there is no real demand for it, then people would be willing to give it out at a lower value. As long as there would keep being demand for it as long as we get to a point that it becomes useful then the value is perfect at that moment and that is the worth! In short, there cannot be any fixed value for bitcoins as it is purely people's preferences to afford any price levels to buy and to use. |
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zeaderza
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November 11, 2017, 11:41:43 AM |
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We could not determine any particular value as fair value of bitcoin.Just as gold price increases or decreases with change in demand,same would be with bitcoin.Its price is affected either positively or negatively by the market factors.Japan legalized bitcoin and thousands of retailers started accepting bitcoin payment triggering its price.China's ban on ICOs made bitcoin price to fall a little temporarily.Bitcoin's potential is that it deserves more price than what it is today.
Gold is now in the history bitcoin and this coin has surpass all the beneficial investment and now its price is totally depending on the user trend as demand gets high price become high and as demands gets low price remain stable or start to go down and all this is the story of btc and this coin has ability to click back and now its price is at 7,5k and that’s the best price to achieve and still there is a lot of room to increase. |
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PizzaBTC
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November 11, 2017, 12:54:31 PM |
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We could not determine any particular value as fair value of bitcoin.Just as gold price increases or decreases with change in demand,same would be with bitcoin.Its price is affected either positively or negatively by the market factors.Japan legalized bitcoin and thousands of retailers started accepting bitcoin payment triggering its price.China's ban on ICOs made bitcoin price to fall a little temporarily.Bitcoin's potential is that it deserves more price than what it is today.
There is nothing in this world with which we can determine the fair value of bitcoin. It is because of the reason that the only thing which determines the market price of bitcoin is the demand of bitcoin in the international market. With the increase in demand, the market price of bitcoin also increases. There is no hard and fast rule which can help us in knowing this thing that this is the faro amount. |
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lablab03
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November 11, 2017, 02:28:00 PM |
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I think with coming years if BTC usage in reality not expands the price of BTC can drop more and more by the time.
Am I wrong?
what do you mean bro? Expand the price? ? Maybe you are talking about bitcoin value? Yes according to my knowledge bitcoin will fall if theres a cheao demand of supply but when there's a plenty of supply there a possibility bitcoin surge. I am right? |
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Psynthax
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November 11, 2017, 02:32:13 PM |
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I think with coming years if BTC usage in reality not expands the price of BTC can drop more and more by the time.
Am I wrong?
what do you mean bro? Expand the price? ? Maybe you are talking about bitcoin value? Yes according to my knowledge bitcoin will fall if theres a cheao demand of supply but when there's a plenty of supply there a possibility bitcoin surge. I am right? You may not understand the op's question. He or she mean about the more real usage into the bitcoin will give them more support to the bitcoin price and it will not drop easily just at this time. But not sure about that seems a lot of company already trying to determine the bitcoin as big market speculators. |
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bearexin
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November 14, 2017, 02:08:34 PM |
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It is difficult to determine the fair price of Bitcoin. Why did not have stabilized anymore. It is difficult to say whether the price will be fixed in the future.
Yes, the value of bitcoin can't be fixed because it is a digital currency. It's price is variable and ups and downs occur in the price of bitcoin in each and every second. If we look to the average point of view than the price of bitcoin is increasing day by day and if you want to invest, then you shouldn't waste your time anymore because it's price is increasing day by day. |
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Kiweikoo
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November 15, 2017, 05:13:42 AM |
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Yesterday, BlackRock Strategist Richard Turnill said there’s no inherent right or wrong Bitcoin price, no fair value.
This strategist's comment is so theoretical it's almost a joke. There is a right and wrong Bitcoin price. The test of that is whether anyone in the world would accept a bitcoin for any price above face (right now). Most people would accept bitcoin for a small premium because they'll have faith that the price would soon pass their buy price, but it's only a small amount of premium that would be accepted. Would you buy my 1 bitcoin for $10,000? No. You'd say "that's the wrong price!" This strategist just doesn't know how to value a currency that isn't backed by the GDP of a country. That's all it is. Says the BlackRock strategist who'll definitely say "yes, that's the right price" to anyone who would offer him Bitcoin at say $6,500 right now. Fair value should be a very basic concept for him to grasp. Bitcoin will cost Zimbabweans more than $10,000 right now if bought locally, but there's a lot of considerations priced into that: scarcity against demand being the most obvious, but also the risk that the seller takes (that Bitcoins will be even in more demand and that local currencies are likely to bend even more in a stale economy). When China's exchanges faced closure, similarly the extra risks for owning Bitcoin were priced in, and fair value there was 10% below global market average. Like you said, that's the simple test - will people accept the price? If yes, then that's the right price. Simple, isn't it? I also do not agree with the Turner’s comment. Bitcoin is basically not the legal currency and hence it is a very important factor to control the prices so as to match the people’s choice of right and wrong. The basic factor behind its consistent use is just the control of price and nothing else decentralization simply means that the currency is not supported by the GDP of any nation and hence it requires index eats to rise or fall within a limited level. This helps to maintain the consumer rate and investment market . |
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micleeiu398
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November 15, 2017, 10:07:24 AM |
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It is difficult to determine the fair price of Bitcoin. Why did not have stabilized anymore. It is difficult to say whether the price will be fixed in the future.
Yes, the value of bitcoin can't be stable because it is a digital currency and ups and downs occur in it's price in daily routine. If someone want to invest his money in bitcoin then he/she should invest his money immediately rather than wasting any more time because the price of bitcoin is increasing day by day. Moreover its price will be variable forever, it depends on its demand and importance. |
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Altas
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November 15, 2017, 11:06:33 AM |
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None can fix a fair value for bitcoin, because when the price was around $1000 people find that to be a fair value. When the growth happened in a large scale and reached above $2500, people started to indicate this to be the fair value. So, with bitcoin nothing cam be fixed as a fair value.
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Lampaster
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November 15, 2017, 11:35:57 AM |
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I do not understand what the concept of a fair price. The price is formed by demand and no one may make against the will of the buy bitcoins. If today you pay $ 6,000 and tomorrow pay $ 5000 then this is a fair price. Bitcoin breaks all stereotypes and the issue price is only one of these parameters.
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aencarnaci
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November 18, 2017, 11:27:45 AM |
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We could not determine any particular value as fair value of bitcoin.Just as gold price increases or decreases with change in demand,same would be with bitcoin.Its price is affected either positively or negatively by the market factors.Japan legalized bitcoin and thousands of retailers started accepting bitcoin payment triggering its price.China's ban on ICOs made bitcoin price to fall a little temporarily.Bitcoin's potential is that it deserves more price than what it is today.
There is nothing in this world with which we can determine the fair value of bitcoin. It is because of the reason that the only thing which determines the market price of bitcoin is the demand of bitcoin in the international market. With the increase in demand, the market price of bitcoin also increases. There is no hard and fast rule which can help us in knowing this thing that this is the faro amount. Yes the fair value of the bitcoin is very hard to predict because it keep on changing as the value of the bitcoin is high today then tomorrow the price of the bitcoin will be more than this and then with the time the price and the value of the bitcoin remain changing as the people are aware of the value change and they never say that the bitcoin will ever get down in the price and the value almost all the people are buying the bitcoin and investing in it so the price will be high in the future. |
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hispout
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November 18, 2017, 01:35:15 PM |
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The fair value of Bitcoin is what others are willing to pay for it. Right now people are willing to pay about $7000 for a Bitcoin, so that is what it is truly worth. Bitcoin and most other cryptocurrencies are valued by the free market because no government or business owns them (except for possible institutional investments). To me this means that the price is accurate most of the time. The exceptions would be when a whale pumps the price and then dumps the coin or some other manipulation of the price.
That is just the point. If there is no one willing to pay $7000+ for it, then we will just keep hanging at a particular price and if there is no real demand for it, then people would be willing to give it out at a lower value. As long as there would keep being demand for it as long as we get to a point that it becomes useful then the value is perfect at that moment and that is the worth! In short, there cannot be any fixed value for bitcoins as it is purely people's preferences to afford any price levels to buy and to use. No one could actually judge any sort of fair value for the bitcoins. This is because the rate of single coin entirely depends upon the concept of demand and supply difference. If the people make it demanding currency due to excessive use and if the total number of shares I the open market are more in terms f cryptos, the obviously the price would get higher. So the fair value of the coins is just what is declared by the consumers through usage and investment. |
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dothebeats
Legendary
Offline
Activity: 3640
Merit: 1352
Cashback 15%
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November 18, 2017, 02:30:08 PM |
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That is entirely subjective since different people value the same thing differently, as was the case for bitcoin. I mean, if people are willing to pay $7700 for a single, digital coin that has no intrinsic value, there would also be people willing to pay more than that as long as they get their money back plus profit in the long run. That is how they value their bitcoins, and not really much on how they can use it but how can they benefit more from the potential profit it brings.
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Agostosmori
Member
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November 20, 2017, 07:03:27 AM |
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It is hard to identify bitcoin's fair value right now since people sees it as an asset and thinks that price will go high in the future most people are willing to pay more than it's current price for future investment. Unlike other currencies that has gold to determine it's fair value bitcoin don't have any purely supply and demand.
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centralbanksequalsbombs
Sr. Member
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Activity: 378
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Bitcoin :open immutable decentralized global fair
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November 21, 2017, 05:01:07 AM |
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It is hard to identify bitcoin's fair value right now since people sees it as an asset and thinks that price will go high in the future most people are willing to pay more than it's current price for future investment. Unlike other currencies that has gold to determine it's fair value bitcoin don't have any purely supply and demand.
What about 10 more years in the future? When will central banks in the world, as an aggregate, stop increasing the supply of fiat-currency/credit in the world? |
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bitcoinerjawa
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November 21, 2017, 05:10:36 AM |
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bitcoin prices are very expensive because they are very small and hard to find while very high demand, this becomes the main trigger of bitcoin price increase.
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centralbanksequalsbombs
Sr. Member
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Activity: 378
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Bitcoin :open immutable decentralized global fair
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November 30, 2017, 07:02:16 AM |
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bitcoin prices are very expensive because they are very small and hard to find while very high demand, this becomes the main trigger of bitcoin price increase.
What about its security? What about its open immutable ledger for everyone to see & check? What about its decntralization around the globe? What about its fair(er) distribution? Above, you meant that its scarce in supply when you say "small" right? |
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Younggiant2018
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November 30, 2017, 07:25:29 AM |
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I think with coming years if BTC usage in reality not expands the price of BTC can drop more and more by the time.
Am I wrong?
Probably yes when everything is exhausted and no more transactions to trade. But as of this time, that is to far from reality. All the released value of bitcoin as for the moment is fair. It only matters on the current transactions made by the new investors and the downstream trading that are working for the value of bitcoin |
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