[2017-12-21]Bitcoin: Should we care about its price?

[gabbie2010]

There are growing consign about the media not covering  enough information about falling price of bitcoin according to this report, there should be detailed report of how bitcoin price is fairing in the market which should capture the overall price movement of bitcoin.
http://www.bbc.com/news/business-42435995

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[xPPx]

If everyone used BTC as a store of value instead of trading everyday, we wouldn't hear all of the complaints about price/transaction fees. There are other coins for that. BTC should be HODLed and used for HUGE purchases. These tactics would minimize price swings and transaction fee complaints...

[Lancusters]

If everyone used BTC as a store of value instead of trading everyday, we wouldn't hear all of the complaints about price/transaction fees. There are other coins for that. BTC should be HODLed and used for HUGE purchases. These tactics would minimize price swings and transaction fee complaints...

We are compelled by circumstances to use such tactics but this tactic is disastrous for bitcoin. It seems to me that bitcoin had the opportunity for their development must be the turnover of bitcoin. It was invented not for long term savings. The goal of bitcoin is independent of the state currency. I am sure that the present drop in the price of bitcoin is temporary. But if it will hold bitcoin this could become a trend.

[buwaytress]

If everyone used BTC as a store of value instead of trading everyday, we wouldn't hear all of the complaints about price/transaction fees. There are other coins for that. BTC should be HODLed and used for HUGE purchases. These tactics would minimize price swings and transaction fee complaints...

We are compelled by circumstances to use such tactics but this tactic is disastrous for bitcoin. It seems to me that bitcoin had the opportunity for their development must be the turnover of bitcoin. It was invented not for long term savings. The goal of bitcoin is independent of the state currency. I am sure that the present drop in the price of bitcoin is temporary. But if it will hold bitcoin this could become a trend.

I do admit I keep as much Bitcoin as possible, slowly trying to accumulate, but that's no more different than putting aside money for savings, in the face of an uncertain future and well... retirement. But to use it simply as a store of value? That would require me converting all my savings, all my holdings, to Bitcoin and just storing them in a wallet never to be used until my expected price arrives?

More importantly, that would require me to stop earning in Bitcoin. It was difficult enough to build up almost two years of contacts, freelancing, convincing people to switch over from Paypal or similar to pay me in Bitcoin. Difficult enough to convince others I could also pay them in Bitcoin. Give that all up, and what, suddenly tell people I will now encourage some other alt?

This is the nature of organic growth. Scalability issues brought to the fore because conditions have forced them to emerge. Necessity is the mother of invention, and Bitcoin must remain inventive to remain as the new way we pay each other money. This is for its own good.

[1Referee]

BTC should be HODLed and used for HUGE purchases. These tactics would minimize price swings and transaction fee complaints...

Bitcoin with LN enabled allows people to choose what they want. You can use Bitcoin as currency to purchase small daily needs, tip each other, etc, but you could also choose to hoard Bitcoin and to later decide what you want to do with your coins. LN is something that you aren't forced to use, just like Segwit isn't something that you are forced to use. Overall stability will increase as soon as large holders dump their coins on thousands of buyers that will then be holding these coins instead of just one or two entities. It's something that right now is happening already. Current selling pressure comes mainly from those large holders, where till this point the demand has pushed the price back up again, so we'll see how long the demand can keep this up.

[Taki]

When I just joined to the forum two years ago, I have heard the opinion that we need to buy bitcoin and stay strong to everything that is happening to it, no matter raise or fall, it is like a simple strategy to buy cheap and forget. It really works and other people's opinions are just making a holder confused and not sure. This fall is temporary, there is no reason for panic.

[BitHodler]

Of course we should. Regardless of how much value we add to Bitcoin's decentralized nature, the value in the end accounts for at least 50% of the incentive to keep hodling for long periods of time.

The far majority of the people that are getting interested in Bitcoin, is all related to its speculative nature. As time goes by, and they get comfortable in the crypto world, they will start appreciating the technical aspects more and more.

I started out by making a short term investment with the only intention of selling my coins later on. Not long after that, I fell in love with how Bitcoin cuts out any central authority, and more importantly, banks and governments.

I haven't cashed out anything till this day, and certainly won't do so until we at least reach the $50,000 mark.

[CryptoBry]

BTC should be HODLed and used for HUGE purchases. These tactics would minimize price swings and transaction fee complaints...

Bitcoin with LN enabled allows people to choose what they want. You can use Bitcoin as currency to purchase small daily needs, tip each other, etc, but you could also choose to hoard Bitcoin and to later decide what you want to do with your coins. LN is something that you aren't forced to use, just like Segwit isn't something that you are forced to use. Overall stability will increase as soon as large holders dump their coins on thousands of buyers that will then be holding these coins instead of just one or two entities. It's something that right now is happening already. Current selling pressure comes mainly from those large holders, where till this point the demand has pushed the price back up again, so we'll see how long the demand can keep this up.

There is a raging issue on Bitcoin right now and this is the one that is importantly affecting its price movement and that is the problem of scalability which resulted into a bidding type of setting the transaction costs or fees -- something which has become already very unacceptable to many including me. I am then wondering when will this Lightning Network be fully implemented so that Bitcoin can be freed from a seemingly gloomy yet temporary outlook?

[odolvlobo]

If everyone used BTC as a store of value instead of trading everyday, we wouldn't hear all of the complaints about price/transaction fees. There are other coins for that. BTC should be HODLed and used for HUGE purchases. These tactics would minimize price swings and transaction fee complaints...

Don't you think we should go even farther and remove the ability send and receive bitcoins completely? That would get rid of all this transaction nonsense and make it 100% store of value.

[MoneyMotivatesMe]

Yes, because that is the reason why many people is patiently holding it.

[bitcoinisbest]

Yes, because that is the reason why many people is patiently holding it.

I think major factor that is driving today Btc in the world markets is due to its price . If its price would not be high as it is it would have not being covered in the all the news channel everywhere in the world . I think price plays the major role today to make where Bitcoin has reach today .

[tauruscointeam]

It's depend on situation in the market, up and down comes in the market that decide you invest your money in it or not.