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Question: Whether your a bitcoin cosumer, merchant, miner, or investor.  What's a fair value for bitcoins?
$20+
$15+
$10+
$5+
$1+
Less than $1

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Author Topic: What Price Do You Want Bitcoin To Be?  (Read 1176 times)
ggc
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July 06, 2011, 12:30:10 AM
 #1

As a merchant who relies on the stability of bitcoin to make a living.  I can care less at what price bitcoin is worth as long as it's stable.  However, I do feel it should be $15+.  People who have bitcoins need to ally up so we can control the prices of bitcoins and set a fair standard.  Those who sell bitcoins at less than the market rate will only ruin the prices for the rest of us.
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Alex Beckenham
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July 06, 2011, 12:32:12 AM
 #2

$18.42

How are you going to control prices exactly?

ggc
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July 06, 2011, 12:35:10 AM
 #3

$18.42

How are you going to control prices exactly?


Start a coalition of bitcoin holders who pledge to sell bitcoins at no less than a set rate.  In the end, everybody wins if we can set a fair value and stabilize the market.
bitbetter
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July 06, 2011, 01:08:10 AM
 #4

$18.42

How are you going to control prices exactly?


Start a coalition of bitcoin holders who pledge to sell bitcoins at no less than a set rate.  In the end, everybody wins if we can set a fair value and stabilize the market.

Perhaps instead of agreeing on a set rate, you should just encourage the people who have bitcoins to use them. This will make BitCoins much more valuable than $15 a pop.

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Alex Beckenham
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July 06, 2011, 01:13:49 AM
 #5

$18.42

How are you going to control prices exactly?


Start a coalition of bitcoin holders who pledge to sell bitcoins at no less than a set rate.  In the end, everybody wins if we can set a fair value and stabilize the market.

Okay sure, set it at $100 per coin and I will join your coalition.

(No I'm not serious)

Electrongolf
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July 06, 2011, 01:48:26 AM
 #6

Price is irrelevant. If you are going to sell something, it doesn't matter what the price is. As long as people have enough coins to afford your product.

There is a lot of focus on price, which is pointless to think about, until there is something to determine whether that price is justifiable. There isn't any specific use for BTC to determine it's value. It's all based on emotions.

That being said, the lower the price the better, because people are more likely to spend if the perceived value is low.


ggc
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July 06, 2011, 01:53:38 AM
 #7

$18.42

How are you going to control prices exactly?


Start a coalition of bitcoin holders who pledge to sell bitcoins at no less than a set rate.  In the end, everybody wins if we can set a fair value and stabilize the market.

Perhaps instead of agreeing on a set rate, you should just encourage the people who have bitcoins to use them. This will make BitCoins much more valuable than $15 a pop.

bitbetter, I have to agree with you, people with bitcoin should use them.  It will stimulate the bitcoin economy and the perceived value of bitcoin will be more than what they are worth no matter at what price.
ggc
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July 06, 2011, 01:56:06 AM
 #8

$18.42

How are you going to control prices exactly?


Start a coalition of bitcoin holders who pledge to sell bitcoins at no less than a set rate.  In the end, everybody wins if we can set a fair value and stabilize the market.

Okay sure, set it at $100 per coin and I will join your coalition.

(No I'm not serious)


Alex, I won't sell my btc unless they're $100 if you do the same lol Wink
Alex Beckenham
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July 06, 2011, 02:17:00 AM
 #9

$18.42

How are you going to control prices exactly?


Start a coalition of bitcoin holders who pledge to sell bitcoins at no less than a set rate.  In the end, everybody wins if we can set a fair value and stabilize the market.

Okay sure, set it at $100 per coin and I will join your coalition.

(No I'm not serious)


Alex, I won't sell my btc unless they're $100 if you do the same lol Wink

I already decided long ago that that was my price. That part I'm serious about. The part that I'm not serious about is forming some kind of pact.

Also, if you agree not to sell for less than $100, can you sell it for more? Much more?

MKW2012
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July 06, 2011, 04:30:19 AM
 #10

$15+

I do feel Bitcoins are undervalued at this point, but I wouldn't be surprised if there trading at $10 in the short-term based on the technicals.
fm1234
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July 06, 2011, 07:06:19 AM
 #11

How would a theoretical coalition stop non-members from selling at whatever rate they wanted?   
davidk
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July 06, 2011, 07:35:54 AM
 #12

i like that
MtRev
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July 06, 2011, 07:42:32 AM
 #13

Would be nice if it stayed at $100 per 1.0 BTC

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nemo
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July 06, 2011, 08:08:15 AM
 #14

I'm a small time miner/hoarder and I picked $10
kano5003
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July 06, 2011, 08:09:58 AM
 #15

As soon as it gets low BAM 100 Bitcoins my way!!!
TheMalon
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July 06, 2011, 08:43:49 AM
 #16

My 0.01 BTC:

As I can see Bitcoin doesn't normally need a price, at least not anymore ...
Bitcoin needed a price to get the attention of the people. Now that it has enough attention its time to evolve.
Stephen Gornick
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July 06, 2011, 09:42:32 AM
 #17

As a merchant who relies on the stability of bitcoin to make a living.  I can care less at what price bitcoin is worth as long as it's stable.

Is this because the prices you are setting are based on the exchange rate?   Automation will likely be necessary so that the price presented to a customer or trading partner is obtained from either the spot market price or based on a weighted average.  The price then would likely need a short expiration before payment would need to be received.  

To further lessen the exchange rate risk, the payment received can then be hedged with a countering trade on an exchange so that there is only a short amount of time that the merchant is exposed to any exchange rate risk.

Of course, a stable currency exchange rate would make things easier.  When financial instruments such as options are more widely available for bitcoin and there is a wider participation with other currencies globally so that moves in a single market won't have as much impact on the currency as a whole, then the fluctuations we're seeing now should start to lessen.

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