Even 1 cent for bitcoin may be too expensive

[fxsurfer]

One unit of Bitcoin had the same properties when it was worth 1 cent, when it was worth 20,000 dollars and now when it is worth 7,000 dollars. Meaning, there is no pivot point derived from Price-to-Book Ratio, Price-to-Earnings Ratio, Bond Ratio, Interest Rate or Balance of Payments like in stocks, bonds or fiat currencies to determine whether its current price is cheap or expensive. Since it is not legally connected to property like fiat money is, where we know exactly how many units of newly created money corresponds to a property that a borrower offers as a way for a bank to secure the loan, even 1 cent for bitcoin may be too expensive. So believing that the price will go up just because someone in the past was willing to pay up to 20,000 dollars for one bitcoin is just wishful thinking. In a Tulip mania people paid as much as 100,000 florins for a tulip bulb. To put this in perspective, the value of a suit of clothes was about 80 florins. Thus, past prices are completely meaningless when discussing either value or future prices of something.

[Thao_Mama]

Because everybody still buy BTC at 7000$
It's not expensive!

[HatakeKakashi]

Bitcoin will not become 1 cent in the next few years for sure because even the price become very low I think the stable price will become 2 to 3 digit. $7000 is the price of the bitcoin and that's very expensive compared to the price last few years ago.
 Maybe we want to go back bitcoin to the price of 20k dollars so that's most of us see the price is very cheap even the reality is very high.

[pooya87]

just because you don't understand how supply and demand works it doesn't mean the price is high.

and in the end if you really thought 1 cent was too much for bitcoin and if you really thought it is in fact in a gigantic bubble then you wouldn't have been here now saying this stuff!
an looking at your post history you have been trying to spread FUD ever since price started falling which leaves me with only one conclusion that you are trying to short bitcoin and make more money.

[Taras]

One bitcoin today is more versatile than one bitcoin way back when it was worth one cent. Today, you can use segwit, LN, pay-to-script-hash, CLTV, etc. - those are not properties that bitcoins had in the past.

Also, these comparisons to the tulip mania are always utterly ridiculous. To make more tulips, all you have to do is plant tulips, acres and acres of them if you want, all you need is land and time. To make more bitcoins, you need competitive electricity and expensive hardware, and we know for a fact that the rate of bitcoin creation is going to decrease over time because of halvenings. Tulips on the other hand have no magic rule that says you can't grow too many. Pretending the two situations are similar is just silly.

[kier010]

why buy whole if you can buy a portion of it. if you don't have enough money then buy what you can afford.