Why Bitcoin may now level off...

[Coinseeker]

It's interesting, most people are only interested in "making dough" and completely miss the real benefits and implications of bitcoin across the board of human life on earth. That said, it's not about the value of bitcoin, it's about the non value of FIAT. What a high price in USD means for bitcoin, is not that bitcoin is great, but that FIAT sucks.

No, it means that there is money to be made and people like to gamble.  The world didn't need Bitcoin to know that fiat sucks.  No one is taking anything away from the disruptive tech but to assume that the only issue with our global monetary system is "Government Fiat", and Bitcoin or any single crypto-currency can solve all our problems, is delusional and ignores the real issues with our bankrupt system.  It's going to take a lot more than Bitcoin to solve our issues.

[1715368499]

1715368499

[utarinues]

OP makes excellent points.  I've raised them in the past myself.  Bitcoin has already sold itself as a "whole" Bitcoin, with all the fancy "coin" images on every new story and the fact that it wasn't changed to mBTC sooner.  All news pricing is in whole Bitcoins.  People don't want to buy fractions of something.  They are not stupid.  Either some really big money is going to jump on board and buy up BTC or it could be a long, stagnant road ahead.  Since the Bitcoin community still to this day, can not come to consensus on how to denominate Bitcoin, I doubt it will ever happen.  Good thing there are alt-coins.  My $0.02

Satoshi, the smallest unit. If you use BTC, mBTC or whatever, it is up to you.

[rupy]

The real problem is energy, so lets not go there but stick to global trade crutches.

For me it's not about value in terms of how much material crap you can buy for it, but how many governments it indirectly overthrows.

We need big changes soon or it will probably be famine and war I'm afraid, not for us maybe, but for our children.

[Coinseeker]

The real problem is energy, so lets not go there but stick to global trade crutches.

For me it's not about value in terms of how much material crap you can buy for it, but how many governments it indirectly overthrows.

We need big changes soon or it will probably be famine and war I'm afraid, not for us maybe, but for our children.

"How many governments it indirectly overthrows"?  Where do people come up with such delusional crap? 

[rupy]

Hehe, what do you think happens to a government without currency?

[Coinseeker]

Hehe, what do you think happens to a government without currency?

Is this a serious question?

[traderCJ]

I'm here for the same reason most people are, to make money.  If I want to change the world, I'll go work on something Ripple related.  I just don't view Bitcoin as a currency at all, let alone a world currency.  I view it as speculative commodity that sure knows how to rake in the dough.

Yeah, you're right .. no need to poke around Bitcoin anymore.  No more world-changing here, no sir.  And yeah, it's not really a currency.  Just a bunch of BS that speculators have dumped money into, like all other cryptos except for Ripple.  No real utility.  Nothing more than hype and speculation.  Now, Ripple on the other hand ..

Really man, I can see that it IS all about money with you.  You're basically lying to serve your own ends.  You don't actually believe what you wrote.  It's a reality you would like to create because it benefits your bottom line.  We know you own a bunch of Ripple.  We know you benefit from it gaining acceptance.  Great.  I think many cryptocurrencies can live in parallel and feed one another.  Now off with you.

[johnyj]

Many people won't buy one share of google's stock either. Money is not distributed evenly, large investors buy hundreds or thousands of coins daily, while small investors might just skip it altogether

[pand70]

This have been discussed many times already and that's why there are so many people around suggesting to move the price to mbtc.

[rocks]

It's interesting, most people are only interested in "making dough" and completely miss the real benefits and implications of bitcoin across the board of human life on earth. That said, it's not about the value of bitcoin, it's about the non value of FIAT. What a high price in USD means for bitcoin, is not that bitcoin is great, but that FIAT sucks.

The people interested in "making dough" keep selling for short-term profits and miss out on multiple stages of exponential ramp ups. Yes they are making really good money, but it is the people who see the real benefits and who hold long term who are making the real money.

[seleme]

Bitcoinity made a first step, they just changed to mBTC as default.

[Syke]

Bitcoinity made a first step, they just changed to mBTC as default.

With an option to change it back. Nicely done.

[BittBurger]

What exactly is your argument against the price of bitcoin rising further to $2000 and beyond? I don't see why the exchanges couldn't sustain higher prices, as long as they can handle the volume and the increased amount of fiat on the books. Your point about Gold also doesn't make any sense whatsoever to me. An ounce of Gold is sitting at $1200 right now, so what? It doesn't explain or say anything at all, what the hell is your point?  

Go back and read the first post I wrote on the first page.  Everything you just asked me was already asnwered there.  I already explained in detail, in two different posts, why I am concerned that the price won't shoot up past $2,000.  It has nothing to do with the 'exchanges being able to handle' the volume.  Where is that coming from?  Gold a commodity that's been around for thousands of years, is considered by nearly *everyone* to be more valuable than Bitcoin, is well known to be purchasable in divisible amounts, and yet here it sits at $1200?  Yet Bitcoin is going to $100,000?  Im asking who is going to spend the money to get it there.  Not sure what's so hard to comprehend about my question...

[gla22]

Bitcoin can increase as long as new adoption continues, as soon as adoption declines the value of bitcoin will decline to near its intrinsic value. That being said is it possible to find data on how many new wallets are being created/ how many new people are joining bitcoin?

[Miz4r]

What exactly is your argument against the price of bitcoin rising further to $2000 and beyond? I don't see why the exchanges couldn't sustain higher prices, as long as they can handle the volume and the increased amount of fiat on the books. Your point about Gold also doesn't make any sense whatsoever to me. An ounce of Gold is sitting at $1200 right now, so what? It doesn't explain or say anything at all, what the hell is your point?  

Go back and read the first post I wrote on the first page.  Everything you just asked me was already asnwered there.  I already explained in detail, in two different posts, why I am concerned that the price won't shoot up past $2,000.  It has nothing to do with the 'exchanges being able to handle' the volume.  Where is that coming from?  Gold a commodity that's been around for thousands of years, is considered by nearly *everyone* to be more valuable than Bitcoin, is well known to be purchasable in divisible amounts, and yet here it sits at $1200?  Yet Bitcoin is going to $100,000?  Im asking who is going to spend the money to get it there.  Not sure what's so hard to comprehend about my question...

You're comparing apples to oranges. Gold is not worth $1200, an ounce of Gold is worth $1200. Comparing that to the price of 1 bitcoin is just silly. It just amazes me how you don't seem to be able to wrap your head around this point. There are only 12 million bitcoins right now and there are much more than 12 million ounces of Gold out there. Your argument would have made more sense if you would compare the market cap of Gold to that of Bitcoin. And if you do that you'll find that Bitcoin's market cap isn't even at 0.2% of that of Gold right now. So yeah, plenty of room to go up for Bitcoin.

[theonewhowaskazu]

who will be interested in fiat when it takes a thousand dollars to buy a bigmac?

I don't know, they're apparently still interested when it takes hundreds of cents to buy a gallon of gas...

[spike420211]

Bitcoinity made a first step, they just changed to mBTC as default.

which is annoying

edit:nvm, they allow u 2 chg it

[theonewhowaskazu]

Hehe, what do you think happens to a government without currency?

It has to adopt significantly less dubious policies and not attempt to secretly steal from people?

[antimattercrusader]

But 90% of the public has no idea they can do this, and Im not even certain that someone buying 0.00004 BTC at $10,000 is going to push the price up at all.  

This is going to change, even now bitcoinity has switched to mBTC, and the price is $1.05. The change will come from BTC businesses/services, and the public will fall in line.

Can someone please explain to me where the money would come from?  Even if India gets on board ... how the heck will their participation affect price?  

Institutional investors. Also, bitcoin awareness is till extremely low. Participation is even lower, there is a massive upside on this should nothing change (perception, legal action, "new" bitcoin etc).

Hehe, what do you think happens to a government without currency?

It has to adopt significantly less dubious policies and not attempt to secretly steal from people?

HA! +1

[rupy]

Hehe, what do you think happens to a government without currency?

Is this a serious question?

Is this a serious question?