JohnDow1968 (OP)
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Activity: 99
Merit: 10
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January 21, 2014, 11:08:56 PM |
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What factors do you think are most important in todays BitCoin value.
I think the trading pair BTC/us$ is still a good indicator if it comes to purchase power.
BitCoin now somewhat stable @~$900 is caused by?:
A few keywords...
- Law of demand and availability?
- The free market...
- Exchanges...
- Local BTC.
- Mining Hardware prices / availability.
- What is the influence of energy/power kWh price to keep a miner on-line?
- Network hash-rate.
- Services like bit-pay.
- "anonymity"
- usefulness
- market adoption.
- the community...
your thoughts and input pls.
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HairyMaclairy
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Activity: 1414
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Degenerate bull hatter & Bitcoin monotheist
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January 21, 2014, 11:14:48 PM |
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Bots
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John Winkelman
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January 21, 2014, 11:22:44 PM |
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Bots
:-) What if 10TH 5nm ASIC's cost about $10, use very little (solar) power... would we still see $1000+ or fail miserably? What about the Winkelvoss ETF... |
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topshot
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January 22, 2014, 12:01:35 PM |
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Price is predominantly determined by speculation and value.
Speculation by buyers wanting to get in early offering higher and higher prices for bitcoins offered for sale....
Value mostly in the services and goods that can be bought and sold with bitcoin. The more services and goods which can be bought and sold with bitcoin the more people will buy bitcoin using fiat which drives the usd/btc correlation. Other value is in its unique properties such as sending transactions for next to nothing, holding your own money and being your own bank etc...
What you need to do is remove yourself from the $. Stop thinking value is how much something is according to $. That's just showing the correlation of the increasing purchasing power of BTC and the decreasing purchasing power of the USD (+ some speculators).
The value of BTC is what you can do with it which is increasing everyday but needs more people to encourage and spread its use.
Here's an idea: When you go to buy something, offer to pay for it in BTC at a higher price than it would be in USD. Get them setup and charge them a fee for doing it. You'll increase the value of BTC by adding another merchant to the pool of BTC merchants.
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Wilhelm
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January 22, 2014, 01:29:57 PM |
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FUD  |
Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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Undone
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January 22, 2014, 03:42:56 PM |
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The value of BTC is what you can do with it... Maybe. But in the medium term, adoption will be really be determined by one thing in my opinion - whether or not bitcoin proves itself as a competent store of value. So the trading value has to show a solid upward trend. For this to happen, more and more people have to part with their fiat at higher and higher bitcoin prices at higher and higher volume for adoption to truly happen. Here's an idea: When you go to buy something, offer to pay for it in BTC at a higher price than it would be in USD. Get them setup and charge them a fee for doing it. You'll increase the value of BTC by adding another merchant to the pool of BTC merchants.
Merchant adoption isn't the big hurdle to bitcoin. Proving itself capable of being worth more than its buy-in amount of fiat at a future date is. |
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BitchicksHusband
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January 22, 2014, 06:32:54 PM |
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Coinbase.
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1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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skivrmt
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January 22, 2014, 08:19:47 PM |
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What factors do you think are most important in todays BitCoin value.
Bitcoin's value is simple. Super simple. It's value is simple what someone is willing to buy 1 Bitcoin for. Like gold, Bitcoin by itself is fairly useless. I posted this before, but you can't build with gold or BTC, neither keep you warm, you can't eat them, etc etc. It's a supply and demand and future value. What factor contributes to it's value is a whole other can of worms. Accessibility. Ease of use. But by far is potential future profit which is driving the Bitcoin value. |
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JohnDow1968 (OP)
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January 23, 2014, 12:51:29 AM |
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What if 10TH 5nm ASIC's cost about $10, use very little (solar) power... would we still see $1000+ or fail miserably?
What about the Winkelvoss ETF...
Good question. Anybody... ? What market do you think is the price setter right now? |
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frank754
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January 23, 2014, 08:23:56 PM |
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Another thing I see id that the Bitcoin value has been stagnant the past week or so. I stopped buying as it's going up less than the interest on my bills, so what event(s) do you see for it making decent rises again, like up into the $1200 USD range? Is this just a lull or will it be a very slow rise, if at all, over a longer period of time?
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gerbill
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January 23, 2014, 08:28:45 PM |
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BitCoin price determined by venturesome people who doesn't have casino allowed in their country. People need to gamble!
Also probably by drugs and guns market
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Lloydie
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January 23, 2014, 10:23:07 PM |
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What factors do you think are most important in todays BitCoin value.
I think the trading pair BTC/us$ is still a good indicator if it comes to purchase power.
BitCoin now somewhat stable @~$900 is caused by?:
A few keywords...
- Law of demand and availability?
- The free market...
- Exchanges...
- Local BTC.
- Mining Hardware prices / availability.
- What is the influence of energy/power kWh price to keep a miner on-line?
- Network hash-rate.
- Services like bit-pay.
- "anonymity"
- usefulness
- market adoption.
- the community...
your thoughts and input pls.
Ordinary investors. The 99.9% who don't know how to, don't have the time to or don't understand bitcoin. Setup investment trusts as a first step to get 1% of global wealth investing into bitcoin. The value will skyrocket. |
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HairyMaclairy
Legendary
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Activity: 1414
Merit: 2174
Degenerate bull hatter & Bitcoin monotheist
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January 23, 2014, 11:05:15 PM |
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What if 10TH 5nm ASIC's cost about $10, use very little (solar) power... would we still see $1000+ or fail miserably?
What about the Winkelvoss ETF...
Good question. Anybody... ? What market do you think is the price setter right now? The only thing that would happen is that network hashpower would go to the moon. We would be talking exahash / second. |
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sakkosekk
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January 24, 2014, 01:14:27 AM |
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Hamsters
hamster powered coin |
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shawshankinmate37927
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January 24, 2014, 01:27:07 AM |
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What factors do you think are most important in todays BitCoin value.
I think the trading pair BTC/us$ is still a good indicator if it comes to purchase power.
BitCoin now somewhat stable @~$900 is caused by?:
A few keywords...
- Law of demand and availability?
- The free market...
- Exchanges...
- Local BTC.
- Mining Hardware prices / availability.
- What is the influence of energy/power kWh price to keep a miner on-line?
- Network hash-rate.
- Services like bit-pay.
- "anonymity"
- usefulness
- market adoption.
- the community...
your thoughts and input pls.
Supply and demand. |
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." - Henry Ford
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odolvlobo
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January 24, 2014, 03:41:54 AM |
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Hamsters
hamster powered coin Hamstercoin -- mined by hamsters |
Join an anti-signature campaign: Click ignore on the members of signature campaigns.
PGP Fingerprint: 6B6BC26599EC24EF7E29A405EAF050539D0B2925 Signing address: 13GAVJo8YaAuenj6keiEykwxWUZ7jMoSLt
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cr1776
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Activity: 4018
Merit: 1299
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January 24, 2014, 12:11:08 PM
Last edit: January 25, 2014, 01:19:27 AM by cr1776 |
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What factors do you think are most important in todays BitCoin value.
I think the trading pair BTC/us$ is still a good indicator if it comes to purchase power.
BitCoin now somewhat stable @~$900 is caused by?:
A few keywords...
- Law of demand and availability?
- The free market...
- Exchanges...
- Local BTC.
- Mining Hardware prices / availability.
- What is the influence of energy/power kWh price to keep a miner on-line?
- Network hash-rate.
- Services like bit-pay.
- "anonymity"
- usefulness
- market adoption.
- the community...
your thoughts and input pls.
Proper capitalization of the word "bitcoin"? |
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globalgaurav
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January 24, 2014, 06:09:47 PM |
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What factors do you think are most important in todays BitCoin value.
I think the trading pair BTC/us$ is still a good indicator if it comes to purchase power.
BitCoin now somewhat stable @~$900 is caused by?:
A few keywords...
- Law of demand and availability?
- The free market...
- Exchanges...
- Local BTC.
- Mining Hardware prices / availability.
- What is the influence of energy/power kWh price to keep a miner on-line?
- Network hash-rate.
- Services like bit-pay.
- "anonymity"
- usefulness
- market adoption.
- the community...
your thoughts and input pls.
Supply and demand. +1  |
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johnyj
Legendary
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Activity: 1988
Merit: 1012
Beyond Imagination
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January 25, 2014, 12:15:11 AM |
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The exchanges
Due to that bitcoin does not have any merchant backing (e.g. they don't provide a fixed bitcoin price for their products), the exchanges will be the only place decide its value
However, if bitcoin get more adoption and merchant change their bitcoin prices for goods less often, then the exchange rate will have less and less volatility
For example, if the exchange price plunged by half due to a large sell order, but merchants around the world still sell same goods at same bitcoin price, it means all those goods' price will be cut by half if pay with bitcoin. Then people will mass buy bitcoin on exchanges in order to buy those goods at a discounted rate, that will bring the exchange rate back
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