Bitcoin Forum
August 16, 2018, 04:16:47 AM *
News: Latest stable version of Bitcoin Core: 0.16.2  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: 14$ last month... because of supply and demand? or Speculation?  (Read 663 times)
adamstgBit
Legendary
*
Offline Offline

Activity: 1904
Merit: 1002


Trusted Bitcoiner


View Profile WWW
September 16, 2011, 03:20:07 AM
 #1

is it really supply and demand or dose it more have to do with Speculation!

1534393007
Hero Member
*
Offline Offline

Posts: 1534393007

View Profile Personal Message (Offline)

Ignore
1534393007
Reply with quote  #2

1534393007
Report to moderator
1534393007
Hero Member
*
Offline Offline

Posts: 1534393007

View Profile Personal Message (Offline)

Ignore
1534393007
Reply with quote  #2

1534393007
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Edward50
Hero Member
*****
Offline Offline

Activity: 602
Merit: 500



View Profile
September 16, 2011, 03:21:14 AM
 #2

supply and demand. Simply, it is such a small market for all the new coins coming into the market.

Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
grod
Full Member
***
Offline Offline

Activity: 154
Merit: 100


View Profile
September 16, 2011, 03:27:09 AM
 #3

There is no revenue associated with the bitcoin ecosystem (yet).  We're running at a burn rate of $1000/hour or so to maintain the network, but income is $0.  All current and previous $ valuation came from people speculating expecting a higher future exchange rate.

Since our market cap comes completely through speculation your answer is "yes."  Speculation caused the demand, and at some point the supply.  And when the two met -- the pricing action.

Cluster2k
Legendary
*
Offline Offline

Activity: 1839
Merit: 1017


www.coincaps.ai


View Profile WWW
September 16, 2011, 03:45:09 AM
 #4

I would say bitcoin's value is based on pure speculation at the moment.  Some people point to the number of transactions and cite that as people "using" bitcoins for something useful, but the vast majority of those are group mining payouts.  When I was mining I would get half a dozen payouts a day, yet I have never purchased anything.

Whether bitcoins are valued at 10c or $10 doesn't impact on their usefulness.  The price should be determined by the value of goods that need to be paid for.  Obviously if people want to trade $1M of goods every day then bitcoins valued at 10c aren't going to suffice as there just wouldn't be enough non hoarded bitcoins around to facilitate the payments.

Some people are betting that bitcoins will be incredibly useful in the future, therefore the price per bitcoin will rise.  However that's pure speculation based on predictions rather than fundamentals.  I hope not too many people are in denial about this.


           ▄▄▄██████▄▄▄
       ▄▄███████▀▀███████▄▄
     ▄██████▀▀      ▀▀██████▄
   ▄████▀▀              ▀▀████▄
  ████        ▄▄███▄▄       ████
 ▐████      ▄█████████▄     ████▌
 █████     ████▀   ▀▀█▀     █████
 █████    ▐███              █████
 █████    ▐███▄      ▄      █████
 █████     ▀████▄▄▄████     █████
 ▐████       ▀███████▀      ████▌
  ▀███▄▄        ▀▀▀       ▄▄███▀
    ▀█████▄▄          ▄▄█████▀
      ▀███████▄▄  ▄▄███████▀
         ▀▀████████████▀▀
              ▀▀▀▀▀▀

                       ████
                       ▄▀██
                     ▄█▀   ▄▄▄▄▄
                   ▄█▀    ███████
                 ▄█▀      ███████
               ▄█▀        ███████
     ▀█▄▄    ▄█▀  ▄█████▄ ███████
        ▀▀█▄█▀    ███████ ███████
  ▄█████▄         ███████ ███████
  ███████ ▄█████▄ ███████ ███████
  ███████ ███████ ███████ ███████
  ███████ ███████ ███████ ███████
  ███████ ███████ ███████ ███████
  ███████ ███████ ███████ ███████
  ▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀ ▀▀▀▀▀▀▀
▀█████████████████████████████████▀
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!