How to grow bitcoin price to $176,190.48?

[ournetinternational]

the scheme that you give seems to you too hope that the price of bitcoin can be very expensive like that, but you should be able to know that there will be no one who wants to buy if the price of 1 bitcoin = $ 176,190.48, because it will be too expensive and the buyer will feel scared because prices could fall suddenly.

Thank you for comment but I think you are no understand me, my proposal is make grow bitcoin  as currency no like an asset.

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[mu_enrico]

Please correct me if I'm wrong, but I think that:

1. The minimum fee can be 1 satoshi/byte, and therefore if 1 BTC = $1,000,000, the fee for a typical Bitcoin transaction, ~250 bytes, can be $2.50

Code:

$1,000,000 / 100,000,000 sats = $0.01 per 1 satoshi

0.01 * 250 = 2.50

2. A miner who finds a block receives all the transaction fees and the block reward (12.5 BTC currently), so if 1 Bitcoin was $1 million, miners could start including transactions without any fees at all because the block reward (millions of USD in that case) would be enough.

1. Theoretically correct, but practically tx with 1 sat fee would be stuck in mempool.
2. So your argument is that the higher the BTC price, miners will include tx with lower fees? Well, what happened with the last bull-run (Dec 2017 - Jan 2018)? Did you see fees increase or decrease?

PS: Anyone care to explain/answer my question will get merit(s). But only for good quality answer of course.


@OP
You don't have to say thanks for every response. And don't do double posting, like this and this. Merge it, if not, someone will report you

[eaLiTy]

Thankyou for reading, I know that I am dreamer, but in order to try answer your main question, I wrot it above, We must design some motivation method in such a way when people receive some satoshis they will have to spend it (without sale it) and they can not will keep saved anymore.
It is only my humble opinion.

It is a dream stuff at this stage of the market, never expect anyone to give out free coins like that and never expect anyone to spend the coins they get, once you spent your coins you cannot do anything about it, hence this is neither a hypothical solution, if anyone has control over the coins you hold what is the security level of bitcoin.  This was a good laugh though . Cheers

[Naida_BR]

How to grow bitcoin price to $176,190.48?

Solution is simple, Putting up bitcoin as flow cash in the economic by rich bitcoin owners
I think a big drawback that stagnates the growth of bitcoin, is major amount of bitcoin are  owned by handful of a  rich person that are waiting some miracle on laws regularization and other handful of people, are waiting for it increase in value without, them having to do anything.

Very very accurate point. I think that this is also the reason why the trading volume of bitcoin is very low (close to stagnant) these days. I think that the majority of bitcoins are accumulated to little actors in the ecosystem, maybe miners, early adopters etc. They just hodling Bitcoins and just waiting for them to increase in value only with Marketing or news.
It is very difficult so this to happen. We need a real usage for cryptocurrencies that will increase the demand for them and eventually their price.

[ournetinternational]

Please correct me if I'm wrong, but I think that:

1. The minimum fee can be 1 satoshi/byte, and therefore if 1 BTC = $1,000,000, the fee for a typical Bitcoin transaction, ~250 bytes, can be $2.50

Code:

$1,000,000 / 100,000,000 sats = $0.01 per 1 satoshi

0.01 * 250 = 2.50

2. A miner who finds a block receives all the transaction fees and the block reward (12.5 BTC currently), so if 1 Bitcoin was $1 million, miners could start including transactions without any fees at all because the block reward (millions of USD in that case) would be enough.

1. Theoretically correct, but practically tx with 1 sat fee would be stuck in mempool.
2. So your argument is that the higher the BTC price, miners will include tx with lower fees? Well, what happened with the last bull-run (Dec 2017 - Jan 2018)? Did you see fees increase or decrease?

PS: Anyone care to explain/answer my question will get merit(s). But only for good quality answer of course.


@OP
You don't have to say thanks for every response. And don't do double posting, like this and this. Merge it, if not, someone will report you

Sorry I can not find the duplicates, and I don't know how to make a merge, could you help me give me more details please.

[Betwrong]

~
2. So your argument is that the higher the BTC price, miners will include tx with lower fees? Well, what happened with the last bull-run (Dec 2017 - Jan 2018)? Did you see fees increase or decrease?

PS: Anyone care to explain/answer my question will get merit(s). But only for good quality answer of course.
~

The fees increased, but I think that was not because the price of Bitcoin increased, but rather because people were trading like crazy during those days (400,000 transactions per day, $20 bln daily trading volume), and traders started including higher and higher fees in order to not wait hours or even days until their transaction was confirmed. If you want to transfer over $10,000 in BTC, $30 fee doesn't seem that big. Looking at the daily trading volume of the time, there could be hundreds of thousands of such transactions during one day. Since miners try to maximize the amount of fee income from the txs they include in their blocks, txs with lower fees were stuck in mempool, because there were always enough txs with higher fees.

[susuberuang]

to be able to grow the price of bitcoin there might have to be good news that could trigger an increase in the price of bitcoin and so many people want to buy bitcoin because without the buyer the price of bitcoin is difficult to rise and of course the price is too expensive, maybe they are usually scared.

[chenille]

to be able to grow the price of bitcoin there might have to be good news that could trigger an increase in the price of bitcoin and so many people want to buy bitcoin because without the buyer the price of bitcoin is difficult to rise and of course the price is too expensive, maybe they are usually scared.

I don't think good news will help, at least some recent good news didn't help. I can compare the situation to 2014 / 2015 when everyone said Bitcoin is dead and so on. Recovery needs time, it's still not sure if we have seen the bottom or BTC will drop further (good opportunity to buy more).
A new financial crisis can be another factor for people to realize what BTC is about. 

[slocker]

to be able to grow the price of bitcoin there might have to be good news that could trigger an increase in the price of bitcoin and so many people want to buy bitcoin because without the buyer the price of bitcoin is difficult to rise and of course the price is too expensive, maybe they are usually scared.

I don't think good news will help, at least some recent good news didn't help. I can compare the situation to 2014 / 2015 when everyone said Bitcoin is dead and so on. Recovery needs time, it's still not sure if we have seen the bottom or BTC will drop further (good opportunity to buy more).
A new financial crisis can be another factor for people to realize what BTC is about. 

Correct for everything it takes time to recover or to come in some stable upraise path. It same for not just bitcoin but all other coin that are involved in this. SO for this year dont think we will see some big improvement in price maybe some small but Im not expecting to see some bigger movement, with good or bad news.

[MoonCrypt]

well, for now, everyone in this space a part to play to make bitcoin market become a real currency
educate people about the technology, once it becomes more impactful in the lives of people then we can talk about price

[Betwrong]

to be able to grow the price of bitcoin there might have to be good news that could trigger an increase in the price of bitcoin and so many people want to buy bitcoin because without the buyer the price of bitcoin is difficult to rise and of course the price is too expensive, maybe they are usually scared.

There is no such thing as an unaffordable price for Bitcoin. If you can't buy the whole coin, you can always buy 0.001, for instance. This is a common misconception among some aspiring crypto adopters, they buy some sh*tcoins costing $0.05 per coin/token and below thinking that the price is cheap, while in fact it's a big price for something which is going to zero.

[Halmater]

I don't expect your scenarios can be realized . If bitcoin reached to another ATH, people would wait for while before investing because of 2018 drop that we have experienced after 2017 ATH.

[nur rochid]

I don't expect your scenarios can be realized . If bitcoin reached to another ATH, people would wait for while before investing because of 2018 drop that we have experienced after 2017 ATH.

indeed it is still quite impossible for the current situation. Such a price might occur if 50% of the world's population uses bitcoin, and that means many countries have legalized bitcoin

[mich]

I don't expect your scenarios can be realized . If bitcoin reached to another ATH, people would wait for while before investing because of 2018 drop that we have experienced after 2017 ATH.

indeed it is still quite impossible for the current situation. Such a price might occur if 50% of the world's population uses bitcoin, and that means many countries have legalized bitcoin

Dude if 50% of the world's population regularly used BTC, then anyone holding onto 1 BTC would be super rich!

[Snaic]

It seems to me that we do not need to try to influence the cryptocurrency price by artificial means. At the end of 2017, the price of Bitcoin was definitely pumped up and we still have tough consequences. Everything should go slowly, on the basis of the usual supply and demand, without sharp price jerks. Then there will be no such protracted falls. In the next decade, such a massive use of Bitcoin is hardly possible.

[bangkit tri]

It seems to me that we do not need to try to influence the cryptocurrency price by artificial means. At the end of 2017, the price of Bitcoin was definitely pumped up and we still have tough consequences. Everything should go slowly, on the basis of the usual supply and demand, without sharp price jerks. Then there will be no such protracted falls. In the next decade, such a massive use of Bitcoin is hardly possible.

as if reaching the climax so that prices go to anti-climax, until now this still continues. for the short term, maybe we can see the price movements have been happy, with all expectations

[strunberg]

I don't expect your scenarios can be realized . If bitcoin reached to another ATH, people would wait for while before investing because of 2018 drop that we have experienced after 2017 ATH.

it can be realized, but not now on.we still have to wait more long time to see bitcoin create new all time high.and also it will not be easy for us,there will many drama in market between fud and positive news.

[ournetinternational]

I don't expect your scenarios can be realized . If bitcoin reached to another ATH, people would wait for while before investing because of 2018 drop that we have experienced after 2017 ATH.

Maybe if you think in bitcoin like an asset, but I am thinking on it like a currency.