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Author Topic: Why people debate so much about BTC value?  (Read 976 times)
Debonaire217
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January 16, 2020, 01:11:27 PM
 #21

This is mainly because of profit, people tend to continue basing their decision to the conversion of bitcoin to dollar because it is easily could be seen if they could get profit out of it. And merely, to think of basing the BTC value only to BTC, I don't think much of adoption will take place from the start if that happens. Bitcoin will not impart interest from people because in the first place, it will not be an easy investment.

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January 16, 2020, 01:15:13 PM
 #22

But do you think that at this point already, Bitcoin can replace fiat currency?? And also about the value of Bitcoin being compared to usd is just normal. Most of other currency are also being compared to usd. Just like in my country, the exchange between the value of PHP to USD does matter to the country. They always tell it in the news, and it's just the same with bitcoin's value. And Bitcoin is volatile so we always have to monitor it's price movement by comparing it to other currency like fiat.

If we have a debate, we want to prove something to us beliefes or through the paper. Today one of the newest topics is all about the use of bitcoin and the usd, many people think the usd is the most profitable currency for investment, and some people think it is bitcoin, but we have a different perspective how to earn more in bitcoin. The price of the bitcoin is volatile than the fiat or the usd because even they are both affected by the supply and demand still there is a law on different country to stop holding their coins they must be invested on their banks but it is not more profitable than bitcoin because there is no limit to get your money and also like what i've said the price is volatile there is a chance that your investment in bitcoin will get profit or not.

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January 16, 2020, 02:03:27 PM
 #23

This is mainly because of profit, people tend to continue basing their decision to the conversion of bitcoin to dollar because it is easily could be seen if they could get profit out of it. And merely, to think of basing the BTC value only to BTC, I don't think much of adoption will take place from the start if that happens. Bitcoin will not impart interest from people because in the first place, it will not be an easy investment.
And mostly because bitcoin is used for investment. Most of the people who ask these questions are the ones that have invested money on bitcoin that is why they are skeptic and are worried about wht will happen to bitcoin's price. It's not bad that they are asking especially if they are new but it is indeed quite sad that bitcoin is mainly used for its profitability and not how it's supposed to be used in the first place.

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January 16, 2020, 02:11:19 PM
 #24

Probably most people are askign because they are gambling degenerates and impatient.. or they wanna make a trade based on more people's opinions, but they only learn that the best is to make your own research and make the decision based on your own thoughts. Don't delegate responsability on someone else's judgement especially if that one is not an experienced financial advisor who has to obey the fiduciary laws.

Other reason could be that they have some free time and they need something to be excited about. If a newbie pops in and say that BTC will pump soon then their hormone levels will spike up like crazy.  Grin

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January 16, 2020, 02:12:02 PM
 #25

This is a question of every panic investors because they don’t know the current situation of the market that’s why they keep doing that. The biggest challenge for bitcoin is that, people are expecting this technology to replace fiat money when it reality it wont happen. Bitcoin should not be controlled by any government, the purpose is to get away and not for the government to control us again. The debate will never end, most of them is just a nonsense debate.

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January 16, 2020, 02:28:15 PM
 #26

The expectation that bitcoin will replace USD may never see the light of the day, I saw CZ binance said something similar lately, am not surprise he makes mistake sometimes like that on the media. We might see cryptocurrency get more active and we could see government launching their crytpcurrency (stable not volatile), Bitcoin will remain an asset. As the king of the space proven in last 2 years even among the many altcoin, we wont stop discussing the value

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January 16, 2020, 02:35:15 PM
 #27

As you know, shallow people talk about prices; smart people talk about value. There's a fine line between price and value that people always cross when stating why bitcoin should improve.

Since ages, people keep debating - will BTC pump? Will it go to the moon? Will it drop?

I'm asking myself what's the purpose of these questions? BTC wasn't created to compete with the value of USD or other fiat currencies, but to replace them completely. Therefore, if people would just think prices for various stuff in BTC, instead of calculating them in the BTC value compared to USD, all these questions would be irrelevant.

Except that it doesn't work that way, unfortunately--at least on our current times that is. Most merchants and consumers still look at the fiat price of anything that they want, and your 1BTC = 1BTC motto wouldn't do much to sway their decisions on your liking. We're still far from a society/economy wherein USD is overthrown, and if it was overthrown, the likes of CNY, Euro and other currencies out there might just replace it, but I doubt it'll happen sooner.

Think just that 1BTC is equal to 1BTC, not to its value in USD. Take as an example what happens in this forum with the price of VIP account: it was 50BTC since the beginning and it remained 50BTC, no matter the value of BTC in USD. Because the price was calculated in BTC and not in USD.

Remember that you are in a bitcoin forum where 1BTC = 1BTC mentality can and will always work. But apart from that reasoning, the reason why theymos maintained the 50BTC price for these fancy donator perks and status symbol simply because it is to preserve the integrity of that member rank. You wanna have it? Pay for the same price the ones before you paid for and you'll get it.

And even if we would think about the value of BTC in USD: it is 8000 times more valuable than USD!!! It is world's most valuable currency! It actually crushed the USD! So why does it matter if it is 8000USD or 1000USD? Even if it was 1000USD, it would mean it is 1000 times more valuable than the dollar, right? Even if BTC was valued at 2$, it would be twice as valuable compared to USD which is world's most important fiat currenct.

Yes, 8000x more valuable than the USD, but is susceptible to massive volatility and rapid price changes without any notice. That's why merchants are staying the hell away from it. Due to its insane volatility, it makes it hard for them to track profit/losses, and if they ever use a third-party service like Bitpay and the likes, their profits would be reduced even further.



I'd also love to see an economy thriving out of bitcoin and/or other cryptocurrency but the problem is, the minds of the people are still glued to the notion that the USD is superior and the rest of the currencies are irrelevant, that's why we use USD as the standard means of exchange around the world when clearly, any currency existing currently can pretty much do the same.

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January 16, 2020, 02:36:04 PM
 #28

I'm asking myself what's the purpose of these questions?
90% of Bitcoin users see Bitcoin as 1) Store of value, and/or 2) Investment. This means that its value in fiat currency is actually important to 90% of people who have Bitcoin.

BTC wasn't created to compete with the value of USD or other fiat currencies, but to replace them completely
If you could tell me exactly where this premise is written in the Bitcoin whitepaper, I'd appreciate it because i don't quite remember reading that (it's been a while since i read the whitepaper).

And even if we would think about the value of BTC in USD: it is 8000 times more valuable than USD!!! It is world's most valuable currency! It actually crushed the USD! So why does it matter if it is 8000USD or 1000USD? Even if it was 1000USD, it would mean it is 1000 times more valuable than the dollar, right?
Jesus christ.

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January 16, 2020, 02:59:42 PM
 #29

They are talking about bitcoin price because some of them are traders and plus the fact that bitcoin price is really hard to predict. That is why they are trying to share every prediction that they have so that they can use it when they are going to trade. It is very important in trading for you to be able to gain profit.

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January 16, 2020, 03:06:54 PM
 #30

They are talking about bitcoin price because some of them are traders and plus the fact that bitcoin price is really hard to predict. That is why they are trying to share every prediction that they have so that they can use it when they are going to trade. It is very important in trading for you to be able to gain profit.

trading will be much hard if you wont seek for other predictions or to your predictions   .

me myself is not a trader but i cant help my self to monitor and to talk about it via chat and on social media because i want to share what i analyzed and i want someone to be updated on what is the current happenings on bitcoin and its value  .  but that is how it goes to other currency like usd or other assets that has a value like gold  . so why quesiton it  ?

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January 16, 2020, 03:20:39 PM
 #31

The reason being for debate on BTC is other alts are still dependent on it, like everyone knows when BTC pumps other alts follow the same, if BTC dumps other crash massively. By the way there is no any genuine experts here to say the pump and dump of any coin, crypto will get more active and people will get use to it only if there is a twist in the market 😉

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January 16, 2020, 03:28:32 PM
 #32

Most of the time speculations were misunderstood as debate. What we see with different questions were a form of speculation. Whether this make any change in the market or not is secondary. Also the value is the one that grabs the attention of people, so value is much important. Rather than talking about price pumping of altcoins, the growth of bitcoin is much into speculation. This is all because of the growth dependence of altcoins over bitcoin.




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January 16, 2020, 03:36:12 PM
 #33

very speculative as an asset because btc movements look similar to gold, and also speculative against currencies because the USD is the best comparison medium for btc speculators. these two things automatically become fundamental in a continuously rotating value, we cannot rule this out as a main benchmark outside its original function in actual use with all its potential.
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January 16, 2020, 03:58:25 PM
 #34

Most of the time speculations were misunderstood as debate. What we see with different questions were a form of speculation. Whether this make any change in the market or not is secondary. Also the value is the one that grabs the attention of people, so value is much important. Rather than talking about price pumping of altcoins, the growth of bitcoin is much into speculation. This is all because of the growth dependence of altcoins over bitcoin.
He thinks that the people are debating about cryptocurrencies because of their different questions and answers without knowing that speculation is real different from debate. As usual this is a forum in which you have the right and power to post anything or answer any question as long as it is related to everything inside the crypto world. Evwn if you are posting questions and replies to another question it does not mean that you are debating with other members here but you are just stating your opinion and also the facts that you know about crypto world.

 
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January 16, 2020, 04:03:53 PM
 #35

Firstly, because they use bitcoin as an investment tool, they store their assets there that's why they debate so much about the price. On the other hand, we can't deny that Bitcoin will always be compared to other currencies, people will always see the value of bitcoin in their currency. I think this is normal, similar to gold people will still see the price of 100 grams of gold in their own currency.
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January 16, 2020, 04:05:36 PM
 #36

I agree with what the OP said. I mean bitcoin shouldn't be compared to USD because it's another type of currency and it's a virtual one. but when it comes to market, we have to compare that like every stuffs in the world got their prices to buy or sell, so people will think about bitcoin's price again and compare it to any other type of currency depending in which country they're living in it.
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January 16, 2020, 04:05:44 PM
 #37

I understand your point, but it's normal to always think about prices, because we can't live entire based on BTC, at least for now
Your investments are probably from money that you earned in a regular job, receiving in fiat
You need fiat money to buy food, house, gas etc, so it's all based on fiat money, this is simple and this is the reason we always think about price

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January 16, 2020, 04:06:17 PM
 #38

Since ages, people keep debating - will BTC pump? Will it go to the moon? Will it drop?

I'm asking myself what's the purpose of these questions? BTC wasn't created to compete with the value of USD or other fiat currencies, but to replace them completely. Therefore, if people would just think prices for various stuff in BTC, instead of calculating them in the BTC value compared to USD, all these questions would be irrelevant.

Think just that 1BTC is equal to 1BTC, not to its value in USD. Take as an example what happens in this forum with the price of VIP account: it was 50BTC since the beginning and it remained 50BTC, no matter the value of BTC in USD. Because the price was calculated in BTC and not in USD.

And even if we would think about the value of BTC in USD: it is 8000 times more valuable than USD!!! It is world's most valuable currency! It actually crushed the USD! So why does it matter if it is 8000USD or 1000USD? Even if it was 1000USD, it would mean it is 1000 times more valuable than the dollar, right? Even if BTC was valued at 2$, it would be twice as valuable compared to USD which is world's most important fiat currenct.
Many people only discussing about bitcoin when price is growing up, every day in social media platform like twitter and Facebook always have some one prediction with bitcoin back above $10k or higher price during bitcoin on the top price, but when bitcoin have down where are they, what happen with their prediction about bitcoin price and why back with lower.
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January 16, 2020, 04:09:01 PM
 #39

Most of the time speculations were misunderstood as debate. What we see with different questions were a form of speculation. Whether this make any change in the market or not is secondary. Also the value is the one that grabs the attention of people, so value is much important. Rather than talking about price pumping of altcoins, the growth of bitcoin is much into speculation. This is all because of the growth dependence of altcoins over bitcoin.
He thinks that the people are debating about cryptocurrencies because of their different questions and answers without knowing that speculation is real different from debate. As usual this is a forum in which you have the right and power to post anything or answer any question as long as it is related to everything inside the crypto world. Evwn if you are posting questions and replies to another question it does not mean that you are debating with other members here but you are just stating your opinion and also the facts that you know about crypto world.
therefore everyone's views differ, speculation and the way we look at other people's speculations must be different.
This forum is indeed a place where people gather with it certainly will happen, and I think it is still normal to happen in this place because everyone will not be the same in his thinking.

 
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January 16, 2020, 04:25:54 PM
 #40

Well, that is because they want a change, and what I mean by that is they want to compare its price every time to remind themselves that they could get back the profits they lost, which technically they didn't lost, it's just the price went down so the value of bitcoin in fiat changes, that is the thing that most of us should put in our head, because even if it dumps or pumps, 1 bitcoin will be 1 bitcoin. I would understand why the most of us here debates about it if you hold 1 bitcoin in your wallet then suddenly it became 0.95 when the price decrease, but it doesn't.

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