Why people debate so much about BTC value?

[Mahanton]

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.

Being optimistic towards BTC isn't bad but haven't you consider on the entire supply of BTC for you to talk about replacing USD? Hence,
this was created for solely on having a p2p transaction without 3rd party intervention and it isn't even expected for this innovation to grow up this big
when it comes to support and popularity.People do keep on debating about btc value due to its market unpredictability and come to think
on what if btc separated into its usd value? where it should tagged up?

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[Reid]

Then why the hell is bitcoin being converted to USD on such often times and why not USD be converted to bitcoin.
That is the case here.

We still have the traditional thinking that USD is the main basis of all currencies.
Even commodities.
1oz of gold = $1523
1 barrel of oil is equal to whatever USD.
It became the national conversion of everything into paper. It sounds odd but that is the case now.
With that, we could say it is still more valuable.
Do not confuse price with value my friend.

[BChydro]

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

The majority in the market are looking to make profit as no one is confined to this market as a religion or a cult but these topics about pump are irritating .

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.

Since you are of the impression that bitcoin is meant to replace fiat currencies, you have to take a realistic look at the development of bitcoin too, it is not even remotely possible to take over as a replacement but it is a store of value and our development is moving in that direction. So the idea of bitcoin changing the concept of fiat currency is just a wet dream in 2020  .

[vintages]

It's simply because people won't be involved in anything that won't give them profits. Profit is just the main goal here, they just want to make money off it.
This also explains why ICOs came to be, à profit earning strategy.

Also, those who are holding Bitcoin can't keep having the fear that their income will suddenly go from being thousands to zero. As Bitcoin has not been officially recognised, they fear anything can happen.

[target]

Prices in USD matter because its where you can profit when you trade BTC and USD. You can buy and sell while BTC price fluctuates. Users asking about prices and debates what the price may be after a week or a month is probably because of trading as well. All of us wanted to profit so getting in at the right time and right bottom price matters.

If someone speculates BTC price goes $130K, you'd best invest now and wait for the price to materialize and then sell. But for someone who will debate, it must be seeing something else in the charts.

[asus09]

We got many source information about bitcoin price when many people debate with bitcoin price, we know which one try to give correct information about bitcoin price in debate community, they have each reason why said bitcoin have higher or lower price, become our recommendation at the future with bitcoin price and what have to do invest or not.

[thesmallgod]

The reason is because that is the major reasons for investing in crypto. After a lot of people see how the price of the coin went up long time ago, it has created an unrest as people believe till today that btc will pump one day as it was some years back

[gundala]

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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.

However, Fiat is more dominant than BTC in its daily use, all goods and services are valued by Fiat because its value tends to be constant, and it's easier. As we know, BTC has high volatility so that it will be difficult if used as a benchmark price, so it's natural that most people still compare the price difference. It is true, the value of BTC is more valuable than fiat, but that does not mean it can be compared just like that, BTC is BTC, fiat is fiat, both have their respective functions and positions.
I, really like BTC as a trading commodity, and I plan to give a legacy in BTC,:D

[blckhawk]

The people keeps debating because it is seen the other way around. Instead of being a stand-alone currency, they treat it as a speculative asset. Though you can't blame them for using it in that way since only a few, select merchants do accept cryptocurrencies as payment, and they also immediately convert it to USD/fiat, because that's how the government wants it and it would probably stay that way for more years.

We are locked in on a system made and decided by the government, and even how much you want to change it to foresee a world running on cryptocurrency alone for valuation, making that possible would still be difficult as of the moment.

[Savemore]

Prices in USD matter because its where you can profit when you trade BTC and USD. You can buy and sell while BTC price fluctuates. Users asking about prices and debates what the price may be after a week or a month is probably because of trading as well. All of us wanted to profit so getting in at the right time and right bottom price matters.

If someone speculates BTC price goes $130K, you'd best invest now and wait for the price to materialize and then sell. But for someone who will debate, it must be seeing something else in the charts.

There are debates that we keep seeing about the price of the bitcoin because all of us have different mindset and opinions. We are also different when we are analyzing and it is the reason why the results are not the same that can lead to debates. Mostly debates are happening because they are worrying about the price, they always want to say that they are right even the market is now proving that they are wrong.

[Janation]

I think that is because they want to get their profit quickly.

Most of these people arguing or debating tends to wait for the pump of the price so they can get a profit out of their investment. Another thing is that when the price pumps, they tend to be so excited how much it can pump more. I think that is just it, the feelings or emotions just circulate in there.

[Murat]

Can't figure out the actual fack of this writing, should we be satisfied with what the value Bitcoin has? Is it? If I am not wrong then what the hell is talking about? I don't know. if you don't have any desire to make your wealth more and more then how could you wish to make yourself a wealthy person? so Bitcoin value should be discussed and it will continue because Bitcoin value is one of the important things for this cryptocurrency world, You know most of the cryptocurrencies are based on Bitcoin chain so it means a lot, forget about the USD, Bitcoin will be the most worthy currency in the coming days.

[danherbias07]

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.

And I hope that is just how easy to explain it to everyone but it is not.

When it comes to looking at how valuable something is it should be more popular. That is the case we are seeing now with the world.
Not the rarity of one item anymore or even with demands.
Just the popularity. (I guess we could blame the social media with it.)

We are talking versus the USD here which is like the very known currency of the world which a lot of people also want to get their hands on.
I can see that in my country because of the higher exchange of every USD.
Bitcoin though is still not seen much. In time though, we can compare it again.

[Polar91]

I think that is because they want to get their profit quickly.

Most of these people arguing or debating tends to wait for the pump of the price so they can get a profit out of their investment. Another thing is that when the price pumps, they tend to be so excited how much it can pump more. I think that is just it, the feelings or emotions just circulate in there.

Well, the topic is mainly based on the value of BTC which is the intrinsic value of it that will not need USD for it to rely on. But for me, this is quite impossible, as most of the people today is already utilizing fiats, it is merely impossible for crypto or bitcoin in exact, to be used as people look for the vakue of bitcoin mainly based from USD, if that is to happen, mainly right from the start people should already promote using BTC with its value depending on BTC itself.

[bitvalak]

Yes the main cause because the price of goods is currently determined by the FIAT currency. Unless all prices of goods have been determined in BTC units, the story may be different.
Does anyone dare to price in BTC units? I am sure only 10% of people will say YES, the rest will think first because they also need to exchange BTC to FIAT to meet their daily needs.
The current adoption of bitcoin is not yet maximal, but at least there has been good progress compared to previous years.

[alexsandria]

I agree to your stand point however, for people a piece of Btc does value upon on its market which price which happen to be in currency value. Besides they are competing whether will it pump, dump for them to validate their stand point with others. In addition, you cannot totally buy something out of bitcoin though there are few who accepts it as a payment but majority aren't thus, people ain't living with btc itself but on how much it values in currency.

[msarro]

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.

If it has crushed USD then why we still have value of bitcoin in USD? Bitcoin is still very new to financial world and has yet to establish it's own value or worth. Right now USD and other fiat are the leader as we are dependent on them for our daily living.

[GazetaBitcoin]

Bitcoin’s origins come from a long time ago, many years before Satoshi. Crypto anarchists as Tim May, John Gilmore or Eric Hughes forseen the need of a form of private money which could not be controlled by the govern, which should offer people liberty on the free market. Bitcoin’s backgrounds laid on anarchism, not on greed and profits. Also, on setting people free from govern’s oppression.
Satoshi managed to resolve what many others debated and tried before him, like Wei Dai, Adam Back or Nick Szabo. But he didn’t have in mind to list Bitcoin to exchanges, nor to make people rich. Just free from the governs, banks and any other middle-man. Unfortunately, many prefer to be rich instead of free.
He didn’t think to offer a certain price in USD to Bitcoin upon creating it, just to make all the efforts in order for his creation to be widely used.

Anyway, bitcoin is primarily an investment even if you think it's a currency that was designed to replace fiat (which I'm not sure is actually the case, OP).

Where did you get that information from? Satoshi never said that. And this makes absolute no sense in my opinion.
This is so unrealistic, almost delusional.

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).

Let’s remember some of Satoshi’s words.
“What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party”.

“The traditional banking model achieves a level of privacy by limiting access to information to the parties involved and the trusted third party. The necessity to announce all transactions publicly precludes this method, but privacy can still be maintained by breaking the flow of information in another place: by keeping public keys anonymous. The public can see that someone is sending an amount to someone else, but without information linking the transaction to anyone. This is similar to the level of information released by stock exchanges, where the time and size of individual trades, the "tape", is made public, but without telling who the parties were”.

“I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party.
We very, very much need such a system.
For transferable proof of work tokens to have value, they must have
monetary value.  To have monetary value, they must be transferred within
a very large network - for example a file trading network akin to
bittorrent”.

“ The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts
With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless. ”.

Satoshi never said literally that he want to change entirelly the fiat money, but this is what it would lead to if Bitcoin would have been used as he created it. He wanted to help people to not be oppressed anymore by governs, by banks and by any other middle-men. To give people privacy and anonymity. To offer a way thus governs couldn’t track anymore every financial transaction. To not pay taxes and fees to middle-men. To transact directly, peer-to-peer, without paying huge fees, as it happens (for example), if you send money in different countries / continents from your bank account or from Western Union. To help all the unbanked population.

The majority in the market are looking to make profit as no one is confined to this market as a religion or a cult but these topics about pump are irritating .

Actually there are some seeing Bitcoin as a cult, but only a few, unfortunately – check nullius’ topic The Nullian Bitcult. To be honest, I’d love to hear his oppinion as well.

We are locked in on a system made and decided by the government, and even how much you want to change it to foresee a world running on cryptocurrency alone for valuation, making that possible would still be difficult as of the moment.

Bitcoin was not created for speculation, but in a free market, speculation is what is happening.  That's not necessary good or bad but is just reality.

And this is what Satoshi tried to change, by offering his creation, for free, to the people. All they had to do was to use it as intended: peer-to-peer transactions on the free market, rendering the govern as irrelevant as it could not control them. Sadly, people did not understand that and many still don’t... And the below quote illustrates very well:

Can't figure out the actual fack of this writing, should we be satisfied with what the value Bitcoin has? Is it? If I am not wrong then what the hell is talking about? I don't know. if you don't have any desire to make your wealth more and more then how could you wish to make yourself a wealthy person?

[znation]

Bitcoin is valued when it is converted into the value of the widely used and popular currency by USD, if BTC is valuable by BTC then we cannot compare the value when there is no legal currency to convert. USD is the easiest way to use the most appropriate exchange and pricing.BTC is pumped because the market is not large enough and is dominated by many BTC holders so it is normal to pump.

[piebeyb]

where you see people arguing about the price of bitcoin, is it only in your mind, everyone has freedom of opinion sometimes every opinion is not always the same, that's what is called a difference, just look at how the difference is in this forum, by the way why do you say 1 bitcoin is equated with $ 2, do you know that dollars continue to be printed without gold backups and their money continues to be printed but bitcoin is not in limited supply, that's the difference even I think one day 1 BTC = 1 Lambo might be more interesting