tunaduong (OP)
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November 25, 2020, 12:52:42 PM |
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A turbulent political situation in the US is causing the Federal Reserve to print more money, thereby pushing up the prices of other assets, according to a post published yesterday by blockchain hedge fund Pantera Capital. One of those assets is Bitcoin, and its price is skyrocketing - thanks to tech companies buying a lot of cryptocurrency. "The PayPal and Cash app bought over 100% of all newly issued bitcoin," the post said. “As other larger financial institutions follow their instructions, the supply scarcity becomes even more imbalanced. The only way between supply and demand to balance is at a higher price level. With the big tech companies taking in too much Bitcoin, the price will only go up - but will it make the cryptocurrency less accessible for everyday people who don't have millions of dollars to plug into electricity money death? Do you think Bitcoin price will continue to scale and create new milestones? ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fblogtienao.com%2Fwp-content%2Fuploads%2F2020%2F05%2F4-ly-do-cho-thang-nhu-cau-ve-bitcoin-san-sang-bung-no.jpg&t=665&c=oF3Cfk9Vt8pGjg)
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ranochigo
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November 25, 2020, 12:56:24 PM |
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With the big tech companies taking in too much Bitcoin, the price will only go up - but will it make the cryptocurrency less accessible for everyday people who don't have millions of dollars to plug into electricity money death?
There's no shortage of Bitcoin, it's just scarcity that pushes up the prices. You do realise you can buy fractions of a Bitcoin right? If hypothetically, Bitcoin rises to 1 million dollars, then we'll transact in smaller denominations. Obviously having more demand than supply is beneficial to those holding cryptos, it's literally the most fundamental economics principle of supply and demand.
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tunaduong (OP)
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November 25, 2020, 01:09:24 PM |
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With the big tech companies taking in too much Bitcoin, the price will only go up - but will it make the cryptocurrency less accessible for everyday people who don't have millions of dollars to plug into electricity money death?
There's no shortage of Bitcoin, it's just scarcity that pushes up the prices. You do realise you can buy fractions of a Bitcoin right? If hypothetically, Bitcoin rises to 1 million dollars, then we'll transact in smaller denominations. Obviously having more demand than supply is beneficial to those holding cryptos, it's literally the most fundamental economics principle of supply and demand. Do you think that with such a large amount of purchases the Bitcoin Price will reach over $20,000 even $30,000?
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witcher_sense
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November 25, 2020, 01:24:18 PM |
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Essentially, there is no such thing as "the Bitcoin shortage" because bitcoin is a highly divisible currency, which means it could satisfy any economic activity. It is a well-known fact that the total supply of money doesn't matter if the money used in the economy could be divided into small enough units to be used in everyday transactions. In the case of bitcoin, the supply is fixed, which means the only thing that changes is the purchasing power of each monetary unit. The more people holding and hoarding bitcoin, the more bitcoin gains purchasing power. The more it grows in value, the higher the incentive of the people hoarding it to spend it in their everyday transactions.
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dothebeats
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November 25, 2020, 01:42:12 PM |
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While we push the narrative that bitcoin is indefinitely divisible, we are somehow missing the fact that we are pushed to do so because the majority of coins in circulation are controlled by a few. I won’t argue that there isn’t any scarcity whatsoever, but it isn’t also doing us any good in the long run if only a few has worth millions of coins in their stashes. It’s like we created this decentralized, safe-haven for people to put their money into, and serve as their own ‘banks,’ but slowly, corporations and financial entities are coming in to the space to thrive off of our ‘necessities’ once more, and we’re back to square one again. I’m not saying that more and more people in the scene is bad per se, but the amount of coins they control results into a perceived ‘shortage’ of bitcoins in circulation, plus the amount of overall control that they have in the market is scary.
Of course, regulations that combat market manipulation would soon follow once the scene grow bigger and bigger, but still that amount of control in the market is something that you wouldn’t really want to mess with.
P.S., bitcoin is indefinitely divisible, for as long as the code permits such changes, and I do not contradict that fact.
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Darker45
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November 25, 2020, 01:59:42 PM |
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With the big tech companies taking in too much Bitcoin, the price will only go up - but will it make the cryptocurrency less accessible for everyday people who don't have millions of dollars to plug into electricity money death?
Accessibility does not have anything to do with the price. Bitcoin is always within reach to anyone who wishes to have some. You can always buy it from a lot of sources. Whether Bitcoin is priced at $10,000 or $20,000 does not imply easier or harder accessibility. Perhaps Bitcoin accessibility has something to do with different regulations and laws of countries. Other countries are more hostile to Bitcoin than the rest so accessibility is more difficult in these areas than in those which are more friendly and welcoming to it.
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sheenshane
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November 25, 2020, 03:17:10 PM |
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This is considered plagiarism, just please include the source link where did you come from this idea.
I like the topic to discuss and here is my opinion.
Exactly, it will really reach a higher price than what we have experienced back then for the demand is continuously increasing. Though we have the law of supply and demand it both contributes to the volatility in the price of Bitcoin which we barely knew that this has a limited supply and when Bitcoin was mined then the supply will not pass muster the demand and that will be the cause for the price to surge in the market and since mass adoption has started then obviously the demand nowadays are rising which makes the Bitcoins become more expensive. This how the Bitcoin shortage benefits crypto investors.
In terms of accessibility, it can really be bought by fractions however, like what I mentioned the number of bitcoins to be mined has a limitation which could possibly become difficult to own in the future by an ordinary individual who receives a minimum wage or salary especially if the price has already reached its peak.
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Ucy
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November 25, 2020, 03:28:28 PM Last edit: November 25, 2020, 04:27:24 PM by Ucy |
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- but will it make the cryptocurrency less accessible for everyday people who don't have millions of dollars to plug into electricity money death?
Does it matter if big/small investors buy 1million dollars worth of bitcoins or $10 worth of bitcoin? It will be accessible as there will always be people willing to sell at their desired prices. Besides, both the small and big investors will gain or lose bitcoins in proportion to their investments during price fluctuations.
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tunaduong (OP)
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November 25, 2020, 03:45:51 PM |
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This is very good for the bitcoin market with scarcity comes demand , and the price of bitcoin will only be going through the roof.
The increase in scarcity will make the market fluctuate unpredictably
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tunaduong (OP)
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November 25, 2020, 03:47:49 PM |
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With the big tech companies taking in too much Bitcoin, the price will only go up - but will it make the cryptocurrency less accessible for everyday people who don't have millions of dollars to plug into electricity money death?
Accessibility does not have anything to do with the price. Bitcoin is always within reach to anyone who wishes to have some. You can always buy it from a lot of sources. Whether Bitcoin is priced at $10,000 or $20,000 does not imply easier or harder accessibility. Perhaps Bitcoin accessibility has something to do with different regulations and laws of countries. Other countries are more hostile to Bitcoin than the rest so accessibility is more difficult in these areas than in those which are more friendly and welcoming to it. it is likely that Bitcoin has been and will be recognized in many countries as a legitimate asset
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Baofeng
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November 25, 2020, 09:41:14 PM |
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With the big tech companies taking in too much Bitcoin, the price will only go up - but will it make the cryptocurrency less accessible for everyday people who don't have millions of dollars to plug into electricity money death?
Accessibility does not have anything to do with the price. Bitcoin is always within reach to anyone who wishes to have some. You can always buy it from a lot of sources. Whether Bitcoin is priced at $10,000 or $20,000 does not imply easier or harder accessibility. Perhaps Bitcoin accessibility has something to do with different regulations and laws of countries. Other countries are more hostile to Bitcoin than the rest so accessibility is more difficult in these areas than in those which are more friendly and welcoming to it. it is likely that Bitcoin has been and will be recognized in many countries as a legitimate asset What do you mean by legitimate asset? Bitcoin was not illegitimate in the first place, countries that don't recognized bitcoin see it as a tool for criminals and ponzi and they don't want their population to have total control of their money or cash. Of course, bitcoin will continue to make milestone and obviously the next target is a new all time high.
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November 26, 2020, 05:03:16 AM |
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What drives the prices is not just the scarcity of bitcoin, if the circulation is also constricted then the prices will drive up because there is abundance in bitcoin but there is no trade happening. It does benefit the long time hodlers but the people that just joining in the hype are late to the party, what they will witness is another price crash and in turn they will sell it at losing value.
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November 26, 2020, 05:13:00 PM |
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A shortage will create more demand for Bitcoin as there are no fewer sellers of Bitcoin. Having fewer people selling Bitcoin is also a double-edged sword when Bitcoin's value is pushed too high will have strong sell-offs like today when Bitcoin fell from $ 18500 to $ 16000 in just a few hours. The Bitcoin market needs a balance in speculation and more transaction volume to reduce the risk of trading. The lack of Bitcoin will create many similar bearish waves in the future.
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Nhor1011
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November 26, 2020, 05:50:49 PM |
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Bitcoin shortage will lead to a surge high in market value if there is a greater demand and the investors will surely benefit on it. Bitcoin was created with limited supply, isn't it? and because of that limited supply it become valuable because while the supply is limited, the demand are keep on increasing.
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Walterhank
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December 14, 2020, 07:28:03 AM |
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That's what i am worried about. They are taking the power from the people and people can't buy it as it has reached to a very high price especially lately.
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MoreStamps.Global
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December 14, 2020, 07:32:48 AM |
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it's literally the most fundamental economics principle of supply and demand. I agree with this as shortage of any thing will push price higher to settle supply demand. That's what i am worried about. They are taking the power from the people and people can't buy it as it has reached to a very high price especially lately. Price will fall and that's not an issue. But investment/management firms buying shitlods of bitcoins worries me as they can convert bull to bear at any instance of time.
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