The more popular Bitcoin is, the more valuable it is？

[hichamito37]

Recently, there as been a lot of discussion about using Bitcoin to pay or employers to pay salaries using Bitcoin.

https://bitcointalk.org/index.php?topic=5350730.0
https://bitcointalk.org/index.php?topic=5351333.0
https://bitcointalk.org/index.php?topic=5351973.0
https://bitcointalk.org/index.php?topic=5352233.new#new

(All forum threads, there will be many similar views)


There is a lot of hype among Amazon, Apple, and Tesla about accepting Bitcoin as a payment method. Many of them say that the adoption is better, but if the company converts a large amount of Bitcoin paid by customers into legal tender, it will give Bitcoin. The currency brings a lot of selling pressure.
Bitcoin is limited. Everyone uses Bitcoin for payment and daily transactions. Bitcoin is becoming more and more popular. Many people know that Bitcoin also has countries that set Bitcoin as legal tender. If Bitcoin is used to pay salaries, is it necessary to collect taxes?
Bitcoin is becoming more and more common for daily payments. If it is more convenient for everyone to buy bitcoins and use bitcoins for daily payments, will the price of bitcoins get lower and lower?
But now the legal currency has depreciated. For example, if you are rich, then you will not let your money just be stored in the bank, and will invest it in cryptocurrencies, houses, stocks, and others.
If conditions permit, I would be happy to use Bitcoin for daily payments, but some people have said that they will not sell their own Bitcoins and have been waiting for the price of Bitcoin to rise.
Do you think Bitcoin will be devalued in the future?

Yes , This is for sure the more popular BTC is , The more valuable it is , And now BTC is accepted by many places in the world for payment in BTC and I believe that in the future BTC will be known to more and more people and next peak will be 100k$ .

[swiftbits]

Valuable you mean ? More price?
Yes it will definitely.
For better understanding we can compare it to as gold or can say it follows the method of supply and demand.
The more demand it gets, the supply will less and it makes rarer so the price will go high.
Same happens with Gold And with BTC too.
Hope this helps you OP.

Personally, Bitcoin will also be valued based on its uses. In this digital era, we are projected to rely more on online transactions, most of us operated online. if it ever gains popularity we will get more users using it out of curiosity, not just as a store of value, but as a normal payment alternative.

[Questat]

Yes, the more popular bitcoin is, the greater its value will be. This is indeed the case.

That is why a lot of people are in regrets of not knowing Bitcoin earlier as they might become a millionaire at this time. Those who accumulate earlier and are never afraid of the risk of buying a scratch had been rewarded.
As the name Bitcoin has been published and promoted online, on the internet, the more it gains attention and increases the demand. It was so much to think that 10 years from now we might be able to see Bitcoin at $500k. This is possible, right?

[hannahB4]

Has the technology is improving many people are being enlightened about the crypto market especially given recognition to bitcoin, I was even amazed someone in my country in the clothing line is now accepting bitcoin as a means of payment.

[iTradeChips]

It is really something that we need to ponder upon. How something that cannot be touched, seen, or perceived as real, is having a value that is worth more than gold. Much like the governments of the world giving value to fiat currency, so are the people that gives value to crypto especially Bitcoin. I think, the more people think of it as true, real, and valuable, then the more valuable it becomes. Not to mention of course market forces that would give Bitcoin a very high price due to high demand.

[Suharti12]

We know that Bitcoin is a very popular currency all over the world. Many expensive people around the world are using this bitcoin. However, Bitcoin is legal in all the developed countries. The popularity of Bitcoin will continue to grow as the days go by. It can be seen that the use of this bitcoin has started all over the world.

The development of Bitcoin is indeed extraordinary, since it was first launched Bitcoin has experienced such rapid development. 
The more people who know Bitcoin, the more big companies accept Bitcoin as a means of payment and the more countries that legalize Bitcoin. 
And with the high demand for Bitcoin, of course it will increase the price of Bitcoin because the demand in the market is quite high.

[South Park]

Yes but No. No because there's no rule or regulation or code that guarantees that the more popular Bitcoin gets, the more valuable it is. But, I said yes because technically speaking, It is expected that as Bitcoin and even cryptocurrency gets more adopted, the usage, importance, value, and even price increases. IMO, let's just support adoption and it'll be a win win situation for us all.

lol the more bitcoin popularity increase is the more valuable this goes and that is proven in all areas of living. the more popularityis the more demand comes.

As simple as that, the law of supply and demand basically states that the more demand we have of something the more valuable it becomes, and a great thing about bitcoin is that unlike everything else in which the production can be increased to satisfy that demand and keep the prices from exploding this is not true of bitcoin as one block is generated roughly every 10 minutes and the halving reduces to number of available bitcoins being sold, which makes its price to go up even more due to that demand.

[Kasabus]

We know that Bitcoin is a very popular currency all over the world. Many expensive people around the world are using this bitcoin. However, Bitcoin is legal in all the developed countries. The popularity of Bitcoin will continue to grow as the days go by. It can be seen that the use of this bitcoin has started all over the world.

The development of Bitcoin is indeed extraordinary, since it was first launched Bitcoin has experienced such rapid development. 
The more people who know Bitcoin, the more big companies accept Bitcoin as a means of payment and the more countries that legalize Bitcoin. 
And with the high demand for Bitcoin, of course it will increase the price of Bitcoin because the demand in the market is quite high.

Bitcoin price is already high from the start compared to other coins and when we think its demand started to increase, its value keeps increasing too. And no wonder up to this moment bitcoin has gained more popularity even worldwide that makes some big institutional investors to trust and adopt bitcoin and even big and established countries are planning too to start legalizing bitcoin in their places and eventually adopt it.

For me, its definitely more on demand and supply. The higher its demand has become, the more limited its supply is. And its really a good thing because the value becomes more visible too seeing it in a much higher price right now despite of its high volatility.

[zanezane]

It is really something that we need to ponder upon. How something that cannot be touched, seen, or perceived as real, is having a value that is worth more than gold. Much like the governments of the world giving value to fiat currency, so are the people that gives value to crypto especially Bitcoin. I think, the more people think of it as true, real, and valuable, then the more valuable it becomes. Not to mention of course market forces that would give Bitcoin a very high price due to high demand.

You've answered it already, it's because of the people that believes and perceives that there's value in it. I think that it's the ultimate truth in regards to the reason why bitcoin has a value like fiat, their both backed by faith of the people and that it can be used to trade goods and stuff.

[Bitstar_coin]

Most definitely, the more btc get popular the more valuable it will be, we can easily see this from before and now of btc, it is also very clear with the influx of more institutions has affect the price positively unlike before when there was few or no institutions involved in btc.

[chanler]

I think bitcoin is a future digital currency that has many advantages but that doesn't mean bitcoin can be easily used for everyday life or other things. an item will be more valuable if the use is limited, as well as bitcoin. if then bitcoin is used for daily transactions or payment of salaries I think it will deviate because we know that the crypto market is also uncertain, it can go up or down. therefore it is better to use bitcoin as a future investment because it is believed that the price of bitcoin is getting higher and higher.

[pinggoki]

Taxation will be paid and implemented one way or another. If bitcoin is to be used to pay salaries and compensation then there's a huge possibility the government or the entities that will provide the necessary leeway for bitcoin to be implemented as a bona fide salary means will find a way to tax it and in turn give the tithings back to the government, and yes this will induce a lot of selling pressure but that's the price of becoming a fully-fledged currency, that's why there needs to be an overhaul in the currency system if we want to use bitcoin for our daily transactions and keep its value at a high standard.

It is really something that we need to ponder upon. How something that cannot be touched, seen, or perceived as real, is having a value that is worth more than gold. Much like the governments of the world giving value to fiat currency, so are the people that gives value to crypto especially Bitcoin. I think, the more people think of it as true, real, and valuable, then the more valuable it becomes. Not to mention of course market forces that would give Bitcoin a very high price due to high demand.

In the past you have to remember that banknotes are literally just pieces of paper where you write the person how much you owe them in gold, so when the time comes and you can either carry the amount of gold you owed or could afford it already, there's no issues in the payment system, this could be implied in the continuous rise in value of bitcoin, and basically every type of asset that there is in the market. We value it because we think the item's precious, to an alien species that could visit us in the near future, they may have different concepts of value and currencies, so what may seem valuable for us may seem useless for them.

[Pulsar77]

Popularity is one of the essential things for Bitcoin like it is the same for all of the other coins also. The more the popularity it has, the more the price will be in short. But of course, it will not affect only the price. Bitcoin adoption will be able to reach a much better level also.

[tippytoes]

Cryptocurrency especially bitcoin now become very popular all over the world and I don't think that there is still greater number of people who don't have knowledge on cryptocurrency compared to those who have an idea on it especially on the teenager and above. The point that cryptocurrency has still huge transaction fees it wouldn't be still advisable as payment option, as people will still prefer to choose the one that will lessen their fee and the transaction time that it will needed.

Some people know the existence of bitcoin but I believe, still a lot of them has not done any btc transaction yet. But in all cryptocurrencies that exist, if you ask a regular person, he will first think of bitcoin rather than any other alts. They know it exists, but most of them are still hesitant to touch the crypto market because of lack of knowledge.

[Dax Robinson]

The value of Bitcoin depends on the market and people's demand for it. With the increase in popularity, demand will automatically increase. Now Bitcoin has become popular all over the world. People everywhere are gradually familiar with Bitcoin and the price of Bitcoin. It will be higher than expected, it's all a matter of time.

[James Watson]

With the demands of people and the market, the value of Bitcoin has been endowed by us. Our consensus has made the value of Bitcoin continue to rise. The more consensus, the higher the price. Now companies use Bitcoin as a method of payment, and taxation is also Certainly, tax will not be evaded because of other payment methods.

[Sir Legend]

Popularity is one of the essential things for Bitcoin like it is the same for all of the other coins also. The more the popularity it has, the more the price will be in short. But of course, it will not affect only the price. Bitcoin adoption will be able to reach a much better level also.

The more popular it is, of course, the more users want to use bitcoin, currently bitcoin has a strong global community that makes bitcoin continue to increase in price, besides what makes bitcoin popular is the adoption of many large companies that will make bitcoin easy to use and this is a sign that bitcoin will continue to be popular.

[Kittygalore]

this is not a guarantee that when bitcoin is more popular, the price will increase, as we can see at this time how bitcoin is so popular among many people where there are so many miners who invest in bitcoin, but the price of bitcoin is also stable and that's where we can't make the benchmark the more popular bitcoin, the higher the bitcoin price

Read the Keynesian Beauty Contest to know that you're wrong, popularity means demand and with bitcoin having a limited supply, the price further increases, combine that with the popularity/demand and you will get a much higher pump in prices. So in all dimensions, in the argument you are wrong that even if it's popular, it doesn't guarantee a price increase.

[clint25n]

it is not a guarantee that if bitcoin is more popular, the price will soar so high, as we know at this time that bitcoin investment is the largest investment in this century and is very popular among many, but we can see for areas that are still not stable and experienced a significant decrease, then this cannot be a guarantee that the more popular bitcoin is, the higher the price will be

[BobK71]

If bitcoin get more popularity the more it will expand. If we take a look at the beginning, it will be seen that its price was very little but its price is gradually increasing. One of the reasons is its Popularity. Currently, institutional investors are positive towards Bitcoin. As a result, it is very clear that with bticoin’s popularity as well as demand both are increasing.