why is bitcoin price important?

[larry_vw_1955]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

[mk4]

Whether we like it or not, people will "use" bitcoin for whatever purpose they see fit — may it be for peer-to-peer transfers, as an unconfiscatable asset, as an investment, or a combination of any of those. That's one of the great things about it, total freedom.

[Poker Player]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

One thing is the original idea and another is how that idea evolves when it becomes a reality. Today we see many things that deviate from Satoshi's original idea, and not only in terms of the price that you mention.

Regarding the price, I guess what bothers you is that the comparison is made with the dollar, but it could be done in another way. Those of us who hold Bitcoin care about the purchasing power it has. When the Bitcoin was worth $1, you could buy a car with 1 Bitcoin? No. Today you can? Yes (as long as it's priced at $20k or less and the dealer accepts Bitcoin or you'll have to switch to fiat to exchange).

So, I say 1BTC=1BTC always put it in historical perspective, because 1BTC with which you bought just some chewing gum, is not the same as 1BTC with which you buy a car.

[bittraffic]

Because while Bitcoin serves a purpose, it is also investment for some of us so price is important. For everyone has a view of how they look and use BTC. For the gamblers its one currency to use in a casino that doesn't ask KYC. Many of us are guilty of that.

I limit myself to using BTC as investment because I kept trading it even when I'm losing. For a service provider or a businessman selling something in the market place, they literally meant BTC as currency so price is important.

[fiulpro]

Basically the price is very important for profits, which means that a long term or a short term holder would be able to get better market value at a given time, what is even more important is the savings that people have in their accounts in terms of bitcoins, those would be affected majorly if the price fell, but if you are not a holder or too focused on trading and is only doing active transfers and exchanges then you do not have to worry about it, its more important to focus on market growth in such cases.

[pooya87]

There is a lot of posts about the price because the market has been very volatile these days after the big crash that surprised everyone. On top of that you are looking at topics in places that are focused on the price like the speculation board but if you go somewhere else that is not about the price like the technical boards or sites like stackexchange you won't see any discussions there. Not to mention that the speculators are more vocal than others.

In any case, bitcoin price is important because as a currency it has to have a value and that value is reflected in the price. It also has to be more stable (which it still isn't) to function better as a currency.
Price also affects bitcoin's security since it directly affects the mining profitability and the hashrate.

[buwaytress]

In any case, bitcoin price is important because as a currency it has to have a value and that value is reflected in the price. It also has to be more stable (which it still isn't) to function better as a currency.
Price also affects bitcoin's security since it directly affects the mining profitability and the hashrate.

Yup! I don't think present prices on any given day are important, but long-term trends for sure.

A simple way to look at price is, if more people buy than sell it (demand), then it shows Bitcoin works as it should, across the variety of needs people have.

Low prices as a long-term trend reflect a market where more people are selling than buying, and then we've to question Bitcoin's value to the masses.

[Yaunfitda]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

True it was designed to be a P2P payment system, we can't deny that as it was written by Satoshi in the whitepaper. But you have to understand that even in the beginning, it started to have a value and then early bitcoin enthusiast have crypto exchanges, and with that it has change everything.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

You can used it to whatever purposed, but I will say that it has not become an asset. And I doubt that it will go to $1.00 argument of yours. You really have to look at the early history of bitcoin to understand it's progress.

[pooya87]

Yup! I don't think present prices on any given day are important, but long-term trends for sure.

A simple way to look at price is, if more people buy than sell it (demand), then it shows Bitcoin works as it should, across the variety of needs people have.

Low prices as a long-term trend reflect a market where more people are selling than buying, and then we've to question Bitcoin's value to the masses.

I liked this view. At the end of the day if we are seeing that the adoption is increasing in the long run and regardless of the short term drama, that means bitcoin is successful since it is doing its job. This adoption increase is mostly reflected in the long term price rise (2 years ago it was $3k and now it is $20k).

The type of adoption is not important either because bitcoin provides many utilities for different people. For example it acts as a hedge against inflation or as a censorship resistant currency or simply for speculation or as an immutable timestamped database and a lot more.

[xSkylarx]

i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

Is there someone that only knows bitcoin because of its value and not aware of that utility? People that invest their money on bitcoin obviously knows that it can be transferred anywhere around the world.  Price is important because it's just like demand and supply. If price keeps crashing and no one buys it then how can it be a means of exchange if its value is zero. Bitcoin is more of an investment to many people because of its increasing value over the years.

[tranthidung]

for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved.

Because they have wrong approach and standpoint about Bitcoin. They participate in Bitcoin market for profit, with their naive speculation that they will get profit in near future, after a few weeks, few months or not longer than 1 or 2 years.

With this standpoint, they are speculating price of Bitcoin. It is not good but it is how the crowd come with FOMO and leave with panic.

They should adjust their standpoint and look at Bitcoin with its value, not its price. What is value of Bitcoin? Its use cases, its utility for people. I am sure use cases and utility for Bitcoin are increasing, not decreasing. Its value is growing despite of market ups and downs.

[romero121]

During the initial days people started using it for some purpose. Most of them say it is for gambling and darknet needs. By that time the real users well understood about the technology and the good about it. Later the usage started to increase as a result of its increase in price. If bitcoin haven't gained good price in the market, surely this couldn't have reached the present level of growth through the people understanding the goodness of its underlying technology.

[wmaurik]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

Those who don't care about the purpose of Bitcoin are those traders and investors who put their money into Bitcoin because what they expect and focus on is the profit they can get from Bitcoin itself. Although basically they also know that the purpose of Bitcoin is to be able to transfer digital money in a decentralized manner at any time.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

Likewise, those who complain when they see the price of Bitcoin has gone low because they experience a loss if they buy at a higher price than now so they need more time to recover the amount of money that was lost when the decline occurred. Even though there is no need to complain that the product they are holding is Bitcoin because Bitcoin will always be good and profitable as long as they can be very patient with the market situation.

[PX-Z]

i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner.

Would you use bitcoin to transfer the so called "digital cash" in the very first place if it doesnt have any much price even at 1k. Even people are hesitant when it reaches to use bitcoin on that range.
In the other hand, people will use bitcoin everything what they want it, people doesnt see bitcoin now as a p2p way to transfer funds.

[Welsh]

It's only important if you wish to spend it in the short term. If you are saving for the long term, the current price doesn't really mean much at all, except you can accumulate more Bitcoin right now, than you could last month. People do obsess over the price a little bit too much I feel. Although, that's only natural if you are a investor looking to profit on your investment, rather than use it to escape capitalism, and the banking system.

Whether we like it or not

I'm not sure why we would even care what other people use Bitcoin for. That's the beauty of it. I don't look down at speculative investors looking to use Bitcoin as a means of obtaining more fiat currency, and the same as I don't look down on the sort of elitist attitude of holding regardless of what happens.

People are free to use Bitcoin for whatever they want, as long as it's legal. That's perfect, and I certainly don't have the authority to tell someone else how they spread or spend their wealth.

[Nrcewker]

People are so tensed about the price as they want to make profit from it or currently want to recover the losses.
This is the main motivation here for which people are tensed about the price.
There are also many other reasons for which the price might matter, but at the current situation, buying and selling issues are the main reason for which many people are frowning here in the forum.
Once Bitcoins reach a stable price, the less posts regarding it’s price you can see.
Let’s hope for the best.

[Lucius]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

How many people do you think are interested in Bitcoin because of the reason why Satoshi invented it? If that percentage is at least 20%, I would say that it is too much, considering that most people will never be able to escape the influence of a centralized system built over hundreds of years. You are right that most are waiting for the right price and their exit point, and in the end Bitcoin will become something that will be controlled by the richest if they find their interest in it.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

A society that has become completely materialistic cannot perceive things around it in any other way than through value - so the most expensive things are the best, while the cheap ones are less attractive. This was also reflected in Bitcoin, which is a very good and positive thing when it is in a bull run, and in the moments when it loses its value, labels of Ponzi schemes, multi-level marketing, and environmental destruction begin to be attached to it.

[Adbitco]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it?

Now let me clear you a bit about it. For me i noticed if the price is very low or low people seems to spend more volume of bitcoin for transactions. For instance; I want to pay for a goods worth $1000BTC with current price in Bitcoin is ~0.043BTC but if the price get higher to $67k or more then i can only spend little less in Bitcoin. E.g. Goods worth $1000BTC at the price of $67k would be ~0.0141BTC at then no one want to lose his or her Bitcoin when the market is low. This could also be a reason why people are focusing on the price instead of the core value, though some might be for a profit probably buy at low waiting for the market to get higher for them to sell and make their gain.

[darkv0rt3x]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

You thought that and you're right! However, people is still not used to the concept, and only seek for the quick buck. Sad, but it is how people's minds are working until they realize what they should have done while Bitcoin is cheap! Once more, I'll refer to this very important subject that is probably the hardest to accept and actually use it in real life. Time Preference. We need to lower our Time Preference so that we care more about the future than we care about the present! Bitcoin, among other things, can and is being used as a storage of value, for those who are lowering their time Preference, but unfortunately most of us are trading for more shiat money!

Well, guess what? We are sucking value out of Bitcoin when we sell it for more shiat money that what we bought it for!
And many times, what happens is even worse, for the ones seeking the quick buck. You buy at X, sell at Y > X, then, many times you re-buy at Z > Y... See, what happens to the profit with respect to X -> Y? It may have vanished because you bought it at a higher price than what you previously sold it.

[hugeblack]

If the value of a bitcoin is one USD, you will not find a global adoption of its use. In the end, I want to buy bitcoin to use it to buy goods and services or convert it into cash that helps me buy goods and services, so the price is important.
But you should not focus on the price as much as why do I want Bitcoin?

 - If it is just an investment, you are doing it wrong and you may end up losing your money.
 - Also, no one will feel the value of Bitcoin except those who cannot make international transfers at cheap rates or those who do not suffer from hyperinflation.

[Accardo]

Bitcoin is a currency that has a transparent view of it's price value tagged to dollar or other currencies. Just like people check the value of $1 to their own country currency. That's how the world focus on the value of 1 bitcoin to dollar. During this inflation people will say that dollar raised in price that's why commodities are expensive especially in third world countries where their currencies are affected by the value of dollar. So, the use of bitcoin as a currency is the reason why people wants to know the price. The use of bitcoin as an investment also has to do with the price. the use of bitcoin as a trade has to do with the price. The only aspect of bitcoin that has nothing to do with the price is the network it's been hosted.

[Husires]

I think that the changes in the price at the present time are what prompt people to ask about Bitcoin price and when you know that a number of investors entered the market at prices ranging from $30,000 to $50,000 you will find it logical.

These people will either receive and sell at a loss (weak hands) or keep those currencies (Diamond hands).

Within 6 months to a year, things will be very slow and boring, then you will not find many people talking about the price until the new wave begins, and so on.

[kryptqnick]

Of course, the price matters more for hodlers (at least, long-term trends matter to them or they have a certain target after which they can use/sell) and traders (short-term volatility) more than to those who view Bitcoin as money. But I think it's probably the majority of users, so disregarding them is probably wrong. Also, it does matter if you want to use it as money as well. Imagine that you want to buy a certain flat with your BTC, and a couple of months ago you could afford it, but now you lack half of the payment required because the purchasing power of Bitcoin (which is roughly what we see when the price in USD changes) decreased that much. So it does matter how much it's worth if you are going to use it.

[Leviathan.007]

The reason why a lot of posts are about the bitcoin price here is mostly because of the reason why people getting into bitcoin. Most people will start investing in bitcoin with their fiat money and compare the value of bitcoin with the fiat daily and they are waiting to get some profits over their investments to get back to the fiat they invested. While if they look deeply they will understand if they truly believe in bitcoin being inflation then they won't need to exchange back to the fiat, because no matter of the price of each bitcoin but one bitcoin is always one bitcoin unless you sell it.

[tabas]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

This has been a topic for a long time. It's true that bitcoin was made for the reason of transfer but it's another good character of bitcoin that we have embraced and there's nothing wrong if people are using it as a store of value. That's how it is and what it is right now. And as we hold it as a store of value, are we ignoring it as a transfer method? No. It's attached to its use for being both so, we just have to enjoy both of it and do what you want to do with your bitcoins.
The market is evolving and no one will complain if bitcoin goes to $1, you know why? It's because many will surely buy at that price.

[AakZaki]

at this time I certainly say that the price of bitcoin is very important, because bitcoin is a profitable digital asset investment. When the price of bitcoin starts to rise and can reach new ATH, this will also attract many people to get into bitcoin, but if it was the other way around and Bitcoin was only worth $ 1 like you said of course Bitcoin would not be what it is today. Bitcoin adoption is still low and bitcoin acceptance is hindered by regulations in each country.

[darkv0rt3x]

If the value of a bitcoin is one USD, you will not find a global adoption of its use. In the end, I want to buy bitcoin to use it to buy goods and services or convert it into cash that helps me buy goods and services, so the price is important.
But you should not focus on the price as much as why do I want Bitcoin?

 - If it is just an investment, you are doing it wrong and you may end up losing your money.
 - Also, no one will feel the value of Bitcoin except those who cannot make international transfers at cheap rates or those who do not suffer from hyperinflation.

What you mean by losing money for investing in Bitcoin? Buy Bitcoin is probably one of the best investments today! Have you seen how much value the dollar lost in the last 100 years?
Your second claim is not true at all. Jeezz. I'm sorry to disagree but there are so much more advantages of Bitcoin over any other asset that I can't understand how you can say those things!

[justdimin]

People are so tensed about the price as they want to make profit from it or currently want to recover the losses.
This is the main motivation here for which people are tensed about the price.
There are also many other reasons for which the price might matter, but at the current situation, buying and selling issues are the main reason for which many people are frowning here in the forum.
Once Bitcoins reach a stable price, the less posts regarding it’s price you can see.
Let’s hope for the best.

Unfortunately people who are rushing into trying to make a profit will usually end up with making a loss. This is the main problem, if we end up not rushing into this, then we would not have to worry about making the money back. It's simple, you just hold the ones you have and hopefully you could buy some more at this current price, and you will eventually profit if you wait.

But, people are so impatient that they are trying to make that money back as soon as possible and that results with the greedy result where they lose even more. I have seen people go "last ditch" and do high leverages to make their money back, and as we all know, that rarely ever works.

[larry_vw_1955]

 It also has to be more stable (which it still isn't) to function better as a currency.
Price also affects bitcoin's security since it directly affects the mining profitability and the hashrate.

How do you go about making bitcoin price more stable though? Isn't that like trying to make bitcoin into something it wasn't meant to be? Or are you saying that more widespread adoption and use will stabilize the price more, I'm not sure i can see how because it's already "out there" pretty large volume everyday being traded.

Once Bitcoins reach a stable price, the less posts regarding it’s price you can see.

I don't see how bitcoin can ever reach a "stable price". Since it's not a stablecoin. I think that's just one of the things people have to accept if they are going to use bitcoin is it can sometimes have big price swings. There's no solving that. Because theres no way to predict world events and world events can affect bitcoin price. Things like wars, viruses, political forces, etc. Those type of things don't happen everyday but then there are smaller "micro-events" which probably cause smaller price fluctuations more often which you can't get rid of either like crashes in the crypto market caused by exchanges becoming illiquid aka celcius, voyager type events.

[pooya87]

How do you go about making bitcoin price more stable though? Isn't that like trying to make bitcoin into something it wasn't meant to be? Or are you saying that more widespread adoption and use will stabilize the price more, I'm not sure i can see how because it's already "out there" pretty large volume everyday being traded.

You can not make the price stable, it becomes more stable naturally in time. It all comes down to adoption, to put simply as the market grows manipulation of it becomes so much harder. You can already see it becoming more stable if you look at the bigger picture for example comparing bitcoin market of 2010-2011 with 2021.

I don't see how bitcoin can ever reach a "stable price".

Bitcoin can have a stable value some day but its price will never be stable because fiat will continue dumping so bitcoin price should always rise.

[2stout]

Because it is the initial way and for some the only way they are able to access, extract, or assign any value to bitcoin.  Which is why when you see bitcoin moon, FOMO sets in and when bitcoin tanks, you see panic selling abound.

[Minecache]

Bitcoin's original purpose was not as an investment asset, but rapidly rising prices have led investors to turn bitcoin into a profitable trading asset and this is the behavior by humans, not by bitcoin.

How Bitcoin is used is up to each person as long as it benefits them. I invest bitcoin to make profit but that doesn't mean you will like me, you can use bitcoin as a means of payment if that makes you happy. Bitcoin has the ability to do anything, which is one of its greatest characteristics.

[dansus021]

not gonna lie why price is important because everyone want to make profit including me hahaha

and of course, bitcoin in the other hand is good for payment privacy and the blockchain itself is breakthrough

[worle1bm]

The prices are way too important if we look at different aspects for bitcoin.Say we are making payment through it to any merchant so how do we make it if we are not aware about it's prices in the same currency like the goods are worth $100 then how many btc you will pay comparatively to it? So it's important to know the price for it and then to calculate your profits if you have invested at some points in Bitcoin so we can say it's all about usage how we want to determine the prices but they are important.

[darkv0rt3x]

 It also has to be more stable (which it still isn't) to function better as a currency.
Price also affects bitcoin's security since it directly affects the mining profitability and the hashrate.

How do you go about making bitcoin price more stable though? Isn't that like trying to make bitcoin into something it wasn't meant to be? Or are you saying that more widespread adoption and use will stabilize the price more, I'm not sure i can see how because it's already "out there" pretty large volume everyday being traded.

Once Bitcoins reach a stable price, the less posts regarding it’s price you can see.

I don't see how bitcoin can ever reach a "stable price". Since it's not a stablecoin. I think that's just one of the things people have to accept if they are going to use bitcoin is it can sometimes have big price swings. There's no solving that. Because theres no way to predict world events and world events can affect bitcoin price. Things like wars, viruses, political forces, etc. Those type of things don't happen everyday but then there are smaller "micro-events" which probably cause smaller price fluctuations more often which you can't get rid of either like crashes in the crypto market caused by exchanges becoming illiquid aka celcius, voyager type events.

Price will stabilize once there is more liquidity in the network. See this as a pool. If you through a big rock into the pool, big waves will form. If you through a tiny rock, you'll barely see any waves. Now, take the same rocks, get yourself into a helli, and through those same rocks in the ocean from a considerable altitude. You'll see nothing from neither of the rocks because in this case the pool is so big that it "absorbed" it all.

The same happens with Bitcoin, the more supply in circulation (up to 21 million, of course) and the more the value of each sat, the less effect will be noticed from market actions like transfers, buys and sells!

[Bitstar_coin]

The creator of btc had a different purpose in mind when he created this tech (to serve as alternative payment option, give people the ability to have some control over their funds) but right now people have different purpose towards btc, some sees it as an profit making assets, others as store of value or an alternative payment option. I think the number of people who sees it as a profit making assets are more. The majority only talks about the price, the next ath and so on which is why imo it is one of the reason why btc is so loved and popular.

[TheUltraElite]

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

Bitcoin's intended purpose was to be an alternative to the banking system. A new currency that could be decentralized and censorship-resistant. Just like foreign exchange, the price of such an asset would be speculated on, a by-product of the system.

Now consider the fact that you have
1. the original product - a new currency
2. the by-product - a speculative asset for trading

How many countries immediately made bitcoin or for that matter till date made it legal to transact in completely? At the time when bitcoin was started it was close to nil.

Hence the people who gathered bitcoin as a part of their total assets, never got a place to spend it properly, therefore the by-product become more attractive than the original product. Hence the things became like that and trading became way more popular than actually spending your bitcoins for paying a merchant. This will not change easily and hence the price becomes the thing people talk about so much.

[Mauser]

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

For long term crypto investors the bitcoin price doesn't really matter so much, they know there is a long term trend and that the bitcoin price is eventually going to recover. It is mostly the day traders who are worrying about the price and are afraid to lose their money. The purpose of bitcoins is to have a decentralised currency that can be used all around the world. The price is still important if we actually want to buy something with our coins. Sure I can send BTC around the world at low fees and shouldn't worry about the price quoted in Fiat, but if I want to buy some goods like a new cell phone or laptop I need to consider the prices in the country I want to buy in. If bitcoin was worth only $1 like a stable coin that many people would complain because they bought bitcoins at much higher levels. What we need is more stability in the price levels, not a cheap bitcoin price.

[Gyfts]

How do you go about making bitcoin price more stable though? Isn't that like trying to make bitcoin into something it wasn't meant to be? Or are you saying that more widespread adoption and use will stabilize the price more, I'm not sure i can see how because it's already "out there" pretty large volume everyday being traded.

Mass adoption would make the price more stable. Complete stability does not exist in any financial market. I could go on a tangent on the philosophical notions of stability, but for the purposes of the financial sector -- stability doesn't actually exist. The traditional currencies that you might think are stable actually aren't. Their value is decaying constantly, and the rate of decay (inflation) varies.

I don't see how bitcoin can ever reach a "stable price". Since it's not a stablecoin. I think that's just one of the things people have to accept if they are going to use bitcoin is it can sometimes have big price swings. There's no solving that. Because theres no way to predict world events and world events can affect bitcoin price. Things like wars, viruses, political forces, etc. Those type of things don't happen everyday but then there are smaller "micro-events" which probably cause smaller price fluctuations more often which you can't get rid of either like crashes in the crypto market caused by exchanges becoming illiquid aka celcius, voyager type events.

As I mention, mass adoption would help. Stablecoins aren't stable. If they're pegged to a currency, the stablecoins's purchasing power decays at the same rate the currency it's pegged to does. And whatever centralized authority issues out the stablecoin, you better hope they remain solvent.

[GreatArkansas]

(....)
thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

Because most of the people who start to own Bitcoins are just for money, they thought buying Bitcoin is easy money. They don't even know how Bitcoin works.
This is the most mistake of people right now that should be practiced. That's why spreading education about Bitcoin is good for everyone, not only about the money.

Look at now, if the price is dumping of Bitcoin, less talk about and lot of people crying because they are losing their money.

[Out of PATIENCE]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

The purpose of Bitcoin is to remove the authority from banks and Governments over their power & control over people's money. To put the power back in the hands of the people to control their own finances. Its price is determined, at any given time, by what people are willing to spend to get the Bitcoins, or what price they're willing to let them go for.

The price will be important as long as other currencies exist. The value of what they own goes up when price is high, the value goes down when it is low. This directly impacts what they could use their Bitcoin for, and in what capacity, so it will always be important as long as other currencies exist.

The crazy part is seeing people complain about $20,000 BTC. Most Bitcoiners would have never imagined such a USD price in 2022, perhaps not even Satoshi himself. Bitcoin is doing very well in terms of price.

[bestcoins1]

Bitcoin is a very good cryptocurrency asset and is very good overall. Likewise with the network that is already alive and is also used by many people in the past until now so it is appropriate for Bitcoin to have a price and that is very important for Bitcoin's resilience and competitiveness with other products in the cryptocurrency space.
Because for any asset that is already excellent and already valuable, it is always very important to have price as an additional benchmark after the concept and purpose of Bitcoin itself.

[Flexystar]

Its an asset, what to expect anything else from the bitcoin ?

It needs to be priced so that one can understand how much worth it is and how to work on the transactions. If you have value you can trade it easily for various stuff.

With the advancement in different transacting modes Bitcoin can be traded for real world stuff so it needs to be priced something to understand its value.

[Oceat]

Back in the days when Bitcoin price doesn't matter that much to them they didn't complain but once it started to pump once there's a bull run or halving that's the time people would complain. It seems that the more people using Bitcoin the more its value will continue to increase although not from time to time but because of the demand and supply.

And people could use it whatever the way they want without the involvement of any centralized third-party. Be it as a crypto for payment or as an asset like gold but most people would choose to make profit that's why they are in this crypto market.

[famososMuertos]

...///...;;; so if bitcoin was worth $1 people shouldn't complain.

The price! It is perhaps the most coveted and the first for which many come to bitcoin,  many have no fckg idea who Satoshi Nakamoto  is or what his initial idea was but they do care about the price of bitcoin.

I think would say that the issue of the price of bitcoin gives it an objective that supports the entire "also" important environment that surrounds it, so as not to go into specific details, let's mention (1) technology, (2) ventures; everything that was generated with the arrival of bitcoin, mining, businesses, exchanges, casinos, etc. (3) users, they coexist and promote bitcoin and by the way it is worth saying that with equal importance in the three elements mentioned in their specific weight in relation to price of bitcoin.

[rojan]

Bitcoin price is important. Because lot of people trust in btc and like btc pear to pear Network system. It is totally freedom and its transcation can dome totally anonymously. already many popular company even Tesla, Apple, Microsoft involved in Bitcoin. that's why Bitcoin price is must important

[justdimin]

Bitcoin is a very good cryptocurrency asset and is very good overall. Likewise with the network that is already alive and is also used by many people in the past until now so it is appropriate for Bitcoin to have a price and that is very important for Bitcoin's resilience and competitiveness with other products in the cryptocurrency space.
Because for any asset that is already excellent and already valuable, it is always very important to have price as an additional benchmark after the concept and purpose of Bitcoin itself.

Network is the thing that bitcoin is selling basically. Because, blockchain is the thing that makes bitcoin different from all other digital "money" that has been created. If it was such an easy thing, ulltima online money would be valid like this and would have big worth, but it doesn't. Because, bitcoin has blockchain and others don't. After that smaller altcoins got created and now there is a huge market after over a decade, but it doesn't mean that it would make sense for them to be as valuable as bitcoin since that was the first one.

We should believe how much bitcoin worths in price equals to how much people like the concept of blockchain backed money. In my opinion as well, price of bitcoin is important as it is an explicit measurement to know about the growth of bitcoin.

[BALIK]

The creator of btc had a different purpose in mind when he created this tech (to serve as alternative payment option, give people the ability to have some control over their funds) but right now people have different purpose towards btc, some sees it as an profit making assets, others as store of value or an alternative payment option. I think the number of people who sees it as a profit making assets are more. The majority only talks about the price, the next ath and so on which is why imo it is one of the reason why btc is so loved and popular.

Exactly, today people get into bitcoin because they see it as an asset to invest in profitably. Big companies and corporations like MicroStrategy invest in bitcoin, they are also just for the profit it will bring them in the future, very few people see it as a payment method so the price is concerned above all else. Whatever bitcoin's original purpose was, most importantly bitcoin has been helping people create their own value and privacy like no other asset class can.

[fzkto]

I always thought that price wasn't very important for bitcoin, i.e. it wasn't the main thing. Of course it's nice when it's worth 50k and not 100 dollars. But its price has no effect on moving value from one point to another. So whatever the price of bitcoin, people will use it and the blockchain will succeed.

[GigaBit]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

The function of bitcoin and its value are two different things. The main purpose of Bitcoin is to determine the type of digital asset transfer that is valued and its price is determined through trading based on its practical benefits. It is true that people often pay more attention to trading or its price than to use case.

[ChrisPop]

The thing is you can't purchase many things with Bitcoin at the moment because only a few countries in the world have declared it a legal tender. You see... people don't want an asset that does not produce them money, protect their money, nor they can use as a payment method. So as long as Bitcoin is not a mainstream currency accepted directly by merchants and not through a payment processor that quickly converts it into fiat price will be important. What is price anyway? --> The equivalent in other instrument/asset that you can get from other market participants.

[nurilham]

Because no offense that most people are investing to take certain profits. We don't know if the holders have been holding Bitcoin for many years, right? Each holder has a certain target price in order to take profits in some certain price. Moreover, Bitcoun price also commonly will infleunce the altcoins, that is why people are also concerning in the Bitcoin price due to the altcoins. In this case, there is nothing wrong that Bitcoin goal is not only as a payment method, but also for investment. And once again the purpose of investment or trading is to take profits. We may realize it exactly

[Fivestar4everMVP]

so if bitcoin was worth $1 people shouldn't complain.

I agree with the rest of your post but this part am quoting is the part I don't agree with, there is absolutely no way you should expect someone not to complain if for example, they buy Bitcoin at a price of $20,000 and while still holding the Bitcoins, it's price drops to $1,  I honestly would bet my d!ck that you too @op would complain, it is important that when we make posts like this, we should try as much as possible to be realistic in our approach and assumptions.

If people can complain when ever the price of their local currency drops against the US dollars (please note that local currencies has less volatility) how would you say they shouldn't, or expect them not to complain when the price of Bitcoin (which has a way way higher volatility) drops against the dollar?

The beautiful thing is that, Bitcoin is decentralized, so if anybody is complaining about its price, he or she is complaining to no one, he's not complaining to me or you, he's just complaining, this applies to us individually as well, when any of us complain about the price of Bitcoin, we complain to no one because Satoshi is not here anymore, nobody owns Bitcoin, so all and any complain doesn't change anything.

[n0ne]

For different reasons cryptocurrency price is much important. If bitcoin haven't got good increase in the price, surely this could've restricted people from investing on Bitcoin. Going through the users of bitcoin, it is possible to see majority of the users getting into the market understanding its increase in the price. Very few understand the underlying technology and get into market.

[Slow death]

alot of posts seem to be focused on the price of bitcoin.

 

Of course, people will focus on the price of bitcoin because bitcoin is an excellent long-term investment. What person doesn't want to invest in something and have a 10x profit? who would leave a good investment like that? and where is it wrong for someone to use bitcoin this way?

i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

people use bitcoin for investments, to buy things in the real world, to transfer money to friends and relatives. we cannot think that people are just using bitcoin to make hodl, recently we saw that many people made donations to ukraine using bitcoin, we saw El Salvador taking a big step towards bitcoin adoption

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

people know that the price of bitcoin will not drop to zero, they just complain about losing money

[larry_vw_1955]

so if bitcoin was worth $1 people shouldn't complain.

I agree with the rest of your post but this part am quoting is the part I don't agree with, there is absolutely no way you should expect someone not to complain if for example, they buy Bitcoin at a price of $20,000 and while still holding the Bitcoins, it's price drops to $1,  I honestly would bet my d!ck that you too @op would complain, it is important that when we make posts like this, we should try as much as possible to be realistic in our approach and assumptions.

if i bought btc at $20,000 and woke up one morning to see it dropped overnight down to $1, yeah i would probably complain. in the back of my mind i would know it's not going to get my money back because "don't invest more than you can afford to lose" is what people would be preaching to me if i did complain too much.

If people can complain when ever the price of their local currency drops against the US dollars (please note that local currencies has less volatility) how would you say they shouldn't, or expect them not to complain when the price of Bitcoin (which has a way way higher volatility) drops against the dollar?

because fiat is the default. everyone has to use that kind of. they don't have a choice. so they have a right to complain if its losing value.

The beautiful thing is that, Bitcoin is decentralized, so if anybody is complaining about its price, he or she is complaining to no one, he's not complaining to me or you, he's just complaining, this applies to us individually as well, when any of us complain about the price of Bitcoin, we complain to no one because Satoshi is not here anymore, nobody owns Bitcoin, so all and any complain doesn't change anything.

you're right, it doesn't change anything. but if people got tired of hearing them complain they would simply tell that person "dont invest more than you can afford to lose you shouldn't have invested more than you could afford to lose".

people know that the price of bitcoin will not drop to zero, they just complain about losing money

and to those people, we say "dont invest more than you can afford to lose" if they complain too much that is. another thing that person might hear is "need to do your due diligence before investing" even if they didn't think of it as an "investment" but just digital cash. well its digital cash but its price fluctuates.

[Smack That Ace]

For different reasons cryptocurrency price is much important. If bitcoin haven't got good increase in the price, surely this could've restricted people from investing on Bitcoin. Going through the users of bitcoin, it is possible to see majority of the users getting into the market understanding its increase in the price. Very few understand the underlying technology and get into market.

People flocked to invest in bitcoin because of its rapid price increase, bitcoin would not be widely available without the price volatility surrounding it. In the eyes of investors, their primary concern is to make a profit. Since few people invest in Bitcoin technology, the price is considered a big concern in the market. Once again, bitcoin is down over 60% in value compared to ATH, and it is easy to see people leaving the market and dumping their bitcoins.

[Don Pedro Dinero]

Since few people invest in Bitcoin technology, the price is considered a big concern in the market. Once again, bitcoin is down over 60% in value compared to ATH, and it is easy to see people leaving the market and dumping their bitcoins.

They are doing the opposite of what should be done: they buy high and sell when the price goes down. If you look at what rich people do, it's the opposite: at times like this they buy and when everybody is ecstatic, when it looks like the market is going to go up for the rest of eternity, that's when they sell.

<...>, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

I don't think you have thought this statement through. If the price were to come down to those levels, a lot of things would change. Starting with this forum, there would be a considerable reduction of traffic on it, that's for sure.

[Osteoid]

As a currency, bitcoin must have a value, and that value is reflected in its cost. To be a more effective currency, it must also be more stable, which it isn't.

The price of bitcoin directly influences the profitability of mining as well as the hashrate of the network. This is another factor that influences the security of bitcoin.

[Sebas.tian]

For different reasons cryptocurrency price is much important. If bitcoin haven't got good increase in the price, surely this could've restricted people from investing on Bitcoin. Going through the users of bitcoin, it is possible to see majority of the users getting into the market understanding its increase in the price. Very few understand the underlying technology and get into market.

Many Bitcoin users has used the price to determined when to buy bitcoins in the market to make a good profits and when to hold bitcoins not to experience losses in the season.  Now that many investors has understood how important the price is to investors in the community, it is very difficult for potential investors to miss their opportunity to buy bitcoins in the bearish season. They buy when the price is low in the market which is the best time for every potential investors to buy and hold for the market price to increase higher before they can sell to make a passive incomes from their investment.

[Zilon]

Bitcoin was intended to be a p2p cashless digital money transfer system and it still is. But the moment volatility came along with the asset many shifted more attention to making profit by constantly trading it for other commodities as prices kept fluctuating. But how does it sound that an asset that has the potential of giving back a high ROI is spent like a common token. Bitcoin deserves some respect so i keep and make more funds for myself.

[Thara20]

Like the majority of goods, investments, and other assets, the price of bitcoin is greatly influenced by supply and demand. There will always be only a maximum of  21 million bitcoins available in all. According to many experts, Bitcoin's value is greatly influenced by its limited supply, or scarcity.

As its white paper explains, Bitcoin was designed to be electronic cash.
 While people and businesses use or receive bitcoin payments as currency, some owners purchase it as an investment in the idea that it will grow in value. El Salvador has adopted Bitcoin as a currency, and PayPal facilitates Bitcoin transactions. But one of the great aspects of Bitcoin is total freedom. The original intent was abandoned mainly due to the currency's volatility. Similar to how individuals purchase gold, those who purchase Bitcoin do so with the expectation that it would maintain its value rather than using it to make purchases.

[tryingtolearn]

I am new to Bitcoin and it gives me a different perspective than those that are immersed in it.  

I've spent the last 3 days researching it and reading both sides - pro and con - and my take is that "Bitcoin" itself has been hijacked by a group of whales that seek to control it's price and convince younger generations that it is a way to "stick it to the man", make a quick buck, and preserve wealth.  There really is nothing to Bitcoin except a movement - and the real benefit is the technology below it that runs it (IMHO).  Think of a train carrying freight - Bitcoin is the freight and the train and tracks are the important part because that is the part that really has value.  

Just my 2 cents and again I'm new - but that is what I see.

[larry_vw_1955]

<...>, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

I don't think you have thought this statement through. If the price were to come down to those levels, a lot of things would change. Starting with this forum, there would be a considerable reduction of traffic on it, that's for sure.

bitcoin wasn't designed to make this forum popular. the forum was just put in place so people could talk about bitcoin. and whether or not this forum exists really doesn't have anything to do with bitcoin per se. bitcoin would be just fine without it. although its a nice place...

[gunhell16]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

The price of bitcoin is always important as long as there is an increase and decrease in the price that occurs in every exchange market that has traders, these are the buyers and sellers where without these there will be no movement of increase or decrease in value. its in the market. This is also the basis for traders whether they need to buy or sell depending on the coins he has in hand.

[FatFork]

Think of a train carrying freight - Bitcoin is the freight and the train and tracks are the important part because that is the part that really has value.  

Everything is important and therefore everything has value. Freight cannot be moved without a train and tracks, and a train and tracks have no purpose without the freight that needs to be moved.

Just my 2 cents and again I'm new - but that is what I see.

Surely, you sound like a no coiner, but at least you're curious, why else would you be here?

[CryptoHeadlineNews]

Everything about Bitcoin is important, but the price at any moment is more important for profit sake, because despite the fact that it's used for fast, easy and decentralized transaction, the price is needed for profit making since it has a volatile nature whose value goes up and down with respect to the US dollar

[Eugene Buck]

Bitcoin is the most important cryptocurrency. Bitcoin drives the value of many important coins as they are almost the replica of bitcoin in terms of blockchains. In simple words the whole cryptocurrency market value is dependent on bitcoin.

[wmaurik]

Everything about Bitcoin is important, but the price at any moment is more important for profit sake, because despite the fact that it's used for fast, easy and decentralized transaction, the price is needed for profit making since it has a volatile nature whose value goes up and down with respect to the US dollar

If you only look at the advantages of Bitcoin, then the price and value of Bitcoin itself should be placed on the first point because that is the part that you consider very important. I sometimes place the issue of price and value on Bitcoin itself on the second point, because for the first I place on the subject of Blockchain which has been successfully built and run very well so that the benefits felt by many people are very clear.

Because without that and a good concept, I don't think any product will be interested and won't have a good value and price in the market.

[mia_houston]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

What you say is true because the first purpose of bitcoin was to facilitate digital financial transactions in today modern era, but gradually that goal changed over time because many people saw bitcoin as an investment asset, in my opinion the change in the purpose of bitcoin may be due to the many regulations from many countries that legalize bitcoin as an investment asset rather than a financial substitute, and that is why many people prioritize and want to see bitcoin price at a high price because their current goal is to seek profit.

[fzkto]

Everything about Bitcoin is important, but the price at any moment is more important for profit sake, because despite the fact that it's used for fast, easy and decentralized transaction, the price is needed for profit making since it has a volatile nature whose value goes up and down with respect to the US dollar

If you only look at the advantages of Bitcoin, then the price and value of Bitcoin itself should be placed on the first point because that is the part that you consider very important. I sometimes place the issue of price and value on Bitcoin itself on the second point, because for the first I place on the subject of Blockchain which has been successfully built and run very well so that the benefits felt by many people are very clear.

Because without that and a good concept, I don't think any product will be interested and won't have a good value and price in the market.

I think a lot of people are not telling the truth when it comes to technology and blockchain. Especially because not only bitcoin has a blockchain, but other coins too. It's just that it was created first. Absolutely everyone is only interested in the value of bitcoin, only a few people need the technology, and a little more people use the technology in their daily lives.

[topman21]

The entire cryptocurrency is regulated by controlling the market of Bitcoin.Specifically if we look at the entire market we can see that the entire altcoin market has been dumped as the Bitcoin market has been dumped.So it is very important to hold the price of Bitcoin in cryptocurrency If you look at the market today, you can see that all markets have moved higher with Bitcoin gaining a little bit.This is why the price of Bitcoin is so important.

[minime0105]

Bitcoin price is important because bitcoin is a decentralized currency and without it own increment through people who invest for it and bring it to the board Bitcoin will lose it values. I believe that Bitcoin value is very special to people who invented for it because if the price dropped in the market, it affect the people who invented for it and people who hold and wait for it increment. The price is important to any one who' knows bitcoin

[MiF]

Bitcoin price is important to investors or crypto enthusiast it is because the entire crypto is depend on the bitcoin price means every investment is affected if btc drop or rise, so the price of bitcoin is very important. If btc fall we will say it is a bear season and if btc rise we will say we are now at bull season means the bitcoin is always the center of the cryptocurrency market.

[KingsDen]

The original idea of Satoshi which is in the white paper has changed alot and I doubt Satoshi ever imagined that bitcoin will be what it is today. But all things being equal what bitcoin has evolved to today is not a bad one. And it has helped in great adoption of bitcoin.

Just imagine that bitcoin is stable like fiat currencies many people will not be interested in bitcoin maybe except few who cares about privacy and know how to handle it.

Then if bitcoin is stable, traders won't be in the industry for trading and I wouldn't know what would be the fate of bitcoin.

[uneng]

Price is important, because there are people who see bitcoin as a tool to protect their money against inflation or any other kind of centralized parties' interventions. If bitcoin didn't have a decent value and growing potential on long run, people wouldn't feel incentivized to hold it and worse, they would fear using it, since the uncertainity of losing their money's value on the next second they acquired BTC would be huge.

Moreover, with a priceless bitcoin, what could be the reason for miners to keep running their operations, and consequently maintaining the network smooth and functional?

Price is important, profit is important. That is what moves a healthy capitalist society, since it's disponible and accessible for everyone.

[larry_vw_1955]

Price is important, because there are people who see bitcoin as a tool to protect their money against inflation or any other kind of centralized parties' interventions.

just because people see it in that way doesn't mean that's what it was originally meant to be. and thus that doesn't mean that's what its purpose is. the danger of trying to assign some purpose to something that it was not originally meant to be well you do that at your own risk. as long as people understand that then I guess they can use bitcoin however they want to.

If bitcoin didn't have a decent value and growing potential on long run, people wouldn't feel incentivized to hold it and worse, they would fear using it, since the uncertainity of losing their money's value on the next second they acquired BTC would be huge.

i'm sure there's people that prefer not to hold bitcoin since its price fluctuates and they don't want that type of exposure.

Price is important, profit is important. That is what moves a healthy capitalist society, since it's disponible and accessible for everyone.

Price may be important to people but whats even more important is if bitcoin has a useful purpose other than just "hodling" and selling it when the price gets high. Because if that's all it is, theres hundreds of stocks in the stock market you can do that with and those are companies that have actual products/services. Buy Amazon in the late 1990s for example. If all you care about is making profit. And having a higher price.

[uneng]

Price is important, because there are people who see bitcoin as a tool to protect their money against inflation or any other kind of centralized parties' interventions.

just because people see it in that way doesn't mean that's what it was originally meant to be. and thus that doesn't mean that's what its purpose is. the danger of trying to assign some purpose to something that it was not originally meant to be well you do that at your own risk. as long as people understand that then I guess they can use bitcoin however they want to.

And just because something wasn't originally meant to be, it doesn't mean it can't be important for people for that reason... You asked why bitcoin price is important and not what bitcoin original purpose is.

If bitcoin didn't have a decent value and growing potential on long run, people wouldn't feel incentivized to hold it and worse, they would fear using it, since the uncertainity of losing their money's value on the next second they acquired BTC would be huge.

i'm sure there's people that prefer not to hold bitcoin since its price fluctuates and they don't want that type of exposure.

Yes, there are different kinds of bitcoin adopters' profiles.

Price is important, profit is important. That is what moves a healthy capitalist society, since it's disponible and accessible for everyone.

Price may be important to people but whats even more important is if bitcoin has a useful purpose other than just "hodling" and selling it when the price gets high. Because if that's all it is, theres hundreds of stocks in the stock market you can do that with and those are companies that have actual products/services. Buy Amazon in the late 1990s for example. If all you care about is making profit. And having a higher price.

I think that is a very personal matter, and each person has the right to praise bitcoin's characteristics they most like and which of them are more useful for them on their individuality. I prefer to not point the finger to what people should like, dislike or ignore regards bitcoin.

[Agbe]

Bitcoin price is important because it is for business purpose. And also people have bought enough BTC and store or keep it in their Wallet to be sold to make profit. And also it is very much important for buyers and sellers. Buyers to buy it in a cheaper rate while sellers to sell it in a higher rate. So in all period of price of bitcoin is very much important. At all time, it is important to someone because if it is not favouring one person it favours another person.

[Marvell1]

Price is important, because there are people who see bitcoin as a tool to protect their money against inflation or any other kind of centralized parties' interventions. If bitcoin didn't have a decent value and growing potential on long run, people wouldn't feel incentivized to hold it and worse, they would fear using it, since the uncertainity of losing their money's value on the next second they acquired BTC would be huge.

Moreover, with a priceless bitcoin, what could be the reason for miners to keep running their operations, and consequently maintaining the network smooth and functional?

Price is important, profit is important. That is what moves a healthy capitalist society, since it's disponible and accessible for everyone.

In order to be more precise, we look at it as a means of generating profits, so its price will always take priority as the first factor to consider. I am sure that people will no longer be interested in bitcoin if it becomes stable and non-volatile.

It doesn't matter what the original purpose of bitcoin is anymore, as long as bitcoin is helping people and really useful to the world, is a profitable investment channel or a payment method...it's all just human behavior, bitcoin is still bitcoin.

[Jemzx00]

Price is important, because there are people who see bitcoin as a tool to protect their money against inflation or any other kind of centralized parties' interventions. If bitcoin didn't have a decent value and growing potential on long run, people wouldn't feel incentivized to hold it and worse, they would fear using it, since the uncertainity of losing their money's value on the next second they acquired BTC would be huge.

Moreover, with a priceless bitcoin, what could be the reason for miners to keep running their operations, and consequently maintaining the network smooth and functional?

Price is important, profit is important. That is what moves a healthy capitalist society, since it's disponible and accessible for everyone.

In order to be more precise, we look at it as a means of generating profits, so its price will always take priority as the first factor to consider. I am sure that people will no longer be interested in bitcoin if it becomes stable and non-volatile.

It doesn't matter what the original purpose of bitcoin is anymore, as long as bitcoin is helping people and really useful to the world, is a profitable investment channel or a payment method...it's all just human behavior, bitcoin is still bitcoin.

It actually depends on how an individual perceive what Bitcoin's purpose is. It's price might be important as it is a means of generating profit especially for those who defines bitcoin as an investment however for others it might be safe haven to avoid centralised parties intervention on their funds.

Also, I doubt that people will no longer be interested in case bitcoin will be stable and non-volatile since there are people who longed for bitcoin to be stable as it is a currency for them. Probably there will be people who will not be interested but there are others who will be interested when that time comes.

[sensimilia]

During the initial days people started using it for some purpose. Most of them say it is for gambling and darknet needs. By that time the real users well understood about the technology and the good about it. Later the usage started to increase as a result of its increase in price. If bitcoin haven't gained good price in the market, surely this couldn't have reached the present level of growth through the people understanding the goodness of its underlying technology.

Bitcoin was originally developed as a P2P payment system. Due to the development of current technology, its use has greatly increased, which has led to an increase in its price, with the increase in price, people are considering it as a resource. So people from different professions are investing in it. Regardless of the price of Bitcoin I think the original purpose of its creation has been successful.

[virasisog]

During the initial days people started using it for some purpose. Most of them say it is for gambling and darknet needs. By that time the real users well understood about the technology and the good about it. Later the usage started to increase as a result of its increase in price. If bitcoin haven't gained a good price in the market, surely this couldn't have reached the present level of growth through the people understanding the goodness of its underlying technology.

Bitcoin was originally developed as a P2P payment system. Due to the development of current technology, its use has greatly increased, which has led to an increase in its price, with the price increase, people are considering it as a resource. So people from different professions are investing in it. Regardless of the price of Bitcoin, I think the original purpose of its creation has been successful.

Bitcoin as a mode of transaction and as a currency has provided a real convenience for its users. However, since most investors took a profit from it, expect that they will always check its price. They will always aim to make a profit from it because it became the most profitable investment of all time. Bitcoin is continuously developing and emerging as a multifunctional currency so people will always look at its value.

[amishmanish]

people don't value anything which has no price. Satoshi designed bitcoin as a reward for investing energy and computational power in solving Bitcoin blockchain algorithms. This is called the proof of work. As the value of bitcoin increased more and more people joined in the Bitcoin blockchain, creating world's most successful blockchain ecosystem. Thus there is a lot at stake with bitcoin. SO its value naturally becomes important for many like us. 

[noormcs5]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

The price of bitcoin is directly linked to its popularity and demand. When the bitcoin price is high, it means that people are interested in bitcoin and hence it is in demand. Also since bitcoin captures 60% of the total market cap, a dump in the bitcoin causes the whole crypto market including altcoins a decline.
Although we all know that bitcoin prices will recover sooner, but no one is happy seeing bitcoin in a bear market.

[tygeade]

I think a lot of people are not telling the truth when it comes to technology and blockchain. Especially because not only bitcoin has a blockchain, but other coins too. It's just that it was created first. Absolutely everyone is only interested in the value of bitcoin, only a few people need the technology, and a little more people use the technology in their daily lives.

I agree that it's definitely not something people use daily. 90% of the people in the crypto world end up using crypto because they want to make a profit, and that's the risk of bitcoin but at the same time it works very well for them too.

What I do not truly understand is the fact that bitcoin could be used for so many other things, and that's like just 10% of it. Worldwide money transfer is still better in bitcoin than anywhere else. Sure you spend a few dollars and some time to get it, so it's not good for payment right there to buy a coffee, but it's still great idea that you would end up with something very profitable when you are sending from one nation to another.

[ingiltere]

alot of posts seem to be focused on the price of bitcoin.
but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

This is true when you use Bitcoin as a means of payment. But when you see it as an investment tool, of course, price becomes important. The fact that Bitcoin is 1 dollar or 100 thousand dollars doesn't affect peer-to-peer decentralized transactions, but if you bought Bitcoin as an investment, the price you get and the current price are of course important.
A high price indicates that it's used by larger masses and that demand is increasing. After all, there is a limited amount of Bitcoin. Low price also affects market dominance. If Bitcoin is the leading cryptocurrency, its price and marketcap should be higher than the others.

[larry_vw_1955]

Bitcoin price is important because it is for business purpose. And also people have bought enough BTC and store or keep it in their Wallet to be sold to make profit. And also it is very much important for buyers and sellers. Buyers to buy it in a cheaper rate while sellers to sell it in a higher rate. So in all period of price of bitcoin is very much important. At all time, it is important to someone because if it is not favouring one person it favours another person.

I understand alot of people treats bitcoin like a stock. you try and buy low and sell high. maybe even daytrade it. but the stockmarket is regulated. if bitcoin is going to be treated like a common stock then they need to put it on a stock exchange so it can be regulated too right? or is that the wrong way of thinking? regulation means the government has laws about how it can operate and things like that. can stop trading in it in times of high volatility. etc.

[GeorgeJohn]

Bitcoin price is the bond that holds cryptocurrency and everyone want to see the price to be accelerating, so i believe that Bitcoin price is very important to any hold and any investor, because the price determine the gain and lost which is involved for the industry, i believe that Bitcoin price is the primary obligation of any investor if I'm not mistaken from my perspective.

[darkangel11]

Bitcoin price is the bond that holds cryptocurrency and everyone want to see the price to be accelerating, so i believe that Bitcoin price is very important to any hold and any investor, because the price determine the gain and lost which is involved for the industry, i believe that Bitcoin price is the primary obligation of any investor if I'm not mistaken from my perspective.

Holds it where? Altcoins are surely link to the price of bitcoin but they aren't going to disappear if that correlation gets broken or the price changes. Most of these altcoins did not exist 5 years ago and it didn't change anything for bitcoin.

For most people price is simply an indicator of growth. They want bitcoin to become more popular and get more adoption and if that happens the price will go up. You don't have to read every piece of news to know if we are doing ok. It's enough to check the price from time to time.

[Rufsilf]

Why? You can't deny the fact that Bitcoin dominates the market and whatever it happens to this will give a huge impact on the market and altcoins had follow the trend. If you are investing in altcoins, checking the market and the price of Bitcoin is necessary in order for you to be aware of the situation and give you the chance to prepare for the possible changes.

In general: The main currency in the cryptocurrency markets is Bitcoin (fiat currency, ethereum, and tether are also used, but Bitcoin is the primary currency). Given this, alts tend to fund Bitcoin runs and Bitcoin tends to fund alt runs. Given this relationship, Bitcoin price movements (or lack thereof) tend to effect altcoin prices.

https://cryptocurrencyfacts.com/2017/12/15/the-relationship-between-altcoins-and-bitcoin-simple/

[Vaskiy]

Anything without value doesn't have demand. This is the universal fact. With cryptocurrency there is big technology that is backing the entire network. If a survey is taken on this, we'll come to know that not even 10% know about the technology. Everyone are here looking upon the price it has reached in the short time period.

Users at the beginning days doesn't think much about the market, but then they wanted the market to be bullish forever. Now, users have understood this is part of the market. In such a way slowly they'll understand the real value than the price.

[shynar_data40]

The value of cryptocurrency in the eyes of investors is ensured, among other things, by its long history. Bitcoin has been around for more than twelve years, and in all that time, it has not given any reason to doubt itself. This means that cryptocurrency buyers, among other things, see in it a mechanism that will not fail and will perform its own functions.

Now BTC is mostly perceived as a means to preserve capital, largely due to the constant long-term growth of the coin's price. In addition, due to the new crisis caused by the spread of COVID-19, Bitcoin is also seen as a profitable means of protecting against inflation.

[Mr.sprin]

Bitcoin is one of the digital currencies that is very suitable for investment because it is expensive and potentially in the future if bitcoin does not have a high exchange rate, of course bitcoin is not worth investing in, therefore the price of bitcoin is very important for bitcoin holders so don't be careless releasing bitcoins.

[BobK71]

Bitcoin price is the bond that holds cryptocurrency and everyone want to see the price to be accelerating, so i believe that Bitcoin price is very important to any hold and any investor, because the price determine the gain and lost which is involved for the industry, i believe that Bitcoin price is the primary obligation of any investor if I'm not mistaken from my perspective.

In this modern age everyone knows about Bitcoin. It is a matter of fact that many people today don't want to bring up the fact that why basically bitcoin is intended. Many investors recognize regardless of its internal use, they want to get their interest from here by trading or holding. They know Bitcoin coin is valuable and will increase in value in the future. Most investors evaluate it only from the trading side. When the price of Bitcoin fall down in the bearish market, all those investors suffer from anxiety. If everyone bought Bitcoin for its main purpose then Bitcoin would have reached a stable level.

[tygeade]

Anything without value doesn't have demand. This is the universal fact. With cryptocurrency there is big technology that is backing the entire network. If a survey is taken on this, we'll come to know that not even 10% know about the technology. Everyone are here looking upon the price it has reached in the short time period.

Users at the beginning days doesn't think much about the market, but then they wanted the market to be bullish forever. Now, users have understood this is part of the market. In such a way slowly they'll understand the real value than the price.

Value and price are different things. Bitcoin if you ask me is undervalued right now, but the price is around 20k, I believe it should be at least 50k probably 100k. The value of it is how you use it, like why is it valuable to you? That's the question.

And for the bitcoin case, from global payment ease, to investment, to secure of value and many other things, bitcoin has an amazing value that nothing else could do all together all at the same time. This is why it should be a lot more valuable than right now but people keep forgetting that. This is also why I am investing into it right now as well, I feel like it's the normal thing to do right now.

[Furious 7]

During the initial days people started using it for some purpose. Most of them say it is for gambling and darknet needs. By that time the real users well understood about the technology and the good about it. Later the usage started to increase as a result of its increase in price. If bitcoin haven't gained good price in the market, surely this couldn't have reached the present level of growth through the people understanding the goodness of its underlying technology.

Bitcoin was originally developed as a P2P payment system. Due to the development of current technology, its use has greatly increased, which has led to an increase in its price, with the increase in price, people are considering it as a resource. So people from different professions are investing in it. Regardless of the price of Bitcoin I think the original purpose of its creation has been successful.

Actually, with the increase in prices, it is not wrong if many people are here to take advantage because regardless of what bitcoin is, there are indeed many issues or negative things, but when talking about prices they are always being hunted.
Price is something that I think is valuable and most talked about right now for bitcoin after its success in achieving bitcoin's desired goals.

[harapan]

Do you really need to focus on the god damn price, see I must tell you if you focus on daily saving and investment of small amounts of cash into bitcoin then you will see the price increament if you can have some level of endurance as you do. If you save up $10 every week then you have an edge over those that doesn't have a dine with Bitcoin. Price are also good in the bear market to see it's value.

[BITCOIN4X]

Do you really need to focus on the god damn price, see I must tell you if you focus on daily saving and investment of small amounts of cash into bitcoin then you will see the price increament if you can have some level of endurance as you do. If you save up $10 every week then you have an edge over those that doesn't have a dine with Bitcoin. Price are also good in the bear market to see it's value.

Price is something that matters because bitcoin has supply and demand. It is a tradable asset although there are many other uses for bitcoin. People will not ignore prices especially because they are traders or investors.

You shouldn't focus on price if you are a long term bitcoin holder and accumulate it frequently. Of course that's a good thing for your type of person, but perhaps traders will tend to focus more on price.

[wmaurik]

Price is something that matters because bitcoin has supply and demand. It is a tradable asset although there are many other uses for bitcoin. People will not ignore prices especially because they are traders or investors.

It is very clear what you are saying because every asset that is considered to have value and is also conceptually good, there will always be supply and demand through the market and it will still be determined by the price. So the price of Bitcoin becomes very important to be seen by those who work as investors and also as traders.

You shouldn't focus on price if you are a long term bitcoin holder and accumulate it frequently. Of course that's a good thing for your type of person, but perhaps traders will tend to focus more on price.

Usually those who don't focus on the price of Bitcoin are the developers of new cryptocurrency products with different concepts, because they basically also really like Bitcoin and also try to build new products in the hope that they can be as valuable and valuable as Bitcoin.

[cloudfir3e]

the importance of the bitcoin price for investors and traders because bitcoin exerts a lot of influence and control on most of the altcoins that are spread on the crypto market.

therefore altcoin prices are usually measured and tend to follow the ups and downs of Bitcoin prices.
These pioneering crypto assets may be flanked by more than 3,000 competitors, but still account for more than half of the entire crypto asset market cap.
The crash of the bitcoin price will also affect a significant downturn in the cryptocurrencies market

[Codswallop]

It depends on the people how they want to use their bitcoins. Those who have lost their money and are willing to recover are the ones who are mostly worried about the price. Some see it as a short-term investment and for them price is crucial. For long term holders price isn’t a matter of concern.

[doomloop]

You can't deny the fact that Bitcoin dominates the market and whatever it happens to this will give a huge impact on the market and altcoins had follow the trend. If you are investing in altcoins, checking the market and the price of Bitcoin is necessary in order for you to be aware of the situation and give you the chance to prepare for the possible changes.

I so much love how Bitcoin operates, starting from the Blockchain technology down to every other thing like it’s volatility.. It confidently dominates the market and decides what happens to the market with the performance of altcoins inclusive. As a matter of fact, you must have already known by now that the main currency in the cryptocurrency markets is Bitcoin.

Basically, price is important for the simple reason of comparing; people may not use price for this exact reason still valuing is just a way of identifying and comparing hence price for bitcoin is most important one in my opinion.

[minime0105]

It depends on the people how they want to use their bitcoins. Those who have lost their money and are willing to recover are the ones who are mostly worried about the price. Some see it as a short-term investment and for them price is crucial. For long term holders price isn’t a matter of concern.

When you check bitcoin price this time around even see that the prices for sweating at the market and the price is not constant so whoever that invested in cryptocurrency especially Bitcoin his objective or aim this period is make sure that the price of cryptocurrency has regained or increase so that it investment will be profitable and the beneficiary to him or to the investor so whoever that invested all that have coin especially Bitcoin mindset is for bitcoin to grow more and more so that profit will be made for any slight investment

[larry_vw_1955]

It seems to me that people are primarily interested in bitcoin speculation, i.e. buying it cheaper and selling it higher. It is normal, it is a human desire to improve one's financial situation. But even if you consider the value of bitcoin as a value transfer mechanism, all the value in the world is still measured in other currencies, such as dollars. So the more valuable bitcoin is, the less you have to spend it to buy something.

one thing we have to be careful of is ponzi schemes. when something is not tied to fiat and the market determines its price, it can turn into a ponzi scheme. for example someone invents a coin that is inflationary so that the supply is not fixed but growing every year. say at a fixed rate of 20%. that's a ponzi scheme. the question really is, what % makes it a ponzi scheme such that any lower % is legitimate?

[wmaurik]

It depends on the people how they want to use their bitcoins. Those who have lost their money and are willing to recover are the ones who are mostly worried about the price. Some see it as a short-term investment and for them price is crucial. For long term holders price isn’t a matter of concern.

Long-term holders will also see price as important even though they don't pay attention to it every day because in the end long-term holders will also sell what they have held for a long time so the issue of price will also be very important to them. Because the goal is also almost the same, namely looking for profits after holding, both in the short term and in the long term. So the price is always an important point even though it is not placed on the main thing.

[BITCOIN4X]

It is very clear what you are saying because every asset that is considered to have value and is also conceptually good, there will always be supply and demand through the market and it will still be determined by the price. So the price of Bitcoin becomes very important to be seen by those who work as investors and also as traders.

I hope you don't misunderstand what I'm explaining, bitcoin become valuable on demand. The higher the demand that occurs in the market, the higher the price, that is the law of the market for any tradable asset. The value of bitcoin is highly dependent on supply and demand regardless of its initial concept as a currency. It is traders, investors and adopters who keep this asset valuable, so there must be a correlation.

Usually those who don't focus on the price of Bitcoin are the developers of new cryptocurrency products with different concepts, because they basically also really like Bitcoin and also try to build new products in the hope that they can be as valuable and valuable as Bitcoin.

What I mean is, long-term investors or long-term holders are those who are not often in front of the monitor to monitor prices. They don't focus on price or trading because they only target long term results. About altcoin developers, that's a different matter and I don't think they should be a variable in this case.

[Derbind]

The reason why there are so many posts about the bitcoin price here is primarily due to the reason why people are going into bitcoin. Most people will begin investing in bitcoin with their fiat money, comparing the value of bitcoin to the fiat on a daily basis, and they will wait for some profits over their investments to return to the fiat they put in. If people examine closely, they will see that if they truly believe in bitcoin being inflation, they will not need to exchange back to fiat, because regardless of the price of each bitcoin, one bitcoin is always one bitcoin till you sell it.

[evtwumasi]

I really like your point. A lot of people get it wrong that bitcoin is only here for us to cut barriers to financial institution restrictions. As for me I always store my wallet in Bitcoin irrespective of whether it is bearish or bullish.

I have friends who out of panic attack during the COVID-19 intensity withdrew all their BTC because they feared 

It's like telling me to go withdraw all my bank accounts from my local bank because there's a tsunami. Luckily for me, with the up and down in BTC price my wallet still sits on mybitstore . I would always incorporate BTC as a saviour to resolve this financial institution mess.

[larry_vw_1955]

It's like telling me to go withdraw all my bank accounts from my local bank because there's a tsunami. Luckily for me, with the up and down in BTC price my wallet still sits on mybitstore . I would always incorporate BTC as a saviour to resolve this financial institution mess.

are you plugging a phone app? android/iphone apps are maybe ok for small amounts but that's about it. by the way, never heard of mybitstore and certainly wouldn't use it based on one person's post.

[Trapezium]

Bitcoin was intended to be a p2p cashless digital money transfer system and it still is. But the moment volatility came along with the asset many shifted more attention to making profit by constantly trading it for other commodities as prices kept fluctuating. But how does it sound that an asset that has the potential of giving back a high ROI is spent like a common token. Bitcoin deserves some respect so i keep and make more funds for myself.

I think this is just human nature. Why would anyone think of the aim of bitcoin if they are at a loss? Though bitcoin is a long term asset and should be treated as one.

[8rch7]

Whatever business we will run, it is certain that every investor will see the price, and see the developments that occur, and trace it first before they enter into any business, as well as bitcoin, of course, everyone will question the price of bitcoin and it is very important for us to learn In the past, bitcoin did not have a fantastic price, even 1 bitcoin was only equivalent to two slices of pizza, but now the price of bitcoin has soared, and many investors have turned to bitcoin, in my personal opinion maybe because of that factor the price of bitcoin is very important.

[Rigon]

Knowing the value of Bitcoin is an important topic for everyone. Knowing the value of Bitcoin is very important especially for those who invest in short term and long term.The important thing is to know whether the price at which the Bitcoin was invested later remained at that price.Again if you are going to trade on a trading platform then also in that case it is most important to hold the value of Bitcoin.Because trading is done on the value of Bitcoin and profit and loss are held on the value of Bitcoin.That is why it is most important to know the value of Bitcoin.

[EarnOnVictor]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

There are opportunities inside an opportunity, that is what Bitcoin has created. The decentralized mode of payment might be the initial and main goal of Bitcoin but the cryptocurrency has proven itself to be more beneficial to the extent that its first purpose is now a small fraction of the functionality of it.

 We can't blame that on anything, it now depends on individuals and what they intend to do with their Bitcoin among the many ways it could be used (Payment, investment, trading, lending etc.)

[wmaurik]

I think this is just human nature. Why would anyone think of the aim of bitcoin if they are at a loss? Though bitcoin is a long term asset and should be treated as one.

Human nature that only thinks about profit through Bitcoin will indeed ignore the purpose of Bitcoin so it must also be considered as a very natural thing because they only think about profit and have to take care of every asset so as not to lose value. Which means they just want to make a profit through faster sales without thinking about holding back in the long term.

[dlightag]

Bitcoin is the number one coin in the cryptocurrency industries, that is why many people are conscious of bitcoin price, as we all know that bitcoin created as a digital asset, which many people are into the business as buying and selling through means of peer to peer wire money transfer across the region and is faster and smarter with a less charge fees. Having said that, bitcoin have many thing to do with a decentralized finance in ecosystem. 

[coinerer]

Bitcoin is the number one coin in the cryptocurrency industries, that is why many people are conscious of bitcoin price, as we all know that bitcoin created as a digital asset, which many people are into the business as buying and selling through means of peer to peer wire money transfer across the region and is faster and smarter with a less charge fees. Having said that, bitcoin have many thing to do with a decentralized finance in ecosystem. 

Bitcoin now is a trusted and useful digital currency in worldwide and many big companys and billionaire person now invested in bitcoin and they believe bitcoin is a legal currency and Bitcoin is now being used for various transactions all over the world and many are hoarding it as a strong asset. So i think bitcoin price is important

[theCommittalist]

I think this is just human nature. Why would anyone think of the aim of bitcoin if they are at a loss? Though bitcoin is a long term asset and should be treated as one.

Human nature that only thinks about profit through Bitcoin will indeed ignore the purpose of Bitcoin so it must also be considered as a very natural thing because they only think about profit and have to take care of every asset so as not to lose value. Which means they just want to make a profit through faster sales without thinking about holding back in the long term.

We want as many private individuals around the world as possible to be holding some coin so the whales from WS can't buy it all up to suffocate its practical use which is of course as a form of currency. In the short term I can imagine how those guys see that as a smart move to protect their assets which are bound up in USD.

[Rana590]

Bitcoin is the number one coin in the cryptocurrency industries, that is why many people are conscious of bitcoin price, as we all know that bitcoin created as a digital asset, which many people are into the business as buying and selling through means of peer to peer wire money transfer across the region and is faster and smarter with a less charge fees. Having said that, bitcoin have many thing to do with a decentralized finance in ecosystem. 

Bitcoin now is a trusted and useful digital currency in worldwide and many big companys and billionaire person now invested in bitcoin and they believe bitcoin is a legal currency and Bitcoin is now being used for various transactions all over the world and many are hoarding it as a strong asset. So i think bitcoin price is important

In this digital world, people are looking for digital payment gateway and for it, Bitcoin is the best choice because it is safe, secure, fast and decentralized. People can use it because it is not complex and it can help in different way. People are holding it for future and many people are using it as investment.

[Ebede]

The price of Bitcoin is very very important so I believe that if you don't have the value of bitcoin at home you will not try to invest into cryptocurrency so investing in cryptocurrency the most people to know the actual price to start within  it. The price of Bitcoin push people to buy cryptocurrency that is why most at times many people buy cryptocurrency when the prices is up

[TheUltraElite]

The price of Bitcoin is very very important so I believe that if you don't have the value of bitcoin at home you will not try to invest into cryptocurrency so investing in cryptocurrency the most people to know the actual price to start within  it.

One can argue that bitcoin was never meant to be traded to begin with - the fact that most countries do not allow bitcoin to be used without restrictions is why the owners of bitcoin moved to other means to using their assets, namely trading and gambling.

Price of 1BTC is always 1BTC, the fiat price is only a representation of the current trades going on and their output result on the price. So keeping a tab on lower price to buy is natural for traders. For them the fiat price is important, still the actual price of a bitcoin, like I said, is fixed.

In this digital world, people are looking for digital payment gateway and for it, Bitcoin is the best choice because it is safe, secure, fast and decentralized. People can use it because it is not complex and it can help in different way. People are holding it for future and many people are using it as investment.

We have not reached that extent that every shop carries a bitcoin POS machine, it will take time to reach that level. But saying that it is not complex, is not justified. For a new entrant, bitcoin is way complex to secure and to understand how to use.

[minairia3]

Bitcoin is the number one coin in the cryptocurrency industries, that is why many people are conscious of bitcoin price, as we all know that bitcoin created as a digital asset, which many people are into the business as buying and selling through means of peer to peer wire money transfer across the region and is faster and smarter with a less charge fees. Having said that, bitcoin have many thing to do with a decentralized finance in ecosystem. 

Bitcoin now is a trusted and useful digital currency in worldwide and many big companys and billionaire person now invested in bitcoin and they believe bitcoin is a legal currency and Bitcoin is now being used for various transactions all over the world and many are hoarding it as a strong asset. So i think bitcoin price is important

The fact that we, as well as the companies and billionaires who invest in bitcoin, expect its price to rise, should be seen as a primary concern. Bitcoin will never be noticed if its value is low or worthless. It's true.

A lot of people heard and knew about bitcoin when its price was very cheap and most of them didn't care about it until its price started going up. Bitcoin interest will only grow once the bitcoin price rises again.

[ChiBitCTy]

Price to me is mainly important as it’s an indicator of the health of the coin overall. Not just health but it’s an indicator of adoption.  The more people that adopt bitcoin, the more it’s price will rise with it.  So they go hand in hand. Otherwise to me bitcoin is far less of an investment as it is a financial breakthrough tool/instrument.

[harapan]

The price of bitcoin is just as important as the price of any given commodity out there. The price of bitcoin or any commodity is there to show it’s value. Plainly put, you can say the price of bitcoin is important as it shows the value of the commodity. And with the price either increasing or decreasing, the value also increases or decreases as the case may be.
Price are determined by the forces of demand and supply and hence, the more adoption of bitcoin by individuals and corporations alike, the more likely the price of bitcoin would climb higher.

[wmaurik]

We want as many private individuals around the world as possible to be holding some coin so the whales from WS can't buy it all up to suffocate its practical use which is of course as a form of currency. In the short term I can imagine how those guys see that as a smart move to protect their assets which are bound up in USD.

That's great, but until now there are still many individuals around the world who still don't like holding more coins and should also start buying the best coins like Bitcoin. Because there are still many people who need to understand that Bitcoin is the best and they also have to understand that the whales are still after the best coins at low prices to buy and hold before they are converted into USD.

[Jo_Liu]

First, let's say what determines Bitcoin's price? Unlike other "money",Bitcoin is not issued by a central bank or backed by a government; therefore, the monetary policy tools, inflation rates, and economic growth measurements that typically influence the value of a currency do not apply to Bitcoin. Bitcoin acts as more of a commodity being used to store value, so the following factors influence its price:

The supply of Bitcoin and the market’s demand for it;
The cost of producing a bitcoin through the mining process;
The number of competing cryptocurrencies;
Regulations governing its sale and use;
Media and news;

[Alfredo_jsc]

Bitcoin demonstrates some attributes for currency, but it's main source of value lie's in it's restricted supply and increasing demand,as we've seen, demand is the main reason driving the price of bitcoin.as long as there is growing demand the price of Bitcoin will increase. Demand is driven by other causes such as inflation and crypto adoptio[Suspicious link removed]ice is primarily affected by it's supply, the market's demand for it availability, competing cryptocurrencies, and investor sentiment.

[Kelvinid]

Price to me is mainly important as it’s an indicator of the health of the coin overall. Not just health but it’s an indicator of adoption.  The more people that adopt bitcoin, the more it’s price will rise with it.  So they go hand in hand. Otherwise to me bitcoin is far less of an investment as it is a financial breakthrough tool/instrument.

Even in the other side of crypto, the price is the common basis to see if the project is growing or not. Nobody would invest in Bitcoin if they saw the price continue to dump and no chance to rise, I don't someone will take the risk. As we make business in crypto and do invest, checking the price really matters a lot. Perhaps, we have this idea of "buy low and sell high" which means we earn profit from the moving price of the market.

[Luzin]

Even in the other side of crypto, the price is the common basis to see if the project is growing or not. Nobody would invest in Bitcoin if they saw the price continue to dump and no chance to rise, I don't someone will take the risk. As we make business in crypto and do invest, checking the price really matters a lot. Perhaps, we have this idea of "buy low and sell high" which means we earn profit from the moving price of the market.

Yes if bitcoin is stable maybe it will be boring. It seems that it is what makes the newcomers interested. They take advantage of it to make a profit. In addition Bitcoin is the mother of crypto. Bitcoin will have an effect on other cryptos. It's been proven and I've gone through two halvings. Bitcoin price movements have an impact on the price movements of other altcoins. Indeed, several times this patern changed but not too much.

[theCommittalist]

We want as many private individuals around the world as possible to be holding some coin so the whales from WS can't buy it all up to suffocate its practical use which is of course as a form of currency. In the short term I can imagine how those guys see that as a smart move to protect their assets which are bound up in USD.

That's great, but until now there are still many individuals around the world who still don't like holding more coins and should also start buying the best coins like Bitcoin. Because there are still many people who need to understand that Bitcoin is the best and they also have to understand that the whales are still after the best coins at low prices to buy and hold before they are converted into USD.

With the name of this website plus that of this thread I thought we could assume that 'coin' meant Bitcoin. Maybe I was wrong.

I stop short of calling myself a maximalist but I only take Bitcoin seriously for the foreseeable future as a trading asset due to its functionality as working currency in the big wide world.

Like I said I am not quite a maximalist, but, fuck normies and fuck shitcoins

[theCommittalist]

Bitcoin demonstrates some attributes for currency, but it's main source of value lie's in it's restricted supply and increasing demand,as we've seen, demand is the main reason driving the price of bitcoin.as long as there is growing demand the price of Bitcoin will increase. Demand is driven by other causes such as inflation and crypto adoptio[Suspicious link removed]ice is primarily affected by it's supply, the market's demand for it availability, competing cryptocurrencies, and investor sentiment.

You are failing to understand that people do not want anything that is useless, no matter how limited the supply of it is.

Bitcoin actually works as a currency all over the world every day. People use it for trading with one another, & that is why it is in demand. We are talking money here & money is for exchanging things of value. Part of the value of goods & resources, products & services is in their scarcity, their limited supply, so that aspect of Bitcoin also helps to keep it realistically involved with a working economy.

[dataispower]

If you look at the situation of cryptocurrency you understand that cryptocurrency on it own have a preferential value which when the value drop the market of cryptocurrency will be disvalue. I believe that cryptocurrency can never depart from securing its value because it is very very important but without positive information of Bitcoin rising many people who is investor will not value cryptocurrency to the extent of putting more money into the investment. The value of future policy is very important to every average investor because the value being the prize is what attracts any investor to invest more into cryptocurrency general.

[Baron Amelia]

This is what makes Bitcoin different. How much of it was written into Bitcoin's code will live forever. We can determine how many people there are now and how many people will be in the future. This makes Bitcoin the only asset on the planet whose supply we can prove is limited and fixed

[JayTrain]

Because many altcoins and, in principle, the entire cryptocurrency market is tied to bitcoin, almost all trading pairs on leading exchanges with btc, which is why I think the price of bitcoin is so important, and a strong opinion of the market direction vector for bitcoin has already been formed.

[bestcoins1]

Because many altcoins and, in principle, the entire cryptocurrency market is tied to bitcoin, almost all trading pairs on leading exchanges with btc, which is why I think the price of bitcoin is so important, and a strong opinion of the market direction vector for bitcoin has already been formed.

That is one of them, because Bitcoin can still have more influence in the market than many altcoins. So clearly the value and price of Bitcoin is very important to continue to exist in the market. In addition, Bitcoin has also become the first famous coin in the cryptocurrency space and makes it very valuable until now. So obviously the Bitcoin price is a very important thing to look at.

[Tony116]

Because many altcoins and, in principle, the entire cryptocurrency market is tied to bitcoin, almost all trading pairs on leading exchanges with btc, which is why I think the price of bitcoin is so important, and a strong opinion of the market direction vector for bitcoin has already been formed.

That is one of them, because Bitcoin can still have more influence in the market than many altcoins. So clearly the value and price of Bitcoin is very important to continue to exist in the market. In addition, Bitcoin has also become the first famous coin in the cryptocurrency space and makes it very valuable until now. So obviously the Bitcoin price is a very important thing to look at.

There is a simple reason for this, as we invest in bitcoins and other cryptocurrencies for profit, so high demand will lead to a rise in bitcoin's price. Bitcoin is well known in recent years for its high volatility. The higher the price, the more people notice, leading to an increase in demand. When demand is high, price will be a top concern. Nowadays, everyone in the market is only looking at the bitcoin price, no one cares what the technology of bitcoin is.

[yazher]

That is one of them, because Bitcoin can still have more influence in the market than many altcoins. So clearly the value and price of Bitcoin is very important to continue to exist in the market. In addition, Bitcoin has also become the first famous coin in the cryptocurrency space and makes it very valuable until now. So obviously the Bitcoin price is a very important thing to look at.

You can really tell when bitcoins increase their price when you see the market all green at some point, you can make sure something positive has happened to bitcoins no doubt about it. That's how important the bitcoins price is, that's why crypto people really work with one another to promote the use of it as a means of payments and other necessary use of it. Because when bitcoins are successfully implemented in some countries and they successfully use them as their means of payment, the price will quickly get increase and so as most of the altcoins.

[Pmalek]

i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

It was designed to be a P2P payment method and it's also used as a store of value. But the future price is an essential element of it all. If the price of bitcoin depreciates month after month/year after year, it's not a good store of value. If it's supposed to make international payments faster and cheaper, its users don't like to see a drastic downtrend. What good does it do if it makes international payments easier if my $1000 in BTC sent on Monday is only worth $800 on Thursday?   

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

The network works the same way today as it did when BTC was trading at $69.000, and it's going to work the same way if we fall down to $10.000 as well. You are right about that. But you can bet your ass that people will complain if the value crashes to $1. Look at it from your own perspective, would you rather open your wallet and see a 5 or 6 digit value in USD or a 2 digit one? Before you say it doesn't matter because 1 BTC = 1 BTC, it isn't really. The buying power of 1 BTC at $24k is significantly different from the one at $1.

[Ziskinberg]

If you look at the situation of cryptocurrency you understand that cryptocurrency on it own have a preferential value which when the value drop the market of cryptocurrency will be disvalue. I believe that cryptocurrency can never depart from securing its value because it is very very important but without positive information of Bitcoin rising many people who is investor will not value cryptocurrency to the extent of putting more money into the investment. The value of future policy is very important to every average investor because the value being the prize is what attracts any investor to invest more into cryptocurrency general.

And people had come and invested in Bitcoin because of its promising returns based on the price growth. And they are right, I was nobody would care about Bitcoin if they know they can't make money from it but just ignored it. Considering the continuous price increase of Bitcoin, more and more new investors gather in the crypto market in preparations for the next ATH. I'd say that missing this time is a big regret as we can see this back again many years from now ( or may not).

[danadc]

Bitcoin is the number one coin in the cryptocurrency industries, that is why many people are conscious of bitcoin price, as we all know that bitcoin created as a digital asset, which many people are into the business as buying and selling through means of peer to peer wire money transfer across the region and is faster and smarter with a less charge fees. Having said that, bitcoin have many thing to do with a decentralized finance in ecosystem. 

Bitcoin now is a trusted and useful digital currency in worldwide and many big companys and billionaire person now invested in bitcoin and they believe bitcoin is a legal currency and Bitcoin is now being used for various transactions all over the world and many are hoarding it as a strong asset. So i think bitcoin price is important

In this digital world, people are looking for digital payment gateway and for it, Bitcoin is the best choice because it is safe, secure, fast and decentralized. People can use it because it is not complex and it can help in different way. People are holding it for future and many people are using it as investment.

The price that bitcoin has in these parts is significant, it wants and gives a lot of information to people who don't know anything or who don't know bitcoin, a person who doesn't know bitcoin is because they don't like money or it's something simple, no read news, a person who is wealthy can afford to buy bitcoin right now and be so lucky that in a short time they will have double or triple it depending on their investment, I think this is still not understood by people or most people who only think about saving in a bank.

[larry_vw_1955]

Considering the continuous price increase of Bitcoin, more and more new investors gather in the crypto market in preparations for the next ATH. I'd say that missing this time is a big regret as we can see this back again many years from now ( or may not).

For one thing, bitcoin hasn't had a "continuous price increase". The higher bitcoin goes in price, the worse it looks from an investors perspective I would think. There were so many people saying bitcoin was gonna go to $250,000 or $500,000 within a year or two. That hasn't happened.

[harapan]

For one thing, bitcoin hasn't had a "continuous price increase". The higher bitcoin goes in price, the worse it looks from an investors perspective I would think. There were so many people saying bitcoin was gonna go to $250,000 or $500,000 within a year or two. That hasn't happened.

Well, the price of bitcoin has increased compared to the last couple of weeks so it’s safer to say that bitcoin has a continuous price increase. Why the increment in price? The more bitcoin gets accepted, adapted and used worldwide, the more likely the price increase.
And while pricing is generally used to know the value of goods and services, the price of bitcoin may very well increase over the next few years to reflect its value.

[lizarder]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

Investing in Bitcoin is not like buying some other coins, because the process of buying bitcoins takes time, otherwise people have to wait for a bigger strengthening of the issued capital, some people are involved in crypto investments and especially bitcoins are just looking for profit, they don't care with any gap to the future of bitcoin or bitcoin's initial design focused solely on transferring digital money in a decentralized manner.

That's why people never want to know about the initial concept, they pay attention and focus only on profit

[mumang siat]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

The freedom to invest in the crypto space makes people not so focused on real decentralization, they just come and invest their money for profit, the combination is greatness and freedom in carrying out investments here.
People use Bitcoin according to their respective tastes and compatibility, so things that are considered important are no longer the main concern, because they only focus on maximizing income.

[franky1]

the 4 year cycle of bitcoin where the price range is higher.. and the underlying value is high than the previous cycle is proof that bitcoin is deflationary

then look at fiats inflationary system
where every 4 years people LOSE value where their $10 min wage in america buys them less products compared to 4 years ago

should people ignore fiat inflation, not care about inflation and just carry on treating $10 as fair income even if if buys them less..
.. ummm no. people do care.

so the opposite applies people do care when they see their btc buy them more things every 4 years at a rate that outpaces the fiat rates loosing of value.

people still use fiat even though inflation loses them value and still uses btc even when it gains them value

i personally use bitcoin, and as a side note i can talk about the price.
its not a one or the other, use or save.. save or lose.. bitcoin is open for many people to view bitcoin in many ways and many ways at the same time.

but bitcoin increase in underlying value. (the 4 year cycles LOW being higher than the previous cycles LOW) is a good thing for all..

yes some idiots of greed scream and shout about temporary speculative bubble events about the PRICE ATH
but they are not excited for bitcoin. they are excited to exit bitcoin to return to fiat.
and give those fiat lovers a few years they will regret their decision. as their greed at last ATH. leaves them holding a bag of fiat, which over years buys them less things. whilst holding bitcoin would have to them more goods to buy if they didnt exist early

[wmaurik]

With the name of this website plus that of this thread I thought we could assume that 'coin' meant Bitcoin. Maybe I was wrong.

I stop short of calling myself a maximalist but I only take Bitcoin seriously for the foreseeable future as a trading asset due to its functionality as working currency in the big wide world.

Like I said I am not quite a maximalist, but, fuck normies and fuck shitcoins

There is nothing wrong with your assumption. I can still understand even if you don't say it maximally, but there are still some people who think that the coin is not only Bitcoin even though in my mind and you are Bitcoin and nothing else. Because other coins will still not be able to develop to its full potential when Bitcoin stops moving in the market and it still has a very big influence in the market.

[Esther C]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

It controls the market as a chain reaction.
It regulates the other cryptocurrencies

[Sebas.tian]

For one thing, bitcoin hasn't had a "continuous price increase". The higher bitcoin goes in price, the worse it looks from an investors perspective I would think. There were so many people saying bitcoin was gonna go to $250,000 or $500,000 within a year or two. That hasn't happened.

Well, the price of bitcoin has increased compared to the last couple of weeks so it’s safer to say that bitcoin has a continuous price increase. Why the increment in price? The more bitcoin gets accepted, adapted and used worldwide, the more likely the price increase.
And while pricing is generally used to know the value of goods and services, the price of bitcoin may very well increase over the next few years to reflect its value.

Yes, many countries are very ready to adapt or legalized Bitcoin in their various countries because they discovered that those that legalized Bitcoin in their countries are seriously doing well in their land. Now that people are still experiencing bearish season, it will be favourable to those countries that want to accept Bitcoin in their countries for their citizens to have full access to it, so that they can make progress like other countries that accepted bitcoin in their countries are making progress. The price of Bitcoin has increased to $24,000 few hours ago, showed that the price will definitely reach $50,000 before the end of this month for people to use the opportunity to recover from their losses.

[Republikcoin.com]

Not having the price of bitcoin is useless any forms because bitcoin itself was created to have its value demanded by the market's price. So, that's why price is important next to technology adoption stuff because people will look first for the price before the technological aspects. Bitcoin has lots of uses and the adoption itself will make the price pull upwards.

In the beginning, every product that already had a price was seen from its usability and technology. Because when a product that does not have a price and use exists, the price will be there when there is a lot of demand in the market, which means that enthusiasts can increase by knowing the advantages and uses of the product. Because without any special uses and advantages, the price will also be difficult to form because the demand is not increasing. Likewise with Bitcoin which basically already has advantages through technology and usability, which in the end becomes valuable and gets more enthusiasts every year.

[harapan]

In the beginning, every product that already had a price was seen from its usability and technology. Because when a product that does not have a price and use exists, the price will be there when there is a lot of demand in the market, which means that enthusiasts can increase by knowing the advantages and uses of the product. Because without any special uses and advantages, the price will also be difficult to form because the demand is not increasing. Likewise with Bitcoin which basically already has advantages through technology and usability, which in the end becomes valuable and gets more enthusiasts every year.

Every product manufactured or commodity and any service rendered must have some sort of measurement of value and that would help to tell how valuable it is recognized by society. Therefore, a price of any given commodity brings to light it’s value. The forces of demand and supply affects a price of any given commodity. Bitcoin isn’t an exception. While demand would likely increase with the growing adoption numbers, the price would most likely go up as well. So acquire and hold onto it with both hands.

[sulendra12]

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

That's what people been told mostly intended to use for, probably they don't know what is even the real use case of Bitcoin as most of the people looking Bitcoin as their investment instruments at most which is fine because it's their choice to use Bitcoin whatever they want to. Albeit when the price was really crashed at any moment, people would leave immediately.

[larry_vw_1955]

The price of Bitcoin has increased to $24,000 few hours ago, showed that the price will definitely reach $50,000 before the end of this month for people to use the opportunity to recover from their losses.

it doesn't "show" anything. all it shows is what happened. nothing more. this type of irresponsible statements is what cause newbies to load up on a sure thing. also it's alot harder for bitcoin to double in price than it is for a lower priced coin all other things being equal, due to the amount of money required to move it. so keep that in mind.

[theCommittalist]

With the name of this website plus that of this thread I thought we could assume that 'coin' meant Bitcoin. Maybe I was wrong.

I stop short of calling myself a maximalist but I only take Bitcoin seriously for the foreseeable future as a trading asset due to its functionality as working currency in the big wide world.

Like I said I am not quite a maximalist, but, fuck normies and fuck shitcoins

There is nothing wrong with your assumption. I can still understand even if you don't say it maximally, but there are still some people who think that the coin is not only Bitcoin even though in my mind and you are Bitcoin and nothing else. Because other coins will still not be able to develop to its full potential when Bitcoin stops moving in the market and it still has a very big influence in the market.

I get what you mean but it's not just market forces at work in the traditional sense. This is a sensitive & emergent asset. And I have had the same convo many times about the term "cryptocurrency" which I don't have a problem with per se.

You know I was thinking about this the other day though, what's going on in the international economy around the world, particularly a bank in Beirut.

And it made even more sense to me in that context how maximalists are sort of warning people with serious need against the dangers of anything other than Bitcoin when it comes to storing capital in crypto.

The most important thing is decentralization, the principle of private (or pseudonymous) ownership. It is dangerous & might turn out pretty sad if we sent the message that the most financially threatened people in the world were just as safe putting their fiat into any old form of cryptocurrency besides BTC, & until this is widely & properly understood & appreciated we in the developed world have a duty to shout about it.

[retreat]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

the majority of bitcoin buyers today are people who buy them on a fiat basis with the aim of increasing the value they invest in, so that when the price of bitcoin drops, they will immediately complain and panic. In addition, when the price of bitcoin drops, the media is busy spreading the news very quickly so that the panic grows.

[Detritus]

For Bitcoiners, I think different thing matters to everyone individually. Let's take for example i invested $10k into Bitcoin, during bear market my asset lose to $4k, do you think I would not be curious about the price?. True! Bitcoin is designed as a way to transfer digital cash in a decentralized manner but everyone can also think of it the way it matters to them. Bitcoiners must note that volatility is one sure thing.

[larry_vw_1955]

the majority of bitcoin buyers today are people who buy them on a fiat basis with the aim of increasing the value they invest in, so that when the price of bitcoin drops, they will immediately complain and panic.

maybe because someone told them bitcoin is going to $250,000. and in their mind that meant "straight up".

For Bitcoiners, I think different thing matters to everyone individually. Let's take for example i invested $10k into Bitcoin, during bear market my asset lose to $4k, do you think I would not be curious about the price?. True! Bitcoin is designed as a way to transfer digital cash in a decentralized manner but everyone can also think of it the way it matters to them. Bitcoiners must note that volatility is one sure thing.

if someone invested $10k into bitcoin and now it's $4k then they lost alot of money. now they are stuck in bitcoin whether they like it or not. because if they pull out now, they get to realize their loss.

[tbterryboy]

The price of Bitcoin has increased to $24,000 few hours ago, showed that the price will definitely reach $50,000 before the end of this month for people to use the opportunity to recover from their losses.

it doesn't "show" anything. all it shows is what happened. nothing more. this type of irresponsible statements is what cause newbies to load up on a sure thing. also it's alot harder for bitcoin to double in price than it is for a lower priced coin all other things being equal, due to the amount of money required to move it. so keep that in mind.

It did show an increase but can you tell us if what exactly that thing you are looking for in bitcoin? Is it the bull run? Well don't worry because we will come on that phase soon. Can't really agree with you when you say his comments are irresponsible because anyone is free here to make their own predictions and it's only up to the reader if they will agree on it or not. It's the investors responsibility what happens with their funds, not other people.

Also, it's more easier now for bitcoin to double or triple its price because its value right now is cheap. Its supply is limited and it's more scarce than those coins who have a big and unlimited supply but if it's possible for their price to move upwards then why not bitcoin?

[wmaurik]

if someone invested $10k into bitcoin and now it's $4k then they lost alot of money. now they are stuck in bitcoin whether they like it or not. because if they pull out now, they get to realize their loss.

If someone is experiencing something like that now, then the best option is to hold on and be patient in holding the Bitcoins that he already owns rather than incur losses that he will probably remember forever when he wants to invest again. Because he can still recover lost money through Bitcoin when there is another increase in the price of Bitcoin, it's just that he has to have a lot of patience at this point in order not to let go of the Bitcoin he already holds.

[BobK71]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

We are not very aware of the use of Bitcoin. Moreover, most people consider Bitcoin as a means of investing in trading platforms ‍and the issue of price in trading platform is definitely a big issue among traders. However, Bitcoin has many use case. When people start using Bitcoin as a payment method, it will create a stable environment.

[Amicable55]

I strongly agree with you that if Bitcoin price is 1$ then no one complain. Exactly, its a human nature that we are curious to that thing who is not accessible for us. Like Gold, we respect him and see him in far away eyes. If BTC is approachable to everyone then is value is nothing as like as air, oxygen etc. On BTC point of view, majority of small investors want to earn some profit from BTC. So they see and estimate where BTC goes. So price matters for us.

[franky1]

i personally have bought/acquired bitcoin at different amounts over the last 10 years

$6
$450
$5.6k
$4.3k
$30k
$17.9k

and happy with all my buys
obviously the first one is obvious

the $450 was in the stagnant period of 2013-2016 and have been happy with results
the $5.6 was after the $20k ATH as was the $4.3 shortly after

the $30k and the $17.9k were this year

i am happy with all the purchase prices as they were all cheaper than my local mining cost should i have mined at those times

[larry_vw_1955]

i personally have bought/acquired bitcoin at different amounts over the last 10 years

$6
$450
$5.6k
$4.3k
$30k
$17.9k

and happy with all my buys
obviously the first one is obvious

the $450 was in the stagnant period of 2013-2016 and have been happy with results
the $5.6 was after the $20k ATH as was the $4.3 shortly after

the $30k and the $17.9k were this year

i am happy with all the purchase prices as they were all cheaper than my local mining cost should i have mined at those times

people don't talk about the times they buy it at or near the ATH. you never see anyone on the forums talking about that so much! but there has to be some people who bought it like that and just watched it slip down into the 20s. over the last year or so. but if i was stuck in the red with some cryptocurrency, would much rather it be bitcoin than something else.

[Zilon]

Bitcoin now serves a dual purpose. It can be a store of value for one fellow and a medium of exchange for another and which ever purpose it serves as long as the peer in the network have total control of their funds they are still in the line with the original idea. The goal is to give every Bitcoin holder full custody of their funds without a third party interference.

[theCommittalist]

Bitcoin now serves a dual purpose. It can be a store of value for one fellow and a medium of exchange for another and which ever purpose it serves as long as the peer in the network have total control of their funds they are still in the line with the original idea. The goal is to give every Bitcoin holder full custody of their funds without a third party interference.

We have to be careful not to go from the frying pan into the fire though. It is more important that everyone on earth get a working currency than all nations having an alternative sort of fiat to exchange into to preserve their wealth against economic instability, which is pretty much just more of the same, & would go against the noblest sentiments attached to the BTC.

The main source of value for Bitcoin is in use as internet currency. It exposes the predatory & amoral nature of people describing themselves as the state or the government, as though they are responsible for creating the universe & mapping the human mind. Take it back y'all!

[JohnBitCo]

It is important that the bitcoin price rises most of the time. At the time when bitcoin was over  50,000$, everyone  was talking about bitcoin and bitcoin was trending everywhere however when bitcoin prices dump or in a bear market, no one talks about bitcoin, and the interest in bitcoin among people remains intact.

[kasunrandil]

most  probably price seekers of bitcoin are short term investors or  day traders . investors , legendery bitcoiners  and long term holders who understood bitcoin check the price of bitcoin once in a blue moon. no need to panic if you understand whats going on there. i am not willing to sell btc for 10% of profit and to be a day trader and short term investor.

[wmaurik]

most  probably price seekers of bitcoin are short term investors or  day traders . investors , legendery bitcoiners  and long term holders who understood bitcoin check the price of bitcoin once in a blue moon. no need to panic if you understand whats going on there. i am not willing to sell btc for 10% of profit and to be a day trader and short term investor.

I'm just the opposite where I always want to see the price of Bitcoin on any exchange every day even though I also like investing in the long term. But I wouldn't even be at peace if I didn't get to see the price of Bitcoin in one 24-hour period. Because I always have the feeling to buy when the Bitcoin price keeps getting cheap and also still very happy to hold it when the Bitcoin price is still not high in the market.

[CryptoHeadlineNews]

its a human nature that we are curious to that thing who is not accessible for us. Like Gold, we respect him and see him in far away eyes. If BTC is approachable to everyone then is value is nothing as like as air, oxygen etc.

I totally agree with what you just said, because Bitcoin has value today because everyone can not afford it, because if everyone could afford it, it wouldn't have been valuable as it is today, just like Gold, and for the fact that it's digital, it makes it more easily accessible than gold nor silver. But actually the value of bitcoin came from increase in demand since it is a scarce quantity unlike gold with a limited supply of 21million, of which we are over 8billion people in this world. So in other for 21milliin Bitcoin to go round approximately 4billion persons, it price has to go up so that people could get a least fraction of it

[blockman]

most  probably price seekers of bitcoin are short term investors or  day traders . investors , legendery bitcoiners  and long term holders who understood bitcoin check the price of bitcoin once in a blue moon.

Just say that everyone is seeking a good price of bitcoin.

no need to panic if you understand whats going on there. investor.

Those who panic are the ones who missed their agendas and plans like buying at the dip or selling at the top.

i am not willing to sell btc for 10% of profit and to be a day trader and short term investor.

Well, that's you and we all aim for a better profit and that's why we're thinking that we only sell if it's truly profitable and more than the amount that we've bought it.

[BobK71]

It is important that the bitcoin price rises most of the time. At the time when bitcoin was over  50,000$, everyone  was talking about bitcoin and bitcoin was trending everywhere however when bitcoin prices dump or in a bear market, no one talks about bitcoin, and the interest in bitcoin among people remains intact.

It depends on the bitcoin owner why he bought the bitcoin?. He may use Bitcoin as a payment method or use it as an investment. Bitcoins are used based on each individual's work. But price always play an important role as it is directly related to the asset or trading business.

[piebeyb]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

sometimes it's true what you say, people are too concerned with the price of bitcoin and don't discuss how to use it and others maybe that's what you mean, I agree in your thoughts and also your question because I'm also on this forum sometimes only discussing bitcoin prices in threads me, you made me realize I should have made more important posts about bitcoin than discussing prices

[dark1234]

The Bitcoin price is very important because without the tries being positive nobody will like to invest in Bitcoin the positivity of the currency is what bring people into the market so the price of Bitcoin is very important to create a currency and when the price begin to rise order currencies like altcoins have another shape of development

actually I myself assume, everyone chases and collects bitcoin because the price is for no other reason and doesn't think about its benefits and uses, and bitcoin is very important to them because it becomes a reference for the market price of all altcoins and others and this is real at this time, by that's why only a few people spend bitcoin as a transaction tool

[larry_vw_1955]

sometimes it's true what you say, people are too concerned with the price of bitcoin and don't discuss how to use it and others maybe that's what you mean, I agree in your thoughts and also your question because I'm also on this forum sometimes only discussing bitcoin prices in threads me, you made me realize I should have made more important posts about bitcoin than discussing prices

The annual inflation rate in the US slowed more than expected to 8.5% in July of 2022 from an over 40-year high of 9.1% hit in June...


so if someone in the usa is holding bitcoin as an investment then their opportunity cost is about 8.5% they need bitcoin to be going up by that much annually just to break even. 8.5% is not huge but it's still something to keep in mind that there is a hurdle to overcome just to break even.

[MarjorieZimmermanGinger]

i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it?

Bitcoin has a purpose, so people dare to take action to start investing, financial freedom in managing finances may be one of the many reasons bitcoin is important, people will like it when he starts to know and learn about profits, because bitcoin is open and no one can control it.

seems they got the wrong idea of bitcoin.

Bitcoin will be considered important if people have entered into investment, but for people who are not involved in this case, then bitcoin will be considered an ordinary thing that does not need to be discussed, the concept is simple, when someone starts talking, it is a sign that bitcoin is in demand, or talking about the success of bitcoin from its inception until now, then what impact did people receive?

Bitcoin is simple
Bitcoin is important
Bitcoin is not important

[boris singer]

The Bitcoin price is very important because without the tries being positive nobody will like to invest in Bitcoin the positivity of the currency is what bring people into the market so the price of Bitcoin is very important to create a currency and when the price begin to rise order currencies like altcoins have another shape of development

actually I myself assume, everyone chases and collects bitcoin because the price is for no other reason and doesn't think about its benefits and uses, and bitcoin is very important to them because it becomes a reference for the market price of all altcoins and others and this is real at this time, by that's why only a few people spend bitcoin as a transaction tool

Apart from that, sometimes in this case the main goal is that and indeed almost everyone is in this case because indeed the goal is profit and indeed this is something that I think is quite understandable although there are indeed several other goals and we may be right now already feel like people are buying things using bitcoins or anything else but still the fact of being in bitcoins just for profit is paramount.

[wmaurik]

Bitcoin will be considered important if people have entered into investment, but for people who are not involved in this case, then bitcoin will be considered an ordinary thing that does not need to be discussed, the concept is simple, when someone starts talking, it is a sign that bitcoin is in demand, or talking about the success of bitcoin from its inception until now, then what impact did people receive?

Bitcoin is simple
Bitcoin is important
Bitcoin is not important

I see what is more difficult to convince are those who are still very new to Bitcoin and have heard bad things from people who don't like Bitcoin at all so that people try to lead ordinary people to dislike Bitcoin. Bitcoin becomes simple to understand if someone has read all about Bitcoin then that person will consider Bitcoin an important asset to have not an insignificant one because it is only thought of by those who don't like Bitcoin in general.

[budi691]

what happens if the price of Bitcoin is low maybe not many people have and save it for investment, but because the price of Bitcoin is high then everyone is competing to have it, but not only that, for example trading it will be very important to know the price of Bitcoin if you want to make a profit

[MarjorieZimmermanGinger]

Bitcoin will be considered important if people have entered into investment, but for people who are not involved in this case, then bitcoin will be considered an ordinary thing that does not need to be discussed, the concept is simple, when someone starts talking, it is a sign that bitcoin is in demand, or talking about the success of bitcoin from its inception until now, then what impact did people receive?

Bitcoin is simple
Bitcoin is important
Bitcoin is not important

I see what is more difficult to convince are those who are still very new to Bitcoin and have heard bad things from people who don't like Bitcoin at all so that people try to lead ordinary people to dislike Bitcoin. Bitcoin becomes simple to understand if someone has read all about Bitcoin then that person will consider Bitcoin an important asset to have not an insignificant one because it is only thought of by those who don't like Bitcoin in general.

Many similar cases actually occur because they are in the environment of people who reject bitcoin and not a few people who are in the environment who accept, basically bitcoin is not considered important, because they are not directly involved.

But the development of the times that make it easier for people to find information, there is also an understanding like this, one thing that makes me understand, direct involvement and being in an accepting environment is the final decision of such people.

[Xampeuu]

what happens if the price of Bitcoin is low maybe not many people have and save it for investment, but because the price of Bitcoin is high then everyone is competing to have it, but not only that, for example trading it will be very important to know the price of Bitcoin if you want to make a profit

this relates to the psychology of traders and investors who will buy. when the price of bitcoin rallies, more and more people will buy it, because many of us think of getting money in a short and easy time. therefore many people are greedy and eventually regret it. many people are waiting for the price to buy, where they are looking for a support area to be more effective and get the best price, hopefully

[Esther C]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

If I’m correct, I reckon this question has been addressed before. Bitcoin is currently the largest crypto in the market, so it’s only natural that Bitcoin directly or indirectly impacts the other cryptocurrencies. The price of Bitcoin determines the wave of the market at given points. The rise of Bitcoin could be an indication of a good market and vice versa.

[KaliLinux]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

Whether you believe that was what it was created for from the beginning should not restrict it to that level alone. I believe if Bitcoin still remained as just a decentralized digital transfer without the price increase/volatility to it, most people wouldn't have been engaged in it as we see today, so, evolution is a good thing as Bitcoin has evolved into more than just a Peer-to-peer (P2P) entity but also an Investment opportunity.

[wahyuagung26]

i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it?

Bitcoin has a purpose, so people dare to take action to start investing, financial freedom in managing finances may be one of the many reasons bitcoin is important, people will like it when he starts to know and learn about profits, because bitcoin is open and no one can control it.

seems they got the wrong idea of bitcoin.

Bitcoin will be considered important if people have entered into investment, but for people who are not involved in this case, then bitcoin will be considered an ordinary thing that does not need to be discussed, the concept is simple, when someone starts talking, it is a sign that bitcoin is in demand, or talking about the success of bitcoin from its inception until now, then what impact did people receive?

Bitcoin is simple
Bitcoin is important
Bitcoin is not important

I a gree with you.

Actually not everyone thinks Bitcoin is important, those who think Bitcoin is important are only people who are very understanding with Cryptocurrency and who don't understand this maybe they really hate Bitcoin, and people who know what Investment is, of course they are people who people really think Bitcoin is very Important.

And I myself really think Bitcoin is very important and even seems to be very important in my personal life, there are several factors why I say it is very important with Bitcoin, one of which is that the advantages of Bitcoin do not lie in other objects as well as its features.

[pgbit]

Bitcoin price is very important because you can call bitcoin as the king of all cryptocurrencies at the moment. its fluctuations make the entire market fluctuate, if the price of bitcoin increases, it stabilizes the entire market .  And altcoin prices are stable with the price of Bitcoin, so it has become a natural process for the price of Bitcoin to influence the entire market, because the Altcoins have their foothold in the market with the price of Bitcoin.

[danadc]

Well, I am getting together to buy a truck here in Ecuador, what I would like is for the price of bitcoin to rise so that I can reach my goal quickly, that is the only way I would reach the price, otherwise I have to use those funds to be able to survive, which well, here I have helped to talk about bitcoin and some merchants in their businesses are placing notices, and since I work with an animal organization I have been able to talk to them, they are reluctant but if they take into consideration the means of payment, if bitcoin goes up, It would be easier, that is the importance of bitcoin in the world, it is one of the many things.

[iphone5s]

what happens if the price of Bitcoin is low maybe not many people have and save it for investment, but because the price of Bitcoin is high then everyone is competing to have it, but not only that, for example trading it will be very important to know the price of Bitcoin if you want to make a profit

this relates to the psychology of traders and investors who will buy. when the price of bitcoin rallies, more and more people will buy it, because many of us think of getting money in a short and easy time. therefore many people are greedy and eventually regret it. many people are waiting for the price to buy, where they are looking for a support area to be more effective and get the best price, hopefully

Greedy or dissatisfied it is human nature until now. so it was natural with what they would get later. Everyone wants to have to keep moving forward to achieve their goals so that's how they are looking to profit from Bitcoin to buy in bulk and see the price will be high but it's not.

[MarjorieZimmermanGinger]

and people who know what Investment is, of course they are people who people really think Bitcoin is very Important.

Not only that, besides bitcoin being used as the best investment, bitcoin has also begun to penetrate other environments, both educationally, socially and others. This shows how important bitcoin is in practice, people can do positive activities just by owning a few bitcoins.
Of course, this activity was carried out by people who were concerned with the development of bitcoin, as a positive aspect that was shown to everyone, so the notion that bitcoin was not real and bitcoin was a setback, was automatically refuted.

[Jeger.Kiting]

Bitcoin was first issued basically to make it easier for everyone in a peer-to-peer way, but not only that, everyone buys Bitcoin and keeps it for a very long period of time, their main goal is to profit from what has been invested in Bitcoin . So they have to look at the market situation and keep an eye on the price of Bitcoin, because for all investors it is very important to see the price of Bitcoin so that they don't get stuck with the price that has been put.

[Awwal08]

The price of bitcoin is crucial since it leads all cryptocurrencies globally. The most widely used cryptocurrency in the entire globe, Bitcoin sets the price of nearly all other cryptocurrencies. Since I firmly believe in bitcoin, I still have optimism for it right now. I don't regret missing out on Bitcoin because it will eventually regain its strength.

[tjtonmoy]

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

Tell me this, do you want to lose your money willingly? The answer to that will be no, right? So why other people wanting the same seems wrong to you.
BTC will always be useful and precious. But those who have bought them at a high price, they won't want to sell or make transaction in a low price right?
BTC will be as it is now but the price volality will make people doubt on BTC, thus fewer people will use it. So in some way, price does matter to a huge community and that's the truth.

[danadc]

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

Tell me this, do you want to lose your money willingly? The answer to that will be no, right? So why other people wanting the same seems wrong to you.
BTC will always be useful and precious. But those who have bought them at a high price, they won't want to sell or make transaction in a low price right?
BTC will be as it is now but the price volality will make people doubt on BTC, thus fewer people will use it. So in some way, price does matter to a huge community and that's the truth.

No one wants to lose money, when we want to invest money, some people do it by putting their money into setting up businesses, doing different types of things, there are even people who fall into pyramid schemes and lose, when a person decides to invest in bitcoin they must take into account ceuta you have to wait a long time.

when there is a lot of money, people buy houses, buildings, hotels, and it's not bad, it's what monopoly teaches us, and what economists advise, but few people come up with good investment ideas, and when they are told about bitcoin, some receive it very well, others do not, but the important thing is that through bitcoin a person can make a lot of money at any time, I talk to everyone I can about bitcoin, I know that those who invest and will wait when they win, they'll thank me.

[Abbee]

Bitcoin shows value as a digital currency but it main value lies in supply and demand. Also the value of bitcoin sometimes varies depending on people perspective towards it. I personally believe that the price of Bitcoin in important, due to the fact that as an investor, a buyer or seller we all depends on the price whenever we want to make our purchase of Bitcoin because no one is willing to lose money intentionally, for this reason, the price of BTC is important in any digital transaction we might want to make

[FriedeFritz]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

quite important as other crypto really depends on those price movement tho ,whete the price is low or high it is quite demanding

[theCommittalist]

The price of Bitcoin is interesting or important as, like with any other good, service, asset or resource, any desirable commodity, it is a representation of how many people in the world are interested in possessing it, using it & getting to know it. As is written everywhere by now, even sometimes maybe by me, this is a working currency for the internet. By working currency I mean to say that it has been around for over ten years and millions of users & some of the best, brightest names in tech are working with it & working on it. It is an open-source, transparent internet technology that functions as a secure storage of value for anyone with online access, which means potentially the whole of planet earth, crossing boundaries formerly taken for granted.

You have to spend some time thinking about it, but when you do you'll probably realise that this innovation & its successors have the potential to help end absolute poverty worldwide. If you're the kind of person that likes absolute poverty, then maybe you should go crazy & lose all your money trying to get your head around Bitcoin?

Interesting times we live in

[wahyuagung26]

quite important as other crypto really depends on those price movement tho ,whete the price is low or high it is quite demanding

The price and value of Bitcoin plays a big role in the world of Cryptocurrency, especially for Altcoins that are in Cryptocurrency and the purpose of playing here is when the value of Bitcoin increases there will be an increase for several other Altcoins, as well as a decrease in the Value of Bitcoin, it is very clear from here that Bitcoin Value is very important to note and especially in other Altcoins.

[Coin BTC]

Bitcoin will be considered important if people have entered into investment, but for people who are not involved in this case, then bitcoin will be considered an ordinary thing that does not need to be discussed, the concept is simple, when someone starts talking, it is a sign that bitcoin is in demand, or talking about the success of bitcoin from its inception until now, then what impact did people receive?

Bitcoin is simple
Bitcoin is important
Bitcoin is not important

When someone is new to Bitcoin they are very much influenced by bad incitement (bad incitement about Bitcoin) and I think this is one of the hardest steps for them to go through by meeting people who don't like Bitcoin and even hate it, I think people -the person who first instigated those who had just plunged into the world of Cryptocurrency.

And I really hate these arrogant people.

[Awwal08]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

There are many purpose for bitcoin, and not alot of people are willing to sell it when the price high, but worried not to see it moving like dollars is now. Even though it worth $1 i still have hope for it, the same hope Afghanistan had that one day they will gain their freedom. It took them almost or over twenty years.

[Alert31]

The price of Bitcoin is something important for those who have bitcoin or for those who have invested in it. Of course everyone hopes for a better price to get a better profit. But for those who don't have bitcoin in their wallet, they don't care if the price of bitcoin is too high or worthless.

[Coin BTC]

Of course it is very important, in fact other Altcoins will increase if Bitcoin increases because Bitcoin plays an important role in this Cryptocurrency, with the increase that occurs in Bircoin then several other Altcoins will also increase, from this point of view it can be seen that the value of Bitcoin is very important to note.

[wiss19]

Bitcoins original purpose is a currency just like a money that will be use for buying and paying but later on people discovered that it was volatile so they make use of this feature as well. That's the time trading and investing is discovered and I think many people mistaken that this is the main use of btc but either way (a currency or being an asset) looking at its price is still very important.

How can you pay someone or send them money without looking price first? Same goes with trading/investing and buying/selling. People have the right to complain because they put their money in it. So when the price of btc declines, they are losing their money as well.

[jesselui]

Bitcoin isn't the best crypto technology if you ask me. But his name has now become a brand name. That's why everything works on bitcoin's price and name. The value and volume of all other cryptocurrencies are also tied to bitcoin. There can be only one reason for this: because it is the first.

[ChiNgadOr]

quite important as other crypto really depends on those price movement tho ,whete the price is low or high it is quite demanding

The price and value of Bitcoin plays a big role in the world of Cryptocurrency, especially for Altcoins that are in Cryptocurrency and the purpose of playing here is when the value of Bitcoin increases there will be an increase for several other Altcoins, as well as a decrease in the Value of Bitcoin, it is very clear from here that Bitcoin Value is very important to note and especially in other Altcoins.

This is the most secret many investors do not know ams I think we need to let them know that investing all funds on altcoins alone will not make the market moves better instead we can equalize our investment on Bitcoin too since the price of Bitcoin does have effect on the whole altcoin market. If we ignore Bitcoin which price controls the entire market, our individual atcoins can only move for a little while before dipping even though we keep pumping it.

Bitcoin still remains the indicator for the cryptocurrency market what was the way it had been from the beginning. We hope the Bitcoin price will move to the upward direction so that the price of altcoins can talk a bull move too.

[sulendra12]

i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

I mean, most of the people started looking into cryptocurrency especially Bitcoin is to get more money and do some investments. Whether it's from medias, friends or just articles, most of the time they mention it like that. It's difficult to change the mindset of those people if more mainstream medias looking at that kind of perception in the first place.

it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

Yes, if they actually looked at it that way. But unfortunately, they don't. If the price would had fallen to $1 then most of the people thought it's doomed.

[Abiky]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

A lot of people are only focused on Bitcoin's price because they want to get rich quick. In other words, most people join the Bitcoin train just to make a lot of money in the process. When prices go all the way down the drain, that's when they start to panic and believe the cryptocurrency is nothing more than dead. But let me tell you, Bitcoin is a lot more than just the price. Why would I want to measure Bitcoin's value in Fiat terms when the latter is bound to collapse soon?

It would be best to use Bitcoin on its own regardless of how much it's worth in Fiat in order to truly experience the decentralized economy. On its own, Bitcoin is a stable cryptocurrency you can use anytime, anywhere without restrictions whatsoever (1 Bitcoin will be always equal to 1 Bitcoin, right?). If only people understood what Bitcoin is really all about, things would've been different nowadays. Human greed has taken over the crypto/Blockchain space, so prices will always be important to the general public. At least we know Bitcoin won't be going anywhere thanks to its decentralized and censorship-resistant design. Just my thoughts

[xzy887]

Yes, Bitcoin price is very important for market performance. Because you can see that when bitcoin price was 50000 dollars plus all coins and tokens were overpriced. But when a bear market suddenly hits, Bitcoin goes down a lot and the tokens go down as well. And some tokens have gone down so much that the traders have been feeding the brothers a lot of losses. And the reason for this is the decline of Bitcoin. So it can be said that Bitcoin price is very important in the market.

[pgbit]

The price of Bitcoin is very important in the current crypto industry because there are thousands of other smaller altcoins in the industry Which pump and dump with the price of bitcoin. Whenever the price of bitcoin goes up or when the price goes down, everyone calls it a market crash or a market bull.No other altcoin is called by the market name Bitcoin is the only crypto that is controlling the entire market and traders, investors, businessmen, all big companies and governments are always looking at Bitcoin price.Because when the price of bitcoin increases, the rest of the market also goes on a bull run, and if the price of bitcoin starts to decrease, the entire market starts to fall.

[theCommittalist]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

A lot of people are only focused on Bitcoin's price because they want to get rich quick. In other words, most people join the Bitcoin train just to make a lot of money in the process. When prices go all the way down the drain, that's when they start to panic and believe the cryptocurrency is nothing more than dead. But let me tell you, Bitcoin is a lot more than just the price. Why would I want to measure Bitcoin's value in Fiat terms when the latter is bound to collapse soon?

It would be best to use Bitcoin on its own regardless of how much it's worth in Fiat in order to truly experience the decentralized economy. On its own, Bitcoin is a stable cryptocurrency you can use anytime, anywhere without restrictions whatsoever (1 Bitcoin will be always equal to 1 Bitcoin, right?). If only people understood what Bitcoin is really all about, things would've been different nowadays. Human greed has taken over the crypto/Blockchain space, so prices will always be important to the general public. At least we know Bitcoin won't be going anywhere thanks to its decentralized and censorship-resistant design. Just my thoughts

This ^

Simples

[Silent Sam]

The price of bitcoin is very important because the whole market depends on it. we can notice that if the price of bitcoin goes down, the price of other currencies also goes down, and whenever the price of bitcoin goes up, the price of other currencies goes up. holders also always want why bitcoin prices go up even though someone doesn't have bitcoins still wants the price of bitcoins to go up because the price of the currency they have has to go up the price of bitcoins, of course, I don't have more bitcoins, but I have I also want that bitcoin price goes up very quickly.

[fuguebtc]

Bitcoins original purpose is a currency just like a money that will be use for buying and paying but later on people discovered that it was volatile so they make use of this feature as well. That's the time trading and investing is discovered and I think many people mistaken that this is the main use of btc but either way (a currency or being an asset) looking at its price is still very important.

How can you pay someone or send them money without looking price first? Same goes with trading/investing and buying/selling. People have the right to complain because they put their money in it. So when the price of btc declines, they are losing their money as well.

Not everyone discovered it was volatile, it was we humans who used it as an investment, manipulating it in the first place making it impossible for bitcoin to become a currency as it was originally intended. Since then, later generations like us know bitcoin as a highly profitable investment and since then bitcoin price has always been a top concern.

I believe that the generations entering the market from 2020 onwards they will never think of bitcoin as a currency they see bitcoin as an investment, digital gold.

[wmaurik]

I believe that the generations entering the market from 2020 onwards they will never think of bitcoin as a currency they see bitcoin as an investment, digital gold.

I think so too, because those who saw and knew Bitcoin in 2020 were the ones who wanted to work without any hindrances at that time.
Because as everyone feels that in 2020 very many people are no longer working as usual and also some are fired by the company because the company is no longer able to pay more employees. It's all because of the Covid pandemic.

[beej]

It’s always gonna be the model to look after. Bitcoin’s prominence
and value worldwide is a solid standard. No matter how it dips
every now and then, when it starts to come up it shakes everything
and everyone in crypto. A lot of us here, may have other investments
with other or new altcoins throughout the years but bitcoin has
it’s own magic that seems to reignite whenever the time and
conditions are right.

[larry_vw_1955]

Bitcoins original purpose is a currency just like a money that will be use for buying and paying but later on people discovered that it was volatile so they make use of this feature as well. That's the time trading and investing is discovered and I think many people mistaken that this is the main use of btc but either way (a currency or being an asset) looking at its price is still very important.

well yeah i won't disagree with that. especially the mistaken part.

How can you pay someone or send them money without looking price first?

you could. if bitcoin was more ubiquitous. such as street vendors posted their prices for things in bitcoin and not in the local fiat currency for example. you would have no need to check on any exchange rate.

Same goes with trading/investing and buying/selling. People have the right to complain because they put their money in it.
So when the price of btc declines, they are losing their money as well.

that's because they are thinking of it the wrong way. put your money in bitcoin because you believe in bitcoin not because you believe it has value as related to fiat. as i already pointed out, what if people posted prices for products and services in fractions of a bitcoin then we would be getting more away from thinking of bitcoin as it relates to fiat which is a good thing. then they dont need to worry about if they are losing money because they know their btc can buy same thing it did yesterday.

[MinoRaiola]

alot of posts seem to be focused on the price of bitcoin.

And it will always be like that, as long as there are other currencies or things that have a value. It needs a price for everything, so that we can check what something is worth. If this only happens with Bitcoin, then the values will be show linke that 0.00123 BTC without the price in dollars or euros. Compare it with a holiday in other country, there you also compare the values in your currency and the values in the currency of the country. That means the price is interesting as long as there are dollars and euros. Look at gold, the same.

[xzy887]

Bitcoin isn't the best crypto technology if you ask me. But his name has now become a brand name. That's why everything works on bitcoin's price and name. The value and volume of all other cryptocurrencies are also tied to bitcoin. There can be only one reason for this: because it is the first.

Do you know when something wins first place? Everything has a competition and whoever can gain popularity in all aspects can be the first place holder. A brand is not created by chance, success comes only after a lot of hard work and belief. Do you know how much Bitcoin was originally worth? If you don't know, find out how much Bitcoin was worth in the first place.So how did Bitcoin get here from there? Almost many countries have legalized Bitcoin. But first of all Bitcoin is not legal in all countries. You should have some idea that not everyone can be there in the first place. There are many other coins in the market that are not in the first place. There is no need to talk about being in the first place, but to know the reason for the first place.

[larry_vw_1955]

alot of posts seem to be focused on the price of bitcoin.

And it will always be like that, as long as there are other currencies or things that have a value.

but if bitcoin is going to become more mainstream then sellers are going to need to start quoting their prices for their products in btc, not fiat. if we're always going to think of bitcoin as just representing us dollars for example then what's the point of bitcoin?

It needs a price for everything, so that we can check what something is worth.

why do we need to check what something is worth ? why can't bitcoin tell us what something is worth?

If this only happens with Bitcoin, then the values will be show linke that 0.00123 BTC without the price in dollars or euros.

one world one currency, what's wrong with that?

Compare it with a holiday in other country, there you also compare the values in your currency and the values in the currency of the country. That means the price is interesting as long as there are dollars and euros. Look at gold, the same.

what if i just stay in my own country and don't care. wouldn't it make things easier if every country just adopted bitcoin as their native currency?

[Gallar]

I think it is a natural thing because many people invest their money in bitcoin. precisely that, with bitcoin making it easier for someone to invest, it's only natural that they're worried about the price because they invest their money there.
With bitcoin can also help someone's economy and it was a good epek in my opinion.

[MinoRaiola]

but if bitcoin is going to become more mainstream then sellers are going to need to start quoting their prices for their products in btc, not fiat. if we're always going to think of bitcoin as just representing us dollars for example then what's the point of bitcoin?

Theay can start their prices in btc, but it will always be a question of legalization. And I think "more mainstream" is not enough, they could do that right now, there are a lot of ways to do it.

why do we need to check what something is worth ? why can't bitcoin tell us what something is worth?

The understanding of this with a hardcut i don't think will happen, that would be impossible. The process will take many years and then you will develop a new sense for prices of a new currency.

one world one currency, what's wrong with that?

Nothing from mine. How do you think the dictators in those countries would respond?

what if i just stay in my own country and don't care. wouldn't it make things easier if every country just adopted bitcoin as their native currency?

It would be so much easier if people could decide more freely what they want. There are a lot of rules that make it more difficult. More we plan, more things go wrong.

[awik p]

alot of posts seem to be focused on the price of bitcoin.

And it will always be like that, as long as there are other currencies or things that have a value. It needs a price for everything, so that we can check what something is worth. If this only happens with Bitcoin, then the values will be show linke that 0.00123 BTC without the price in dollars or euros. Compare it with a holiday in other country, there you also compare the values in your currency and the values in the currency of the country. That means the price is interesting as long as there are dollars and euros. Look at gold, the same.

the conversion of bitcoin to fiat currency will indeed be more interesting to follow its development. especially if the price goes up, there will be many investors who want to buy it, because with the increase it will bring everyone psychologically to take advantage of the moment, and the results can immediately be enjoyed because we have become rich and can vacation wherever we want. and from the price increase, we can assume that the profit increases with the capital we invest

[BlockChainMentor]

That's why people are taking in this because in this world everyone wants to get profit of that whether it is innovation or techonology invention ..You know earlier days vehicles were used for convenience but today it is used for fashion and much more so after some time whatever it is everyone want to get profit of that. I think it is best option to invest and secure your future

[danadc]

People have as a basis in their heads that an asset is only worth its price in fiat, it is something that cannot be blamed, everyone has their way of thinking and that is respected, but the value of Bitcoin goes much further that of fiat, at the moment there is a relatively low price for what it should cost to have 1 bitcoin, it should be about $250k if there were no risks of wars and risks of pandemics, global circumstances affect the price, because investors they panic and want to have their money well protected, I don't blame them, money always seeks to keep its value, for me that is the importance of price.

[larry_vw_1955]

People have as a basis in their heads that an asset is only worth its price in fiat, it is something that cannot be blamed, everyone has their way of thinking and that is respected, but the value of Bitcoin goes much further that of fiat, at the moment there is a relatively low price for what it should cost to have 1 bitcoin, it should be about $250k if there were no risks of wars and risks of pandemics, global circumstances affect the price, because investors they panic and want to have their money well protected, I don't blame them, money always seeks to keep its value, for me that is the importance of price.

as I mentioned before, I have yet to hear any logical argument as to why bitcoin should be priced at $1,000,000 or even $250,000. people just say "it should be this price" without explaining why. yet to hear a good reason why that makes any sense. if if should be priced at $250,000 then why isn't it that price already? what is it waiting for? joe biden to print more money?

[theCommittalist]

We're waiting for the 4 horsemen of the apocalypse to arrive

[larry_vw_1955]

We're waiting for the 4 horsemen of the apocalypse to arrive

must be waiting for something. at this rate, bitcoin might need to get to $250k or $1mil just to keep up with the joneses.

[theCommittalist]

We're waiting for the 4 horsemen of the apocalypse to arrive

must be waiting for something. at this rate, bitcoin might need to get to $250k or $1mil just to keep up with the joneses.

You're way ahead of the game there, talking like 2025 prices B)

[franky1]

as I mentioned before, I have yet to hear any logical argument as to why bitcoin should be priced at $1,000,000 or even $250,000. people just say "it should be this price" without explaining why. yet to hear a good reason why that makes any sense. if if should be priced at $250,000 then why isn't it that price already? what is it waiting for? joe biden to print more money?

my estimations..

the biitcoin trade window based on mining costs is a window of $15k -$~90k
where no one can mine below $15k so no one wants to sell below that anywhere on planet..
and everyone and their mother can mine cheaper than $90k on the planet so why buy bitcoin for over $90k if they can get it cheaper right now via other means

so all the projections of $100k=> $250k > $1m+ are just fantasy numbers during 2022

in 2020-21 the top number was $70k and guess where the ATH peaked. yep 70k

in 2017 the top mining cost of most expensive electric and reasonable usable asic was $20k.. and yes it hit that and halted

but here is the thing.. as hashrate goes up the underlying most efficient bottom moves up because mining costs move up..
and for the top window line. obviously that goes up

right now to get to 250k the hashrate has to go up by 2.5x or electric prices (only part of the mining cost is electric) have to go up multiple times

so in short.. no not this year.. nor early next year, it will take a lot longer to go to $250k plus

as for $100k that can happen sooner, just not yet

[franky1]

something to be very aware of about the "top window line"
in regards the the 4 main ATH events
2011- trigger shift from CPU-GPU mining
2013- trigger shift from GPU-asic mining
2017- trigger efficient s9(well efficient at the time)
2021- trigger efficient s19(well efficient at the time)

what occurs is when a new major mining efficiency change occurs..
thus with most efficient and well funded operations shift their old gear out and replace it with new gear. but upto a limit of current hashrate. meaning less electric less asics needed=les cost
this makes them mine cheaper
it can lower the bottom window

however with the spare cost they save on electric and extra space on shelves they made by being more efficient they can then expand their asics to do more hashpower

this then effects the hashrate competition
whereby the bottom window starts to rise again
also.. separate effect..
those at the top cost(least efficient) end up having less coin per cost= more cost per coin. thus it raises the top window line

by raising the top window line where those less efficient miners cant mine cheap and losing in the hashrate copetition.. they instead BUY coin. which causes a price rally all the way to their top break even line

[larry_vw_1955]

my estimations..

the biitcoin trade window based on mining costs is a window of $15k -$~90k

i think it's very logical to base bitcoin's price window on mining costs that does make sense, in a sense. but there has to be something more that gives bitcoin its market price like overall public demand. miners are probably a very small subset of all bitcoin users therefore, if bitcoin were only valuable to them, it wouldn't matter what their mining costs were, bitcoin would be worth very little in the real world.

in regards the the 4 main ATH events
2011- trigger shift from CPU-GPU mining
2013- trigger shift from GPU-asic mining
2017- trigger efficient s9(well efficient at the time)
2021- trigger efficient s19(well efficient at the time)

i wonder what the next trigger will be. it just seems like an arms race honestly with no end in sight and no ultimate winner. but they can't stop because the other guy would gain an advantage.

[theCommittalist]

The next big predictable trigger looks to be the next 'halving' in 2024 at which point the hashrate difficulty doubles making it twice as tough (or half as lucrative) to mine BTC. This should mean that anyone wishing to obtain or use Bitcoin will become more likely to buy it than mine it, pushing the prices up. As long as the tech development stays top-tier & it remains a functional internet currency, which is quite likely, we will likely see more intense bull runs 2024-5.

[BitcoinAddicts]

alot of posts seem to be focused on the price of bitcoin. i understand why because they are wanting to sell it for a profit but is that the purpose of bitcoin or was there some other purpose for it? i thought it was originally designed to just be a way to transfer digital cash in a decentralized manner but it seems like people don't really care about that part of it and all they care about is what its price is. seems they got the wrong idea of bitcoin.

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

The bitcoin usage is more important than the price. However, everybody is focused on the price because bitcoin is the greatest performing asset of all time

[franky1]

The next big predictable trigger looks to be the next 'halving' in 2024

bitcoins halving 2012 - november
price pre halving $6 price post halving $13

bitcoins halving 2016 - july
price pre halving $400 price post halving $960

bitcoins halving 2020 - november
price pre halving $5k price post halving $11k

halvings as the name suggests only cause a doubling of cost..
2x trigger

but comparing the mining rates of asics. from say the 2016 2020 generations
they have a factor of 3-5x deficiency
which can push the mining and market dynamics at play up by a 3-5x

yep cpu only managed 1mhash.. GPU managed a 100mhash
hense the $0.30 ->$32.00 first ATH

GPU 'rigs'(multiple gpu per mainboard) managed 0.6Ghash.. first asics were 60ghash
so the 2012 $12 became the late 2013 $1200 ATH

the 14Thash s9 become the 85thash s17
this pushed the 2017 ATH to be a 2021 of $65

right now miner owners are swapping out old gear where say if they had 1petahash
=12 asics of ~85thash at 2.9kwh each (34kwh total/h)
it becomes
=7 asics of ~140thash at 3.01kwh each (21.07kwh total/h)

this has caused the 2020 bottom window to drop from ~$25 to ~$15k
once you account for all costs

but that spare rack space and less electric used allows miners to expand and put another 41% on later this year to come back up to costs of last year

and then push further if they choose.. but we just are not at the trigger point of adding more asics.. we are still at the deficiency sway zone before the next hashrate push

i think it's very logical to base bitcoin's price window on mining costs that does make sense, in a sense. but there has to be something more that gives bitcoin its market price like overall public demand. miners are probably a very small subset of all bitcoin users therefore, if bitcoin were only valuable to them, it wouldn't matter what their mining costs were, bitcoin would be worth very little in the real world.

thats where the dynamics play out

yes there are the utility factors, such as compared to fiat(inflation) bitcoin(deflation) offers many things
you can set up off shore fund holding without a bank manager/lawyer
you can set up family trusts without bank manager/lawyer
you can move more then $1k value without having to ask a bank or being questioned
some see the fee's as being worth 6 minutes of min wage labour.some see fee's as being a days labour

lots of different factors and reasons people like bitcoin more or less

aswell as factors already mentioned are the cost factors..
in hawaii, germany and japan. they have highest electric prices. and so they are not inclined to want to mine unless the price was high but they are willing to buy bitcoin at any price because any price is below their mining cost so they see the price as being great value at any price individually. its these less efficient regions where people are willing to buy for more than the low. because its still cheap value for them to buy. but even they have their limits. which is the ATH top window effect

all bitcoiners are bitcoiners..
those that have courage and wealthy pockets and risk takers will invest in hardware and if they are the more savvi,organised. their acquisition price would be at the low end
those less courageous and just want get in and out quick become buyers and sellers where they take the premium speculative route for the convenience, ease, preference

read through the bitcointalk posts of early 2010 when the first market places were opening where people were describing "price discovery" where even then 12 years ago they understood the min price being at or above mining cost

as for mining vs buying decisions its the same as
EG if you could buy land and plant an apple tree vs just going to a fruit market to buy an apple. which would you choose
EG if you could spend a couple weeks learning how to fish or going to market to buy a fish. which would you choose
convenience to just grab what you want when you want. or have to wait around for getting rewards

they all have reasons to want bitcoin and fight others to get it both in mining and on the markets.

if only a couple hundred people were interested then it, and most were of african decent where their disposable(spare/investable) income was small.. then yes the value line and price would be like a crappy PoW altcoin of low value and low price..

the more people interested, the more they are willing to buy/acquire, the higher everything goes due to the competition.

there are other factors at play in the markets

although in 2012 there were only ~11m btc in circulation. the price was about $6-$13
now there is 19m in circulation. but the price is not lower. as some think more supply =less price..
the thing is on the market there are not 19m coins on the market order books

what occurs if you check out the statistics is that most small investors (majority) only invest about $400-$600 per order
and with those holding bitcoin knowing the costs and prices go up. they dont just pander into buys demands of selling whole coins for $400-$600
instead they only offer out small decimals of coins

so when people think its a if there is $xbill fiat vs xk btc the numbers play out to that ratio.. they are wrong

..
there are alot of factors that play into price discovery but you will find that their triggers and reasons all fall back to the underlying costs to make it on the planet at the lows and highs.. where peoples buying demands fall within that window
and where no seller wants to sell below the bottom of the window. which creates a non-zero zone of no mans land that supports prices being above a non-zero amount. which currently sits at $15k.. and no one wants to buy above a certain amount which creates another no mans land line at the top where everyone gives up trading above.

[Onyacin]

BTC was created as a way to conduct transactions without the intervention of a trusted third party i.e banks etc.
Its emergence amid the global financial crisis, which shook trust in banks was perfectly timed so BTC enabled transactions using only digital identities,This made Bitcoin the preferred currency. Btc value has importance to investors who utilize BTC for investment purposes.

[Osama Maaz]

Bitcoin is a currency and the purpose of this digital currency that decentralization therefore worked on blockchain technology but the price matters because as we use as a payment method then the price is fluctuating on every minute which makes many problems like profit or loss for retailers because they need some bitcoins for business liquidity,
So this is volatile market therefore many investors and institutes come to this field for investing and making profits not as a futuristic technology.

[rendravolt]

There may be many different opinions about bitcoin, but it is clear that everyone wants the best for bitcoin. Talking about prices, of course, everyone doesn't want to lose even though bitcoin has a myriad of benefits and features that make it easy to make digital transactions between countries.

[Zanab247]

Every traders want to make a good profit from Bitcoin investment, which there are some procedure you must follow to enable you to achieve what you want by buy Bitcoin when the price is low, which is very important for every traders to embrace in the community. If you buy Bitcoin at a lower price in the market, show that you will have something good to earn when the price increase higher, because it is the price will determine if you will make a good profits at the end of the market or not, that is why many people buy Bitcoin when the price decrease in the market and hold for the price to increase higher before they can sell.

[larry_vw_1955]

Every traders want to make a good profit from Bitcoin investment, which there are some procedure you must follow to enable you to achieve what you want by buy Bitcoin when the price is low, which is very important for every traders to embrace in the community.

i'm not sure we can justify bitcoin's price by saying that traders need to be able to make money.

Bitcoin is a currency and the purpose of this digital currency that decentralization therefore worked on blockchain technology but the price matters because as we use as a payment method...

most businesses in the united states don't really deal with bitcoin. nothing i buy do they take bitcoin, but they take credit cards. for me to have to get bitcoin to just buy something wouldn't make much sense because i have to first send my money to a 3rd party that i don't really feel so comfortable trusting anymore than i have to just so i can buy some bitcoin so i can pay for something?

BTC was created as a way to conduct transactions without the intervention of a trusted third party i.e banks etc.
Its emergence amid the global financial crisis, which shook trust in banks was perfectly timed so BTC enabled transactions using only digital identities,This made Bitcoin the preferred currency. Btc value has importance to investors who utilize BTC for investment purposes.

and bitcoin can't perform that function at any price level? why does the price level matter so much for those things? i don't think it does.

[franky1]

BTC was created as a way to conduct transactions without the intervention of a trusted third party i.e banks etc.
Its emergence amid the global financial crisis, which shook trust in banks was perfectly timed so BTC enabled transactions using only digital identities,This made Bitcoin the preferred currency. Btc value has importance to investors who utilize BTC for investment purposes.

and bitcoin can't perform that function at any price level? why does the price level matter so much for those things? i don't think it does.

yes technically(functionally) bitcoin 2012(price $6) could buy something worth $120 by giving the retailer 20btc
just as easy technically(functionally) as bitcoin 2022($20k) giving a retailer 0.006btc

so functionally yes bitcoin can pay retailers X amount at any token amount representative of a price
.....
as for your endless question your not satisfied with.. the reason for the price being at $20k/btc and not at $6/btc is again related to the mining /acquisition costs that propelled the underlying value up which then propels the price speculation above it up

the price is important because mining costs now do not cost the same $3+ per coin cost of 2012 GPU mining

if mining now was still say $3+/coin underlying cost, the speculative market would not be in the $15k-$70k range
it would be in the $4-$130 range

you are seeing ethereumPoS now learn this. they are trying their hardest to now pump ethereum speculative price up in a bubble to keep it up as long as possible but eventually the price will correct down to the new value level thats atleast 20x lower than its PoW underlying value last month
yep ethereums underlying cost has significantly dropped and the markets are responding and some pumpers are trying to fight that response. but they wont be able to pump it forever
..
anyway back to explaining the bitcoin market
most investors are minnow (small) investors doing trades of $400-$600 per order average
back in 2012 bitcoin sellers had costs of ~$4 and were wanting a lil speculative profit so selling 1 coin for $6 and obviously when a buyer had $400 on offer, a seller would give them 66 coin for that $400

now it costs $15kmin so those lucky miners want a lil profit so sell for more then $15k by offering the small minnows ~0.02btc for $400
which equates to ~$20k/btc

no one today would give someone 66btc for $400
because no one is foolish to sell for that kind of loss amount

as i said if they really need that $400.. they end up giving the buyer 0.02 to get the $400. but without selling at a loss

you wont find any seller today that really needs one of those $400 minnow offers. hand over a whole coin or 66 coin. they would give 0.02btc though. because thats a fair price for $400

bitcoins summer autumn 2022 price of $17k-$24k isnt just some random price picked out of a hat and set magically today.. its a build up of 13 years of price discovery based on the increased underlying costs of mining bitcoin which has increased over 13 years

the reason why bitcoin did not stay at $70k ATH this year.. is because the difference between the $15k bottom of this year and that ATH.. is the speculative price window.. not value

where $70k was not good value. it was not supported.. it was inflated/pumped into a bubble of unsustainable premium/greed. which reached its peak and corrected back down to good value because $70k was a unsustainable price.. and not supported to stay at that level

[larry_vw_1955]

.....
as for your endless question your not satisfied with.. the reason for the price being at $20k/btc and not at $6/btc is again related to the mining /acquisition costs that propelled the underlying value up which then propels the price speculation above it up

i didnt said i wasn't satisfy with your answer about mining/acquisition costs. but it's like i said, i can't go and mine gold if it's going to cost me more than it costs me to buy it on the open market. that would be operating at a loss. i as a miner of gold lets say, am not the one that determines that price level where i stop mining gold and start just buying it on the open market instead. the whole world does that. and insomuch as that ties in with your explanation, i think you also agreed with me. we're good.

you are seeing ethereumPoS now learn this. they are trying their hardest to now pump ethereum speculative price up in a bubble to keep it up as long as possible but eventually the price will correct down to the new value level thats atleast 20x lower than its PoW underlying value last month
yep ethereums underlying cost has significantly dropped and the markets are responding and some pumpers are trying to fight that response. but they wont be able to pump it forever

so now you're arguing that since it costs nothing to mine ethereum since no proof of work is required, that should mean eth price goes down? tell that to joe public who uses eth for nfts or any million of other things. we'll see if you right about that franky but i had my doubts.

[franky1]

give it time

eth traders are trying hard to keep the speculative price pumped in the +$1300 for as long as they can. but gradually over time that price will step down, and step down and step down.. multiple times until it settles to a new level closer to its new lower SoV

yes bitcoin might have a maximum of a 4-5x bubble ATH premium ontop of value..
($15k->$70k)

but ethereum went from a 4x max speculative window during PoW times of value ($900value->$3.8kATH)
to where stats hours before the merge was ($900value with $1.7kprice) (2x)
but after the merge the value dropped under $40 meaning the market price is being highly pumped by a factor of 30x+ ($1300 price)
trying its damned hardest to not just instantly fall within days to a safer store of value speculative window of 4x

but dont expect this 30x+ of value to remain held up... the speculative bubble pumps cant last forever. they are unsustainable
..
same goes for gold if everyone could mine for $2 in their back yard. gold would not be on the market for $1.8k. it would be on the market for under $10
..
as for thinking that NFT will keep the prices of ethereum in the $1.3k range.. it wont

because although someone bought a $17k NFT for say 10eth during the last days of PoW
in the future when selling it for $17k to break even..  a buyer would use fiat. buy ethereum at a new low of say $40/eth-$160/eth and hand that NFT seller 106eth-425eth to make the seller happy to break even

thus NFT wont help keep eth price pumped.. people will just buy more eth at a lower price to make good on a NFT holders break even cost

[danadc]

People have as a basis in their heads that an asset is only worth its price in fiat, it is something that cannot be blamed, everyone has their way of thinking and that is respected, but the value of Bitcoin goes much further that of fiat, at the moment there is a relatively low price for what it should cost to have 1 bitcoin, it should be about $250k if there were no risks of wars and risks of pandemics, global circumstances affect the price, because investors they panic and want to have their money well protected, I don't blame them, money always seeks to keep its value, for me that is the importance of price.

as I mentioned before, I have yet to hear any logical argument as to why bitcoin should be priced at $1,000,000 or even $250,000. people just say "it should be this price" without explaining why. yet to hear a good reason why that makes any sense. if if should be priced at $250,000 then why isn't it that price already? what is it waiting for? joe biden to print more money?

Because it is very difficult to get a valuation that can be accepted by the systems of governments and banks in the world, they give more importance to diamonds, oil, which are assets that can go to values of almost 1 usd and for them the support is everything , the argument of Bitcoin is different, it is trade, investment and money that moves freely, plus the value it has of being decentralized and deflationary, and these terms do not like governments, banks because otherwise their work would end , they cannot live off the demands with debts because the bitcoin system cannot be corrupted, in the economy that is dictated with these assets if many cheats can be done.

[fzkto]

There is something more important connected to Bitcoin now. The ecosystem of cryptocurrencies. Bitcoin now represent dollar of crypto world. So it's prices are crucial for the health of whole crypto ecosystem. While there are many people who are buying crypto to make windfall profits. But few who are preserving its sanctity. The dream of Satoshi was to create a decentralised financial system. I think Bitcoin is faivourite son of father of crypto.

The crypto world dollar is now represented by Tether and similar surrogates of cryptocurrency dollars. It is the cancer of all cryptocurrencies. Many people are not interested in bitcoin at all as a means of moving an asset from anywhere in the world because they use stablercoins in the same way. Now the time has passed when technology came first and many people believed in the idea and Satoshi's white paper. Now everyone is only interested in the profits of expensive bitcoin. I think you also buy bitcoins now for cheap to sell them later for more.

[larry_vw_1955]

but dont expect this 30x+ of value to remain held up... the speculative bubble pumps cant last forever. they are unsustainable
..
same goes for gold if everyone could mine for $2 in their back yard. gold would not be on the market for $1.8k. it would be on the market for under $10
..
as for thinking that NFT will keep the prices of ethereum in the $1.3k range.. it wont

so you're saying there is a new status quo and ethereum will adjust its price to be low permanently? i think ethereum buyers are irrational people in the sense that they are willing to pay for it when it is way overpriced. but that's just my opinion.

because although someone bought a $17k NFT for say 10eth during the last days of PoW
in the future when selling it for $17k to break even..  a buyer would use fiat. buy ethereum at a new low of say $40/eth-$160/eth and hand that NFT seller 106eth-425eth to make the seller happy to break even

they wish they could do that, the sellers that is. more likely they will be selling for a big loss. nft market tanked lately i heard. so anyone that thinking they gonna get back their investment in some junky nft maybe they be unpleasantly surprised.

thus NFT wont help keep eth price pumped.. people will just buy more eth at a lower price to make good on a NFT holders break even cost

i always felt eth was a bit overpriced when it hit into the 3k range and then you had people saying eth would go up to $20,000 soon and stuff like that. some people even said it will overtake bitcoin price.   how could anyone ever believe that?

not meaning to go off topic about ethereum prices but it does tie into our discussion about price and why is price important. to ethereum users i dont think it is. they would buy it if it was $20,000 or $20. to them they don't care. i'm not even sure some of them understands the inflationary model of ethereum how it was never a fixed supply and there's already like over 100 million eth in circulation, way more than bitcoin. how could it ever go higher than bitcoin in price if that's the case? because it has more use cases? well it better have alot of them or alot of gullible people.

[JohnBitCo]

There may be many different opinions about bitcoin, but it is clear that everyone wants the best for bitcoin. Talking about prices, of course, everyone doesn't want to lose even though bitcoin has a myriad of benefits and features that make it easy to make digital transactions between countries.

When the bitcoin price is high, usually it is a sign that more people are interested in buying bitcoins as the demand of bitcoin increases.

Similarly, when the bitcoin price is low, it is the indication that people are selling bitcoins and crypto due to a lack of interest or investing in other things like stocks or forex etc.

[franky1]

.

so you're saying there is a new status quo and ethereum will adjust its price to be low permanently? i think ethereum buyers are irrational people in the sense that they are willing to pay for it when it is way overpriced. but that's just my opinion.

greedy people are irrational. but if your willing to buy high sell low. you will lose and there is only so many times you can lose before your out of the game and not participating in the pump.. there are only so many idiot traders. and once they are out they are out.

then the pumps end and corrections begin. where only the smart traders are left

..

they wish they could do that, the sellers that is. more likely they will be selling for a big loss. nft market tanked lately i heard. so anyone that thinking they gonna get back their investment in some junky nft maybe they be unpleasantly surprised.

the NFT market is fake.. a huge majority of NFT are not true trades..
they are the creator selling to himself for a high price to fake high price to try to set precedent of expectation. so that when true buyers come along the true buy is suppose to also pay high/higher..
but remember if you create art. and put it into auction. and then you, wearing a different hat buy your own art.. that money as a buyer, returns to you. so it cost you nothing.. yet you manage to set a fake price..
so when a true buyer comes along to buy the art from you(wearing the hat) you are not losing anything from selling at a lower price that your fake trade before
but its this lower price that is actually the price discovery phase.. not the fake ones the creators are trying to promote

and thats the phase NFT are in . creators losing nothing because they are only selling to themselves...
then their next trade that appears to be a loss is the actual first true transaction of profit

its the 3rd transaction.. the duped buyer trying to sell.. that would be the true first losers.

this game used to happen alot in ebay when a new collectable british legal tender metal 50p piece was released. collectors buying them from the mint at 50p:50p would go to ebay and then sell it to themselves for £20(40x) to try to set precedent that these collectible 50p coins were actually worth 40x.. no one fell for that either.. apart from a couple idiots. so the trader again sells to himself for £10(20x) and then £5(10x) trying to fake price discovery until he can convince a true buyer of a price point they are willing to buy

i always felt eth was a bit overpriced when it hit into the 3k range and then you had people saying eth would go up to $20,000 soon and stuff like that. some people even said it will overtake bitcoin price.   how could anyone ever believe that?

those shouting "it will got to $20k, it will overtake BTC" are not wanna be buyers .. they are people already bought into ETH and wanting to pump it so they can exit at profit.. yes everyone wants a 5x but not willing to wait years for actual value(in deflationary currencies)..
so those buying in at $3.5k of a non deflationary. are just greedy and wanting quick pumps and dumps to exit ASAP, so they will shout out numbers like $20k. because thats their exit price the price they want other people to pump it to so the screamer can exit

yep.. in bitcoin those shouting $100k, $250k. are not shouting out the prices they are willing to buy in at.. they are shouting the Xx factor amount they personally want to exit at where they want to try to push others to buy in excessively too.. but as we seen.. it never reached $100k+ because yep there are real underlying cost windows involved that topped out at $70k last year


but again. if you look at the total users as a whole. there is a limit to any market where the overall top limit reaches a peak that even the dumbest yet-to-be buyer just gives up and says 'no, thats too high'
meaning the pumper loses..

not meaning to go off topic about ethereum prices but it does tie into our discussion about price and why is price important. to ethereum users i dont think it is. they would buy it if it was $20,000 or $20. to them they don't care. i'm not even sure some of them understands the inflationary model of ethereum how it was never a fixed supply and there's already like over 100 million eth in circulation, way more than bitcoin. how could it ever go higher than bitcoin in price if that's the case? because it has more use cases? well it better have alot of them or alot of gullible people.

wrong
even the dumbest yet to be buyer has his limits. and there are not an infinite amount of dumb buyers.. so there is always a market top. where dumb users dilute out until there are none left

there is always a point where the speculative bubble bursts

yes when something is new and misunderstood this bubble can be as much as 100x. but once those dumb people and pumpers lose, they dont play so risky next cycle/time.

you can see how that played out in bitcoin
first pump was .$0.30-$30 (100x) but that then corrected down to reasonable closer to value of $2.50
(that period was trigger of first GPU mining where people screamed 'costs and difficulty going to 100x') which sparked the speculative price jump in days. the actual difficulty didnt jump 100x in days so ofcourse the bubble diddt last that month..
it took another 12+ months for the actual cost/diff to jump to the 100x
which is why $30 did hit again until 2013

next cycle seen a jump of far less than 100x.
and latest one was less than 10x

it takes time to weed out the weak treaders that emotional trade. where only logical traders are left and then new traders follow the logical path as they learn from their peers bad experiences
.....
because as you say eth has no supply limit. it will take time for traders to realise the new cost change and then get hurt by speculative bubble pumps.. until they get into rational/logical  value:price trading range

but long story short.. dont expect ethereum to remain in the bubble speculative price range its in now of 20x+. it will shrink over time
...
i have to admit before the merge.. i personally thought traders were smarter and prepared before the merge for the impending cost reduction.. but it seems they will learn the hard slow way, and i didnt realise how many greedy idiots there were in ethereum.. oh well their loss. they will learn.. the signs and data and indicators were there..
they will an d have learned the hard way

[theCommittalist]

Vlad the eth guy has been pictured at a banquet with the Russian government, who may have a vested interest in preserving the old world economics of oligarchy.

Marx Keiser doesn't like eth & he seems like a smart guy.

Eth is proof-of-stake which has more to do with monopolisation. BTC is proof-of-work which allows anyone with the ability & will to get involved in wealth generation.

PS This is not a 'crypto' forum this is a Bitcoin forum thou vainglorious shills! JK.

[Abiky]

The bitcoin usage is more important than the price. However, everybody is focused on the price because bitcoin is the greatest performing asset of all time

Exactly. It has always been about the price. People invest into Bitcoin with the hopes of turning a profit in the least time possible. The moment prices start going down like crazy, it's the moment people start panicking like there's no tomorrow. Only a small number of people care about Bitcoin's usability. That's usually geeks, libertarians, and cypherpunks. They will use Bitcoin regardless of how much it's worth in Fiat terms simply because it represents freedom. 1 Bitcoin = 1 Bitcoin, right?

I'd wish people would stop focusing on Bitcoin's price, so that the cryptocurrency could achieve its full potential. It's a distant dream that's unlikely to become a reality because greed goes above all else. At least we know Bitcoin won't be going anywhere. As long as it stays true to its decentralized roots, there should be nothing to worry about. Just my thoughts

[xzy887]

I think Bitcoin is faivourite son of father of crypto.

Not only that, I think bitcoin is the pin of crypto and the rest are just inflated balloons. And if the pin ever hits a balloon, all the balloons will burst. And so Bitcoin price is very important in crypto.

[ChiBitCTy]

I think Bitcoin is faivourite son of father of crypto.

Not only that, I think bitcoin is the pin of crypto and the rest are just inflated balloons. And if the pin ever hits a balloon, all the balloons will burst. And so Bitcoin price is very important in crypto.

I think so some extent that’s right but there does feel like to be a bit of separation finally starting to happen between bitcoin and other cryptocurrencies, mainly those that are large and completely different in nature such as ethereum and coins or tokens that in large part have to do with staking such as Hex.

Hopefully bitcoin will start moving away from so closely following the stock market.

[larry_vw_1955]

Exactly. It has always been about the price. People invest into Bitcoin with the hopes of turning a profit in the least time possible.

the thing about bitcoin though is, say it is priced at $20,000. someone invests $1000 into bitcoin. say bitcoin goes up to $21,000. thats a 5% return. but if bitcoin is $50,000 and it goes up by $1000 in one day then only 2% return. On your $1000 you made either $50 or $20 before fees and paying taxes. To really make money it would seem like you have to buy an entire bitcoin.

[Ahli38]

Because of the various uses of bitcoin, the price is also considered important. especially if it is used as an investment. Of course everyone who invests is to profit from rising prices. and what makes the price considered important is because the price can also be a benchmark in the adoption of bitcoin itself. more and more adoption especially in large numbers which indicates that people have become more and more confident in bitcoin. like the incident a few days ago when the price of gold decreased and it turned out that at the same time the price of bitcoin had increased. from there we know that the inflow of funds to invest in bitcoin has increased on the other hand many have come out of gold investments. or many sell gold and the funds are spent on bitcoins. and many more things that we can get either information or profit from a price movement. so price is always important. please correct me if i'm wrong.

[larry_vw_1955]

Because of the various uses of bitcoin, the price is also considered important. especially if it is used as an investment. Of course everyone who invests is to profit from rising prices. and what makes the price considered important is because the price can also be a benchmark in the adoption of bitcoin itself.

well i wouldn't call investing an active form of participation necessarily. just buying and holding doesn't really contribute to bitcoin adoption as much as actually using bitcoin regularly for transactions in the real world. that's what drives adoption. if all that was happening is a bunch of people buying it trying to sell higher, well that's not going to work. think of the stock market. there has to be something backing up the chart.

more and more adoption especially in large numbers which indicates that people have become more and more confident in bitcoin.

i'm not necessarily convinced that people are using bitcoin anymore than they were 10 years ago. for paying for things in the real world. i tend to think that they are but compared to 5 years ago? maybe not. i think its levelled off.

like the incident a few days ago when the price of gold decreased and it turned out that at the same time the price of bitcoin had increased. from there we know that the inflow of funds to invest in bitcoin has increased on the other hand many have come out of gold investments. or many sell gold and the funds are spent on bitcoins. and many more things that we can get either information or profit from a price movement. so price is always important. please correct me if i'm wrong.

well it's hard to attribute a causal link between gold price going down and bitcoin price going up. just because those things happened doesn't mean one caused the other. gold isn't a very volatile price if you compare it to a cryptocurrency. so minor price movements up and down are somewhat normal for it. the only thing that would cause gold to plummet would be an oversupply of gold that came onto the market for some reason.

[Iranus]

Because of the various uses of bitcoin, the price is also considered important. especially if it is used as an investment. Of course everyone who invests is to profit from rising prices. and what makes the price considered important is because the price can also be a benchmark in the adoption of bitcoin itself.

well i wouldn't call investing an active form of participation necessarily. just buying and holding doesn't really contribute to bitcoin adoption as much as actually using bitcoin regularly for transactions in the real world. that's what drives adoption. if all that was happening is a bunch of people buying it trying to sell higher, well that's not going to work. think of the stock market. there has to be something backing up the chart.

Unfortunately, but that's what's going on these days, every market participant invests in bitcoin for profit, no one uses it as a means of payment or currency. I have to tell you that there are very, very few people entering the market just to use bitcoin as a currency.
So you can see that we always talk about bitcoin price, even hope bitcoin will become more popular or more widely accepted also hope that demand is greater than supply, that will help bitcoin price will be high than.

like the incident a few days ago when the price of gold decreased and it turned out that at the same time the price of bitcoin had increased. from there we know that the inflow of funds to invest in bitcoin has increased on the other hand many have come out of gold investments. or many sell gold and the funds are spent on bitcoins. and many more things that we can get either information or profit from a price movement. so price is always important. please correct me if i'm wrong.

well it's hard to attribute a causal link between gold price going down and bitcoin price going up. just because those things happened doesn't mean one caused the other. gold isn't a very volatile price if you compare it to a cryptocurrency. so minor price movements up and down are somewhat normal for it. the only thing that would cause gold to plummet would be an oversupply of gold that came onto the market for some reason.

I think it's just a coincidence, people who have invested in gold mean they like safety so bitcoin is not their choice.

[franky1]

the thing about bitcoin though is, say it is priced at $20,000. someone invests $1000 into bitcoin. say bitcoin goes up to $21,000. thats a 5% return. but if bitcoin is $50,000 and it goes up by $1000 in one day then only 2% return. On your $1000 you made either $50 or $20 before fees and paying taxes. To really make money it would seem like you have to buy an entire bitcoin.

the real thing about bitcoin though
is when bitcoin had its last lag period the price only moved up and down by a couple dollars in an hour

now it moves buy a couple hundred dollars in an hour

so in your example of the era of a base level of $20k vs base level in the future of 50k. the 20k moving by only 1k would be equivalent to the 50k moving by 2.5k

..
just remember small minnow traders. dont buy whole coins where they are pushing up the price by spending larger amounts more per order as the price rises. whats actually happening is the sellers are offering smaller decimal amounts for the same small amounts

EG
0.1 for $400=$4k
0.1 for $420=$4.2k       ($200 change)

0.02 for $400 =$20k
0.02 for $420 =$21000  ($1k change)

0.008 for $400 =$50k
0.008 for $420 =$52500 ($2.5k change)

as you can see the buyer paid the same $20 extra.. but depending what era of price window. it affects the price more profoundly

enjoy that thought

[larry_vw_1955]

the real thing about bitcoin though
is when bitcoin had its last lag period the price only moved up and down by a couple dollars in an hour

now it moves buy a couple hundred dollars in an hour

so in your example of the era of a base level of $20k vs base level in the future of 50k. the 20k moving by only 1k would be equivalent to the 50k moving by 2.5k

why stop there, if bitcoin was $200,000 then it would be moving by $25,000 per HOUR does that seem reasonable to you (oops mistake, $10,000 per hour but still that's pretty alot)? i would expect a decreasing volatility with higher bitcoin prices. but maybe i'm wrong but how could bitcoin survive like that? peoples' networths would be changing fast some getting wiped out by 100 grand in hours sometimes...

..
just remember small minnow traders. dont buy whole coins where they are pushing up the price by spending larger amounts more per order as the price rises. whats actually happening is the sellers are offering smaller decimal amounts for the same small amounts

but as the price rises, the volatility in general should be going down. thus making bitcoin less attractive to a speculator or someone just looking to day trade it. not saying that's bad. just the way it should work out. so in reality, people should be happy bitcoin is way off of its ATH if they are day trading it. right?

[borovichok]

Because of the various uses of bitcoin, the price is also considered important. especially if it is used as an investment. Of course everyone who invests is to profit from rising prices. and what makes the price considered important is because the price can also be a benchmark in the adoption of bitcoin itself. more and more adoption especially in large numbers which indicates that people have become more and more confident in bitcoin. like the incident a few days ago when the price of gold decreased and it turned out that at the same time the price of bitcoin had increased. from there we know that the inflow of funds to invest in bitcoin has increased on the other hand many have come out of gold investments. or many sell gold and the funds are spent on bitcoins. and many more things that we can get either information or profit from a price movement. so price is always important. please correct me if i'm wrong.

Bitcoin is very essential for the us especially for those in the crypto space. The price of Bitcoin have increased over the past years and it's currently dipping, the more reason one should bagged it when the chance is still open. Confident comparising the investors and many purpose added to the coin. I've decided to bagged the little one that I'm able to purchase and keep it for long term because it have a promising future. Crypto assets are measured according to their price value, every investors and traders tend to look at the one that's profitable.

[GeorgeJohn]

There is something more important connected to Bitcoin now. The ecosystem of cryptocurrencies. Bitcoin now represent dollar of crypto world. So it's prices are crucial for the health of whole crypto ecosystem. While there are many people who are buying crypto to make windfall profits. But few who are preserving its sanctity. The dream of Satoshi was to create a decentralised financial system. I think Bitcoin is faivourite son of father of crypto.

Actually you right from the aspect of the objective of Satoshi is to create decentralized financial ecosystem, i the objective of Satoshi is still dwelling in cryptocurrency sphere, because assuming Bitcoin was a centralized currency it would have been destroyed by now, but since the attention and objectives Concentrate on decentralized, that while it haven't be destroyed. It's quite obvious that Bitcoin is father's of any other cryptocurrency.

[Chrlie95]

greedy people are irrational. but if your willing to buy high sell low. you will lose and there is only so many times you can lose before your out of the game and not participating in the pump.. there are only so many idiot traders. and once they are out they are out.

then the pumps end and corrections begin. where only the smart traders are left

Yeah, I totally agree with what you're saying. It's pathetic how so many people try to pump just to make a quick buck, and it's especially risky with NFTs.  It's true, those shouting out ridiculous price targets are usually just trying to get others to buy in so they can sell at a profit.


It's all about finding that balance between greed and smart investing. Gotta be careful out there...

[larry_vw_1955]

It's true, those shouting out ridiculous price targets are usually just trying to get others to buy in so they can sell at a profit.

$250,000 or $500,000 or even $1,000,000 would need to be helped along by uncle sam printing more us dollars which are backed by nothing. but bitcoin itself is not magically going to somehow become worth 10, 20 or 50 times more than it is now as far as its value proposition. so if bitcoin ever did hit $1,000,000 that probably isn't good news for Americans who use us dollars to buy things. 

[franky1]

it doesnt require uncle sam printing trillions of dollars

bitcoins price is set by the current orders of a small amount of coin
EG if people only had a max of say $400 to buy.. then orders would be of 0.025 = 1btc:$16k

also if you look at the most efficient mining hardware and then add on the cheapest electric or the most expensive electric on the planet to effectively mine sustainably.
you come to a window of like
$10k-$75k in 2021
$15k-$95k in 2022

these become the planetary limits of value vs premium
where the markets of speculation then play within those limits

in short no on on planet would soberly want to buy bitcoin in 2021 for more then $75k becasue they would have other methods to acquire bitcoin cheaper(mining)
which is why the market fizzled out of wiling buyers at $70k last year

we are not in a value:premium zone where $100k is an acceptable premium nor $200k, nor $500k right now.. have patience it will get there of offer opportunities in the future

[larry_vw_1955]

it doesnt require uncle sam printing trillions of dollars

maybe not but my theory is that this is what explains bitcoin price from early 2020 up until the present time.

march 2020 bitcoin is around $7500.

First round of economic stimulus checks: April 2020

The CAREs Act included a provision for a round of stimulus payments – eligible tax-paying adults received a check of up to $1,200 while eligible dependents under 16 years of age received $500 each (a maximum of three dependents could be claimed for).


may 2020 bitcoin is selling around $8800. people are using some of their free money printed out of thin air to buy bitcoin. causing price to go up. bitcoin then started a steady rise in price as people began receiving and spending their free money to buy bitcoin over the next 6 to 7 months. not everyone got their free money immediately for some people it took longer maybe a month or two or three. so that by november of 2020 btc price was in the $17,000 range nearing an all time high. but the reason for this ATH was different from the one that happened in dec 2017.

Second round of direct payments: December 2020-January 2021

The second round of aid, a $900 billion package which was part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 was signed off by Trump on 27 December 2020. It provided a one-off check of up to $600, but this time, households were also able to claim an additional $600 for child dependents aged 16 or under.



Third round of stimulus checks: March 2021

Barely a week after the second round of stimulus payments were completed, new president Joe Biden entered office and immediately unveiled his American Rescue Plan, which proposed a third of round of payments to Americans, including some of those who might have missed out on the first two rounds.

On Thursday 11 March, Biden signed his $1.9tn American Rescue Plan into law. The third payment provided eligible individual taxpayers for a check of up to $1,400,

by april of 2021, just 3 months after the 2nd/3rd round of payments was announced and started being sent out, bitcoin had skyrocketed to an ATH of around $65,000 thanks to all this free money being printed and handed out to people. some of them were clearly using that to buy bitcoin. bitcoin was not becoming more valuable through this process, it was just being purchased with us dollars that were becoming more and more worthless...


not only were these programs responsible for btc price rising significantly above the ATH of 2017 but other programs that printed money out of thin air were too such as PPP Loans that didn't have to be repaid and Pandemic Unemployment Assistance by the federal government of $600 per week on top of State benefits. Not everyone was using their free money to buy extra toilet paper some of them found out about Bittrex and Coinbase 

The gravy train couldn't go on forever. The federal government wisened up and put an end to all of these programs. bitcoin could not sustain those price levels once the free money gravy train dried up. demand for bitcoin shrunk, it went back down to where it belonged.

[Ale88]

thing is, for alot of people it seems like when bitcoin price is "high" they think that means it is succeeding more than when it is "low". but if we think about bitcoin's intended purpose, it doesn't matter what the price is as long as bitcoin can be transferred peer to peer without any centralized party being involved. so if bitcoin was worth $1 people shouldn't complain.

The price is one of the indicator of bitcoin's success. What you're saying is totally right, bitcoin will be continued to be used even if it was at $1, but if something goes down from $70k to $1 then it also means that somehow it has failed. There will be people who will keep using bitcoin but forget mass adoption at that point.

Then of course are also people who took the risk to buy bitcoin I can totally understand if they want to get some profit, nothing wrong with that.

[franky1]

looking for reasons of speculative market is not what i do. i look at the base value stuff that supports things that stop a market plunging into darkness
and looking at the economics of stuff that create the top premium resistance that forms the tipping point of an ATH

all the random reasoning of sentiment and speculation in between of the speculative market .. just becomes social dramas of guessing games

but lets delve into the theory of the ATH speculative reasoning of your stimulus theory
did you check the reasons for the 2011 ATH
did you check the reasons for the 2013 ATH
did you check the reasons for the 2017 ATH
those were not caused by stimulus cheques

yes you could see an uptick in volume on a couple months(ish) of a couple stimulus dates

but that volume is in no where comparison to the 2017-18 volumes

by this i mean lets say all 250m adult americans did put some stimulus cheques into bitcoin
they are only putting in a fraction of the $1.2k

250m * lets say $500 =$125b per round
3 rounds in a year =$375b a year volume

exchanges do far more volume over all, than what i calculated as a $375b per year 'stimulus volume'
where even that $375b per year stimulus volume was an exaggeration of all adult americans investing 42% of their cheques

here is the funny
the price in march2020 did peak to $8k. but it also dropped days later(mid march) to under $6k
and yet that march period(pre-stimulus) was the highest volume of trading occurring in 2020-2021
which you cant explain as a stimulus cheque caused high volume event..

the first stimulus of april-may 2020 had no price impact
(yes it had mid-high volume compared to lets say the 2021 volume)

then the december-jan(high volume) stimulus
and march 2021 stimulus was the first peak of a ATH (stimulus 2&3)
but the july 2021-november 2021 was the peak of a ATH with no stimulus period inside those dates

where by first stimulus round didnt see much uptick in volume or price
yes second and third round coincided with the first price ramp up.
but doesnt explain the second ramp up in price from july onwards

which seem too flimsy of a correlation to try to theorise causation
however here is a better theory, which has a test of time proof of over 12 years

so here it is:
with each major price discovery event follows a year later by a ATH
price discover events     year later
2010-first exchange   :  ATH 2011
2012-halving event   :  ATH 2013
2016-halving event   :  ATH 2017
2020-halving event   :  ATH 2021

[Wildwest]

For those of us who invest of course, the price of bitcoin is very important to get profits when we are already in a long-term investment, and some countries and certain places have made bitcoin as a currency for making transactions, the most important thing is that the price of bitcoin can always be at a value that is indeed feasible in making transactions, if the value is low then those of us who have many assets are of course always worried about spending something with bitcoin.

[ModestyKK]

As a currency, the price must be the first thing people pay attention to, and people will have considerable profits, but most people who invest in Bitcoin should understand the characteristics and practicality of Bitcoin.

[larry_vw_1955]

all the random reasoning of sentiment and speculation in between of the speculative market .. just becomes social dramas of guessing games

inflation is not a guessing game. you see it in everyday prices of items. anything that causes inflation of the us dollar is going to result in bitcoin having a higher us dollar price. that doesn't mean bitcoin all the sudden became more valuable though. what it means in this particular case is the us dollar became more worthless so in order to maintain its current value, bitcoin us dollar price has to go up.

so here it is:
with each major price discovery event follows a year later by a ATH
price discover events     year later
2010-first exchange   :  ATH 2011
2012-halving event   :  ATH 2013
2016-halving event   :  ATH 2017
2020-halving event   :  ATH 2021

I expect that trend to be broken in the 2024 halving for sure.

[Nuraiuii]

Bitcoin price is important to crypto investors, and price will be their priority. Earn higher profits by investing in bitcoins, buy bitcoins when they are cheap and sell them at a higher price. As the demand for Bitcoin increases, it becomes more valuable.

[HELENA22]

We're waiting for the 4 horsemen of the apocalypse to arrive

must be waiting for something. at this rate, bitcoin might need to get to $250k or $1mil just to keep up with the joneses.

Time is the best way, time will not wait for you, will you wait for time? This is difficult for many people.

[Diuyen Kim]

Most people now make profits by investing in Bitcoin. Therefore, the price of Bitcoin is more important. Everyone is more concerned about their assets. People are not yet used to paying with cryptocurrencies, and many places do not support cryptocurrency payments.

[ringgo96]

The price of bitcoin is of course very important for every investor, because the price of bitcoin can affect all other altcoins on the market today, even though we have different goals, the value of bitcoin is at the highest price, of course, something we always hope for, bitcoin is a future investment. in the future so many people hope that the characteristics are at the highest point, then the price of bitcoin is very important especially in some countries it has made a legal instrument of payment so payment is the most important thing.

[Fara Chan]

The price is one of the indicator of bitcoin's success. What you're saying is totally right, bitcoin will be continued to be used even if it was at $1, but if something goes down from $70k to $1 then it also means that somehow it has failed. There will be people who will keep using bitcoin but forget mass adoption at that point.

Then of course are also people who took the risk to buy bitcoin I can totally understand if they want to get some profit, nothing wrong with that.

Yes of course, we believe in Bitcoin, even though it has low Value like you said people will still use it. The price of Bitcoin is showing market conditions and the main key in Cryptocurrency (this is my opinion), isn't Altcoin following the movement of Bitcoin and from here it is clear that the price of Bitcoin is the most important thing in the course of Cryptocurrency.

Apart from that, the price of Bitcoin is of course very important for investors, as well as in terms of long-term investment profits, and several countries use Bitcoin as a currency for transactions, and as a currency, of course, price is the most important thing to pay attention to. The price of Bitcoin is a top priority, and this includes everything in Cryptocurrency.

[Zilon]

Bitcoin is an asset as well as a currency, it is up to the hodler to decide how they chose to handle theirs. The initial idea was a p2p network but with unstable demand and supply alongside the long-standing halving price will remain a big concern because everyone will choose how they treat their coin differently. Some might just spend it as a currency while many will see it as an investment channel

[Abiky]

The price is one of the indicator of bitcoin's success. What you're saying is totally right, bitcoin will be continued to be used even if it was at $1, but if something goes down from $70k to $1 then it also means that somehow it has failed. There will be people who will keep using bitcoin but forget mass adoption at that point.

Then of course are also people who took the risk to buy bitcoin I can totally understand if they want to get some profit, nothing wrong with that.

That's certainly true, mate. A huge dip in Bitcoin's price would certainly give a bad impression to the public. It would mean Bitcoin has failed as a store of value (even if the blockchain would still be alive and running). I don't think prices will stay low for too long, especially when Bitcoin hasn't reached the mainstream yet. Once the whole world is using Bitcoin, you can bet market prices will go all the way to $1m. That, and also the fact that the Russia-Ukraine war and rising inflation rates need to end for BTC to go all the way to the moon.

I'm pretty sure it will be all over by the next Bitcoin halving in 2024. People won't want to miss the train once BTC skyrockets like crazy. While market prices are important, they're certainly not as important as the health of the blockchain itself. With how far BTC has gone since its inception, I don't think it will die just like that. Who knows if it lives for generations? Just my opinion

[Rahul09]

The price of bitcoin is of course very important for every investor, because the price of bitcoin can affect all other altcoins on the market today, even though we have different goals, the value of bitcoin is at the highest price, of course, something we always hope for, bitcoin is a future investment. in the future so many people hope that the characteristics are at the highest point, then the price of bitcoin is very important especially in some countries it has made a legal instrument of payment so payment is the most important thing.

I myself hope that Bitcoin will reach the highest level in the future. Not only to me, but one day Bitcoin will be legalized in all countries and will become the asset of the future. And the entire market depends on the price of this Bitcoin. Whenever the price of Bitcoin is down all the tokens in the market are down and when the price of Bitcoin is up all the tokens are up in price. And that's why the price of Bitcoin is more important to us.

[solehdavid]

I agree with that but people are using bitcoin in a way that suits their purposes better and you can't say anything about that. some of us see it as a convenience and some of us see it as a way to make money. it has become an industry and some people are making really good money in this industry

[franky1]

all the random reasoning of sentiment and speculation in between of the speculative market .. just becomes social dramas of guessing games

inflation is not a guessing game. you see it in everyday prices of items. anything that causes inflation of the us dollar is going to result in bitcoin having a higher us dollar price. that doesn't mean bitcoin all the sudden became more valuable though. what it means in this particular case is the us dollar became more worthless so in order to maintain its current value, bitcoin us dollar price has to go up.

the funny thing about inflation is.. dollar has always been in an inflation
ever since 2002-2007-2012 you can check the price of most goods of 10-15-20 years compared to now and the average change in price is actually been quite the same. its just a few ear-marked baskets of goods used by CPI were held down to fake a lower rate while real prices of everything else have gone up

i remember 20 years ago the price of UK fuel was 70p/litre now its over £1.40
this means 100% extra in the price of 2002. 100%/20=5%

yes inflation happens but that does not mean that becasue news company finally admits the government finally updated its rates to show a different rate this year .. does not mean this year causes real term need to buy more bitcoin. people have already been hedging fiat for years.

you wanting the price to suddenly jump now this week due to something you read on the news about inflation.. is different to the real shopping habits people see as price changes over the last few years

so here it is:
with each major price discovery event follows a year later by a ATH
price discover events     year later
2010-first exchange   :  ATH 2011
2012-halving event   :  ATH 2013
2016-halving event   :  ATH 2017
2020-halving event   :  ATH 2021

I expect that trend to be broken in the 2024 halving for sure.

the 2011 ATH set the first spike a year after new price discovery event(first exchange)
the 2013 came earlier by a couple months than the prediction of the 2011 would cause
the 2016 came later
the 2020 came with 2 peaks to try emulating the mix of the peaks of the previous cycles

so here is the peaks mapped out in cycles

2010-2012 2012-2016 2016-2020 2020-2022


in short we are correctly in the 'low zone' of each cycle

i would say in the 2025 ATH attempt there will be one,2,3 peaks in the same area as those peaks and then ~2 years of lows on a slow growth
...
and here is the price range to expect the markets to work within depending on the value:premium zone based on mining hashrate of this gens hardware and costs


in short if 2023 hashrate is about 250exa, the price would wiggle SOMEWHERE between $15k-$100k
in short if 2023 hashrate is about 330exa, the price would wiggle SOMEWHERE between $20k-$130k
in short if 2023 hashrate is about 500exa, the price would wiggle SOMEWHERE between $31k-$200k

[mash23]

One thing is the original idea and another is how that idea evolves when it becomes a reality. Today we see many things that deviate from Satoshi's original idea, and not only in terms of the price that you mention.

[larry_vw_1955]

in short if 2023 hashrate is about 250exa, the price would wiggle SOMEWHERE between $15k-$100k
in short if 2023 hashrate is about 330exa, the price would wiggle SOMEWHERE between $20k-$130k
in short if 2023 hashrate is about 500exa, the price would wiggle SOMEWHERE between $31k-$200k

well i dont know about those price ranges. they seem so wide. maybe if you could make them narrower they would have more meaning.

bitcoin can never stop trying to increase the hashrate as new tech comes out otherwise it could suffer a 51% attack. so there will never be a high enough hashrate that could secure the network indefinitely. it would be nice if that weren't the case but it is what it is.