Bitcoin price can only rise, here's why

[nuff]

Because the number of bitcoins that can ever be created is limited, because the cost of mining bitcoins will keep getting higher and higher as it gets more difficult to mine, because less and less bitcoins will be mined the more there are mined, because awareness and adoption and infrastructure can only grow, because more people are going to want bitcoins, and because fiat is inflationary,  the value of bitcoins will and can only rise. Bitcoin has the law of mathematics backing it, the only certain law that governs the universe.

[Phillis]

Because the number of bitcoins that can ever be created is limited, because the cost of mining bitcoins will keep getting higher and higher as it gets more difficult to mine, because less and less bitcoins will be mined the more there are mined, because awareness and adoption and infrastructure can only grow, because more people are going to want bitcoins, and because fiat is inflationary,  the value of bitcoins will and can only rise. Bitcoin has the law of mathematics backing it, the only certain law that governs the universe.

the price rises based on the demand for owning/using it as well a vehicle for speculation.

[Dafar]

All that means absolutely nothing if there is no demand. People need to use bitcoin, and want to purchase bitcoin, and right now we are just a niche in the grand scheme. Bitcoin is not all that convenient and simple to work with at the moment, it will take some time or end up as a failed experiment.

[Foxpup]

This is the labour theory of value, and it is bogus. Just because something is difficult and expensive to produce, does not mean it is valuable.

[Ayers]

if that would be true, then having 100M dividends would be pointless

[nuff]

All that means absolutely nothing if there is no demand. People need to use bitcoin, and want to purchase bitcoin, and right now we are just a niche in the grand scheme. Bitcoin is not all that convenient and simple to work with at the moment, it will take some time or end up as a failed experiment.

Are you saying there's no demand for bitcoin? If you, or anyone here wishes to get rid of their bitcoins, I'll gladly take them. At no charge
 

[Dafar]

All that means absolutely nothing if there is no demand. People need to use bitcoin, and want to purchase bitcoin, and right now we are just a niche in the grand scheme. Bitcoin is not all that convenient and simple to work with at the moment, it will take some time or end up as a failed experiment.

Are you saying there's no demand for bitcoin? If you, or anyone here wishes to get rid of their bitcoins, I'll gladly take them. At no charge
 

There is demand from you and me, but not the general public

[spazzdla]

As long as those in Bitcoin continue to be in bitcoin and continue to support BTC this is true.

[nuff]

There is demand from you and me, but not the general public

there's no demand for gold from the general public either. How many percent of the world populations owns gold? Yet gold prices have risen and are at an ATH. And gold's true intrinsic value isn't even close to the perceived market price, but that didn't stop it from demanding the current price it is now innit. Scarcity is what gave gold its value. Bitcoin has that same element and it's knowingly finite. That's all you need to make something valuable. coupled with fungibility and liquidity of course.

[Dafar]

There is demand from you and me, but not the general public

there's no demand for gold from the general public either. How many percent of the world populations owns gold? Yet gold prices have risen and are at an ATH. And gold's true intrinsic value isn't even close to the perceived market price, but that didn't stop it from demanding the current price it is now innit. Scarcity is what gave gold its value. Bitcoin has that same element and it's knowingly finite. That's all you need to make something valuable. coupled with fungibility and liquidity of course.

There used to be demand for gold, it used to be the universal currency and some national currencies are still linked with gold (so most people don't even need to own actual gold). The US disconnected the dollar form gold since Nixion was president and that is the only reason it seems like there is no demand for it, but let's be honest here bitcoin doesn't come anywhere close at the moment, even though bitcoin works much better as a currency.

If scarcity is the main factor that gives value why are 90% of alt/shitcoins completely worthless?  Just because there is a supply cap doesn't mean people will jump hoops to get it.

[nuff]

There used to be demand for gold, it used to be the universal currency and some national currencies are still linked with gold (so most people don't even need to own actual gold). The US disconnected the dollar form gold since Nixion was president and that is the only reason it seems like there is no demand for it, but let's be honest here bitcoin doesn't come anywhere close at the moment, even though bitcoin works much better as a currency.

If scarcity is the main factor that gives value why are 90% of alt/shitcoins completely worthless?  Just because there is a supply cap doesn't mean people will jump hoops to get it.

In the world of cryptocurrency, the one with the first mover advantage is the be all end all. All other altcoins that comes after the first one will basically have to be based on the first one, even though and no matter it has better features or not. The way cryptocurrencies work or even exist in the first place is because of Bitcoin. So Bitcoin can't ever die, just like Internet can't ever die. It's a protocol. There may be an Internet 2.0 if there needs be and in the same way there will be a Bitcoin 2.0 if there needs be but it won't ever disappear.

[Dafar]

I hope you're right nuff said.. im highly invested myself but i have a level of caution too

[reg]

There is demand from you and me, but not the general public

there's no demand for gold from the general public either. How many percent of the world populations owns gold? Yet gold prices have risen and are at an ATH. And gold's true intrinsic value isn't even close to the perceived market price, but that didn't stop it from demanding the current price it is now innit. Scarcity is what gave gold its value. Bitcoin has that same element and it's knowingly finite. That's all you need to make something valuable. coupled with fungibility and liquidity of course.

There used to be demand for gold, it used to be the universal currency and some national currencies are still linked with gold (so most people don't even need to own actual gold). The US disconnected the dollar form gold since Nixion was president and that is the only reason it seems like there is no demand for it, but let's be honest here bitcoin doesn't come anywhere close at the moment, even though bitcoin works much better as a currency.

If scarcity is the main factor that gives value why are 90% of alt/shitcoins completely worthless?  Just because there is a supply cap doesn't mean people will jump hoops to get it.

I think the main ideas in this thread are correct in that there are many reasons which are unique to btc that implies it can only become universal and therefore rise in value. fiat is manipulated as are gold prices at the moment but i am not aware of any currencies still backed by gold? any examples you can give?

[nuff]

I think the main ideas in this thread are correct in that there are many reasons which are unique to btc that implies it can only become universal and therefore rise in value. fiat is manipulated as are gold prices at the moment but i am not aware of any currencies still backed by gold? any examples you can give?

It's precisely that fiat isn't backed by gold anymore, something that has a limit and is finite, that fiat is inflationary. That is precisely why we have million dollar homes and billion dollars companies. Because there is no limit how many fiats can be printed out of thin air. Fiat which is unlimited need to compensate for something like Bitcoin which is limited. It's simply the law of mathematics

[Dafar]

There is demand from you and me, but not the general public

there's no demand for gold from the general public either. How many percent of the world populations owns gold? Yet gold prices have risen and are at an ATH. And gold's true intrinsic value isn't even close to the perceived market price, but that didn't stop it from demanding the current price it is now innit. Scarcity is what gave gold its value. Bitcoin has that same element and it's knowingly finite. That's all you need to make something valuable. coupled with fungibility and liquidity of course.

There used to be demand for gold, it used to be the universal currency and some national currencies are still linked with gold (so most people don't even need to own actual gold). The US disconnected the dollar form gold since Nixion was president and that is the only reason it seems like there is no demand for it, but let's be honest here bitcoin doesn't come anywhere close at the moment, even though bitcoin works much better as a currency.

If scarcity is the main factor that gives value why are 90% of alt/shitcoins completely worthless?  Just because there is a supply cap doesn't mean people will jump hoops to get it.

I think the main ideas in this thread are correct in that there are many reasons which are unique to btc that implies it can only become universal and therefore rise in value. fiat is manipulated as are gold prices at the moment but i am not aware of any currencies still backed by gold? any examples you can give?

Actually, there probably isn't anymore, my mistake

[reg]

in which case gold like btc which has a commodity value as well as a currency value and is known to have a limited supply, so it must be grossly undervalued! I think we just wait and see how it plays out.

[RodeoX]

If it can only rise then why is it often dropping? There are no guarantees in this social experiment. I believe it has a future. But my opinion plus a cup of coffee equals... a cup of coffee.

[blablaace]

i hope that you are right, guys

[nuff]

If it can only rise then why is it often dropping? There are no guarantees in this social experiment. I believe it has a future. But my opinion plus a cup of coffee equals... a cup of coffee.

To quote Albert Einstein: "as far as the laws of mathematics refer to reality, they are not certain; and as far as they are certain, they do not refer to reality."

In reality, there are a lot of factors to consider. Market manipulations. Human fear and stupidity. Unawareness. Computer glitches and human errors. etc.

But if you truly understand the mechanism behind Bitcoin as a cryptocurrency, you would be baffled as well as to why there can be drops in its price when it should be linearly increasing in an ideal, purely mathematical and logical world

[reg]

If it can only rise then why is it often dropping? There are no guarantees in this social experiment. I believe it has a future. But my opinion plus a cup of coffee equals... a cup of coffee.

that brings us back to the obvious "no one can fortell the future" however i plan future events in the hope things remain stable enough for them to come to be. if you refer to btc price changes there are enough reasons on this forum to explain that, however I believe that btc is an idea who's time has come and it is a mathematically based platform that will eventually change everything. its more than a social experiment it is a functioning alternative to give back individuals autonomy that has been appropriated by one means or another for the last 6000 years. that's worth being a part of imo.