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Author Topic: Does Bitcoin’s Price Really Matter Right Now?  (Read 3475 times)
selene72
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October 09, 2014, 12:29:36 PM
Last edit: July 15, 2015, 02:29:10 PM by selene72
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October 09, 2014, 01:01:44 PM
 #2

I think it depends on the person, If you're the type that has load of cash and just throws away money then you probably wont care about the price.
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October 09, 2014, 01:51:24 PM
 #3

Bitcoin price always matter, when the price is low it's a good opportunity to buy, but for the average joe is bad press. Seeing this in manstreaim media is definitely not good for us..:

http://time.com/money/3474838/bitcoin-price-crash/
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October 09, 2014, 03:21:19 PM
 #4

It doesnt. As long as you are in to it. It doesnt really matter how much it cost..
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October 09, 2014, 03:21:46 PM
 #5

Bitcoin price always matter, when the price is low it's a good opportunity to buy, but for the average joe is bad press. Seeing this in manstreaim media is definitely not good for us..:

http://time.com/money/3474838/bitcoin-price-crash/


Bitcoin is to ugly, to complicated and to unnecessary for the average joe anyway. He doesn't need mainstream media to scare him off.
The average joe will join only after everything is polished and only when enough vendors offer discounts for purchases with bitcoin.

Pretty much the same thing that happened with the internet.
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October 10, 2014, 01:44:52 AM
 #6

It matters only to the short term speculators. Most of them have been scared away in any case.  Smiley
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October 10, 2014, 11:16:58 AM
 #7

its good and bad - Good because I like to add each month if its on a dip (like when it hit 311 I bought 2)  But its also bad because I have to hear from all the morons who question why I am running a s2 and other asics trying to invest in btc. 

The naysayers always start running their mouth to me on big dips lol



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October 10, 2014, 12:30:38 PM
 #8

Dips from the price benefits the long term hodlers but scares the hell out of the weak hands. Yes, the price does matter because it helps bitcoin to gain more attention to the media (and the common people also, of course).




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October 10, 2014, 01:25:51 PM
 #9

Whether Bitcoin's price matters or not both depends on your psychological reference point for 'value' and on the use case.

If your psychological reference point for 'value' is the US-Dollar, you'll see Bitcoin as a more or less ordinary investment like stocks or bonds. A drop in price will hurt you, because you'll get less $$ if you sell your Bitcoin which equals to a negative return on investment.

If your psychological reference point for 'value' is Bitcoin, you'll see the US-Dollar gaining value and maybe you'll ask yourself if buying US$ is a good investment. But you'll know for sure that the US$ is manipulated by a central bank and that such currencies will be a thing of the past. So it doesn't hurt you at all. Wink

That's for the investment / store of value use case. The merchant / trade use case isn't affected by the price at all, because either Bitcoin is directly converted into US$ (for those merchants with a US$ value reference point) or it is kept and never converted, making US$-price meaningless.
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October 10, 2014, 03:24:52 PM
 #10

Yes, it matters for the mining farms runned for the profit from cashing out the mined bitcoin. They have a lot of overheads such as electricity, upgrade, rent, staff salary etc deducted from the cash through converting bitcoin, the amount of which largely relies on the bitcoin conversion rate. They must be covered , furthermore extra profits are needed to satisfy the shareholders to carry on the mining business.

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October 10, 2014, 03:47:45 PM
 #11

The price only matters to speculators and miners. The Bitcoin system works well regardless of the price. The price needs to rise in order for the Bitcoin economy to grow, but a growing Bitcoin economy will cause the price to rise anyway.

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October 12, 2014, 01:00:06 AM
 #12

Dips from the price benefits the long term hodlers but scares the hell out of the weak hands. Yes, the price does matter because it helps bitcoin to gain more attention to the media (and the common people also, of course).

Price drops seem to attract a lot more attention from the media.  Grin
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October 14, 2014, 07:51:52 AM
 #13

The price only matters to speculators and miners. The Bitcoin system works well regardless of the price. The price needs to rise in order for the Bitcoin economy to grow, but a growing Bitcoin economy will cause the price to rise anyway.
I think this comment is very correct and logical.
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October 14, 2014, 09:50:58 AM
 #14

Dips from the price benefits the long term hodlers but scares the hell out of the weak hands. Yes, the price does matter because it helps bitcoin to gain more attention to the media (and the common people also, of course).

Price drops seem to attract a lot more attention from the media.  Grin

Price spikes attract even more media attention.

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October 14, 2014, 10:51:56 AM
 #15

Of course the price matters and it matters differently to different people. If you want to trade it's bad if it loses value or if you want to spend it and it loses value before you get the chance it's bad because you've lost money, but in the grand scheme of things the price today doesn't matter that much because it's what it's value and worth will be once it reaches it's full potential imo.
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October 14, 2014, 10:53:13 AM
 #16

The answer to this depends on if you are holding large amounts of bitcoins, or if you are in it for the technology. If you are holding over 1000 coins, then the price definitely matters for you. But if you are someone who doesn't hold a large amount for long, and just use its technological advantage like low transfer fees, then it doesnt.
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October 14, 2014, 10:55:48 AM
 #17

I think the best price of 1 BTC should be around 100$ making it affordable and allowing everyone to make good use of it. Just because of the 21 million coin limit , it is at the price where it is now. I never hold large amounts because I can't take the swings, but I think, it doesn't matter much.

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October 14, 2014, 10:56:56 AM
 #18

The answer to this depends on if you are holding large amounts of bitcoins, or if you are in it for the technology. If you are holding over 1000 coins, then the price definitely matters for you. But if you are someone who doesn't hold a large amount for long, and just use its technological advantage like low transfer fees, then it doesnt.

I disagree with this. People who hold less probably feel the weight of the low price more, especially if you actually want to spend it. People are unlikely to transact with their coins at a loss. Doesn't make sense to spend something if you're losing money. In this instance I would hold until I've at least broken even before I part/sell my coins.
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October 14, 2014, 10:59:25 AM
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The answer to this depends on if you are holding large amounts of bitcoins, or if you are in it for the technology. If you are holding over 1000 coins, then the price definitely matters for you. But if you are someone who doesn't hold a large amount for long, and just use its technological advantage like low transfer fees, then it doesnt.

I disagree with this. People who hold less probably feel the weight of the low price more, especially if you actually want to spend it. People are unlikely to transact with their coins at a loss. Doesn't make sense to spend something if you're losing money. In this instance I would hold until I've at least broken even before I part/sell my coins.

I meant that if the price of bitcoin had always averaged around 100$ , then the price wouldn't really matter to people who just use the bitcoin protocol technology .But if you hold smaller amounts and the price falls from 400 to 100, then Holding is a decent thing.
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October 14, 2014, 01:03:26 PM
 #20

The price certainly matters if you are holding bitcoins over an extended period of time. No one likes to lose value. However, the value in the long run is what really matters rather than the short term.
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