.

[leex1528]

I value the coin at what it is currently valued at, just like any other currency that I am using.  It is worth as much as it is worth at that moment.

[1715263055]

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[jonald_fyookball]

Youre saying the real value is something other than what peoplr are wiling to transact for.  How do you figure?

[Bitcoin Magazine]

do u have to report on your income tax if you bought a car with BTC

[leex1528]

The value of a single coin should be the mean figure of what all its users value it at.

what I'm trying to get across is: the way the current price is decided by the biggest exchanges is... flawed, aka not a real representation of most peoples opinion and maybe there could be a better way to determine the average price than a bid/ask system?

That is not only what its like for Bitcoin, also everything that can be used as currency...The only thing is Bitcoin changes a lot more.

[QuestionAuthority]

I value the coin at what it is currently valued at, just like any other currency that I am using.  It is worth as much as it is worth at that moment.

The value of a single coin should be the mean figure of what all its users value it at.

what I'm trying to get across is: the way the current price is decided by the biggest exchanges is... flawed, aka not a real representation of most peoples opinion and maybe there could be a better way to determine the average price than a bid/ask system?

Right now it's $380.21.

Bitcoin, like all things in life, is worth exactly what someone is willing to pay you for it.

[RodeoX]

$700, That is what I would sell 1BTC for right now. So my bitcoins are worth $700 each.

[MrBig]

I value the coin at what it is currently valued at, just like any other currency that I am using.  It is worth as much as it is worth at that moment.

The value of a single coin should be the mean figure of what all its users value it at.

what I'm trying to get across is: the way the current price is decided by the biggest exchanges is... flawed, aka not a real representation of most peoples opinion and maybe there could be a better way to determine the average price than a bid/ask system?

Right now it's $380.21.

Bitcoin, like all things in life, is worth exactly what someone is willing to pay you for it.

Can't argue against this statement. If btc was worth $800 right now, that's the price people would be paying for it.

[jonald_fyookball]

Youre saying the real value is something other than what peoplr are wiling to transact for.  How do you figure?

I'm saying the value on bid/ask exchanges is held back due to the method used to formulate the 'current price'

Do you have any evidence or arguments to support your theory?

Simply put:  I believe you're mistaken.

The current price is based on the order flow
and the real world market participants.
The minutia of the method is irrelevant.

Now keep in mind, the price could be much
more easily manipulated if there was a single, centralized
exchange.  But because there are many
exchanges, any substantial deviation from true market
price would create arbitrage opportunities, which in turn
would bring the market price back to its proper value.

[iwillwin]

Its a pity that bitcoin prices are dipping these days. But I do have some strong hope that they are gonna resurface in near future.

[johnyj]

Ok, I would sell two of my bitcoins for $2000 each. I would sell the rest at $10,000 each. So for me, a Bitcoin is not worth $600. No way I would sell one of my bitcoin for $600.

For me, the value of bitcoin is what it is worth selling for. Purely personal, but yeah.

That's a very good point! Not every one of my coin worth the same, maybe 5% of them worth the current market price but the rest will worth a lot, and the last bit of them would worth infinite

[LFC_Bitcoin]

Not current valuation but I'd be very happy with 10,000 USD each.
I'd be set up for life then with my coins.
I suppose that's the ultimate dream.

[TheButterZone]

$1250 to sell mine, $1 to buy as long as it's being manipulated below the ATH.

[practicaldreamer]

$1250 to sell mine, $1 to buy

Thats quite a spread  - and the market price is what ?

$393 as I write

[johnyj]

exchanges play with SQL database values and mess with prices using small amounts. i personally do not care about what prices exchange use.

yet, places like local bitcoins which are true bank transfer for real bitcoins are a better judge of value as they cannot be manipulated via day trading.

although i do still find alot of localbitcoin traders sheep following exchange prices rather than being what they should be (trend setters, not sheep followers)

Good points

Localbitcoin traders and other brokers like coinbase and safello typically get their coin from large exchanges. Although the buyer is always more than seller on localbitcoins, as long as those brokers can purchase from exchanges without affecting exchange's price too much, the exchange rate still holds. Anyway, the exchanges have larger volume of coins trading daily

When a liquidity crisis hit and brokers are unable to get coins from large exchanges in time, they will raise the rate quickly in a tempt to cool down the demand (and that usually does not work during a rally, a raised rate will trigger more demand), and later when delayed order rushed into large exchanges, the price of those exchanges will shoot up rather quickly

The manipulators on large exchanges will only create temporary flash crash, later when more fiat money arrived from those brokers, they have to cover their position quickly before those brokers start to buy and withdraw large amount of coins. They can create fictional bitcoins on the trading platform, but they can't deal with real bitcoin withdraw

[jonald_fyookball]

If btc was worth $800 right now, that's the price people would be paying for it.

Interesting you should say that, i quickly ran the numbers as they stand now...

Taking all the (sensible) entries into consideration

paul = avg 750
sindelar = avg 550
beliathon = 1000 (infinity is obviously higher than 1000 so we'll accept that)
franky = avg 550
fryarminer = 2000
eternal = 400
leex = 400 (based on current bitstamp price)
questionauth = 400 (based on current bitstamp price)
rodeox = 700
butterzone = 1250

Total of 10 people replied.

Add all the numbers up you get 8000

8000 divide by 10 = $800

so the mean price of 1 bitcoin, from the 10 people who replied in this post alone is higher than the supposed 'free market' price on the exchanges 
 

Mostly this group is long term investors I would assume.
There are many other market participants such as
short term traders, miners, short sellers...not to
mention the fact that 10 people is too small a sample
size to be statistically valid.

[Guido]

$950+

[A2K]

In my highly uninformed opinion, I base Bitcoin's value on its potential.  If indeed we can capture a significant market share (even just 1% of the GDP for the world) we would easily be looking at $50K-$100K per bitcoin in the next 5-10 years.  Just an opinion though, so take it with a grain of salt. 

[SomethingElse]

I wouldn't be surprised if there isn't another run and bitcoin becomes as valuable as an ounce of gold

[BitcoinBettor]

i also believe this to be a result of the 'free market' being held back by using a system of exchange designed for 'analogue' inflationary systems and that a new system is required for a digital deflationary system.

This is why I love the NXT asset exchange, all transactions are on the blockchain!
It's shocking to me that their is not a Bitcoin based exchange that embeds ALL activity on the blockchain, so that it can be proved what market depth is and price discovery truly is.

[A2K]

Hope this is not against the board rules (seeing as how I'm new here) but you should check into Fiverr howelzy.  They may have someone willing to develop something for you for much more cheaply than you might expect.