Bitzkrieg (OP)
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February 07, 2015, 02:32:31 PM |
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I am really sorry but I just couldnt believe this. Bitcoin's value increasing? Bitcoin's value increasing? maybe the author is hiding in the moon. Since the last quarter of last year until now, Bitcoin's value is decreasing (so as its price). If something is high in value should also be high in price. Am I right?
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newIndia
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February 07, 2015, 02:36:52 PM |
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If something is high in value should also be high in price.
Am I right?
For a short span like 1-2 year, you are wrong.
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H.W.Z
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February 07, 2015, 02:47:39 PM |
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the problem is BTC is crypto and existing only in the form of digital. There is no many practical applications yet. The intrinsic value is difficult to measure and the moving price is usually drived by speculation.
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runpaint
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February 07, 2015, 03:10:08 PM |
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The price went to $1000 because people started realizing Bitcoin's future value. When more people use Bitcoin, and when the block reward halves, it will cost more to mine and it will be harder and more expensive to get. So they started paying the future price. It will still be worth that in the future, but other people started realizing that it's not quite there yet.
And some people suspect that the price is being held down by exchanges selling more BTC than they have, using a fractional reserve, so that there are more BTC available on market than actually exist. If the supply is artificially increased that way, it keeps the price down.
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GoldenCryptoCommod.com
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BillyBobZorton
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February 07, 2015, 03:11:27 PM |
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We are talking about a mega experimental project so forget about the price for now.
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TreasureSeeker
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February 07, 2015, 03:11:41 PM |
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In the sense that value = usefulness and similar qualities then yes, Bitcoin's value continues to increase as more places accept it week by week. Over the longer term it will continues to increase in financial terms also. I've said it about Litecoin and the same applies to Bitcoin that I'm pretty sure we've recently reached the bottom and the only way is up now. Incidentally, the author has not worded it well when he says Today, the maximum amount of bitcoin available is 21 million, This will eventually be the maximum ever but today there are only less than 14 million.
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Oscilson
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February 07, 2015, 04:08:39 PM |
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The value (usefulness or adoption) is increasing, however the price is dropping, has stablized recently.
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manselr
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February 07, 2015, 04:14:00 PM |
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In the sense that value = usefulness and similar qualities then yes, Bitcoin's value continues to increase as more places accept it week by week. Over the longer term it will continues to increase in financial terms also. I've said it about Litecoin and the same applies to Bitcoin that I'm pretty sure we've recently reached the bottom and the only way is up now. Incidentally, the author has not worded it well when he says Today, the maximum amount of bitcoin available is 21 million, This will eventually be the maximum ever but today there are only less than 14 million. They always get it wrong. I've seen lots of new reporters saying bitcoin has an unlimited supply value lol.
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pitham1
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February 08, 2015, 11:40:00 AM |
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In the sense that value = usefulness and similar qualities then yes, Bitcoin's value continues to increase as more places accept it week by week. Over the longer term it will continues to increase in financial terms also. I've said it about Litecoin and the same applies to Bitcoin that I'm pretty sure we've recently reached the bottom and the only way is up now. Incidentally, the author has not worded it well when he says Today, the maximum amount of bitcoin available is 21 million, This will eventually be the maximum ever but today there are only less than 14 million. They always get it wrong. I've seen lots of new reporters saying bitcoin has an unlimited supply value lol. They seem to be confusing the divisibility of Bitcoin with the supply.... Cheez.
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LiteCoinGuy
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February 08, 2015, 12:02:42 PM |
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I am really sorry but I just couldnt believe this. Bitcoin's value increasing? Bitcoin's value increasing? maybe the author is hiding in the moon. Since the last quarter of last year until now, Bitcoin's value is decreasing (so as its price). If something is high in value should also be high in price. Am I right? learn more about BTC and you will understand it ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Q7
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February 08, 2015, 12:28:49 PM |
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For me, I'll put aside price stability. In fact you can't do anything on that as speculation and trading are bound to take place. Instead measure the "value" based on the level of adoption and acceptance among the people. I'm more concerned on that than anything else. It's the fundamental that actually sets things right.
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fiN.
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February 08, 2015, 01:01:07 PM |
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The price went to $1000 because people started realizing Bitcoin's future value. When more people use Bitcoin, and when the block reward halves, it will cost more to mine and it will be harder and more expensive to get. So they started paying the future price. It will still be worth that in the future, but other people started realizing that it's not quite there yet.
And some people suspect that the price is being held down by exchanges selling more BTC than they have, using a fractional reserve, so that there are more BTC available on market than actually exist. If the supply is artificially increased that way, it keeps the price down.
Didn't it go to 1k because of fake insider trading on mt.gox? If this was true the price should still be high because bitcoin still has massive future potential value.
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runpaint
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February 08, 2015, 01:06:54 PM |
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The price went to $1000 because people started realizing Bitcoin's future value. When more people use Bitcoin, and when the block reward halves, it will cost more to mine and it will be harder and more expensive to get. So they started paying the future price. It will still be worth that in the future, but other people started realizing that it's not quite there yet.
And some people suspect that the price is being held down by exchanges selling more BTC than they have, using a fractional reserve, so that there are more BTC available on market than actually exist. If the supply is artificially increased that way, it keeps the price down.
Didn't it go to 1k because of fake insider trading on mt.gox? If this was true the price should still be high because bitcoin still has massive future potential value. MtGox wasn't the only exchange, and the bots weren't the only ones trading. Therefore, plenty of real people believed that it was worth $1000, and they willingly paid that much for it. If you read my post again, you will see why the price isn't quite as high now. Today, you can mine a bitcoin for $200. In the future, it will cost over $1000 to mine a bitcoin. So people paid $1000, because it will be worth more than that in the future. But other people sold for $200, because they can make money doing that today.
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GoldenCryptoCommod.com
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Sugarape
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February 08, 2015, 02:27:44 PM |
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The price went to $1000 because people started realizing Bitcoin's future value. When more people use Bitcoin, and when the block reward halves, it will cost more to mine and it will be harder and more expensive to get. So they started paying the future price. It will still be worth that in the future, but other people started realizing that it's not quite there yet.
And some people suspect that the price is being held down by exchanges selling more BTC than they have, using a fractional reserve, so that there are more BTC available on market than actually exist. If the supply is artificially increased that way, it keeps the price down.
Didn't it go to 1k because of fake insider trading on mt.gox? If this was true the price should still be high because bitcoin still has massive future potential value. MtGox wasn't the only exchange, and the bots weren't the only ones trading. Therefore, plenty of real people believed that it was worth $1000, and they willingly paid that much for it. No but gox was the biggest exchange at the time and the price was due to artificial inflation and it had a knock on effect. It doesn't matter what 'real' people believed it was worth. The volume and trades were still faked and the collapse happend and now we see likely what is its true price.
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runpaint
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February 08, 2015, 02:52:06 PM |
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It doesn't matter what 'real' people believed it was worth. The volume and trades were still faked
Make up your mind. Does it matter if it was faked? Are fake trades any different than real trades from real people? I think it matters. Plenty of people think BTC is worth $1000, but there aren't enough of them and they don't have enough money to buy all the BTC in the world. Yet.
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GoldenCryptoCommod.com
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BitNerd
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February 08, 2015, 05:17:43 PM |
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In the sense that value = usefulness and similar qualities then yes, Bitcoin's value continues to increase as more places accept it week by week. Over the longer term it will continues to increase in financial terms also. I've said it about Litecoin and the same applies to Bitcoin that I'm pretty sure we've recently reached the bottom and the only way is up now. Incidentally, the author has not worded it well when he says Today, the maximum amount of bitcoin available is 21 million, This will eventually be the maximum ever but today there are only less than 14 million. They always get it wrong. I've seen lots of new reporters saying bitcoin has an unlimited supply value lol. They just can't understand anything out of the centralized power system they serve, and if they do, will try to undermine it.
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BigGameCAsino
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February 09, 2015, 03:09:56 AM |
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I am really sorry but I just couldnt believe this. Bitcoin's value increasing? Bitcoin's value increasing? maybe the author is hiding in the moon. Since the last quarter of last year until now, Bitcoin's value is decreasing (so as its price). If something is high in value should also be high in price. Am I right? Are you high? Maybe you are. Have you seen the recent news? If not.. Then read again.
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Nagle
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February 09, 2015, 08:14:22 AM |
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If you read my post again, you will see why the price isn't quite as high now. Today, you can mine a bitcoin for $200. In the future, it will cost over $1000 to mine a bitcoin. No, no, you don't understand mining at all. The price of Bitcoin drives mining activity and difficulty, not the other way round. All miners are competing for a fixed size block of coins. The cost of mining a Bitcoin for the most efficient players will always be below its price, or the miners will drop out. This does not work like other commodities, where an increase in price causes an increase in production.
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caga
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February 09, 2015, 08:19:13 AM |
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Well the value basically depends on the demand and adoption. If there isn't one, then prices do drop.
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Searing
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Clueless!
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February 09, 2015, 08:31:26 AM |
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Well the value basically depends on the demand and adoption. If there isn't one, then prices do drop.
and then a bit later difficulty goes down....and say with a price of 150 or 100 usd ..the big data farms have to shut down (like they did with cloud mining) due to costs....and yipiee skippie i can fire up my knc jupiter 565gh miner again and mine at an elec loss lots of bitcoin on it again on the 'hopeful' bounce back from the dead in price etc that bitcoin has done in the past (if knc miners went belly up for overextension due to this and then bitcoin came back slower/longer diff curve and more decentralized after the fact I could deal with that) but again that begs the question would btc come back at less then 100 usd coin in the adoption arena and infrastructure in the future for apps/use and adoption with that big a hit or would it die on the vine me ...I'm holding and hoping ...price goes up and slow growth beyond 220 usd from here on...but if not ..then difficulty will reflect such and I'll mine more coin (at the usual elec loss) and hope for another bitcoin bounce from the dead like it has done in the past..... like Vegas I've placed my bet...will ride it out...but something like sub par 100 usd btc would really hurt the large farms....like the current price has killed cloud mining ....with their temp shutdown so some sites say......the sub 100 usd price would likely shut down over extended data halls unless they too make the long bet and just mine like hell at a $$$$ loss elec wise vs btc price...but more then likely they would also just slow/shut down till price came back on a hope and a prayer so them's the plays i guess crash and burn or rise and climb never a dull moment with bitcoin! ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) my 2c worth (bitcoin/alts are mysterious to me!)
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