/biz/ - Business & Finance

>>18749214
0

it's a decentral currency, it has a lot of prices

The price of BTC is always going up when you sell and always dumping when you buy.

what you can sell it for
kind of like a ponzie

>>18749214
I guess the price is always changing, but what determines the market price?

>>18749248
nice strawman argument. how many groceries can you do with an Apple share?

>>18749283
why the fuck would i want to shop with my investments retard

>>18749252
How much anon is willing to pay for it

>>18749302
eh, you see your flawed logic now? why would I do that with bitcoin?

by its very nature, its deflationary and will implode in the far future. until then, ride it to the top baby.

>>18749214
1 bitcoin = 1bitcoin

Just like 1 ounce of gold = 1 ounce of gold.


The only price that matters is the bitcoin/gold ratio

>>18749214
i have to admit, the chart since sept 2017 that you posted looks schizophrenic as fuck. however, not nearly as schizophrenic as the oil chart. i'm storing my wealth in bitcoin anyway.

>>18749325
isn't bitcoin supposed to be a currency ?

>>18749214
Mining costs + whatever the miner takes as a profit and to cover the asic investment costs (eventually)
Mining cost of this cycle is around 3.4k
Post halveninng idk but miners won't let it go lower than mining costs

>>18749371
not in the traditional sense. I see it more as an asset. I hate to compare it with gold, but you can't deny they have similarities.
but there are shops online that allow bitcoin payments, and not just dark net markets.

>>18749399
>but miners won't let it go lower than mining costs
and how are they supposed to do that ?

>>18749231
This

>>18749229
it would have been zero if humans all worked together

>>18749421
As they have done it for 11 years already, by not selling at unprofitable price

>>18749303
>>18749346
I guess this raises and answers the bigger question of what is the actual price of anything
>>18749399
Checked, I hope you're right fren. I hope the $6-8k range is the new floor and that another 2017 type bullrun will bring us to even greater highs. It seems to me that if crypto went on a second bullrun the normies would not be able to write it off as a fluke like they do now

>>18749214
You don't even have to be a bear to see the obvious lower highs.

>>18749466
but are miners really the only supply of BTC. Is the crypto-community really so stupid that they are just holding on their BTC for ever without selling?

whatever people will pay for it. Very overvalued imo. Def not buyying at these prices or higher

>>18749420
there is no reason to use those shops tho. It´s a hassly to pay in btc, Ive done it plenty of times and never again

>>18749420
whitepaper literally says per to per electronic cash
the only mention of gold is a reference to gold miners

>>18749466
> by not selling at unprofitable price
but there is more volume in a 1 minute candle on binance than what miners will mine in one day after the halvening

>>18749506
Yes but Satoshi continuously shits on fiat currency in like every post.
>>18749475
I don't even understand how bears make their money and I've been here for years, I'm a retarded bull to the core

$10 like in 2012

>>18749471
Thing is, those who didn't make it in 2017 were looking for the next halvening to make it, ie now and 2021. All they do Is hoard btc because muh halvening
So the crypto space is now full of investors that are waiting for it to pump, but they already all bought in.
Also there's the 'Rona and a global recession as everyone is claiming right now, so even less disposable income to pour into crypto.
The supply halvening will affect the price, but not as fast as it did with previous halving, and gains not as big
I'd like to believe we go bullrun again but it's probably not going to be this year or the next, not because of the halvening and probably not because of btc
I would guess the next bullrun will be fueled or followed by a flippening, be it ETH or something else

>>18749551
>Yes but Satoshi continuously shits on fiat currency in like every post.
so ? he clearly intended Bitcoin to be a currency not a store of value or an investment, those are literally the opposite of a currency
bitcoin is clearly being used less today than it was back in 2011-2013 in therms of real purchase

>>18749567
priced in?

>>18749608
Basically

>>18749506
>whitepaper literally says per to per electronic cash
it does but then again the supply cap makes it not cash.

>>18749594
The point is store of value and currency shouldn't be mutually exclusive
>>18749567
This might be a stupid as fuck question, but do the pumps necessarily depend on a huge influx on new money? What about just a wider appreciation of its utility, since its price is apparently determined by what someone is willing to pay for it

>>18749594
>bitcoin is clearly being used less today than it was back in 2011-2013 in therms of real purchase
yeah because you can't really buy drugs with it anymore. it was the main use case when it was mainly used as currency.

>>18749447
Undervalued

>>18749695
lightning has the potential to change how bitcoin can be used to purchase things in a revolutionary manner. but for it to be adopted we would need a serious collapse in the financial sector in the developed world. which will not happen. so long the traditional digital cash system works bitcoin or any other crypto will never take over.

>>18749648
>The point is store of value and currency shouldn't be mutually exclusive
of course it should otherwise you end up in the current situation for gold silver and btc where the currency is just being hoard and not used as a currency
that's why the fiat system allowed for the insane economic growth of the 20th century, peoples invest their gain rather than hoarding them

>>18749642
the the thing that really puzzle me, the cap is clearly there to bring investor and promises price rise ... like a ponzi

>>18749695
I used to be able to buy game on steam too

>>18749724
>I used to be able to buy game on steam too
yeah but here is the thing for someone to accept bitcoin it's a fucking hassle. if they use a payment provider that's fine but it's a sell event and buy with cash not purchase with crpyto. and the provider takes a cut so it can't compete with cc. so it was mainly a mirage that you could purchase with bitcoin so long the expenses of a retailer are in cash you basically sell your bitcoin for cash one way or an other.

however micropayment possibilities (even charge by minute while remaining trustless and non custodial) that could be used in streaming and transportation and even cloud gaming are staggering for lightning.

>>18749724
A ponzi inherently has no cap, it's driven by unlimited and unsustainable growth. What you're saying is that the growth of the 20th century was driven by a ponzi scheme.

>>18749777
and one more thing, technically futures markets allow for a company to accept bitcoin and short hedge it instead of selling it to reduce his downside risk. but this will only make sense if the company can purchase or pay his employees in bitcoin. which is far far away.

>>18749244
this, btc is a quantum physics phenomon which prevents the observer from making it, abit like schrodingers cat

>>18749214
How does one hundred BILLION sound?

>>18749784
>A ponzi inherently has no cap,
a promise guaranteed return on investment that's what the supply cap does " btc are rare you should own some " then later peoples will pay you more because they are rare "

> What you're saying is that the growth of the 20th century was driven by a ponzi scheme.
the return the inflating nature of cash meant that peoples and company would rather use it than hoard it which keep the economy running fiat is the furthest thing from a ponzi since you are guaranteed losing if you just hold it

>>18749823
lol but what about retards like roger ver? he made it on bitcoin then became a bitter shitcoiner.

>>18749886
indeed

>>18749214
fiat is worthless because it can be printed into infinity.
so is more than half of cryptocurrencies.
and so is gold because space mining will be a thing.

that's it.

>>18749214
guys I need to know how much ARPA can I get with 1 BTC right now I need to know it is urgent