Quote from: katrimans on October 30, 2016, 07:18:47 AM

Quote from: serjent05 on October 30, 2016, 06:41:43 AM

Quote from: Fatanut on October 29, 2016, 11:03:44 AM

Quote from: HoshiPost on October 26, 2016, 02:04:05 PM

The price of th ebitcoin is really bad and i dont think that is because of our things that ie because lots of people are holding the bitcoins and that is raelly bad you need to spent
bitcoins when you want the price to rise.

Spending bitcoin wouldn't necessarily increase the price of bitcoin. The price of bitcoin mainly increases because people are buying more bitcoins, not spending them. Spending bitcoins will just transfer your coins into another person's bitcoin wallet. That other person will probably just hold that bitcoin too because that's what most people do. Ultimately, the market will just move downwards once that other person decides to sell his coins.

I agree that the buy demand is the one that increase bitcoin price. But if you study a system, promotion helps alot for the popularity of the coin and to be able to get more people to jump in the bitcoin economy. One way of promoting bitcoin is by simply spending it as showing the usefulness of bitcoin in day to day life.

Yes, demand for bitcoin is coming from promotion by attracting new investors. But, it is not possible for all bitcoiners to keep on promoting bitcoin as a part time job. When we are having very good application or new business which are based on bitcoin payments, definitely that will itself act as a very good promotion to create more demands.

Look at Bitcoins Marketcap, it is tiny in the grand scheme of things. Bitcoin adoption is growing at a phenomenal rate and the price is rising because it. Once the EFT is launched, Bitcoin will break through $1000 imo.