Post
Topic
Board Speculation
Re: 1 Bitcoin Worth Is 1000000$
by
Qartada
on 10/04/2017, 07:55:33 UTC
We always ask why Bitcoin price goes down or up?
But most important thing that we don't understand is that we control Bitcoin price.
You're right, the Bitcoin price is decided by the market.  So therefore we analyse the market and what other people are going to do because not everyone acts unanimously and buys Bitcoin at stupidly high prices because we tell them to.  The market acts primarily in its own interest.

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You control Bitcoin price!
No Banks, No goverments...
In the spirit of the free market, this isn't true.  If banks or governments wanted to, they could easily control the Bitcoin price.  All they'd have to do is buy loads and dump it at super low prices - they have more than enough money to do it.  It's only about how much money you have and in reality it's not a community decision - if you build a collection of 20 people who own 0.2 Bitcoin and don't understand any basic economics, they won't have any significant impact on the market at all if you tell them to buy or sell.
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If we all would decide to not sell Bitcoin in exchanges for less than a million Bitcoin would worth 1 million.
My message is that if you want Bitcoin price to become one million don't sell it cheap at exchanges it worths much more...
Hang on, didn't you just say that we control the Bitcoin price?  So doesn't that mean that it's "worth" exactly as much as it's worth right now, since we control it?