I'm new to the Bitcoin / Cryptocurrency world, and the economics are pretty interesting.. My question is more of a large-scale economics question.
Would using Bitcoins, to purchase goods (not on this forum) or services, increase its perceived value due to wider exposure or level-out/decrease its perceived value by establishing an accepted value of it?
I hope that was clear enough. Just looking for ideas and thoughts.
Definitely increase its value. As adoption increases, the network effect starts kicking in.
One of the reasons for the explosion in price today is that more and more people know about Bitcoin.
That is true. Currently, bitcoin's and digital currency's increasing price trend is the effect of more people using. Like any good and services if it does become so widespread and people what to get aboard on it as quick as they can then we can expect prices to skyrocket. More people using means higher value of circulating token not only limited to bitcoin but all digital currency.