Quote from: Koadharber on February 07, 2018, 07:59:18 PM

Quote from: gamerfan on February 07, 2018, 04:47:24 PM

I really like your mindset. For me 1 BTC is just 1 BTC. No need to consider its $ price.
But keep in mind many people are here just for speculative purposes and don't care about blockchain technology, Bitcoin and so on. They think to cryptocoins just as a good way to make some dollars buying it and then sell it at a higher price. That's why people look so concerned about USD price.

I am with you regarding with this since most people now are not really thinking up too much on the technology behind on bitcoin but rather they do always think up on how to make dollars out of it which means interest for having an independent value isnt really there because people do always love to have fiat money and we do know this has been the motive of each everyone of us. Talking back if bitcoin would tend to have 1 btc=1btc value then where does its value came from?

Ok then, if we have 1USD = 1USD, then where does its value come from? the paper it self isn't worth it, normal people would say its because USD is universal and could be accepted anywhere by anyone at anytime, but tracing the roots (in a simple form since I don't remember details at the moment), 1USD gets its value because its a number that represents a fraction of gold the government has stored, instead of everyone carrying gold and trading it around, everyone puts the gold with a trusted 3rd party (government) that issues bank notes that are easier to use around. But lets take a deeper look, why gold? because its what people decided (by practice, not laws) would be a common valuable item that anyone would accept as a payment method at anytime.
So in theory, if people started to shift toward BTC (or other crypto) as a generally accepted payment that anyone would accept at anytime, it should be possible to build economy where things have base value of BTC, and a currency would derive its value in compare to BTC, governments would store BTC and issue bank notes that gets its value from it (talking in theory here governments, don't do it). So instead of waking up in the morning and saying BTC has reached 7k USD, you'd say USD has reached 1k satoshies.