Quote from: bones261 on September 27, 2018, 08:04:31 PM

Quote from: halfmil on September 27, 2018, 07:49:42 PM

Quote from: bones261 on September 27, 2018, 07:17:03 PM

Quote from: kissme09 on September 27, 2018, 07:03:19 PM

Bitcoin always has a value the 0. The current value is the result of the development that Bitcoin has experienced over time. Bitcoin continues to grow and is accepted by many traders and investors as the real value of Bitcoin, and everyone agrees with that value.

Apparently there is not much "agreement" since the BTC market is highly volatile. However, the fixed supply is "supposed" to mitigate this. Only time will tell if this actually continues to work. I'm still a skeptic. That's why I currently own less than 1 BTC and a few shitcoins.

I think that BTC is currently like a small raft floating in the ocean, as the ship grows larger the waves will have less effect on it. I can imagine if BTC ever grew to 200k or 300k and jumped up and down by 5k every day it would be a lot less volatile. But you are correct only time will tell.

No, the only way BTC will get less volatile is if it actually starts having a real economy develop using it. Right now, only a few get paid in BTC for their work and can purchase all of their wants and needs with BTC. Even many people who manage to cover most of their expenses with BTC alone, actually rely on some method which converts the BTC to fiat. I am not convinced that BTC can really sustain an actual economy. Since it is limited in supply, this encourages hoarding. If too many people HODL, that is not much money flowing and makes for a poor economy. BCH and Lightning network claim to solves this by making the scaling better. However, if you just build bigger pipes, but you only have a trickle worth of water; you are still going to get only a trickle.

This is true, and I think BTC probably can only achieve a high dollar value if everyone starts using it. The more people that find use for it the higher the dollar value will be.

I think some things might change moving forward in the future for this to happen. If people realize that they do not have to pay income taxes if they get paid in BTC this might be a strong incentive for more people to want to get paid in BTC. The easier it becomes to pay for things with BTC the more people might use it. The most convent way I have seen people actually use BTC to pay for things is by loading BTC onto a prepaid credit card and use it just like any other card to fill their gas tanks or buy groceries ect.. as you say turn it back into fiat but I think online shopping is where it will really thrive in the future. I think there will be a future where we may not solely rely on cryptocurrency but there maybe a balance between crypto and fiat. I think this will be a gradual change in the future as more people use it the volatility will gradually change also.