Just how important is the price of bitcoin?
The question could be considered subjective, and that’s why it was the topic of last week’s poll (which you can find in the lower right-hand corner of all pages).
So, getting right to it, it would appear that the price of bitcoin is a big deal compared to really not mattering. Of 134 total votes, about 64 percent of voters said the price of bitcoin “is a huge deal”. That equates to 86 votes.
(Hopefully we’ll get a higher volume of responses on the next one.)
The other 36 percent of voters said the price of bitcoin “doesn’t really matter”, which is interesting because I purposely chose last week for this poll for one simply reason that the price of bitcoin was going down.
Related reading: Week Begins With Continued Bitcoin Price Fall
In fact, the price dipped to a low of $442, and if you follow the bitcoin conversation on social media at all, you would have noticed that there was no shortage of folks feeling a bit blue about the price drop.
My bet is that if I had posted the poll during a time in which the price was skyrocketing, we would have seen a few more votes on the “huge deal” side.
Now, let’s get to this week’s poll.
[poll id=”23″]
targetpro 
Erik 
In the long term it would be nice if the price increased. It demonstrates that people value the network. But what really matters to bitcoin’s success is just whether people find it useful in their lives. There wasn’t a way to just send a friend $5 or divide up the cost of a group meal at a restaurant before, that didn’t have to go through some bank or Paypal-like entity.
I missed that poll, but as far as I can see the question is a bit misleading.
Does it matter how high it goes ? yes to some degree, the miner need to earn enough to make it worth there time to secure the network or else it will become open to “cheap” attacks. Also the market need to be deep enough to be liquid enough to handle transaction and the market should remain stable even if trades worth millions of dollars are done.
But does it matter once price stability, usability and security are met. The price no longer needs to rise? Not really, bitcoin is not supposed to be an investment but used as a Utility. “Money should be a Oil is in a machine, it needs to make the machine run as smoothly as possible, this means the oil is not the goal but merely a tool or utility for the machine, only if the oil does not perform its role should it be change by a better “brand” of oil.
If the price does go higher that the market needs it to be, it will in fact create boom bust cycles, that does not serve the machine at all.
So my answer would be yes but only to a certain point. What point ? I think that will be a the minimum of 10.000 dollars (at current inflated rate of the USA dollar).
If the market is free, and protected against marketing manipulators this also includes that big holders of bitcoin will at some point need to sell of some of there holdings as it stands 50% of bitcoins is held by less than 1000 people which could mean that greed will destroy it from within. But if bitcoin can grow beyond does growing pains, it will find the right price sooner or later.