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> but it could also exist and do it's job at $1.00 / btc. Probably one of the stupidest comments I've read on here. You display not even a basic understanding

> but it could also exist and do it's job at $1.00 / btc. Probably one of the stupidest comments I've read on here. You display not even a basic understanding of how Bitcoin or economics work. If I have a successful company with 100 shares. People will want those shares which will drive the price up. To fix the price at $1.00, or to dilute shares to keep the price at $1.00 is just ridiculous.

defertoreptar 9y ago
Who's saying anything about "fixing" a price or diluting shares? Bitcoin's exchange rate is a function of supply in demand. It could exist and do its job with low demand (e.g. $1.00 / btc) or high demand (today's price). What is the reason for the high demand? The answer is speculation that the price will continue to rise. The point I was making is that if people were using it only as a only as a currency, then the price very well could be $1.00 / btc. The reason it's so high is because people in large numbers are buying and holding it as an investment, reducing the supply.