Bitcoin does not exist in the real world. How does it have a monetary value?

Harper6

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Quote from: EmJay on March 25, 2018, 12:46:00 AM

Quote from: hsjd569 on March 21, 2018, 12:29:38 AM

Quote from: bnmh23 on March 21, 2018, 12:27:51 AM

Bitcoin as a virtual currency, how does it have a monetary value?

In fact, Bitcoin exists in the real world, just like the operating system of your cell phone or computer. It is actually software. Obviously, some kinds of software are valuable.

True, it is existing in the real world. It is the blockchain technology that is why maybe you said that it is not existing. You can only transact through net. For me it is very valuable because it is real and we are earning from it.

Well you are right to some extent that bitcoin is existing as real and it is gradually increasing. For now bitcoin is having very high potential and very high value that we can use it to earn money, bitcoin use to grow and it makes profit for us, actually it is virtual currency and it use for payment of online payment system, which makes people say it does not exist for the real life. With passage of time we see bitcoin being high and valuable so bitcoin is very important for us, it is more famous than fiat and paper money now.

EmJay

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Quote from: hsjd569 on March 21, 2018, 12:29:38 AM

Quote from: bnmh23 on March 21, 2018, 12:27:51 AM

Bitcoin as a virtual currency, how does it have a monetary value?

In fact, Bitcoin exists in the real world, just like the operating system of your cell phone or computer. It is actually software. Obviously, some kinds of software are valuable.

True, it is existing in the real world. It is the blockchain technology that is why maybe you said that it is not existing. You can only transact through net. For me it is very valuable because it is real and we are earning from it.

jigzaheedcoin

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Quote from: chickenado on March 23, 2018, 06:49:31 PM

Quote from: 9jaflick on March 23, 2018, 06:16:50 PM

Quote from: bnmh23 on March 21, 2018, 12:27:51 AM

Bitcoin as a virtual currency, how does it have a monetary value?

try and do a research about bitcoin and how it works before posting. Bitcoin is not just a virtual currency as you think there is more to it.
Please do a research it will help you a lot, google is there for you, at least for the now.

Aren't you aware of what's going on? Since from the start of bitcoin's existence, it is introduced that it is a decentralized money. It doesn't mean that it has no monetary value but it's pretty obvious that investors are the ones who invested therefore,bitcoin existed in real world.

I agree with you, at first I did not believe in bitcoin but thanks to my friends and also to all of you. I think you did a great job. I am now receiving a small btc and it is a good start thanks.

Faxmate

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Quote from: Destroyeroff98 on March 24, 2018, 02:28:10 AM

Bitcoin has a lot of demand in the virtual world, so Bitcoin costs a lot of money.

No currency has the high demand like bitcoin is the market so if you are using bitcoin you are the one who can make all your dreams come true. In every market bitcoin is the currency that is highly acceptable and people are making saving with their bitcoin investment. At this age everything is getting digital very fast so we will have to manage it and we should be prepared for the coming era when only bitcoin will be there no real or fiat money will be worth using.

MCVXYZ

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Quote from: guybrushthreepwood on March 24, 2018, 08:27:58 AM

It has value because people obviously value it. Just like money. Most money doesn't even actually exist other than digital numbers on screen and physical cash money itself is only valuable because of the faith people have in it. Bitcoin is no different. If people stopped believing in cash then it would have no value and the same goes for bitcoin, but as it stands people do value bitcoin as a medium of exchange, a payment system and an investment. I would personally compare bitcoin to digital gold more than anything and it's its scarcity and limited/fixed amount that gives it its true value.

This is true,It depends on how we value,how society value it.There is no economic behind this system,there is only people's need and will to use it as a payment system or to do another economical activities,That's true that bitcoin's price depends on demand,but its not an absolute determinant that there must be something physical.This man has already mentioned that people have trust and that's why today's price is so high, And how does it have a monetary value? the answer is very simple,its value determined by the people according to the law of supply and demand.

guybrushthreepwood

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It has value because people obviously value it. Just like money. Most money doesn't even actually exist other than digital numbers on screen and physical cash money itself is only valuable because of the faith people have in it. Bitcoin is no different. If people stopped believing in cash then it would have no value and the same goes for bitcoin, but as it stands people do value bitcoin as a medium of exchange, a payment system and an investment. I would personally compare bitcoin to digital gold more than anything and it's its scarcity and limited/fixed amount that gives it its true value.

kram31

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Quote from: bnmh23 on March 21, 2018, 12:27:51 AM

Bitcoin as a virtual currency, how does it have a monetary value?

FIAT doesn't exist before, it was just created before but it has a value because the government and bank declare it, it is manipulated by some people.

Bitcoin is a currency online, which has value. it is controlled by the people's demand.

what would you choose?

@ophiuchuss13

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as bitcoin may not exist, if the whole world is already involved in trading, talking, accumulating and earning bitcoins. if this currency can be paid for real things, then it is already real.a little time will pass and people will really feel the rhythm of what is happening. bitcoin will allow to unite the countries.

megynacuna

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Since there are going to be cryptocurrency and bitcoin exchanges around then it will never cease to have monitory value because it can be easily converted from it's software state to any fiat around the world. Even if there are no established exchanges around i still think people can barter trade them or exhchange them on a peer to peer basis.

rickyNmorty

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Although bitcoin isn't tangible, it doesn't mean that it doesn't exist in the real world. Bitcoin is software, like the videogames you play, the programs you download and the operaring system of your devices, it ust so happens that bitcoin is intended to be a software for money. And that is the reason why it has value. Aside of course of the fact that people pay for the services provided by bitcoin.

Destroyeroff98

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Bitcoin has a lot of demand in the virtual world, so Bitcoin costs a lot of money.

pugi2

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Quote from: hsjd569 on March 21, 2018, 12:29:38 AM

Quote from: bnmh23 on March 21, 2018, 12:27:51 AM

Bitcoin as a virtual currency, how does it have a monetary value?

In fact, Bitcoin exists in the real world, just like the operating system of your cell phone or computer. It is actually software. Obviously, some kinds of software are valuable.

Cell phone credit also not really exist in the real life, i mean we could not see the credit but it has value.
Similar with bitcoin which has no phisical form but it has huge demand in the market where people want to keep it so it makes the price goes high to the sky.

BelieveInBTC

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Bitcoin does not have any physical form. Your funds on the bank account are also only some numbers. If every person in your country wanted to withdraw their money, it wouldn't be possible because banks doesn't have that much money. Bitcoins are stored in the Blockchain. To access them you need your private key which you can for example print and keep it with you (I don't recommend it because someone could steel your BTC). Bitcoin has a value because it is much better than fiat and it is not dependent on any third party.

Amilhussin24

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It has a value, just like money. It is because of the agreement for giving value of certain thing or certain digits. Money does have a value it is because people and Government agreed that it has a value. Bitcoin is a Digital currency which is Cryptocurrency that work with the help of blockchain technology. Blockchain as we know, it is a ledger, which is all of the bitcoin transactions is being recorded and seen by everyone, bitcoin become very useful, and was created with a limited supply, thats why it has a high demand.

chickenado

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Quote from: 9jaflick on March 23, 2018, 06:16:50 PM

Quote from: bnmh23 on March 21, 2018, 12:27:51 AM

Bitcoin as a virtual currency, how does it have a monetary value?

try and do a research about bitcoin and how it works before posting. Bitcoin is not just a virtual currency as you think there is more to it.
Please do a research it will help you a lot, google is there for you, at least for the now.

Aren't you aware of what's going on? Since from the start of bitcoin's existence, it is introduced that it is a decentralized money. It doesn't mean that it has no monetary value but it's pretty obvious that investors are the ones who invested therefore,bitcoin existed in real world.

Baimovic

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Quote from: bnmh23 on March 21, 2018, 12:27:51 AM

Bitcoin as a virtual currency, how does it have a monetary value?

to achieve monetary value, I think bitcoin should be detached from all the factors that can make the value of bitcoin falls, such as high sales, bad news about bitcoin, and others.

but all of the above factors will not stop to affect the value of bitcoin.

and today's decline I think is caused by a journalist who makes the false news. and making the bitcoin unstable and falling.

9jaflick

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Quote from: bnmh23 on March 21, 2018, 12:27:51 AM

Bitcoin as a virtual currency, how does it have a monetary value?

try and do a research about bitcoin and how it works before posting. Bitcoin is not just a virtual currency as you think there is more to it.
Please do a research it will help you a lot, google is there for you, at least for the now.

fanbeila

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Bitcoin's value is driven by the community support.It is not a virtual currency and it is a digital currency.Its far better than a US dollar which is just printed infinitely and not based upon the amount of gold reserve the US government have.

Meysa_richa

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It's true of what you say that bitcoin does not exist in the real world but can have value or price, it's because of the trust of the members who make the sale and purchase transaction in bitcoin.

darkangel11

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Quote from: bnmh23 on March 21, 2018, 12:27:51 AM

Bitcoin as a virtual currency, how does it have a monetary value?

This is a common mistake. Bitcoin is not a virtual currency, but an electronic currency. It's real, not virtual!
If you turn on a computer game and kill someone, you do it in a virtual world, it has no impact on your life in the real one, but if you use the Internet to blackmail someone, pay the hitman, buy a house, all these things happen in the real life, they are not virtual.
Get it into your head that the Internet is real, it's like that electric current that goes through the cable and you can't see it, but you know it's there.

How does it have value? And how does a domain have a value? Some domains are worth millions of dollars.

Topic: Bitcoin does not exist in the real world. How does it have a monetary value? (Read 293 times)