Topic: bitcoin technology has been obsolete, why bitcoin prices still expensive? - page 2. (Read 682 times)

Why can you say that Bitcoin technology is outdated? I do not see that Bitcoin technology is outdated. In fact, other technologies have faster transaction processing times than Bitcoin. But Bitcoin technology is more trusted than any other technology

Bitcoin is the first coin produced by blockchain technology. Although many other technologies have been created to replace Bitcoin, Bitcoin has always been supported and used by the international community.

Bitcoin technology is not obsolete. Bitcoin technology is slow compared to other technologies such as ETH and NEO. But I think there are better and better technologies than Bitcoin, but these technologies will probably not be as popular as Bitcoin.

I DONT Know if any new technology come after bitcoin. Bitcoin come in year 2009 and It came to know from 2012 with everyone. Who said its outdated.

Secondly , Bitcoin is king People believe Bitcoin will reach 1 lakh btc per Coin In some time. whenever bitcoin price up. It go down and come back with double power. Other coins value remains Low. as copare to bitcoin is good.

Simply because Bitcoin's profits are huge, with current volatility or 2017 up to $ 12,000 per penny. So many people want to own it. In addition, many people stockpile large amounts of Bitcoin as the price rises

Its about blockchain technology.  There are many currencies newer than US dollar but still USD has weight is because of its demand and its background and surrounding so as bitcoin.  Never forget bitcoin has massive community and supporter than any other coined.  For the time being bitcoin may be slow, but with lightning network integration and other updates it will be useful for mainstream use.  So, I don't think bitcoin is expensive at this time.  Considering its limited supply, it will surely increase in value.

Outdated? Really? It can't ever be outdated , the thing is bitcoins technology is a big breakthrough in science and everything thus it is going to be used for years to come now , what your are saying is it's dead in a way but it's the safest one out there with biggest applications.
It's the mother of all altcoins, and still holds it's position pretty well , it cannot be replied thus it will continue to stay the best one out there in the market and also people trust it more , since it's the first one in the market and still.. alive.

Outdated technology is not a factor in its value now, the real value of electronic money is not from the market price, but from its potential utility.

Because Bitcoin has the longest life span. It has existed for 9 years and many believe in its safety. In addition, big investors like Bitcoin because it gives them more profit than other coin

why expensive? its the old one, most popular cryptocurrency, because its name so expensive no matter what technology, like adam in human history

Bitcoin is still expensive because it is a system that works. Why fix something if it isn't broken? The growth of the community determines the price of Bitcoin, also the supply and demand, as well as the limited supply. So there are several determining factors that arise which help give shape to the price of Bitcoin.

gold has been obsolete, why gold prices still expensive?

I guess you are stating that bitcoin technology has been obsolete. there is no official claim from anyone or the founder of crypto that says it. and about the bitcoin that mimiliki a high price
that's the greatness of bitcoin that has lasted more than a decade to date. do not you understand

In addition to the first crypto bitcoin, bitcoin is a crypto that is very high value and popular today.
Although bitcoin technology is obsolete, it does not mean that bitcoin prices will be cheap, because to date people's confidence in bitcoin is high, more and more users and as a place of lucrative investment for many people, then it's natural that the price of bitcoin is expensive to date.

Many people wonder how the Bitcoin price is determined. First of all, know that the way Bitcoin price action works is like a currency or other object. Let's take an example of how the price of an object is determined - we can use oranges as a parable.
The answer: depends. The first point of determining the price of oranges is by two things: what price is desired by the person who sells it, and what price is wanted by the person who bought it.

Bitcoin and other currencies are slightly different from oranges because they are 'homogeneous' - one dollar identical to another dollar, like Bitcoin identical to other Bitcoin. Oranges, on the other hand, may differ depending on size and quality. In other words, it is easier to determine the price of Bitcoin or currency because of its identical properties.
Many people do not realize that other currencies also work exactly like Bitcoin - if you are holding a coin or banknote in your local currency in your hands right now, at the same time there are millions of people who sell and buy your local currency, so even if you feel the price of your currency is stable, actually the price is changing continuously. If you want to redeem your money into another local currency, say for USD, today you will probably pay with 10 pieces of your local currency, but on the next day it could be 11 or 9. Bitcoin works exactly like that - you can imagine it like any other kind of currency than what you have right now.

It is because most known crypto currency , and most trusted one. When they say outside cyrpto currency, people understand that it is bitcoin , not other coins. The world knows BTC not other ones generally that's why still expensive and will be much more expensive..

The price of bitcoin determines by the demand and supply so the price is still expensive because of its high demand,and I don't understand why you sating that technology is outdated,it is the new blockchain technology which is implemented only on the crypto field still yet to implemented in the different sectors too,so which means it is still new and future technology so the price will get more increase in the upcoming years.

The value of bitcoin is more about the sentimental value people attach to it ,not necessarily as a result of its functional prowess.Bitcoin cash can basically do all that bitcoin itself does but it sells at about a tenth of bitcoin price.I also argue that bitcoin 'deserve' that exclusive right since it is the first crypto-currency. Much same way Gold is in the world of precious metals(silver has more uses that Gold but the price is never at pal with Gold).

You should think that Bitcoin is something that is ancient, it is worth flying high and still in the team behind it again.
The block chain is used by almost all currency coding and some companies are really considering using block chaining as well. They know how they can benefit from block chain technology.

Nice question. In crypto industry, bitcoin is the pioneer. As a result, most of the transactions of alt coins are done by btc. Moreover, it has value which is continued over a time. And I believe that these are the reasons of high value for bitcoin.