Topic: bitcoin technology has been obsolete, why bitcoin prices still expensive? (Read 683 times)

Blockchain? Outdated? What? Do you know that bitcoin's technology is the most updated technology in the world? When did you first saw or heard blockchain? Never right? Right now. The only thing you're only hearing is some bank payment or something. Now, we have blockchain in which you can pay someone online with the use of that network.

Nowadays many sectors are adopting blockchain technology and you are saying it obsolete actually blockchain technology is at booming stage it has long way to go ahead. It will be widely use in many sectors and bitcoin value decided by its demand and it is still hot choice in cryptocurrencies. My friend price will keep increasing if demand will be increase and other important factor about bitcoin is its supply is limited.

- I think you should have a more realistic look, bitcoin is really outdated when it is compared to other altcoin, although bitcoin has been improving over time but the development of technology is so rapid, bitcoin does not seem to be able to keep up. However, the problem that makes it stand still in the market is its reputation and its influence on the market, it is still a product that receives the most trust, so there is no reason for the price of bitcoin to become very cheap, that will go against the wishes of investors and users

I think it depends on the demand of world of cryptocurrency why the prices are still expensive, they maybe the technology of this are not active or responding quickly but i think this is not yet obsolete the presence of technology are still there cos its still finctioning..

Supply and demand are the direct answers of economists, but there is no value other than cognitive value - and that makes Bitcoin's price - its perceived value - much like a stock and Its profit and income expectations. Bitcoin is the first electronic currency so it is more popular than other coin. When people have beliefs and expectations on the potential and benefits that Bitcoin brings they will invest in Bitcoin more. The number of investors increased, but the amount of Bitcoin was limited, which made the price of Bitcoin high

There may be more coin with improved technology than Bitcoin, but it does not have what Bitcoin has. Bitcoin has been accepted by many countries, Bitcoin has been accepted in transactions in many places, Bitcoin has many Bitcoin ATMs in the world, ... and more Bitcoin has the trust and expectation of investors - the It is believed that Bitcoin will have a bright future. It was these things that made the Bitcoin price so high and many people bought it.

Bitcoin is becoming increasingly popular, making investors a viable alternative to gold. With a small market like Bitcoin, new capital inflows have caused a double effect. Not only is the value of the market increasing due to the amount of money poured in, Bitcoin also increases its value thanks to its trust in the platform. When rich people use Bitcoin as they use gold to store their assets, many people who do not believe in Bitcoin value have been persuaded to consider investing in the virtual currency. Bitcoin prices are rising and more and more people are investing in Bitcoin

old and outdated? bitcoin or your self that outdated?

I think you just know bitcoin, bitcoin has passed many events.

bitcoin will not return to 2009 prices, it is not possible.

many people who buy bitcoin because the public has already believed in bitcoin rather than fiat.

many factors affect the bitcoin volatility, one of which is the volume of sales and purchases.

There's always room for improvement, and that is what bitcoin allows for itself. Sure, it may be a bit slow in regards to transactions, but at least it's secure. When the lightening network gets introduced then it will be next level transaction speed, and probably better than the other technologies offered by ripple and ethereum.

It's impossible for something so new to become obsolete so quickly. Especially if people are still pouring money into it and there is talk of formalizing it as an investment through an ETF. Bitcoin is just getting started. It may not be at the same level as other coins, but it has more attention, more investment, and therefore more potential to get ahead of those other coins.

If you think a replacement coin can come along for Bitcoin then why can't that coin itself be replaced?
Some things will probably be replaced but other things will be long lived standards. I hope development of Bitcoin focuses on becoming a standard and less on features that can be replaced

Bitcoin is not outdated, the people saying this is probably invested in another coin and they want other people to invest in that, so they have to smack talk Bitcoin for those people to invest in all these other crappy coins. Some people also wants to brag that they are always better than other people, so they will say crap like this to boost their ego.

Bitcoin is constantly being "updated" and still years ahead of it's closest competition. Let those idiots invest in other Alt coins, they will soon learn that it was a massive mistake. 

Confidence in bitcoin makes it still of high value, a belief that keeps people from continuing to adopt bitcoin. Bitcoin has gained recognition as the best crypto coin and therefore bitcoin remains the most expensive value.

Even though there are new coins and platforms still bitcoin has the highest market cap and for any coin, the price is based on buy and sell orders so whales not gonna let crash bitcoin.

It's true that it's there because Bitcoin is still Anonymos its founder and if Bitcoin wants to improve his self then I definitely need a lot of development team to create all that.

Society to Bitcoin is not concerned with its system but they are concerned with its security and trust.

How is bitcoin technology outdated?

You have to understand that bitcoin only aims to be a decentralized and trustless currency, and anything else would be out of the scope of the bitcoin network. What other projects are trying to do with bolckchain right now is completely irrelevant, and doesn't mean that bitcoin is outdated or useless.

Bitcoin's value comes from the fact that it's intrinsically limited in supply, and this can't be manipulated, and its decentralization. It also comes from the fact that it's the first cryptocurrency, with probably the most practicality and adoption at the moment. It's not outdated, in fact, I think we're still in the early adopter phase of things. That's why bitcoin is valuable.

Regardless of whatever shortcomings anyone may be finding for bitcoin, it still remains the foremost and most adopted cryptocurrency and it will be difficult for any altcoin to overtake bitcoin even after improving on the identified shortcomings.

That's your claimed about Bitcoin? I supposed you have a bases on the above question, But needless to say, Bitcoin technology is the present and advanced  Blackchain system which is just at the infantile stage. The Bitcoin price is expensive because its the number one coin among all the ALT coin in the market, it has good fundamentals, with high level of confidence by the investors, market structures are clear and stable, this are just the few indicators that Bitcoin is Value for such a price in the market.

Are you talking about blockchain? how could you even call blockchain outdated. Blockchain used for crypto is just one of its advantages. Other companies are now trying to use blockchain for other purposes so i wouldn't call it outdated as it is just only starting+

I think that's because of the market trend that has made Bitcoin's value rise even though Bitcoin technology has become obsolete. The market trend is a double-edged sword. If it is good, the price of Bitcoin will increase. But if the trend is down, then Bitcoin price is likely to be $ 0

Bitcoins can never be outdated. It has seen variations in the pricing due to several factors like supply and demand in the market, trading exchanges, etc. Other competing cryptocurrencies also contributes as a factor. Crypto whales are also the ones who play a major role in it

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.

In spite of being a bit slow and also expensive bitcoin already have gained its full support & legit community which will take it a lot further. Almost all crypto currency use blockchain & they must know that bitcoin will be much beneficial to them.

In my opinion, the era of bitcoin has changed everything related to the funds area for the better, so it is a revolution, furthermore, it is very expected that the crytocurrencies in general will have a good future in the near future, maybe we will see one day, bitcoin' as a single coin in the whole world, especially if the majority of governments will recognize Bitcoin, and I think this will happen after a few weeks, because during this period there are many problems or attacks that's why the market in a total decline.

Precisely with the rare presence of bitcoin, it will further boost the price, because the bitcoin price will increase if the number of requests more than the amount of supply.

It’s a fake news that bitcoin price is outdated. Bitcoin has that much potential to hold their position in the market and for this reason the price is still the highest. I believe this price will increase more in the coming days.

Bitcoin is the 1st cryptocurrency invented and it still ranks the top among all other currencies. Yes, their technology is somewhat old when compared to the new cryptocurrencies in the market. But it is more stable and secure than any other currency in the market also.

In case of btc still it’s the highest position in the market because of its benefits and facilities also though it come 1st in the market they are taking first mover advantage in the market because a number of people invested money in here to make their money double or more profitable

In fact it is really right that bitcoin technology has become outdated and obsolete compared to other coins operating in the market called Ethereum, ripple etc. But here in the crypto currency trust id the most important factors. People have trust on bitcoin and hence it is still expensive. Bitcoin has high growth rate.

not just the technology alone makes the bitcoin price too high but also because of its popularity that attract investors and bitcoin is the first crypto in the world.

It is possible that bitcoin has created the world of pre-coding so it is still expensive

So inquisitive, that will not be limited to three presented versions, we will tell the fourth. Bitcoin is expensive because it is a virtual analog of gold. If you can print normal currencies as much as you want, then you can not issue digital cash. Its volume is limited, it is 21 million. And already in the next century "Bitcoin's Mine" will be exhausted. So, these coins will only rise in price and rise in price.

    To my point of view Bitcoin technology is not obsolete  Bitcoin was introduced on 2009 and now also it is in its infant stage  .People who are in this community has experienced positive and many have reached their goal in life and living a life of freedom without a third party involvement . By understanding more people are anxious to join this Bitcoin community, since there are limitations in Bitcoin and half percentage of the Bitcoins are already mined so it will be tough to mine Bitcoins that is why Bitcoin prices are  expensive now.

You're right, we can say that it's already outdated when we compare it to other cryptocurrency but if we will talk in general then no doubt that btc is the newest form of monetary system.

Bitcoin still remains expensive simply because it has the highest number of holders among others. And since this is the most trustworthy coin in the market (that's why he is 1st), the demand for it do not fade — meaning, investors still continue to buy making the price soar high.

the ancient is not the reason of high or low prices but the growing popularity, the large number of buyers and the limited amount that will make bitcoin prices remain expensive

Bitcoin is simple and people really like it. Though blockchain technology of bitcoin is too obsolete compared to the altcoins, people really likes the way it works. Bitcoin will not remove to the market nor its price will constantly floor down. Its reign continuously dominate because people wants to buy bitcoin not by its technology but by its purpose which is to transact in the simplest way.

Because it is grand father of Blockchain technology lmao. Anyway, it is old age but there are improvements once in a while like lightning network plus all other cryptos are paired with Bitcoin so that also makes some sense.

How can blockhain technology be obsolete when there is a growing demand for it? Banks are even beginning to see the advantages of blockchain technology. In fact, just a few days ago, Den Norske Bank), Norway’s largest financial services group, and the IOTA Foundation have signed a memorandum of understanding. DNB and IOTA will now reportedly cooperate to explore applications of the IOTA Tangle, a “third-generation” distributed ledger - the technology is designed to handle hundreds of thousands of microtransactions per second.
And also, bitcoin is affected by scarcity and demand thus, affecting its price.

Many are still suspicious of market movements, they believe that this is a consequence of market manipulation. But it is worth remembering that the real value of the crypto currency is not from the price in the market, but from its potential utility. As in 1994, no one could predict that such open source projects like Linux and Apache are so widespread, no one could give a real estimate of their useful value, and now no one can predict how the bitcoin will be implemented in future.

Digitally it is old and outdated because it is created years ago but the appearance of it in the world and the adaptization for the new advancements in technology is new and just the beginning of our future. Bitcoin is not only the cryptocurrency that is running on decentralized system on blockchain, so any coin could replace bitcoin just so happen that bitcoin do have a lot of investors and users given the fact that is the most flexible coin.

From my perspective i think people are trust bitcoin because bitcoin always maintain their performance. But it’s true their technology is not their updated. That’s why prices are expensive than other coins.

Bitcoin, as well as in other crypto currency, has a single technology blockchein. Just some bitcoin functions really fell into decay. Bitcoin became slow and with large commission fees. This problem is little by little, seems to be solved. True, until its final solution is still far away.
Bitcoin has a great price, because he has a great credit of trust in people, they think that bitcoin will cope with its problems, especially since there is a lot of talk about both the lightning network and other ways of eliminating its shortcomings.

Bitcoin value depend on demand so IMO, bitcoin's demand still high enough , $ 7400 !
Let's compare 4 years ago when bitcoin still $ 299

Bitcoin value increase exponentially because people like bitcoin technology especially for transaction purpose !

OP has made some contradictory statements in his original posts. Bitcoin is valuable today because people believe that the technology is not obsolete and that's what driving the demand for it resulting in the increase in the price of Bitcoin. In fact, most of the people have no idea about the potential of Bitcoin and hence it is still undervalued in my opinion. I agree that we don't have high utility value yet but things are still in the development phase and things will improve down the road.

What is the reason they say that bitcoin is archaic, it is clear that the bitcoin is the technology of the future, blockchain is a system that can not be duplicated by other system systems

Bitcoin doesn't just have a use case as a payment system but it works as a store of money also. And many people invest in Bitcoin as a store of value as it is the safest crypto in the whole crypto market. Also Bitcoin has a first movers advantage. While the technology might be old but new developments like lightning network will make it up for that.

lol at noobs here

okay which alts have improved updated functioning code that improves over btcs design??

this is clear improvements without possible reduction in security decentralisation and no need for trust

I await a clear answer

If you will say obselete it does not compromise with the market price for bitcoin. Yeah bitcoin maybe old but it is not an obselete coin because bitcoin is still the dominant crypto and all others are alternatiev coin. So no wonder why bitcoin market price is so high compared to alternative coin. If you want to know what compromise the bitcoin market price is that when most of the bitcoin holders will sell their bitcoin and for that bitcoin demand will get low and so does its market price.

indeed bitcoin is outdated but this bitcoin is the first virtual money made, and the other coins just go along with it, why bitcoin is still expensive because it is caused by the market demand so much and the enthusiasm of society is very big in investment, because bitcoin is eye money best.

it faith in bitcoin and price manipulation by some big group then bitcoin price seem too crazy in past.
I thought around 9-10k is nice price

This is my first time heard that bitcoin technology is outdated, cmon technology behind bitcoin the blockchain is a new and innovative technology where there are so many benefits that can solve our problems, 1 decade is a very short time for bitcoin to grow. The reason why the price is high it's due to the law of demand and supply, the more people buy it then the price will increase simple as that.

Well, I know bitcoin technology is older than the other crypto currencies. But, it is dealing with a lot of advancement day by day. The transaction fees are a bit higher which helps the miners to do their processe.

It's a piece of piss to claim your shiny new blockchain can do tenty trillion tps. Let's see how it copes with that when it's maxed out 24/7 for years and years. Let's see what happens when an attack is laid on it. Let's see what happens when actual users start to prod every corner and exploit of your code.

People who claim 'old and outdated' are fucking morons who don't understand that trust, decentralisation and functionality are what count first. If you don't have that to start with you may as well pack up and go home.

And let's have a look, shall we?

https://github.com/bitcoin/bitcoin

Don't look too dead to me.

Bitcoin's main advantage is its decentralization which was reached through early adoption. As far as its code is comprised in a way that limits the amount of btc which can be mined in a single timespan, bitcoin got distributed diversely. What is more, early adopters who now possess huge amounts of bitcoin are ideologically polarized so they wouldn't cooperate with governments or corporations which may want to suppress it.

Outdated, how? Because there are no bailouts or centralized currency issuers? What is being done with Ethereum or Ripple that is so cutting edge, and are these things useful in any practical way?

BTC is the reserve currency in this space. I hold some altcoins here and there, but BTC is where I hold my wealth. There are no altcoins I feel comfortable holding as a long-term store of value.

I've got nothing against altcoins specifically. I think they're great as a test bed for features that can be built into (or on top of) Bitcoin, or for experimenting generally. And they're good for a trade/speculative gamble.

as I understood you simply by saying that the btc technology is obselete you mean there are better coins than btc, but what defines the price of an asset is not the utility 100% but the demand

I think bitcoin is not ancient because it follows the development of the times and technology as proof of price is still expensive and there are still many investors who are still interested

It will always be expensive as investors still see how it can have more progress and attracts potential investors in the future when adoption of btc widely happened.

Because its technology is still good even if its old. Many big companies are too old than bitcoin and yet they are still on top and the reason why is that they continue to improved and people still love that company same thing with bitcoin. The price is still high because many investors are still coming and this is just a beginning of a greater future with bitcoin, expect a higher value in the future.

The BTC and blockchain technologies are the most innovative technologies currently available to humans!
Its price is expensive because of the limited number of BTCs, and many people use BTC!
Because people believe BTC will change the financial order in the future!

People who say that Bitcoin is outdated are just repeating the words of altcoin marketers who make those claims in order to promote their own coin. They are making promises of millions of transactions per second, claim to be "blockchain 3.0" and promise to change the whole world, and in contrast describe Bitcoin as slow, old and inefficient. But anyone who understands the technology behind cryptocurrency sees that those altcoins are nothing more than vaporware, at best they have barely stable testnet without any features that were claimed, but most projects don't even have that. They're also extremely centralized and some projects have just 20-30 nodes in their network - these systems just can't be viewed as cryptocurrency. Bitcoin on the other hand is doing extremely well, it has survived many attacks and continues to get upgrades and has very realistic goals. So, to answer your question, many investors trust in Bitcoin's technology over altcoins. This created a reputation of stable and reliable coin, something that can't be said about altcoins.

I think that makes the price of bitcoin expensive because there are enthusiasts, so many who buy and the price will rise, whereas if the buyer is quiet, then the price will go down. and enthusiasts who join bitcoin are getting more and more investors are investing in bitcoin investments, and the number of people who buy and sell bitcoin grows so that the popularity of bitcoin increases.

Nothing else defines the price of bitcoin as the demand for it, on the one hand it is a bubble that will eventually burst, but people understand that the bubble is growing and try to earn a lot more than invested. Maybe it will be a success.

Bitcoin is not mobile phone or computers that as its popularity sour, then it became cheap. Bitcoin is money , is invested and no money is old. An old money is still valuable today. The bitcoin value gives its price not what people think it should be.

Couldn't agree with you on this. The technology used by bitcoin is not a old one. Rather is a modern anf secured technology. The transaction cost are a bit high and will come down hopefully soon.

bitcoin technology.... blockchain technology are 2 separate things.
bitcoins version of blockchain technology has not changed in nearly a decade, and the smal changes that have happened in between have not ben for the sole benefit of bitcoin. but to benefit other networks.

take an electric engine(blockchain). it could be used in a car(bitcoin) or a human transporting hover drone(other coins)

the engine may have developed.. but the car is getting outdated. even though a car is the most promoted vehicle people see.
cars ar still stuck with 4 wheels that need to be moved across a road surface. so cars are outdated, even if people promote new shiny cars of glittery paint

more people move around with their feet. rather than cars. but the over promise under delivery is that there are more cars then other transportation methods.
(reality: cars in america 280mill.... american feet 650million (325pairs of feet))

once people stop caring about over speculating(for greed) by over promoting. just to see a new useless ATH which 99% of people wont even be logged into an exchange iintime to actually sell at the peak. . to instead look at the underlying value (around $6k+ currently). they will begin to see what they can do to inncrease the underlaying value.

EG ignore the $20k peak. instead think about
2016 btc never went below $300
2017 btc never went below $900
2018 btc never went below $6000

then think about what needs to be done realistically to keep and grow the support line. and what needs to change to prevent breaking the suport line

bitcoin is not the most used tech, its the most promoted tech.

take fiat
people think the dollar is the most used currency because people compare and measure oil and world economics to the dollar. but in reality only ~400million out of 7.5 billion people actually use dollar.

where as in india/asia BILLIONS of people use chinese or indian currency.

the bitcoin specific tech for mining (the sha256 hash algo) has not changed in 9 years. so there has not been any change to that.

asics. which came about in october 2013 are not bitcoin specific. they can be used on other coins too.. so you cant praise bitcoin devs for causing a price increase in october 2013. as the bitcoin devs had nothing to do with ASICs.
flipping the debate. with mning costs coming down, would you blame the bitcoin devs for this march onwards dip? nope, ud probably blame the asic manufacturers for making cheaper more efficient rigs. (hope you see my point)

..
i personally have a nice hoard of coins from as far back as 2012. so dont get me wrong i love the principles of bitcoins ethos 2009-2013. but since 2013 the innovation of bitcoin specifically has changed/dwindled/ been sidesteppd by other projects/networks.
i am not someone that does the over promoting under delivery proaganda bull crap of speculative grabbing people to cause a hype for some 10 minute ATH price drama. i am a realist. i find it better to call out faults/issues and be realistic about the situation and for people to know what truly lays underneath the tech, the price, the value.. so that these things can be dealt with

for instance. the price.. there are 2 aspects that give bitcoin nice supprt. the mining cost and buyers remorse. if bitcoin changed the mining algo to PoS or as other put it 'asic proof'. then there dies one line of support. leaving only buyers remorse .
and then the speculation of utility which causes the volatility bubbles ABOVE value(above support). which like waves can spike up, then correct itself down causing panic and drama.

so if PoS came to be part of bitcoin specifically. or 80% mining pools stopped mining because the cost increased but the utility of the network deminished because people were using LN/altcoins instead. then the support line for cost of creation would drop. because difficulty would drop and only 20% of miners could afford to carry on at a lower price

One things that gives a value to the product is the authentication of the item. There are more people who wants bitcoin because simply it is not totally absolate because year by years that goes by bitcoin price become more and more expensive because all things become expensive in the world. There is no cheap and free in this world.

The technology behind bitcoin or bitcoin technology is by far the most innovated technology that is booming. Many companies are trying to incorporate blockchain technology most especially in shipping and logistics. It provides a public ledger that allows everyone to see a record of transactions as it happens.

Bitcoin technology is still one of the most used technology in crypto currency. Then you are asking why bitcoin is still expensive than any types. The answer is of course, bitcoin developers and blockchain technology  still continue generating coins through mining. To have a huge amount of money, you need a sophisticated tecnology to process the algorithm of mining to create a coin. And the support line is still getting by bitcoin tech.

Because it is not entirely the technology giving it a price, there are lots of factors regarding pricing the most basic one it is the first and well known, trusted coin and that's enough to make it expensive since it is very hard to get them but it is easier to get better tech now.

ill help everyone out. by starting with the summery and then do the explanations and ansering some points pople made in posts that need addressing

tl;dr;
real underlying support value is the cost of obtaining the coin. bitcoin uses mining. which is costly..
if it costs $6000+ to make a coin and people in general/average buy a coin above $6k then the majority of community wont sell below the cost they obtained it for.
unlike PoS coins where costs are negligable. most PoS prices are not 'of value' but of speculation of utility (bubble pricing). thus there is no 'cost of creation' support line.and only 'buyers remorse' support line

now for the general chit chat stuff that needs addressing
the OP is talking about bitcoin... not the underlying blockchain. not LN which is a separate network that many different coins will be on..

but just bitcoin features.

even the core devs deam bitcoin as limited and out dated(because they wont scale bitcoin). which is why they are moving onto LN which is a separate network that many coins will use.
yes LN is not a bitcoin only feature. LN is a separate network for many blockchain coins to use, but is just presently being tested using in their words "the bitcoin experiment" (yep core devs think bitcoin is just a beta phase experiment and not a fully fledged end product).
segwit is not a bitcoin specific feature either. its a stepping stone into LN. again somthing multiple blockchain coins have/will have to divert people away from blockchain payments and into a LN network of offchain payments. so dont confuse bitcoin innovation with blockchain or offchain innovation.

core devs admit to this so dont rebut it

so now that covers most peoples over promise, under delivery they have been taught. and you can thank the core devs for strangling bitcoin specific/bitcoin only innovation/development and then moving on to other projects.

so now the question about bitcoins pricing
its based around the support line of what people will refuse to sell below.
this is because it costs X to mine bitcoin. which creates a support line. and also those separately buying a coin at a certain price wont sell below that price(unless they foolishly panic) and so they then also add more support to a support line.

the more it costs to mine  bitcoin the higher the support line will get.

ignore the winter speculative bubble area of the ATH. and instead imagine that the price corrected it self back down in ~march down around the $6k-$9k region, where the support lines lay

at the moment from march-may there was a dip. which dropped from a $9k suport to to $6k+ support because new mining asics are being tested and to be released for public use in june. so some pools have had the privelidge of buying them as  preorders and expanding their farms as a testing phase and thus their mining costs have reduced because the mining rigs are cheaper.

but there is still a good support line around the $6k+ region. and then. well unless the network hashrate doesnt increase to 60exahash by the time the next asics are on public batch release in june, we might see that support line change too.
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imagine this, peoples sell bitcoin for $1, and you buy it. Now you want to gain profit by selling it. You sell it for $2.
And other peoples buy it. The other peoples want to make profit too, now they sell it for $4. And it is repeating.
Bitcoin was like that since it was created until now. No wonder that bitcoin price is very expensive now.

when you make a statement like this you have to back it up with reasons. right now it is pure bullshit unless you provide proof.

you say it is obsolete and outdated. ok, tell us why. a technology is only obsolete if it becomes useless and replaced by a newer technology. so give us an example of a better technology that is doing things better than bitcoin so that we can prove how wrong you are.
your problem is that you saw some advertisement telling you some altcoin is "best" so you have fallen for it. but if you go use that altcoin and educate yourself a little bit you can see  why I call it "advertisement".

The price of bitcoin consists of many components, which include both the technical part and the economic one. And it seems to me that the economic and social has more influence on price and capitalization.

Many people are saying that?Can you mention a few people,who say that in their blogs,forum posts or social media posts?I`ve been very active on social media and on forums,but I`ve never seen anyone to make such statement.OP,next time you make such posts,you have to provide some links to prove your point.

only an idiot would call bitcoin  technology obsolete, i wanted to say newbie but a newbie never makes such dumb statements. it is like saying the newest iPhone the iPhone X or CPU core i9 for example is obsolete why is it too expensive

What do you mean by bitcoin technology ? Is it blockchain ? It is not outdated, you only see one of its advantage is to create cryptocurrency, people are trying take use of it for many purpose.

It is true that bitcoin technology is outdated and outdated, compared to other technologies such as ethereum or Ripple, but here bitcoin still has a high trust in society so people sometimes do not care about the technology used.

What do you mean by bitcoin technology is outdated. Block chain is actually just beginning. Block chain is used by almost all crypto currency and some companies are actually considering using block chain as well. They know how they could benefit on block chain technology.

If you are saying that Bitcoin it self is slow and expensive then you maybe correct but Bitcoin has already built it's community that has a solid support.

I want to ask, many people are talking about bitcoin technology, they say bitcoin technology is old and outdated, why bitcoin prices are still expensive, why do so many people also buy bitcoin, according to you, what determines the price of bitcoin