Bitcoin value - page 47. | Bitcointalksearch.org

peter0425

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Quote from: the maker on April 01, 2018, 12:25:02 AM

I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:

" like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.

Of course, that the main reason why bitcoin has value, and not just crypto but other things are well. If a commodity is being sold at x price and you tend to agree that its worth that price so obviously you agree that is the price of it as of the moment. But later, when everyone perceived that its too much, no demand, then the price will go down.

And that is basically what we are witnessing today, the price is down because there is no demand so this is what we all agreed for. But when there is huge demand just like we saw last December, then it will be really expensive or the price is too high because the demand is high as well.

Kotone

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Quote from: the maker on April 01, 2018, 12:25:02 AM

I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:

" like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.

Well, technically yes, if you think about it even the paper currency has value because the world deemed that it should have value. And it goes the same for the cryptocurrency market, there are a lot of factors swirling around how itts prices are determined but it has reached this peak because the people who deemed that it has a value believed that it could have a use in the future. They placed a value of it because it has been used to buy things, transfer things and to even invest in some places

Jaslinbor28

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It is the utility of bitcoin that gives people a reason to give bitcoin a value. it is the fact that bitcoin is a decentralized and censorship resistance currency that makes them want to buy more of it (creates demand) and that demand increases its price.

MilfordGannon

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Bitcoin has created its value itself. People accept it very positively. Now they can invest in bitcoin and make some profit. Though I am not saying this one as a money maker. However, its many other usages make its identity to people.

Vinodam

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The Beauty of bitcoin is it's appreciable value. Any asset or business that has an exponentially growth value is a gold mine. Bitcoin is very valuable. As will stand now you can tell the next peak of bitcoin which will for sure change lives

Ctn

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Quote from: the maker on April 01, 2018, 12:25:02 AM

I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:

" like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.

Well he is not wrong either and saying that in the philosophical way! I mean look at his statement it does look like a philosophy to me. And somehow I also belive that it affect the whole process of valuation in the crypto currencies. Apart from this the real valuation process starts with our real pockets from where we send our fiat to the decentralised exchangers and then digital blocks equivalent in price are allowed to us. These are nothing but our bits/satoshi's and bitcoins itself. Though they are in digital form, have no physical existence then also they are getting the value for it because we are adding money into it and the value of money is surpassed to the coins. Thats the influx and otfrux of values.

ipanks

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Quote from: the maker on April 01, 2018, 12:25:02 AM

I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:

" like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.

human created something and use that things (bitcoin), more and more people know about bitcoin and they also use bitcoin too. from this, people determine the value for bitcoin and then they make a transaction in bitcoin. I think this is the fundamental reason for the people so far and the price is up and down because people buy and sell bitcoin and it means they make a transaction for bitcoin. maybe I am wrong but I only know that reason.

Hellobx

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The Experience Layer of the Decentralized Internet

I don't agree with this view, because when the thunder network solved the problem of the bitcoin at present, so the bitcoin will be transfer from one country to another use bitcoin, so the true value of the bitcoin.

mi56374100

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The price of bitcoin has long been fluctuating around its value. The fundamental source of bitcoin prices is the value of bitcoin, and its value comes from its use.

Bitcoin, as an Internet currency, can send and receive bitcoins as cheaply as E-mail. Bitcoin, as the currency of the Internet, does not have the concept of import and export. You can transfer money and make payment at will. That's the value of bitcoin.

Wind_FURY

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Quote from: the maker on April 01, 2018, 12:25:02 AM

I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:

" like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.

It is not that simple but like everything in the world, all bought and sold in the market are given value by the law of supply and demand. It is the market that decides if something has value and how much.

A good example is gold. The value it has today is because of the price the people are willing to buy it for. But trap those same people in a desert and sell them water or gold, then I believe water would be more in demand, making it more "valuable".

soikot0012

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Bitcoin is ahead in terms of money in the current market. At present, how much is the price of Bitcoin, it is understood to be of interest to people, and for the people of danger, the price of Bitcoin is more.

ningrum

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The OGz Club

Quote from: werpak321 on April 01, 2018, 12:41:40 AM

Quote from: the maker on April 01, 2018, 12:25:02 AM

I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:

" like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.

Bitcoin value is not permanent it goes up and down not just like a paper money it's value it stable

that bitcoin price will not be permanent, will surely go up and it also can not we know dwngan true, there must be mlesetnya.

Suharti12

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It's true that bitcoin is worth it because there is a deal of bitcoin users, and now the value of bitcoin prices is declining and this is a great time to make a purchase and invest.

AndreyBitTalk

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Yes, he told the truth,the price of bitcoin depends entirely on people, if people use it and pay for it,then it has value, if suddenly it ceases to be popular,it will not cost anything

daddypastes

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the value of thing depends on how the value for everything because people agree so,the same is true for fiat...in reality fiat is only a piece of paper and we all agree it has value,the only difference between fiat and btc is who backs what. What scares people the most is that btc has no issuing authority...they feel unprotected using it but so far btc has proven itself to be formidable....

paulo29

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Yes it true,the value of a thing depends on how the people value it. Truly most of all transactions or the value of commodity depends on the principles of market and demand, the more and more people demand on every commodity and there is no enough supply to sustain that demand then the value of such commodity increases. Since bitcoin is very popular and more and more people wanted to be part of this trading,it makes the bitcoin very dependable and yet very volatile so its value and price is undetermined and cannot be predicted.

Derek86

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if it really take over place of fiat, it will be price of diamond. if it fails to replace fiat, some other cryptocurrency might will be the one to be used around the whole world

Wowcoin

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Quote from: the maker on April 01, 2018, 12:25:02 AM

I've just watched the John Oliver show about cryptocurrencies and something struck me about what he said:

" like most currencies, the fundamental reason that bitcoin has value is that people agree that it has value"

I just want to know your thoughts on this. I only have a little understanding about the idea of currency and its value although i've already been at it all my life. Im new into this kind currency and right now its plumetting.

Bitcoin have different value all the time and not only bitcoin different coins have value. Bitcoin price are down and up every second so the value of bitcoin is not permanent its gonna be up and down.

Seetheummerallyeah

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That statement applies to anything.

USD wouldn't have value if people didn't believe it has value. Silver wouldn't have value if people didn't think of it as valuable. Before the first currency system (Mesopotamian Shekel) was introduced, the only way people could gauge value was by their needs. If I needed food for my family and you needed an axe, we would both find each other's items valuable and would preform a trade.

The value of cryptocurrency is primarily based on speculation, which is why it is common to see drastic price changes. Unlike fiat which is usually backed by something (such as gold), Bitcoin is valued at what people believe it is worth. With new news coming out, their personal valuation changes as well.

cryptoplus94

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There are predictions that 2019 bitcoin will probably increase to $ 50,000, maybe?

Topic: Bitcoin value - page 47. (Read 3451 times)