Bitcoin value - page 48. | Bitcointalksearch.org

ambisyon

jr. member

Activity: 322

Merit: 1

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.

Yes, I believe the people in the cryptocurrency community were actually the ones put value on bitcoin. However, due to it's volatility, bitcoin is susceptible to fluctuations either be going up trend or down trend. In my opinion, due to high demand and limited circulating supply of bitcoin makes it more valuable. Hope this comment will be acceptable to the author of this thread.

Pursuer

legendary

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Where is my ring of blades...

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

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

it is true but also misleading because it is incomplete.
people don't just randomly decide bitcoin has value. it has some fundamental reasons. otherwise a lot of other things like grain of salt would have also been worth $20000 for example!
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.

Kakmakr

legendary

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Leading Crypto Sports Betting & Casino Platform

Any currency or commodity has perceived value, because people gives it value. Why do people want to use a little piece of paper to buy a cup of imported coffee from a coffee shop? Why does the coffee shop vendor want that piece of paper? The simple reason is that people believe that the piece of paper are backed by the government and the government guarantee it's value.

In Bitcoin people can use the token to transfer value globally, because the token has a perceived value that are determined by supply and demand on a open market. ^smile^

Notcalculator

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★Bitvest.io★ Play Plinko or Invest!

Ultimately, everything has value 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.

werpak321

newbie

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

RheaLity

newbie

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The value of bitcoin are very volatile it may decrease and increase it's because of the users of bitcoin the supply and demand can affect the bitcoin price.

boboking

member

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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.

Yes basically that is true not only in bitcoin but on all things un the world. I will give you an example why does some old baseball cards are worthless and some cost a fortune well because more people like that card.

Yes you maybe new and correct we are on a bear market but if you have not bought anything yet this is the perfect tume to invest.

lodi123

newbie

Activity: 126

Merit: 0

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 it changes everytime it is not permanent nit like a paper money it's value is permanent and stable

the maker

newbie

Activity: 1

Merit: 0

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.

Topic: Bitcoin value - page 48. (Read 3451 times)