Bitcoin value starts with people's attention? or with its technology? - page 3.

Kahan848

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Quote from: aosis on January 22, 2020, 12:22:02 AM

Is Bitcoin really a such innovative thing that can change people's lives significantly in the future?

I think we still live fine without having Bitcoin being actively used in our real lives.

Oh well... In terms of transparency, i can take on Bitcoin's technology.

But which one is it that raised its value so much though?

Technology or People's attention?

Of course it starts with technology but it's got no use without people. These are too abstract and vague questions to ask tbh

sovie

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Quote from: aosis on January 22, 2020, 12:22:02 AM

Is Bitcoin really a such innovative thing that can change people's lives significantly in the future?

I think we still live fine without having Bitcoin being actively used in our real lives.

Oh well... In terms of transparency, i can take on Bitcoin's technology.

But which one is it that raised its value so much though?

Technology or People's attention?

anything thats innovative, new and can help community in over coming existent problems will always catch people attention and that's the same case with bitcoin also. its backed by technology and is making peer to peer transfer of value a reality.

Darker45

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Quote from: RapTarX on January 22, 2020, 09:01:55 AM

The very first mass use of bitcoin was probably on Silk Road, a drug dealing marketplace. People used BTC there because of its technology; pseudonymous nature of bitcoin. It has created a lot of attention which later have turned the price higher and higher; got more attention.
Now BTC is popular for both. We have a lot of places to spend BTC. It's technology is developing consistently.

Please know that Silk Road =/= drug marketplace. I don't know, but I tend to feel that it is a bit unfair equating Silk Road with illegal drugs. Silk Road = free marketplace. And the free here is the free in its true sense. It is not the free that we know in our society nowadays where restrictions are found everywhere. The tendency with a free market is that there are goods and services sold and bought that are considered illegal outside. And that's probably the reason why it was operating as a black market in the deep web using TOR.

That market was perhaps the earliest and biggest market where Bitcoin is the primary currency. And Bitcoin thrived there due to its technological design. So, I guess it is technology that really comes first before people are attracted to it. But of course Bitcoin's technological features were already discovered and known even before Silk Road came into being.

Aying

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People's attention is a big help for bitcoin price. how? because of peoples curiosity they seeking the information and search bitcoin. with bitcoin there are few people life change, they can earn money without going out in the house, they can spend more time in the family. with technology of bitcoin they can earn extra income to support they needs. with this new technology, every persons hard life has helped it somehow.

tsaroz

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It's surely the attention and hype. Bitcoin would not be as much priced if it were just for it's use. With it's limited supply it's a good asset to store.
Most of the people actually came to know about it as a good investment option rather than a good technology.

rodskee

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Quote from: aosis on January 22, 2020, 12:22:02 AM

I think we still live fine without having Bitcoin being actively used in our real lives.

but our lives will be more functional and related if we are using Bitcoin right?because this is the Money of tomorrow mate and we must be ready now as we are nearing the pure computer technology.

Quote from: aosis on January 22, 2020, 12:22:02 AM

Oh well... In terms of transparency, i can take on Bitcoin's technology.

but this is where we are now,technological world mate so better be On bitcoin now.

Quote from: aosis on January 22, 2020, 12:22:02 AM

But which one is it that raised its value so much though?

Technology or People's attention?

Both mate it is Peoples attention and also the technology behind this currency ,because without technology people wont use Bitcoin and same as without bitcoin there are no peoples attention.

Danne87

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Quote from: aosis on January 22, 2020, 12:22:02 AM

Is Bitcoin really a such innovative thing that can change people's lives significantly in the future?

I think we still live fine without having Bitcoin being actively used in our real lives.

Oh well... In terms of transparency, i can take on Bitcoin's technology.

But which one is it that raised its value so much though?

Technology or People's attention?

Is the myth of transparency relevant? Unlike the fiat, here you can easily track the complete history of coin movements and what happened to them, everything is transparent

They have advantages. For example, taxes from the government. Tool for against corruption and successful implementation for business

Technology or People's attention? Both. But mainly people and the economic situation in the world

Jet Cash

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Bitcoin's value lies in the large number of copies of its decentralised ledgers. Because of this, it is the only crypto that is not vulnerable to a 51% attack. It is a real store of value that is independent of other asset classes, and it is the only crypto that offers this with real security from outside intervention.

julius caesar

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Its price increases because of the innovation that is happening and also the peoples attention. We all know that some people wants to have a faster transaction and bitcoin is being able to provide it to its consumer. Plus the fact that you can earn by just simple doing some trading. When the consumer supports it, there is a higher chance that it will have a huge impact to the current price of bitcoin.

RapTarX

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The very first mass use of bitcoin was probably on Silk Road, a drug dealing marketplace. People used BTC there because of its technology; pseudonymous nature of bitcoin. It has created a lot of attention which later have turned the price higher and higher; got more attention.
Now BTC is popular for both. We have a lot of places to spend BTC. It's technology is developing consistently.

Ratash

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Its a little bit of both first people must know about bitcoin and have an interest in it so bitcoin will be known world wide and that will attract developers to use bitcoin and its technology on daily basis.

bitcoindusts

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Value starts with the technology and ends with peoples attention. I think the two should be considered when we are talking about value. Technology for its usefulness in peoples' life. But it does not ends there, the realization of the value of a technology if people took notice of it and get interested with it. Same goes with other items such as gold. If people are not interested in acquiring gold, would it have its current value?

achach

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The value of bitcoin begins with an investment. And people are primarily interested in earning money.

Fatunad

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Quote from: Darooghe on January 22, 2020, 05:19:35 AM

I think the people's attention that came from fast growing of bitcoin price (especially the 2017 bull run), is the most important reason for bitcoin value today. Blockchain is a great tech but Bitcoin is not ready for mass adoption. I would argue that Bitcoin will need to scale faster to accommodate a large increase in users. The fees and confirmation times aren't too horrendous right now but it could get much worse again in future. Segwit needs to have higher adoption and lightning network needs to be implemented widely.

Lightning network really needs to be widely implemented in order to improve the speed of transactions because it will be a big turn off for the investors if the technology is slowly progressing in the field of transaction speed and fees. Segwit are slowly becoming popular for the new investors these days and that actually is a good start.

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Quote from: aosis on January 22, 2020, 12:22:02 AM

Is Bitcoin really a such innovative thing that can change people's lives significantly in the future?

I think we still live fine without having Bitcoin being actively used in our real lives.

Oh well... In terms of transparency, i can take on Bitcoin's technology.

But which one is it that raised its value so much though?

Technology or People's attention?

I think both have to play their important roles on bitcoin in order for it to be successful. With technology like this that is fully backed by majority of the population in the world, maybe a new beginning is possible. All technological advancement is much needed and should be run by the people unless their is really an A.I that could fully think on it's own and that way we are no longer needed.

Reid

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You are not seeing it now because it became a store of value.
Anything that is limited will have that kind of event. Gold, oil or painting and rare items.
Because of that, people will appreciate its value as it takes longer in the market specially when it is mint.

Now, people don't value art that much by now. They want something with a connection with technology.
Bitcoin is being offered. You will just need to see through the future.

White Christmas

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Quote from: Asmonist on January 22, 2020, 07:33:25 AM

I think its both the people and the technology. Basically these two factors are essential for bitcoin value. People are the participants and creators that will do the action and market activities. The technology on the other hand is very important to have the platform to work on to. When people create and utilizes bitcoin we need technology to do it. When technology fails the price is also affected. When people don't participate who will utilize it?

Actually it really starts with the people's attention because without the people's attention there will be no technology that will involve bitcoin as well. Although this two are performing a big participation to the bitcoin it really matters on what is the best thing to do. The person's attention are the one they are making to enter and to be entertained in the bitcoin because their attention will brought them extra knowledge on it.
People are the one who are making the bitcoin to be utilized in different matter so that this are the very important thing we need to be focus on.

Asmonist

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I think its both the people and the technology. Basically these two factors are essential for bitcoin value. People are the participants and creators that will do the action and market activities. The technology on the other hand is very important to have the platform to work on to. When people create and utilizes bitcoin we need technology to do it. When technology fails the price is also affected. When people don't participate who will utilize it?

qiwoman2

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Bitcoin is actually far more complex than other stores of value, or technology because it is both. You may argue that Gold also has that feature, of being both useful and also used as a currency. Bitcoin has something more than any technology I have seen so far. It is going to be used in all our future infrastructure layers, seen and unseen, noticed by the public at large, and also will go unnoticed, but will be used in the background. The Blockchain technology itself to be utilized is so diverse in nature, that for me that is where the real intrinsic value lies. On the other hand, the more people have access to Bitcoin as a currency, the more attractive it will become as a store of value also. As more and more people like the decentralized aspect behind it and have the feeling of being more in control of their money (especially when it has a limited supply tag on it) they will be ultimately attracted to Bitcoin for holding purposes and for using it in their daily transactions.

chaoscoinz

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Quote from: aosis on January 22, 2020, 12:22:02 AM

Is Bitcoin really a such innovative thing that can change people's lives significantly in the future?

I think we still live fine without having Bitcoin being actively used in our real lives.

Oh well... In terms of transparency, i can take on Bitcoin's technology.

But which one is it that raised its value so much though?

Technology or People's attention?

Bitcoin is only 10 years old, it has many years to still grow. Bitcoin and the block-chain have come very far and to think, it all came from one mans dream to help change the world through a digitally improved version of your standard financial ledger. I think Bitcoin was only a simple proof of concept introducing and demonstrating the capabilities of the technological innovation of the block-chain, a decentralized, transparent and publicly distributed digital ledger that runs on a peer-2-peer network which prevents any tampering or alterations of it's logged transactions.
To answer your question, it is true, the current financial system works quite well, and is a whole lot faster to use than Bitcoin or cryptocurrency. This is only a time, because the block-chains are becoming much faster and the interfacing around this technology is becoming more user friendly.

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