Topic: Does bitcoin has any intrinsic value? - page 3. (Read 482 times)
Does bitcoin have intrinsic value? bitcoin is at the forefront of all crypto coins and it is also the first crypto currency and everyone can invest with bitcoin so bitcoin has a very intrinsic value or can be called a magnet to attract people to invest in bitcoin. and very safe to invest, very safe and can be controlled by us as bitcoin investors and transactions is also easy.
I am really thoughtful to know that why btc has so much value than other cryptos. Does it has any intrinsic value??
What's your opinion??
Btc is very different from other crypto, because Btc was first made to store high value in other crypto, it does not mean Btc is intrinsic, if Btc is said intrinsically maybe some people assume Btc-shaped metal has a lot of valuable content in it. So it all depends on someone to judge for themselves. What's your opinion??
his is practically a bill of the state, which says that its holder has the right to receive certain material benefits at a size determined by the merit of this bill.
Currently bitcoin is in the leading position of all crypto coin and it is also the first crypto currency.Day by day it is getting popular as it is very secure and transaction is alo easy. Many people and companies has developed huge faith in it. 
I'll answer your question succinctly with a question. How is Bitcoin created and does that energy cost money? There is your answer.
I think because the bitcoin digital currency actually has any intrinsic value its value only comes from the belief and willingness of bitcoin currency to function as a medium.
I am really thoughtful to know that why btc has so much value than other cryptos. Does it has any intrinsic value??
What's your opinion??
What's your opinion??
Bitcoin has its own intrinsic value due to the huge amount of equipment for mining and spent on the extraction of coins of electricity. In addition, the number of stores that take bitcoin as a payment for their products increases day by day.
I am really thoughtful to know that why btc has so much value than other cryptos. Does it has any intrinsic value??
What's your opinion??
my opinion of bitcoin has tremendous intrinsic value with technological advances nowadays. anyone with bitcoin can be used for transactions that I find very safe, because bitcoins run in a decentralized blockchain network. and all bitcoiner holders know that bitcoin is the first and the oldest digital currency among other crypto, bitcoin being the first rank among all the other cryptoes on the market What's your opinion??
Yes, of course. Bitcoin has the ability to handle large transactions even through transactional messages only and this can be done globally, which means bitcoins can be widely distributed and everywhere.
To store all transaction-related information in one bitcoin, you only need to specify a "timestamped" that will record the data permanently in a bitcoin database (called Blockchain).
In December 2013, 1 Bitcoin has been able to attach 1000 messages, and each message can be sent in less than 10 minutes.
Each message can be said to have a value that can confirm proof of ownership of the message or the contents of the document.
If we consider this in a widely applicable electronic notary service in a foreign country, for example, it costs about $ 10 per document. And if this is applied equally in Bitcoin, then of course 1 Bitcoin, will have an intrinsic value of 10,000 Dollars per 1 Bitcoin.
To store all transaction-related information in one bitcoin, you only need to specify a "timestamped" that will record the data permanently in a bitcoin database (called Blockchain).
In December 2013, 1 Bitcoin has been able to attach 1000 messages, and each message can be sent in less than 10 minutes.
Each message can be said to have a value that can confirm proof of ownership of the message or the contents of the document.
If we consider this in a widely applicable electronic notary service in a foreign country, for example, it costs about $ 10 per document. And if this is applied equally in Bitcoin, then of course 1 Bitcoin, will have an intrinsic value of 10,000 Dollars per 1 Bitcoin.
Whether or not money has intrinsic value should depend on whether it can be an exchange medium and facilitate transactions, and maintain a certain degree of scarcity.
In my opinion bitcoin has some intrinsic value, because it's payment system is also very effective and it's very easy to use. And the trader and the holder determine the value of bitcoin. Moreover, it is virtual currency. Bitcoin gained so much popularity now a days.Besides, it has got a very good repulation.It is developing and making advanced technologies, better than other coins.
From my perspective i think bitcoin has some intrinsic value because it is very easy to use and its payment system is also very effective. Investor can be store bitcoin also. 
lets take gold.
ys gold has purpose EG jewellery, curcuit boards.
but do you know why gold ounces cost $1k instead of $1. because on average it costs $1k+ to mine anounce of gold.
if gold could be mined for $1. gold miners would sell it for $1-$2 and be mining happily all day long. knowing people are there to tak gold off their hands to pay for the labour of extracting gold
same goes for bitcoin.
it costs many thousands to mine one btc. and bitcoin miners wont sell thor coins for much less than it cost them to mine it. infact most pools hoard coins and wait it out for the price rise until its worth selling. and thus the price averages out to be around the cost of mining +/- some speculation
though bitcoin also had alot of purpos ideolism and function in 2009-2013 which has reduced since that period. it still does have some function.
thus bitcoin does have intrinsic value thats made up rcently more so based on cost of production and a bit based on function.
but with that said its important to ensure bitcoin has purpose/function and not be treated as just a "store of value" as its sole purpose because "store of value because store of value because store of value" is not a sustainable sole purpose.. so not only thinking about the cost of mining and store of value we need to kick the devs ass to concentrate on bitcoins mainnetblockchain function. and less on the side services that will eventually also be used for other currencies and thus not be something unique to bitcoin
ys gold has purpose EG jewellery, curcuit boards.
but do you know why gold ounces cost $1k instead of $1. because on average it costs $1k+ to mine anounce of gold.
if gold could be mined for $1. gold miners would sell it for $1-$2 and be mining happily all day long. knowing people are there to tak gold off their hands to pay for the labour of extracting gold
same goes for bitcoin.
it costs many thousands to mine one btc. and bitcoin miners wont sell thor coins for much less than it cost them to mine it. infact most pools hoard coins and wait it out for the price rise until its worth selling. and thus the price averages out to be around the cost of mining +/- some speculation
though bitcoin also had alot of purpos ideolism and function in 2009-2013 which has reduced since that period. it still does have some function.
thus bitcoin does have intrinsic value thats made up rcently more so based on cost of production and a bit based on function.
but with that said its important to ensure bitcoin has purpose/function and not be treated as just a "store of value" as its sole purpose because "store of value because store of value because store of value" is not a sustainable sole purpose.. so not only thinking about the cost of mining and store of value we need to kick the devs ass to concentrate on bitcoins mainnetblockchain function. and less on the side services that will eventually also be used for other currencies and thus not be something unique to bitcoin
Bitcoin's intrinsic value depends on what you mean by intrinsic. I would argue that Bitcoins are merely ones and zeros on nodes around the world, which in and of themselves, have very little intrinsic value.
BTC is leading the crypto market since 2010. It is considered to be the first crypto currency which has gained so much popularity now a days.Besides, it has got a very good repulation. being the oldest, it is developing and making advanced technologies, better than other coins.
Here is why Bitcoin has so much value when compared to other cryptos:
For one, it is the first cryptocurrency with the best team of developers. Being the oldest coin out there, it has managed to withstand all sorts of problems and attacks.
Compared to some other cryptocurrencies, Bitcoin has a much smaller attack surface. It has proven to be a very secure form of payment if used correctly.
So far has passed the test of time. On all major exchanges, the trading pairs go mostly via bitcoin. It is the central entity of the entire crypto eco-system.
As for intrinsic value, I think the question could equally apply to any other form of money: Does paper money have any intrinsic value? Not really. Even gold and silver
have no intrinsic value. The value is derived from people's willingness to accept and use these forms of payment as a means of exchange.
For one, it is the first cryptocurrency with the best team of developers. Being the oldest coin out there, it has managed to withstand all sorts of problems and attacks.
Compared to some other cryptocurrencies, Bitcoin has a much smaller attack surface. It has proven to be a very secure form of payment if used correctly.
So far has passed the test of time. On all major exchanges, the trading pairs go mostly via bitcoin. It is the central entity of the entire crypto eco-system.
As for intrinsic value, I think the question could equally apply to any other form of money: Does paper money have any intrinsic value? Not really. Even gold and silver
have no intrinsic value. The value is derived from people's willingness to accept and use these forms of payment as a means of exchange.
Initial Value of Bitcoin -. Gold has intrinsic value because it can be used as jewelry.
Come on man, it has to be expensive, because it is the first one, only because of this rather then any other reason it becomes expensive. It has made the trend and it is most well known all over the world.
In any case, does the inward estimation of the digital currency have an uncertain inquiry? The answer of the question is ambiguous. Numerous people trust that the digital currency has no inherent esteem, since its esteem isn't ensured and it is just an impression of interest and supply for a specific minute. Notwithstanding, one might say that the extra open doors gave by it have a specific inborn incentive in correlation with other monetary resources, money and non-cold hard cash. This cannot be denied
Good thing about this forum is that you will be able to learn more about people sharing their ideas especially with this thread. I never thought that someone would really ask for a question like this. Yeah i have thought about this one also that does bitcoin really have intrinsic value and as usual reading comments below will help me more and i have a lot about how bitcoin created and had an intrinsic value. Thanks to the members who put their valuable ideas about this thread.
The trader and the holder determine the value of Bitcoin. But especially overall is the whale, who discovers the real value of Bitcoin. They are the ones who can change the trend and influence the amount of Bitcoin.
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