Does Bitcoin have any real value? | Bitcointalksearch.org

numberslacey

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Quote from: Abiky on May 05, 2022, 09:36:32 AM

Quote from: Wind_FURY on May 04, 2022, 06:06:01 AM

Ser, believe me Bitcoin has real value, especially if you're a pleb in a world evolving into a society that will use CBDC as the main currency. I would also debate that politicians too will want to HODL Bitcoin because of CBDCs.

I know you don't currently understand, but welcome to your journey. In a CBDC world, Bitcoin will have perfect product market fit. The solution came before the problem, wait for it.

That's certainly true, mate. Bitcoin does have value because people gives it value. Being a decentralized cryptocurrency no one can stop, does come with its benefits. With deflation built into the protocol, there's every reason for Bitcoin to be as valuable as it is right now. Believe me, you haven't seen anything yet as the best is yet to come. Once CBDCs come into play, demand for Bitcoin will be higher. That's because people will be seeking privacy and freedom when they won't be able to find it on a CBDC.

We're still in the early phase of digital currency adoption, so I'd recommend anyone to buy as much Bitcoin as possible before it's too late. Just my opinion

I don’t think it’s right to buy as much as of something that’s extremely volatile. Even if I make up my mind to buy bitcoin and other cryptocurrencies, it will not be more than 20% of my portfolio.

numberslacey

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Quote from: crypth0r on May 04, 2022, 08:24:49 AM

Quote from: numberslacey on October 01, 2021, 08:06:23 AM

Bitcoin is not backed by any physical asset like Gold nor by any fiat currency. It makes me wonder if I should invest/trade in Bitcoin or not?

The USD is backed by what? By the economic power? If that is true, there must be a massive issue looking at the charts Wink

Have you ever been in the art "industry"? It is backed by what? I saw people buying a extremely ugly childish painting for USD 2.3 Mio....
Gold is backed by what?

It's all about what people are willing to pay for, that's the whole magic.

Seriously even the craze for NFTs is something that I can never understand.

numberslacey

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Quote from: 19Nov16 on April 25, 2022, 05:48:07 AM

Because it doesn't have a physical form, of course bitcoin was initially worthless, but there is another side that makes bitcoin very valuable, namely a great benefit, because it is useful, many people use it for various transactions which are proven to be faster, more efficient and of course safe, and high demand makes the value of bitcoin continues to increase.

Agreed! Cryptocurrencies have made payments much easier and faster.

TheGhostMan

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yes of course it has a lot of value but this is applied by investors because the value is not fixed. As such, it varies like any cryptocurrency since they are volatile and remain in constant ups and downs for some, very notable and not much for others... but if we talk about a fixed price, of course not, since this is a decentralized currency, it is not controlled by no entity or bank.

Abiky

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Quote from: Wind_FURY on May 04, 2022, 06:06:01 AM

Ser, believe me Bitcoin has real value, especially if you're a pleb in a world evolving into a society that will use CBDC as the main currency. I would also debate that politicians too will want to HODL Bitcoin because of CBDCs.

I know you don't currently understand, but welcome to your journey. In a CBDC world, Bitcoin will have perfect product market fit. The solution came before the problem, wait for it.

That's certainly true, mate. Bitcoin does have value because people gives it value. Being a decentralized cryptocurrency no one can stop, does come with its benefits. With deflation built into the protocol, there's every reason for Bitcoin to be as valuable as it is right now. Believe me, you haven't seen anything yet as the best is yet to come. Once CBDCs come into play, demand for Bitcoin will be higher. That's because people will be seeking privacy and freedom when they won't be able to find it on a CBDC.

We're still in the early phase of digital currency adoption, so I'd recommend anyone to buy as much Bitcoin as possible before it's too late. Just my opinion

Ludmilla_rose1995

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Quote from: numberslacey on October 01, 2021, 08:06:23 AM

Bitcoin is not backed by any physical asset like Gold nor by any fiat currency. It makes me wonder if I should invest/trade in Bitcoin or not?

you must understand that bitcoin is backed up by all holders and also people who love bitcoin. the current value of bitcoin is the belief of many people that the price of bitcoin is worth it as it is today. Fiat currency is backed up by gold and also the government while bitcoin is backed up by all of us.

jhonjhon

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Quote from: numberslacey on April 25, 2022, 03:14:02 AM

Quote from: bitzizzix on April 18, 2022, 11:07:54 AM

Bitcoin has value because many people use it and want it, see it as something of value, and use it as an investment or other use.
and if everyone stops using bitcoin in any form then the price will drop drastically and therefore will not earn anything.
and the value of bitcoin is also determined by the forces of supply and demand and is also limited.

That’s exactly the point ‘what if’ everyone stopped using it.

Though it’s a digital currency that has no physical existence, it is publicly traded around the world and has intrinsic value. Many companies and even brick-and-mortar stores accept payment in Bitcoin and hence, it holds real monetary value.
https://economictimes.indiatimes.com/markets/cryptocurrency/bitcoin-price/cryptodetail/symbol-btc.cms?msclkid=596576c2cbab11ec818537c734df6b74

I believe that investors, traders, and holders will never abandon bitcoin. Bitcoin, in particular, offers several advantages and is beneficial for transactions, money exchange, and other purposes, despite its changing prices. Also, I've heard that politicians are interested in bitcoin these days, so I doubt your "what if" will ever come to pass; there are a lot of what-ifs if people distrust bitcoin.

crypth0r

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Quote from: numberslacey on October 01, 2021, 08:06:23 AM

Bitcoin is not backed by any physical asset like Gold nor by any fiat currency. It makes me wonder if I should invest/trade in Bitcoin or not?

The USD is backed by what? By the economic power? If that is true, there must be a massive issue looking at the charts Wink

Have you ever been in the art "industry"? It is backed by what? I saw people buying a extremely ugly childish painting for USD 2.3 Mio....
Gold is backed by what?

It's all about what people are willing to pay for, that's the whole magic.

Wind_FURY

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Quote from: Wong Gendheng on April 24, 2022, 11:56:24 PM

It is difficult to say the true value of bitcoin and cryptocurrencies, because everything is very dependent on the community, as long as there is stock and demand it determines the value of bitcoin, and we are happy because the bitcoin community continues to increase so that demand also increases.

Ser, believe me Bitcoin has real value, especially if you're a pleb in a world evolving into a society that will use CBDC as the main currency. I would also debate that politicians too will want to HODL Bitcoin because of CBDCs.

I know you don't currently understand, but welcome to your journey. In a CBDC world, Bitcoin will have perfect product market fit. The solution came before the problem, wait for it.

Wakate

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Quote from: numberslacey on October 01, 2021, 08:06:23 AM

Bitcoin is not backed by any physical asset like Gold nor by any fiat currency. It makes me wonder if I should invest/trade in Bitcoin or not?

It all depends on what you really thinks about Bitcoin. Bitcoin is an asset that fluctuate in price just like other physical assets and it has good tendency of surging high more than expected. The price might be low now and that does not make it useless based in what you think about it.

What more do you want from Bitcoin even though the government are still contemplating of what importance it could be to them since every country is fight for a better economy that can supercede others. The reason why Bitcoin is created is having good effect on users without efforts from government.

19Nov16

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Because it doesn't have a physical form, of course bitcoin was initially worthless, but there is another side that makes bitcoin very valuable, namely a great benefit, because it is useful, many people use it for various transactions which are proven to be faster, more efficient and of course safe, and high demand makes the value of bitcoin continues to increase.

numberslacey

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Activity: 39

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Quote from: Agbe on April 18, 2022, 01:14:01 PM

Quote from: numberslacey on October 01, 2021, 08:06:23 AM

Bitcoin is not backed by any physical asset like Gold nor by any fiat currency. It makes me wonder if I should invest/trade in Bitcoin or not?

That is an rhetorical question which probably might be no answer. But that not withstanding, as you know bitcoin is a decentralized currency that need not physical assets to control it. You control yours and I control mine. You should not wonder because investment is not by force. I thought you would asked for the legitimacy of the currency. Investment is a personal interest if you want to do it you are free and if you don't to do it is all your choice.

And another thing you have to consider is the platform, so if you want to invest on bitcoin, asked questions to know the genuine Trading sites to invest. You don't have to be afraid as you are here. What you have to do is to read other threads and learn from them. Your inquisitiveness will determine your out come. So be focus and learn.

I think it’s not even a question of controlling your bitcoins. We don’t have any control over it. Bitcoins are on blockchain we just get an ownership and if the demand decreases the value of bitcoin also reduces.

numberslacey

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Quote from: bitzizzix on April 18, 2022, 11:07:54 AM

Bitcoin has value because many people use it and want it, see it as something of value, and use it as an investment or other use.
and if everyone stops using bitcoin in any form then the price will drop drastically and therefore will not earn anything.
and the value of bitcoin is also determined by the forces of supply and demand and is also limited.

That’s exactly the point ‘what if’ everyone stopped using it.

Wong Gendheng

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It is difficult to say the true value of bitcoin and cryptocurrencies, because everything is very dependent on the community, as long as there is stock and demand it determines the value of bitcoin, and we are happy because the bitcoin community continues to increase so that demand also increases.

mildmanneredsuffering

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no, its a goddam fucking tool for the federalreserve to fuck with people. why on earth would it crash thousands of times over the last 5 years unless it was a scam?

bitcon vs the federal reserve is a false dichotomy like catholics vs jews, they are all run by jews to worship jews and take your money.

well bitcoin and the fed are shit, just like all the other false dichotomy fake choices they present you. the only answer is total extermination of all false dichotomy and for good to rule absolute

Hetadrop

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Quote from: BD Crypto on April 18, 2022, 02:43:24 PM

Obviously Bitcoin has it's real value because it is now the digital currency which is used to make digital transection. So it has real value because we use it as a virtual currency.

Bitcoin is proven to be a good digital medium of transfer so far.

It represents, what a good digital medium of transfer need to do: be available, be secure and be a store of value.
Bitcoin's network has worked very well fo everyone, only a few times, fees were high but are moderate now.

People will use it again.

LUCKMCFLY

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Quote from: 24Kt on April 11, 2022, 06:24:36 PM

Quote from: EdenHazard on April 11, 2022, 06:20:44 PM

Quote from: zhpool on April 11, 2022, 12:16:29 PM

It has value largely because a lot of people think it has value. Like other commodities, currencies and tradable stuff, if people are willing to pay for it, then it has value. If people are willing to accept it as payment, then it can be used to transfer value. If people are willing to buy and keep it, then it can be used as a store of value.

For now most people tend to treat bitcoin like a gold but a version of high return .

They even know that bitcoin may worth nothing at some point , but they insist to get in and there you go .. the value created in the community and it's getting bigger and bigger.
The real value of bitcoin might be 0 and might be unlimited that nobody can imagined it. That's the charm of bitcoin to have real value.

Though we have no backing about the value of bitcoin, it is influenced by the supply and demand in the market. And since the adoption is growing, people believe that in the near future, btc will grow its value. Though for a fact, we have no assurance for that to happen. And right now, if you are thinking about its real value, just convert some of your satoshis to your local fiat, and you will already see that btc do have actual value that you can spend with.

I think that the support of BTC apart from the Law of Supply and Demand, there is nothing other than the same participation of the people, that is, it is a market that moves emotions to the surface, panic, emotions of joy make all the speculative markets move, but especially when talking about Bitcoin too, the whales, the fact that Bitcoin is not backed by gold, or precious stones, makes its value increase, even the very fact that it is not know who is or who are Satoshi Nakamoto is something that already has its intrinsic value there, that is why Bitcoin cannot be compared with another asset, that serves and looks like money, that represents money and that is a deflationary alternative technology, I believe that these are endorsements that are not even obtained in the traditional economy.

BD Crypto

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Obviously Bitcoin has it's real value because it is now the digital currency which is used to make digital transection. So it has real value because we use it as a virtual currency.

Agbe

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Quote from: numberslacey on October 01, 2021, 08:06:23 AM

Bitcoin is not backed by any physical asset like Gold nor by any fiat currency. It makes me wonder if I should invest/trade in Bitcoin or not?

That is an rhetorical question which probably might be no answer. But that not withstanding, as you know bitcoin is a decentralized currency that need not physical assets to control it. You control yours and I control mine. You should not wonder because investment is not by force. I thought you would asked for the legitimacy of the currency. Investment is a personal interest if you want to do it you are free and if you don't to do it is all your choice.

And another thing you have to consider is the platform, so if you want to invest on bitcoin, asked questions to know the genuine Trading sites to invest. You don't have to be afraid as you are here. What you have to do is to read other threads and learn from them. Your inquisitiveness will determine your out come. So be focus and learn.

amishmanish

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The answer my friend is blowing in the wind.
Bit coin gets its value from blockchain mining which makes it a proof of work based decentralized economic token. In other words I think bitcoin derives its value for being an decentralized alternative asset to fiat or gold. That makes it precious.(My precious)

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