Does Bitcoin have any real value? - page 7.

Nora Olin

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Quote from: jackg on October 01, 2021, 09:27:22 AM

Quote from: lumierre on October 01, 2021, 09:18:59 AM

First of all, I want to ask you if Gold is backed by anything, or why do many people think that it is one of the best investment?

Most people say gold has historic significance to it, it's also used in industry quite a bit and is used a jewellry as well as other stuff.

The main thing increasing the price of gold is the miners profiting off it though by producing a scarcity, most industries can use platiumum better than gold too so there's less of a reason for its uses.

On the what is bitcoin backed by, what is currency backed by? There has been a lot of studies on the economy and many have found that the largest investments are in derivative assets (often people buying portions of assets or buying assets against other people selling them - while neither hold the asset - which does seem quite odd).

I've generally considered an investment in Bitcoin to be an investment in its: name, developer community and infrastructure at least.

Bitcoin is virtual, not as visible and tangible as gold, and gold has a long history and has many uses, but it is also limited, because it is more valuable because of its scarcity. But when investing in something, you should first understand and study it yourself.

NathanielParker

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Everyone has a different understanding of value, but these things are values assigned by people. In my initial opinion, Bitcoin was just a bubble, but now Bitcoin has become the first choice for investment and has been adopted by many countries.

Olayinka2225

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Yes bitcoin is not backed by any assets till dates either by gold or anything but yet it still has value even far more than the so called assets we all know. And this is achieved by it's acceptance by the community. The community gave it more value than coal, gold, Mercury etc.

breathlessz

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Trphy.io

Quote from: PeRo on December 10, 2021, 01:52:39 PM

That is pretty much the point of Bitcoin. It isn't backed by any physical asset because it is made to be decentralized and to have a different kind of market. It doesn't have actual physical value, but that is just a new way of investing and it is most probably the best kind of asset. Digital assets are definitely the future and their adoption is getting bigger by the day. I think it's worth a try, you just have to accept the new technologies.

bitcoin is not backed by physical assets, but this is a new breakthrough in the digital world, so the formation of price comes purely from supply and demand. with the increasing number of requests it will make the value higher, and therefore we can see the high volatility of bitcoin

dark1234

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every exchange must give a statement
Disclaimer:
Trading bitcoin and crypto assets carries a high level of opportunity and risk. Make sure you use good judgment in making buying and selling decisions on your assets. crypto market does not force users to make buying and selling transactions and all buying and selling decisions of your digital money assets are your own decisions and are not influenced by any party.

so the OP actually already knows what to do next
and you are here I think you understand to understand what bitcoin and crypto are

KaliLinux

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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 solely your decision to make and if you don't understand Bitcoin enough and you still believe that you need some convincing by others to invest, then you might not be ready for what's to come with the market. This is a decentralized entity even though it is still valued in the USD, it need not be backed by anything for it to have value and I believe you have noticed this.

PeRo

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Defend Bitcoin and its PoW: bitcoincleanup.com

That is pretty much the point of Bitcoin. It isn't backed by any physical asset because it is made to be decentralized and to have a different kind of market. It doesn't have actual physical value, but that is just a new way of investing and it is most probably the best kind of asset. Digital assets are definitely the future and their adoption is getting bigger by the day. I think it's worth a try, you just have to accept the new technologies.

crussaders1411

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for the real world everyday bitcoin does not exist then the fundamental value of Bitcoin is "zero." And for the stock world or the virtual world, bitcoin is real. In my opinion, until recently the Bitcoin market has tended to be driven by unreasonable 'luxury', thus attracting many investors who are not used to seeing investments in cryptocurrencies.

Akash1243

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Yes, Bitcoin is not backed up by nothing. Bitcoin's value depends upon the demand and supply in the market and that it's limited in number i.e. 21 million. Also gold is not backed up by anything, its value comes from how it's a precious metal and limited in nature. But unlike gold, Bitcoin has many more features and characteristics like decentralization, transparent,easy and fast transactions and cannot be counterfeited.
I would think Bitcoin is better option than gold in both short term and long term investment.

goldkingcoiner

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A Bitcoiner chooses. A slave obeys.

Quote from: geegaw on December 10, 2021, 10:38:48 AM

Quote from: K4C on December 10, 2021, 08:21:36 AM

It doesn't have the real value . Because it is digital assets not a thing which could sale to everyone. Any crypto currency fiat or digital assets don't have its real values. But the community make it valuable. If no one buy Bitcoin today then your Bitcoin value in nil. Because it is controlled by any person or government but the whole community is involved in it . If they backed then it is nothing.

Indeed, bitcoin in the real world are just chunks of data that programmers can write over and over again with their skills but with a few compliments from the community as well as some experts, then embroidered with a few future badges, many sparse trees have formed a forest and a unique land after only a few years. Although practicality and real value never appear too much but with the support and ability to link bitcoin's potentials with the real system, it's very likely that bitcoin will have a real transformation in the future.

I think people really underestimate the other costs of creating Bitcoin. We have several such as mining rigs, renting areas for the rigs, electricity costs, internet bill, and much more misc. costs that range from small impact to large impact on the mined Bitcoins end value.

So the question is, is mining Bitcoin really not connected to anything physical, or is that just how it "feels"? Because I see a lot of value going in.

geegaw

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Quote from: K4C on December 10, 2021, 08:21:36 AM

It doesn't have the real value . Because it is digital assets not a thing which could sale to everyone. Any crypto currency fiat or digital assets don't have its real values. But the community make it valuable. If no one buy Bitcoin today then your Bitcoin value in nil. Because it is controlled by any person or government but the whole community is involved in it . If they backed then it is nothing.

Indeed, bitcoin in the real world are just chunks of data that programmers can write over and over again with their skills but with a few compliments from the community as well as some experts, then embroidered with a few future badges, many sparse trees have formed a forest and a unique land after only a few years. Although practicality and real value never appear too much but with the support and ability to link bitcoin's potentials with the real system, it's very likely that bitcoin will have a real transformation in the future.

K4C

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$CYBERCASH METAVERSE

It doesn't have the real value . Because it is digital assets not a thing which could sale to everyone. Any crypto currency fiat or digital assets don't have its real values. But the community make it valuable. If no one buy Bitcoin today then your Bitcoin value in nil. Because it is controlled by any person or government but the whole community is involved in it . If they backed then it is nothing.

Nrcewker

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LuckyDiamond.io - FLAT 50% Deposit Bonus!

Bitcoin has a value like other commodities if the people give its value. It can say that Bitcoin could be assets as well as currency. Like the Gold, silver it's value also increases or decreases with respect to the market. We can get anything by its value. But one thing one can use or spend it wisely when he/she knows the actual value of it. Many people think that the Bitcoin is not safe, even if my mother thinks that it is very dangerous for trading. But when she managed to understand, she knew the actual value of Bitcoin.

btc78

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Eloncoin.org - Mars, here we come!

Quote from: numberslacey on December 07, 2021, 02:28:42 AM

Quote from: Fakhrulenclix on November 16, 2021, 12:18:31 PM

Yes, bitcoin is not supported by anyone. It would be very difficult to answer this question. Simply put, the value of bitcoin will continue to exist if it is still used by the community, if it is not used again directly its value will be lost. The logic goes like this, If you invest in bitcoin it means you are a supporter of bitcoin to keep its value. This means that the value of bitcoin depends on the person who uses it, and there applies the law of the market, namely "supply and demand".

I’ve been trading forex for quite a while now and the value of currencies depends on many factors other than demand and supply alone. Is there any other factor (except demand & supply of course) which impacts the value of bitcoin?

I think there is None? because market will only move(Specially in volatile market like this) because of Supply and Demand . same as in all trading platform it the world,
Yes this maybe a currency that can be use even not in trading but back up is from US who Use this and there is no need for physically back up.

Quote from: Semar Mesem on November 06, 2021, 10:47:15 AM

Bitcoin and altcoins have value because they are used by the community and the number of active communities is very large, value occurs because of demand and stock as is the case with the market.

well the question is about back up and not the use of this coin.

I still think that there is no need for back up as long as people is using this and not for another way .

bitterguy28

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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 has a value depend on your belief and support , Like what Gold or Fiat that has Physical backing up, Bitcoin is in Virtual and that is what we believe and trust this currency .
so Real Value is depend on how much you bought and how much you want to sell.
that means depend on circulating value and supply .

Quote from: llooafer on November 15, 2021, 09:53:18 PM

Is there any practical value in Leonardo's paintings?
If someone recognizes Leonardo da Vinci, he may spend a huge amount of money to buy a painting. If others do not recognize Leonardo, you may give her a painting and pay a portion of the money. He thinks the painting is worthless.
Value is given by people. When everyone's "consensus" is the same, then this thing will be very valuable.
Bitcoin is like that.

Wow Great comparison and Hope OP will understand that clearly .

witcher_sense

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Quote from: numberslacey on December 07, 2021, 02:28:42 AM

I’ve been trading forex for quite a while now and the value of currencies depends on many factors other than demand and supply alone. Is there any other factor (except demand & supply of course) which impacts the value of bitcoin?

Bitcoin is a product of a free market, the price of it is determined by a free market, the supply of and demand for are the only forces that impact its value. There are no central banks to set an official exchange rate for Bitcoin, it is the market that decides what the exchange rate of bitcoin should be. In short, there are no other factors other than supply and demand that affect the price. However, there are definitely some factors that exist that affect the price of bitcoin indirectly, that is, they affect either the demand for or the supply of bitcoin. For example, negative or positive news, manipulations, stock market crash, China banning bitcoin mining, Christmas or Black Friday may result in instability on the market. If the previous equilibrium of supply and demand is broken, it will result in a higher or lower price.

numberslacey

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Quote from: dimox on November 16, 2021, 03:28:47 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?

thats why people never trust in bitcoin, no real stuff back bitcoin up. people still ask about what you can do if you dont have any physical thing you hold. the fact, people get what they expect and bitcoin repeat what people want to see.
investation not from other people, you must ask your self, convincing your courage, to invest in bitcoin.

Bitcoin is a digital currency and I don’t expect any physical thing to hold on. Even if fiat money has physical existence, without any value it is a worthless piece of paper. I am more concerned whether bitcoin will hold its value or will I lose my money after investing in it.

numberslacey

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Quote from: Fakhrulenclix on November 16, 2021, 12:18:31 PM

Yes, bitcoin is not supported by anyone. It would be very difficult to answer this question. Simply put, the value of bitcoin will continue to exist if it is still used by the community, if it is not used again directly its value will be lost. The logic goes like this, If you invest in bitcoin it means you are a supporter of bitcoin to keep its value. This means that the value of bitcoin depends on the person who uses it, and there applies the law of the market, namely "supply and demand".

I’ve been trading forex for quite a while now and the value of currencies depends on many factors other than demand and supply alone. Is there any other factor (except demand & supply of course) which impacts the value of bitcoin?

dimox

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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?

thats why people never trust in bitcoin, no real stuff back bitcoin up. people still ask about what you can do if you dont have any physical thing you hold. the fact, people get what they expect and bitcoin repeat what people want to see.
investation not from other people, you must ask your self, convincing your courage, to invest in bitcoin.

Fakhrulenclix

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Yes, bitcoin is not supported by anyone. It would be very difficult to answer this question. Simply put, the value of bitcoin will continue to exist if it is still used by the community, if it is not used again directly its value will be lost. The logic goes like this, If you invest in bitcoin it means you are a supporter of bitcoin to keep its value. This means that the value of bitcoin depends on the person who uses it, and there applies the law of the market, namely "supply and demand".

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