How does a Bitcoin have any value? - page 5.

xaviervilla

full member

Activity: 350

Merit: 100

Quote from: GeckoTrader on February 18, 2018, 04:33:42 AM

Bitcoins do not have value as a physical commodity like gold and are not widely accepted as legal tender like dollars.

Rather, Bitcoin appears to have value for the following reasons: It is popular.

In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin.

In a sense, I think you are right. But you see my friend, bitcoins are not only valuable because of its popularity. Remember, everything that becomes popular has its own share of a trait, usability or anything that people can benefit from that determines why it is continuously adored by lots of people. and that is also the case with bitcoins. You should understand this.

JC btc

sr. member

Activity: 770

Merit: 253

Quote from: really01 on March 09, 2018, 09:52:08 AM

Just like all currencies in the world. Bitcoin is valuable because it is believed to be valuable. With dollars or other currencies everyone believes in it, and that value is guaranteed by the national government. However, bitcoin is not guaranteed by anything, but it does not depend on anyone. Its value only depends on the supply and demand rules at each moment. So no one can kill Bitcoin.

For those who don't have any idea how bitcoin works or how come that it has value, well in Economics there is a thing call purchasing power or the willingness of a certain people to pay in exchange for a goods and services. And the more demand the higher the price would it become due to thing called Scarcity.

really01

jr. member

Activity: 150

Merit: 4

Just like all currencies in the world. Bitcoin is valuable because it is believed to be valuable. With dollars or other currencies everyone believes in it, and that value is guaranteed by the national government. However, bitcoin is not guaranteed by anything, but it does not depend on anyone. Its value only depends on the supply and demand rules at each moment. So no one can kill Bitcoin.

mOgliE

legendary

Activity: 1344

Merit: 1251

Hi,

I think that's the spirit, indeed. Most people are trading small amounts, in hope they can make a large profit. But that was not the objective behind bitcoin creation.

Bitcoin was meant to be an alternative, allowing people to get rid of banks. I believe in bitcoin as in an international system of exchanges!

Bitlord88

member

Activity: 154

Merit: 12

Bitcoin has its sale value simply because it is used in a variety of trading means. Bitcoin's market share is also rapidly expanding thus making it even more valuable and also considered as an asset now.

AudreyAllison

newbie

Activity: 336

Merit: 0

The accessibility, or inaccessibility of sellers of Bitcoin may verify it's price as less of it always will increase the value

Ojengonggu

full member

Activity: 756

Merit: 105

Trphy.io

When looking at the development of bitcoin and more people who know bitcoin in the wider community
I think bitcoin will be pure gold that can be saved as long-term investment and the price will increase because of its many uses
and will be a medium of exchange that can be received throughout the country. this will probably happen in the future ....

nitrousteam

member

Activity: 154

Merit: 15

Quote from: cafe84178 on February 26, 2018, 03:40:50 AM

The value of bitcoin comes from "the recognition of the majority". If people trust it and are willingly to use it, it gains its value.

Demand, support, and reputability are the keys to the Bitcoins value. There is also another factor and that is the top market cap which is limited. With every block mined difficulty of the mining process gets harder and value is also influenced in some way because of that.
_______________________________________________________________________________ _____________________________________________
What will happen when all the Bitcoin is mined? That is far in the future but I believe that the Bitcoin will come to the phase where it will stand on the stable value which will be very high at that point.

mx667

full member

Activity: 294

Merit: 114

Quote from: bitcoinajax455 on March 08, 2018, 07:15:58 PM

How does a bitcoin have any value? Bitcoins have any value because they are useful as a form of money. The value of bitcoin can be measured by its growing base of users, investor's, and merchants. As with all currency, bitcoin's value comes only and directly from people willing to accept them as payment. That's why bitcoin have any value.

Yes, I totally agree with you. Bitcoin is very useful in the term of money transaction and transfer. When you transfer money using Bitcoin, you do not have any limit to transfer or limit of the amount of money that you want to transfer. That is why people become so interested and want to learn about Bitcoin. In the other hand, Bitcoin is encrypted currency that people cannot track down so easily. If you transfer money in huge amount using bank account so suddenly and unusual, you will questioned and be tracked down by the bank. Even though Bitcoin can also be use to doing transaction on the black market on the internet.

bitcoinajax455

newbie

Activity: 154

Merit: 0

How does a bitcoin have any value? Bitcoins have any value because they are useful as a form of money. The value of bitcoin can be measured by its growing base of users, investor's, and merchants. As with all currency, bitcoin's value comes only and directly from people willing to accept them as payment. That's why bitcoin have any value.

OuterTech

full member

Activity: 294

Merit: 100

Tokenize Fantasy Sports

If you said that, sure that you don't know about cryptocurrencies. Blockchain technology of cryptocurrencies is vast, not only in currency but also in many other industries. So the future of cryptocurrencies, as well as Bitcoin, is very bright, promising to bring great value, become the currency revolution in the future.

ecnalubma

sr. member

Activity: 1540

Merit: 420

www.Artemis.co

Quote from: GeckoTrader on February 18, 2018, 04:33:42 AM

Bitcoins do not have value as a physical commodity like gold and are not widely accepted as legal tender like dollars.

Rather, Bitcoin appears to have value for the following reasons: It is popular.

In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin.

Considering it a digital commodity, Bitcoin got its value from the demand, trust and technology that it offers. Let us remember that without Bitcoin there is no Blockchain technology. It is the internet 2.0 or the new gold of new age and its more valuable than any kind of commodity nowadays.

waqasniaz007

full member

Activity: 406

Merit: 121

Quote from: GeckoTrader on February 18, 2018, 04:33:42 AM

Bitcoins do not have value as a physical commodity like gold and are not widely accepted as legal tender like dollars.

Rather, Bitcoin appears to have value for the following reasons: It is popular.

In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin.

FIAT curreny is only paper which can be printed by government at any time they want and this create inflation, Whereas bitcoin has limited supply and tottaly depend on demand and supply. It is back by cryptography and electricity and sometimes electricity bill become more expensive than bitcoin price. In short bitcoin is digital asset that exchange the value and it is depend on demand and suppy.

sevenbits

member

Activity: 166

Merit: 12

Quote from: GeckoTrader on February 18, 2018, 04:33:42 AM

Bitcoins do not have value as a physical commodity like gold and are not widely accepted as legal tender like dollars.

Rather, Bitcoin appears to have value for the following reasons: It is popular.

In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin.

In the end, same as with dollar. How can it be reinforced? Only the agreement of people to deal with him. If this arrangement changes, then the medium of exchange will change.

james23

newbie

Activity: 126

Merit: 0

Quote from: GeckoTrader on February 18, 2018, 04:33:42 AM

Bitcoins do not have value as a physical commodity like gold and are not widely accepted as legal tender like dollars.

Rather, Bitcoin appears to have value for the following reasons: It is popular.

In short, people accept and trade in Bitcoin because other people accept and trade in Bitcoin.

Its have a value because people are keep trading and investing to bitcoin

randyboy

member

Activity: 378

Merit: 10

all things have value.
bitcoin have value because many people are satisfied of a digital money that help them through easy way of payments and also to have income with no difficulties even its have many speculations. many people want bitcoin besides its popular and many people become rich because of bitcoin and many want that so bitcoin have its own value even you don't want to.

Bonakid

full member

Activity: 224

Merit: 121

Bitcoin is like gold in value,so that many people are interested on crypto.Even though it was volatile the price was still in stability ,investors engage on it due to its increasing value for being in a good standard in the market.When we say in any physical features bitcoin has no value because it was decentralized, but the fact that it is online the value was so amazing.

EvelynAriana

newbie

Activity: 840

Merit: 0

Bitcoin does not have an absolute value like a 5 or 10 dollar note or any currency of some sort.

cafe84178

jr. member

Activity: 37

Merit: 1

The value of bitcoin comes from "the recognition of the majority". If people trust it and are willingly to use it, it gains its value.

fiulpro

hero member

Activity: 1890

Merit: 831

Its not very apt in saying bitcoin has no value at all.
The fact that it is decentralized, and a digital monetary mode is itself providing it an edge over other paper money and commodities and therefore assigning it a value.

It being popular is not wrong in any sense, but that is not the only reason why people value it and back it. When we go to find the science and technology behind bitcoins, which by the way also laid down a pathway for many many other new cryptocurrencies these days, we cannot stop without aopreciating the whole system.

The security features are at par compared to paper money. And the transparency is also equally fascinating. And the fact that inflation can never occur in bitcoin system is in itself commendable.
Due to all of these reasons and many more, bitcoin has a value, rather an increasing value.

Topic: How does a Bitcoin have any value? - page 5. (Read 1086 times)