How does a Bitcoin have any value? - page 7.

GeckoTrader

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Quote from: torch2121 on February 22, 2018, 10:18:44 PM

For me Bitcoin is created because of technology. It is like gold where you can exchange it to fiat. That is the same with Bitcoin. Its value can also be exchange in fiat. Good thing about Bitcoin is, this not controlled by government Bitcoin is controlled by us as user of Bitcoin.

Yeah bitcoin is created because of technology but the real purpose of it is not beneficial anymore, transaction charges are very high. For example when you transfer 100 dollars it will cost you around 10 dollars. And by the way bitcoin now adays is regulated by some government in some countries.

GeckoTrader

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Quote from: ?? on ??

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.

Everything has its value. As long as the recognized people are more valuable.

An antique, for example, is not really useful, but it is often valuable because there are many people who approve of it.

The same is true of bitcoins, which are now accepted by many people.

Yeah, the example you gave like antique is physical, it can be seen. . . Also with gold and other precious metals in contrary to bitcoin which is just digital currency. You cannot see it nor hold it with your hand.

torch2121

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The revolutionary trading ecosystem

For me Bitcoin is created because of technology. It is like gold where you can exchange it to fiat. That is the same with Bitcoin. Its value can also be exchange in fiat. Good thing about Bitcoin is, this not controlled by government Bitcoin is controlled by us as user of Bitcoin.

binting

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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.

Actually i think yes because the value of bitcoin is accept and nice because they earning a lot of coins and recieving of money so that bitcoin is have a value that people accelt it and invest it

Pasnik

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Quote from: LenaPetrova on February 22, 2018, 04:46:09 PM

The amount of demand and supply of the Bitcoin determine the value of the coin at any point in time.

This is the main reason which I really think price of bitcoin has a value. The demand which people continues in buying and has the support in bitcoin. Until now it is unstable because of the demand from the user itself.

LenaPetrova

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The amount of demand and supply of the Bitcoin determine the value of the coin at any point in time.

Arngrim

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Now tell me what are the usage of that certain bright stone you called gold. Grin

People tend to make something valuable when they are shining and that is all it is.
They picked gold because it is harder to find and that makes it valuable.

Now about bitcoin. It had value because of its usage. I get fast transactions now by sending money at a lower price than but large amount of sums.
It is better than a gold which is just so hard and heavy. Grin

mornabo

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Quote from: carlisle1 on February 22, 2018, 05:03:09 AM

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.

what have you mentioned wasnt needed a bright full technology to adopt,gold and fiats is physical but yet need no good technology to maintain,but bitcoin does..this coins and together with all the coins was created for high breeding technology thats the interface is future.no wonder in 2030 you will finally realize what are you talking now

Yeah I think you're wrong, bitcoin has good technology and innovation many people are interested in using bitcoin not just because bitcoin are popular, but bitcoin has interesting things like a decentralized and anonymous currency, you can send money easily without intermediaries and so forth, that's what makes bitcoin valuable even if it has no physical shape, exactly I think more forward the digital-shaped will be increasingly in demand?

HarpeCharlotte

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Because Bitcoin cannot buy bread over the counter, it is difficult to give it an ultimate value at any point in time.

Anyobsss

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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.

The answer is very simple, it has value because people think that it has worth and its price is increasing bitcoin it is gaining popularity and as its popularity grow more and more people use it and think of it as very valuable.

fulmetal08larz

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Trading BTC in the market following the law of supply and demand is what determines the price of BTC. However, the costs in mining is also what makes BTC become expensive. The people gives BTC value because it was created for the people to enjoy their freedom for their wealth. It is a revolutionary advancement in technology which is different from the traditional investment vehicles we are aware of.

goku1525

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Quote from: Ukaraki on February 22, 2018, 05:16:44 AM

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.

Bitcoin is very much appreciated by the public, as demonstrated by the high value of Bitcoin in 2017, compared to other currencies and even by Bitcoin. Knowing that there is no foundation forever, but to see the potential of Bitcoin we must have confidence, but investors also have more choices in other currencies but I still choose Bitcoin.

Bitcoin does not have its value because payments usually transact through in internet transaction. Most people accept currency as a payment and then trade to bitcoin.It is a wise and smart think because bitcoin has a capabilities to earn good money and also it has a possibility that your money grow. This kind of currencies which is bitcoin has a lot of potentials and continue growing your money.

jhamz03

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How does a bitcoin have any value? Well because bitcoin is a decentralized cryptocurrency that is useful to everyone and any country around the world, bitcoin is a digital currency that has a value like fiat money and gold, but bitcoin has more potential value than gold and fiat because of its decentralized platform that can be swapped instantly all over the world. Furthermore bitcoin is anonymous and transparent and it has a low transaction fees.

Ukaraki

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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.

Bitcoin is very much appreciated by the public, as demonstrated by the high value of Bitcoin in 2017, compared to other currencies and even by Bitcoin. Knowing that there is no foundation forever, but to see the potential of Bitcoin we must have confidence, but investors also have more choices in other currencies but I still choose Bitcoin.

owlman

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Quote from: Pjoh ie on February 22, 2018, 04:52:45 AM

bitcoin has value because the number of applicants,more applicants or investors in bitcoin then the price of bitcoin will rise further,but if bitcoin is no demand anymore then bitcoin is its price again.

I do not think that everything is as simple as you wrote. The cost of bitcoins depends not only on these factors, supply and demand, the price can artificially rise and fall.

carlisle1

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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.

what have you mentioned wasnt needed a bright full technology to adopt,gold and fiats is physical but yet need no good technology to maintain,but bitcoin does..this coins and together with all the coins was created for high breeding technology thats the interface is future.no wonder in 2030 you will finally realize what are you talking now

Pjoh ie

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bitcoin has value because the number of applicants,more applicants or investors in bitcoin then the price of bitcoin will rise further,but if bitcoin is no demand anymore then bitcoin is its price again.

taiwww

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Quote from: ?? on ??

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.

Everything has its value. As long as the recognized people are more valuable.

An antique, for example, is not really useful, but it is often valuable because there are many people who approve of it.

The same is true of bitcoins, which are now accepted by many people.

How this one is good though you tried to express it completely but there is difference between the bitcoin and antiques. Though the comparison was upto the market conspiring the OP's question.

So yeah, anything that has recognition or anything where people want to invest their own money (which is valuable ) gets the value of that much of money. For example, Lisa Painting, now what the use of that, despite the thing that it is just known for its mysterious smile and people want to have it because it is popular in the world and one of its kind! The end result is billion dollar painting.

In similar ways, bitcoin is crypto currency with at least some use for us. Its getting value because the demand for the same is growing day by day and people are putting huge investment into it. That why its getting value.

Carlsen

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I like to compare bitcoins with patents.
A patent only allows you to do something. If many people want to have that permission, the patent is worth really a lot.
Bitcoin allows you to transfer money without banks. And that is something many people want.
Bitcoin allows you to earn because of its increase in price. That is something many people want as well.
To me there is the value of bitcoin.

Harrisonimo

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Basically, in summary, it is demand and supply that makes bitcoin gets its price values. The other main reason is its use as base currency in purchasing most of the altcoins and also the easiest coin in converting to our fiats. This has earned bitcoin its high regard and value.

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