Topic: How does Bitcoin have any value? (Read 675 times)

Bitcoin value is drive mostly from it demands and supply, and when the is high market demand of bitcoin it value tends to increase just like every other commodity in the market e.g gold and real estate bitcoin value is subject to demands. When the demands are high the value increase, and again since bitcoin is decentralized and can not be printed by government or any body to avoid inflation the supply is limited and when ever the demands increase it must reflect on bitcoin value.

Bitcoin doesn't have a physical value like cash, but the demand gives a value to a bitcoin like mining, trading or buying bitcoin.

Bitcoin has value because it is like a valuable item that can be traded. Surely with limited supply and how to get it that difficult, make Bitcoin more expensive. That's what makes Bitcoin worthwhile.

Bitcoin's value depend on its users demand. The demand is being dictated by the number of buyers and sellers in the market. It depends on how many people is willing to pay for it because they think that it will increase its value as time goes by. In additional to that, are the companies around bitcoin that offers different services to its users.

This is a great simplification. I often wonder how does the bitcoin gain it's price and you just explained it to me. Kudos

The value of bitcoin comes from its supply,demand and how hard it is to mine, we all know that todays demand for bitcoin is high and there is a limited supply in the market.

What is value? Value of anything is coming from demand. If no demand so no value.
And now, as we know demand to bitcoin is quite high and it makes bitcoin has value. More demand so more valuable it is.

in the world of bitcoin cryptocurrency does have a very good value, because bitcoin has now become a very useful and useful payment tool by utilizing the sophisticated technological sophistication.

This excellent article does a great job of answering the original question posed on this thread. I learned a lot from reading it:

https://blog.chain.com/a-letter-to-jamie-dimon-de89d417cb80

it has the value that people are willing to grant him

Utility, Speculation and Store of value.

Yeah this is the main thing that bitcoin will have the value, so for people who want to understand that, they should read about supply and demand like you said. Now the demand of bitcoin is too high so we see that bitcoin price increase too much.

Now prime misters of countries are holding bitcoin and even kids are holding bitcoins for these future because they know that bitcoin will change there life. So what can we say more about bitcoin. Because bitcoin having not even value but it have marked the history because it is the most precious value.

Honestly it doesn't have any inherent value as it is backed by nothing but nonetheless it has the value people are willing to give it and that is quite big right now. Goes to show how much the world doesn't trust governments and I am no different I dislike governments for the most part. Sure they provide us with resources based off taxes but still they are so slow at changing policies and doing anything the citizens want. If you are in a communist state you surely agree and if you are in a "democracy" I think you would also agree but this is no true democracy. It is handful of people deciding what to do for you which I think is complete crap. If you want change put EVERYTHING up to a vote, if not you will get bitcoin revolution. Eat it governments, eat it all god damn day

Hello all! You know all are simple for example art. We can say that painter spend time and use soul for creating drawing picture and if I want get this picture  I will pay all I can to getting this but another person want it too. So its create supply and demand. Maybe not perfect example sorry)

Bitcoin value is determined by the buyers and sellers. Read about supply and demand and you will know in detail. In summary, the seller sell BTC at a price level and the buyer thinks it is worth the price and buy it.

It's a matter of supply and demand. People are starting to realize all the advantages that bitcoin brings and they buy it. Also miners pay a lot for energy and they are not gonna sell at a lower price ( meaning they wont sell at a loss)

Bitcoin does not just have any significance, it's the main crypto currency. Bitcoins own more than 50% of the capitalization of all cryptology. And all the crypto-currencies bear the huge promise inherent in the code economically.

That is an excellent question, and one I have been asked in real life by friends, and it's not easy to answer. The short simple answer is that it has value because there are people willing to pay for it. People are willing to pay for it because they think it will have more value in the future.

But what is actually backing Bitcoin up?

I believe it's mostly the technology and the fact that many people are involved in it. With that said, there are other coins which have taken the block chain concept one or more steps further, improved on the technology. Some of those coins will eventually replace Bitcoin in my opinion. But for the time being, and probably the next few years, Bitcoin has the first mover advantage, and it's the only cryptocoin most people know about at this point.

Another thing adding value to Bitcoin is the infrastructure that has developed around it. There are more and more services out there which take Bitcoin in payments or even exist because of Bitcoin, such as Coinbase, BitTrex, Poloniex and numerous other exchanges.

With all that said, there are still aspects of Bitcoin that are backed up by the current interest of more people and speculators. Right now they want in, so the price goes up. But if their interests go elsewhere, then the price goes down. So for that reason, Bitcoin could also be a bit of a bubble, so you need to invest with caution. I would also recommend getting educated on the other cryptocoins and diversifying into some of them as well.

Value is a man made concept. If someone wants to pay an amount for something, then it has value. Do not read too much into it.