Topic: How does Bitcoin have any value? - page 2. (Read 675 times)

The value of maybe determined by the number of users that is benefiting from it. It can also be determined by the number of supporters that bitcoin has and how is it helping the community. Bitcoin's value may also depend on the supply and demand of the cryptocurrency in need.

This is an interesting article i found,  i really don't know if this changes my mind about the value of bitcoin but this article has its own pook of view.  People will judge if bitcoin has value or no value.

"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. It is recognized and accepted as a currency by many. Bitcoin is decentralized and limited. This is a major factor for many Bitcoin users. Bitcoin is hard for governments to trace and tax. Also, unlike fiat money produced by central banks, there is a cap set on total Bitcoins, limiting how much the currency can devalue through inflation."

Bitcoin's value is based on the trust which bitcoin community has on it.It has gained the trust of investors all over the world.More over,bitcoin is free from inflation as its total supply of coins is fixed as 21 million coins and it would remain unchanged unlike USD which is printed forever.Bitcoin has got its value earlier by delivering unique features to its investors.

It's mainly because what began as a currency has now turned into an "investment" and use as a currency is probably less than 1% of those involved.  People involved spend all of their time trying to get everyone they know as well as strangers to buy into it so those promoting it will gain from the new money inflows. (But don't you dare call it a Ponzi scheme since the truth tends to cause riots around here.)  It's a disaster waiting to happen...if I'm reading your question correctly as being rhetorical.  It needs to greatly come down in value if it is to become a day-to-day currency since the ridiculous price does nothing other than create obscene fees and transaction times.

Bitcoin has value because people tend to sell it for more tomorrow then what they bought it for today.

There is no other reason.

bitcoin is to expensive in the cprypto world in terms of value discussion, as first digital currency using the modern technology no want can control the bitcoin become high price value, now bitcoin treated of people more valuable than gold, one of the mean reason why bitcoin have huge value it because hard to mine and use expensive computer machine before the miner get some bitcoin.

I'd probably say it's because of two words: future adoption.
There's a finite amount of bitcoin to be mined and it's harder for people to mine it unless you have cheap electricity and a huge system set up to do it. Couple that with the fact that more and more places are adopting bitcoin as a payment method. When the supply gets scarcer and adoption rises, the item in question gains value. Right now it's gaining because of the perceived value of its use 10-15 years from now, maybe sooner.
Let's say you live on an island with a few hundred people. Everyone uses twigs as currency: you clean my hut for 10 twigs and I'll buy two coconuts for you for 5 twigs. It's a means of not having to barter for everything (you're using twigs instead of directly saying "I'll give you two coconuts to clean my hut"). Problem is, twigs are everywhere and just about anyone can get them. They're not worth much.
But one day you find this rainbow-colored seashell on the beach. Someone says, "I'll give you 5 twigs for that, the effort it took you to find it and bring it to me!" You say, "sure!" Your seashell now has a value of 5 twigs, or 2 coconuts, or 1 hut cleaning.
More people start bringing up seashells from the beach. More twigs are exchanged for them. What everyone doesn't know is that there are only exactly 1,000 rainbow seashells on the entire beach, no more. Soon there's a run on seashells. You used to be able to get a seashell for 5 twigs but since people are noticing that the seashells are scarce and that some other people are hoarding them, it suddenly costs 25 twigs for a seashell! Then soon after 40 twigs! Then 100 twigs! Then 500 twigs. Finally, seashells are costing 2,000 twigs each. But it's not just twigs ... one seashell now equals buckets and buckets of coconuts or many, many hut cleanings.
So basically money exists as a means of transferring the value of goods and services without having to barter. Once something more desirable and more scarce comes into play, that item takes more value until it either gets really expensive or there's a bubble.
But lucky you, after just a single year, one rainbow seashell costs a whopping 10,000 twigs. And in your forethought, you found a cache of a hundred seashells that you now keep safe in a wallet made of paper.

This is an understandable explanation, something worth because people decide it's worth.
Since bitcoin created to be an alternative payment method or become digital currency with some advantages, such as mentioned above, but the best idea is decentralized feature, I guess.

Basically, bitcoin is just a technology built on internet but it's at this crossroads of technology.
Bitcoin is a better monetary system, the money of the future. Since people trade it (buy and sell) through exchanges, it's worth something according to supply and demand. The first exchange rate was published in October 2009, listing the value of BTC1,309 for $1, and now bitcoin worth over $10,700 across the global exchanges.

Bitcoin is very indemand now because of its value,even though its volatile it was a very increasing price in the market that an investors needs.Other use it as their payment method and they trust bitcoin because it is the only cryptocurrency that popular to the investors it has a great value for them it can make your money profitable.We engage in bitcoin now because it has a strong value for us especially to us that earned here.

Great answer. We, the people, trust in Bitcoin, so it has value. Some of us trust in Bitcoin even more than in colored paper with some numbers on it. The more people trust in it, the more value it has.

bitcoin is valuable because it is in need in the crypto currency market.
bitcoin is also needed in various companies and can also be used to invest. other than that bitcoin is also limited and that is what makes it very expensive.

Because people agree that bitcoin has value therefore there's demands in the market? you can buy stuff by using bitcoin in some countries that accept bitcoin then it's also add up a value to bitcoin
and why it have this much value as it has now, maybe so many people assumming it's bubble, but bitcoin is the future currency and people have agreed upon it.

Have you seen people paying thousands of dollars for game skins before? What value was there for them in those skins? I

am playing a online game now, where we buy crystals {in game tokens} to upgrade faster. Those are digital goods, like any

other physical items you buy. Bitcoin is used to transfer money from country to country..... normally much cheaper than any

other remittance service... those people only use Bitcoin for that reason and that give value for them to move their

wealth.  

Bitcoin's value just like any other currency is derived from the community accepting it as a means of exchange. Right now the community has grown significantly big and many of these people are very rich. Some of the merchants in this community only accept bitcoin as payment. As such some services and goods which is difficult to obtain through fiat is widely available through merchants that accept bitcoin. The demand for bitcoin has increased significantly because of this, and that is why the value is super high right now.

Bitcoin is very populer in any other countries. Beacuse it is high price. It is more popular for students. It grow beacuse it is oneline invesment and i love bitcoin. I thinks bitcoin is more value.

Yes bitcoin has a value...if it is not,why so many people invest in bitcoin...because people know the value...Other reason for more investment because No one can influence the price so it can easily increase...

Quick answer is that bitcoin has value because we say it do, people want to buy bitcoin so we have sellers, the price increases due to supply and demand.

Bitcoin has a value it is somewhat rather particularly proving additional investments or funds to its users and investors, it has a value because it has a price which is consumed by the variety of people which interested in investing in bitcoins. Also it has a value because it something we can use as a mode of payment or a currency.

Bitcoin or rather the blockchain technology has value because the system can accurately register transactions in a trustless network thus solving a lot of real world practical problems.

I think the most accurate answer to this is that bitcoin has a value because it allows you to store your funds somewhere off the grid, anonymously. So when you purchase bitcoins, you are purchasing the right to store your money safely and anonymously. Since the demand for this feature has been increasing recently, the price has been going up.