Really, why bitcoin has this value? - page 2.

proTECH77

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At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

Bitcoin was created to eliminate delay and errors from the world economy. What you are experiencing right now is the purpose bitcoin was created for whoever that make it legalized in their country will definitely enjoy the benefits attached to it. Bitcoin rise from $30k recently to $67k show that it has a lot to deliver to customers before the end of the year. Despite the challenges many altcoins experienced during the pandemic that still make bitcoin price stand and steady in pumping to prove to the world the positive impact it has to deliver.

llooafer

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In recent years, the popularity of cryptocurrency has only increased. Many countries have set Bitcoin as legal tender, which has increased the value of Bitcoin. More and more people use Bitcoin, and more and more people believe in Bitcoin, which will make the value of Bitcoin higher and higher. Therefore, it is not that Bitcoin itself has a high value, but that people are willing to believe in it because of the "consensus." As a result, Bitcoin has value.

Hippocrypto

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Quote from: Pejoh Asu on November 07, 2021, 12:11:51 PM

Quote from: Gudhal Untu on November 04, 2021, 02:46:02 AM

Quote from: mamesso on November 01, 2021, 07:58:00 AM

Bitcoin price fluctuation will always occur, volatile bitcoin prices to happiness for investors and disappointment when the price drops. The price of bitcoin is determined by supply and demand, When a lot of people buy, the price will go up, and vice versa.
Bitcoin users today are mostly just trader who play bitcoin like stocks, Many choose to become hoarder (buy bitcoins when the price is still low and store in the hope that the price will increase high) to add to his list of wealth.

I think going up or down for traders is always a profitable thing, when the price goes down then buying is a very good thing and this is what allows traders to get maximum profit, there is always an opportunity for profit as long as we are patient to wait.

Most investors, especially newbies, can't wait to wait, they just think that they will immediately get a big profit in a short time, when they see the price drop they panic and immediately sell even though they lose, and they regret that the price skyrocketed again not long after they sell bitcoin.

Indeed. Bitcoin has many advantages over traditional currencies, that is why people are willingly using it and it forms Bitcoin's price. Once bitcoin price changing it's value, they panic to sell their bitcoins even though they might possibly loss it. They don't also think that maybe bitcoin price will pump in the future because we can't even predict what will happen in the future. Maybe after selling their bitcoin they will regret it, especially when it's price pump.

Finestream

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Quote from: Rufsilf on November 09, 2021, 01:46:50 AM

Quote from: magnum1010 on November 06, 2021, 11:13:27 AM

Quote from: shield132 on October 19, 2021, 05:39:49 PM

At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

Actually, I consider bitcoin now to be rather a speculative asset than a means of payment as it is volatile. But I think that within time when crypto will be more and more adopted in different spheres, Bitcoin will become less volatile and it will not change its price so rapidly.
Bitcoin has many advantages over traditional currencies, that is why people are willingly using it and it forms Bitcoin's price.

Yes bitcoin is made to be an international currency to be a form of payment, using a P2P tech with no central authority to act as a middle man. But bitcoin now is more like of an asset or investment to gain profit because of its increasing value due to people's speculations or investment, and it is extremely volatile for now to be used as form of payment. But soon when it's scarce enough maybe the price won't be moving like this much.

But i'm sure bitcoin will always be volatile no matter what and that does not mean that this is not the right time yet to turn it into a good currency. Actually, there are already big companies that are making bitcoin as a means of payment and its volatility is not a hindrance. Although adopting bitcoin as a currency will definitely be a tough process, but i know it will be smooth sailing later on just like with El Salvador. So with this huge demand from bitcoin, maybe we can use it more as a currency and a good investment at the same time.

Rufsilf

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Quote from: magnum1010 on November 06, 2021, 11:13:27 AM

Quote from: shield132 on October 19, 2021, 05:39:49 PM

At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

Actually, I consider bitcoin now to be rather a speculative asset than a means of payment as it is volatile. But I think that within time when crypto will be more and more adopted in different spheres, Bitcoin will become less volatile and it will not change its price so rapidly.
Bitcoin has many advantages over traditional currencies, that is why people are willingly using it and it forms Bitcoin's price.

Yes bitcoin is made to be an international currency to be a form of payment, using a P2P tech with no central authority to act as a middle man. But bitcoin now is more like of an asset or investment to gain profit because of its increasing value due to people's speculations or investment, and it is extremely volatile for now to be used as form of payment. But soon when it's scarce enough maybe the price won't be moving like this much.

bengsabeng

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Quote from: Gudhal Untu on November 04, 2021, 02:46:02 AM

I think going up or down for traders is always a profitable thing, when the price goes down then buying is a very good thing and this is what allows traders to get maximum profit, there is always an opportunity for profit as long as we are patient to wait.

in reality it is not that easy, many investors are hesitant to buy because they are worried that prices will continue to fall. many investors miss the moment when the bitcoin price is below $30k, it is because most investors think the price decline will continue. the right time to buy is indeed when the price is down but in my opinion it is much better to buy when the price has recovered.

marine4u

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Quote from: shield132 on October 19, 2021, 05:39:49 PM

At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.

The value of Bitcoin is not only speculative, but more importantly, it will bring a peripheral, macro, transparent and trusting economy to a free and fair financial world to change legal isues(Fiat) rife with serious breaches of trust. The best is the value of the greatest revolution. The bitcoin value will reflect that freely met value. In the future, I think bitcoin will have a huge value.

qwertyup23

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Quote from: shield132 on October 19, 2021, 05:39:49 PM

At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

Imagine having a currency that can be sent through the blockchain without relying on any intermediaries. The reason on why its price skyrockets is due to this p2p function that can be sent to users. Its anonymity is what makes it really special as it also eliminates the need for any third-party consensus.

The price of BTC is mainly derived from the law of supply and demand. Along with its limited supply of 21 million, inflation is guaranteed. As many people use and purchase it, its price continues to increase especially if a fork happens (2-4 years from now).

Pejoh Asu

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Quote from: Gudhal Untu on November 04, 2021, 02:46:02 AM

Quote from: mamesso on November 01, 2021, 07:58:00 AM

Bitcoin price fluctuation will always occur, volatile bitcoin prices to happiness for investors and disappointment when the price drops. The price of bitcoin is determined by supply and demand, When a lot of people buy, the price will go up, and vice versa.
Bitcoin users today are mostly just trader who play bitcoin like stocks, Many choose to become hoarder (buy bitcoins when the price is still low and store in the hope that the price will increase high) to add to his list of wealth.

I think going up or down for traders is always a profitable thing, when the price goes down then buying is a very good thing and this is what allows traders to get maximum profit, there is always an opportunity for profit as long as we are patient to wait.

Most investors, especially newbies, can't wait to wait, they just think that they will immediately get a big profit in a short time, when they see the price drop they panic and immediately sell even though they lose, and they regret that the price skyrocketed again not long after they sell bitcoin.

terrorJR

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Quote from: Gudhal Untu on November 04, 2021, 02:46:02 AM

Quote from: mamesso on November 01, 2021, 07:58:00 AM

Bitcoin price fluctuation will always occur, volatile bitcoin prices to happiness for investors and disappointment when the price drops. The price of bitcoin is determined by supply and demand, When a lot of people buy, the price will go up, and vice versa.
Bitcoin users today are mostly just trader who play bitcoin like stocks, Many choose to become hoarder (buy bitcoins when the price is still low and store in the hope that the price will increase high) to add to his list of wealth.

I think going up or down for traders is always a profitable thing, when the price goes down then buying is a very good thing and this is what allows traders to get maximum profit, there is always an opportunity for profit as long as we are patient to wait.

One of the keys to profiting is to be patient and wait and get good momentum for this.
I think sometimes everyone is often wrong about this, because indeed compared to buying and selling actually waiting is the most difficult thing to do, many people can sell and buy everything they can but it is very difficult to wait and keep what they have.

magnum1010

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Quote from: shield132 on October 19, 2021, 05:39:49 PM

At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

Actually, I consider bitcoin now to be rather a speculative asset than a means of payment as it is volatile. But I think that within time when crypto will be more and more adopted in different spheres, Bitcoin will become less volatile and it will not change its price so rapidly.
Bitcoin has many advantages over traditional currencies, that is why people are willingly using it and it forms Bitcoin's price.

LUCKMCFLY

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Quote from: Wawa2013 on November 01, 2021, 05:06:21 PM

Quote from: Snappycoco on November 01, 2021, 09:01:32 AM

Quote from: shield132 on October 19, 2021, 05:39:49 PM

At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

It has now evolved into something bigger than digital peer-to-peer payment method. It has now becomes an investment for many and many elites are getting into it. Institutions are having fear of missing out specially that large institutions are now into it. Aside from that, hyper inflation might happen in US and BTC could probably save you from that.

Bitcoin moves based on supply and demand, then Bitcoin demand continues to increase every year and with a limited supply of Bitcoin.
That's what causes the development of Bitcoin is very drastic and the price of Bitcoin is getting more expensive, now many institutions
and rich people are starting long term investments in Bitcoin. Making Bitcoin the best performing asset, therefore people prefer to use
Bitcoin for investment than the original purpose of Bitcoin being created as payment. Moreover, there are still very few countries that
legalize Bitcoin as a means of payment, finally Bitcoin is popular as an asset for investment. Even in the future the price of Bitcoin will be
more expensive, so some people end up deciding on Bitcoin as a retirement plan.

I totally agree with you, the best explanation I could not have seen, in fact the economy that is being generated within the Bitcoin ecosystem including the Blockchain, whales, investors, small investors, traders, those people who are putting their money in Hodl mode to ensure their relaxed and happy retirement, they are not doing it wrong, because the nature of BTC and its economy is clearly deflationary, and being deflationary it is the tool that will always kill the traditional economy based on debt and inflation, I think that is the point where the increase in the price of BTC is generated the most.

Kasabus

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Quote from: Quantum907 on November 04, 2021, 02:35:46 AM

Bitcoin has value because many people are looking for it while bitcoin stock is limited, this is what makes the value of bitcoin continue to increase, as long as there are bitcoin users, bitcoin will be valuable, this also happens to all types of investments.

Why would you doubt the price of bitcoin OP? I bet you know already how profitable bitcoin is and how far its price can go. As long as there is a strong demand from its investors, users, big companies and financial institutions, then its price will never cease from going up. Although sometimes, bitcoin price can be speculated, but knowing its trend will always going upward, so even how many times its price falls, it will always bound to recover. I won't be surprised if in the next 5-10 years, its value will certainly range from $500k and above.

Gudhal Untu

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Quote from: mamesso on November 01, 2021, 07:58:00 AM

Bitcoin price fluctuation will always occur, volatile bitcoin prices to happiness for investors and disappointment when the price drops. The price of bitcoin is determined by supply and demand, When a lot of people buy, the price will go up, and vice versa.
Bitcoin users today are mostly just trader who play bitcoin like stocks, Many choose to become hoarder (buy bitcoins when the price is still low and store in the hope that the price will increase high) to add to his list of wealth.

I think going up or down for traders is always a profitable thing, when the price goes down then buying is a very good thing and this is what allows traders to get maximum profit, there is always an opportunity for profit as long as we are patient to wait.

Quantum907

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Bitcoin has value because many people are looking for it while bitcoin stock is limited, this is what makes the value of bitcoin continue to increase, as long as there are bitcoin users, bitcoin will be valuable, this also happens to all types of investments.

ashmodeus

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Quote from: shield132 on October 19, 2021, 05:39:49 PM

At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.

so u got trapped by the value of bitcoin itself, speak of value , why gold continue declining since 6 month's ago ? , and even peter schiff think it still natural , because it was indeed a fair price at the time, i am also quite sick of speculator bullshit , speaking of idea , indeed bitcoin was created for p2p payment but as the time goes , its evolved , the original idea still in there , but the function increases ,which it also as a symbol of wealthy. gold also changed , from just for jewerly and idols for worship to be a store of value.
so the point is not why on this value, but why u think about value, since 1 bitcoin always 1 bitcoin.

bengsabeng

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The price of bitcoin is very futuatif because the price of bitcoin really depends on supply and demand. besides that this is also supported by the decentralized nature of bitcoin, meaning that no organization or government controls bitcoin. it is for this reason why many countries do not recommend investing in bitcoin because the price of bitcoin can go up and down very quickly.

Silberman

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Quote from: fullhdpixel on November 01, 2021, 05:41:21 AM

Quote from: shield132 on October 19, 2021, 05:39:49 PM

I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

Anything unnatural will not sustain for longer time frame, right? Bitcoin is almost 12 years old and its value is on upward direction among big to small corrections in this time frame. Consistently having value into upward direction artificially is definitely 100% impossible in this modern era. People are having all the resources to verify and to double check in this 21st century. So, bitcoin must have got all the reasons to value. It may be higher due to speculative but when demand also increases then such higher value also becoming reasonable. It is kind of cyclic events like higher value happens first and then bitcoin gets equivalent or higher demand which in cycle induce again higher prices.

This, it is true that sometimes FOMO takes over the market and we see a bubble forming and then a crash happens, however this is something that occurs in all markets and not only in bitcoin, however to think we could have more than a decade of huge growth and that this does not reflect the value of bitcoin and that all of us are victims of a delusion is a mistake, bitcoin should have been worth trillions of dollars from the beginning but instead it is taking a long time to reach its true value.

Wawa2013

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Quote from: Snappycoco on November 01, 2021, 09:01:32 AM

Quote from: shield132 on October 19, 2021, 05:39:49 PM

At some point I am really messed up and lost in vein when it comes to bitcoin's price. I think that every second it gets more and more a victim of speculation and gets abandoned from its original idea.
If bitcoin could perform very well at 6K some months ago, why it become 60K after some months? And then it went back to 30K but was still functioning very smoothly, i.e. it was doing the job it was created for.
Again, If bitcoin could perform well at 30K some weeks ago, then why it worth 60K right now? I just don't get it when people say that bitcoin isn't speculated and all of these prices are just natural.

It has now evolved into something bigger than digital peer-to-peer payment method. It has now becomes an investment for many and many elites are getting into it. Institutions are having fear of missing out specially that large institutions are now into it. Aside from that, hyper inflation might happen in US and BTC could probably save you from that.

Bitcoin moves based on supply and demand, then Bitcoin demand continues to increase every year and with a limited supply of Bitcoin.
That's what causes the development of Bitcoin is very drastic and the price of Bitcoin is getting more expensive, now many institutions
and rich people are starting long term investments in Bitcoin. Making Bitcoin the best performing asset, therefore people prefer to use
Bitcoin for investment than the original purpose of Bitcoin being created as payment. Moreover, there are still very few countries that
legalize Bitcoin as a means of payment, finally Bitcoin is popular as an asset for investment. Even in the future the price of Bitcoin will be
more expensive, so some people end up deciding on Bitcoin as a retirement plan.

sana54210

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Quote from: iv4n on October 30, 2021, 05:58:45 AM

Every price is determined by supply and demand! Growing popularity means that demand is rising, and as long the popularity goes up the price will go up as well, especially when we know there will be a limited amount of coins in circulation!
I also think that Bitcoin will be more valuable in the future because even now we just scratched the surface of the global economy, there's so much space for growing! After the first decade, Bitcoin and crypto achieved a lot, and we can expect that progress to continue, everything is going in the right direction!

The demand is nowhere near where it could be and that is the hopeful part. Sure a lot of people and companies with money got in, however there are billions of people with small amounts of money that could get in and that is what we are looking for in the future, there are also a lot of rich companies that didn't get in yet neither.

Like most known ones are apple and amazon, they are not in crypto game yet, and wall street is in a bit but not a lot, they have a ton of money that they could get in as well. We are talking about trillions of dollars going into crypto in the future, we are not there yet and we could be there very soon, we should be very careful about what we are doing in crypto, but at the same time we should be looking for a situation where we could 10x easily just in bitcoin, maybe even 20x, which means so much more for altcoins.

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