Really, why bitcoin has this value? - page 3.

Snappycoco

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Quote from: shield132 on October 19, 2021, 06:39:49 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.

mamesso

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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.

fullhdpixel

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Quote from: shield132 on October 19, 2021, 06:39:49 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.

19Nov16

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The price forming factor is supply and demand, when the stock of bitcoin 11 years ago was a lot and there were few users it was cheap and there are stories of people buying pizza worth $10 with 10k bitcoins, now 1 btc can buy 500 kg of pizza, as long as there is demand then bitcoin will continue to be worth.

Silberman

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Quote from: breathlessz on October 31, 2021, 03:11:01 AM

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Quote from: Lubang Bawah on October 30, 2021, 02:57:17 AM

It is difficult to determine the fixed value of bitcoin, I heard bitcoin in 2012 when the current price was around $110, because the community continues to increase it makes the need and transactions increase so that its value continues to increase, of course the value of bitcoin is very much determined by the community and the good news is that many millionaires in the world are invest bitcoin.

Yes definitely, it was difficult to determine the fixed value of bitcoin. Bitcoin derives its value from a variety of different attributes. Ultimately, both crypto and fiat currencies have value because of trust. As long as society believes in the fiat system, money will continue to have value. We can say the same for Bitcoin, it has value because users believe it does, but there is more to consider. Unlike fiat, Bitcoin has no central bank, and its decentralized structure allowed for the creation of a unique financial system. Blockchain technology offers a great deal of security, utility, and other benefits that's why people choose to invest Bitcoin and has this good value.

in addition to trust, I think the legality of the government also determines for the future of bitcoin whether it can be used as legal tender, or only as an investment tool. Likewise, fiat is currently able to gain the full trust of all people because it has been determined by the government. Until now, bitcoin is decentralized which is still difficult for the government to accept because it cannot be controlled

I disagree, people are going to use bitcoin regardless of its legal status, in some countries bitcoin is still illegal and people are using it anyway because it is the only way they can progress economically where they live, if people have to choose between having something to eat and follow a law the governments of their country put in place in order to benefit themselves people are going to pick the choice that benefits them, and that means adopting bitcoin even under those circumstances.

Cling18

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Bitcoin's value could be speculated by anyone yet there's no guarantee that it could reach a specific value at a certain time due to its volatility. That's the real characteristic of it and that makes it so unique as a currency. It could be manipulated but no one could control it continuously because its community is too big.

skarais

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Quote from: Wong Gendheng on October 31, 2021, 05:16:22 AM

No one guarantees the value of bitcoin because it is purely decentralized, moreover bitcoin does not have a physical form like other types of investment, digital assets such as bitcoin are highly dependent on the number of users, this is what makes bitcoin valuable because it is actively used for various purposes such as transactions, trading and so on. .

Supply and demand are important indicators in bitcoin trading because they will forever affect the bitcoin price. The function of bitcoin as a currency and a means of payment is the reason why since the beginning the demand for bitcoin has continued to increase and the growth of its users has also continued to increase so that the price is also increasingly expensive. Speculation and volatility are inseparable, will continue to exist and be felt by bitcoin traders and investors. Imo, the reason that make bitcoin so expensive is not its adoption as a currency, but its rarity and high demand has allowed traders to be unwilling to sell it cheaply.

Wong Gendheng

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No one guarantees the value of bitcoin because it is purely decentralized, moreover bitcoin does not have a physical form like other types of investment, digital assets such as bitcoin are highly dependent on the number of users, this is what makes bitcoin valuable because it is actively used for various purposes such as transactions, trading and so on. .

Flexystar

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Quote from: iv4n on October 30, 2021, 06:58:45 AM

Quote from: bitzizzix on October 27, 2021, 10:26:12 AM

It is undeniable that the price of bitcoin is determined by supply and demand and its popularity is proof that new users continue to grow which makes demand continue to increase which makes bitcoin prices continue to rise and is also very valuable.
and I think bitcoin will be more valuable in the future because everyone is aware that bitcoin prices are easy to predict because they see developments that continue to grow and increase from time to time which will increase bitcoin prices due to demand, and bitcoin volatility can be easily understood from time to time.

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!

So much space as in, its growing day by day. We may call it as unlimited thing for that matter. I mean BTC as we speak is getting traded in volumes of millions of dollars which is surprisingly huge amount for an asset which had its existence since decade or so. The hike is even not accomplished because BTC strives in many countries against the rules and regulations. Some of them are banning it, some of them are accepting it and some of them are yet to understand it. I believe that these challenges are putting bitcoins value really low on those charts. It has bigger potential than that because once they uplift the bans and we get to synchronise the crypto throughout the world then you will see huge flood of investors getting into bitcoin and pushing all the available limits really. So the space? Yeah its limitless for the bitcoin.

breathlessz

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Quote from: Lubang Bawah on October 30, 2021, 02:57:17 AM

It is difficult to determine the fixed value of bitcoin, I heard bitcoin in 2012 when the current price was around $110, because the community continues to increase it makes the need and transactions increase so that its value continues to increase, of course the value of bitcoin is very much determined by the community and the good news is that many millionaires in the world are invest bitcoin.

Yes definitely, it was difficult to determine the fixed value of bitcoin. Bitcoin derives its value from a variety of different attributes. Ultimately, both crypto and fiat currencies have value because of trust. As long as society believes in the fiat system, money will continue to have value. We can say the same for Bitcoin, it has value because users believe it does, but there is more to consider. Unlike fiat, Bitcoin has no central bank, and its decentralized structure allowed for the creation of a unique financial system. Blockchain technology offers a great deal of security, utility, and other benefits that's why people choose to invest Bitcoin and has this good value.

in addition to trust, I think the legality of the government also determines for the future of bitcoin whether it can be used as legal tender, or only as an investment tool. Likewise, fiat is currently able to gain the full trust of all people because it has been determined by the government. Until now, bitcoin is decentralized which is still difficult for the government to accept because it cannot be controlled

GeorgeJohn

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That is the reason we have to know that bitcoin speculation is the normal nature, and if the price fails to fluctuates that means that is every tendency that is been controlled by any sector or it's a centralized currency, I'm not going against the rotations of bitcoin price falling and rising kind of movement.

Some elements of people was emphasising that since bitcoin have secured the length reaching to sixty thousand and sixt one thousand to sixty three thousand (60k -61k -63k) that is obvious or their is every tendency that the price will keep on accelerating until it hit one hundred thousand (100k), i was like watching, because the price of bitcoin is not something we can predict accurately and base on the prediction, bitcoin increment is determine through the quantities of the market demand.

LUCKMCFLY

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Quote from: Kimonoe on October 24, 2021, 11:30:39 AM

a lot of investor confidence about the future of bitcoin, where the few people who still use it make investors believe that later when more and more people use it the price will soar. the advantage of bitcoin having high volatility, is to attract new investors to join, and if seen, bitcoin will always form a new ath, and this is what makes many investors optimistic

YES, you are partly right because of the confidence that many bet on Bitcoin, but I think that the main reason lies deep down and is the Law of Supply and Demand, many people are currently entering the world to trade and invest in BTC, Even on Wall Street, BTC is already considered, and this is something that is not new, in fact recently, BTC has taken pleasant bullish turns for investors and those who have bought BTC, new investors and new institutions have much more liquidity. joined the party.

If we take into account what previously moved the market was its own Strong Hands, now people with a lot of money are entering with the ability to move the BTC at very high price levels, and they cause emotions in people, which is another of the main reasons why the market will never stop fluctuating.

iv4n

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Quote from: bitzizzix on October 27, 2021, 10:26:12 AM

It is undeniable that the price of bitcoin is determined by supply and demand and its popularity is proof that new users continue to grow which makes demand continue to increase which makes bitcoin prices continue to rise and is also very valuable.
and I think bitcoin will be more valuable in the future because everyone is aware that bitcoin prices are easy to predict because they see developments that continue to grow and increase from time to time which will increase bitcoin prices due to demand, and bitcoin volatility can be easily understood from time to time.

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!

SmokerFace

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In my opinion, bitcoin has become more trending in the digitalized world. Being a decentralized digital currency and having no central bank reaching a level of 60K from 30K and vice versa totally depends upon the buying and selling trend of users. It's not a big deal why this manoeuvre isn't causing the instability of bitcoin. Yes, we can definitely say that bitcoin isn't speculated and all of these prices are just natural.

Lubang Bawah

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It is difficult to determine the fixed value of bitcoin, I heard bitcoin in 2012 when the current price was around $110, because the community continues to increase it makes the need and transactions increase so that its value continues to increase, of course the value of bitcoin is very much determined by the community and the good news is that many millionaires in the world are invest bitcoin.

terrorJR

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Quote from: lenovop-70 on October 26, 2021, 12:02:48 PM

I think the increase of Bitcoin price nowaday is natural, because everyone needs it as a means of digital investment. Also because of limited supply, people are competing to get it, that's why the price of Bitcoin soars, because of the imbalance between demand and supply itself.
Maybe at some point later the price of Bitcoin will be stable and not move, IMHO, we'll just have to wait.

on the other hand the increase in adoption is increasing again and again over time.
because it is as you said that we live now in an era of modernization where all use sophisticated technology.
and here bitcoin is one of the breakthroughs that can be considered quite perfect in technology that makes him in demand over time.

Silberman

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Quote from: darewaller on October 26, 2021, 11:42:04 AM

Quote from: 24Kt on October 26, 2021, 09:06:47 AM

As bitcoin is getting popular and seemingly increasing in adoption, that means the demand is increasing, and the supply is not changing as it is fixed. Hence, the price will eventually increase if there is a demand from the market.

Being popular alone will not be enough to attain higher value; just think about a situation like bitcoin is having unlimited supply and there is no halving event, what would have happened? Probably bitcoin might be trading under $100 by this time as no one would bother it for investment purposes but might be a popular one to get rid off paypal or any other problematic payment processors.

So, bitcoin has this value all because of limited supply. Halving is acting like a trigger or remainder to investors.

At the same time, we cannot ignore the solutions provided by bitcoin to this world. A privacy oriented regulation free financial freedom is something new that human race never before experienced. So, the current value of bitcoin is just a token of appreciation to it for the solutions it has provided to us.

Exactly, while bitcoin could still be valuable if it had an unlimited supply one of the reasons bitcoin is so valuable is its limited supply, this is why satoshi is considered by many to be many people at once as it is difficult to believe that a person could master so many fields during their lifetime, personally I prefer to think that satoshi was that smart and that will make him a genius as the fundamentals of bitcoin are incredibly strong thanks to his knowledge about the economy.

impulse709

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BTC has surprised me with many different ATHs this makes the news about BTC getting better and better and the number of investors who know about it is increasing day by day.BTC is becoming more and more popular. So scarce with a total supply of only 21 million now, the source of demand for buying more than selling has helped make BTC valuable as it is today. and over the years BTC has been in a pretty good position, the FUD news about BTC bubble has been less and more big investors are paying attention to BTC, in the future many analysts will judge I think BTC will reach the threshold of 100k$ by 2022.

Natalim

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Quote from: molsewid on October 27, 2021, 08:36:26 AM

Quote from: justdimin on October 26, 2021, 03:18:04 PM

Personally, I think everything that has value is because people thinks that it has value. That’s just it, if people don’t think that something has value then it is not going to have any value at all. Bitcoin serves a purpose which is transaction, so that’s why people believes that it is useful for them and therefore it has a value: for it to serve that purpose of transaction it needs to have a value, a price.

At first the value of Bitcoin is said to be determined by supply and demand, and I believe that still plays a role in determining the value this time around, but as time goes on I think there have been some changes as well that applies to that. A search on Google can bring up a lot of articles that we have deep explanation for this I believe.

Actually we are the reason why bitcoin has a value, I mean we the community of bitcoin that believes in it sets a value of this crypto. Bitcoin on a creator's purpose is to make people another way of payment that can be processed via online transactions, alternative payment system but as time goes by people see the true value of bitcoin, the potential to monetize it and exchange to fiat currency and that's why it started here. Now, bitcoin become more valuable and everyone were very optimistic for a good future usage of bitcoin.

As bitcoin's real utility case continue to expand, its community's demand too rises up more. So this has made bitcoin reach another good value because there are already such big countries and institutions who adopt bitcoin as part of the payment system. And while others have come to use it to buy goods and services, some also focus on bitcoin as a potential investment. With bitcoin having good population as a currency or as an investment, then its not surprising anyway why bitcoin has reached this far and end up with a high value.

Viscore

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Quote from: bitzizzix on October 27, 2021, 10:26:12 AM

It is undeniable that the price of bitcoin is determined by supply and demand and its popularity is proof that new users continue to grow which makes demand continue to increase which makes bitcoin prices continue to rise and is also very valuable.
and I think bitcoin will be more valuable in the future because everyone is aware that bitcoin prices are easy to predict because they see developments that continue to grow and increase from time to time which will increase bitcoin prices due to demand, and bitcoin volatility can be easily understood from time to time.

Bitcoin has this increasing high value because most of the people are already going into bitcoin investment now compared to fiat since there is more profits awaits in crypto or bitcoin. And as its recognition never stops so its demand keeps growing too which means the higher the demand, the bigger value bitcoin becomes. And not to mention its nature as being highly volatile, so there will be more chances that bitcoin price will vary from time to time. There are times that bitcoin could go up so much and in the next day, it dumps so deep.

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