The Stories on Bitcoin's Value | Bitcointalksearch.org

JamesNZ

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Quote from: EluguHcman on December 06, 2023, 01:10:00 AM

Everything is functionable according to its nature of being, programs and how it is instructed realistically portraying its potentials.
No Bitcoin users is forced in to promote Bitcoin as a precious stone you you may say @ OP, rather the role is instigated that Bitcoin functionality shall be wide spread to attain a widely range of adoptions considering it as crypto exchange for purchase between traders and merchandise.

Satoshi is a creative inventor. Imagine having a unified digital currency that can be exchanged to any form of global currency through an exchange and yet an assets to to stand against the governmental ecosystems economy.
The decentralization system of Bitcoin of its Blockchain was the best invention on matter of being self confidence to your assets and funds. That is why Bitcoin has seemed to be decentralized do each and every of its holders Is a governor to its denomination of its digital currency.

Bitcoin is an exchange currency that can afford you all that you needed to feel or touch such as the arts and whatever. That is why it is a currency for purchase.
Sometimes we just need to grow up in terminological reasoning @ OP because the sense of reasoning was too low

Nakamoto invented decentralized pyramid scheme. It attracts investors by simulating bank deposits. People buy units of the number 21 million and then falsely believe that this is just like having units in their bank accounts. The catch is of course, as explained in the OP, that the second units are redeemable by their issuers (banks), while the first are not redeemable by their issuer (Nakamoto). Which in other words mean that Bitcoin units are worthless. And that's why everyone who holds them must dumpt them on someone else. They need new investors to save them from the pyramid scheme. With stories on Bitcoin's value or importance, like yours, they try to attract as much investors as possible.

EluguHcman

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Everything is functionable according to its nature of being, programs and how it is instructed realistically portraying its potentials.
No Bitcoin users is forced in to promote Bitcoin as a precious stone you you may say @ OP, rather the role is instigated that Bitcoin functionality shall be wide spread to attain a widely range of adoptions considering it as crypto exchange for purchase between traders and merchandise.

Satoshi is a creative inventor. Imagine having a unified digital currency that can be exchanged to any form of global currency through an exchange and yet an assets to to stand against the governmental ecosystems economy.
The decentralization system of Bitcoin of its Blockchain was the best invention on matter of being self confidence to your assets and funds. That is why Bitcoin has seemed to be decentralized do each and every of its holders Is a governor to its denomination of its digital currency.

Bitcoin is an exchange currency that can afford you all that you needed to feel or touch such as the arts and whatever. That is why it is a currency for purchase.
Sometimes we just need to grow up in terminological reasoning @ OP because the sense of reasoning was too low

oktana

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Exactly what I think about the paper with numbers and photo that you call money. Let’s say you claim to have 20 Million, but isn’t it all just paper that can be burnt to ashes. I think your problem is not knowing what value means. Value is the worth/importance that something holds. With this definition, you can see that value doesn’t care about the ”something”, but its generally perceived worth/importance. It doesn’t have to be visible for it to have value, don’t act like the world just began; we’re digital! Loads of things happen online and this is one of those innovations. It doesn’t have value, yet, it can be used to buy cars, houses, etc? It doesn’t have value, but some politicians use it? The reason why Bitcoin is where it is today is because it has value. All this started from cents and see how valuable it has become; ten thousands of dollars.

pinggoki

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Quote from: Fuso.hp on December 04, 2023, 03:20:24 AM

There are many reasons why Bitcoin is so valuable to convert to a digital currency. Before Bitcoin there were many other coins in the crypto currency market but all the other coins could not get the attention of the investors and investors did not see anything special in any of the other coins that would make an investor prefer another coin. The value of Bitcoin and the popularity of Bitcoin were not like that in the beginning, if we dig through history we find some information that proves that Bitcoin was not a valuable coin to people at that time. A man paid a huge amount of bitcoins to buy just two pizzas. Imagine the position of the person who paid a large amount of BTC in exchange for two pizzas and the person who received a large amount of BTC in exchange for the pizza. At the current level of popularity of Bitcoin, in a few years its popularity may double.

Bitcoin was the 2nd I think, there's probably only 1 that was created before bitcoin so I say that you're misinformed that there are other cryptocurrency in the market because bitcoin started it all. It's not that bitcoin isn't valuable per se, during the early years of bitcoin, it just so happens that there's not a lot of people that are engaged or are in this forum so the value of bitcoin isn't that high but as time goes by and more people are trying to get in and the value of bitcoin goes from a cent to a dollar, people starts getting in because they want a piece of the action, the popularity of bitcoin is parallel to how many people have discovered bitcoin over the years not to mention that as technology and affordable computers become a thing in the year 2010 onwards, the interest in technology increases everyday so it's only natural that bitcoin will be discovered by more people.

JamesNZ

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Quote from: btc78 on December 05, 2023, 05:44:42 AM

Quote from: JamesNZ on December 05, 2023, 03:48:25 AM

Stories, stories, stories. Everybody is just telling stories.

Is there any person on Earth who doesn't want to sell their bitcoins at one time in the future?

as long as there is someone out there who wants to buy bitcoin, there will always be someone who would want to sell it especially if they can sell it for a higher price than the price they bought it for

if someone still believes in bitcoin’s value then there will always be demand bitcoin is developed in a way wherein inflation has a lesser chance of happening

Isn't it nice to ignore the point and just repeat this nonsensical crypto slogans?

aoluain

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Quote from: JamesNZ on December 03, 2023, 12:44:37 AM

Bitcoins cannot be eaten or drunk. They cannot be seen like artwork or heard like music. They cannot be used for text or image editing like computer software. They cannot be driven like a car or worn like jewelry. In short, bitcoins have no intrinsic value.

I got to this line and didnt read any further . . .

You are 100% right about what you say above!
But Bitcoin is D I F F E R E N T, its not something to be eaten or drank, Listened to, looked at, driven, worn.

Bitcoins value comes in the form of DECENTRALISED, DIGITAL, SECURE FINANCIAL ASSET, It can be bought, sold,
traded, transported across borders without any permission from a third party like a central bank, Government
or law enforcement. The Bitcoin network has never been hacked.

So lets see how you get on transporting and importing your truck load of fine vintage exotic Wine, or your rare
collection of Artwork, your Rolls-Royce La Rose Noire or Graff Diamonds Hallucination without either paying
import duty, TAX or worrying about your personal security . . .

If you are looking for intrinsic value which has a physical form then you are in the wrong forum preaching to
the wrong audience.

You should get in contact with Blackrock and Grayscale for instance and see how they will accomodate your
views because they obviously see Bitcoin as having intrinsic value as do their clients

Quote from: JamesNZ on December 05, 2023, 03:48:25 AM

Stories, stories, stories. Everybody is just telling stories.

Is there any person on Earth who doesn't want to sell their bitcoins at one time in the future? No, no such person exists. Everybody must sell their bitcoins simply because, as explained in the opening post, Nakamoto doesn't redeem them nor they are intrinsically valuable for someone to be able to satisfy their needs with them. So what is the point of all those stories about their value if everybody wants to get rid of them exactly because they know bitcoins have no value? Well, the point is simple: to lure as many suckers as possible and dump them worthless coins at as a high a price as possible.

So, please stop with this nonsense stories. At least in this topic. Just admit why you're all here and move on.

Is there anyone on Earth who doesnt want to sell their

Quote

fine vintage exotic Wine, or your rare
collection of Artwork, your Rolls-Royce La Rose Noire or Graff Diamonds Hallucination

at some time in the future . . .

You are actually confirming that BTC HAS intrinsic value . . .

Ojima-ojo

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The USA government happens to be the buggest holder of bitcoin, that is, they hold the highest number of bitcoin, and aside from them, there are several other big cooperations and entities, even individuals like Elon musk, jack Dorsey, CZ (to mention a few) that hold a good number of bitcoins, this are prominent and well influencial men and women who have made good money even before they came across bitcoin, and after studying bitcoin, they decided to invest in it because they found it worthy.

How then can you, probably some one no body knows, tell me now that bitcoin is valueless? If the US government sees bitcoin as valuable, and are stacking as much as they can through various means possible, then, I don't believe anything you have said about bitcoin being valueless, and will never believe.

Bull run is coming, buy bitcoin now and make some good profit for yourself.

btc78

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Quote from: JamesNZ on December 05, 2023, 03:48:25 AM

Stories, stories, stories. Everybody is just telling stories.

Is there any person on Earth who doesn't want to sell their bitcoins at one time in the future?

as long as there is someone out there who wants to buy bitcoin, there will always be someone who would want to sell it especially if they can sell it for a higher price than the price they bought it for

if someone still believes in bitcoin’s value then there will always be demand bitcoin is developed in a way wherein inflation has a lesser chance of happening

JamesNZ

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Stories, stories, stories. Everybody is just telling stories.

Is there any person on Earth who doesn't want to sell their bitcoins at one time in the future? No, no such person exists. Everybody must sell their bitcoins simply because, as explained in the opening post, Nakamoto doesn't redeem them nor they are intrinsically valuable for someone to be able to satisfy their needs with them. So what is the point of all those stories about their value if everybody wants to get rid of them exactly because they know bitcoins have no value? Well, the point is simple: to lure as many suckers as possible and dump them worthless coins at as a high a price as possible.

So, please stop with this nonsense stories. At least in this topic. Just admit why you're all here and move on.

serjent05

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Quote from: JamesNZ on December 03, 2023, 12:44:37 AM

You've all probably heard the stories on Bitcoin's value. Stories that portray Bitcoin not only as valuable, but precious. Stories by which buying bitcoins is one of the smartest things you can do. Well, all of that is just propaganda. A bait to lure you to buy something worthless.

People who have something to impose or promote always make use of propaganda, it is not a new term for us, even governments are making propagandas in order to keep their citizens in check. Whether Bitcoin is worthless depends on the person, since I believe that a person's junk can be another person's treasure.

Quote

Bitcoins cannot be eaten or drunk. They cannot be seen like artwork or heard like music. They cannot be used for text or image editing like computer software. They cannot be driven like a car or worn like jewelry. In short, bitcoins have no intrinsic value.

But Bitcoin can be traded to buy such things. Bitcoin can be used to exchange for cash to buy food, hire people to create artwork, and compose music. Buy a text or image editing computer software and even buy a car and property. In which point does Bitcoin not have an intrinsic value? You may not see Bitcoin to have intrinsic value but more people than you see Bitcoin have it even a certain country declares that Bitcoin is a legal tender. As we all know intrinsic value is subjective so you cannot push your argument to others whether Bitcoin has intrinsic value or not.

JoyMarsha

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Quote from: JamesNZ on December 03, 2023, 12:44:37 AM

Everyone who holds bitcoins knows that.

What you are saying is arrant nonsense and there is no truth in it. And in the same vain believe that you are way backward and lack an understanding of what digital currency is.

It will serve good and be accepted if you are to leave this digital era we are in now to live in an analog way of life because that's what fits you to keep living with.

I can't just imagine someone coming to a bitcoin forum like this to discredit bitcoin when it is a known fact that many people have benefited from it hugely in their financial lifestyle.

Sorry, I sounded blunt but I hate it when someone tries to be irrational to the known fact that Bitcoin is the best thing that has happened to humanity.

GeorgeJohn

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Quote from: 348Judah on December 04, 2023, 01:45:48 PM

Quote from: JamesNZ on December 03, 2023, 12:44:37 AM

Bitcoins cannot be eaten or drunk. They cannot be seen like artwork or heard like music. They cannot be used for text or image editing like computer software. They cannot be driven like a car or worn like jewelry. In short, bitcoins have no intrinsic value.

Bitcoin may not be used for any of these but indirectly can be used to acquire all of these you have mentioned, there are many opportunities with bitcoin and you could also use this same digital currency to acquire what you want since it's a legal means of making payments and well recognized, what money can do to make life enjoyable for us, bitcoin can do thesame or even better, it's value is always appreciable and we can use it to acquire any necessary life achievement.

Bitcoin is a digital currency I know quite well that have to do with both profit and loss and it's as form of a traditional currency, so therefore I believe that the development of bitcoin have to do with the development of any other thing, secondly their is nothing a bitcoin can not achieve or buy as traditional currency can get the stuff, many people downgrade bitcoin because they don't know the important of bitcoin, right now investing with bitcoin is even more preferable and understandable than manual business because when you know the input and output of bitcoin you ensure that you abandon other business and face bitcoin, but the problem is to know the basic concepts of bitcoin.

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Quote from: 348Judah on December 04, 2023, 01:45:48 PM

Quote from: JamesNZ on December 03, 2023, 12:44:37 AM

Bitcoins cannot be eaten or drunk. They cannot be seen like artwork or heard like music. They cannot be used for text or image editing like computer software. They cannot be driven like a car or worn like jewelry. In short, bitcoins have no intrinsic value.

Bitcoin may not be used for any of these but indirectly can be used to acquire all of these you have mentioned, there are many opportunities with bitcoin and you could also use this same digital currency to acquire what you want since it's a legal means of making payments and well recognized, what money can do to make life enjoyable for us, bitcoin can do thesame or even better, it's value is always appreciable and we can use it to acquire any necessary life achievement.

Intrinsic value is the perceived value of a particular thing and for sure demand is enough to support such things. With artwork perhaps, it is just a drawing and anyone could do it but why are some artworks has a huge value? It is because of demand; that there are people who would buy it for an amazing price simply because there are people who appreciates it. Same thing goes with Bitcoin wherein this community perceives high value of it which supports the increase on its price. It may not be having a physical value but there is a community which still generates the demand of it regardless of whether they will just ride the tide or they will use it in actual transaction. As long as there is an appreciation then there's a demand, therefore creating a value.

348Judah

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Quote from: JamesNZ on December 03, 2023, 12:44:37 AM

Bitcoins cannot be eaten or drunk. They cannot be seen like artwork or heard like music. They cannot be used for text or image editing like computer software. They cannot be driven like a car or worn like jewelry. In short, bitcoins have no intrinsic value.

Bitcoin may not be used for any of these but indirectly can be used to acquire all of these you have mentioned, there are many opportunities with bitcoin and you could also use this same digital currency to acquire what you want since it's a legal means of making payments and well recognized, what money can do to make life enjoyable for us, bitcoin can do thesame or even better, it's value is always appreciable and we can use it to acquire any necessary life achievement.

thecodebear

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OP, Bitcoin is a currency. It is scarce and useful and has benefits nothing else on earth has. And for all these reasons it is incredibly valuable. It's value proposition is pretty simple. What aren't you understanding about this?

You spent a lot of words trying to describe what Bitcoin isn't and then for some reason saying that means Bitcoin is worthless for what is isn't. But you never described what Bitcoin is. I just did. And in its description we see why Bitcoin is incredibly valuable to humanity.

JamesNZ

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Quote from: FatFork on December 04, 2023, 05:36:04 AM

Quote from: JamesNZ on December 04, 2023, 12:29:40 AM

Quote from: FatFork on December 03, 2023, 03:57:26 AM

Quote from: JamesNZ on December 03, 2023, 12:44:37 AM

If something doesn't have intrinsic value but is offered to the public, the issuer of that thing must redeem it. The thing has to have redemption value.

That is not true! What about art or collectible items? Do they have intrinsic value? Or redemption value?

It's not right to twist facts to try and make bogus arguments.

Art and collectables have intrinsic value because they can be seen and thus satisfy human needs via the sense of sight.

No. That is a flawed argument. Art has no intrinsic value just because it looks real pretty to our eyeballs. That don't work - if it did, a photo or copy of some famous paintin' would be just as good as the original. But we all know that ain't the case and plus, this logic also fails to account for other art forms, such as music or literature, whose value extends beyond sensory perception.

In fact, your interpretation of value suggests a very limited understanding of the concept, as it seems to be centered solely on your personal perspective. But that's not how the world really works. I already mentioned collectables. What gives them value according to your interpretation?

Artwork has intrinsic value because it in itself provides benefit via the sense of sight. Units of capital(shares ) or units of debt (fiat) provide benefit when issuers redeem them. Units of the number 21 million (bitcoins) do not provide benefit themselves nor their issuer Nakamoto redeems them for something to provide benefit. It's simple. It's reality.

So, try to accept reality and live in hope that you will sell your worthless numeric units at good price to the greater fool. But stop with this stories about art because they are ridiculous and dumb.

FatFork

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Quote from: JamesNZ on December 04, 2023, 12:29:40 AM

Quote from: FatFork on December 03, 2023, 03:57:26 AM

Quote from: JamesNZ on December 03, 2023, 12:44:37 AM

If something doesn't have intrinsic value but is offered to the public, the issuer of that thing must redeem it. The thing has to have redemption value.

That is not true! What about art or collectible items? Do they have intrinsic value? Or redemption value?

It's not right to twist facts to try and make bogus arguments.

Art and collectables have intrinsic value because they can be seen and thus satisfy human needs via the sense of sight.

No. That is a flawed argument. Art has no intrinsic value just because it looks real pretty to our eyeballs. That don't work - if it did, a photo or copy of some famous paintin' would be just as good as the original. But we all know that ain't the case and plus, this logic also fails to account for other art forms, such as music or literature, whose value extends beyond sensory perception.

In fact, your interpretation of value suggests a very limited understanding of the concept, as it seems to be centered solely on your personal perspective. But that's not how the world really works. I already mentioned collectables. What gives them value according to your interpretation?

Fuso.hp

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There are many reasons why Bitcoin is so valuable to convert to a digital currency. Before Bitcoin there were many other coins in the crypto currency market but all the other coins could not get the attention of the investors and investors did not see anything special in any of the other coins that would make an investor prefer another coin. The value of Bitcoin and the popularity of Bitcoin were not like that in the beginning, if we dig through history we find some information that proves that Bitcoin was not a valuable coin to people at that time. A man paid a huge amount of bitcoins to buy just two pizzas. Imagine the position of the person who paid a large amount of BTC in exchange for two pizzas and the person who received a large amount of BTC in exchange for the pizza. At the current level of popularity of Bitcoin, in a few years its popularity may double.

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Oh my...... we have one of those "intrinsic value" believers again. Roll Eyes

Those people who think a signature of some Treasurer on a piece of linen/cotton gives it value. Roll Eyes

Those people that think that something only has value, when their trusted ::)government says so.... Roll Eyes

I also want to see what he/she says the difference between the "digital" numbers on a Bank ledger or database is.... compared to the digital numbers in a Blockchain. Tongue

(Beyond the fact that the one on the centralized database are heavily manipulated and the one on the decentralized Blockchain are not) Cheesy

Wake up .... the world are changing.. Wink

JamesNZ

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Quote from: FatFork on December 03, 2023, 03:57:26 AM

Quote from: JamesNZ on December 03, 2023, 12:44:37 AM

If something doesn't have intrinsic value but is offered to the public, the issuer of that thing must redeem it. The thing has to have redemption value.

That is not true! What about art or collectible items? Do they have intrinsic value? Or redemption value?

It's not right to twist facts to try and make bogus arguments.

Art and collectables have intrinsic value because they can be seen and thus satisfy human needs via the sense of sight.

Quote from: Blitzboy on December 03, 2023, 05:09:52 AM

Bitcoin's value doesnt come from its actual features; it comes from its groundbreaking technology and the way it changes the way money works. Take a look: Bitcoin is not controlled by a single entity, which means it challenges established financial systems and provides an option to centralized banking systems. There is no one provider that needs to be redeemed; its a peer-to-peer system that doesnt need to be trusted. Your case is based on old-fashioned ways of valuing assets, without taking into account the new features of blockchain technology and digital scarcity.

Another important point that is missed in the comparison with foreign currencies and stocks is Bitcoin, like these other instruments, gets its value from the opinion and use of many people. Fiat currency is also just numbers and promises, but everyone accepts it. Bitcoin's potential lies in its ability to provide an alternative banking system that is not controlled by a single group. If we just brush it off as numbers, we miss the big effect its already had on how we think about money and value.

Value is benefit that can be provided by the issuer of an item at redemption of that item or benefit that an item itself can provide when consumed for satisfing human needs.

Blockchain technology neither redeems bitcoins(units of the number 21 million) not it is Jesus to be able to turn numeric units into consumable items.

Topic: The Stories on Bitcoin's Value (Read 396 times)