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Topic: What do you Think the True Value of Bitcoin Is? - page 8. (Read 2291 times)

hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
I think no one will know how much the real value of bitcoin because bitcoin price until now still changing from the lower price to the higher price. the price of bitcoin will always change in the future and maybe it will not only just $6000 or more but it will change for more than just $10k price per 1 bitcoin. but the real value of bitcoin will be too expensive in the future because bitcoin itself still grows. but we can calculate how much the price will reach if suddenly the price is up or down and all information from franky1 is made sense.
member
Activity: 400
Merit: 59
Bitcoin is volatile in nature,price rapidly changed because of some factors affecting on it specially the demand and supply. But the True Value of bitcoin is not just base on the equivalent amount of it in dollar or fiat currency. The true value of bitcoin can be seen in it's usefulness as a digital currency in terms of investment and payments for goods and services.

Very well said. The value really depends on its function, becuase we are assuming that the value of bitcoin is somewhat related with fiat currency which may seems that tge capability of bitcoin was compared to fiat currency. And as a matter of fact other currency also depends its value on how it functions, and the bitcoin is like that too, as people continues using it is useful. To sum it up, as long as bitcoin satisfies people it is ba valuable.
newbie
Activity: 33
Merit: 0
 the true value of bitcoin cannot identify easily, because it has constant changing.  maybe this month is to low but in the next 5 months it will rise again. it is like business,  its always going up or giing down.  its a matter of time and costumers or users.
newbie
Activity: 28
Merit: 0
Anything can have value as long as we assign value to it. We decided to use money as a medium of exchange instead of barter system because it was much simpler, you have cash, you buy anything you want, to get cash you sell something.

Anyone can make a cryptocurrency, in fact it takes about 10 minutes to create a cryptocurrency, simply fork the source code, rename, put the blockchain out there and start mining. Why then do some cryptocurrencies get value and others die? Its because we decide to put value to some and not others. If people stop using bitcoin today, it will definitely go down to zero. Its because many people have agreed to use bitcoin as a medium of exchange that’s why it has value, the more people use it the more value it has.

newbie
Activity: 19
Merit: 0
 Simply put, Bitcoins hold value because they can be used as money. Just like any other currency, Bitcoin value is greatly influenced by who uses the currency, how many users are using the currency, and how much of the specific currency is in circulation.
 But unlike traditional fiat currencies, Bitcoins are not susceptible to the value of gold or silver, or authorities who decide how much money to print. Bitcoins are a product of pure mathematics and raw algorithmic calculations, and are only influenced by the amount of trust that its users put into the currency and how well it adapts to being used worldwide.
 The merchants, business startups, and users determine the value of Bitcoin by choosing to use Bitcoin over other currencies. Simply put, the more people who choose to use Bitcoin as a form of payment, the greater the value of each Bitcoin will be.
newbie
Activity: 32
Merit: 0
That is why many people come to the cryptographic market, who do not know much about encryption world and blockchain technology. Like any other market, even in the crypto market, bitcoin prices depend on the demand and supply for bitcoin. The value of Bitcoin is dependent on demand, so it is reasonable to expect Bitcoin to be a good price. Therefore, bitcoin needs a new breakthrough to attract new investors to enhance the value of bitcoin.
newbie
Activity: 80
Merit: 0
The application and positive thoughts that people develop when bitcoin gives it a value. Yes, there are a limited number of Bitcoins in the world. Bitcoins will be much more valuable to people if they can actually use it to buy more products and services. If gold is decentralized, I'm not sure whether there are many people investing or not. I think that's why it's important that we spread the word about btc. Who thinks bitcoin will reach $ 20,000 last year? When bitcoin starts to fall, they just leave the market as panicked sellers like any other market even in the crypto market, bitcoin prices depend on demand and supply for bitcoin.
full member
Activity: 336
Merit: 100
Its value could be infinite. If it survives infinitely  Cool
Yes I do agree with you, because it constantly fluctuating, and we cannot anticipate it in precise value in the future, It matters on the supply and demand in the market.
sr. member
Activity: 978
Merit: 250
The true value of Bitcoin for me is not just a medium for payment but it is created to make the life of every people in their financial transactions easy, faster, secure, and anonymous. Bitcoin is a very valuable currency. It is not just a simple digit because it has a value that really benefits us.
newbie
Activity: 77
Merit: 0
I think this is the current average. Its decentralization aspect is quite robust when it comes to this kind of topic though. The value of Bitcoin depends on the demand, so it is reasonable to expect Bitcoin to be a good price.
jr. member
Activity: 238
Merit: 4
It would be hard to tell the real price since bitcoin is always able to change its value according to the ratio between supply and demand. But considering the average use or the most common bottom for now I think it is around 6000$. This I think it is the average for now.
newbie
Activity: 78
Merit: 0
The true value of bitcoin is how it could help us to have a better living and to have a good future and on how we use it as an asset,investment or as payment method. Because bitcoin is a digital currency that we can use for investment to earn and make a savings for the future.
legendary
Activity: 1414
Merit: 1039
To me bitcoin is a valuable asset, I don't know how to value it. I consider it same as the human body which cannot be calibrated in terms of USD or with other fiat until the person himself agrees for certain amount for each part. It is all about the adoption and the positive thoughts that people develop upon bitcoin which gives it a value.

I think a decent way to measure the true value of Bitcoin is by its growing applicability in modern society. Yes, there are a limited number of Bitcoins in the world. However, its long-term survivability will be determined by how useful it is to consumers in the global economy. Bitcoin will be a lot more valuable to people if they can actually use it to purchase lots of products and services. The decentralized aspect of it really is pretty powerful when it comes to this kind of topic though. If gold was decentralized, I'm not sure if many people would invest. I've seen more often than not, people are scared to invest in something they don't know about (which is smart). I think that's why it's important that we spread the word about btc.
legendary
Activity: 4410
Merit: 4766
you actually can calculate VALUE

imagine you had the $7500 PRICE.. and then split it up into segments.
by comparing different factors, events, you can get a pretty good idea of measuring different factors and putting a value attached to it.

imagine every feature, benefit, function, ability as a separate entity.
you can look at 1643 other coins out there. and look at the majority of coins that have the same element. and meaure its values

EG PoW is easy to measure. and across all the 541 coins that use PoW. that measure shows a pattern.. you then deduct that value away from those coins.
EG yesterdays hashrate went upto 45exa, compared to last weks average of 38.
meaining yesterdays cost of mining was ~$6950 as oppose to last wks average of ~$5850.. which when then looking at the PRICE chart you can see on average there is an extra $400 average of other features, benefits and speculation that make up the difference betwen bottomline cost vs price

whats best to do is take the stats of days when the PRICE is at its lowest for a period. as thats the times of less speculative emotion and leaving only the "Valued" elements where people refuse to sell below.

lets take the 29th june. the average hashrate was 35exa ($5400 mining cost) and the average price was at the periods rock bottom of ~$5800

so knowing theres no big positive hyp news, emotion, speculation. you can then equate the $400 to be certain feature/utility attributes
now out of the 541 PoW coins you can then look at how many coins have a 10 minute blocktime for instance and then see if there is a noticable pattern to "value" comparing it to other PoW coins that have less blocktime or more blocktime compared to other coins of near similar other features
you can then quantify that.
then you can take the coins/block... or total end supply target and find other coins with the same.. and quantify that.

then once you have that. you can see the layers.

whats left over is the more volatile temporary emotional elements that can change at a moment notice. like the emotion around something being promoted heavily one wek but then not heavily for day/months. these more emotional temporary events are the speculation EG december was very very speculative

i have made a chart.


remmber
the yellow area is emotional stuff.. of hope, hype and belief..
the orange area is features stuff.. of value of tx/s.. blocktime, total eventual coin supply, etc..
th blue area is cost of mining

i have kinda worked out, based on data of other coins of similar features. and ignoring the speculative hypes.. that FEATURES are worth about 7% of mining cost. ontop

what you will also notice(if you looked at all the same hidden data) is that the while hashrates continued to rise, cost of mining began to drop at the start of the year where a new batch of CHEAPER miners (the now $850 s9i) replaced the old ($2k s9 miners).. (yea i know the cheaper batches were not PUBLICLY released months ago but at that point the main pools did get their hands on early releases and the pools/manufacturers did actually lower the prices of the old batch to sell them off.
this is why as of january although hashrate rose. it did not react to a mining cost rise as that was offset by the asic unit cost decreasing over time to level it off. which is why there is a not a slope down or a sudden drop either as it took months for pools to get their hands on and re-evaluate their new costs).

anyway, enjoy
(short version. right now there is little to no emotional speculation this summer. so treat it as a good discount/low price to buy in)
data is stil a work in progress but you start to see that the price (tip of speculation and includes speculation and costs/value/feature can easily show when something is at an unsustainable HYPE and when something is at a low PRICE which should be demed as a great value time to buy before new hype/speculation or even increase of cost/value baseline

..
using chart data of blockchain.info of 18th/july/2018 breakdown
mining cost: 6898.17
features 7%: 482.87
value total: 7381.04

which if you then check th price if bitcoin on 18th july PRICE $7399
leaves only ~$18 of speculation/emotion
member
Activity: 196
Merit: 10
That is true, the price does definitely not show the exact value. We can see this through the high volatility too. However, I think it should be around 10.000 right now.
legendary
Activity: 3234
Merit: 1214
Vave.com - Crypto Casino
To me bitcoin is a valuable asset, I don't know how to value it. I consider it same as the human body which cannot be calibrated in terms of USD or with other fiat until the person himself agrees for certain amount for each part. It is all about the adoption and the positive thoughts that people develop upon bitcoin which gives it a value.
member
Activity: 242
Merit: 10
The real price of bitcoin is not 6500 dollars today, nor is it last year's 20K. I think the real price of bitcoin should be the community. If the encrypted community is constantly strong, the price of bitcoin is a meaningful real price.
member
Activity: 356
Merit: 12
I can not say how much bitcoin is worth for me right now. let's say that I believe it is simply a supply / demand relationship. counting however that it has a limited supply and that a part of bitcoins are lost and irrecoverable (for the moment) I would say that the current price (~ 7000 $) is low compared to the real value of BTC
sr. member
Activity: 658
Merit: 251
I think there is no true value of bitcoin as it's completely different from real currency and Bitcoin is still in early stages so can't even say whatever it is overvalued or undervalued. Bitcoin price is depend on supply and demand.  
jr. member
Activity: 352
Merit: 1
In my opinion,  the true value of bitcoin lies in it usefulness. If bitcoin scape through (which I believe it will) all this storm(negativity surrounding it usefulness and the high volatility of bitcoin itself)and thus widely accepted as a digital means of exchange, Then it will worth more because it demand will be on the rise.
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