What gives Bitcoin its value? | Bitcointalksearch.org

selezneve

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Quote from: LCHY on April 22, 2018, 10:09:44 PM

What gives Bitcoin its value?

I think the people who believe Bitcoin gave value to it. Just like art pieces, it will be valuable according how much people believe in it.

People believe and used bitcoins only because it has got some unique advantages. For instance, let us compare the fees in case of bitcoin and PayPal. Bitcoins have less transaction fees as compared to other payment systems like card payments and PayPal. This is another reason behind the increasing acceptance and popularity of Bitcoins.

I heard that PayPal is going to increase its fees even more which will push the prices of bitcoins even higher.

Swanh

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Quote from: imadmirer on February 15, 2018, 09:57:36 PM

Bitcoin can certainly be considered as a currency but now with heavy investments, it is also a serious asset that people own. It is an equivalent to property or gold for that matter. With more trading and investment in this digital currency, the value is only soaring higher and higher. No doubt, we may as well see a new high in its price this year.

But what gives this invisible Bitcoin its value? It is most sought after asset now with immense money being invested. Is it the nature of it being a currency or the nature of it being an investment? The most interesting thing is that most people are gradually shifting towards the use of this decentralized currency. It is true that the comparison with fiat currency draws its estimated value. But the large investments suggest that it is going to grow only bigger and bigger in size and stature.

As BTC is becoming more and more used, the markets take to a compulsion of accepting BTC as a form of currency in exchange of the good and services. It is indeed interesting to note how Bitcoin in spite of all criticism is only proving to be that of a great success.

I can compare bitcoin to a fish,it has value because its what we need,if there were typhoons fish supply is limited fish would be very expensive if there were alot of fish catched most probably it become cheap and its affordable to buy.Bitcoin depends on the increasing and decreasing demand in the market,if people lose interest in bitcoin,it will be priceless and bitcoin will die.

monster2

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Bitcoin gives value to people who value bitcoin even though they are low in price because they rely on it.

LCHY

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What gives Bitcoin its value?

I think the people who believe Bitcoin gave value to it. Just like art pieces, it will be valuable according how much people believe in it.

devinks

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Quote from: dyablo on April 22, 2018, 08:50:15 PM

Quote from: pentol86 on February 16, 2018, 02:03:44 AM

bitcoin can be used for transaction, without a bank, keep anonymous. also bitcoin can be used for investment, but with high risk. the choice is depends from user as bitcoin holder

Bitcoin price is so volatile, and I think that is one factor that gives bitcoin its value.
It depends on the supply and demand. If the demand is higher than the supply, the price is high also. And if the supply is higher than demand, the price gets low.

indeed bitcoin fluctuate. every time the offer changes depending on the market. the price itself is never stable. but now this bitcoin value comes from the demand of people so there will be an increasingly increasing sale and purchase

hsnjtdj

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The price of Bitcoin is positively related to the number of people who receive and use Bitcoin. As more and more people are willing to make Bitcoin represent the value produced by him, Bitcoin will also become more expensive than the legal currency. Bitcoin’s influence is now in an expansion phase, and more and more people are willing to convert their created wealth into bitcoin, and at the same time cancel the legal representation of these wealth, so Bitcoin prices have been rising steadily during this expansion phase. In the early stage, Bitcoin function was mainly focused on the value reserve and value transfer.

sdshd

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The source of Bitcoin's value is the loyalty of many bitcoin who are willing to let Bitcoin represent their wealth. As the number of deadly loyal groups increases, the individuals in the group become more and more diversified, forming an ecological cycle and growth. Even if the group no longer expands, Bitcoin will not die (zero) easily. Unless the group shrinks and dies.

gohan21

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Bitcoin gives people the value because they are investors and users here so bitcoin costs.

dyablo

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Quote from: pentol86 on February 16, 2018, 02:03:44 AM

bitcoin can be used for transaction, without a bank, keep anonymous. also bitcoin can be used for investment, but with high risk. the choice is depends from user as bitcoin holder

Bitcoin price is so volatile, and I think that is one factor that gives bitcoin its value.
It depends on the supply and demand. If the demand is higher than the supply, the price is high also. And if the supply is higher than demand, the price gets low.

muyizz

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bitcoins derive their value just as anything else does: because people want them. Like any other currency, bitcoin follows the basic rules of supply and demand.

Olga1111

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Bitcoin has a large value, because the supply of coins is very limited.
If demand grows, the price of bitcoin increases even more.Like gold, Bitcoin's supply is limited and durable,the usefulness of bitcoin lies in Its properties like money, values, means of exchange and units of account.

lillyann

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Quote from: imadmirer on February 15, 2018, 09:57:36 PM

Bitcoin can certainly be considered as a currency but now with heavy investments, it is also a serious asset that people own. It is an equivalent to property or gold for that matter. With more trading and investment in this digital currency, the value is only soaring higher and higher. No doubt, we may as well see a new high in its price this year.

But what gives this invisible Bitcoin its value? It is most sought after asset now with immense money being invested. Is it the nature of it being a currency or the nature of it being an investment? The most interesting thing is that most people are gradually shifting towards the use of this decentralized currency. It is true that the comparison with fiat currency draws its estimated value. But the large investments suggest that it is going to grow only bigger and bigger in size and stature.

As BTC is becoming more and more used, the markets take to a compulsion of accepting BTC as a form of currency in exchange of the good and services. It is indeed interesting to note how Bitcoin in spite of all criticism is only proving to be that of a great success.

The general answer to the question "where does the price of bitcoin come from?" Are the basic laws governing the market: supply and demand. Determining the price of bitcoin occurs at the interface between the demand and the supply of sellers. Adapting this model to Bitcoin, it is obvious that most of the supply is controlled by early users who once bought more bitcoins and miners. Currently, many people claim that bitcoin is currently a speculative bubble. But to know if it really is, we need to know the factors shaping the price of this cryptocurrency.

fotosonics

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I think that bitcoin got its value thanks to the fact that the ancestor of crypto currency in general! This is the first coin that received such information! It is also necessary to take into account the fact that only 21.000.000 coins have been issued, which gives each coin more value!

CryptoProphet

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What gives Bitcoin its value? Only the fact that people consider it valuable, conduct exchange operations with it, something pay, and the fact that it is limited ...

daarul50

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Quote from: Fairy_90 on April 21, 2018, 02:00:49 AM

It is hard to say that the nature of Bitcoin is valid because not government accepts Bitcoin as well as you can not use it to pay your taxes. In addition, the value of Bitcoin is always associated with traditional currencies such as USD, EUR, CNY and VND. In addition, the intrinsic value of a stock is calculated by its estimated future earnings, since Bitcoin has no income so it is difficult to determine the value.
So, what will give Bitcoin become valuable not really an internal one? There will be no reason to give Bitcoin value if one can not use it as a payment method. Merchants and service providers around the world accept digital money, although most people use it by converting the currency of the country in which they live.

If bitcoin is not associated with USD, EUR, and CNY currency how can we measure or know that bitcoin has value? So is the case with gold, diamonds, oil, and other assets. Those assets must be measured in USD currency so we know the price movements of those assets in the market.

DaveWave

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It is common and general rule that when demand went up then its price will grow. This is not something new as even fiats also work like this. So when bitcoin becomes mainstream in 2020 then surely 1 bitcoin will be worth $1 million or even more. Grin

Al-e_x

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Quote from: linkybit on February 16, 2018, 12:44:04 AM

Normally its supply and demand, if there is a good news like a big country regulate the bitcoin then this news will add the value to bitcoin as more people start investing in it and this brings more demand for bitcoin.

I agree with you, and one of the factors that make high demand, is the bad condition of the world economy, as happened in south korea and in china, many companies are going to fall, so investors are looking for other assets to save their investment. and their choice is bitcoin.

Lebovsky

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Unfortunately, bitcoin is not yet a full-fledged currency, which you can perform daily operations, such as Fiat. At the moment, bitcoin is an asset with which you can make good money. And it works on the principle of gold. Its limited number causes its constant growth. Let's hope that the status of bitcoin will grow in the near future, but it is unlikely to happen so soon.

OlegK41

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Bitcoin gives value, then he is not regulated and not controlled. Still it is convenient and fast payments in comparison with banks. And of course Bitcoin is a great way to invest!

pabpete

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Quote from: boynamnhi on April 21, 2018, 02:01:10 AM

Quote from: Chopmoney on April 19, 2018, 01:53:56 PM

I believe since bitcoin has a limited supply and since demand for bitcoin is increasing there will be rise in value

I agree but worth mentioning when using its great practicality, people have the need to use it so much.

Bitcoin derives its unique value from the fact that despite its lack of official backing or wide acceptance, it has generated an ecosystem in which many people are willing to trade and accept it.

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