Topic: What gives Bitcoin its value? - page 3. (Read 753 times)
Bitcoin can be considered a currency but now with a big investment, it's also a serious asset that people have. Because many people use bitcoin or apply it to a field or project, the bitcoin value is almost unlimited.
bitcoin has value because it is the cryptocurrency that many peoples used from 2009, the first crypto.
many peoples already believe in bitcoin, and already gain much earnings with bitcoin.
many peoples already believe in bitcoin, and already gain much earnings with bitcoin.
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.
Bitcoin at its time of creation was just an idea, like nay other ICO project that we see today, and as this idea grew and people started supporting it and investing resources into it, i grew even bigger and its initial price started going up, and due to how it has a limited supply that price started going even more, so the supply and demand is what actually gives it its value. 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.
Perhaps bitcoin gets its value from its users and investors. There is always someone ready to buy or sell bitcoin irrespective of its price. I think that is what gives bitcoin its value, a group of consumers.
The btc differs from fiat currencies because there is no authority to fix its value. This depends only on the market and on investor confidence. This is the potential (and risk) of the btc.
Bitcoin is based on the same thing as the US Dollar... nothing except the trust of the people who use it. Not necessarily a bad thing.
I believe that the answer is very clear - BTC is just a tech adn without any demand there wont be any price.
Demand drives he price,plain and simple.
Demand drives he price,plain and simple.
The value of bitcoin is driven by the day to day use by the holders. Bitcoin is a foremost cryptocurrency and for this reason it has reached a lot of people. This has translated into a large community of enthusiasts who hold the coin jealously. Mainly, bitcoin adds more value when held for long.
Gold will always be a generally accepted means of storing value at least until bitcoin or better to say, "cryptocurrency" gains the trust of at least 70% of the general public before it can be closely compared to GOLD.
It is true that the comparison with fiat currency draws its estimated value, the markets take to a compulsion of accepting bitcoin 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...bitcoin's supply is limited and durable, digital gold and like fiat, its divisible and portable, currency, it's the potential future of bitcoin but now realistically what gives it value is its price, more of speculation, people investing expecting its price to go up, it's entirely true that currently bitcoin its value from the possibility to trade it for fiat not a realistic value.its usefulness of Bitcoin is in its properties as money, store of value, medium of exchange, and unit of account...
Don't know as I am just a newbie and know not much about the economy well and sound
Bitcoin market is like sea waves, unpredictable and unleashing, its a thrill, well for me atleast
I would admit that inspite of having large risk factor btc is actually awsome as investment stock. with high returns
Many crazy people are just thinking that btcs are costly and so might be valuable and thus it is becoming a false notion
People like gamblers are more attracted to it I think after the title GAMBLING CURRENCY
For almost the entire past century, money produced in the world was provided with gold. However, in 1971, US President Richard Nixon abolished the gold standard, thereby making the dollar an ordinary printed paper.
Honestly, investing bitcoin is like investing in gold, gems. However, the value of bitcoin is not limited. Because, the bitcoin value is expressed in usefulness and convenience with peer to peer settings and not through any intermediaries. So if many people use bitcoin or apply it to fields or projects then the value of bitcoin is almost infinite.
For me bitcoin can give its value buy converting into fiat to give people who want to grow and to help their love once.Were lucky one to have here so give thanks to bitcoin amd the cryptocurrency. 
Bitcoin is the first crypto currency in the market so we can say that it is the oldest of all crypto currencies. It is the people who keeps on investing in BTC and that sets the price of Bitcoin. It is the trust over Bitcoin that has kept Bitcoin going till now. Also, there are many factors that derive the price of BTC such as news and events in the crypto market. Bitcoin being a voaltile currency reacts very quickly to news most of which are FUDs created by panic sellers and whales.
What gives bitcoin its value is the trust and support of people. But on the other side the majority engage on bitcoin not as a currency but as an investment with a hope of getting huge profit. But what reason there is we cannot deny that those reasons have strengthened bitcoin and caused bitcoin to be where it is now. The true value of bitcoin comes from the people, without us bitcoin will be useless.
The value of bitcoin is driven by the people using it. Bitcoin is a foremost cryptocurrency and to so many people, it is the only cryptocurrency they know. This has translated into a large community of enthusiasts who hold the coin jealously. They give it value by holding it, believing that the value will continue to soar.
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