What gives Bitcoin its value? - page 5.

aleksnutis

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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.

Bitcoin is growing due to the influx of new customers.
The value of bitcoin is determined by its use for the purchase of altcoyins. 95% of altcoyins are bought through bitcoin.

Doge dealer

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demand and supply is what drives the value of any item , demand is driven by the advantages that bitcoins posses, so simply put to answer that question just look at the advantages that it brings to the table.

Sakibhasan.bd

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This is an importent subjest.
I don't know the excet reason that what gives Bitcoin value. But i think there include many reason to value of bitcoin. those are....
1: Mining
2: Tradeung
3: Investment etc.

MainIbem

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The reason for bitcoin value is mixed.

1. Value as a result of Blockchain Technology. The importance of the blockchain is the big reason for bitcoin value. Bitcoin being the vehicle upon which the technology is driven.

2. Speculative use. Because of the limited volume of bitcoin and the rising acceptance of the blockchain, it has created a whole lot of speculation. Due to the speculative activities, there is rush to be a part of the bounty so the price goes up.

damrianto

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every change in the bitcoin is determined by the world financial market so any value of all results and the amount that occurs when the transaction is rated by the bitcoin itself. and this is all enjoyed by us all. why the value is due to the comparison.

amzadabir

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I llike bitcoin.Like gold, Bitcoin is also scarce: its supply is limited. There are currently just over 16.2m Bitcoin in circulation and the maximum that will ever exist is capped at 21 million. This set cap is well known, making its scarcity transparent.
However, to have value, Bitcoin must also be useful. Bitcoin creates utility in a number of ways.
Like gold, Bitcoin is perfectly fungible (one Bitcoin is similar to another), it is divisible (you can pay someone a small fraction of Bitcoin, should you want to) and easily verifiable (via the Blockchain).

Geoll29

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Bitcoin's value is that it's a currency and we can use it to buy things that we need. Even expensive things. At the same time we are earning from it and it's possible to make us wealthy in the future. We may have known bitcoin for a long time now but there are still lots of people who have no idea what bitcoin is. Imagine if they have known bitcoin now. This will be a huge income for everybody.

colmenajose

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The value of bitcoin is in its popularity, security, and the high increase in its value, which makes it highly attractive to any investor. Wink

Nkan25

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A store of value, transfer of wealth, anoniminty and its decentralized idea. The technology challenges commodities like minerals and is clearly superior to fiat.

ElegantCy

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Bitcoin gets it's value from the fact that:

1. It offers an efficient means of transferring money over the internet
2. It gains legitimacy, larger scale investors, and more adoption
3. It's value is largely driven by speculative interest.
4. It has small circulating supply.

Fire316

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A driving factor that gives value to bitcoin are the people / community that always believe and reacting positively to the innovations tecthnology of bitcoin. The demand and supply that always the basis of price value to f bitcoin. The media which is bitcoin in either a positive or negative way can have influence on the public perceptions of bitcoin and can influence the price. The investors that can manipulate/inadvertently affect the price. And ofcourse bitcoin value also perceived regards for its benefits and usefulness.

klebsiella

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In economics, if something is both scarce and useful, it must have a value. Same with Bitcoin, its is scarce because it has a limited supply and it is a utility of it can be used in number of ways like payments and for investments. When something is considered scarce and utility it becomes expensive, it will demand value and price. Bitcoin's price is determined by the market where it trades, based on supply and demand. The interaction between buyers and sellers determines the specific price. But the price changes often because of its volatility.

malia tring

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I think what gives bitcoin value or determine the price of a bitcoin is because a lot of the enthusiasts of bitcoin which is very like the kind of digital currency bitcoin,and that greatly affects the value of bitcoin is because at least the total supple of bitcoin in this world,or the total supple of bitcoin is limited.

btcprospecter

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The long and short of what gives bitcoin value is the supply and demand. Like we saw in the tail end of last year bitcoin was all over the media and there was a surge in value as every one was wanting a part of the profits people were making, mainly early adopters.
I think more see bitcoin as an investment more so than a currency. We also have to see where companies accept bitcoin as a payment they are also seeing that as an investment and the payment they get for that product will increase in value too.

Kate Beckett

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Bitcoin is a decentralized crypto currency, it is not tied to the economy of any country. Its price is determined by the market principle - through supply and demand. Here are the factors that determine the value of Bitcoin: Bitcoin mining requires powerful and expensive installations, Over time, the Bitcoin mining process becomes more complicated. The miners spend even more money and resources to receive a reward for closing the block. Bitcoins are traded for real currency (fiat) and has exchange value.

cynical

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Bitcoin gets its value firstly from what it offers and It offers many things,

* A means of storing a degree of wealth which is not readily traceable by banks.
This has many advantages a few I have outlined as follows.
if in a time of economic or financial crisis banks decide they cannot make your FIAT funds available to you what can we do,
we are powerless. As soon as we hand over our FIAT to banks we are at their mercy.
Another advantage is that because bitcoin and crypto are not traceable if we get into personal financial difficulty and have to declare our assets,
our digital assets cannot be traced so we dont have to declare them.

* A peer-to-peer payment system without the need of any bank.
we control our digital funds and do not need to TRUST banks with our funds.

Secondly Bitcoin gets its value from the people who can see the benefit of what I outlined above as well as its potential future value,
speculation I suppose we can call it. So the buying and selling of Bitcoin currency also adds to its value.
We speculate on many things in our lives so this is nothing negative.

boakyei

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The value of bitcoins depend on mining difficulties and miners behavior. The demand and supply of bitcoins is also a factor, and the regulators, bankers and governments posture toward bitcoins all determines the value of bitcoins.

nikita_01

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There is not much you need for currency other then its total issuance is publicly known (i.e. limited edition) , and you can split it up easily. And, of course, it should itself not be an extra source of transaction costs, negating the whole premise. What’s important to note is this, nothing “gives” currency value.

“Backed” by gold or the treasury boils down to ensuring the limited edition part is held up for fiat currencies. Gold inherits scarcity (not value) from mining rates, treasury from laws, bitcoin from maths. Melting value did not “give” currency value, the ECB does not “give” the euro value. Limiting and advertising the (growth rate) of total issuance enables more valuable trades. In a sense, a gold coin, the US dollar, the bitcoin, and all other thinkable currencies are “backed” by additional intersubjective trading opportunities.

kiver

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best thing about bitcoin that it was here first as a crypto currency so no coin can replace that bitcoin value based on many things but i think the most important thing about bitcoin value is the world wide use, what i mean is the adoption is what's giving its value bitcoin is getting accepted from companies and big traders every day now last time i heard that KFC accepting bitcoin and even Microsoft getting back on the decision it make last month was great
the point is if you want a coin to gain a value try to make it do what is meant for

pentol86

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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

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