Topic: what make bitcoin valuable/crypto -- deep explanation -- compare to all other (Read 293 times)

Another value of the bitcoin could be the mining. We spent electrict to mine bitcoins, mining helps to solve the password. So, actually it has some background, maybe a dependent value for bitcoin. A hidden value of it can be the freedom that it offers. I think this is one of the most important value of bitcoin. It makes you feel that you are totally free, this can't be evaluated.

I do hope you are right in saying that soon the supply of bitcoin in the exchanges will lessen when people begin to use bitcoin as a form of payment.But it will take a very long time to happen since if we look at the addresses of people we can still see a single address containing 100k$ and more. But I am hoping to see that one day bitcoin will really be used as a form of payment and the masses will welcome bitcoin wholeheartedly. But sadly we need to wait and work out bitcoin so we can reach that dream.

Bitcoin has value due to the same reason the paper and digital cash does – it's a handy form of money commonly accepted by people. It is used to transfer value and buy or sell things.To make money from it there are simple ways, like all other currencies around. Sell goods or services and get paid in Bitcoin has value due to the same reason the paper and digital cash does – it's a handy form of money commonly accepted by people. It is used to transfer value and buy or sell things.

right this is the main value of peer to peer money or call it bitcoin.

op just forget to say this is why its dosen't need to be backed by any thing like gold and diamonds and other bullshit because it has its own huge values like op mention,he  just didn't mention the most important fact! that crypto dont need to backed by something that have value like gold or diamonds, or other things because its have its own values.

crypto that backed by something its scam.

why the fiat money need to be backed its because its dont have real any value from economical point of view and ask expert, and even much more worse then to have value because it have unlimited supply and only growing by governments and criminals that print fiat money.

you wrong there is mathematical equation to see that bitcoin supply is so small relative to gold and diamonds.

this is the main points op is right .

and this is why crypto dont need to be backed by anything because it has its own huge values like op mention:

--its peer to peer
--its cash and store of value compare to gold/diamonds which is only store of value.
--its has so huge low supply compare to precious metal there is equation to see this huge difference , this equation used for other interesting things.
--from security point of view its much more secure then centralized money.

i didnt get your point but this is the main point of crypto.

and why fiat money need to be backed by something like gold because it has no value and have huge middle chain like banks,paypal and other big companies, and even worse

its have unlimited supply because its printed non stop by governments and criminals, the supply only grow ask someone in economics and this is why smart people store value in diamonds and gold and other things.

crypto coin that backed by gold or other things is scam because its not need to be backed by anything its have its own huge values, to much.

op forget to mention this...

I am not sure these are the main points. Starting with #2, Bitcoin is has limited supply, that's true, but how do you compare it with gold or diamonds? After all, Bitcoin is divisible into Satoshis, and it's not like you can determine what's more scarce by weighing it in this situation. As for #1, while it's true that this was the whole point of Bitcoin, it's not what we actually see in practice. Wallet providers are in a way intermediaries as well, not to mention the exchanges. It's decentralized, true, and perhaps it reduces the amount of intermediaries, but the way we, the majority, use Bitcoin, is still not without someone in the middle.

very great explanation but you forget to say that this is the reason why crypto dont need to backed by anything, its backed by all this values.

this is why people should to stay away from crypto that backed by gold .. diamonds .. and other shit.

the fiat money dosen't have this values and even worse the supply is unlimited and printed by governments and criminals which why over time all of them lose value and have long middle man chain and other shit, THIS IS WHY IT NEED TO BE BACKED BY GOLD.

Except the manipulation, Bitcoin price is given by offer and demand.

If hype for many alts decreased over time, Bitcoin's popularity remained constant and even increased during the last 10 years.

I think you are overplaying it's “usefulness” towards its contribution to BTC's value. Because still at the present date Bitcoin as a payment method is hardly seen on any establishment especially when you are living on a country who isn't crypto friendly. Its use as a currency plays very little towards its price increase as demand, FOMO, and whales pumping it is the main reason why it is increaaing.

true mate but this is what i wrote


and another factor is store of value + cash compare to gold/diamond which is most of the time store of value ,,,yet they need to convert it back to some other value that accepeted everywhere in order to buy whatever they want hence the selling rate always will grow in some sort of lev3l compare to crypto only low supply which is cash and store of value.

mate the selling rate is what hurt the value of bitcoin and its very very soon going to fall drastically because we can buy almost anything with it and people will not convert it to paper money,,,end story

so simple....

and this effect will surge the price without even demand grew...

compare to gold/diamonds which always the selling rate will grow because it must to be convereted as it pure store of value and you cannot buy with it.

another thing the supply of bitcoin and other low supply coins are much more less then gold/diamonds reltaive* look for equation that show the difference in %

you wanna go more deeper the rabit hole to medium and complex things because its kids stuff and far away from the ball park

Bitcoin's value depends on lot of factors. Let me point out few for you!

1. Production cost (ready reckoner value)
2. Usability (peer to peer transactions)
3. Anonymous (ability to hold your own money without any intermediary)
4. Limited supply

I believe these 4 are the major factors due to which Bitcoin is considered as a store of value. There are people who says bitcoin is just a bubble. But that's ok because criticisms and competitions always makes the opponent stronger!

Bitcoin has various different reasons for its use, and that's what brings it value. Its not just the fact that you control your own money that is the driving factor to Bitcoins price its multiple factors that make it a good investment. A large portion of investors are exactly that, they'll invest in the instability of the value, and cash out into fiat currencies, and are thus using Bitcoin as a dip in and out investment rather than a alternative currency like the minority here.

1. the main' value of bitcoin is it peer to peer and put out the middle man like banks/governmnets/paypal and bunch other from the chain,
and we can send and receive money directly... this kind of tech bring huge value to human kind relative* because everything is relative and peer to peer money(denetralized tech) have huge value compare to cenetralized money eco system.

2. bitcoin and other low supply crypto is store of value like gold and diamonds but have much more less supply, and compare to gold and diamonds which is must to convert to some other value(fiat cash) in order to buy clothes,cars,houses and other which mean the selling rate of gold and diamond always will grow in some sort of level because its store of value and not accepeted as cash anywhere...

selling rate == this is what make market movements in crypto , which mean if the selling rate is high so *x* lose value.

now bitcoin/crypto (low supply) its store of value like gold/diamonds and cash in the same time which mean soon the selling rate of crytpo will fall drastically because it will accepeted everywhere and people will not convert crypto to paper money they will buy directly and this kind of effect when the selling rate fall because of adaption its surge the price per coin without even demand grow, simple because selling rate fell

bitcoin/crypto == store of value + cash

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