Topic: What makes Bitcoin valuable? - page 36. (Read 2956 times)

the advantages above show things that are hated by capitalist, so many try to kill btc because of it. a more promising market and higher exchange rates than the country's currency

It makes valuable because  it helps us a lot and everything that life has to offer bitcoin is the answer

value comes from the basic rule of demand and supply .....bitcoins unlike fiat money is not universally accepted or limited in what it can be used for , however bitcoins it is still used as a store of value and can be exchanged for goods and services.even though it lacks any official government backing or wide acceptance an ecosystem exist in which you find persons who are trading and dealing in bitcoins.infact the acceptance is increasing daily as it has become a means of effecting cross border payments easily and seamlessly without the need for any bank or financial institution.also the bitcoins are limited in terms of the maximum amount that can exist and this prevents devaluation through inflation.bitcoins is decentralized and as such its perfect for transactions that would be banned by financial institutions and banks.In short bitcoins is valuable because of its unique abilities , its decentralized, its limited in supply and is censorship resistant.

Digital currency has strengths and weaknesses. The benefits include the universal nature of the currency, meaning there is no exchange rate, and the decentralized aspect of it means the currency is always working for its holder. The limitations include fluctuating value and lack of acceptance among general markets.

Bitcoin is considered very valuable because decentralized is true. There are also some countries that have been taxed on bitcoin.

Bitcoin is both a payment system and a currency.

The birth of BTC, traditional bank transfer has been changed.

People can transfer money through BTC! BTC is also a kind of digital currency!

Bitcoin is considered very valuable because it is decentralized. Since it is not taxed in some countries and away from the government, the demand for bitcoin greatly increases, so the bitcoin value increases.

For me Bitcoin is valuable by its possibilities that it give to the people. This is a freedom which represented by speed, anonymity and absence of restrictions. These are the reasons to love Bitcoin.

People have realized that bitcoin is easier to earn. You don't sweet on it before you earn it, that is, there are no physical exhaustion of strength before you acquire even enough of it. You just need an internet enabled phone thats all and all is done, from having a wallet to the rest.  It is also decentralized and has high value in price.

Thank you for this Sir. It might be some help in the future if someone asks me how can I tell its strength.

1. It is safe. I think it was proven with hackathon events.
2. Hmm. Cuts from companies then to another, bloating the fees. Yes. That was a good one.
3. Yes I do agree. Way faster than WU.
4. Privacy? Hmm, when it is bitcoin to same. Having a hard time with this now.
5. Okay that was a good one again.
6. Yes, just confusion was made because of the use of the name "bitcoin" by other cryptocurrencies.
7. Singularity? Am I correct?

 

Whenever people tell me that bitcoin is scam or at least fishy if not, I tell them that they don't understand the nature of money especially with current monetary system. What they subconsciously thought is that their digit in their bank account is something edible. And I also talk about the double spending trouble and security vulnerabilities with the digits in their bank because of the presence of central authority. I think, somehow, they are convinced.

This has a simple answer bitcoin is popular it's earnings has made it more popular over th years but what makes it truely valuable is it's limited supply and increasing demand that makes it's value rise so well than the initial price it was before.

There are several reasons why bitcoin is valuable and why many people are patronizing it. It has advantages over the traditional fiat money. It is not under the control of central government banks. There are times or seasons when its price goes really high. You can earn an income through bitcoin. It is a good investment.  It has a good blockchain technology. There is a future for bitcoin.

There are many reasons that justify the value of bitcoin, among others we can highlight: its security, speed of transactions, valuation over time and its ability to make international payments, without having to go to a house of exchange.

i think it is because the bitcoin value has a limited supply.
and has a huge demands around the world.
That makes the bitcoin value very high.

BTC is valuable, because it is valuable, the same reason anything else is. Something is worth what someone is willing to give / trade you for it.

Because bitcoin is always on the top of the crypto currency, and bitcoin has a limited supply.
bitcoin is too valuable because bitcoin has a bright future.

banks generally hedge against their own stupidity with insurance and will, for the most part, make clients whole if they mess up. Whereas with bitcoin you are in charge of your own actions, which the vast majority of users like, but that means that you bear all the responsibility for any mistakes. there is a cap set of the total bitcoins which limits how much currency can devalue through inflation. It acts as an equity investment where the market value has wild swings in value and even a market cap.

The decentralised concept of bitcoin make it more valuable than other altcoin. Even though fluctuations in the price of bitcoin,the bitcoin is always on the top of the Crypto currency chart table.This is possible by the decentralised concept only.

Fundamentally, 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. Currencies have always been useful tools to make trade easier, enabling holders to convert goods into a widely tradable commodity through sale, then use the proceeds of that sale to purchase nearly anything they wish.

While fiat currencies derive value from the governments that back them, currencies like gold are valuable in and of themselves. Currently, bitcoin isn’t like other currencies in that it is not universally accepted. There are limits on what it can be used for. While not backed by a government or valuable by themselves, bitcoins are still used as a store of value, a placeholder for the goods and services that they can be exchanged for, as with traditional currencies.

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. In fact, some perceive bitcoin to be more valuable, or more useful, than other currencies in that it is a better option for certain purposes, such as seamless digital transfers and use across borders. Also, because there is a cap set on the total number of bitcoins that will ever exist, the currency cannot be devalued through inflation as others can. Finally, a key benefit of bitcoin is known as “censorship resistance,” its ability to be used for transactions that could normally be censored by other payment networks.

So, in short, the answers to the question of what makes bitcoin valuable are some of the things that make every currency valuable and some that make bitcoin different from others.