Topic: What makes Bitcoin valuable? - page 37. (Read 2929 times)

It's a simply answers, Bitcoin has a limited supply. And the basic economics system which is supply and demand works in BItcoin. So that is the reason why Bitcoin has a valuable price.

in my own opinion bitcoin is valuable because it gives solution in terms of financial problem and It cant be hacked because its decentralized, and also Bitcoin provides more privacy than normal transactions.

In my own opinion bitcoin makes valuable because of its high value and a lot of people considering that bitcoin is one of the solution in terms of financial needs. Aside from that bitcoin is nontaxable, uses for online payments system and easier to transact from country to another. Bitcoin cannot be hacked easier and the security stricted.

I will call you the main factors that make Bitcoin valuable. These are anonymity and the possibility to make international transactions for a very small fee. It is also a decentralized currency, which is very important.

yes, I agree with you, the 5th point is very interesting. we know that Bitcoin developed with a good currency idealism, is not controlled by the government or central bank.
The financial crisis some time ago confirms that the government is always negligent in maintaining economic stability. The government is always believed to be dominated by corrupt people and only works for personal gain, so financial decisions are always on the side of a mere conglomerate.
This concept appeals to many people to invest their assets in the form of bitcoin or crypto.

The immutability feature of Bitcoin and its current processing power(beyond supercomputer) is what makes it valuable. Those things that you have just mentioned are the obvious reasons but it helps a lot.

it is also the usage of bitcoin that makes it more valuable. Satoshi created a decentralized payment system for anyone to use without any problems or restrictions. and as bitcoin gets closer to being a real currency instead of just being for speculation, the price of it grows and that makes it more valuable.

that is why i am very excited about Lightning Network because it helps with the currency aspect of bitcoin with fast transactions and low fees. hopefully we can get cheap on chain transactions back so that LN can work better.

What bitcoin makes valueable is its capacity to make someones goal or dreams come true. Why Because many rich people now are came from using bitcoin. Bitcoin really gives a boom. Even a student can join not classifying whether your a four years graduate. Thats make bitcoin unique.

When the Lightning Network is fully implemented, people will see the benefit of this technology. You will have services, with real cheap micro transactions for the first time in Crypto currencies. People will be able to establish channels with their favourite merchants and they will be able to do virtually free transactions for this duration.

We might even see more Tipping services coming back to the scene. ^smile^

limited supply and increasing demand

Well said. Bitcoin has achieved many things across the fields of politics, technology, ICOs, and finance. Its value is yet to be measured and its only limit is our imagination. Do not mistake its value to its true price because its price varies dependently with time.

I think you missed one key point: Bitcoin is scarce!

There are over 7 billion people on Earth. About 16 million bitcoins have been created. This does not factor in how many are lost (lost private key, burned hard drives, etc). The total number of Bitcoins that can exist is 21 million, again not factoring lost coins.
In comparison, the M0 money supply of US dollars was $1.2 trillion in 2013 https://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html.
Comparing with gold, it is estimated that over 180,000 metric tons of gold has been mined throughout historyhttps://en.wikipedia.org/wiki/Gold_reserve, with a value of $8.7 billion. Comparing that to the total Bitcoin market cap of 250 billion, the total value of Bitcoin is not even close to that of gold.

It all boils down to demand and supply. As Bitcoin grows more popular, more people want to buy the same 16/21 million coins, the emission rate is not high enough to offset the increase in demand, which has been the case since the creation of bitcoin, hence the value appreciates.

This is an asset for the future, Bitcoin is too valuable because Bitcoin has a bright future that could be the talk of many people in the world. bitcoin is a social network where many people from all over the world can interact and make transactions.

bitcoin makes valuable because of its own demand each day. more (small, big, company) business now are adopting bitcoin (cryptocurrency) as a mode of payment online. as you can see the graph of bitcoin last year pump huge, and they think that pump has never ending, but after year end (2017) bitcoin price dropped and its rolling around $10k+ - $11k+ now. meaning the value of bitcoin is in the users/holders, if they dump a huge amount of bitcoin each day, the value will drop but if they buy and hold more amount, the value will pump. and that makes bitcoin valuable.

In my own understanding, I think bitcoin is valuable in the sense that government from any country may have hard time in tracing and adding of taxes in every transactions made. Also, there is a cap set of the total bitcoins which limits how much currency can devalue through inflation. It acts like an equity investment where the market value has wild swings in value and even a market cap. Lastly, bitcoin is a social network where many people from around the world may interact and do transaction faster than the usual way in relation to money transactions.

Bitcoin is too much valuable due may reason most of the most important fact you already say that Bitcoin Is safe and privacy is most of them useful.  market demand controls the price of Bitcoin and the future will be more rise and better than now. Bitcoin is decentralized decision making so it's impossible to haked. Bitcoin is a guardian al of the cryptocurrency.for the most part of Bitcoin, it's an asset for future like that many others reason for Bitcoin are valuable.

Although prices are going down lately, the price of every bitcoin alone would determine how valuable bitcoin is.

I firmly believe that only two of the most important factors affecting Bitcoin, the Internet and market demand, the Internet determines the existence of bitcoin is meaningful, and the market demand is to determine the current price of Bitcoin and the future price forecast.

     Bitcoin has a lot of uses,advantages and it really helps a lot in terms of financial. Inspite of those things the reason why bitcoin become valuable,it is because many people use and patronized it as a digital currency. In other word the Demand makes bitcoin valuable with a limited amount of supply.

While I agree with your points, I think there are a few caveats that should accompany them.
Bitcoin is safe from hacking in so much as the blockchain is safe from hacking. Anyones private key could be hacked if stored in a manner susceptible to hacking. This is why people recommend cold storage.

Bitcoin eliminates banking fees - but at this point in time fees are comparatively high to days gone by, and also compared to other coins.

Bitcoin is fast - it can be, it can also be slow compared to other coins. I wouldnt make any assessment of the lighting network before full implementation.

Bitcoin only provides privacy in terms that the holder of any given wallet is private. Every transaction is very easily accessed on the blockchain and I believe that is the point of the public blockchain.

Bitcoin hedges against stupidity of banks, but banks generally hedge against their own stupidity with insurance and will, for the most part, make clients whole if they mess up. Where as 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 of any mistakes. Its possible to claw back a credit card transaction but impossible with bitcoin.

Bitcoin is always genuine. So long as you get 'bitcoin' and not 'BCash' etc.

Spot on with it being an asset class separate from others.