What Makes Bitcoin Valuable? - page 6.

andriarto

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Quote from: Reatim on August 26, 2019, 09:22:12 AM

Quote from: undertheradar47 on July 05, 2019, 09:53:48 AM

The Bitcoin Standard is the first book I've ever read to simply explain the properties that make money valuable.

If there were such a thing as a 'Bitcoin University', Satoshi's white paper would be covered on day one, and this book would be covered on day two.

Get up to speed on your Bitcoin education.

https://youtu.be/T4ltMvjGO5Y

it takes time to finally learn what really bitcoin is all about because this is technology and not all of us have a great view about this
But reading books and watching movies and documentaries about cryptocurrency and ofcourse bitcoin will add knowledge and teaches us what’s the benefits and the purpose why and how Satoshi created this Virtual currency Bitcoin

and of course the most important thing is the trust of investors in a mass, thus making demand increase, by encouraging demand to increase the price of bitcoin. besides that the hope to be adopted by all countries becomes its own stimulant, many imagine that if that happens then the price of bitcoin can soar, and now many countries are considering it

SirLancelot

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Quote from: bryant.coleman on August 25, 2019, 09:34:10 PM

Quote from: nutella_11 on August 22, 2019, 05:58:18 AM

In my opinion, ypu cannot be completely anonymous in today's world. Really. Not on the internet, never. So, it doesn't matter what we do, we are not anonymous when we use any of electronic devices.

I don't agree with you. It is possible to remain anonymous, but there is always a risk of someone tracing your identity through hacks or other methods. For example, you can use a VPN to hide your IP. Here the risk is that the VPN provider can double-cross you and provide your original IP to the authorities (although such incidents are very very rare).

Bitcoin to Bitcoin transactions can offer you a great deal of anonymity. Satoshi Nakamoto designed Bitcoin in such a way, as to provide the maximum amount of anonymity to the users. But the problem occurs when you convert your Bitcoins to fiat. Almost all of the exchanges now are KYC enabled, and the authorities are trying to closed down the DEX sites. A single such transaction in your wallet can enable the authorities to trace your identity.

Based on your first paragraph then, anything that can still be cracked successfully to boycott anonymity is not then anonymous if you look at it from that angle. What is the point of VPN when the VPN providers can see trace our identity, but if it was a decentralized programmed through blockchain technology, even the provider is also blind to the activities of the user, and this is what makes it difficult for them to be able to trace bitcoin transaction.

And you are right, it is only the development of centralized exchanges that is now making bitcoin transaction looks anonymous, but if we were to use dex exchanges along with crypto, then the anonymity of bitcoin transactions will be 100 percent perfect, and this is still one of the greatest value of bitcoin to me, which is why I use dex exchanges more.

Polo7

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Quote from: FlightyPouch on August 25, 2019, 11:55:44 AM

Quote from: matt7 on August 22, 2019, 06:38:40 AM

yeah, even if it was possible to be anonymous, it wouldn't be safe. it is good to be verified while investing, especially when you use reliable and trustworthy cryptocurrency exchange, there is nothing to worry about, that they have got your data

You still need to worry since they got your data, how is not that worrying? But this is not what Bitcoin made valuable, the reason here is that Bitcoin is the first crypto currency, the most expensive and with a lot of users and its volatility, obviously a lot of people would risk their money to invest on it.

Worry about! My data?? What kind of world we live in??? I live in real world Don't know about You

manok jepang

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Bitcoin has limited limitations, unlike Fiat which has unlimited amount and is accepted. This makes the selling price of Bitcoin very expensive. One of the things that makes Bitcoin the center of attention is because Bitcoin is not protected by the government or government. Besides being easy and fast, in Bitcoin transactions there is no limit to the number of Bitcoin that must be sent. Shipping taxes / Bitcoin transactions are also cheaper than bank taxes or other services.

AlexaaaaMaaay

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Quote from: undertheradar47 on July 05, 2019, 09:53:48 AM

The Bitcoin Standard is the first book I've ever read to simply explain the properties that make money valuable.

If there were such a thing as a 'Bitcoin University', Satoshi's white paper would be covered on day one, and this book would be covered on day two.

Get up to speed on your Bitcoin education.

https://youtu.be/T4ltMvjGO5Y

For me, bitcoin is so valuable because of the fact that in 113 countries, bitcoin is unrestricted. This means that there's no governing power that regulates bitcoin. It's free from any control from any entity. It's rare to have a currency not regulated by anyone. This is huge opportunity for anyone who wants to invest in bitcoin. I saw this blog post and really made me rethink the value of bitcoin https://noahcoin.org/blog/statistics-that-make-cryptocurrencies-worth-considering/

nightxglow

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I never read any book about bitcoin before, but maybe it will be a good material to read if i want to deepen my knowledge in bitcoin and cryptocurrency. Even until now, it's kinda hard for me to really understand bitcoin, the concept, and everything because the blockchain technology is something new for me and i'm not quite familiar with such things. But for me, i think what makes bitcoin valuable is the uniqueness and also the technology, which is not the same with others, and the newness and attractive points of bitcoin makes people interested in it and finally made bitcoin valuable because of many demands, popularity, and such.

Reatim

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Eloncoin.org - Mars, here we come!

Quote from: undertheradar47 on July 05, 2019, 09:53:48 AM

The Bitcoin Standard is the first book I've ever read to simply explain the properties that make money valuable.

If there were such a thing as a 'Bitcoin University', Satoshi's white paper would be covered on day one, and this book would be covered on day two.

Get up to speed on your Bitcoin education.

https://youtu.be/T4ltMvjGO5Y

it takes time to finally learn what really bitcoin is all about because this is technology and not all of us have a great view about this
But reading books and watching movies and documentaries about cryptocurrency and ofcourse bitcoin will add knowledge and teaches us what’s the benefits and the purpose why and how Satoshi created this Virtual currency Bitcoin

Miha77

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Цeннocть биткoинa в людяx, кoтopыe гoтoвы зa нeгo плaтить.

Sexaphiliac

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Well what makes a thing(commodity, asset) valuable is scarcity, that is the primary determining factor. Air for example would have been a very valuable neccesity but because it isn't scarce no value is associated with it.

Another important factor would be the demand for it. Demand drives price. So when there is a high demand for bitcoin, since it's already scarce(limited in supply). It's the major factors that affect demand that we should consider: news, development etc that make it valuable.

Daniel91

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I can answer why bitcoin is valuable for me.
With bitcoin I made first real profit online after many years of trying.
With bitcoin I finally have hope to retire soon and quit my job

I can buy different things in my country, or pay for different services, like barbershop, rent apartments etc.
Recently, even Croatian post offce offering crypto exchange:
https://bitcointalksearch.org/topic/croatian-post-office-now-offer-crypto-exchange-5168879
Bitcoin is becoming more and more valuable with each passing day.

bryant.coleman

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Quote from: nutella_11 on August 22, 2019, 05:58:18 AM

In my opinion, ypu cannot be completely anonymous in today's world. Really. Not on the internet, never. So, it doesn't matter what we do, we are not anonymous when we use any of electronic devices.

I don't agree with you. It is possible to remain anonymous, but there is always a risk of someone tracing your identity through hacks or other methods. For example, you can use a VPN to hide your IP. Here the risk is that the VPN provider can double-cross you and provide your original IP to the authorities (although such incidents are very very rare).

Bitcoin to Bitcoin transactions can offer you a great deal of anonymity. Satoshi Nakamoto designed Bitcoin in such a way, as to provide the maximum amount of anonymity to the users. But the problem occurs when you convert your Bitcoins to fiat. Almost all of the exchanges now are KYC enabled, and the authorities are trying to closed down the DEX sites. A single such transaction in your wallet can enable the authorities to trace your identity.

akeda

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At first, people don't suspect that Bitcoin can be a very valuable coin. With the passage of time Bitcoin was able to attract many investors and culminated in 2017. That year the Bitcoin price was very high and many people became wealthy. After that Bitcoin is very popular and nowadays Bitcoin is still a popular coin.

People can make profits quickly and in a matter of minutes. Crypto trading currently in my country has a very large community. So Bitcoin is invaluable and still a force of dance people to invest in crypto.

dimastegar

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Small Trader

Quote from: undertheradar47 on July 05, 2019, 09:53:48 AM

The Bitcoin Standard is the first book I've ever read to simply explain the properties that make money valuable.

If there were such a thing as a 'Bitcoin University', Satoshi's white paper would be covered on day one, and this book would be covered on day two.

Get up to speed on your Bitcoin education.

https://youtu.be/T4ltMvjGO5Y

After seeing the video I can draw conclusions. Bitcoin can be valuable because of the utility function. And one of the biggest functions of Bitcoin is to transact. With the current price of Bitcoin, we can trade large amounts with only a few Bitcoins. Of course, with a simple process and a short time.

FlightyPouch

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Quote from: matt7 on August 22, 2019, 06:38:40 AM

yeah, even if it was possible to be anonymous, it wouldn't be safe. it is good to be verified while investing, especially when you use reliable and trustworthy cryptocurrency exchange, there is nothing to worry about, that they have got your data

You still need to worry since they got your data, how is not that worrying? But this is not what Bitcoin made valuable, the reason here is that Bitcoin is the first crypto currency, the most expensive and with a lot of users and its volatility, obviously a lot of people would risk their money to invest on it.

nutella_11

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Quote from: leea-1334 on August 22, 2019, 03:00:03 AM

Quote from: thirdlight on August 15, 2019, 02:50:12 AM

Firstly, its limited quantity. Secondly, it is decentralized and anonymous. And in the third, the fact that this coin opened the doors to the world of cryptocurrencies for us. He will always remain dear and best. Another reason is because it is very difficult to mine.

Man, you have not been listening very well to Bitcoin at all. Every developer even knows this and Bitcoin is only pseudo anonymous. If you want proof, just read the news yesterday about Tether and Bitfinex, all their funds being blocked by the US government and they were a Bitcoin exchange companies.

If you buy and sell Bitcoin, you still need banks. So it does not keep you anonymous.

In my opinion, ypu cannot be completely anonymous in today's world. Really. Not on the internet, never. So, it doesn't matter what we do, we are not anonymous when we use any of electronic devices.

isaac_clarke22

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Quote from: Alert31 on August 22, 2019, 10:00:19 AM

What makes bitcoin valuable? There are few things that makes it valuable; First, because bitcoin supply is limited with greater demand which is all over the world unlike fiat money that every country has their own currency with unlimited supply. Second,bitcoin is Decentralized and most people like a decentralized form of money or asset which is not issued and controlled by the government. Third,the demand of bitcoin is greater while the supply is more lesser. Fourth, you can earn much bigger profit in bitcoin than investing to other projects not related to bitcoin or cryptocurrency.

I kinda not feeling the demand of Bitcoin here in my country, or maybe the people here are simply hiding in the shades to trade in Bitcoin. Could be one of my friends or relatives. Looking at it globally, it seems really in demand due to how limited supply it has. That demand pumps the price making it even more a demanding coin for investment purposes.
Somehow Bitcoin becomes regulated by the government when you're trying to cross the line between your local currency and cryptocurrency through KYC process when you decided to convert your crypto coins to fiat.

barbara44

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Quote from: Onuohakk on August 21, 2019, 08:11:31 PM

Since bitcoin is all about investing, store up your assets and make profit. What's it to read and understand about. Understanding bitcoin is very easy as Abc, no much stress

That Is just based on your own understand mate, that is what you chose bitcoin to be to you but bitcoin is much more than just those features that you mentioned, those features are just additional benefits of bitcoin to us when we use it, but the main purpose for which bitcoin was established is juts to basically help us solve the payment challenge that many of us has been experiencing as a result of the cumbersome government policy that is governing our financial institutions.

So, you have to please look deep beyond that, this is one of the reason why bitcoin has not grown more than this, because we are not making it as utility, we just use it for store of value alone, meanwhile, we are meant to be using it as utility so that demand can be coming often.

putukin

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I think it will be much more useful to attend a conference with crypto enthusiasts or crypto professionals which will better explain the concept of Bitcoin and everything related to it.

Polo7

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Limited supply is not what makes BTC valueble.

Price manipulation @ exchangers number one reason.

Mpamaegbu

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Once a man, twice a child!

Quote from: Nadziratel on July 05, 2019, 12:01:57 PM

Quote from: undertheradar47 on July 05, 2019, 09:53:48 AM

The Bitcoin Standard is the first book I've ever read to simply explain the properties that make money valuable.

If there were such a thing as a 'Bitcoin University', Satoshi's white paper would be covered on day one, and this book would be covered on day two.

Get up to speed on your Bitcoin education.

https://youtu.be/T4ltMvjGO5Y

You can find answers of your question in its features!
Bitcoin is limited and will be only 21 million. So if you compare any FIAT money with it. I think you can understand. Supply-Demand!
Bitcoin is decentralized. So no one increase or decrease total supply. And no one control it!
Bitcoin is transparent. (This is the feature of blockchain actually but valid for BTC.) You can track all transaction easily with blocks.

And BTC has a great community support. All world be aware it potential now.

The overall thing that makes Bitcoin (or any item/services) valuable is DEMAND. Let's not forget that Bitcoin didn't become valuable overnight because of its limited 21million supply. No! It didn't happen that way. Otherwise from the beginning of its creation it wouldn't have been sold at less than $1 or the Pizza dude wouldn't have given out his 10,000btc just to eat 2pizzas. So, this goes beyond total supply or decentralization. It's the community demand that keeps price of Bitcoin up.

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