Topic: What makes Bitcoins valuable? - page 2. (Read 757 times)

If miners suffer there is also an impact on the price of Bitcoin. But after a long bearish trend normally bullish movement started. In that continuation we can expect to see a new Bitcoin bull run as well as a new all time high very soon. Times are very positive for Bitcoin hoarders and we will see that bullish movement in Bitcoin again in the next year. It may take a little longer than expected but it is certain that Bitcoin will get the new ATH once again.

It's not really a matter of usefulness as a measure whether bitcoin can reach a million, bitcoin is a blue chip crypto so it don't matter whether if other crypto have more use case because many people will be seeking bitcoin compared to other crypto and given the scarce nature of bitcoin I am sure that as the adoption of bitcoin continues to spread globally, we would see more people that would want to have a piece of bitcoin to their name, we always think that because it's been more than a decade now that bitcoin has reached it's peak in terms of their reach in the population but no because there are still people out there that still don't even know about bitcoin yet.

yeah i mean if it can't make it past $69,000 and stay above that then how is it ever going to get to $1million? it needs to become more useful. more use case. otherwise i don't see how it would ever be worth $1million unless inflation made it artificially worth that.

if inflation is what makes bitcoin be worth more then it's not really worth more.

This pressure is unavoidable and makes the Bitcoin price potentially depressed, especially since miners are pressured by the high operational costs of mining production and tend to sell to cover the losses they experienced before.

Now, many people are waiting to see whether BTC's New ATH will be born and whether it will surpass the previous US$69,000 towards the end of 2024 and 2025 after the correction 2 days ago because some people the price is already very low and time for a reversal.

gold investment is also profitable, where even though the supply is not limited, the trust and need for gold is always growing. however, if you take into account gold, it will only save the value of the currency from inflation, but of course, because of the trust factor, it makes it safe to hold. different things from bitcoin which until now certainly made us rich when investing at its inception, and only took 14 years to be able to retire, the growing adoption and the few people who believe in it, it opens up opportunities to increase the price

maybe no one "wants" to go below $20k but that doesn't mean it can't happen. the market decides if that happens. the only control miners have is turning on or off the power button on their rigs...

there are many blockchains.. many have PRICES but when it comes to an underlying value. people dont know the difference of price vs value or what one blockchain offers that the other does not.

the truth is there is a underling cost to PoW and this is the base wholesale that backs the underlying value that sets the bottom no one wants to go below.. this economic value is atleast $20k right now

there are also emotional values(not the same as economic value) where values put excess amount ontop of the economic value and start to be part of the speculative market price

there is a big reason why people prefer PoW because it has a real world underlying cost. where as PoS coins dont. PoS coins are 99% speculative and have alot of chance of dropping to zero.
PoW would need a significant cut in hashpower cost to drop its value and cause even a chance of going below a certain 'bottom' value amount

PoS coins like ethereum is 99% speculative with mostly emotional values but very little underlying cost bases to back it up. and support it. most of the time ethereum speculates based on arbitraging bitcoin trades, not its own ecosystem

bitcoin has its own ecosystem aswell as its own underlying cost. yes there are other PoW coins but you can see with their lack of hashrate cost means their market prices speculate from a lower standing point. and if they speculate too much they crash just as fast back to their base value amounts once the emotional drama subsides

Bitcoin has revolutionized as an innovative technology, gold, on the other hand, has existed for decades, but when comparing them you can see the potential of both to be extremely profitable as an investment, it is true that they have their own qualities that make people interested in them, but I believe that bitcoin has had a greater impact despite being new, and the latter is exactly what has impressed and makes it have a certain advantage against gold, the fact that in such a short time this asset has reached having such a high demand and value in the market may be the main reason why it is being desired by many, the other reason is obvious, and it is the purpose for which it was created, many seek to be able to manipulate their money without the need to have restrictions from banking entities on how and when to use what belongs to them, bitcoin guarantees them that freedom.

Gold indeed boasts an intrinsic value of remarkable purity. It emerges as an investment archetype that approaches near-perfection when it finds its place within an individual's portfolio. Yet, the exalted worth of gold is somewhat overshadowed by its decidedly non-portable physical form, which, regrettably, could potentially imperil its possessor. The physical security layer, in its current construct, fails to match the robustness of its technological counterpart. This disjuncture implies that the specter of pilferage looms over the gold holdings of common citizens, not only jeopardizing their material wealth but also endangering their very lives.

In stark contrast, Bitcoin presents itself as a digital asset, cloaked in a security matrix of considerable intricacy. This novel asset model boasts an accessibility that transcends geographical confines, save for the encumbrances posed by governmental regulations. One can carry the quantum of their BTC holdings with ease, encapsulated within a smartphone or enshrined in a portable physical wallet. Yet, when it comes to toting tangible gold, one cannot help but entertain concerns about safety in the public domain. While digital manifestations of gold have arisen, they often entail the involvement of third-party intermediaries, undermining the pure investment intent.

In essence, both Bitcoin and gold are adorned with their distinct virtues, each standing tall within its own realm of excellence.

so far, it makes valuable for most because of its high volatility, and that makes a very good asset to hold for profit purposes. this is why there are so many incoming traders on this market because they find it very profitable if they know what they are doing.  and with the features of low transaction fee, borderless aspect of txs, makes it a very good candidate in cross-border payments, without worrying high fees charged by other wire transfer companies.

What everyone says is very valuable and I agree with what you say. For me, the most important features that make Bitcoin valuable are that the transactions are public but the user identity is always private, so anonymity is at the center. Another one is that there is no need for third parties. All transactions on the Bitcoin blockchain are intermediated between individuals in other words. Thanks to these features, you can carry out transactions comfortably without revealing your identity and you don't need any intermediary institution or person to carry out these transactions. Thus you minimize your risk of being defrauded.

The values that Bitcoin offers us are very important and will radically change our relationship with money. The fact that Bitcoin is a cryptocurrency that is not controlled by a central authority and thus cannot be manipulated, its ease of use and easy exchangeability make it an attractive alternative.

Yes decentralization of BTC makes it different from other asset and no other payment method/asset could he competitive of BTC. some other benefits of decentralization is no one controlling BTC price and we are totally free from Government manipulation.

Another big benefits which i think added value to btc is global access with ease and buying/selling (trading) will not charge extra fee and not limited to specific regions and we can send money to other countries cheaply with fast speed. These all are the benefits of decentralization. I. shorts decentralization is main key points i think more valuable then any asset.

The biggest reason why Bitcoin will always remain valuable is its decentralized structure. Bitcoin laid the foundations for a new understanding and has been moving forward ever since. We've been lucky to witness this progress.

The biggest problem with today's economies is that they print money at will, and this free money comes back as inflation. This is not the case with Bitcoin. That's one of the things that makes Bitcoin valuable.

Yes, Bitcoin IS valuable due to its applications, but to imply that its worth is restricted to a small number of uses shows a narrow viewpoint. Did it ever occur to you that the present need to buy Bitcoin with fiat money is just a temporary stage in its development?

Now, there is a glaring misunderstanding about the bank account issue! Have you ever heard of peer-to-peer platforms or Bitcoin ATMs? Bitcoin can be purchased free from the restrictions of a conventional bank account. Consider the countless decentralized possibilities as you awaken.

And for the love of blockchain, Bitcoin wasn't created to obliterate fiat currency or the banking industry entirely! It is a tool to restore the people's power and free them from the controlling monetary policies. Bitcoin has surpassed conventional financial constraints! Past events are over. Take advantage of the financial revolution now. Be without regret. From everything, grow!

Bitcoin itself the valuable coin,because of his decentralized behavior of the bitcoin.Most of the people who had huge knowledge in the cryptocurrency will choose the bitcoin for their investment.Because they all know the true value of the bitcoin.When the price of bitcoin had reached the all time new high,then he had a possibility of getting more money as the profit itself from the bitcoin.Bitcoin help the people now like the asset to store your valuable money for the long run and give you more benefit at the time of need.

Ale88, your statement is far from the truth. The advantage of bitcoin is being your own bank, but it doesn't necessarily provide anonymity as you claimed. If you really want to be anonymous in the bitcoin network, you must first learn how to hide your ip. This can be achieved by not running your node on the clean net. Tor can do a good job to hide your ip. For transaction purposes, you try not to re use your addresses.
The coinbase example is off the discussion because coinbase is a CEX. To be able to trade their you must have already completed KYC with them.

I agree with you, the use case that has made bitcoin valuable, but is what you say really true of what bitcoin has to offer? Bitcoin is an asset, and to get it you need fiat and a bank account to buy it. It's not distributed for free, how can you get bitcoins if you don't have a bank account? Bitcoin use cases can include cross-border transactions, making us our own banks, inflation-resistant store of value, and more...Bitcoin doesn't stop you from banking and fiat money, it just helps reduce our dependence.

That is not necessarily true: every single bitcoin transaction is readable on the blockchain so even if you don't know who is making that transaction you can follow the bitcoins path anyway. And it's possible to track down bitcoins even after they have been mixed using some mixing service. If you want to be 100% anonymous then bitcoin is not the best choice. At the end almost everything that goes through internet leaves a trace.

Which supply is limited and demand is high must be valuable. BTC has a total supply of 21 million while the number of institutional investors in addition to ordinary investors is increasing as a result of which BTC will gradually increase in value. On the other hand, as the world's population grows, there is a demand for everyone who wants to store BTC in their holdings. OP points out a number of reasons for BTC's rise in value, but what I believe is awareness. BTC will be most valuable if people are made well aware of the benefits and possibilities of BTC.

Use cases of a crypto are crucial. While the limited supply is the cherry on top of cryptocurrency value, it is not the only one.

To illustrate, use oranges. If there is only one orange and no one knows how to eat it, it will sit. Other coins with smaller supplies resemble oranges almost perfectly, but without the instruction book. Despite being juicier, they may not be more popular.

The limited Bitcoin supply is a fantastic idea, and Satoshi's creation is amazing. How much less valuable would it be if it were unending, like the stars in the sky or sand grains on a beach? Gold has been dazzling and priceless for millennia, but arent there sparkling rocks everywhere? The development of everything is intriguing.